Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE SEPTEMBER 12, 2022 The meeting was called to order by Alder Christine Posey at 6:04 p.m. Roll Call: Alder Mara Helmke and Alder Christine Posey were present. Chairperson Chad Kemp arrived late. Also present: Mayor Luke Diaz, Alder Rye Kimmett, City Administrator Adam Sayre, Finance Director Brian Lamers, EMS Chief Patrick Anderson and Interim Police Chief Dave Dresser Discussion and Possible Action regarding approval of August 22, 2022, Finance Committee minutes: Motion was made by Helmke, seconded by Posey to approve the August 22, 2022, Finance Committee minutes with no changes noted. Motion carried 2-0. Chairperson Chad Kemp arrived at 6:10 p.m. Discussion and Possible Action regarding any updates or information on the 2023 Budget: EMS Chief Patrick Anderson went through his budget. He explained about a new program utilizing EMS Interns and Volunteers with receiving funds from the state towards tuition with no budget impact yet. He also explained a partnership now with UW Hospital Emergency Education Center for training. He explained that the run income has been higher in 2022 which he increased also for the 2023 budget. He explained the main increase is in salary and benefits, in the middle of contract negotiations there is an estimated 3% increase in wages. He stated that included in the budget is adding back the intern program that has been taken out of the budget for the past 2 years to help to restore the fund balance. There is also a line item for reserve funding to help restore the fund balance which is at about 13% and should be 15%-25% per the agreement. He also explained there we increases in fuel and supplies cost. Lamers stated there is about $173,000, which is the City’s portion, in the capital budget for a new ambulance. That is covered with the capital revolving fund that we add $100,000 a year to. Interim Police Chief Dave Dresser presented the 2023 Police Budget. He passed out a memorandum that addressed the changes in the 2023 budget. He went through the current personnel and the population and explained there would probably be a need in next year’s budget for an additional position in the department. He explained the overall budget for the department went up by 6.75%. The majority on increase is due to cost of personnel cost and went through the percentage of changes. He stated that the in the 2023 budget the overtime had been restored to from previous reductions. He then went through the operating expenses and some of the increases. He also stated that the $10,000 in repairs and maintenance was also restored that had been reduced in the 2022 budget. www.ci.verona.wi.us Discussion and Possible Action regarding the Revenue and Expenditure Summary Report- August 2022: Lamers stated again the biggest concern is interest revenue. Discussion and Possible Action regarding the City Investment Report-August 2022: Lamers stated there isn’t much to discuss. Discussion and Possible Action regarding the Writing off Delinquent Personal Property Taxes: Lamers stated there are still 2 outstanding personal property balances in the amount of $211.59. Pinnacle Propane Express just finally paid the 2020 but claimed they were no longer in business in 2021 which has a balance of $15.68 and RIT Nutrition and Training has a balance of $195.91 and has closed, we have been unable to contact any one and all letters are returned. A motion was made by Kemp, seconded by Helmke to approve the write off delinquent personal property taxes in the amount of $211.59. Motion carried 3-0. Discussion and Possible Action on Recommending to the Council for the Approval of Administrative Policy No. 65, Lease Accounting Policy: Lamers stated this policy we worked with the Auditors and is due to the GASB change for Lease Accounting. This will help set the threshold on what the City will need to record for leases. A motion was made by Posey, seconded by Helmke to recommend the approval of Administrative Policy No. 65, Lease Accounting Policy to the City Council. Motion carried 3-0. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Posey to approve the payment of bills totaling $965,229.95. Motion carried 3-0. Adjournment: Motion was made by Kemp, seconded by Posey to adjourn the Finance Committee Meeting at 6:59 p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us