Finance Committee

Finance Committee Minutes 05-08-17 (137 KB)

FINANCE COMMITTEE MINUTES

Room 213, West Square Building, Baraboo WI                                                              Monday, May 8, 2017

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

Excused:                       Mike Flint and Kristen White Eagle

Others present:             Kerry Beghin, Amanda Blomberg, Alene Bolin, Liz Geoghegan, Lynn Horkan, Tom Kriegl, and media

The meeting was called to order by Bychinski at 8:00 AM.  Certification of open meeting compliance was given.  Motion by Krueger, second by Peterson to adopt the agenda.  Motion carried.  Motion by Krueger, second by Peterson to adopt the minutes of previous meetings on April 11 and 18, 2017.  Motion carried.

Public Comment:   None

Communications:  None

Preliminary update from auditors on 2016 audit results.

Blomberg commented field work is complete and gave a brief synopsis of results.  There are no material journal entries or concerns, and an unmodified opinion is likely to be issued.  General fund balance is growing and gives flexibility to do projects without borrowing.  Pension liability standard enacted for 2015 created a net pension asset; in 2016 it is a slight liability do to the decrease in valuation.  The grant compliance single audit will be in the late summer.

Presentation of quarterly accounts receivable reports as of March 31, 2017.

Only of particular note, the HCC has a larger receivable due to a longer payment period. 

Presentation of ATC Environmental Impact Fee payments.

Bolin noted requested dollars are being used for their intended purpose.

Discussion of budget process, public input adhoc committee update.

Departments are taking this time for big picture and informing committees.  Bolin commented on the ad hoc committee and public meetings, with focus on public feedback and not county board member discussion.  Beghin reviewed a draft policy creating a framework to evaluate outside agency requests.

Presentation of County financial reports.

Beghin reviewed the County financial reports first quarter 2017, sales tax and other notable items.  Grants and aids appear low, but this is normal as most funding that comes in the first.  Motion by Krueger, second by Peterson to accept the report and forward to the County Board.  Motion carried.

Discussion and possible resolution Authorizing Adjustments to the 2016 Budget.

Beghin explained the resolution highlights departments exceeding expenditure budgets but have offsetting revenues or fund balance exist, and departments exceeding overall budgets.  She also noted the armored vehicle purchase did not happen until 2017, so previously approved contingency use can be returned to the contingency fund.  Motion by Peterson, second by Krueger to Authorize Adjustments to the 2016 Budget.  Motion carried.

Treasurer’s Department Update. 

Geoghegan highlighted the departmental activities, including assessment roll processing.  She reviewed the staff changes in the department due to a retirement.  Motion by Krueger, second by Peterson to accept the monthly report and approve payment of Treasurer’s Department invoices in the amount of $172,196.36.  Motion carried.

Accounting Department Update. 

Beghin highlighted departmental activities. Beghin noted bond closing on April 20 which will gain the County more savings in the future.  Exploring transferring financial system to be accessed via the cloud.  Motion by Peterson, second by Krueger to accept the monthly report and approve payment of Accounting Department invoices in the amount of $56,246.00 and County invoices in the amount of $2,522,158.76.  Motion carried.

Public Comment:  None

Joint meeting with the Personnel Committee will be Friday, May 12, 2017, 8:30 AM.

Next regular Finance Committee meeting will be Tuesday, June 13 2017, 8:00 AM.

Motion by Krueger, second by Peterson to adjourn the meeting.  Motion carried.

Respectfully submitted,  

Tommy Lee Bychinski, Finance Committee Chair