Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE OCTOBER 23, 2023 The meeting was called to order by Alder Mara Helmke at 5:47 p.m. Roll Call: Alder Mara Helmke and Alder Christine Posey were present. Chairperson Chad Kemp present at 5:50 p.m. Also present: Mayor Luke Diaz, City Administrator Jamie Aulik, Finance Director Brian Lamers, Police Chief Dave Dresser and Interim Director of Public Work/Parks Director Adam Waszak. Discussion and Possible Action regarding approval of October 9, 2023, Finance Committee minutes: Motion was made by Posey, seconded by Helmke to approve the October 9, 2023, Finance Committee minutes with no changes noted. Motion carried 2-0. Discussion and Possible Action regarding recommending to the City Council Resolution R-23- 030, Resolution Approving Exceeding the Levy Limit for Joint EMS District: Motion was made by Posey, seconded by Helmke to recommend to the City Council approval of Resolution R-23- 030, Approving Exceeding the Levy Limit for Joint EMS Districts. Motion carried 2-0. Discussion and Possible Action regarding recommending to the City Council Resolution R-23- 031, Resolution Approving the 2024 Fitch-Rona EMS Operating and Capital Budgets: Motion was made by Posey, seconded by Kemp to recommend to the City Council approval of Resolution R-23-031, Approving the 2024 Fitch-Rona EMS Operating and Capital Budgets. Motion carried 3-0. Discussion and Possible Action regarding Approval of an Equipment Loan Program for Sworn Police Staff: Police Chief Dave Dresser explained the program to the Committee that the City would loan interest free up to $2,000 or $2,500 (to be determined) for a total of 24 months payback through payroll deductions. The cost to the City would be the interest lost on the funds that are outstanding. This would only be for qualifying equipment. Lamers stated this would just be a receivable on the City’s books. After further discussion a motion was made by Posey and seconded by Kemp to approve a Loan Program for the Police Department. Motion carried 3-0. Discussion and Possible Action regarding Changes to the Pay Structure to the Director of Public Works from Grade 21 to Grade 22A, Assistant Public Works Director from Grade 16 to Grade 19 and Construction Engineer from Grade 15 to Grade 19: Lamers stated on the spreadsheet for 2023 impact would be under $5,000 with the changes for the Director of Public Works and the Assistant Public Works Director. He stated the Construction Engineer would not be filled in www.ci.verona.wi.us 2024. After further discussion a motion was made by Posey and seconded by Kemp to approve the changes to the pay structure presented. Motion carried 3-0. Discussion and Possible Action regarding any updates or information on the 2024 Budget: Lamers pointed out the spreadsheet for the 2024 impacts to the changes that were approved at the Personnel Committee, he stated that the Public Works Director was budgeted in 2024 budget, the Assistant was only budgeted at Grade 18 and now approved for Grade 19, which the increase is $6,272, the Construction Engineer was moved from Grade 15 to Grade 19, which was not budgeted and the impact is $27,187, the Human Resources Coordinator was approved to go from Grade 15 to Grade 17 with an impact of $12,914. Lamers stated this total impact to the 2024 budget that was not considered is $46,373. Lamers stated the intent was to not fill the Construction Engineer until the $46,373 was covered so there was no impact to the budget levy. Lamers stated that we received the final equalized value from the state and the mill rate for the City will be going from $4.4787 to $4.5346, so on a $400,000 home it will go from $1,791.48 to $1,813.84, an increase of $22.36. Lamers talked about the impact of the 2024 budget on the Fund Balance Policy. With the changes to wages he stated the estimated change to the sick leave reserve in the Genera Fund is estimated to increase by about $97,000 and with the increase in expenditures for the General Fund and the policy of the 35%, the increase is about $267,000, so a total of approximately $364,000. He stated this is just giving an idea why we should not be utilizing saving in the current budget year if we can avoid it. He stated Library Fund Balance will need to increase by approximately $128,000 and Fire approximately $122,000. Discussion and Possible Action regarding the City Investment Report-September 2023: Lamers stated there is nothing really to report and the City is on track to exceed budget for investment revenue. Discussion and Possible Action regarding the Revenue and Expenditure Summary Report- September 2023: Lamers stated that there are no concerns. Discussion and Possible Action regarding the payment of bills: Motion was made by Kemp, seconded by Posey to approve the payment of bills totaling $1,473,424.48. Motion carried 3-0. Adjournment: Motion was made by Kemp, seconded by Posey to adjourn the Finance Committee Meeting at 6:09 p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us