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City Council Finance Committee <br />Meeting Minutes <br />05/17/21 <br />Page 2 of 4 <br />APPROVAL OF THE MINUTES FROM THE APRIL 19, 2021 MEETING <br />The Finance Committee approved the April 19, 2021 minutes as presented. <br />NEW MEMBER ORIENTATION — REVIEW OF PURCHASING POLICY <br />Kevin Watson, Director of Finance, presented a presented an overview of the <br />City's Purchasing Policy. Specific items covered included bid/form/approval <br />requirements based on purchasing levels, purchase requisition/orders, sole source <br />purchases, local vendor preferences, emergency purchases, disposal of surplus <br />property, and the City's P-Card program. <br />Director Watson informed the Committee that amendments to the Purchasing <br />Policy would be forthcoming to Section XI — Purchasing Rules for Specific <br />Equipment. This amendment will pertain the software purchases and the use of a <br />new Data Protection Addendum. <br />The Committee and staff discussed the possibility/need to make additional <br />amendments and to possibly add this project to the Finance Committee's work <br />plan for 2022. <br />The Committee requested a future new member orientation pertaining to the <br />general issuance of debt and, specifically, what debt is currently outstanding and <br />how is the debt service paid. <br />The corresponding narrative can be located in the packet of the May 17, 2021 <br />Finance Committee Meeting. <br />SALES TAX REPORT FOR THE MONTH AND QUARTER ENDED MARCH 31, <br />2021 <br />Jeanette Longoria, Tax Manager, reviewed each section of the report and <br />summarized results of the report's tables and graphs. <br />The report and corresponding narrative can be located in the packet of the May <br />17, 2021 Finance Committee Meeting. <br />CASH & INVESTMENT REPORT FOR THE MONTH AND QUARTER ENDED <br />MARCH 31, 2021 <br />Kevin Watson, Director of Finance, presented a brief narrative and Chandler Asset <br />Management's Quarterly Report. <br />3 <br />