Finance Committee

MINUTES FINANCE COMMITTEE FEBRUARY 22, 2021 The meeting of the Finance Committee was called to order by Gabe Allen on February 22, 2021 at 4:02 p.m. by telephone or video conference in order to advance the public health goal of limiting face-to-face meetings (also called “social distancing”) to slow the spread of the Coronavirus (COVID-19). Present at the meeting were Gabe Allen, Hank Dugie, Zak Kone, Tracy Jacobs, Peggy Zahler, Nick Long, Kristine Polian, Michelle Villarreal, Brandi Hamilton, Candace Brown, Edward Sellar, Angie Steelman, and Ann Williams. Approval of minutes from the November 16, 2020 Meeting Peggy Zahler made a motion to waive the reading of the minutes and to approve the minutes as presented. Tracy Jacobs seconded the motion. The motion passed, all-in-favor. Citizen Comments There were no citizen comments. 1st Quarter Budget Amendment Angie Steelman presented the 1st Quarter Budget Amendment for FY21. There were a few questions from members, and a brief discussion ensued. Audit Plan Review Candace Brown, Internal Auditor, presented her Audit Plan. There were several questions about prioritization of audits, deadlines, and quarterly progress reports. Lengthy discussion ensued. Candace also asked the Committee if they would like to choose any additional alternate audits in the case that there is extra time to complete them. Peggy Zahler would like to see an audit of Wire Transfer Procedures. Gabe Allen would like an audit of Utility Billing. Discussion – Finance Committee Roles and Responsibilities Kristine Polian began the discussion by saying that the Mayor brought to City Council to consider and independent Audit Committee outside of the Finance Committee. Council decided that the Finance Committee could handle that role. Council charged staff with the responsibility of looking at the ordinance and identifying if it was robust enough and making changes to allow the Finance Committee to handle the Audit role. Michelle Villarreal, Deputy City Attorney, went over Chapter 2, Division 3 of the Code of Ordinance. This section has been referred to as the Charter for the Finance Committee. Michelle went over the section that clarifies the committee’s role as it pertains to the Internal Auditor and the Internal Auditor’s duties. She advised that the ordinance is written in such a way that it is sufficient for the Finance Committee to be responsible in an advisory role over the Internal Auditor and explained the implementation of the City Auditor’s plan is done through the City Manager. There were several questions and lengthy discussion ensued. Hank Dugie asked Candace Brown and Michelle Villarreal to get together and work out any changes and additional language that may be necessary to the ordinance and bring it to the next Finance Committee meeting for discussion. Presentation – Certificate of Achievement for Excellence in Financial Reporting Kristine Polian presented the Certificate of Achievement for Excellence in Financial Reporting to the committee. She explained that this is the 42nd year in a row that the City has received this award and that it is part of the CAFR. March Meeting Schedule Change – Discussion Next meeting is scheduled for March 15, 2021. This date falls during Spring Break for the School District. The committee decided to change the meeting to March 22, 2021. Consider and Take Action to Excuse Absences There was no action Staff Comments There were no staff comments. Committee Member Comments There were no committee member comments. Adjournment Nick Long made a motion to adjourn. Tracy Jacobs seconded the motion. The meeting was adjourned at approximately 5:35 p.m. ________________________________________ Chairperson