Finance Committee - Inactive

Village of Weston, Wisconsin OFFICIAL PROCEEDINGS OF THE FINANCE COMMITTEE held on Monday, May 16, 2022, at 4:30 p.m., in the Board Room at the Municipal Center. AGENDA ITEMS. 1. Finance Committee Call to Order & Welcome by Chairperson Weiland. Meeting called to order at 4:30 p.m. by Finance Committee Chairperson Weiland. 2. Roll Call by Recording Secretary. Roll call of Finance Committee indicated 4 members present. Member Present Vacant* NO Gau, Duane YES Hartinger, Jasper YES Jelmeland, Dave YES Weiland, Jamie YES * Dave Diesen was appointed by the Village President, but did not take an oath of office until after the meeting 3. Approval of minutes from previous meeting: April 18, 2022 Finance motion by Gau, second by Hartinger, to approve previous minutes from April 18, 2022. Yes Vote: 4 No Votes: 0 Abstain: 0 Not Voting: 1 Result: PASS Member Voting Vacant --- Gau, Duane YES Hartinger, Jasper YES Jelmeland, Dave YES Weiland, Jamie YES 4. Public Comments. None. ACKNOWLEDGE WORK PRODUCT TRANSMITTALS. 5. April Budget Status Report Trautman gave an overview of the April report. Motion by Gau, second by Jelmeland, to acknowledge the April budget status report. Yes Vote: 4 No Votes: 0 Abstain: 0 Not Voting: 1 Result: PASS Member Voting Vacant --- Gau, Duane YES Hartinger, Jasper YES Jelmeland, Dave YES Weiland, Jamie YES Jenna Trittin updated @ 5/31/2022 10:53 AM Page 1 Mtg_ FC_220516_Minutes P:\GOVERN\COMMITTEES\Finance\2022\220516\Mtg_FIN_220516_Minutes.docx  6. TIF 1 and TIF 2 Detail Reports for April Trautman gave an overview of the TIF reports and what each fund is used for. There was discussion on how employee time and other expenses are allocated to the TIF districts. Trautman and Donner stated admin time is allocated by percentage as an estimate of how people are spending their time. Gau stated his concern is with covering the costs when the TIFs close. Trautman stated current costs are considered when discussing TIF closure. Motion by Hartinger, second by Gau, to acknowledge the TIF 1 and TIF 2 reports for April. Yes Vote: 4 No Votes: 0 Abstain: 0 Not Voting: 1 Result: PASS Member Voting Vacant --- Gau, Duane YES Hartinger, Jasper YES Jelmeland, Dave YES Weiland, Jamie YES EDUCATIONAL PRESENTATIONS & REPORTS. 7. Government Accounting 101 Presentation Trautman and Trittin gave a presentation on government accounting. There was discussion throughout the presentation. Trautman invited the Committee to reach out with questions. Motion by Gau, second by Jelmeland, to acknowledge the presentation. Yes Vote: 4 No Votes: 0 Abstain: 0 Not Voting: 1 Result: PASS Member Voting Vacant --- Gau, Duane YES Hartinger, Jasper YES Jelmeland, Dave YES Weiland, Jamie YES POLICY ISSUES – DISCUSSIONS/RECOMMENDATIONS. 8. Discussion and possible recommendation on procurement policy for purchases with grant funds Trautman gave an overview of the policy and stated another policy would be brought back for non-grant purchases. The policy presented is specific to purchases with grant funds. Motion by Gau, second by Hartinger, to recommend Board approval of the grants procurement policy. Yes Vote: 4 No Votes: 0 Abstain: 0 Not Voting: 1 Result: PASS Member Voting Vacant --- Gau, Duane YES Hartinger, Jasper YES Jelmeland, Dave YES Weiland, Jamie YES Jenna Trittin updated @ 5/31/2022 10:53 AM Page 2 Mtg_ FC_220516_Minutes P:\GOVERN\COMMITTEES\Finance\2022\220516\Mtg_FIN_220516_Minutes.docx  9. Discussion and possible recommendation on ARPA funds Trautman and Donner gave an overview of the proposed 5-year Capital Improvement Financing Plan prepared by Ehlers earlier this year. Trautman also gave an overview of the estimated savings for 3 scenarios if capital items were cash financed instead of borrowed for. The Committee discussed the ARPA funds. Gau stated he would like to see a list of staff identified projects that could utilize ARPA funds. Gau also stated he would like to see the 3 scenarios presented with a column showing the total adjusted tax rate for each year. Trautman stated the information from Ehlers was calculated earlier this year and interest rates have increased since then. Gau asked for an updated estimate based on current interest rates. The Committee also discussed how EMPD and SAFER were planning to spend their allocation of ARPA funds. Trautman stated spending was delayed due to waiting on approval of the procurement policy. This item will be brought back for further discussion. RESOLUTIONS/ORDINANCES. None. FUTURE ITEMS. 10. Next Finance meeting date(s): − Mon, Jun 20, 2022 @ 4:30 p.m. 11. Topics for future meetings. − Vendor addition procedure/checklist − Direct payments − Policy Reviews 12. Remarks from staff. Trautman stated she will follow up regarding the next meeting and is hoping to have a new staff member on board by then. 13. Remarks from Committee Members. None. 14. Announcements. None. ADJOURNMENT OF FINANCE COMMITTEE Motion by Gau, second by Jelmeland, to adjourn the Finance Committee meeting at 5:55 p.m. Yes Vote: 4 No Votes: 0 Abstain: 0 Not Voting: 1 Result: PASS Member Voting Vacant --- Gau, Duane YES Hartinger, Jasper YES Jelmeland, Dave YES Weiland, Jamie YES The next meeting will be held Monday, June 20. Jenna Trittin, Recording Secretary Jenna Trittin updated @ 5/31/2022 10:53 AM Page 3 Mtg_ FC_220516_Minutes P:\GOVERN\COMMITTEES\Finance\2022\220516\Mtg_FIN_220516_Minutes.docx