Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE October 9, 2017 The meeting was called to order by Alder Elizabeth Doyle at 6:30 p.m. in Conference Room D110. Roll Call: Alder Jack Linder and Alder Elizabeth Doyle were present. Alder William “Mac” McGilvray was excused. Also present: City Administrator Jeff Mikorski, Finance Director Brian Lamers and Mayor Jon Hochkammer. Discussion and Possible Action regarding approval of September 25, 2017 Finance Committee minutes: Motion was made by Linder, seconded by Doyle, to approve the September 25, 2017 Finance Committee minutes with no amendments. Motion carried 2-0. Discussion and Possible Action regarding the payment of bills: Motion was made by Doyle, seconded by Linder, to approve the payment of bills totaling $383,605.74. Motion carried 2-0. Discussion and Possible Action regarding Special Assessment Receivable Balances. Discussion took place on the three special assessment receivable balances of $7,253.00 for special assessment for curb and gutter in the debt service fund, $2,312.14 for laterals in the water fund and $14,044.02 in the wastewater fund. All three of the special assessment receivables were before 1999 on the financial system. A brief description on why they should be written off was supplied by the Public Works Department. A Motion was made by Linder, seconded by Doyle, to approve the write off of the three special assessment balances as noted above. Motion carried 2-0. Discussion re: 2018 Budget Updates. Mikorski updated the committee of the 2018 budget. He explained that we are still waiting on the assessed value amount with manufacturing and the expenditure restraint amount from the state. He also stated that we continue to look at the direction of the committee with 3 new position, 3% COLA and stay at a 0% increase in taxes. Discussion took place on the timing of meetings and the next step would be to present the budget to the Finance Committee at the October 23rd meeting. No action taken. Adjournment: Motion by Linder, seconded by Doyle, to adjourn the Finance Committee Meeting at 6:45 p.m. Motion carried 2-0. Respectfully submitted, Brian Lamers CPA, Finance Director www.ci.verona.wi.us