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Weston committee reviews PSC water report, TIFF wind‑down and acknowledges May financials
Summary
Finance staff presented May budget details, TIFF activity including a $323,000 final repaving payment for the business park, and the Public Service Commission annual report for the water utility; the committee acknowledged items 5–9 by voice vote.
The Village of Weston Finance and Human Resources Committee spent much of its June 15 meeting reviewing financial reports required by state regulators and internal practices, including a Public Service Commission (PSC) annual utility filing and TIFF detail reports, and acknowledged those items by voice vote.
Deputy finance director Jessica walked members through the PSC report for the village's water utility, noting service and infrastructure metrics: she reported roughly 1,029 fire hydrants, about 5,255 customers inside the village and 836 customers outside village limits, a net operating income figure for the utility this year, and approximately 10 miles of remaining asbestos-cement water main that staff is replacing at a rate the department described as "about a mile a year." "We're working on about a mile a year," Jessica said when asked about plans to replace the remaining asbestos-cement main.
Staff also flagged TIFF (tax incremental financing) activity: a last payment for the business park and technology repaving of $323,000 was charged to Fund 40 and will be part of winding down TIFF 1 expenditures. Committee members asked about timing for final numbers and whether a Community Development Authority (CDA) action would be required to 'call the debt' via the Depository Trust Company (DTC); staff said formal notice to DTC would be an administrative step once final figures are ready.
On state reporting, staff described the municipal financial report filed with the Wisconsin Department of Revenue and explained how fund classification affected the village's calculation of transportation aid, including a borrowing structure that separated public-works borrowing from general-administration borrowing to secure a longer-term bond.
After questions, committee member Mel moved to acknowledge agenda items 5–9 (the May budget status, TIFF reports, legal details, PSC report and state municipal report); Daniels seconded and the motion carried by voice vote.
Next steps: staff will bring any final TIFF reconciliation, DTC notice requirements, or contract calls to the village board or CDA as needed for formal action.
