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HomeMy WebLinkAboutJoint Workshop/Long Range Finance Committee City of Oshkosh Peggy A. Steeno Finance Department Director 215 Church Ave.,PO Box 1130 Oshkosh,WI 54903-1130 OJHKQfH (920)236-5005 (920)236-5039 FAX ON THE WATER Joint Workshop - Common Council / Long Range Finance Committee Goals/Projects/Priorities for the Long Range Finance Committee TOPICS FOR DISCUSSION December 13, 2011 5:00 — 5:45 PM I. REVIEW ENABLING ORDINANCE II. RECAP THE ACTIVITIES/ACCOMPLISHMENTS OF THE COMMITTEE DURING ITS FIRST YEAR OF EXISTENCE III. POTENTIAL FUTURE PROJECTS PRIORITIES IV. RECEIVE FEEDBACK FROM COUNCIL ON PRIORITIES/ITEMS OF INTEREST TO THE COUNCIL OCTOBER 13, 2009 OCTOBER 27, 2009 09-397 09-412 ORDINANCE FIRST READING SECOND READING • (CARRIED 7-0 LOST LAID OVER WITHDRAWN ) AS AMENDED PURPOSE: APPROVE CREATION OF LONG RANGE FINANCE COMMITTEE INITIATED BY: DEPUTY MAYOR PALMERI A GENERAL ORDINANCE OF THE CITY OF OSHKOSH CREATING SECTION 2-43.2 LONG RANGE FINANCE COMMITTEE The Common Council of the City of Oshkosh does ordain as follows: SECTION 1. That Section 2-43.2 of the Oshkosh Municipal Code is hereby created to read as follows: SECTION 2-59.2 LONG RANGE FINANCE COMMITTEE Membership and Terms. The Long Range Finance Committee shall consist of seven (7) 9 members, two (2) of whom shall be City Council Members. At initial appointment, 4 2 member shall be appointed fora one (1) year term, 2 members shall be appointed for two (2) year terms, and 2 3 members shall be appointed for (3) year terms. Thereafter members shall be appointed and serve three year terms, except the terms of the City Council representatives shall be one (1) year terms. Purpose, Duties and Functions: The Long Range Finance Committee shall have the responsibility to advise the Common Council on policy issues related to the City's finances including areas such as policy development, communications, and the impact of state legislation and policy decisions of the Council. SECTION 2. This ordinance shall be in full force and effect from and after its passage and publication. SECTION 3. Publication Notice. Please take notice that the City of Oshkosh enacted ordinance#09-412 APPROVE CREATION OF LONG RANGE FINANCE COMMITTEE on October 27, 2009. The ordinance creates a Long Range Finance Committee to review and advise the Common Council on policy issues related to management of the City's finances including areas such as investments, budget policy, communications, debt management and the financial impact of state legislation and policy decisions of the Council. The full text of the ordinance may be obtained at the Office of the City Clerk, 215 Church Avenue and through the City's website at www.ci.oshkosh.wi.us. Clerk's phone: 920/236-5011. Bold& Italics indicates Amendment Summary of Meetings Long Range Finance Committee 9/6/1 1 August 9, 2010 Items Discussed: Orientation—Parliamentary Procedure/Open Meeting Law/Public Records/Ethics Charge of the Committee—Enabling Ordinance Agenda Creation/Establish Meeting Time & Dates/ Selection of Chair Topics of Interest/Review of the Ordinance Creating the Committee Actions Taken: Established Meeting Dates and Times Selected Chair Information Shared: 2010 Budget 2009 Annual Financial Report 2010-2014 Five Year Capital Improvement Plan Current Bond Rating Information September 1, 2010 Items Discussed: Housekeeping Items - Running of Meetings/Establishing Realistic Goals/ Opportunity for Citizen Participation/Means by which packet information is distributed/Reports to Council Explanation of City Budget City Fees Project Actions Taken: None Information Shared: Moody's Rating and 2010 Bond &Note Sales 2011 Council Budget Kick-Off Packet October 6, 2010 Items Discussed: City Fees Project Actions Taken: None Information Shared: Items held over from 9/1 meeting listed above November 3, 2010 Items Discussed: City Fees Project Actions Taken: None Information Shared: 2011 Preliminary Budget (Executive Summary) Additional Information on City Borrowing December 2, 2010 Items Discussed: City Fees Project Overview of Investment Policy Potential Creation of a Sinking Fund Policy Actions Taken: Approved City Fees Analysis and Recommendation to Council Information Shared: Approved 2011 Budget and Tax Rate Information January 5, 2011 Items Discussed: Citywide Gift Policy Equipment/Project Replacement Fund Policy Actions Taken: Reviewed Draft Gift Policy/Provided Feedback Prior to Council Consideration Decision to Continue Monthly Meetings Information Shared: Feedback on Fees Recommendation from Council Distribution of the 2011 Final Budget February 2, 2011 Items Discussed: Possible Creation of an Equipment/Project Replacement Fund Policy Actions Taken: None Information Shared: Budget Survey Being Undertaken by Students at UW-Oshkosh City Bond Refunding 2011-2015 Five Year CIP (Future) March 2, 2011 Items Discussed: Possible Creation of an Equipment/Project Replacement Fund Policy (Committee decided to defer this item for an indefinite amount of time due to the emerging issue of the State Budget and the time the committee expects to spend on that issue) Actions Taken: Deferral of the Creation of an Equipment/Project Replacement Fund Policy Information Shared: Invitation to State of the City Impact of the State Budget Repair Bill on the City of Oshkosh Bond Refunding (Refinancing) Details & Moody's Rating Revised Gift Policy Budget Survey Update 2011-2015 Five Year CIP April 6, 2011 Items Discussed: City Budget- Impact of the Proposed 2011-2013 State Budget Bill on the City of Oshkosh/Overview of 2011 City Budget/Discuss Revenue and Expenditure Charts Actions Taken: None Information Shared: Water/Storm Water/Wastewater Rate Increase Details Annual Trust fund Report May 4, 2011 Items Discussed: Possible Creation of a Fund Balance Policy for the General Fund Actions Taken: None Information Shared: 2011 Budget Survey Results Update on Impact of State Budget Bills— Statewide Analysis June 1, 2011 Items Discussed: Creation of a Fund Balance Policy Actions Taken: None Information Shared: l st Quarter 2011 Financials Budget Survey Recap Update on Impact of State Budget Bills July 6, 2011 Items Discussed: Presentation of 2011 Budget Survey, Karl Nollenberger, UW-O Fund Balance Policy Oshkosh Civility Project Actions Taken: Approved Fund Balance Policy and Recommendation to Council Voted to Support the Oshkosh Civility Project Information Shared: Items held over from the June meeting listed above August 3, 2011 Items Discussed: Fund Balance Policy—Follow up, Implementation Details Fees Project - Review Committee Work Completed 2012 Budget Process—Kick-Off Packet (including 6 month financials)/Budget Charts and Tables Actions Taken: None Information Shared: None how Are (Pl y Tax Dollars Spent ? ...., _ ,, ,,,,„,_,...„,,, !! 1!E P*+ ti a rte,. ! f" ,. '> 35%The City of Oshkosh receives 35/ of TTIh t ;ITEI)STNS )F=A3i1E IC% .,',, i ` r ' your total tax bill which is used to r s.o•ees a:c�ocx finance City services such as public � °y °�� xon _oErs eu c:tee pare c _ 1 y ( ` 3 G 38731114` C 3 1 safety, street maintenance, snow �, 7 , ,.. 7 plowing, and parks. The remaining � ��r ' " �i 65% is remitted to other agencies including: the State of Wisconsin, G 3873111 5 G -, - '° _ , Winnebago County, Oshkosh Area 7 r ,,.,,c. 4- 9 g., ,. •, 7 t School District, and Fox Valley %., l , u Technical College- t,- City of Oshkosh OASD Winn. Co. FVTC State 35% 34% 23% 7% 1% 2012 Capital Improvement Program 2012 Operations Budget $6'/,729,5'00 The Capital improvement Program (CIP) represents the projects Health/Senior that will be completed during 2012• Projects covered by the CiP include the construction and maintenance of infrastructure for Transportation, Services, Debt, services such as: streets, water, sanitary and storm sewers, as 3.8% 0.8% 26.4%r well as improvements to sidewalks, parks, and City property, facilities, and equipment. The 2072 CIP includes the following Miscellaneous, project categories: Public Works, 0.8% 12.9% •Street Improvements $9,738,080 ; •Storm Water $20,939,600 4.= 10` •Sanitary Sewer $6,047,400 •Water System $5,388,100 Museum, Library,G GOH, � •Sidewalk Improvements $1,026,200 5.1% Police, •Traffic improvements $285#,000 17.5% •Park Improvements $465,000 •Major Equipment $6,925,200 General •Property Improvements $13,598,200 Government, 8.3% Community •17F Improvements $7,709,200 Parks, Fire, Development, •TOTAL 2072 CIP $72,070,980 3.5% 17.5% 3.4% Important Contacts For more information: City Collections (920)236-5025 City Assessor (920)236-5070 http://www.ci.oshkosh.wi.us/ ARE YOU RECEIVING YOUR LOTTERY CREDIT? Q: How do / know if 1 received the Lottery Credit? A: Your tax bill lists the credit in the center of the page- Residents who qualify will notice a reduction of$76.79• Q: Do i Qualify for a Lottery Credit? A: If you are the owner of a home in Wisconsin who uses the home as your primary residence as of January 1 (Certification Date) of the year in which property taxes are levied, you may claim the Lottery and Gaming Credit. Primary residence is defined as the home where an individual lives more than six months of the year If temporarily absent, it is the home to which the owner returns. Only one primary residence may be claimed. Rental units and businesses are not eligible. Q: What if i qualify for the Lottery Credit but did not receive it? A: An owner who qualifies for the credit, but whose tax bill does not reflect the credit, may claim the credit until January 31 following the issuance of the tax bill by contacting the City Collections Department• You can also file a late claim by contacting the State of Wisconsin, Department of Revenue from February 1 until October 1 of the year following the issuance of the tax bill. Prioritized Topics List Long Range Finance Committee November 2, 2011 (Prioritized in Number Order by Committee) TOP PRIORITY ITEMS 1. 3-5 Year Budget Plan (Committee Suggestion)— This was suggested by the Committee so that we can have our eye on the future and plan and prepare for future changes. 2. Feasibility and Functionality of an Equipment/Project Fund (Staff Suggestion) (TABLED)—Since the City does not currently have a sinking fund, this would be an exploration/research project on the benefits of having such a fund, how we might be able to create one, and how it could be funded to make the City more efficient with borrowing as we move into the future. Alternative Financial Sources (Committee Suggestion)— This is for Capital Items. Leasing of vehicles. Lease buybacks. OTHER PRIORITY ITEMS 3. Long Range Debt Planning (Staff Suggestion) —Staff will share the current practice of debt planning with the Committee to see if there are ideas for improvement in this area. 4. Communications/Education (Staff Suggestion)—As a Committee we will work to explore to educate the public on the City's financial operations. 5. Shared Services Issues—Both Within Oshkosh and With Surrounding Communities (Staff Suggestion)—As shared service issues come up, the Committee can analyze the issue from a financial standpoint and make recommendations to the Council accordingly. Specifically, the committee would like to discuss Ambulance Billing. 6. Creation of a Fund Balance Policy (Staff Suggestion)—Other Funds/Health /Workers Compensation/Others 7. Handling of Special Assessments In/Out of Oshkosh (Council Suggestion) — There has been a lot of discussion at the Council level regarding the City's Special Assessment Policy. The Committee would analyze the current policy, compare to other cities'policies, and make recommendations to Council regarding any updates to the policy (or confirm that the current policy is sufficient). 8. Update Current Investment Policy (Staff Suggestion) (Introduced December of 2010/will resume in the future) 9. Growing the Tax Base (Committee Suggestion)— This would be an exploration discussion of options the City has available to grow the tax base and increase the value of the City. 10. Sustaining and Growing Revenues (Committee Suggestion)—Brainstorm to generate more/additional revenues for the City. 11. Budget Survey Follow-Up (Committee Suggestion)— The survey should be followed up on and made part of the budget process. 12. Chapter 12 —Purchasing Policy (Staff Suggestion)—Review policy updates prior to them going to Council. 13. Purchase/ Sale of Land (Committee Suggestion) — This would be an exploration/research project on outlining a policy to determine the pricing mechanism to buy and sell land, and the funding and use of those funds. It would include determining best practices, comparing to other entities, and coming up with standards to work within when completing the purchase/sale of land.