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Ashwaubenon committee receives May financial reports, hears audit results and approves fiscal policies
Summary
At its June 16 meeting the Village of Ashwaubenon Finance and Personnel Committee voted to receive May financial reports, reviewed the completed 2025 audit showing a $195,000 positive change in fund balance, and approved updated financial policies and the 2027 budget timeline.
The Village of Ashwaubenon Finance and Personnel Committee met June 16 and voted to receive the May financial reports, reviewed findings from the completed 2025 fiscal audit and approved updated financial policies and the village's 2027 budget calendar.
Greg, a village finance staff member, told the committee there was "really not a lot to report" for May but noted two areas to watch: higher fuel costs and reduced building‑permit revenue. He said investment earnings are running ahead of plan and should help offset weaker permit receipts as the year progresses. "We were actually able to end the year with a $195,000 positive net change in fund balance," Greg said, raising the undesignated fund balance to about 26.3% of expenditures.
The committee heard that auditors identified a drawdown in utility cash balances tied in part to higher charges from Green Bay Water; staff said they are addressing the issue through rate updates and ongoing budget monitoring. Justin Hoagland, a principal partner at accounting firm Baker Tilly, is scheduled to present the audit highlights at next week's Village Board meeting.
Committee members approved a set of standard financial policies, including continuing disclosure procedures, debt management, fund balance, investment and purchasing policies. The only substantive change staff highlighted for the committee was updating continuing disclosure materials to reflect 2025 data rather than 2024.
The committee also approved the 2027 budget calendar: an internal kickoff in August, department budgets due by Sept. 25, joint committee and board review Nov. 10, and final adoption on the fourth Tuesday in November to meet the statutory deadline. Staff emphasized the budget process will incorporate data on health insurance and compensation beginning in September.
No member spoke against the motions; each vote was carried by voice.
Next steps: the audit will be presented at the upcoming Village Board meeting and the committee will reconvene in July to begin reviewing capital improvement projects during budget season.
