Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE SEPTEMBER 27, 2021 The meeting was called to order by Chairperson Chad Kemp at 6:15 p.m. Roll Call: Chairperson Chad Kemp, Alder Kate Cronin and Alder Christine Posey were present. Also present: Mayor Luke Diaz, City Administrator Adam Sayre and Finance Director Brian Lamers. Discussion and Possible Action regarding approval of September 20, 2021 Finance Committee minutes: Motion was made by Cronin, seconded by Posey to approve the September 20, 2021 Finance Committee minutes with no changes noted. Motion carried 3-0. Discussion and Possible Action regarding any Updates or Information on the 2022 Budget, Department Budget Presentations: Lamers went over the Administration Budget and stated cost for personnel were up 6.35% due to COLA and health insurance increases. There are two positions within Administration that will be going from single health insurance to family plan. There was some savings in wages and benefits with the reduction of the Utility Accountant to 60%, although only a portion of that is to Administration and a larger part is utility budgets. Wages for Election cost are also up due to 4 elections instead of 2 and that will also reflect in an increase in the operation budget for election. Another major increase in the operation budget is the addition of $55,000 for the Assessor for a market reassessment. Lamers went through the Verona Economic Development Commission (VEDC) Budget and stated that the VACT paid off their loan this year and the only outstanding loan remaining is for the Seventeenth Radish. Lamers stated that the estimated amount in the VEDC is $727,700. He stated the amount replaced by the Federal Grant of $215,970 may have to be moved out of there and may not be eligible for reimbursement and are still reviewing with the guidelines. Lamers went through the Debt budget and pointed out that the Library debt levy dropped by $41,750 and general debt levy dropped by $201,747. He stated with the reduction in borrowing in the past couple years and the increase in impact fee usage contributed to this reduction. He pointed out from last year the general obligation debt outstanding in 2020 was $51,109,654 and in 2021 was $44,591,658. Lamers went over the TIF budgets and stated we will not know the TIF increments until we get the other taxing entities levy. He stated in TIF 4 the only expenditures are repayment of debt, administration cost and a pay-go for the Keller-Burke properties. TIF 6 is the remaining debt payment in 2022 and administrative cost. The increments were approved to go to affordable housing projects. TIF 8 there was a little over $2 million received from a developer for www.ci.verona.wi.us infrastructure projects that will be done in 2022 and a pay-go for repayment. TIF 9 there are agreements currently being worked on. TIF 10 included the ACS project and a pay-go is in place for that. Lamers stated the staffing table changes for 2022 were the reduction of the Utility Accountant from 100% to 60%, there was changes in the Public Works titles, the Senior Center eliminated a 50% Administrative Assistant and increased from 55% to 100% the Nutrition Aide. Throughout the year there was a change from Assistant Fire Chief to Battalion Chief at the Fire Department. Lamers stated we received the estimated General Transportation Aids and ended up being approximately $140,330 more than anticipated. The amount is not anticipated to remain going up because it is based on so many years of road cost and the two major projects (CTH M and CTH PD) are almost complete and the expectation that it will start being reduced. With that amount we are proposing funding the Planning Director back ($68,660), not utilizing the Senior Center fund balance ($15,000), restore the contingency ($20,000), restore the Forestry Department and not utilize room tax fund ($12,500), and increase the equipment replacement funds ($24,000). Discussion and Possible Action regarding Resolution R-21-041 Approving the Fee Schedule for 2022: Lamers stated that the changes to the fee schedule were mainly some Recreation Programs and Building Inspection fees. Motion was made by Kemp, seconded by Cronin to recommend approval of Resolution R-21-041 Approving the Fee Schedule for 2022 to Common Council. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Posey to approve the payment of bills totaling $600,436.11. Motion carried 3-0. Adjournment: Motion was made by Cronin, seconded by Posey to adjourn the Finance Committee Meeting at 6:27 p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us