Finance Commitee

08/14/12 Minutes (63 KB)

Members present: Tommy Lee Bychinski, Joan Fordham, Jason Lane, Andrea Lombard and William F. Wenzel

Others present: John Dietz, Elizabeth Geoghegan, Lynn Horkan, Tom Kriegl, Kathy Schauf and William Wasser

The meeting was called to order by Chairperson Bychinski at 8:30 AM. Certification of open meeting compliance was given. Motion by Wenzel, second by Fordham to approve the agenda. Motion carried. Motion by Lane, second by Fordham to approve the minutes of July 13. Motion carried.

Public Comment:
William Wasser commented on the budget process.

Communications:
None

Presentation of quarterly accounts receivable reports as of June 30, 2012.
Committee reviewed and commented on reports.

Update on 2013 budget and process.
Tentative equalized values came out showing a decrease and net new construction a very small increase. Final numbers will be released tomorrow. Health insurance for employees still not determined, departments currently directed to build 15% in budget. Hope to be able to reduce when more is known. Budget also includes highest rates for retirement; adjustments will be made when rates are finalized by the State. Schauf noted the County received the Government Finance Officers Association (GFOA) Distinguished Budget Award for the 2012 budget. Dietz and Kriegl commented on budget process. Schauf commented the policies and priorities from the Finance Committee. Committees must have the tough discussions due to the levy limit environment. Schauf commented budget dialogue needs to be ongoing at the committee level, as budget comes together committees will need to reexamine. Use of tax levy needs to be looked at and discussed at multiple levels.

Presentation of County financial reports.
County financial information was reviewed and discussed. Majority of categories are in the range we would expect at mid-year. Revenues are in good shape considering timing of grant payments. Tax collections are very strong even considering the current economy. Sales tax is holding its own but not as strong as hoped. Expenditures are also in the expected range. Beghin reviewed selected line items. Next month will likely hear from Register in Probate about 2012 budget overrun. Beghin noted analysis of specific line items is important, but review of the budget taken as a whole is more important. If departments are held accountable for each line item they will build in cushion; they need to be able to work within their budget. Many times when line items are under spent, this is due to knowledge of budget issues in other areas.

Treasurer’s Department Update.
Geoghegan highlighted departmental activities. Geoghegan reviewed status of tax deeded properties. Tax collections have been good. Motion by Fordham, second by Lombard to approve payment of Treasurer’s Department invoices in the amount of $37,399,455.74. Motion carried.

Accounting Department Update.
Fordham noted significant achievements for the GFOA budget award and audit preparation. Department activities were noted in the report. Financial audit is complete, single audit is next week. Discussed status of open records request from Gannett Wisconsin Media. Motion by Wenzel, second by Lombard to approve payment of Accounting Department invoices in the amount of $312,637.30 and County invoices in the amount of $40,559,579.62. Motion carried.

The next regular meeting is set for September 11, 2012.

Motion by Lane, second by Fordham to adjourn the meeting. Motion carried.

Respectfully submitted,

Joan Fordham
Finance Committee Secretary