HomeMy WebLinkAbout08.03.2022 LRFC Meeting Minutes
Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
MINUTES OF THE LONG RANGE FINANCE COMMITTEE
August 3rd, 2022
The Long Range Finance Committee meeting was held on Wednesday, August 3rd, 2022, at 5:15pm in
Room 404 at City Hall.
The meeting was called to order by Matt Mugerauer at 5:17pm.
Members Present: Karen Bowen, Koby Schellenger, John Zarbano, Joe Stephenson, Adam
BellCorelli, Todd Hutchison, Matt Mugerauer
Members Absent: Austin Philips, Andrew Kramp
Staff Present: Russ Van Gompel – Director of Finance
Crystal Wagner – Management Analyst – Budget, Finance
Also Present: Mike Ford – Council Member
I. Citizen Input
• Introduction of new member, Joe Stephenson.
• Announcement of Stuart Kuzik’s resignation.
II. Approval of June 1st, 2022 Minutes
• Motion to approve by BellCorelli, seconded by Schellenger. Approved unanimously.
III. Select Chair and Vice-Chair
• Motion to accept current Chair, Matt Mugerauer, as Chair by Bowen. Approved
unanimously.
• Nomination of Schellenger for Vice-Chair by BellCorelli. Approved unanimously.
IV. Continued Discussion on Debt; Recommendation for Council
• Members discussed debt policy in relation to past economic conditions, our debt rating,
and Council’s goals with debt policy.
Finance Department
City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us
• Motion by Mugerauer, seconded by Zarbano, to recommend change to debt policy to
state an internal goal of remaining below 60% of the maximum of the state limit, striving
to reach a goal of 40% state limit. Approved unanimously.
• Motion by Mugerauer, seconded by Schellenger, approved unanimously to make the
following recommendation to Council:
o To address the identified facility needs of the city of Oshkosh that total more than
$60 million, the Long Range Finance Committee recommends framework for the
issuance of new debt in the next 10 years, as economic conditions support the
issuance.
• Invitation from Council via Mugerauer to the August 30th, 2022 Budget Workshop at
5:00pm. This will be regarded as next month’s meeting.
V. Set next meeting date and agenda items
• Meeting set for October 5th, 2022 at 5:15pm.
• Next agenda:
o Chair and Finance Director will determine the agenda prior to the next meeting.
VI. Adjournment
• Motion by BellCorelli, seconded by Stephenson. Approved unanimously. Meeting
adjournment at 6:27pm.