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Finance Committee of the City of Stoughton Meeting minutes September 8, 2026 The meeting was a hybrid meeting located in the Council Chambers, located at 321 S Fourth St, 2nd Floor and concurrently via Microsoft Teams. Committee members present: Patrick Butler (Chair), Brett Schumacher (Vice Chair), Lisa Reeves, Leonard “Ozzie” Doom, Brenda Carus and Tim Swadley (Mayor, ex-officio) Members absent: Adrienne Nienow, Guests present: NicoleMarie Hall, Brett Hebert (remote), Josh Ripp 1. Call to order – Butler called the meeting to order at 6:02 p.m. 2. Roll call and verification of quorum – Quorum was verified. 3. Certification and compliance with open meetings law – Butler indicated the meeting was properly noticed. 4. Public comment – None 5. Communications and presentations - None 6. Approval of minutes for 8-25-2026 – Motion by Reeves/Carus to recommend approval to Common Council. Motion passed 5-0. 7. R-123-2026 Amend Budget and Approve Purchase for Bobcat L28 Loader – Hebert reviewed the need for the loader ahead of the 2026/27 snow season. There is currently one at the dealer to purchase as opposed to placing an order after the budget is pass and missing out on getting the equipment in time for the snow season. Motion to recommend approval to Common Council by Schumacher/Doom, motion passed 5-0 8. R-124-2026 Amend Budget for Grant Funded AED Purchase – Ripp explained he had applied for an received a grant from the Bryant Foundation to replace AEDs that are expired. Old AED would be recycled through the vendor’s program. Motion to recommend approval to Common Council by Carus/Reeves, motion passed 5-0. 9. R-xxx-2026 Return Irrevocable Letter of Credit and Acceptance of Public Improvements for Magnolia Spring Development – Hall explained the improvements in Phase 1 and 1a, with the exception of the stormwater facilities, have been completed and the letter of credit is ready to return. The guarantee for the stormwater facilities was wrapped into the Phase 2 letter of credit. Motion to recommend approval to Common Council by Schumacher/Doom, motion passed 5-0. 10. Future Agenda Items a. Date to be determined i. Update Purchasing Policy ii. TID# 7 Projects (wetland restoration, land acquisition, infrastructure) iii. Affordable Housing Fund use options – R-137-2019 11. Adjourn – Motion made at 6:23 p.m. by Schumacher/Carus, motion passed 6-0. Respectfully Submitted, NicoleMarie Hall Assistant Finance Director City of Stoughton