Finance Committee

CITY OF VERONA MINUTES FINANCE COMMITTEE APRIL 22, 2013 VERONA CITY HALL 1. The meeting was called to order by William “Mac” McGilvray at 6:30 p.m. 2 Roll Call: William “Mac” McGilvray, Elizabeth Doyle, Scott Manley. Also present: Jon Hochkammer, Mayor; Jeremy Charles, Council Member; Brad Stiner, Council Member; Dale Yurs, Council Member; Bill Burns, City Administrator, and Cindy Engelke, Finance Director. 3. Approval of the 4/8/2013 Finance Committee Minutes: Motion by McGilvray, seconded by Manley, to approve the 4/8/2013 Finance Committee Minutes. Motion carried 3-0. 4. Payment of Bills: Motion by Manley, seconded by Doyle, to approve the payment of bills in the amount of $371,049.25. Motion carried 3-0. 5. Claim of Excessive Assessment for Property Owned by Virginia Melzer, Parcel Number 0608-232-6910-2: The City received a claim seeking the refund of 2012 property taxes in the amount of $880.95. This claim was received after the January 31 filing deadline and the City’s insurance carrier recommends denial as the assessment was sustained by the Board of Review. Motion by McGilvray, seconded by Manley, to recommend that the Common Council deny the claim of excessive assessment. Motion carried 3-0. 6. Proposed Policy – Identity Theft Prevention Program “Red Flag Rules”: Ms. Engelke presented a draft policy which has been recommended by the City’s auditors. This policy establishes procedures to protect against utility customers setting up accounts with false identification information. It also includes protections for unauthorized access to customer information stored in the City’s electronic records. Motion by Manley, seconded by Doyle, to recommend that the Common Council approve the policy for the Identity Theft Prevention Program. Motion carried 3-0. 7. Proposed Capitalization of Assets Policy: Ms. Engelke presented a proposed capitalization of assets policy. The City’s auditors have recommended that the City adopt a formal policy defining the thresholds for the capitalization of fixed assets and the useful lives of those assets. Motion by McGilvray, seconded by Doyle, to recommend that the Common Council approve the policy for the capitalization of assets. Motion carried 3-0. 8. Adjournment: Motion by McGilvray, seconded by Manley, to adjourn the Finance Committee Meeting at 6:40 p.m. Motion carried 3-0. Respectfully submitted, Bill Burns, City Administrator