Finance Committee Agenda and Packet 2025 04 17

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City Council Finance Committee Meeting Minutes March 20, 2025 Page 2of6 Councilmember Cooperman asked what LGIP stands for. It stands for Local Government Investment Pool. He also asked how diverse this fund is. The Chandler Team described the diversity of the fund and the laws governing what the City is allowed to invest in. Councilmember Cooperman asked what City funds are invested. The Director of Finance described what funds are invested to generate returns. Public Comments: None. 2024 Year End Cash and Investments Report: The Director of Finance presented the 2024 Year End Cash and Investments Report. The documentation was included in the meeting packet. Committee Comments: Councilmember Cooperman asked where the financial policy is located. The Director of Finance responded that it is located on the City's website. Councilmember Hoefner commented that the financial policy is adopted by resolution. Public Comments: None. Monthly Revenue and Sales Tax Reports: The Sales Tax Auditor presented the Monthly Revenue and Sales Tax Reports to the committee. The reports were included in the meeting packet. Committee Comments: Councilmember Hamlington expressed appreciation to the Tax Auditor for addressing the difference between this and last year's numbers in her presentation. Councilmember Cooperman asked about the grocery industry in particular. The Tax Auditor responded with an explanation of the data related to that industry. Public Comments: None. Warrant List Procedural Improvement: The Interim Accounting Supervisor presented a proposed procedural improvement to the committee for approval. The presentation was included in the meeting packet. The committee approved the proposed procedural changes with the addition of communications being sent to the community about the change as well as emails to City Council when warrant batches are posted. Committee Comments: 4/69