Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE September 25, 2017 The meeting was called to order by Alder William “Mac” McGilvray at 6:02 p.m. in Conference Room D110. Roll Call: Alder William “Mac” McGilvray, Alder Jack Linder, and Alder Elizabeth Doyle were present. Also present: City Administrator Jeff Mikorski, Finance Director Brian Lamers, City Planner Adam Sayre, City Council Brad Stiner and Jim Ferolie from the Verona Press. Discussion and Possible Action regarding approval of September 11, 2017and September 19, 2017 Finance Committee minutes: Motion by McGilvray, seconded by Linder, to approve the September 11, 2017and September 19, 2017 Finance Committee minutes with no amendments. Motion carried 3-0. Discussion and Possible Action regarding the payment of bills: Motion by Doyle, seconded by Linder, to approve the payment of bills totaling $720,614.48. Motion carried 3-0. Discussion and Possible Action on City Investment Report: Lamers went through the August 2017 Investment Report and Cash Reconciliation report. No action taken. Discussion and Possible Action regarding Agreement to Paint Plumbing and Glass Building Utilizing TIF 4 Funds: Motion by McGilvray, seconded by Doyle, to recommend city staff to continue conversation with the property owner to look at different options for better improvements and come back to the committee if more funding is necessary with approving the support of the agreement present if no other options are agreed upon. Motion carried 3-0. Discussion and Possible Action regarding Review of Miscellaneous Receivable Balances. Discussion took place regarding the receivable balances and determined that further letters will be sent out to some of the customers that had not responded with a list coming back to the committee in the future for possible writing offs. No action taken. Discussion and Possible Action regarding Special Assessment Receivable Balances. The committee requested that this be placed on next agenda to give more time to review the special assessment receivable balances. www.ci.verona.wi.us Discussion re: 2018 Budget Updates. Mikorski asked the committee as to the direction to be taken on the budget as far as requested position and COLA (Cost of Living Adjustment). No action taken. Adjournment: Motion by Doyle, seconded by Linder, to adjourn the Finance Committee Meeting at 6:56p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us