_09012026-1184

FINANCE COMMITTEE Tuesday September 1, 2026 5:00 pm at CITY HALL 405 Jewel Street MINUTES _________________________________________________ Finance Members: Bob Chapman, Mike Cypert and Troy Justmann Others Invited: Meagan Buchda and Mayor Jane Fude Also Present: Joe Ludtke and Connie Schuet 1. The Mee�ng was called to order at 5:00 pm and roll call was taken. 2. T. Justmann / M. Cypert mo�oned to approve the agenda. Mo�on carried. M. Cypert / T. Justmann mo�oned to approve the August 4, 2026, minutes. Mo�on carried. 3. Public Comment: None. 4. Review, Discuss, and Possibly Approve RFP 3-year Contract for City Accessor. Clerk/Treasurer discussed an RFP went out for bid for a 3-year contract star�ng in 2027 for City Assessor. 2 out of the 4 companies responded. The no�ce was published in the Watertown Daily Times on July 20, 2026, with bids due August 21, 2026. Bowmar Appraisal, our current City Assessor, was chosen for the next 3-year term. T. Justmann / M. Cypert mo�oned to approve City Hall project. Mo�on Carried 3-0. Forward to Council. 6. Review, Discuss and Possibly Approve Amendment to the 2026 City Fee Schedule. Street Superintendent Joe Ludtke reported that current street opening permits are only $50 and would like to get this increased to $200 plus $.40 per linear foot over 500 feet of street opening, with the addi�on of a $2500.00 bond fee with a 3-year moratorium for not allowing street opening for new streets. M. Cypert / T. Justmann mo�oned to amend the 2026 Fee Schedule to reflect the requested street opening permit change. Mo�on carried 3-0. Forward to Council. 7. Review, Discuss and Possibly Approve installing outside cameras at City Hall. Reques�ng addi�onal informa�on from J. Fude. Noted that we didn’t want to include residen�al homes surrounding city hall. Tabled un�l next mee�ng. 8. Review, Discuss and Possibly Approve 2026 Budget Amendment for the Library. Clerk/Treasurer is reques�ng $11,789.10 be returned to the general fund budget from the Library Board. This amount is no longer necessary for a budgeted health insurance benefit amount for an employee for 2026. Finance is reques�ng that the Library Board consider this amendment to the 2026 Library budget. T. Justmann / M. Cypert mo�oned to approve this request. Mo�on carried 3-0. 9. Review, Discuss and Possibly Approve Annual Deposit of Library County Aid Payment. Discussion was had regarding annual deposit of Library County Aid payment. Normal procedure is the Clerk/Treasurer deposits payment in March. In 2026 the Library Board voted to deposit payment into a 9-month CD to accrue interest to cover office supplies. Clerk/Treasurer looking for guidance from Finance for regular annual procedure for future annual deposits. M. Cypert / T. Justmann mo�oned to approve that the process should be as follows: the annual March payment be deposited by the Clerk/Treasurer into the Local government investment pool and withdrawn by July 31 st each year. Interest will be designated to cover Library office supply expenses. 10. Review, Discuss and Possibly Approve Farm Lease. The current farmland tenant is interested in another 3-year agreement star�ng in 2027 at the current rate. T. Justmann / M. Cypert mo�oned to approve a 3-year lease agreement. Mo�on carried 3-0. Forward to Council. 11. Review, Discuss and Possibly Approve 3.5% Cost-of Living Increase. Discussion was had on how Personnel approved the 3.5% COLA. Finance agreed. M. Cypert / T. Justmann mo�oned to approve 3.5% COLA. Mo�on carried 3-0. Forward to Council. 12. Review, Discuss and Possibly Approve 2027 Capital Requests. Library Director suggested the use of the excess budgeted health insurance benefit monies to be used for her current requests. She noted that she will get addi�onal quotes for her capital landscaping request. All requests tabled at this �me. Will be on the next Finance agenda. 13. Review, Discuss and Possibly Approve Department Budgets submited to the Clerk/Treasurer. Small discussion was had. Noted that health insurance amounts were provided by ETF earlier today. Budgets will need to be adjusted to reflect this amount. Will be on next Finance agenda. 14. Future Agenda Items: 15. Set Date and Time for Next Mee�ng: Finance – October 6, 2026, at 5:00 pm. 16. M. Cypert / T. Justmann mo�oned to Adjourn Mee�ng at 5:57 pm. Mo�on carried. Minutes Reported By: Bob Chapman