FINANCE COMMITTEE

VILLAGE OF WAUNAKEE FINANCE COMMITTEE MEETING 500 West Main Street April 15, 2019 5:30 PM Meeting Minutes CALL TO ORDER Chairperson Sue Springman called the meeting to order at 5:31 P.M. ROLL CALL Members present: Sue Springman, Chris Zellner, Sam Ballweg, and Renee Meinholz Also present: Todd Schmidt, Nila Frye, Vaughn Frye, Barb Dresen, Deb Ruchti, Sam Kaufmann, Victor Baeten CONSENT AGENDA Items under the consent agenda may be acted upon by one motion. If, in the judgment of any Board Member, a consent agenda item needs discussion, the item may be moved to later on the agenda for discussion and/or action. 1 Consider approval of minutes - March 25, 2019 Motion by Chris Zellner to approve the consent agenda, seconded by Sam Ballweg. Motion Pass. For: 3 - Sam Ballweg, Chris Zellner, Sue Springman, Against: 0. PUBLIC COMMENT None NEW BUSINESS 1 Discuss and Take Action on a Resolution Approving Fund Transfers and Budget Amendments The Finance Director discussed the proposed budget amendments. She stated that it has been the village's practice to approve budget amendments only once per year, after the audit has taken place and final numbers are known. By state law, the village cannot expend more than has been legally appropriated by the board, making the budget amendments necessary. She went through line by line and explained the line item and the reason for the adjustment needed. In several cases, there is a revenue source to cover the expenditure. In other cases, excess revenues or departments that were under budget are used to cover the expenditure. Sue Springman asked why refuse services was over budget. The Finance Director explained that the budget is based on an estimate of the number of customers that will use refuse services in the budget year. As more homes are added, the expense goes up. The revenue also goes up accordingly however, there is typically a one-month lag from when we pay the bill until we get the revenue from the utility bills. There was no further discussion. Motion by Sam Ballweg to approve fund transfers and budget amendments., seconded by Chris Zellner. Motion Pass. For: 3 - Sam Ballweg, Chris Zellner, Sue Springman, Against: 0. 2 Discuss 12/31/18 Executive Summary The Finance Director went though some key items on the Executive Summary that hadn't already been discussed during the budget amendment agenda item, including miscellaneous revenues that were over budget and the fact that the revenues in excess of expenditures were $349,269 for 2018. No action was taken. ADJOURN Motion by Chris Zellner to adjourn, seconded by Sam Ballweg. Motion Pass. For: 3 - Sam Ballweg, Chris Zellner, Sue Springman, Against: 0. Respectfully Submitted, _____________________________________