HomeMy WebLinkAboutMeeting Minutes 08-05-2020 Oshkosh
MINUTES OF THE LONG RANGE FINANCE COMMITTEE
August 5, 2020
Room 404
The Long Range Finance Committee meeting was held on Wednesday, August 5, 2020, in Room 404, at
Oshkosh City Hall, 215 Church Avenue.
The meeting was called to order by Matt Lauritch at 5:20 p.m.
Members Present: Adam BellCorelli, Karen Bowen, Matt Lauritch, Matt Mugerauer and via WebEx
Michael Ford, Koby Schellenger, and Vicky Fitzgerald
Members Absent: Allison Knautz
Staff Present: Russ Van Gompel—Director of Finance
Paula Luther—Administrative Assistant- Finance
I. Citizen Input
None
II. Approval of July 1, 2020 Minutes
Motion to approve by BellCorelli, seconded by Bowen. Approved 6, Present 1.
III. Evaluate General Fund Policy(5:22—5:51)
• Director Van Gompel explained the handouts and went through the Draft Policy in more
detail.
• Lauritch commented that aside from the content being on point, the format is a great
template for additional policies LRFC will be reviewing in the future. Everyone agreed.
• BellCorelli asked what is different in this Draft Proposal from what is in place right now.
It was noted that this revised policy is not a redline version because it is presented in a
different format. Director Van Gompel said in the revised policy there is a maximum
amount and the revised policy also notes the balance requirements of the other funds.
• After more discussion, Director Van Gompel asked for a recommendation to City
Council. Mugerauer moved to make recommendation to Council, Lauritch seconded.
Approved 7-0.
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. Creation of a Fund Balance Policy for Other Funds/Health/Worker's Compensation/
Others (5:52—5:54)
• This Agenda item is included in the Draft Proposal of the General Fund Policy
• Ford asked if a separate policy is needed. Director Van Gompel said Levy Supported
Funds may need a separate policy. He will put something together for the next meeting
and present it to the LRFC to see if they would like to do something different.
V. Set next meeting date and agenda items
A. Meeting set for September 2, 2020 at 5:15 p.m.
B. Next Agenda
1. Discuss additional Fund Balance Policy's
2. Investment Policy
VI. Adjournment
Motion by Mugerauer, seconded by Lauritch. Motion passed unanimously. Meeting
adjournment at 5:59 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