Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE JULY 22, 2019 The meeting was called to order by Chairperson Chad Kemp at 5:45 p.m. in Conference Room D110 Roll Call: Chairperson Chad Kemp, Alder Kate Cronin and Alder Christine Posey were present Also present: Mayor Luke Diaz, Interim City Administrator Adam Sayre, Finance Director Brian Lamers, Public Works Director Theran Jacobson, Parks Director Dave Walker and Jim Ferolie from the Verona Press Public Comment: None Discussion and Possible Action regarding approval of July 8, 2019 Finance Committee minutes: Motion was made by Kemp, seconded by Cronin to approve the July 8, 2019 Finance Committee minutes with no changes noted. Motion carried 3-0. Discussion and Possible Action regarding Updates on the 2020 Budget and Capital Request for Public Works and Parks Departments: Director Dave Walker went over the listing of capital projects for the Parks and Recreation budget for 2020 and the 5 year capital budget. A couple of the highlighted areas included $425,000 for development of Kettle Creek Park, $300,000 for development of North Neighborhood Park, $2,220,000 for the public works facility in 2021 and 2022. The 2020 budget requests include a dump truck replacement for $50,000, pickup replacement for $32,000, tree program for $8,000 and other park replacement and improvement items of $99,000 total. Public Works Director Theran Jacobson went over the public works capital plan and the utility capital plans. A couple highlighted items include the annual pavement rehabilitation program for $725,000 in the 2020 budget, $600,000 for pedestrian and bike trail projects and $260,000 for design and other fees for the public works facility. Also in 2020 budget includes $1,500,000 for East Verona Avenue and Legion Street utilities for Sugar Creek Commons. There was discussion regarding the 2022 plan to replace Country View Road from Epic Lane to CTH PD for an estimated $2,000,000. This roadway is in the Town of Verona jurisdiction and is not being maintain and should be rebuilt. This will be an ongoing discussion with the City. In the 5 year plan there is $8,880,000 for construction of the public works facility in the public works budget, water potion of $1,480,000, storm water portion of $740,000 and sewer portion of $1,480,000. The 2020 budget includes $1,100,000 to Verona Area School District for road improvements. Also in the 2020 sewer budget is the eastside interceptor project for $4,700,000. Jacobson went over the road project and equipment for all 4 budget areas. www.ci.verona.wi.us Discussion and Possible Action regarding the City Investment Report for June 2019: Lamers stated there was a decrease in investments due to debt payments and all the expenditures for projects. In July we received out 2019 Bond issue for $2.5 million and we will be receiving over $7 million for the August tax settlement. Discussion and Possible Action regarding the Revenue and Expenditure Report for June 2019: Lamers stated since last month there are no concerns that we haven’t already discussed from last month. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Posey to approve the payment of bills totaling $1,985,164.89. Motion carried 3-0. Adjournment: Motion was made by Cronin, seconded by Posey, to adjourn the Finance Committee Meeting at 6:54 p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us