Finance and Taxation Committee

CITY OF MONROE FINANCE AND TAXATION COMMITTEE MINUTES DATE: TUESDAY, MAY 26, 2026 TIME: 5:05 PM PLACE: CITY HALL COUNCIL CHAMBERS - 1110 18TH AVE A. CALL TO ORDER AND ROLL CALL The Finance & Taxation Committee meeting was called to order on Tuesday, May 26, 2026, at 5:18 PM. Present in person were Heidi Treuthardt, Dylan McGuire, Richard Thoman, and Matt Sheaffer. B. CORRECTION OF MINUTES - MAY 11, 2026 The minutes from May 11, 2026, were accepted as presented. C. BUSINESS: OPEN 1. Discussion and Possible Action Regarding the City of Monroe Comprehensive Finance Policy Section 5.8 Fund Balance Policy Administrator Rindy spoke regarding the fund balance policy language that was discussed during the audit conducted by Baker Tilly. The policy is intended to maintain or commit 25% of operational expenditures as a rainy-day fund. He noted that Baker Tilly recommends maintaining approximately 16.7%. The proposed change would keep the City’s 25% requirement while clarifying that the percentage is based on operational expenditures. Discussion also included amending the policy date to reflect the revision. A motion was made by Thoman, seconded by Sheaffer, to approve and recommend to Common Council. The motion passed 4-0, by the following vote: AYES: Heidi Treuthardt, Richard Thoman, Matt Sheaffer, Dylan McGuire NOES: None ABSENT: None  ABSTAINED: None D. BUSINESS BY MEMBERS E. ADJOURNMENT A motion was made by Sheaffer, seconded by McGuire, to adjourn at 5:23 PM. The motion passed 4-0, by the following vote: AYES:Heidi Treuthardt, Richard Thoman, Matt Sheaffer, Dylan McGuire NOES:None ABSENT:None ABSTAINED: None This Committee may take any action it considers appropriate related to any item on this agenda.