Finance Committee Agenda and Packet 2025 05 15

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City Council Finance Committee Meeting Minutes April 17, 2025 Page 5 of 5 The Director of Finance thanked the Finance Committee for their support on the purchasing policy improvements, noting that staff have been very appreciative of this improvement, and it is already saving staff time. The 2024 City external audit begins 4/28 and will run through May. There will be a presentation to the Finance Committee in July. The Finance Department is working on an RFP for the city's future auditors soon. Responses will be presented to the Finance Committee this summer, for Council's consideration subsequently. Finance staff have recently been evaluating sales tax administration and compliance software to increase efficiency and replace manual processes with automation. This may come before City Council as a future budget request to continue the Division's momentum and recent successes. Closina Ouestions/Comments from the Committee: Councilmember Hoefner asked for the Parks Long Term Forecast / Structural Issue item to be moved on the Work Plan. The Director of Finance will move this item to reflect the new schedule. Councilmember Cooperman asked if there are any concerns about overloading the June meeting by moving the Parks Fund discussion. The Director of Finance responded that there should be time for everything on the agenda. Councilmember Hamlington asked when the Finance Committee can expect an update on the Marshall Fire plan review and permit fee options to get rough estimates. She commented that she is hoping to have a general idea of when that information will come on the agenda for review by Finance Committee. The Director of Finance responded that we don't have a date at this time as the new City Manager is in the process of being brought up to speed. The Deputy City Manager commented that the new City Manager will be updated on this item as quickly as possible. Councilmember Hamlington commented that it would be helpful to receive this information at the end of Q2 or mid-Q3 as residents are looking at Finance Committee agendas to know when this topic will be addressed. The Deputy City Manager responded that an update will be provided in the Council Weekly Updates. Items for the Next Regular Meeting, scheduled for May 15, 2025, 4:00-6:00 PM: • Review of Fiscal/Reserve Policies • Exploration of Potential New Revenue Sources for City Major • Capital Items • Q1 Financial Reports • Q1 Revenues & Sales Tax Reports and Bag Tax Update • Q1 Cash and Investments Report • Parks Long Term Forecast / Structural Issue — moved to June 12 meeting Adjourn: Councilmember Hamlington made a motion to adjourn. Councilmember Cooperman seconded the motion. The meeting adjourned at 4:56 PM 7/107