Finance Committee

CITY OF VERONA MINUTES FINANCE COMMITTEE JULY 22, 2013 VERONA CITY HALL 1. The meeting was called to order by Scott Manley at 6:18 p.m. 2 Roll Call: Elizabeth Doyle, Scott Manley. Absent (excused): Mac McGilvray. Also present: Bill Burns, City Administrator; Cindy Engelke, Finance Director. 3. Approval of the 7/8/2013 Finance Committee Minutes: Motion by Doyle, seconded by Manley, to approve the 7/8/2013 Finance Committee Minutes. Motion carried 2-0. 4. Payment of Bills: Motion by Doyle, seconded by Manley, to approve the payment of bills in the amount of $299,293.95. Motion carried 2-0. 5. Presentation of the 2012 Audited City Financial Statements by Baker Tilly Virchow Krause, LLP: Tom Scheidegger from Baker Tilly presented the City’s 2012 audited financial statements. Mr. Scheidegger noted that the statements have an unqualified or “clean” opinion, which is the highest level of assurance provided by the auditors. Mr. Burns noted that Finance Director, Cindy Engelke, has also prepared a memo that summarizes some of the key financial measures and their changes overtime. Motion by Manley, seconded by Doyle, to recommend that the Common Council accept the 2012 audited financial statements. Motion carried 2-0. 6. Agreement with Baker Tilly Virchow Krause, LLP for the Final Accounting and Dissolution Audit related to TID 5: Mr. Burns presented an agreement to have Baker Tilly perform a final closeout audit for TIF District #5. This audit is required to be completed following the closure of the district. The estimated cost for the audit is between $1,500 and $2,000. Motion by Manley, seconded by Doyle, to approve and agreement with Baker Tilly to perform a final audit for the closure of TIF District #5. Motion carried 2-0. 7. Resolution No. R-13-029 Approving an Intergovernmental Agreement with Dane County for the Purchase of New Election Equipment and Software: Mr. Burns explained that the Dane County Clerk is seeking to replace all election tabulator machines used in Dane County. The current machines are over twenty years old. In order to encourage all municipalities to make the switch at the same time, Dane County has agreed to pay for half of the cost of the new machines. The City of Verona has two machines to be replaced with an estimated cost of approximately $7,000. This would be a 2014 budget expense. Motion by Doyle, seconded by Manley, to recommend that the Common Council approve Resolution R-13-029 Approving and Intergovernmental Agreement with Dane County for the Purchase of New Election Equipment and Software. Motion carried 2-0. 8. Adjournment: Motion by Doyle, seconded by Manley, to adjourn the Finance Committee Meeting at 6:59 p.m. Motion carried 2-0. Respectfully submitted, Bill Burns, City Administrator