Finance Committee

finance_committee_minutes_05-08-15.pdf (12 KB)

Members present:             Tommy Lee Bychinski, Wally Czuprynko, Joan Fordham, Andrea Lombard and Marty Krueger

Others present:           Kerry Beghin, Amanda Blomberg, Liz Geoghegan, Laurie Hasenbalg, Kathy Schauf

The meeting was called to order by Chairperson Bychinski at 12:00 PM.  Certification of open meeting compliance was given.

Motion by Lombard, second by Czuprynko to adopt the agenda.  Motion carried.  Motion by Czuprynko, second by Fordham to adopt the minutes of previous meetings on April 14 and 21, 2015.  Motion carried.

Public Comment:  None

Communications:  None

Preliminary update from auditors on 2014 audit results.

Blomberg reviewed the recent field work for 2014 audit.  Condition of records was very good with no specific concerns to share, and no material entries are expected at this time.  Expecting internal controls to look similar as previous years.  New standard to affect Sauk County for 2015 is reporting of pension unfunded liabilities. The Wisconsin Retirement System has represented that it will be fully or nearly fully funded.

Presentation of quarterly accounts receivable reports as of March 31, 2015.

Quarterly reports for reviewed with no exceptions noted.

Consideration of Resolution Authorizing Adjustments to the 2014 Budget.

Beghin reviewed the resolution of departments exceeding their 2014 budgets, the implications of the class and comp implementation, and short falls in revenue causing the bottom line to be over budget.  Finance Committee noted the need to hear from departments as soon as they are aware of a potential to be over budget.  Motion by Lombard, second by Czuprynko to forward this resolution to the County Board.  Motion carried.

Discussion of 2016 budget and process review, planning assumptions.

Schauf reviewed the 2016 budget planning assumptions.  Discussed the implication on the levy of levy limits and County Board expectations.  Reconcile midterm assessment with cutting the levy.  The Committee re-emphasized the need for department managers and oversight committees to review mandates, the programs offered, and the level to which programs are provided.

Presentation of County financial reports.

Beghin reviewed notable items and trends.  2014 final has no surprises.  2015 through March is looking good.  Sales tax is very strong in current year.

Treasurer’s Department Update.

Geoghegan reviewed departmental activities.  Motion by Krueger, second by Czuprynko to accept the Treasurer’s monthly report and approve payment of Treasurer’s Department invoices in the amount of $164,670.51.  Motion carried.

Accounting Department Update.

Beghin highlighted departmental activities.  Motion by Czuprynko, second by Krueger to accept the monthly report and approve payment of Accounting Department invoices in the amount of $49,590.00 and County invoices in the amount of $3,140,665.91.  Motion carried.

Public Comment:  None

Next regular Finance Committee meeting will be Tuesday, June 9, 2015, 8:30 AM.

Motion by Lombard, second by Czuprynko to adjourn the meeting.  Motion carried.

Respectfully submitted,

Andrea Lombard

Finance Committee Secretary