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HomeMy WebLinkAbout8-2-23 Agenda Documents Finance Department City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us LONG RANGE FINANCE COMMITTEE AGENDA (Revised) August 2, 2023 5:15 PM To Whom It May Concern: PLEASE NOTE the City of Oshkosh Long Range Finance Committee will meet on Wednesday, August 2, 2023, at 5:15 pm, in Room 404 at the Oshkosh City Hall, 215 Church Avenue. ROLL CALL I. Citizen Input - (Up to the first 15 minutes of meeting – can be regarding any City Finance topic) II. Approval of June 7, 2023 Minutes III. Special Assessment Rates IV. Direction on Future Policies V. Next Meeting Date & Agenda Items – October 4, 2023 VI. Adjournment If you have any questions, please call the Finance Office at (920) 236-5005 between 8:00 am – 4:30 pm Monday – Friday. 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 FOR THE LONG RANGE FINANCE COMMITTEE June 7, 2023 The Long Range Finance Committee meeting was held on Wednesday, June 7, 2023, at 5:15pm in Room 404 at City Hall. The meeting was called to order by Russ Van Gompel at 5:15pm. Members Present: John Zarbano, Adam BellCorelli, Todd Hutchison, Koby Schellenger Members Absent: Andrew Kramp, Mike Ford Staff Present: Russ Van Gompel – Director of Finance, Hailey Palmquist - Assistant Director of Finance, Denise Edwards – Finance Management Analyst, Kelly Nieforth – Director of Community Development GOEDC Present: Tricia Rathermel – President & CEO, Kathy Griese – Director of Economic Development ROLL CALL I. Citizen Input  None II. Approval of April 5, 2023 Minutes  MOTION TO APPROVE: Adam BellCorelli; 2nd John Zarbano  CARRIED: Approved unanimously, no added comments III. Elect Chair and Vice-Chair  City Council reviewed the committees, decided on 5 Members and up to 2 alternates  Andrew Kramp is an alternate and if you know of someone that wants to be an additional alternate, submit their name to council o MOTION TO NOMINATE MIKE FORD TO CHAIR: Adam BellCorelli; 2nd Jon Zarbano, carried unanimously. o After 3 Calls for other nominations, no other candidates were nominated. Finance Department City Hall, 215 Church Avenue P.O. Box 1130 Oshkosh, WI 54903-1130 920.236.5005 http://www.ci.oshkosh.wi.us o MOTION TO APPOINT MIKE FORD TO CHAIR: Adam BellCorelli; 2nd Jon Zarbano, carried unanimously. o MOTION TO NOMINATE ADAM BELLCORELLI TO VICE CHAIR: Adam BellCorelli; 2nd Jon Zarbano, carried unanimously. o After 3 Calls for other nominations, no other candidates were nominated. o MOTION TO APPOINT ADAM BELLCORELLI TO VICE CHAIR: John Zarbano; 2nd Koby Schellenger o CARRIED: Approved unanimously IV. Update from GOEDC (Greater Oshkosh Economic Development Corporation)  Tricia Rathermel and Kathy Griese, with the help of Kelly Nieforth, presented on the history, purpose and objectives of GOEDC.  They are a funding entity that assists in funding the gaps in finance for community businesses for expansion or relocation in Oshkosh. They are both Public and Private. They receive funds and are still able to be confidential with their clients.  They shared success stories and partner that have come along the way for their efforts.  Greater Oshkosh Revolving Loan Fund: Supports existing businesses of at least 2 years of operation for economic development purposes  Grater Oshkosh Capital Catalyst Fund: Supports entrepreneurship, early growth, and start-up businesses and assists in consulting  Greater Oshkosh Emergency Response Loan Fund: Supports clients in need  Winnebago County Rapid Recovery Loan Fund: Funds are available to help V. Allocation of funds to Capital Catalyst Round 4  GOEDC will cover 60K and the Revolving Loan Fund will cover the other 65k to equal 125k. Consensus Agreed VI. Cash Handling Policy  Transfer of cash handling to the bank from PD confirmed, cash is in a locked bank bag, video cams and logs are kept on transactions  Cashiers are trained on how to detect counterfeit cash  MOTION TO RECOMMEND TO COUNCIL: John Zarbano; 2nd Koby Schellenger VII. Next Meeting Date & Agenda Items  Meeting set for August 2, 2023 at 5:15pm  Next Agenda: o Update on policies o Discuss interest rates on Special Assessments VIII. Adjournment  MOTION TO ADJOURN: John Zarbano; 2nd Koby Schellenger  CARRIED: Approved unanimously  Meeting adjourned at 6:19pm Potential Policy Handbook Created July, 2023 General Operations Policy ………………………………………………………3 - 4 Purchasing Policy (2021)…………………………………………………………5 - 10 City Issued Purchasing Card Policy ……………………………………….…..11 - 13 Capitalized Fixed Assets Policy ………………………………………………..14 - 15 Capital Improvement Plan Process and Policy (2021)……………………….16 - 17 Capital Improvement Budget Policy (2021)…………………………………...18 - 19 Cash Handling (2023) Budget Development Policy (2023) ..………………………………………….20 - 21 Operating Budget Policy ………………………………………………………..22 - 23 Revenue Policy ………………………………………………………………….24 - 25 Fund Balance Policy (2023)…………………………………………………….26 - 27 Gift - Donations Investment Policy (2020)………………………………………………………..28 - 32 Debt Management Policy (2019, 2022)……………………………………….33 - 35 TIF Policy Policy in place Recently reviewed by Long Range Finance CHAPTER 21 PUBLIC CONSTRUCTION AND SERVICES / METHODS OF PAYMENT / SPECIAL CHARGES / SPECIAL ASSESSMENTS The City of Oshkosh finds that it is necessary to protect the health, safety, welfare and property of its residents and business owners through the installation, construction, reconstruction and maintenance of public works and facilities including but not limited to water mains, services, and appurtenances; sanitary sewer mains, services and appurtenances; storm sewers mains, services and appurtenances; public streets and sidewalk; bike and pedestrian ways; landscaping; street lighting and associated amenities. The City of Oshkosh also finds that it is necessary to provide reasonable, equitable and sustainable funding sources for these purposes which may include public financing through bonding or other means, special assessments, special charges and financing through utilities. The City has created and maintains separate utilities for water (Chapter 28 of this Municipal Code), wastewater (Chapter 24 of this Municipal Code), and storm water (Chapter 14 of this Municipal Code). ARTICLE I. SPECIAL CHARGES SECTION 21-1 SPECIAL CHARGES Special Charges may be imposed against real property for current services rendered by allocating all or part of the cost of the service, together with an administrative fee as may be adopted by Resolution of the Council, to the property benefited as provided in Sec. 66.0627 of the Wisconsin Statutes. Where such charge is specifically authorized by a specific provision within this Municipal Code, such provision shall constitute notice of the special charge, except as additional notice may be required by statute or ordinance. ARTICLE II. SPECIAL ASSESSMENTS SECTION 21-2 SPECIAL ASSESSMENTS POLICY The City of Oshkosh “Policy for Special Assessments” as adopted by the Common Council shall be kept on file in the Office of the City Clerk, the Finance Department and in the Office of the City Engineer within the Department of Public Works for the City of Oshkosh. Copies of the Policy shall be available for public inspection during usual business hours. SECTION 21-3 SPECIAL ASSESSMENTS AUTHORIZED (A) In addition to any other methods provided by law, the cost of installing, constructing or maintaining any public improvement or providing any current service may be charged in whole or in part to properties benefitting from the installation, construction or maintenance of the public improvements or current service and special assessments may be levied against the properties benefited in accordance with Subchapter VII of Chapter 66 of the Wisconsin Statutes and the City’s Special Assessment Policy. Any assessments not provided for within the policy or deviations from the provisions of the Special Assessment Policy shall be specifically approved by the Common Council. Upon certification, property owners may pay the assessment in accordance with the following sections. (B) Any special assessment levied under this ordinance shall be a lien against the property assessed from the date of the final resolution determining the amount of the levy. (C) Any person against whose property a special assessment is levied may appeal therefrom in the manner prescribed by Section 66.0703 of the Wisconsin Statutes within ninety (90) days of the date of the final resolution. SECTION 21-4 CERTIFICATION OF FINAL ASSESSMENTS / NOTICE OF ELECTION OF INSTALLMENT PAYMENTS (A) Upon acceptance of the particular public improvement involved, the Board of Public Works shall issue a Certification of Final Levy of Special Assessments similar to the Certificate specified in Section 66.0713 of the Wisconsin Statutes. (B) Upon certification of the project by the Board of Public Works: (1) The City Clerk shall publish as a Class 1 Notice, an Installment Assessment Notice similar to the notice specified in Section 66.0715(3)(e) of the Wisconsin Statutes stating that the City has determined to permit collection of the same in annual installments as specified in this Article and the initial and final resolutions of Council. (2) The Finance Director shall notify all property owners who are eligible to make an election for payment under the provisions of this Article that they shall have thirty (30) days from the date of the notification to select a payment option. (C) The election to utilize an installment plan as provided in Sections 21-6 through 21- 8 below shall be made in writing by the property owner on forms supplied by the Finance Department. SECTION 21-5 PAYMENT IN FULL Upon notification by the Finance Director pursuant to Section 21-4 above, an owner may pay the special assessments in full prior to November 1st; elect to pay the entire assessment on that year’s property tax bill or may select one of the installment plans provided below. SECTION 21-6 FIVE-YEAR INSTALLMENT PLAN The first installment shall include a one-fifth (1/5) portion of the principal of the assessment. Each subsequent installment shall include a like portion of the principal and one (1) year's interest at the rate of four (4) percent per year upon the unpaid portion of such assessment. SECTION 21-7 TEN-YEAR INSTALLMENT PLAN (A) The property owner shall be deemed to accept this plan unless the property owner pays the amounts due by November 1st in accordance with section 21-5 or files with the Finance Director an election to pay the special assessments in accordance with section 21-6 or section 21-8. (B) The first installment shall include a one-tenth (1/10) portion of the principal of the assessment. Each subsequent installment shall include a like portion of the principal and one (1) year's interest at the rate of four (4) percent per year upon the unpaid portion of such assessment. SECTION 21-8 FIFTEEN-YEAR INSTALLMENT PLAN The first installment shall include a one-fifteenth (1/15) portion of the principal of the assessment. Each subsequent installment shall include a like portion of the principal and one (1) year’s interest at the rate of four (4) percent per year upon the unpaid portion of such assessment. SECTION 21-9 PRORATED INTEREST Any property owner on an installment basis may pay all remaining installments, or any part thereof, together with interest at the rate of four (4) percent per year through the day of receipt of payment, provided, however, that between November 1 and December 31 of each year, the one (1) installment with interest which is placed on the current tax roll must be paid as shown on the tax roll. SECTION 21-10 PAYMENT OF CONNECTION CHARGES (A) Except as may otherwise be prohibited by Wisconsin Statutes or Rules of the Public Service Commission, property annexing to the City shall pay a connection charge, which is calculated at rates equal to the special assessments previously levied against benefiting properties located within the City limits for public storm sewer, public sanitary sewer main and/or public water main, at such time as the annexation procedure is officially completed. (A) Within the first ten (10) years after an assessment is levied, a connection charge may be prorated upon request of the property owner. The total amount of the connection charge shall be divided by the number of years remaining under the original ten (10) year installment plan available to other property owners and that proportional amount of the principal of the assessment together with interest thereto at the rate of four (4) percent per year shall be paid each year for the remaining number of years. The Finance Director shall maintain a schedule of all ten (10) year installment assessment plans and the payments made thereon. Connection charges from any period greater than ten (10) years must be paid in full. SECTION 21-11 SPECIAL ASSESSMENTS - DEFERRED PAYMENT The Common Council may by resolution direct the Finance Director to pay all, or any portion of special assessments or special charges extended upon the current or next tax roll for any property the Council determines shall be eligible for deferment for payment. The Council may provide for annual interest upon any amounts deferred under this provision. SECTION 21-12 SEVERABILITY In the event any section, subsection, clause, phrase or portion of this ordinance is for any reason held illegal, invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision, and such holding shall not affect the validity of the remainder of this ordinance. It is the legislative intent of the Common Council that this ordinance would have been adopted if such illegal provision had not been included or any illegal application had not been made.