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FINANCE COMMITTEE Meeting Minutes June 23, 2026, Regular Meeting The meeting was called to order by Councilor Jack Sweeney at 4:30 pm on June 23, 2026, in Government Center Room 204. 1 . ROLLCALL PRESENT: Jack Sweeney, Tylor Elm, Mike Herrick. CITY STAFF PRESENT: Nick Rhinehart (Finance Director), Renee Hoff (Assistant Finance Director), Councilor Garner Moffat. VIRTUAL: OTHERS PRESENT: 2. APPROVAL OF MINUTES 2.1 Finance Committee (Meeting held May 26, 2026) Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to approve the Finance Committee minutes May 26, 2026. 3. OLD BUSINESS 4. NEW BUSINESS 4.1 Library Utility Cost Review Discussion regarding efficiencies to lower utility costs over the five-year review period due to LED lighting and upgraded AC system. The committee requested an analysis of costs per type of utility (water, gas, electric, sewage, and stormwater) for the July committee meeting agenda. Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to hold in committee. 5. RECURRING BUSINESS 5.1 Golf Course Report and Financials April 2026 Discussion to move to quarterly review with Dan Walker invited to present financial reports. Motion was made by Tylor Elm, seconded by Mike Herrick, carried to approve and file the April 2026 report. 5.2 May 2026 Check Register A question and answer period was ensued. Motion was made by Tylor Elm, seconded by Mike Herrick, carried to approve and file the May 2026 Check Register. 5.3 General Fund Financial Statement – 2025 Expenditure and 2026 Expenditures vs Budget Analysis as of June 10, 2026 Finance Director Nick Rhinehart spoke on the positive position of the General Fund. A question and answer period was ensued. Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to approve and file the General Fund Financial Statement – 2026 Expenditures vs Budget Analysis as of June 10, 2026. 5.4 American Rescue Plan Act (ARPA) Fund Budget Review Finance Director Nick Rhinehart spoke on the Budget. Non-Profit grants obligated funds need to be spent and reported with a remaining balance of $10,000. A question and answer period was ensued. Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to approve to file the American Rescue Plan Act (ARPA) Fund Budget Review. 5.5 Insurance Update Finance Director Nick Rhinehart spoke on the Medica renewal and GLP-1 medication benefits. A question and answer period was ensued. No action taken. 5.6 Other Financial Matters Future agenda items:  Village of Superior Fire Protection Contract  Humane Society of Douglas County Contract  Barker’s Island Marina Financial Statements  TID 2026 Budget Approvals  Landfill rates and DNR escrow account  Connect Superior quarterly financial updates (balance sheet and Income Statement)  Uniform/Rug rental 6. ADJOURNMENT The meeting was adjourned at 5:40 p.m. Minutes respectfully submitted by Renée Hoff