Finance Committee

12/13/11 Minutes (80 KB)

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

Others present: Kerry Beghin, Cindy Bodendein, Elizabeth Geoghegan, Lynn Horkan, Jeff Jelinek, Tom Kriegl, Marty Krueger, Kathy Schauf, Tom Scheidegger, Jim Schernecker, Cathy Warwick and media

The meeting was called to order by Chairperson Bychinski at 8:30 AM. Certification of open meeting compliance was given. Motion by Lane to adopt the agenda, second by Wenzel. Motion carried. Motion by Fordham to adopt the minutes of previous meetings on November 8, 10, and 15, 2011, second by Bach. Motion carried.

Public Comment:
None

Communications:
None

Consider approval of travel in excess of 300 miles for Emergency Management staff to attend “Foundations in Emergency Management” training in Emmittsburg, Maryland.
Jelinek commented on training; he will be one of two representatives for the State. The Department of Homeland Security will cover all training and travel costs except salary. Committee requests Jelinek share any information gained through training after he returns. Motion by Bach to approve travel in excess of 300 miles for Emergency Management staff to attend “Foundations in Emergency Management” training in Emmittsburg, Maryland, second by Lane. Motion carried.

Discussion of possible 2011 budget overrun for Home Care Department.
Bodendein and Warwick reviewed estimated year end budget overrun to be between $40,000 and $50,000. They highlighted and discussed multiple reasons program is over budget. Discussed 2012 budget and history of no levy in this program, funding sources and subrogation. Balancing population and funding sources will continue to be a challenge. The Committee expressed concern that they were not notified sooner of the anticipated overrun in accordance with financial policy. Bychinski noted a written report from Public Health Home Care was received by the Finance Committee.

Pre-audit meeting with auditors to address possible areas of concern prior to commencement of 2011 audit fieldwork.
Scheidegger reviewed the purpose of an audit as an independent review of the financial period with focus on controls and processes to determine risk factors. Scheidegger reviewed assessing risk, sampling financial information, and the use of analytical tools to gather evidence. Baker Tilly structures their procedures on areas of greater risk taking into account economic changes and other benchmarks. The Finance Committee can request areas in which the auditors should focus. Scheidegger highlighted a possible GASB requiring forecasting multiple periods. Information systems have become a more significant part of the audit. Internal control of information technology is tested by audit staff specialists.

Consider resolution Approving Commitment and Assignment of Fund Balances to be compliant with Governmental Accounting Standards Board Statement 54 (GASB 54).
Beghin noted the County has been working towards GASB 54 compliance for two years. GASB 54 changes definitions of fund balance and makes the descriptions more comparable and understandable. Beghin reviewed the categories and their descriptions. The proposed resolution specifies the flow of funds, allows the Finance Committee to assign funds in addition to the County Board, and commits the landfill remediation funds. Motion by Lane to approve the resolution Approving Commitment and Assignment of Fund Balances to be compliant with Governmental Accounting Standards Board Statement 54 (GASB 54), second by Wenzel. Motion carried.

Consider amendment to financial policy 5-94 Fund Balance/Retained Earnings and Contingent Funds Policy to be compliant with GASB 54.
Beghin noted the need to update financial policy language to come into compliance with GASB 54. Motion by Lane to amend financial policy 5-94 Fund Balance/Retained Earnings and Contingent Funds Policy to be compliant with GASB 54, second by Fordham. Bach requested the policy also be reviewed for agreement with the Rules of the Board relating to budget amendments. Lane withdrew motion. Beghin will verify language compared to the Rules of the Board and the Committee will consider at the meeting prior to County Board.

Presentation of County financial reports.
County financial information was reviewed and discussed. Sales tax not as robust as wished, but still on track to meet budget. Reviewed contingency fund balance in light of Home Care overrun and other notable lines.

Treasurer’s Department Update.
Geoghegan updated the Committee on Treasurer Department activity. Discussed tax bills and apportionment. Reviewed updated tax delinquency figures and properties. LaValle figures for tax bills should be received by sometime next week. Next Thursday the department will test run tax bills on new system with software provider. Motion by Bach to approve payment of Treasurer’s Department invoices in the amount of $156,334.28, second by Wenzel. Motion carried.

Accounting Department Update.
Beghin highlighted Accounting Department recent activity. Motion by Wenzel to approve payment of Accounting Department invoices inthe amount of $72,496.88 and County invoices in the amount of $3,020,186.14, second by Fordham. Motion carried.

The next regular meeting will be Tuesday, January 10, 2012 at 8:30 a.m.

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

Respectfully submitted,

Joan Fordham
Finance Committee Secretary