Finance Committee

08/09/11 Minutes (64 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, Tom Kriegl, Marty Krueger, Peter Murray, Kathy Schauf, Tom Scheidegger, Jim Schernecker, and Cathy Warwick

The meeting was called to order by Chairperson Bychinski at 8:30 AM. Certification of open meeting compliance was given. Motion by Bach to adopt the agenda, second by Lane. Motion carried. Motion by Fordham to adopt the minutes of previous meetings on July 12 and 19, 2011, second by Wenzel. Motion carried.

Public Comment:
None.

Communications:
None.

Presentation and review of 2010 audited financial statements, management letter, and report on federal and state awards.
Tom Scheidegger, Partner with Baker Tilly, highlighted the purpose and process of an audit. He reviewed a summarized version of the financial statements, discussed their purpose and components, and noted a healthy General Fund balance. He encouraged reading the Management Discussion and Analysis of the financial statements. Scheidegger commented on the report on internal controls. Based on their reviews, County procedures are reliable and no new findings are reported. Scheidegger complimented the Accounting Department for their work with Baker Tilly.

Presentation of quarterly accounts receivable reports as of June 30, 2011.
Reports were reviewed and discussed by Committee. The timing issue of Health Care Center receivables was discussed. Highway receivable greater than 90 days was noted.

Presentation of County financial reports.
Beghin reviewed the County financial position. May sales tax paid in July is down compared to the prior year. Notable items include interest collected on delinquent taxes; amount has been ahead of expectations each month. Wenzel questioned if a demographic area was more systemic than another in delinquency. Housing inmates from other jurisdictions rental income for the jail continues to be down. The Committee requested updated reports from all departments previously estimating an overage. Beghin commented that 2012 budget process will give us the 2011 estimated updates very soon. The change to retirement contribution and other factors will help those departments. Beghin commented on the revenues and timing of grants still to come in. Continue to work with departments on position vacancies and their operations to gain savings.

Update on 2012 budget process.
Capital Improvement Project team meets Friday, August 12, 2011. Budgets were due to Accounting on Friday, August 5, 2011, some are still being worked on. Recent Wisconsin Retirement System (WRS) direction will impact the 2012 budget. Schauf commented the long term issue will be budgeting into the future when there is not room allowed for growth. Opportunities to participate in the budget process were discussed, such as the mid-term assessment, poorly attended night committee meetings to discuss priorities, on-line budget survey, and upcoming Finance budget reviews. The Committee discussed responsibility of the Board to set policy direction, while the professionals and management carry out the policy through programs and operations. The Committee discussed evening meetings for the budget review with the Finance Committee.

Treasurer’s Department Update.
Geoghegan updated the Committee on Treasurer Department activity. Tax delinquency rates are similar to prior years. The status of delinquent properties was discussed. Contracts are signed for the new tax system and a meeting is set to establish timeline of implementation. Motion by Wenzel to approve payment of Treasurer’s Department invoices in the amount of $812.49, second by Lane. Motion carried.

Accounting Department Update.
Beghin highlighted Accounting Department recent activity. Beghin announced the Government Finance Officers Association awarded Sauk County the Distinguished Budget Presentation Award for 2011 Budget. Fordham requested Bychinski announce award at the next County Board meeting. Current departmental work is mostly in budget process. Motion by Bach to approve payment of Accounting Department invoices in the amount of $44,290.43 and County invoices in the amount of $1,991,626.87, second by Fordham. Motion carried.

The next regular meeting will be Tuesday, September 13, 2011 at 8:30 a.m.

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

Respectfully submitted,

Joan Fordham, Finance Committee Secretary