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HomeMy WebLinkAboutMinutes MINUTES OF THE LONG RANGE FINANCE COMMITTEE March 25, 2015 ROOM 404 The regular meeting of the Long Range Finance Committee was held on Wednesday, March 25, 2015, in Room 203, 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., Bryan Schulz, Harold Buchholz, Jeff Herzig, Jeff Thoms, Matt Lauritch, Jason Hirschberg, and Deb Allison-Aasby Members Absent: Doug Pearson Staff Present: Mark Rohloff City Manager, Trena Larson - Finance Director, and Lori Burns Administrative Assistant Citizen Present: Gary Gray I.Approval of January 7, 2015 Minutes No changes/updates. Motion to approve minutes was made by Buchholz, Second by Thoms. Motion passed unanimously. II. Citizen Input None. III.Policy on CIP - (5:17 6:45) Upon previous direction from the committee, Director Larson compiled a scoring system using examples from Marshfield and Charlottesville. This scoring system along with the City Manager Project Evaluation and Criteria scoring was reviewed. Chair Pech explained how the two part scoring process was completed. The first part of the scoring will be completed by Department when submitting a Capital Improvement Program (CIP); in addition, the second part of the scoring process will be utilized by the City Manager. Committee gave final suggestions for minor changes to be made to the policy by Director Larson. The final draft will be brought forward for approval at the Long Range Finance Committee th meeting on April 15. The committee would like the policy to be presented to the Common th Council on April 28. A discussion ensued regarding the development of an Equipment Replacement Fund (sinking fund). Explanation was given by Director Larson, Manager Rohloff, and Chair Pech Jr. as to why this is not a possibility at this time with budget restraints and Levy Limits. Manager Rohloff suggested having a representative come to a committee meeting at a later date, to give a presentation on Levy Limits. IV.Set April meeting date and agenda items th Meeting was set for the third Wednesday, April 15 at 5:15. V. Adjournment Mo tion by Buchholz, Second by Lauritch. Motion passed unanimously. Meeting adjourned at 6:45 p.m.