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HomeMy WebLinkAboutMinutes MINUTES OF THE LONG RANGE FINANCE COMMITTEE May 7, 2014 ROOM 404 The regular meeting of the Long Range Finance Committee was held on Wednesday, May 7 2014, in Room 404, at Oshkosh City Hall, 215 Church Avenue. The meeting was called to order by Chair Tom Pech Jr., at 5:15 p.m. Members Present: Tom Pech Jr., Harold Buchholz, Jeff Herzig, Bryan Schulz, and Jeff Thoms. Members Absent: Doug Pearson, Matt Lauritch, Deb Allison-Aasby, and Jason Hirschberg Staff Present: Trena Larson-Finance Director and Lori Burns–Administrative Assistant Guests: Gary Gray, a Citizen of the City of Oshkosh I.APPROVAL OF AUGUST 7, 2013 MINUTES No changes/updates. Motion to approve minutes was made by Buchholz, Second by Schulz. Motion passed unanimously. II.CITIZEN INPUT None III.INTRODUCTION OF NEW DIRECTOR OF FINANCE – (~5:20 – 5:30) Introduction by Trena Larson with a brief history. Each member shared their experience and reason they chose to be on the Long Range Finance Committee. IV.PLANS GOING FORWARD – (5:30 – 6:15) A.Long Term Debt was decided to be the priority for the next meeting. Member Pech stated the importance of this as this is one of the goals given to Manager Rohloff by the Common Council. Council wants to see the debt go from 75% to 70% area within three to five years. Member Pech requested Larson email out the debt analysis as soon as possible. Pech stated there is a historical debt sheet that Director Steeno shared before. B.Replacement / Sinking Funds were discussed as another top priority to address. Thoms discussed the need to get items out of the CIP and into a sinking fund / Capital Equipment program. C.Schulz wants to have Allen Davis come to the next meeting and give a presentation regarding the progress on Economic Development. Member Pech gave a brief analysis of where they were at so far. An Interim Economic Development Manager has been hired along with a permanent part-time Economic Development Analyst. Pech stated GO-EDC’s intent is to consolidate all the players within, the idea is to centralize. Focus is still public and private. The City beefed up the players on our team to take to that group. Everybody will continue doing what they do. Buchholz wanted an explanation on where the money came from for all the changes / additions to Economic Development. Pech explained how the line items were changed in the 2014 budget. D.Members’ terms were discussed. Council Member Pech and Council Member Allison-Aasby were both reappointed by Mayor Tower. Member Hirschberg and Member Schulz terms expire in June. This will be an item for discussion on the th agenda for the June 4 meeting. E.Buchholz asked Larson how ready she was to become active with the topics list and budget cycle. Pech stated the budget cycle will be handled this year the same as last year. The timeline will be given to the members after Council receives it in May. July will be the first council workshop. Schulz asked about TIF closings and would like an updated “Tax Incremental Financing Snapshot” which Director Steeno put together in November of 2012 for them. Buchholz asked Pech if the Common Council ever asks about or discusses the policies, i.e. the Fee Policy. Thoms brought up the question of whether we do a full recovery on charges for work done by the City and if there is any analysis done on this. V.ADJOURMENT . Motion by Schulz, Second by Thoms to adjourn. Motion passed unanimously Meeting adjourned at 6:15 p.m.