HomeMy WebLinkAbout#12 - Finance Committee Operating Policies and ProceduresSTAFF REPORT
DATE: January 8, 2019
REGULAR
TO: Honorable Mayor and City Council
FROM: Sue Iverson – Finance Director
AGENDA ITEM: Finance Committee Operating Policies & Procedures
REVIEWED BY: Kristina Handt – City Administrator
BACKGROUND:
Staff has reviewed the Finance Committee Operating Policies & Procedures and has recommended
revisions based on changes in City staff, changes in how processes are being done, and committee
composition.
ISSUES BEFORE THE CITY COUNCIL:
1) Should the City Council to adopt the revised Operating Policies & Procedures as drafted?
DISCUSSION:
The current operating policies and procedures were adopted when the City was starting to develop
and was just starting to draft policies and look at financial projections. Staff has revised the policies
and procedures to more correctly reflect how the committee has been functioning. Staff is
recommending the committee composition be changed from 5 to 3 members with 2 alternates as the
committee has been functioning with only 3 people for the last few years and sometimes does not
have a quorum to conduct business if only 2 members are present. The Finance Committee
discussed this at its November 20, 2018 meeting as we only had two members present and we were
not able to hold a meeting. Staff and the Finance Committee recommend having 2 alternates to
continue to promote recruitment of members to this committee.
FISCAL IMPACT:
None.
OPTIONS:
1) Approve the Finance Committee Operating Policies & Procedures as drafted.
2) Amend and then approve the Finance Committee Operating Policies & Procedures.
RECOMMENDATION:
1) Motion to approve the Finance Committee Operating Policies & Procedures.
ATTACHMENTS:
1) Red-lined Finance Committee Operating Policies & Procedures