Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE OCTOBER 3, 2023 The meeting was called to order by Alder Mara Helmke at 6:01 p.m. Roll Call: Alder Mara Helmke and Alder Christine Posey were present. Chairperson Chad Kemp was absent. Also present: Mayor Luke Diaz, City Administrator Jamie Aulik and Finance Director Brian Lamers. Discussion and Possible Action regarding approval of September 25, 2023, Finance Committee minutes: Motion was made by Helmke, seconded by Posey to approve the September 25, 2023, Finance Committee minutes with no changes noted. Motion carried 2-0. Discussion and Possible Action regarding any updates or information on the 2024 Budget: Lamers stated that the Parks Director received estimates for an electric option for the pickup truck that was budgeted for Parks. The budget was currently at $60,000 and with the estimate the truck would be at $54,000 and the charging station at $12,000. Lamers stated that he could bump up the equipment replacement usage up by $6,000. After discussion on the electric model the Committee approved the change. Lamers explained that the EMS budget for the City of Verona was a reduction of $10,243, however the City of Fitchburg’s portion went up. The City of Fitchburg is requesting the Finance Committee pass a resolution that gives them the ability to exceed their levy limit. Lamers explained that this would have no impact for the City of Verona. The second thing the City of Fitchburg requested is that the EMS budget be increased by $41,000 to increase the Reserve Funding, which would help them bring up the reserve to the higher level of the recommended funds. Lamers explained that the City portion would be approximately $16,000, which the City would have to come up with the $10,243 to fund and the remaining amount of approximately $6,000 could be a levy limit adjustment, with the passage of the resolution. If the City took the levy limit adjustment it would benefit for the following years after if that levy limit increase. Lamers stated we could use the levy limit adjustment of approximately $10,000 for land that we annexed in 2023. He also noted that the $16,000 then would still be an increase to the mill rate. The Committee stated they would support that if there were no changes to the addition of the second Deputy Chief. Discussion took place regarding the addition to the second EMS Deputy Chief that was added to the EMS budget is necessary. After further discussion the Committee requested that the Mayor and Administrator find out if the City could do anything if it didn’t agree with the addition to the position and schedule a meeting with the EMS Chief to discuss. Lamers handed out a sheet that had a breakdown of options to cover the over levy limit with the 7%, 6% and 5% COLA (Cost of Living Adjustment). Lamers discussed the options and after consideration the Committee agreed that www.ci.verona.wi.us the proposed budgets should include the 7% COLA to try to catch up with some of the surrounding communities for recruiting and retention of employees and to make the changes in the 7% COLA column to cover the overage and get back to the levy limit. Adjournment: Motion was made by Posey, seconded by Helmke to adjourn the Finance Committee Meeting at 6:55 p.m. Motion carried 2-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us