Finance Committee

CITY OF VERONA MINUTES FINANCE COMMITTEE DECEMBER 14, 2015 VERONA CITY HALL 1. The meeting was called to order by William “Mac” McGilvray at 6:30 p.m. 2 Roll Call: Elizabeth Doyle, Jack Linder, William “Mac” McGilvray. Also present: Jon Hochkammer, Mayor; Bill Burns, City Administrator. 3. Approval of the 11/23/2015 Finance Committee Minutes: Motion by McGilvray, seconded by Doyle, to approve the 11/23/2015 Finance Committee minutes. Motion carried 3-0. 4. Payment of Bills: Motion by McGilvray, seconded by Linder, to approve the payment of bills in the amount of $667,121.22. Motion carried 3-0. 5. Out-of-Office Checks: Motion by Doyle, seconded by Linder, to approve the payment of out-of-office checks in the amount of $5,250.00. Motion carried 3-0. 6. Resolution R-15-065 Withdrawing from the Local Government Property Insurance Fund and Authorizing the City Administrator to Obtain Property Insurance through the Municipal Property Insurance Company: Mr. Burns presented information on quotes that the City received for property insurance coverage: Local Government Property Insurance Fund (LGPIF) $53,175 Municipal Property Insurance Company (MPIC) $36,321 Staff recommends that the City withdraw from the LGPIF and obtain property insurance through the newly formed MPIC. This change would be effective when the City’s current policy through the LGPIF expires on 2/13/2016. Motion by McGilvray, seconded by Doyle, to recommend that the Council approve Resolution R-15-065. Motion carried 3-0. 7. Adjournment: Motion by Doyle, seconded by Linder, to adjourn the Finance Committee Meeting at 6:52 p.m. Motion carried 3-0. Respectfully submitted, Bill Burns, City Administrator