Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE JUNE 10, 2024 The meeting was called to order by Chairperson Mara Helmke at 6:30 p.m. Roll Call: Chairperson Mara Helmke, Alder Christine Posey and Alder Patrick Lytle were present. Also present: City Administrator Jamie Aulik and Finance Director Brian Lamers Discussion and Possible Action regarding approval of May 28, 2024 Finance Committee minutes: Motion was made by Posey, seconded by Lytle to approve the May 28, 2024 Finance Committee minutes with no changes noted. Motion carried 3-0. ] Discussion and Possible Action regarding 2025 Budget Items: Aulik explained there are some 2025 budget items that he would like to bring up to the Committee. Aulik explained that there is an opportunity with Greater Madison MPO to do an application for federal funding for a Safe Route to School Plan. The cost of the plan would be $150,000 with the City requiring to provide $30,000 in the 2025 budget and the remaining through federal funding. Aulik stated another possible 2025 budget item is approximately $200,000 to $250,000 for IT (Information Technology) infrastructure. He stated he has talked to the City of Fitchburg and the estimated annual cost estimate for IT services provided by them would be about $250,000 a year. He explained that there was an outside company that was estimated at $144,000 a year, but that was a few months back. Aulik brought up about budgeting for an outside independent consultant to come in to do a compensation study for the City. The last one that was done was approximately 10 years ago. He went through some of the surrounding communities that have done them over the past few years and the cost which ranged from $25,000 to $36,000. The Committee felt that this is something that should be done. No action taken. Discussion and Possible Action regarding the City Investment Report-May 2024: Lamers stated nothing significant noted. Discussion and Possible Action regarding the Revenue and Expenditure Summary Report-May 2024: Lamers stated there is nothing to be concerned about at this time. Discussion and Possible Action regarding the payment of bills: Motion was made by Posey, seconded by Lytle to approve the payment of bills totaling $667,261.91. Motion carried 3-0. www.ci.verona.wi.us Adjournment: Motion was made by Posey, seconded by Lytle to adjourn the Finance Committee Meeting at 6:56p.m. Motion carried 3-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us