Latest Finance
Finance Committee Minutes
Feb 08, 2012
PDF Version: 17864_2012-Feb-08_Finance Committee Minutes.pdf

Finance Committee Minutes
February 8th 2012

The Finance Committee meeting was called to order at 6:30 pm. Committee members in attendance were Dean Van Den Eng, Nadine Walsten and Dorothy Frandy. Also in attendance were Clerk/Treasurer Carol Strause and Emergency Management Director/Utilities Superintendent Leif Spilde.

Motion: Van Den Eng/Frandy to approve minutes of 01/04/2012. Motion carried unanimously with Walsten abstaining.

Leif Spilde distributed Emergency Management Program binders, reviewed its content and updated the committee on the Village’s emergency preparedness. Spilde discussed communications in the event of an emergency and verified that everyone has completed the necessary emergency training. Spilde left at 7:05 pm.

Walsten reviewed information related to a Public Finance Seminar hosted by Ehlers on February 16-17, 2012 which she plans to attend. Topics that will be covered include Debt Issuance, Grant & Funding Source, Tax Increment Districts, Economic Development Financing and Developer Agreements. Walsten will share the information with the committee at the next meeting.

Clerk Strause reported that the refinancing of 2007 BAN was completed on February 1, 2012. Unspent funds were used to pay down the $370,000 balance of the 2007 BAN and $207,500 was refinanced. The Water Revenue Bond refinancing will be finalized by May 1^st.

Clerk Strause updated the committee regarding a request by Eric and Martha Grover to have their seven 4-unit lots in the Village be assessed as Ag use value. The assessor has asked for a bill of sale on the crop before issuing a decision. After the assessor has made a determination, the topic will be revisited.

Clerk Strause summarized the discussion at the previous meeting regarding a Fund Balance Policy and details of reporting under GASB 54 which was passed by the State Legislature and is in effect this year.

There was further discussion regarding starting a WISDOT Service Center at theClerk’s office on Tuesdays from 10am to 4pm. Motion: Walsten/Frandy to table discussion. Motion carried unanimously.

Clerk Strause reported that the Heart of Brooklyn is up to date on their rent. Clerk Strause also stated that an inspector visited the facility and noted some minor violations which the Public Works department promptly corrected.

The committee reviewed a new version of the proposed lease of space at Union Bank & Trust, which the Village attorney negotiated on behalf of the Village. The Village attorney has recommended that the Board approve the lease. This will be taken up by the Board at the next meeting.

Clerk Strause updated the committee on tax collections. In the month of January, the Village collected $657,705, much of which will be forwarded to other governmental agencies that were part of the tax bills. 71.8% of Dane county taxes due and 72.1% of Green taxes due were collected by the end of January. Most of the balances will be collected in July.

The 2011 and 2012 budget worksheets were reviewed.

Financial balance sheets were reviewed.

Attorney fees were reviewed. There were no Engineering fees for the month. Payroll overtime and comp time were reviewed.

The monthly invoice worksheet was reviewed.

Monthly bills were reviewed and will be presented to the Board at the Februarymeeting. The invoice for public works radios totaling $11,525.20 from General Communications needs to be discussed at the Board meeting.

Motion: Van Den Eng/Frandy to adjourn at 9:03 pm. Motion carried unanimously.

Archive

• Feb 08, 2012 Finance Committee Minutes
• Jan 04, 2012 Finance Committee Minutes

View all from: 2012 2011 2010 2009