Finance Committee

Committee Duties

The primary duties of the Finance Committee are as follows:

• Review all bills and claims submitted to the city and upon completing such review, recommend payment, disallowance or tabling of any such bills or claims to the common council. Except for the routine payment of recurring expenses, such as wages, utilities, insurance and retirement fund contributions, no expenditure of city funds in per purchase policy shall be made unless it has been first approved by the committee.
• The annual City budget shall be developed in accordance with Wis. Stats. § 65.90. The Committee supervises the development of the annual budget, and holds a meeting at which the Mayor, the City Clerk and all Department Heads appear to explain and respond to questions concerning their respective budget requests.
• Oversee appropriations for and expenditures from the city budget and fund accounts. (includes bids for budgeted items)
• Review and make recommendations to the common council concerning the borrowing of funds in any manner for any municipal purpose, the issuance of revenue bonds of any sort for any municipal purpose, the levy or imposition of any tax, forfeiture or fees.
• Authorization/review of contracts (nonpublic works projects)
• Before the Council takes action on an annexation, a report from the Finance Committee setting forth its recommendation following study and consideration of the financial and services impact submitted shall be presented.
• The Committee shall investigate, as to compliance with State and local laws, and provide a recommendation on all applications for licenses under Council jurisdiction. The Committee shall conduct hearings related to denials or revocations of licenses under Council jurisdiction. Any such hearings shall be conducted in accordance with the requirements of Wis. Stats. ch. 68.
• Recommend insurance coverage and policies.