Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE November 20, 2017 The meeting was called to order by Alder William “Mac” McGilvray at 6:13 p.m. in Conference Room D110. Roll Call: Alder William “Mac” McGilvray and Alder Elizabeth Doyle were present, Alder Jack Linder became present later. Also present: City Administrator Jeff Mikorski, Finance Director Brian Lamers, Mayor Jon Hochkammer, Alder Brad Stiner and Alder Evan Touchett. Discussion and Possible Action regarding approval of November 13, 2017 Finance Committee minutes: Motion by McGilvray, seconded by Doyle to approve the November 13, 2017 Finance Committee minutes with no amendments. Motion carried 2-0. Discussion and Possible Action regarding the payment of bills: Motion by McGilvray, seconded by Doyle, to approve the payment of bills totaling $103,435.32. Motion carried 2-0. Alder Jack Linder became present at 6:25 p.m. Discussion and Possible Action regarding Resolution R-17-057 Approving the 2018 City of Verona Budget: Mikorski explained the 2018 proposed budget includes a 1.86% increase in the amount of levy collected, which will be an increase of approximately $243,000 in the general fund. He discussed the 3 new positions and the addition Sunday hours at the Library. He explained the budget will include funding of more than 50% of mill and overlay to help reduce the debt. The budget includes a 3% COLA for non-representative employees to match the representative employees. The budget also includes continuing funding of $510,000 in the replacement fund. He explained this is the 4th year without an increase in taxes and the 3rd year for a reduction in property taxes. The Committee discussed the 3 amendments that were submitted. The first amendment was a reduction of the fund balance to 34% and put the funds towards capital to reduce the borrowing. The discussion took place regarding the assignment of fund balance to put towards covering the liability for potential sick leave payouts. Discussion took place regarding the second amendment to reduce the fund balance by $30,000 and put it towards a housing study. Alternative solutions came up that may be less costly or no cost at all. The third amendment was increasing the levy by $30,000 to put towards a study to look at the Badger Mill Creek which has been included on the DNR listing as an impaired river. Motion by McGilvray, seconded by Linder to approve Resolution R-17-057 to Approve the 2018 City of Verona Budget. Motion carried 3-0. www.ci.verona.wi.us Discussion and Possible Action regarding Resolution R-17-058 Approving the Levying of Property Taxes for City Purposes: Motion by Linder, seconded by Doyle to approve Resolution R-17-058 to Approve the Levying of Property Taxes for City Purposes. Motion carried 3-0. Discussion and Possible Action on the October Investment Report: Lamers went through the investment report for October. No action taken. Discussion and Possible Action regarding Review of Miscellaneous Receivable Balances and Delinquent Personal Property Taxes. Discussion took place regarding the receivable balances, notices have been sent out with some coming back again as undeliverable or other issues with the balances. Lamers explained some steps that have been taken to keep up more timely on receivable balances including sending out more notices, collecting up front for second meters and some of them including on the tax bills as special assessments. Lamers asked the committee if the ones that were highlighted on the attached listing could be written off. These balances were from 2009-2015. Motion was made by Linder, seconded by Doyle to approve writing off $5,606.05 from the miscellaneous accounts receivable balances. Motion carried 3-0. Lamers went through the personal property tax listing and explained the ones there were highlighted were either unable to deliver and have moved or have closed and the business no longer exist. Motion was made by McGilvray, seconded by Linder to approve a writing off a total of $7,908.14 in delinquent personal property taxes. Motion carried 3-0. Adjournment: Motion by McGilvray, seconded by Doyle, to adjourn the Finance Committee Meeting at 6:50 p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us