Fitchburg Finance Committee Meeting - February 24, 2026

The Fitchburg Finance Committee met on February 24, 2026, and adjourned at 6:17 p.m. after approving minutes, hearing the finance director's report, reviewing bills, and unanimously approving all eight resolutions on the action agenda.

Minutes and Public Appearances

• Alder Jetzer moved to approve the minutes as drafted in the packet; the motion passed unanimously.
• No members of the public appeared for non-agenda items.

Finance Director Report

• Finance Director Missy presented the December 2025 Treasurer's Report, noting property tax collections of almost $40 million as of year-end.
• She reported the arbitrage analysis for the 2020A debt issuance: the city met spend-down requirements and an exception applied, so no rebate is owed to the federal government and no future payment is expected while the bona fide debt service fund is retained.
• In response to questions, she said the 2020 debt issuance of $19.3 million was used for roads including Fish Hatchery Road, the fire squad, and refunding some library bonds; the low 1.4% yield reflected favorable December 2020 market conditions and the city's AAA rating.
• Auditors are expected in two weeks.
• Missy reported the city's first attempted check fraud since implementing positive pay: a $17,000 check to the U.S. Postal Service was intercepted and altered, but positive pay prevented the city from losing money.

Review of Bills

• Reviewed P-card transactions for the cycle ending January 6, 2026, totaling $183,938.13.
• Reviewed checks 130059 through 130233 issued February 1-15, 2026, totaling $2,716,604.01.
• Alder Bill asked about a fuel surcharge on a Pelloteri charge; Public Works' Tim said the surcharge was set in the contract/RFP and would provide the base-rate details at a later meeting.
• Alder Bill asked about two refund checks to the same person; Tim said it was likely accurate because the person overpaid on two properties.

Public Comments & Testimony

• Don Stegert, representing Friends of Kyle Stegert Greenway, reported that the group is now a 501(c)(3) with a seven-member board, has $26,000 available after a January fundraiser, and has already completed invasive-plant control and a prairie burn on the Outlot 8 property. She asked the committee to move the resolution and property agreement forward.
• Steve Arnold, of 2530 Targi Street, suggested aligning the resolution language with construction plans rather than conceptual plans, and changing the resolution title from "property use agreement" to match the agreement's actual title, "property improvement agreement." He also described the financial arrangement: the Friends group will deposit funds with the city, the parks department will debit the account for work, and some park department staff time will be contributed.

Action Items and Votes

• Resolution R-27-26: Approving plans and a property agreement for Outlot 8 of the Second Edition to Highlands of Seminole. Staff noted the agreement requires a $10,000 deposit, replenishment if funds fall below $2,500, and leaves future city discretion if the area ceases to be a park. The resolution passed unanimously as amended by the Parks Commission.

• Resolution R-28-26: Replacing two SCBA compressors and fill station systems. The fire chief said the compressors are at end of life; cost is just under $134,000, with electrical installation expected not to exceed $3,000. A tariff extension was noted for orders after January 30. Passed unanimously.

• Resolution R-41-26: Authorizing rejection of bids for the Area H stormwater pond project. Public Works' Tim said the project was advertised in September 2024 and six sealed bids were opened, but costs were excessive—charges per acre were an order of magnitude higher than other city charge reports—and landowners preferred smaller basins on their own land. The committee noted plans now call for two wet ponds and three infiltration basins. Passed unanimously.

• Resolution R-42-26: Fire Station 3 CIP network equipment refresh. The IT director said the purchase detail is withheld from public packets for cybersecurity reasons but available to council members; the approximately $21,700 cost covers firewalls, switches, licensing, and five years of support. Passed unanimously.

• Resolution R-44-26: Adopting the 2027-2036 Capital Improvement Plans schedule. The finance director said council action was moved back to the second July meeting and council amendments are now due at noon to allow time for review. Passed unanimously.

• Resolution R-45-26: Amending the 2025 general fund budget for utilities and telephone. Public Works' Tim said colder-than-normal November and December temperatures drove utility overruns across city buildings; the 2026 utility budget was increased by 3%. Passed unanimously.

• Resolution R-46-26: Amending 2026 sewer utility and capital projects fund budgets for the Badger Lane lift station replacement. Tim said the station serves land absorbed from the Town of Madison in 2022; the updated project estimate leaves about a $156,106 gap. The committee approved transferring $160,000 of Town of Madison fund balance from CIP 1040 to the sewer utility. About $700,000 remains unallocated in that account before the transfer. Passed unanimously.

• Resolution R-48-26: Preliminary assessment resolution for the 2026 sidewalk replacement project. Tim said most work will be in the northwest corner of the city; the project would be bid in March, awarded in April, and built in summer. Staff plan to alternate sidewalk replacement and roadway surface maintenance every other year. Passed unanimously.

Key Outcomes

• All eight resolutions passed unanimously.
• The next finance committee meeting is scheduled for March 10, 2026.
• Staff will provide fuel surcharge contract details in response to Alder Bill's question.