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Finance committee forwards depository designations, $1M in carry-forwards and budget amendments to village board
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Summary
The Waunakee Finance Committee on April 6 approved a resolution naming public depositories (4–0 with two abstentions), authorized carry-forwards including a projection of just over $1,000,000 for sick-leave conversions, and approved budget transfers including a $301,000 transfer to the equipment replacement fund; all items advance to the village board.
The Waunakee Finance Committee on April 6 voted to recommend several routine finance measures to the village board, including a resolution designating the village's public depositories, carry-forward of unspent 2025 appropriations and a package of budget transfers and amendments.
The committee approved the depository resolution by voice vote with four ayes and two abstentions after two members said they would abstain because a bank they represent was listed. Committee discussion focused on statutory safeguards; staff noted that the statute provides for dual signatures on withdrawals and that finance procedures require an initiating staff member and a separate approver.
Renee, the finance staff member leading the packet presentation, summarized the carry-forward resolution and calculations for accrued sick-leave conversions, saying, "This year was just over $1,000,000," and that the amount reflects projected payouts as employees become retirement-eligible. She also described a $200,000 joint-venture stabilization fund the village has set aside for unbudgeted emergency needs affecting fire, EMS or the Metropolitan Refuse District.
Committee members asked how often the stabilization fund had been tapped. Renee said the board had authorized use in connection with an outside consultant for the fire-district withdrawal work, and earlier emergency purchases (air packs) would be the type of expense the fund was intended to cover. She said the village replenishes reserves from excess tax revenue rather than a separate levy when possible.
On budget amendments, Renee walked the committee through a color-coded schedule showing the revenue sources that offset overages. Highlights included about $10,000 in extra municipal court legal costs tied to trials, a dental-insurance accounting effect tied to a move toward self-insurance, and a roughly $1,200,000 municipal revenue obligation payment in TID No. 6 (Kilkenny) that occurred in 2025 because the developer met contract milestones earlier than expected. Staff stressed the last item was a timing issue and did not increase the total obligation.
The committee approved a package of fund transfers and budget amendments that includes moving about $301,000 from general-fund excess to the equipment replacement fund to preserve a five-year replacement average amid higher vehicle prices and longer lead times. A committee member raised a policy concern about whether taxpayers are being charged appropriately for services when reserves are used; the committee discussed fund-balance policy and the trade-offs of smoothing costs across years.
Votes at a glance: - Approval of minutes: motion carried (motion and second recorded). - Resolution designating public depositories: approved by voice vote, 4 ayes, 2 abstentions. - Resolution to carry forward unexpended 2025 appropriations and assign fund balance: approved by voice vote. - Resolution approving fund transfers and budget amendments (including $301,000 transfer to equipment replacement): approved by voice vote.
The committee forwarded all measures to the village board for final action and adjourned the meeting.
