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Item # 9.

Work Session and Regular Meeting

Meeting Date:	08/28/2018
Department:	City Manager
Pillars:	Gold Standard in Financial Health

AGENDA CAPTION:

Consider Action to Approve the Quarterly Update from the Finance Committee to the City Council for the Period from April 2018 to June 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 make recommendations to the City Council regarding the following matters:

Quarterly financial reports
Comprehensive financial annual 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 any 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 from April 2018 to June 2018.

RECOMMENDATION:

Administration recommends approval.

Attachments
Finance Committee Quarterly Report - April-June 2018