Finance Committee

11/04/10 Minutes (62 KB)

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

Others present: Kerry Beghin, Stephanie Box, Penny Clary, Jessica Fry, Elizabeth Geoghegan, Kim Gochanour, Lynn Horkan, Marty Krueger, and Kathy Schauf

The meeting was called to order by Chairperson Bychinski at 8:30 AM. Certification of open meeting compliance was given. Motion by Fordham to adopt the agenda, second by Bach. Motion carried. Motion by Lane to adopt the minutes of previous meetings on September 21 with the Personnel Committee, 29, 30, October 1, 12, and 19, 2010, second by Fordham. Motion carried.

Public Comment:

None

Communications:

Opinion from Sauk County Corporation Counsel regarding budget amendments. Liebman reviewed his opinion and discussed the statute and County Board responsibilities.

Presentation of jail state prisoners report.

Fry reviewed the October 2010 DOC Housing report. October amounts are not final due to timing of meeting early in the month. The population and transition of DOC inmates was discussed. Consensus of the Committee was to discontinue the report and monthly appearance at the Finance Committee meeting after Unit A is closed. Fry will work with the Law Enforcement Committee to determine the reporting they need as the operations move forward.

Update on financial performance of the Health Care Center (HCC) as of September 30, 2010.

Gochanour reviewed the September year to date operations statement and accounts receivable. She reviewed the Medicaid and Medicare revenue issues concerning possible retro payment and retro take backs between the two funding sources. Gochanour commented the HCC 82 beds are full today. Anniversary open house is November 14, 2010.

Presentation of quarterly accounts receivable reports as of September 30, 2010.

Committee reviewed and discussed the department accounts receivable accounts.

Consider ordinance Establishing Taxes to be Levied in Sauk County for the Year 2011.

Proposed budget and levy amount were discussed. Discussed a risk reserve for the risk share provision if Dean is the insurance carrier. Consensus of the Committee was to use contingency funds for the risk share if needed and not budget additional levy. Beghin commented that at close of 2011 an accrual would be made if warranted based on anticipated year end claims. Motion by Fordham to approve ordinance Establishing Taxes to be Levied in Sauk County for Year 2011, second by Wenzel. Motion carried. Beghin reviewed the financial policy for Fund Balance/Retained Earnings and Contingent Funds. She has been receiving questions from a few supervisors about budgeted use of fund balance. The importance of encouraging creativity across county departments without punitive action was discussed.

Presentation of County financial reports.

Beghin reviewed the County financial position. Committee commented on favorable Parks and sales tax revenues.

Treasurer’s Department Update

Geoghegan updated the Committee on Treasurer Department activity. Recent bids for local school district tax revenue anticipation notes (TRANs) were not won. Bids were based on current interest rates county is receiving for long term CDARS investments, interest rates are being maximized. Foreclosure issues and property transfers were discussed. Motion by Wenzel to approve payment of Treasurer’s Department invoices in the amount of $4,248.17, second by Lane. Motion carried.

Accounting Department Update.

Beghin highlighted Accounting Department recent activity. There were no current month Accounting invoices. Motion by Lane to approve County invoices in the amount of $3,474,614.30, second by Bach. Motion carried.

Next Meeting

The next regular Finance meeting will be Tuesday, December 14, 2010 at 8:30 am.

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

Respectfully submitted: Joan Fordham, Finance Committee Secretary