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Oshkosh
MINUTES OF THE LONG RANGE FINANCE COMMITTEE
August 14, 2019
Room 404
The Long Range Finance Committee meeting was held on Wednesday,August 14, 2019, in Room 404,
at Oshkosh City Hall, 215 Church Avenue.
The meeting was called to order by Matt Lauritch at 5:17p.m.
Members Present: Vicky Fitzgerald, Michael Ford, Jake Krause, Matt Lauritch, and Matt Mugerauer
Members Absent: Karen Bowen, Patrick Hackett, Jeff Herzig, and John Lemberger
Staff Present: Russ Van Gompel —Interim Director of Finance
Mark Rohloff—City Manager
Paula Luther—Administrative Assistant-Finance
Citizens Present: None
I. Citizen Input
None
IL Approval of June 5, 2019 Minutes
Motion to approve by Fitzgerald, seconded by Mugerauer. Approved 5-0.
III. Update—Transportation Utility Fee (5:23—5:29)
• The Council vote was 3-4 against the Transportation Utility Fee
• Business Community felt they were left out of the process and that had an impact on
the vote
• ADHOC committee will be created to help find a replacement for special assessments
• Manager Rohloff suggests someone from the LRFC volunteer to be on the ADHOC
committee. Fitzgerald volunteered.
Finance Department
City Hall,215 Church Avenue P.O.Box 1 130 Oshkosh,WI 54903-1 130 920.236.5005 http://www.ci.oshkosh.wi.us
IV. Discussion—Debt Management Policy (5:29— 6:22)
• Director Van Gompel explained the handouts/slides which included: Debt
Projection/Debt Analysis,Actual Debt vs. Debt Limit, Percent of Debt Limit, and he
also introduced the Debt Management Policy that Eau Claire put together.
• Manager Rohloff stated Oshkosh is the second highest in both categories on the
custom comparison. We are making some progress and our last goal has been
exceeded. We need a plan for the next decade.
• Committee members discussed what the main objective is when creating a Debt
Management Policy and whether we have the capacity to take on more debt.
• Each committee member will study the handouts and the information discussed at this
meeting and come back in September with points they think we need to expand on
when creating the City of Oshkosh Debt Management Policy.
• Debt Management Policy is due end of October.
V. Set September meeting date and agenda items
A. Meeting set for September 4, 2019 at 5:15 p.m.
B. Next Agenda
1. Update on GO EDC Revolving Loan Fund and Capital Catalyst Fund—
Jason White &Audra Hoy
2. Debt Management Policy —What points do we need to expand on?
VI. Adjournment
Motion by Mugerauer, seconded by Lauritch. Motion passed unanimously. Meeting
adjournment at 6:29p.m.
Finance Department
City Hall,215 Church Avenue P.O.Box 1 130 Oshkosh,WI 54903-1 130 920.236.5005 http://www.ci.oshkosh.wi.us