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Item # 16.

Council Meeting

Meeting Date:	10/13/2020
Department:	Finance
Pillars:	Gold Standard in Financial Health
Milestones:	Continuously improve processes and policies to include the voice of the customer and ensure the policies are easily accessible

AGENDA CAPTION:

Consider Action to Approve the Third Quarter Update from the Finance Committee to the City Council for the Period from April 2020 to June 2020.

BACKGROUND:

The Council Finance Committee (Committee) serves in an advisory capacity to the City Council. The Committee includes: Council Members Tom Braun, Ivan Hughes, and Marlin Willesen. The Committee reviews and makes recommendations to the City Council regarding the following matters:

Quarterly Financial Reports;
Comprehensive Annual Financial Report (CAFR);
Long-term debt capacity of the Town;
Engagement of independent accounting firms to audit the financial statements; and
Review the adequacy and implementation of an internal audit function.

The Committee meets monthly and is required to provide quarterly reports to the Council. The attached report cover topics discussed at the Committee Meetings for the third quarter of Fiscal Year 2020 from April through June 2020.

RECOMMENDATION:

Administration recommends approval.

Attachments
Finance Committee Quarterly Report: April - June 2020