Finance Committee

CITY OF VERONA MINUTES FINANCE COMMITTEE JULY 14, 2014 VERONA CITY HALL 1. The meeting was called to order by Mac McGilvray at 6:32 p.m. 2 Roll Call: William “Mac” McGilvray, Elizabeth Doyle, Jack Linder. Also present: Bill Burns, City Administrator; Brad Stiner, Alderperson. 3. Approval of the 6/23/2014 Finance Committee Minutes: Motion by Linder, seconded by McGilvray, to approve the 6/23/2014 Finance Committee minutes. Motion carried 3-0. 4. Payment of Bills: Motion by McGilvray, seconded by Doyle, to approve the payment of bills in the amount of $609,686.60. Motion carried 3-0. 5. Payment of Out-of-Office Checks: Motion by Doyle, seconded by Linder, to approve the payment of out-of-office checks in the amount of $3,950.29. Motion carried 3-0. 6. Potential Purchase of Verona Area Community Theater Facility at 405 Bruce Street: Mr. Burns provided an explanation of a proposal for the City to purchase the Verona Area Community Theater (VACT) facility at 405 Bruce Street. This building would be utilized by the City’s parks and public works department for a maintenance shop and equipment storage. VACT is seeking to construct a new larger facility that would include a small theater and rooms for dance, music, and other meetings. The preferred location is on excess land on the southwest corner of the Fire and EMS Station lot at 101 Lincoln Street. VACT has indicated that this facility could be used by the community including the City’s recreation department. The City could potentially use a State Trust Fund Loan in order to finance the purchase of the current VACT facility. The purchase price, terms for a lease agreement, and parking details would need to be worked out. Committee members expressed their interest in continuing to pursue this project and asked staff to follow-up with additional details on the financial impact and potential for City use of a new building. 7. 2015 Budget Schedule: Mr. Burns presented a tentative schedule for the 2015 budget process. 8. Adjournment: Motion by McGilvray, seconded by Doyle, to adjourn the Finance Committee Meeting at 7:07 p.m. Motion carried 2-0. Respectfully submitted, Bill Burns, City Administrator