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September 23, 2026, Finance Committee Meeting Meeting Minutes Pursuant to due call and notice thereof, a meeting of the Finance Committee was held on Wednesday, September 23, 2026, in the Prescott Municipal Building, 800 Borner St., Prescott, WI 54021 Call to Order Mayor Gerke called the Finance Committee meeting to order on Wednesday, September 23, 2026, at 5:04 p.m. Roll Call Committee present: Chair Mayor Gerke, Councilmember Sorenson, Councilmember Bettis, Councilmember Hintz, Councilmember Ruona, and Councilmember Otwell. Committee members absent: Councilmember Granquist. Staff present: City Administrator, Matt Wolf, City Treasurer, Beth Lansing, Police Chief, Eric Michaels, and Library Director, Carissa Langer. Others Present: Greg Adams, Cory Scheidler, and Jessie Sather with Cedar Corporation Discussion on Concept Plans and Costs for Police, Library, City Hall and Shared Space Improvements Cedar Corporation Architecture Director Sheidler presented on the conceptual layouts for a combined Police, Library, and City Hall Building with shared space. The layouts included a potential option to add a Fire Hall in the future. The Finance Committee requested a tax impact review of two separate options at the upcoming Finance Committee meeting on October 7: Option 1 – Construction of Police, Library, City Hall and Shared Space as shown in the concept plans (total estimate of $11.5 million). Option 2 – All of the construction included in Option 1 plus the Fire Hall (total estimate of $17.1 million). 2026 Budget Overview City Treasurer Lansing gave a presentation on the current year end projections of the 2026 Budget. 2027 Capital Improvement Items Discussion City Administrator Wolf gave a presentation on the 2027 Capital Improvements Items found in the Finance Committee packet. The Committee was in favor of moving forward with financing the City’s portion of the well #4 improvements out of the City’s Water Fund rather than a potential water rate increase if approved by the Wisconsin DNR and PSC. Councilmember Hintz requested that power be added to the pavilion at Fairy Wonderland Park. Mayor Gerke requested that the City review the culvert at Henry and Campbell Street to make sure no further repairs are needed before the Orrin Road Mill and Overlay Project. Staff will review these items and make sure they are addressed. 2028 and Beyond Capital Projects City Administrator Wolf gave a presentation on the possible extension of Ryden Road in 2028 and the Long Term Water Utility Improvements. The Committee expressed their approval of moving forward with the Ryden Road extension in 2028 unless a potential user buys one of the lots, which could move up the timeline. The Committee did not have concerns regarding the long-term water improvements. Councilmember Ruona requested that the City review our emergency preparedness especially as it relates to utilities. 2027 Wage and Personnel City Treasurer Lansing presented on the 2027 Wages and Personnel with a proposal that non-represented staff be given a 3% cost of living adjustment and represented staff (Police) have a 4% increase as found in their union agreement with the City. The Committee was fine with the wage proposals for the 2027 Budget and requested that an updated compensation study be done in 2028. Discussion on Long Term Options for 256 Front City Treasurer Lansing presented three options for the property at 256 Front Street: Option 1 – Short Term Rental Option 2 – Long Term Rental Option 3 – Sale for Commercial Property The Finance Committee reviewed and preferred Option 1 pending review by the City Attorney. Ruona/Sorenson motioned to adjourn the Council meeting at 7:40 p.m. Motion passed without a negative voice vote. Respectfully Submitted, Matthew J. Wolf City Administrator