Finance Committee

CITY OF VERONA MINUTES FINANCE COMMITTEE NOVEMBER 2, 2015 VERONA CITY HALL 1. The meeting was called to order by William “Mac” McGilvray at 5:31 p.m. 2 Roll Call: William “Mac” McGilvray, Elizabeth Doyle, Jack Linder. Also present: Jon Hochkammer, Mayor; Brad Stiner, Alderperson; Bill Burns City Administrator; City Engelke, Finance Director. 3. Approval of 10/26/2015 Finance Committee Minutes: Motion by McGilvray, seconded by Doyle, to approve the minutes of the 10/26/2015 Finance Committee meetings. Motion carried 3-0. 4. City of Verona Proposed 2016 Budget: Staff provided an overview of several additional budget recommendations and the impact on the City’s general fund, property tax levy, and projected mill rate. The additional budget recommendations would have the impact of reducing the property tax levy by an additional $322,942. The non-TIF levy would be $10,707,178 resulting in a projected City mill rate of $6.7006 which is a slight reduction of 0.07% from the prior year. The 2016 recommended budget continues to qualify for the expenditure restraint program. Motion by McGilvray, seconded by Doyle, to recommend the budget to the Common Council and to direct staff to proceed with publishing the budget public hearing notice. Motion carried 3-0. A Committee of the Whole budget work session will be held on Monday, November 16 at 6:00 p.m. Any potential budget amendments should be submitted to staff the week prior to that meeting to allow time to prepare for their discussion. The budget public hearing and potential adoption of the budget will take place at the November 23 City Council meeting which will start at 7:00 p.m. 5. Adjournment: Motion by McGilvray, seconded by Doyle, to adjourn the Finance Committee Meeting at 5:18 p.m. Motion carried 3-0. Respectfully submitted, Bill Burns, City Administrator