Finance Committee Agenda Packet - 6:15 PM

City of Oconomowoc Finance Committee Aldermen: Aultman Kloth, Chairman / Schellpeper, Secy / Frankowski Tuesday, September 01, 2026 - 6:15 PM City Hall - Conference Room 3 174 E. Wisconsin Ave. Oconomowoc, WI 53066 Notice: If a person with a disability requires that the meeting be accessible or that materials at the meeting be in accessible format, call the City Clerk at least 48 hours prior to the meeting to request adequate accommodations. Tel: (262) 569-2186. 1. Call to order and confirmation of appropriate meeting notification 2. Committee Business a. Consider/recommend Resolution 26-R3399 Exempting the City from the 2026 Waukesha County Library Levy for 2027 Purposes 3. Adjourn Gina Kozlik, City Clerk City of Oconomowoc Notice is hereby given that a majority of the Common Council will be present at the above scheduled meeting to gather information about a subject over which they have decision-making responsibility. This constitutes a meeting of the Common Council pursuant to State ex rel. Badke v. Greendale Village Board, 173Wis. 2d 553, 494 N.W. 2d 408 (1993) and must be noticed as such, although the Common Council will not take any formal action at this meeting. 1 1 MEMORANDUM FINANCE DEPARTMENT Date: September 1, 2026 To: Mayor, Common Council and Finance Committee From: Steve Hatton, Finance Director Re: Consider/act on Resolution 26-R3399 Certification of Eligibility for Exemption from County Library Tax Levy RELATES TO THE STRATEGIC PLAN n/a BACKGROUND The City supports library services to our area residents through the City’s property tax levy. To prevent City residents from also incurring a separate levy by the County for Library services, the City can apply for an exemption from the Waukesha County library levy. For the upcoming exemption period to be approved, the City must certify that during budget year 2027, our Library will be allowed to expend no less than the county library tax rate in the prior year. For the 2027 budget their amount is $0.201234 per $1,000 Equalized Value. We meet this requirement as we are at $0.220484. Shown below are the City’s Library funding levels compared to this exemption requirement: FINANCIAL IMPACT n/a RECOMMENDATION Motion to recommend to the Common Council approval of Resolution 26-R3399 exempting the City from the 2026 Waukesha County Library Levy for 2027 purposes. SUGGE STED MOTION Consent Agenda Item. Motion to approve the Consent Agenda. Tax Year Budget Year County Requirement City Library Levy (Shortfall) / Excess 2023 2024 0.215554 0.238963 0.023409 2024 2025 0.201553 0.232188 0.030635 2025 2026 0.201512 0.213029 0.011517 2026 2027 0.201234 0.220484 0.019250 2 RESOLUTION NO. 26-R3399 RESOLUTION EXEMPTING THE CITY FROM THE WAUKESHA COUNTY LIBRARY LEVY 2026 TAX FOR 2027 PURPOSES WHEREAS, the City of Oconomowoc recognizes that pursuant to §43.64 of Wisconsin Statutes, to obtain an exemption from the 2026 Waukesha County library levy for 2027 purposes, the City must certify it will expend no less than the county rate for the prior year, which was $0.201234 per $1,000 Equalized Value; and WHEREAS, the amount the Library will expend is $0.220484 per $1,000 Equalized Value; and WHEREAS, the Common Council of the City of Oconomowoc further recognizes pursuant to state law, listed funding for the Oconomowoc Public Library must come only from municipal sources and must exclude fines, fees, and other revenues as well as capital expenditures. NOW THEREFORE BE IT RESOLVED by the Common Council of the City of Oconomowoc that the City pledges to appropriate and allow the Oconomowoc Public Library to expend no less than the rate of $0.201234 per $1,000 Equalized Value published by the State on August 15, 2026, thereby exempting the City of Oconomowoc from the 2026 Waukesha County Library Levy for 2027 purposes. DATED: September 1, 2026 CITY OF OCONOMOWOC By: _____________________________ Matt Rosek, Mayor ATTEST: Gina Kozlik, Clerk 3