Minutes: Finance; September 6, 2012

City of Evansville Finance & Labor Relations Committee Regular Meeting Thursday, September 6, 2012, 5:30 pm City Hall, 31 S. Madison St., Evansville, Wisconsin MINUTES I. Call to Order. The meeting was called to order at 5:45 pm by Chair Mason Braunschweig. Present: Alderpersons Mason Braunschweig, Jim Brooks, and Josh Manring. Also present: Mayor Sandy Decker, Finance Director Lisa Novinska, and City Administrator Dan Wietecha. II. Approve Agenda. Brooks made a motion, seconded by Manring, to approve the agenda as presented. Motion approved unanimously. III. Minutes of August 9, and August 13, 2012. Manring made a motion, seconded by Brooks, to waive the reading of and to approve the minutes as presented. Motion approved unanimously. IV. Citizen Appearances. Decker reported the Fire District wants to purchase a new pumper truck for about $600,000. FLR noted the Fire District should have someone attend the preliminary budget meeting on September 26. V. Bills. Brooks made a motion, seconded by Manring, to accept the City and Water & Light bills in the amount of $1,089,838.22. FLR had questions about police maintenance, youth center appliances, and library unemployment. Motion approved unanimously on a roll call vote. VI. Unfinished Business. a. Personnel Policy. No report. b. Fiscal Policies. FLR noted that the policies were to formalize and update existing practices in anticipation of a future bond rating. i. Fund Balance. Brooks made a motion, seconded by Manring, to recommend to Common Council adoption of Fund Balance Policy. FLR noted this is an update, particularly to reflect cash flow requirements of the enterprise funds. Motion approved unanimously. ii. Tax-Exempt Obligations. Brooks made a motion, seconded by Manring, to recommend to Common Council adoption of Post-Issuance Compliance Policy for Tax-Exempt and Tax-Advantaged Obligations. Wietecha explained that the city has always been responsible for monitoring and complying with these federal tax requirements; however, a written policy emphasizes the city’s diligence to the matter. Motion approved unanimously. iii. Investments. Brooks made a motion, seconded by Manring, to recommend to Common Council adoption of Investment Policy. FLR noted this formalizes the city’s existing investment practices and requested investment reports be made quarterly. Motion approved unanimously. iv. Debt Management. Manring made a motion, seconded by Brooks, to recommend to Common Council adoption of Debt Management Policy. Wietecha explained this would formalize the city’s practice of limiting general obligation debt to 50% of the legal debt capacity as well as additional measures based on comparisons with peer communities. Motion approved unanimously. c. Administration Office. FLR discussed the present duties of the Administrator and Finance Director positions, their combination into a single position, duties which would be delegated to staff, and staff’s ability and capacity to handle delegated duties. FLR discussed the duties of a Community Development Director. FLR recommended that the proposals be presented to the Common Council for additional consideration. VII. New Business: a. Authorized Signatures. Wietecha noted that a resolution to update authorized signatures is being reviewed with Union Bank & Trust. b. Finance Director. FLR thanked Novinska for the help she has provided for this and other committees, in particular her patient explanations of complicated and detailed information. VIII. Adjournment. Brooks made a motion, seconded by Manring, to adjourn the meeting. Motion approved unanimously at 7:45 pm.