Finance Committee Meeting | June 23, 2025

The City of Watertown Finance Committee convened on June 23, 2025, to discuss several procurement and budget-related matters. Key topics included updates on the solid waste utility capital budget, notably reallocating funds originally set for building upgrades to acquire a second truck. The committee reviewed a new e-waste recycling contract that will reduce costs and potentially generate revenue, with discussions on updating the fee schedule accordingly. They approved an operating agreement with the Wisconsin Department of Transportation for Opticom use at a state-owned intersection. The committee also reviewed and approved the hiring of a new IT coordinator, with plans to form an IT advisory committee. A significant portion of the meeting focused on the initial draft of the Fiscal Year 2026 Capital Improvement Plan, which proposed a $7.2 million borrowing target after trimming an original $13.6 million request. The plan includes a major $6 million renovation of City Hall and considerations for legacy borrowing related to fire station projects. The committee discussed expenditure restraint program constraints impacting budget increases and the potential need for satellite fire stations. Additionally, the committee reviewed a proposed residential development requiring Tax Increment Financing (TIF) assistance, expressing cautious optimism about the project’s potential to revitalize downtown Watertown. Motions were passed to authorize property acquisition for $40,000 and to amend the TID 8 fund budget to support the development. The meeting concluded with a closed session to discuss ongoing negotiations and legal matters related to public property and investments.