Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE JULY 13, 2020 Due to the COVID-19 pandemic, the Verona Finance Committee held its meeting as a virtual meeting. The Finance Committee did not meet at City Hall, 111 Lincoln Street. Members of the Finance Committee and Staff joined the meeting by using Zoom Webinar. Members of the public were able to join the meeting using Zoom Webinar via a computer, tablet, or smartphone, or by calling into the meeting via phone. The meeting was called to order by Chairperson Chad Kemp at 6:01 p.m. Roll Call: Chairperson Chad Kemp, Alder Kate Cronin and Alder Christine Posey were present Also present: City Mayor Luke Diaz, City Administrator Adam Sayre, Finance Director Brian Lamers, Police Chief Bernie Coughlin and Fire Chief Dan Machotka. Discussion and Possible Action regarding approval of June 22, 2020 Finance Committee minutes: Motion was made by Kemp, seconded by Posey to approve the June 22, 2020 Finance Committee minutes with no changes noted. Motion carried 3-0. Discussion and Possible Action regarding Updates on the 2021 Budget, Capital Request from the Fire and Police Departments: Chief Coughlin presented a memo to the Finance Committee with the explanation of the capital request. Of the 9 request 8 of them are replacement items. The body cameras are a new item and not under replacement. Mayor Diaz asked about the ongoing cost of the body cameras. Chief Coughlin stated it is a lot of data storage and retention, also additional maintenance and replacement. Mayor Diaz brought up about the policies that would have to be in place. Cronin asked about the union stance on the use of body cameras. Chief Coughlin stated that the union is acceptance of this. Chief Machotka went thought the capital request for the Fire Department. Posey asked if the new radios would help with the issues there has been with Dane County and last for a long time. Chief Machotka stated this should help with the new radios. Lamers explained that looking at the 5-year plan just with the request from just the police the equipment replacement would be depleted by 2025 or so and that does not include any replacement for the Fire Department. Discussion took place regarding the replacement fund and being aware of what is being requested and replaced and how much is being funded in those replacement funds. Discussion and Possible Action regarding the City Investment Report for June 2020: Lamers stated that the investments went down about a million dollars which is due to operations and payment of bills. We will be getting a tax settlement from Dane County around August 20th. www.ci.verona.wi.us Discussion and Possible Action regarding the Revenue and Expenditure Report for June 2020: Lamers stated there is a drop in recreation revenue and room tax revenue will not hit the budgeted revenue by the end of the year. Lamers stated that there are a couple positions still left open to help offset any budget issues and also there is an $80,000 contingency built in the budget if needed. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Cronin to approve the payment of bills totaling $1,159,587.36. Motion carried 3-0. Adjournment: Motion was made by Cronin, seconded by Posey, to adjourn the Finance Committee Meeting at 6:39 p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us