DATE: April 8, 2009
Members present: Steve Bach, Tommy Lee Bychinski, Joan Fordham, Marty Krueger, William F. Wenzel
Others present: Kerry Beghin, Kathy Schauf, Jessica Fry, Michael Hafemann, Elizabeth Geoghegan, Brad Viegut, Joe Van Berkel, Alene Kleczek, media
The meeting was called to order by Chairperson Bychinski at 8:30 AM. Certification of open meeting compliance was given. Motion by Bach, second by Fordham to adopt the agenda, with adjustments to the order of appearance. Motion carried. Motion by Wenzel, second by Fordham to adopt the minutes of the previous meetings March 12 and 17, 2009. Motion carried.
Public Comment: None
Communications: None
Presentation of jail state prisoners report.
Fry and Hafemann reviewed the distributed 2008 and March 2009 reports. It was reemphasized that this is a report of Department of Corrections inmates, not the physical space of Unit A. Based on this, 2008 has ended favorably to the budget by $256,365, so a total favorable impact of $590,795 including the budgeted reduction of tax levy. A contract is signed for 2009 for up to 130 inmates at the same rate as 2008. Motion by Fordham, second by Wenzel for the Finance Committee to present the 2008 report to the County Board in April, in anticipation of the required Unit A County Board discussion in June. Motion carried.
Review of refinancing of long-term debt and debt market update.
Brad Viegut from Robert W. Baird discussed historical and current market conditions, and the impact on municipal debt interest rates. Overall, municipal rates are expected to remain fairly stable in the short term, with larger increases for longer terms. Expectations are for an increase in inflation over the upcoming months, with increases in interest rates to follow. It was the consensus of the Committee to reconsider options in May, and to continually monitor rates.
Update on possible 2009 budget overrun for County Farm.
Joe Van Berkel discussed the desire to bring soil nutrient levels at the farm back to standards. Costs would be in excess of budget by about $22,000 for lime and fertilizer.
Discussion of funding options for Drainage District.
The Drainage Board is considering the possibility of a loan from Sauk County to the Drainage Board. A dollar amount is uncertain at this time. It would be repaid through its assessment powers, if a district is actually formed. There are still questions about a loan for costs incurred prior to formation of the Board and/or District. The Committee discussed these matters, as well as the ability and likelihood of repayment, and the differentiation between a loan and grant. No action taken.
Update on flood finances.
Beghin reviewed flood finances. Flood expenses have been few lately. Revenues still coming in, just over $500,000 received from FEMA to date.
Discussion and possible resolution Designating Unreserved Funds as of December 31, 2008.
Motion by Fordham, second by Bach to approve a resolution designating unreserved funds for projects continuing from 2008 into 2009. Motion carried.
Consideration of agreement between Sauk County and the South Central Library System.
Motion by Fordham, second by Wenzel to authorize Marty Krueger to sign this agreement on behalf of Sauk County. Motion carried.
Presentation of County financial report.
Detail of sales tax from the prior five years was distributed. Implications of delinquent property tax payments were discussed. Motion by Krueger, second by Bach to receive the financial reports. Motion carried.
Discussion and consideration of process for County Board mission, vision and goals as a component of strategic planning; Sauk County strategic issues.
The Committee discussed the format for compiling these issues for the County Board's mid-term assessment. Issues related to Accounting and Treasurer are postponed until a Finance meeting on April 21.
Possible closed session pursuant to Wisc. Stats. 19.85 (1) (c) Considering employment, promotion, compensation or performance evaluation data of any public employee over which the governmental body has jurisdiction or exercises responsibility. Performance evaluation of Controller.
Motion by Bach, second by Wenzel to enter closed session. Krueger-Aye, Fordham-Aye, Bychinski-Aye, Wenzel-Aye, Bach-Aye. Motion carried.
Reconvene in open session.
Motion by Fordham, second by Wenzel, to reconvene in open session. Krueger-Aye, Fordham-Aye, Bychinski-Aye, Wenzel-Aye, Bach-Aye. Motion carried.
Treasurer's Department Update.
Geoghegan updated the Committee on recent Treasurer Department activity. E-mail auction for CD's/CDARS was discussed. Motion by Krueger, second by Bach to receive the Treasurer's report and approve payment of the invoices from the Treasurer's department in the amount of $915,854.10. Motion carried.
Accounting Department Update:
Beghin pointed out the highlights of the Accounting Department's recent activity. Motion by Krueger, second by Fordham to receive the Accounting report and approve payment of the Accounting invoices in the amount of $1,782.69 and County invoices in the amount of $5,368,384.86. Motion carried.
Next Meetings.
Discussion of strategic issues is set for April 21, 2009 at 5:00 pm. Intergovernmental meeting is set for April 23, 2009 at 6:00 pm. The next regular Finance meeting is tentatively set for May 12, 2009 at 8:30 am.
Motion by Krueger, second by Fordham to adjourn the meeting. Motion carried.
Respectfully submitted,
Steven Bach, Finance Committee Secretary