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Finance Committee Minutes 25-05-05FINANCE COMMITTEE MEETING MONDAY, MAY 5, 2025 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, May 5th 2025 1 | 2 1. ROLL CALL Present in Person: Committee members John Widerman, Lisa Post, Steve Coyer and Councilors Kevin Hyatt and Lindsay Hardy. Present Virtually: Committee Member Clark Rogers, Town Manager Eric Heil Absent: Committee member Markian Fedeschuk. Staff: Deputy Town Manager Patty McKenny, Chief Financial Officer Paul Redmond, Finance Manager Joel McCracken, Financial Analyst Chase Simmons, Recreation Director Michael Labagh and Chief Administrative Officer Ineke de Jong as Secretary. The meeting was called to order by CFO Paul Redmond at 12:05 p.m. 2. APPROVAL OF MARCH 3RD, 2025 MINUTES Committee member Lisa Post moved to approve the minutes. Committee member John Widerman seconded that motion and it passed 4 to 0 with the 4 voting committee members present. 3. PUBLIC COMMENT There was no public comment. 4. WORK SESSION: RECREATION CENTER REFRESH (MICHAEL LABAGH, RECREATION DIRECTOR) Recreation Director Michael Labagh took the Finance Committee through the Recreation Center presentation including the background of the rec center since opening its doors. He then jumped into the Facility Condition Assessment study / evaluation which evaluates all the components for maintenance & upkeep. And then showed an overview of the minimum refurbishment required including the roof, water slide, hot tub repairs, HVAC and plumbing, electrical infrastructure, pool pumps and a few other items. Then he took the group through a potential addition, showing the basic expansion option, and the financial considerations and significant operational impact of the closure needed for this renovation. Some questions & comments raised by the committee: 1) Is this expansion mainly to increase capacity? Just to keep up with a growing community? Will we attract more people? Will we add additional programs & offerings? 2) What is the breakdown of local versus visitors use of the rec center facility? 3) What is the facility’s useful life after renovations? How far forward will it push the facility’s capacity? 4) Should the rec center be relocated to the area near Walmart, planning area A where a park is planned? And then we could repurpose the current building for something that needs to be in close proximity to the park. 5) Would admission prices be raised to balance supply & demand? 6) Would a reservation system return to manage capacity better? 7) Would a parking structure be included in the expansion plans? Parking is so expensive and perhaps habits should change to “walk or bike to your workout”. 8) The estimated cost of $7.7Mln does not seem accurate and reviewing and getting a more accurate number to present would be helpful for everyone. 9) Could there be a cost benefit to doing 3 levels in the addition, do a cost analysis of going down FINANCE COMMITTEE MEETING MONDAY, MAY 5, 2025 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, May 5th 2025 2 | 2 half a level and then adding 2 levels on top. 10) If we shut down the pool for 3 months then we should probably go ahead and do all the required pool maintenance for the next 10-20 years? 11) Expect low voter appetite for mill levy to pay for this expansion. Steve Coyer left the meeting at 12:37 p.m. As this was a work session, no motion was made. Eric Heil left the meeting at 1:03 p.m. 5. PRESENTATION: 1ST QUARTER GENERAL FUND R EVIEW (CFO PAUL REDMOND) Chief Financial Officer Paul Redmond presented the 2024 financial update. We ended the year with a surplus, even after moving out $2,600,000 dollars to fund the public works garage. The finance team has started quarterly meetings with each division/department to see how they are tracking on the 2025 budget. It has been well received and all departments are right on track with their 2025 budget. As this was a presentation, no motion was made. 6. WORK SESSION: 2026 BUDGET PROCESS TIMELINE (CFO PAUL REDMOND) Chief Financial Officer Paul Redmond explained that staff will be starting the 2026 budget process soon. We kick off with department presentations to Council between now and July. Then next steps are review of the Town’s health plan and staffing projections for the next 3-5 years. Finance is assessing what projects would potentially build out and what growth is expected and the impacts they will have on community needs for staffing levels. In the summer staff will review capital projects and a deep-dive budget review with each division/department. As this was a work session, no motion was made. FINANCE COMMITTEE MEETING MONDAY, MAY 5, 2025 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, May 5th 2025 3 | 2 7. NEXT COMMITTEE MEETING DATE Monday, July 7th at 12:00 p.m. 8. ADJOURNMENT Committee Chair John Widerman moved to adjourn the meeting. Committee member Lisa Post seconded that motion and the meeting adjourned, the time was 01:20 p.m. Respectfully Submitted by: Ineke de Jong, Chief Administrative Officer. These minutes are action minutes and only a summary of the proceedings of the meeting. They are not intended to be comprehensive or to include each statement, person speaking or to portray with complete accuracy.