Finance Committee (Meets 4th Tuesday of each month at 4:30 p.m.)

FINANCE COMMITTEE Meeting Minutes November 14, 2024, Regular Meeting The meeting was called to order by Chair Sweeney at 4:30pm on November 14, 2024, in Government Center Room 204. 1 ROLLCALL PRESENT: Jack Sweeney, Tylor Elm, and Mike Herrick VIRTUAL: Jenny Van Sickle (committee alt), Dan Walker (Nemadji Golf Course), Joseph Titus (Kemper Sports) CITY STAFF PRESENT: Mayor Jim Paine, Nick Rhinehart (Finance Director), Renee Hoff, and Karie Markon OTHERS PRESENT: Shelley Nelson, Katelyn Baumann, Garner Moffat, Jordan Stish, Barb Hoag, Kristen Haux, Steward Platner, Valerie Burke 2 APPROVAL OF MINUTES 2.1 Finance Committee (Meeting held October 10, 2024) Motion was made by Mike Herrick, seconded by Tylor Elm, and carried to approve the October 10, 2024, Finance Committee minutes. 3 OLD BUSINESS 3.1 Finance Committee Meeting Time Finance Director Nick Rhinehart had proposed the new time of the 4th Tuesday of month at 4:30pm. Motion was made by Tylor Elm, seconded by Mike Herrick to replace the Finance Committee Meeting Time from the 1st Thursday of the month to the 4th Tuesday of the month at 4:30pm starting after 01/01/2025. 3.2 Accounting Policies and Procedures Manual Review. Finance Director Nick Rhinehart is still collecting quotes. Motion was made by Mike Herrick, seconded by Tylor Elm, and approved to hold in Committee the Accounting Policies and Procedures Review. 4 NEW BUSINESS Mayor Jim Paine spoke on the various Budgets that were up for review. Finance Director Nick Rhinehart requested to hold in committee budget 4.4 and 4.6 for the fire chief to review. A question-and-answer period was ensured. Motion was made by Mike Herrick, and seconded by Tylor Elm to pass budgets 4.2, 4.3, 4.5,4.7,4.8,4.9,4.10,4.11,4.12 and to hold in committee budgets 4.4, 4.6, 4.1  4.1 Golf Course Fund Budget 2025 4.2 Urban Tree Fund Budget 2025 4.3 Boat Ramp Fund Budget 2025 4.4 Hazardous Materials Fund Budget 2025 4.5 Affordable Housing Budget 2025 4.6 Fire Department PPP Budget 2025 4.7 Redevelopment Authority Budget 2025 4.8 Health Insurance Fund Budget 2025 4.9 Room and Tax Fund Budget 2025 4.10 Illegal Tax Fund Budget 2025 4.11 Special Assessment Fund Budget 2025 4.12 Municipal Forest Fund Budget 2025 4.13 Insurance Recommendation Special Finance Committee Date Finance director Nick Rhinehart spoke that several quotes have been received and recommend to adjourn to a special meeting on Tuesday November 26, 2024 at 4:30. 4.14 Compensation of Alderpersons and Mayor Councilmen Garner Muffet spoke on increasing the Alderperson’s and Mayor’s wage compensations for the city’s work contributions. A question and answer period was ensured. Several quests were made. No action was taken on this item as it will be presented on common council 11/19/2024 No Action was taken on this item 4.15 City of Superior Museums RFP Review Mayor spoke on the RFP Review; the current MOU will be expiring on 12/31/2024. A question-and-answer period was ensured. Motion was made by Mike Herrick, seconded by Tylor Elm, and approved to send a Request for Proposals (RFP) for the Superior Public Museums Management Contract 5 RECURRING BUSINESS All recurring business is to be held in Committee until till the December meeting 5.1 Golf Course Report and Financials September 2024  5.2 October 2024 Check Registers – 2024 Expenditure 5.3 General Fund Financial Statement – 2024 Expenditure vs Budget Analysis as of November 1, 2024 5.4 American Rescue Plan Act (ARPA) Fund Budget Review 5.5 Insurance Update 5.6 Other Financial Matters 5.7 Superior Public Museums Update 6. ADJOURNMENT The meeting was adjourned at 5:57p.m. Minutes respectfully submitted by Karie Markon