Finance Committee Meeting - July 13, 2026

The City of Stevens Point Finance Committee met on July 13, 2026, to review several key financial and procurement matters. The committee received a detailed presentation of the fiscal year 2025 financial audit results from Baker Tilly, highlighting the city's strong financial position, good internal controls, and positive general fund performance. Discussions included the need to adjust storm water utility rates to meet debt service coverage requirements, with a rate increase anticipated in the coming months. The committee approved the issuance of a Request for Proposals (RFP) for professional design services to address structural and water intrusion deficiencies at the Portage County Library downtown location, aiming to better understand potential renovation costs. Additionally, the committee approved an initial resolution for an industrial revenue bond to support Firecrest Aerospace's project, which will create 125 jobs and involve tax-exempt financing without city liability. They also approved a state municipal financial agreement for pavement replacement on State Highway 66 and discussed plans for early closure and housing extension of Tax Increment Financing District 8. The meeting concluded with approval of claims paid and a lease agreement related to the former W Credit Union building.