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HomeMy WebLinkAboutBudget/Finance Committee Minutes 03.10.2026 Minutes of City of Laurel Budget/Finance Committee Tuesday,March 10,2026 Members' Present: Jessica Banks, Tom Canape, Richard Klose, Casey Wheeler Others Present: Kelly Strecker,Kelly Gauslow,David Waggoner The meeting was called to order by the Committee Chair at 5:30 pm. Public Input: There was no public comment. General Items— 1. Review and approve February 24, 2026, Budget and Finance Committee meeting minutes. Jessica Banks moved to approve the minutes of February 24, 2026. Tom Canape seconded the motion. With no objection,the minutes of February 24, 2026, were approved. There was no public comment or committee discussion. 2. Review and approve purclase requisitions. Kelly presented a purchase requisition from One Digital. This quote is for the GASB 75 statement that is needed by our auditors. An actuarial valuation is required under GASB Statement No. 75 to estimate the city's long-term liability for other employment benefits (OPEB), such as retiree health insurance. The actuary estimates how much retiree benefits will cost over time, so the city can report the liability accurately in the audit. The cost is $5,500.00 for fiscal year 2025/2026 and for the roll forward valuation for fiscal year 2026/2027,with the total being $7700.00 for both valuations. Tom Canape moved to approve the purchase requisition for the GASB 75 valuation. Jessica Banks seconded the motion. With no objection, the purchase requisition was approved. 3. Review and recommend approval to Council; claims entered through March 6, 2026. Richard Klose moved to approve the claims and check register for claims entered through March 6, 2026. Tom Canape seconded the motion. With no objection, the claims and check register of March 6, 2026, were approved. There was no public comment. 4. Review and approve Payroll Register for the pay period ending March 1, 2026,totaling $277,678.02. Casey Wheeler motioned to approve the payroll register for the pay period ending March 1, 2026,totaling $277,678.02. Richard Klose seconded the motion. With no objection, the payroll register was approved. There was no public comment. 5. Review and approve February 2026 Utility Billing Adjustments. Jessica Banks moved to approve February 2026 Utility Billing Adjustments. Richard Klose seconded the motion. With no objection,the February Utility Billing Adjustments were approved. There was no public comment. New Business -Tom Canape had a suggestion about creating a punch card for payment at the container site. He stated that sometimes people do not have cash to pay their dump fees and that if we had a punch card that they could purchase might help with this. Kelly stated that she would work on creating a punch card. Old Business—None Other Items— 1. Review Comp/OT reports for the pay period ending March 1, 2026. 2. Mayor Update—The mayor stated that a meeting letter has gone out to CHS to review the Raw& Settled water charges. He said that they were going to meet in the upcoming weeks. He stated that Love's is hoping to open their doors on March 20, 2026, and the project on Bernhardt Road in nearing completion. 3. Clerk/Treasurer Financial Update-Kelly stated that the audit for fiscal year 2024/2025 is complete. She said she was happy that everything went smoothly. She stated that last year there were twelve findings and this year there were only seven, so she was happy with the progress she and staff have made over the last year to eliminate findings. Announcements— 1. The next Budget and Finance Committee meeting will be held on March 24, 2026, at 5:30 pm. 2. Tom Canape is scheduled to review the claims for the next meeting. Meeting Adjourned at 6:15 p.m. Resp tfully submitted, &I�Z 46A�'� Kelly Strec - NOTE: This meeting is open to the public. This meeting is for information and discussion of the Council for the listed workshop agenda items.