Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE February 8, 2021 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 January 25, 2021 Finance Committee minutes: Motion was made by Cronin, seconded by Posey to approve the January 25, 2021 Finance Committee minutes with no changes noted. Motion carried 3-0. Discussion and Possible Action regarding the Preliminary Revenue and Expenditure Report for December 2020: Lamers stated there are still some adjustments for 2020 that will change some of the numbers. He stated room tax revenue was budgeted for $180,000 with actual revenue only being around $60,000. Permit revenue was budgeted around $386,000 and actual was around $349,000 and Recreation programs were budgeted at $255,000 and actual was around $150,000. Interest Income was above budget by $139,000 and the City hadn’t used any of the $80,000 contingency. Municipal Court was over budgeted expenses by approximately $8,000 due to outside legal cost. Buildings & Grounds appears to be over by $6,700, however that is due to carryover funds to complete the parking lot. Building Inspection expense is over budget by about $4,400 due to contracted services. Many departments have had savings and the City should be in good shape at the end of 2020. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Posey to approve the payment of bills totaling $2,587,936.92. 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