Finance Commission

2/9/2021 - Minutes I. Call to Order Members Present: George Cross, Jean Szilva, Matt Francis, Maurice Matte, Steven Berbeco, Susan Eddy, Sheldon Goodwin City Staff Present: Mayor Kristine Lott, City Manager Jesse Baker, Finance Director Angela Aldieri, Treasurer Alex Anastasi-Hill Guests Present: Bryn Oakleaf, James McCormick Call to Order by: Jean Szilva Meeting Start Time: 5:32 PM Minutes Recorded by: Susan Eddy II. Public Comment James McCormick running introduced himself as a candidate for City Council III. Approve Previous Meeting Minutes Decision: Approved Motion by: Steven Berbeco Second: George Cross IV. Council Update Mayor Lott updated the commission on the progress of the other commissions, the items that will be on the upcoming ballot including retail cannabis and the F35s. The development group has a new proposal for the downtown hotel. V. Approval: Elect Officer - Chair Decision: Approved Motion by: George Cross Second: Steven Berbeco VI. Discussion/Approval: Fund Balance Reserve Policy Decision: Approved Motion by: Steven Berbeco Second: Matt Francis The FC reviewed the changes made to the Fund Balance Reserve Policy based on our comments and suggestions in the previous meeting. The changes were deemed acceptable and the Policy was approved to be moved on legal review.  Second: Matt Francis The FC reviewed the changes made to the Fund Balance Reserve Policy based on our comments and suggestions in the previous meeting. The changes were deemed acceptable and the Policy was approved to be moved on legal review. VII. Discussion/Approval: Accounting, Auditing, and Financial Reporting Policy The FC reviewed the draft policy and suggested some changes including input of on method and frequency of presenting periodic financial information to City Council and the public. Changes will be implemented by Staff and the policy will be brought back to the FC for review. VIII. Discussion: FY22 Budget Presentation Material Mayor Lott and City Manager Baker presented the slides of the FY22 Public Presentation of Budget. The FC made suggestions about some suggestions about the information that should be highlighted. IX. Adjourn Motion by: George Cross Second: Matt Francis Meeting End Time: 6:34 PM