Finance Committee

City of Verona Finance Committee City Hall – 111 Lincoln Street Verona, WI 53593-1520 MINUTES FINANCE COMMITTEE MARCH 24, 2025 The meeting was called to order by Alder Christine Posey at 6:18 p.m. Roll Call: Alder Christine Posey and Alder Patrick Lytle were present. Chairperson Mara Helmle was excused. Public Comment: Mayor Diaz spoke in regards to the solar panels and the Task Force discussion of future tariffs and incentives possibly going away this is the time to do them. He also stated that the panels will eventually pay for themselves. Also present: Mayor Luke Diaz, Alder Beth Tucker Long, City Administrator Jamie Aulik and Finance Director Brian Lamers Discussion and Possible Action regarding approval of March 10, 2025 Finance Committee minutes: Motion was made by Lytle, seconded by Posey to approve the March 10, 2025 Finance Committee minutes with no changes noted. Motion carried 2-0. Discussion and Possible Action regarding Changes to the Investment Policy for ESG (Environmental, Social and Governance) Investing: Lamers stated that #8 to the Authorized Investments was added to the policy. After Discussion a motion was made by Lytle, seconded by Posey to recommend to the City Council the changes to the Investment Policy for ESG investing. Motion carried 2-0. Discussion and Possible Action regarding Recommend to the City Council for Approval from Arch Solar City Hall Quote Contingent on a Budget Amendment and Upon Staff Verification of a Positive Review by Wauwatosa of their Arch Solar Project: Discussion and Possible Action regarding Recommend to the City Council also for Approval from Arch Solar Fire Station Quote Contingent on a Budget Amendment and Upon Staff Verification of a Positive Review by Wauwatosa of their Arch Solar Project: The two agenda items were combined to one motion. After discussion on these agenda items a motion was made by Lytle, seconded by Posey to recommend the approval to the City Council of quotes from Arch Solar for solar panels for City Center and Fire Station using $59,270 from the Fire Department fund balance, and $10,433 coming from the contingency fund towards the solar panel project. Motion carried 2-0. www.ci.verona.wi.us Discussion and Possible Action regarding the Revenue and Expenditure Summary Report- February 2025: Lamers stated with so early in the year there is nothing to be noted. Discussion and Possible Action regarding the City Investment Report-February 2025: Lamers stated nothing significant noted with the decrease due to tax settlements in February. Discussion and Possible Action regarding the payment of bills: Motion was made by Lytle, seconded by Posey to approve the payment of bills totaling $1,898,251.82. Motion carried 2-0. Adjournment: Motion was made by Lytle, seconded by Posey to adjourn the Finance Committee Meeting at 6:40 p.m. Motion carried 2-0. Respectfully submitted, Brian Lamers CPA Finance Director www.ci.verona.wi.us