Finance Committee — Minutes

CITY OF STEVENS POINT FINANCE COMMITTEE AGENDA August 10, 2026 - 6:17 PM Community Room 933 Michigan Avenue, Stevens Point, WI OR Zoom Teleconferencing Meeting ID: 848 2231 6903 | Passcode: 108238 By Computer: Zoom Link By Phone: +1-312-626-6799 (US Chicago) MINUTES Non-Action Items: 1. Roll Call. PRESENT Ald.Christianson, Morrow, Shuda and Guthrie EXCUSED Ald. Keymer OTHERS PRESENT Comptroller Ladick, Mayor Wiza, Directors Kremer, Kivela, Beduhn, Fire Chief Moody, Police Chief Orgon, Deputy Treasurer Peterson, Alderpersons Lang, Birr, Olson, Donahue, Kneebone, and Moldenhauer, Ben Nusz, and Karen Margelofsky. 2. Presentation of Preliminary Update on the 2027 Operating Budget. Comptroller Ladick reviewed the budget process with the Committee noting that the cost of living wage increase for 2027 is expected to be 3.13%. It was noted that the general operating budget is 81% wages and benefits. There will be a special Finance Committee meeting in October to present the proposed operating budget. 3. Presentation on investment options for the Forest Cemetery Perpetual Care Fund and Post-Employment Benefit funds and liabilities. Comptroller Ladick explained the various investment options available to the City for cemeteries and post-employment benefit funds and liabilities. It was noted by the committee that the cost for cemetery plots should be looked at in the near future. Discussion and Possible Action on: 4. Consideration of Claim-James Smith: Damage to vehicle by falling tree branch. Ald. Guthrie moved, Ald. Morrow seconded, to disallow the claim from James Smith for the damage to a vehicle caused by a falling tree branch. Call for the vote: ayes, all; nays, none; motion carried. 5. Consideration of Claim-Nicole Winkelman: Damage to vehicle due to missing manhole cover. Ald. Morrow moved, Ald. Shuda seconded, to deny the claim from Nicole Winkelman for damage to a vehicle due from missing manhole cover. Call for the vote: ayes, all; nays, none; motion carried. 6. Consideration of an Initial Resolution Regarding Industrial Development Revenue Bond Financing for Firecrest Aerospace, Inc. Project. Information with respect to the job impact of the project will be available at the time of consideration of the Initial Resolution. Ald. Morrow, Ald. Shuda seconded, to approve the initial resolution regarding Industrial Development Revenue Bond Financing for Firecrest Aerospace Inc Project. This was brought back to the committee because a few things changed from the original resolution. None of the changes in the plan alter the basics of the agreement. Call for the vote: ayes, all; nays, none; motion carried. 7. Approval of funding for the relocation of telecommunication lines at and around the former Edgewater site. (1450 Water St.) Ald. Morrow moved, Ald. Shuda seconded, to approve the funding for the relocation of telecommunication lines at and around the former Edgewater site. Call for the vote: ayes, all; nays, none; motion carried. 8. Approval of adjusting the fee for licensing cats. Ald. Shuda moved, Ald. Morrow seconded, to increase the cost of a cat license to $14 for spayed or neutered and $24 for not spayed or neutered starting with the 2027 licenses. Call for the vote: ayes, all; nays, none; motion carried. 9. Approval of agreement between the City of Stevens Point and MId-State Technical College related to the proposed Nexus Center for public safety training and fire station number 3. Fire Chief Moody informed the Committee that a couple of changes asked for from the previous version of the lease were made, including changing the term of the lease to fifty years and including right of first refusal with a three-year notice. Ald Olson asked that declaring that area an emergency shelter and building with sustainability in mind, specifically geothermal, should also be added. Ben Nusz noted establishing an emergency shelter could be done in a memorandum of understanding at a later date and the construction of the building needs to meet technical college system standards so those things will all be looked at and evaluated. Ald. Guthrie moved, Ald. Morrow seconded, to approve the agreement between the City of Stevens Point and Mid-State Technical College related to the Nexus Center for public safety training and fire station number 3. Call for the vote: ayes, all; nays, none; motion carried. 10. Approval of change order with AECOM related to the North Segment of the Business 51 project. Ald. Guthrie moved, Ald. Shuda seconded, to approve the change order with AECOM related to the North segment of the Business 51 project. Call for the vote: ayes, all; nays, none; motion carried. 11. Approval of change order with AECOM related to phases 2 and 3 of the Sourth Segment of the Business 51 project. Ald. Shuda moved, Ald. Morrow seconded, to approve the change order with AECOM related to phases 2 and 3 of the South Segment of the Business 51 Project. Call for the vote: ayes, all; nays, none; motion carried. 12. Approval of Claims Paid. Ald. Shuda moved, Ald. Morrow seconded, to approve the claims paid. Call for the vote: ayes, all; nays, none; motion carried. Closing Section: 13. Adjournment Meeting adjourned at 7:34 pm.