Finance Committee

finance_committee_minutes_02-14-17.pdf (139 KB)

FINANCE COMMITTEE MINUTES

Room 213, West Square Building, Baraboo WI                                                              Tuesday, February 14, 2017

Members present:                Tommy Lee Bychinski, Marty Krueger, Eric Peterson and Kristin White Eagle

Excused:                       Mike Flint

Others present:             Kerry Beghin, Liz Geoghegan, Lynn Horkan and Brad Viegut

The meeting was called to order by Bychinski at 8:35 AM.  Certification of open meeting compliance was given. 

Motion by Peterson, second by White Eagle to adopt the agenda.  Motion carried.  Motion by Krueger, second by White Eagle to adopt the minutes of previous meetings on February 10 and 17, 2017.  Motion carried.

Public Comment:   None

Communications:  None

Discussion of possible bond refunding opportunity.

Viegut reviewed the possible advanced refunding analysis.  The Committee discussed long term goals, minimum savings target and a parameter resolution.  Viegut reviewed a possible timeline starting with a parameters resolution at the March Board meeting and then in approximately in 6 weeks a rate could be locked if the parameters are met.  Motion by Krueger, second Peterson to establish a parameters resolution for debt refunding with a minimum savings of 2%.  Motion carried.

Presentation of quarterly accounts receivable reports as of December 31, 2016.

Beghin noted nothing out of the ordinary to report, still a home care report as the program winds down. 

Discussion of possible 2017 budget overrun for Administrative Coordinator.

Beghin noted overage is exclusively related to wages for the Administrative Coordinator position.  There are possible savings if the $30,000 budgeted economic development funds are not spent.

Presentation of ATC Environmental Impact Fee payments.

First draw request for funds from Sauk Prairie Conservation Alliance.

Discussion of budget process.

Departments are working on their annual reports.  The Committee discussed the format for public input.  Krueger noted the Board authorized an ad-hoc committee one to address public input; those appointments will be made at the February meeting. The minimum of County’s public input responsibility is one public hearing before the budget adoption. The mid-term assessment would ideally be held before Memorial Day. 

Presentation of County financial reports.

Beghin reviewed the County financial reports, sales tax and other notable items.  The 2016 numbers are still preliminary. 

Treasurer’s Department Update. 

Geoghegan reviewed the 2016 Annual Report and highlighted departmental activities. Motion by Krueger, second by White Eagle, to accept the annual and monthly reports and approve payment of Treasurer’s Department invoices in the amount of $109,785.36.  Motion carried.   Reviewed the real estate charge backs.  Carry forward request for 2016 to 2017 to help with real estate charge backs.  Going forward municipalities/townships will notify County of possible charge backs.  Motion by Peterson, second by Krueger to approve carry forward in the Treasurer department of $8,868 to offset the charge backs.  Motion carried.

Accounting Department Update. 

Beghin reviewed the 2016 Annual Report and highlighted departmental activities. Motion by Krueger, second by White Eagle to accept the annual and monthly reports and approve payment of Accounting Department invoices in the amount of $1,256,229.00 and County invoices in the amount of $4,311,263.38.  Motion carried.

Public Comment:  None

Next regular Finance Committee meeting will be Tuesday, March 14, 2017, 8:30 AM.

Motion by Peterson, second by White Eagle to adjourn the meeting.  Motion carried.

Respectfully submitted,  

Kristin White Eagle

Finance Committee Secretary