HomeMy WebLinkAbout11-13-2019 LRFC Meeting Minutes Oshkosh
MINUTES OF THE LONG RANGE FINANCE COMMITTEE
November 13, 2019
Room 404
The Long Range Finance Committee meeting was held on Wednesday, November 13, 2019, in Room
404, at Oshkosh City Hall, 215 Church Avenue.
The meeting was called to order by Matt Lauritch at 5:15 p.m.
Members Present: Karen Bowen, Vicky Fitzgerald, Michael Ford, Matt Lauritch, Matt Mugerauer,
and Koby Schellenger
Members Absent: Jake Krause
Staff Present: Russ Van Gompel—Director of Finance
Allen Davis —Director of Community Development
Paula Luther—Administrative Assistant- Finance
Citizens Present: Audra Hoy—Greater Oshkosh Economic Development Corporation (EDC)
Jason White—Greater Oshkosh Economic Development Corporation (EDC)
I. Citizen Input
None
II. Election of Chairperson and Vice Chairperson
A. Chairperson: Fitzgerald nominated Lauritch for Chairperson. There were no other
nominations. Nominations closed and by a unanimous vote of 5-0, Matt Lauritch was elected
as the Chairperson of the Long Range Finance Committee.
B. Vice-Chair: Bowen Nominates Mugerauer for Vice-Chair. There were no other
nominations. Nominations closed and by a unanimous vote of 5-0, Matt Mugerauer was
elected as the Vice Chair of the Long Range Finance Committee.
III. Approval of September 4, 2019 Minutes
Motion to approve by Ford, seconded by Mugerauer. Approved 6-0.
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. Update—GO EDC Revolving Loan Fund and Capital Catalyst Fund -Audra Hoy &
Jason White (5:20—5:43)
• All loans are current
• All Reporting to the City of Oshkosh and the Wisconsin Economic Development
Corporation are current
• Funding Partnerships are strong
• Next step —Additional Fund development(research,partners, filling gaps)
V. Follow-up—Debt Management Policy (5:43 —5:58)
• Committee discussed and then changed page 4 of 6, item B1 from 25%to 33%
• Director Van Gompel explained why the 2020 Operating Revenue increased 2x
• Mugerauer motioned to bring the Debt Management Policy to Council for
approval. Fitzgerald seconded. Motion passed 6-0.
VI. Review Prioritized Topics List(5:58 —6:09)
• Committee members will take the list home and bring back their individual
suggestions for the 2020 Prioritized list
VH. Set next meeting date and agenda items
A. Meeting set for December 4, 2019 at 5:15 p.m.
B. Next Agenda
1. Follow-up—GO EDC Revolving Loan Fund and Capital Catalyst Fund
2. Review Prioritized Topics List
VIII. Adjournment
Motion by Mugerauer, seconded by Bowen. Motion passed unanimously. Meeting
adjournment at 6:10 p.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