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MINUTES OF THE LONG RANGE FINANCE COMMITTEE
October 8, 2014
ROOM 404
The regular meeting of the Long Range Finance Committee was held on Wednesday, October 8,
2014, in Room 404, at Oshkosh City Hall, 215 Church Avenue.
The meeting was called to order by Chair Tom Pech Jr., at 5:25 p.m.
Members Present: Tom Pech Jr., Bryan Schulz, Jeff Thoms, Matt Lauritch, Jeff Herzig and
Jason Hirschberg
Members Absent: Harold Buchholz, Deb Allison-Aasby, and Doug Pearson
Staff Present: Trena Larson-Finance Director, Lori Burns – Administrative Assistant –
Finance Department, Allen Davis-Director of Community Development, and
Brenda Hicks-Sorensen-Interim Economic Development Manager
I.Approval of September 3, 2014 Minutes
No changes/updates.
Motion to approve minutes was made by Hirschberg, Second by Schulz. Motion passed
unanimously.
II.Citizen Input
None
III.Revolving Loan Fund Draft Manual and Scenarios –
(~5:25 – 6:00 )
Hicks-Sorensen reviewed changes made to the draft manual. Hicks-Sorensen excused
herself at 5:45 for attendance at another meeting. Davis would like the Long Range
Finance committee to recommend adoption of the Revolving Loan Fund manual to the
City Council in November for adoption in December.
IV.Update to Budget Workshop #3 - (6:00 – 6:40)
Larson provided summary of Budget Workshop #3. Council is seeking recommendation
on policy for a capital improvement program policy. Larson gave overview on the
current CIP process. The system uses the following categorizations: “Gotta Do”,
“Need to Do”, and “Should Do”.
To stay within the eleven million four hundred thousand borrowing threshold, projects
were pushed into the following years. Larson stated the 2016 CIP has also been
balanced to the eleven million four hundred thousand cap.
LRF Committee’s policy could focus on the following items: prioritization system,
number of years CIP should be balanced, funding sources, identification of if items that
should/should not be borrowed for.
V.Set November meeting dated and agenda items
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Meeting was set for the second Wednesday, November 12 at 5:15, as November 5 is
another budget workshop.
VI.Adjournment
.
Motion by Schulz, Second by Thoms to adjourn. Motion passed unanimously
Meeting adjourned at 6:48 p.m.