Finance Committee

05/11/10 Minutes (72 KB)

Members present: Steve Bach, Tommy Lee Bychinski, Joan Fordham, Jason Lane, William F. Wenzel
Others present: Kerry Beghin, Penny Clary, Jessica Fry, Elizabeth Geoghegan, Kim Gochanour, Marty Krueger, Terri Radke,
Brian Ruechel, Kathy Schauf, Brad Viegut, media

The meeting was called to order by Bychinski at 8:30 AM. Certification of open meeting compliance was given.

Motion by Fordham to nominate Bychinski as Finance Committee Chair, second by Bach. Motion by Fordham to close nominations and cast a unanimous ballot for Bychinski as Chair, second by Lane. Motion carried.

Motion by Bach to nominate Wenzel as Finance Committee Vice-Chair, second by Lane. Motion by Bach to close nominations and cast a unanimous ballot for Wenzel as Vice Chair, second by Lane. Motion carried.

Motion by Bychinksi to nominate Fordham as Finance Committee Secretary, second by Wenzel. Motion by Bach to close nominations and cast a unanimous ballot for Fordham as Secretary, second by Lane. Motion carried.

Motion by Fordham to adopt the agenda, second by Bach. Motion carried. Motion by Bach to adopt the minutes of previous meetings April 13 and 20, 2010, second by Fordham. Motion carried.

Public Comment: None

Communications: None

Presentation of jail state prisoners report
Fry updated the Committee and discussed the April reports. Fry noted State the increasing numbers of extended supervision inmates can be in Huber. The County per diem is less but the inmate also pays a per diem to the County. Fry discussed medical billing for inmates. The State is using Sauk County as a regional facility. Time spent administering the project was discussed.

Update on financial performance of the Health Care Center (HCC) as of March 31, 2010.
Gochanour reviewed the Health Care Center operation statement as of March 2010. Recent Medicaid review and new facility capital reimbursement will increase the rate for the HCC. The trend for accounts receivable continues to favorably decrease. They are focusing on Medicare C replacement collections. Self pay and insurance will always be behind due to having to bill Medicare first before other funding sources can be billed. Bach confirmed the Trustees are looking closely at accounts receivable and will establish a policy for write offs and adjustments. Gochanour discussed write off versus adjustments; actual write offs are 1-2% in the big picture. Private room rate and guest meal charges will be reviewed. The HCC at capacity. The auction is May 13 at the old HCC.

Presentation of quarterly accounts receivable reports as of March 31, 2010.
The various accounts receivable reports were discussed. Radke noted the guardian ad litem collections are coming along well. They are current with billing. Radke noted the economy has caused collections to decrease; however, interest is being collected at 12% through the collection agency.

Discussion of Health Care Center $5 million bond anticipation note refunding.
Viegut noted the County Moody’s rating was upgraded from Aa3 to Aa2 with the recent recalibration of the government rating scale to be more comparable to publicly traded ratings. Viegut reviewed HCC financing goals and history. He then discussed the current action, timeline for the final bond issue, and various financing scenarios. The Committee reviewed the approximate $150,000 remaining from the HCC project and use of remaining funds. Motion by Bach to move forward to issue the bonds and apply $75,000 remaining funds to the debt, second by Fordham. Motion carried.

Discussion and possible resolution Authorizing Adjustments to the 2009 Budget.
Beghin reviewed the resolution and the County’s financial position. General fund balance is expected to increase by approximately $1 million. Motion by Bach to approve resolution authorizing adjustment to the 2009 Budget, second by Wenzel. Motion carried.

Consider update to financial policy 4-94, Purchasing Policy.
Beghin reviewed the proposed changes to the policy allowing department managers to approve purchases and contracts up to $5,000. Motion by Fordham to approve the update to financial policy 4-94, Purchasing Policy, second by Lane. Motion carried.

Consider resolution Amending the Budget to Accept and Disburse CDBG-EAP Supplemental Award.
Schauf stated official communication of the award has not been received, postpone acting until receive word from the State.

Presentation of County financial report.
Beghin indicated that the 2009 numbers are very close to final. Auditors are still reviewing files; all known entries have been made. Beghin reviewed 2010 sales tax which has shown an increase compared to last year. Beghin indicated that this financial report will go to the County Board.

Treasurer’s Department Update
Geoghegan updated the Committee on Treasurer Department activity. The Committee discussed flood condemned properties in effected municipalities. Motion by Bach to approve payment of Treasurer’s Department invoices in the amount of $2,400.88, second by Fordham. Motion carried. Geoghegan inquired about using an outside firm to increase investment income. Geoghegan will gather information for next month’s meeting of other counties’ experience.

Accounting Department Update.
Beghin noted the Wisconsin Counties Association conference overlaps with Committee meetings on the budget calendar in September. Committee agreed to change the Finance Committee review to Sept 29, 30 and Oct 1. Beghin highlighted Accounting Department recent activity. Audit went very well for departments. The online budget survey is on the website. Motion by Fordham to approve payment of Accounting Department invoices in the amount of $23,456.30 and County invoices in the amount of $2,405,213.93, second by Lane. Motion carried.

Next Meeting
The next regular Finance meeting will be Tuesday, June 8, 2010 at 8:30 am.

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

Respectfully submitted,

Joan Fordham
Finance Committee Secretary