Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE DECEMBER 9, 2024 The meeting was called to order by Chairperson Mara Helmke at 6:31 p.m. Roll Call: Chairperson Mara Helmke and Alder Christine Posey were present and Alder Patrick Lytle was excused. Also present: City Administrator Jamie Aulik and Finance Director Brian Lamers Discussion and Possible Action regarding approval of November 11, 2024 Finance Committee minutes: Motion was made by Posey, seconded by Helmke to approve the November 11, 2024 Finance Committee minutes with no changes noted. Motion carried 2-0. Discussion and Possible Action regarding Library purchase of the Sorter in 2024 versus 2025: Lamers stated that in 2024 the sorter was budgeted but due to some budgeted changes half of the cost was going to be paid in 2024 for the downpayment and entered as a prepaid, the 2024 budget was $46,751. In 2025, the other portion was budgeted for $52,000, so the purchase could be done in 2025. Lamers stated that he found out the Library purchased the sorter in 2024 and had it installed for $104,495. After discussion with the Library Director she thought they could just bill us in 2025. Lamers stated since we have the asset, installed and being used we would be required to expense the whole amount in 2024. This would make the Library fund balance go down by $52,000 in 2024 and it would go back up by $52,000 in 2025. Discussion and Possible Action regarding the payment of bills: Motion was made by Posey, seconded by Helmke to approve the payment of bills totaling $1,692,925.03. Motion carried 2-0. Adjournment: Motion was made by Posey, seconded by Helmke to adjourn the Finance Committee Meeting at 6:39 p.m. Motion carried 2-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us