Waunakee committee backs carry-forwards, budget amendments and transfers; staff details sick-leave liability and capital project transfers

The Village of Waunakee Finance Committee on May 19 recommended that the Village Board approve multiple year-end fiscal actions: carry-forward of unexpended 2024 appropriations into 2025, assignment of fund balance for known liabilities, and a set of budget amendments and fund transfers arising from revenues and project timing.

Renee, finance staff, summarized the carry-forward package: "In some cases, maybe unexpected too. Particularly for Jack who hasn't been part of the finance, the rest of you have been through this before. ... There's a number of items in the budget that the department can't spend them by the end of the year. And they then request to carry those forward to the next year." She noted the package covers the general fund, the senior center, village center and equipment replacement funds and pointed to the detailed resolution in the meeting packet.

Renee provided examples and figures: "Last year, we carried forward $184,000, and ... now this year, we're only carrying forward $105,000." She said some carry-forwards are recurring (elections, canine maintenance, promotional funds tied to police fundraising, donations for parks and the dementia-friendly senior program). She also said the village carried forward funds for a beam repair at the Village Center and unresolved soil-contamination cleanup work tied to the Department of Natural Resources follow-up.

On accumulated sick leave, Renee described the village policy and liability that the carry-forward process helps address: employees hired before May 16, 2013, qualify for a conversion of accrued sick leave into an HRA at retirement. "It's 8 hours a month ... the maximum accumulation is 1,168 hours," she said, adding that employees hired after the policy date may cap at 480 hours. She explained the conversion usually pays out at one times hourly rate for most employees and 1.5 times hourly rate for a few grandfathered agreements; the village maintains an assigned fund balance to cover projected retirements extending into the mid-2030s.

Renee also explained a $200,000 joint-venture stabilization fund the village maintains for partners such as EMS, fire or the metro refuse district to smooth volatility in occasional large purchases such as air packs.

On budget amendments and fund transfers, Renee highlighted a roughly $723,000 developer rebuilds services expense with offsetting developer fee revenue, and transfers required to move Centennial Park and splash-pad donations from the general fund into the capital projects fund. She said the Village Center is required by policy to transfer excess net income to the debt service fund, which reduces levy pressure over time.

Committee members asked operational questions about which year the expenditures would hit (Renee: "They will be expended in 2025") and about statutory timing for amendments; Renee said the amendments are typically done after audit procedures are complete, noting staff prepares journal entries up until the auditors arrive.

Tom Wilson moved and committee members seconded the staff recommendations; the committee called the question and voted unanimously to forward the carry-forwards, fund transfers and budget amendments to the Village Board for approval.

The committee also discussed scheduling for the audit presentation and settled on tentative dates to coordinate with auditors; the full fiscal amendment and audit report will be presented to the board after auditors complete their review.