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HomeMy WebLinkAboutAttachments MINUTES OF THE LONG RANGE FINANCE COMMITTEE August 3, 2011 ROOM 406 The regular meeting of the Long Range Finance Committee was held on Wednesday, August 3, 2011, in Room 406, at Oshkosh City Hall, 215 Church Avenue. The meeting was called to order by Chair Harold Buchholz, at 5:00 p.m. Members Present: Harold Buchholz, Jeffrey Thoms, Bryan Schulz, Don Simons, Jason Hirschberg, Deb Allison-Aasby, and Jeff Herzig Members Absent: Doug Pearson, and Tom Pech Jr. Staff Present: Peggy Steeno-Finance Director, and Lori Burns–Administrative Assistant I.APPROVAL OF JULY 6, 2011 MINUTES Correction noted and changed; Doug Pearson was missing from ‘Members Present’. Motion by Hirschberg, Second by Thoms, to approve the Committee Meeting Minutes as changed, of July 6, 2011. Motion passed unanimously. II.CITIZEN INPUT None. III.RECAP FUND BALANCE POLICY (~5:05 – 5:10) th Council approved the policy as recommended at the July 13, 2011 meeting. The policy is now in place. Steeno gave clarification between this and the equipment replacement plan. The upcoming changes in regard to this were discussed. The analysis will change a bit where it is shown in the budget document; “ANALYSIS OF GENERAL FUND EQUITY”, page 21 of the budget document. Steeno explained when it changes, 2010 results affect 2012 budget. Steeno will condense the fund balance history sheet and bring it back to the September meeting. There was discussion on the Auditor’s comments on the fund balance policy which were very favorable. The rate agency will see the policy when the City does another borrowing in 30-60 days. However, the rate agency cannot comment on the policy. The City will just see their rating once the borrowing is all done. IV.FEES PROJECT (~5:10-6:00) Review Committee Work Completed for New Members Steeno gave an overview of the entire fees project process for the benefit of new committee members. The ambulance and inspections fees will be getting reviewed during the 2012 budget process. The rest of the fees review will be done outside of / after the 2012 budget process. V.2012 BUDGET PROCESS (~6:00 – 6:45)  Budget Kick-Off Packet to Council on 7/26/2011 th Steeno walked through the budget kick-off packet presented to Council on July 26.  Budget Memo  Six Month Financials  Historical Tax / Levy / Expenditure information, 10-year history  2012 Budget Timeline  Preliminary 2012 Budget Assumptions  Discussions followed.  Budget Charts and Tables Steeno followed up on the Committees’ request at the July meeting on the importance of educating the public; more visuals in the budget document, insert in with tax bills. Handouts were given of several examples of charts, pictures, and graphs used by various Cities. Committee liked the dollar bill example splitting out, “Where Does Your Tax Dollar Go?” This along with a pie chart with clear wording will be put together and presented at the next meeting for an insert to go with the tax bills VI.INFORMATION SHARING/HOUSEKEEPING ITEMS (~6:45 – 7:00) All committee members are to brainstorm on future topics and goals of the committee. Members will email all their comments / concerns / suggestions to Chair Buchholz. VII. FUTURE TOPIC SUGGESTIONS / ONGOING TOPICS LIST The next meeting will focus on the outcome of the members’ comments. VIII.ADJOURNMENT Motion by Simons, Second by Schulz, to adjourn. Motion passed unanimously. Meeting adjourned at 7:00 p.m.