The Finance and Taxation Committee met on Monday, July 13, 2026, at 5:31 PM in the City Hall Council Chambers. Members present were Heidi Treuthardt, Dylan McGuire, and Richard Thoman; Matt Sheaffer was absent. The committee approved the June 22, 2026 minutes, discussed a budget amendment, and then moved into closed session to consider a property purchase.
Okay, it's 5 31. We'll call the finance and taxation committee to order, or the clerk please take a roll call. Alder True Hart here. Alder Tolman here. Alder Schaefer. And Alder Maguire. Here. Are there any correction of the June 22nd, 2026 minute? So our first order of business is discussion and possible recommendation to common council approval of 2026 budget amendment. This is administrator Rindy. And so um putting a request before you to do a budget amendment to the 2026 budget to kind of put some context in history. If you recall when we are creating the 2026 budget, um we also had a discussion on we had paid off some other non-geo debt. Um and with waiting to seek the debt issuance or bond issuance in early 2026. There was kind of that dip in our debt schedule. And so there was a discussion and approval to make an adjustment so that the debt service schedule stayed kind of steady, so then there wasn't kind of a drop on the the tax bills for that, and then the next year having a sudden increase. So we kind of um made a different allocation of that 136,000. Um during our audit with the Department of Revenue for the expenditure restraint program. It was noted that we had mistakenly allocated that to the capital fund, but it should be allocated to the debt service fund. Um and it does have an impact. They did grant us an extension. Um so we'd be looking for a recommendation. Uh it's not increasing or decreasing the overall budget at all, just changing where that 136 is not going to the debt serv or to the capital fund, but would be going to the debt service. And so we have a recommendation to common council for uh them to consider that next week. I'll make a motion that we recommend this to council. Second. Okay, we have a motion and a second. Send this council any other discussion. All right, we'll take a roll call vote, please. Alder Truehart. Aye, older Tolman. Aye, and Alder Maguire. Aye. That moves on to council. Uh our next order of business is uh uh closed bit and we will uh first we'll jump to business by members since we will we will adjourn out of our closed session since the last item on our agenda. So we'll jump up and do business by members before we go into closed session. Oh no business by members, so we will go into closed session. Business closed under Wisconsin State Statute 9 19.851E, deliberating or negotiating the purchasing of public properties, the investing of public funds or conducting other specified public business whenever competitive or bargaining reasons require a closed session. This is consideration of letter M TET to and purchase city property in the North Industrial Park. And I just need a motion to go in closed session. Motion to go and closed, second, take a vote, please. Alder Maguire, aye, and Alder True Hart. Aye. We'll move to closed session.