Ad Hoc Committee on Financial Policies

Columbus Ad Hoc Committee of Financial Policies Thursday, May 12, 2016 – 7:00 PM 2nd Ward Meeting Room, City Hall The Columbus Common Council Ad Hoc Committee on Financial Policies held a meeting on Thursday May 12, 2016 at 7:00 pm at Columbus City Hall. The meeting was called to order by Council President Thom and notice of open meeting was noted as posted. Present: Mayor Crombie, Council members Melotte, Reid, Rule, Thom and Traxler, City Administrator Vander Sanden, City Clerk Donahue, interested citizens and the media. Excused Royem. It was determined the quorum was met. The minutes of the committee meeting of April 14, 2016 were approved on a motion by Traxler second by Melotte. The agenda was approved on a motion by Rule second by Melotte. City Administrator Vander Sanden reported on sample financial policies and budget line-item policy, timeline, purchasing policy and investment policies. Vander Sanden asked Finance Director Manley to go through a possible budget expense line guideline. Some edits will be made to definitions and text for the next meeting. The committee reviewed purchasing policies from Columbus and other communities and discussed items to consider adding to Columbus’. Discussion will continue at the next meeting. The committee reviewed the City’s investment policy. Manley will update the information for the committee. The committee continued their general budget policy discussion. Discussion will continue at the next meeting. The next meeting will be held the second week in June after the audit is finalized. Both the general fund and the sewer audits will be reviewed at the same time. The meeting adjourned at 8:11 pm on a motion by Rule second by Traxler. Anne Donahue City Clerk