Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE OCTOBER 12, 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 6:31 p.m. Roll Call: Chairperson Chad Kemp, Alder Kate Cronin and Alder Christine Posey were present. Also present: City Administrator Adam Sayre and Finance Director Brian Lamers. Discussion and Possible Action regarding approval of September 28, 2020 Finance Committee minutes: Motion was made by Cronin, seconded by Posey to approve the September 28, 2020 Finance Committee minutes with no changes noted. Motion carried 3-0. Discussion and Possible Action approving Resolution R-20-037Approving the Fee Schedule for 2021: Lamers stated that there was only a $3 increase in annual Operator’s license. Motion was made by Kemp, seconded by Cronin to approve Resolution R-20-037 Approving the Fee Schedule for 2021 and recommend forwarding to the City Council for approval. Motion carried 3-0. Discussion and Possible Action regarding Updates on the 2021 Budget: Lamers stated there was an estimated increase in General Transportation Aids of $141,696. The suggested budget changes are, adding $7,319 to contingency to bring back to $80,000, add $50,000 to City Center Facility replacement bringing that back to $100,000, adding $20,000 to Public Works/Parks Facility replacement fund, adding $3,000 to Forestry budget, increase both equipment replacement funds for Public Works/Parks and Public Safety by $15,000 each, and restore some of the pavement rehabilitation budget that was reduced by $31,377. Lamers stated if there were no changes we will be publishing regarding the public hearing around October 31, 2020. Discussion and Possible Action regarding the City Investment Report for September 2020: Lamers stated there is nothing worth noting on the investment report. Discussion and Possible Action regarding the Revenue and Expenditure Summary Report for September 2020: Lamers stated we will be getting the third quarter room tax at the end of October, which will give us a better idea where we will be at year end for room tax revenue. www.ci.verona.wi.us Also there will be a significant revenue decline in the Recreation programs. Building Inspection revenue is anticipating higher, but the expense will be higher due to Contracted Services being over budget. There are still a couple positions still left open at the City. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Posey to approve the payment of bills totaling $448,212.66. 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