Finance Committee

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Calendar Date:
Tuesday, December 12, 2017 - 8:00am

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Meeting Information

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  • Minutes
PDF icon 12/12/2017 Finance Agenda (76 KB)

COMMITTEE:   FINANCE COMMITTEE

DATE:                   Tuesday, December 12, 2017

TIME:                   8:00 a.m.

PLACE:                Room 213, West Square Building

                                505 Broadway, Baraboo, WI  53913

 

REASON FOR MEETING:                            REGULAR

 

SUBJECTS FOR DISCUSSION:

  1. Call to Order and Certify Compliance with Open Meeting Law.
  2. Adopt Agenda.
  3. Adopt Minutes of Previous Meetings.
  4. Public Comment.
  5. Communications.
    1. Moody's Annual Comment on Sauk County.
  6. Business Items.
    1. Pre-audit meeting with auditors to address possible areas of concern prior to commencement of 2017 audit fieldwork.
    2. Presentation of ATC Environmental Impact Fee payments.
    3. Discussion of budget process.
    4. Presentation of County financial reports.
  7. Treasurer’s Department Update.
    1. Monthly report.
    2. Review and approval of invoices.
  8. Accounting Department Update.
    1. Monthly report.
    2. Review and approval of invoices:  Accounting Department and the entire County.
  9. Public Comment.
  10. Next Meeting.
  11. Adjournment.

 

COPIES TO:

Bychinski              Flint                        Krueger                  Peterson                 White Eagle          County Clerk

Beghin                   Horkan                  Bolin                      Geoghegan            Hoagland             

 

 

PREPARED BY:                                                                                 Accounting Department

 

PDF icon finance_committee_minutes_12-12-17.pdf (135 KB)

FINANCE COMMITTEE MINUTES

Room 213, West Square Building, Baraboo                                                                    Tuesday, December 12, 2017

 

Members present:                Tommy Lee Bychinski, Mike Flint, Marty Krueger, Kristin White Eagle

                               

Others present:             Kerry Beghin, Alene Bolin, Liz Geoghegan, Justin Hoagland, Lynn Horkan and media

 

The meeting was called to order by Bychinski at 8:00 AM.  Certification of open meeting compliance was given.  Motion by White Eagle, second by Flint to adopt the agenda.  Motion carried.  Motion by Flint, second by White Eagle to adopt the minutes of previous meetings on November 6 and 14, 2017.  Motion carried.

 

Public Comment:  None

Communications:  Moody's Annual Comment on Sauk County

 

Pre-audit meeting with auditors to address possible areas of concern prior to commencement of 2017 audit fieldwork.

Hoagland from Baker Tilly was in attendance for general comments on upcoming 2017 audit; preliminary fieldwork begins this Thursday.  He also reviewed upcoming General Accounting Standard Board changes.  GASB 75 will replace GASB 45 for 2018 Other Postemployment Benefits reporting.  For 2020 GASB standard will include lease reporting on the balance sheet.  He noted for 2018 single audit procurement will change will require formal documentation of procurement policy to assure full and open competition.   He noted Sauk has a written policy that appears to already be in compliance.  There are no changes to the 2017 audit standards. 

 

Presentation of ATC Environmental Impact Fee payments.

Bolin commented on the updates from the participants.  Bolin noted the Baraboo River project is still seeking other grant funding before proceeding, with further update in January. 

 

Discussion of budget process.

Beghin commented now is the opportunity to review the budget process to make changes and evaluate what is good and make improvements.  She noted comments on the outside agency request process and review of statutory authority.  Bolin discussed working closely with departments to fortify performance measures, make sure they still make sense and offer the information needed by the County Board.  The timing of budget process was discussed.

 

Presentation of County financial reports.

Beghin commented on October financials.  Nearing the end of the first phase of the Great Sauk State Trail, the grant reimbursement paperwork has been completed and submitted. 

 

Treasurer’s Department Update. 

Geoghegan highlighted departmental activities.  Motion by Flint, second by White Eagle to accept the monthly report and approve payment of Treasurer’s Department invoices in the amount of $136,901.92.  Motion carried.

 

Accounting Department Update. 

Beghin highlighted departmental activities.  Currently, in beginning discussions of migrating MUNIS to a cloud based system and looking at the needs in a timekeeping system.  Discussed the adoption and change process of the financial policies.  Motion by Flint, second by White Eagle to accept the monthly report and approve payment of Accounting Department invoices in the amount of $2,008.23 and County invoices in the amount of $3,667,815.46.  Motion carried.

 

Public Comment:  None

 

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

 

Respectfully submitted,  

 

 

 

Kristin White Eagle

Finance Committee Secretary