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Item # 7.

Work Session and Regular Meeting

Meeting Date:	01/22/2019
Department:	Finance
Pillars:	Gold Standard in Financial Health

AGENDA CAPTION:

Consider Action to Approve the First Quarter Update from the Finance Committee to the City Council for the Period from October 2018 to December 2018.

BACKGROUND:

The Finance Committee (Committee) serves in an advisory capacity to the City Council. The Committee includes: Deputy Mayor Pro Tempore Tom Braun, Council Member Ivan Hughes, and Council Member 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
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 1st quarter of Fiscal Year 2019 from October 2018 to December 2018.

RECOMMENDATION:

Administration recommends approval.

Attachments
Report - Finance Committee October to December 2018