Finance Commission

3/9/2021 - Minutes I. Call to Order Members Present: Jean Szilva, Matt Francis, 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: N/A Call to Order by: Jean Szilva Meeting Start Time: 5:34 PM Minutes Recorded by: Susan Eddy II. Public Comment None. III. Approve Previous Meeting Minutes Decision: Approved Motion by: Matt Francis Second: Susan Eddy IV. Council Update Mayor Lott’s Council update included welcoming Byrn Oakleaf, the newly elected council member. City staff and the council have begun the process of hiring a city manager. It is expected that the position will be filled by August 2021 and an interim manager will be appointed when the position becomes vacant on May 15, 2021. The FY 22 budget was approved by a large margin of voters. V. Approval: Elect Officer – Vice Chair Decision: Approved Motion by: Matt Francis Second: Jean Szilva Sheldon Goodwin was nominated and named the Vice Chair. VI. Discussion: Treasurer Report Visuals The FC received an update about the progress made for the treasurer report including visuals and offered some suggestions. VII. Discussion/Approval: Accounting, Auditing, and Financial Reporting Policy Decision: Approved Motion by: Steven Berbeco VII. Discussion/Approval: Accounting, Auditing, and Financial Reporting Policy Decision: Approved Motion by: Steven Berbeco Second: Sheldon Goodwin The FC reviwed the policy revised to reflect our comments and suggestions in the previous meeting. The changes were deemed acceptable and the draft policy was approved by the FC. VIII. Discussion/Approval: Balanced Budget and Budget Management Policy Decision: Approved Motion by: Steven Berbeco Second: Sheldon Goodwin The FC reviwed the policy revised to reflect our comments and suggestions in the previous meeting. The changes were deemed acceptable and the draft policy was approved by the FC. IX. Discussion/Approval: Employee Financial Responsibility Policy Decision: Approved Motion by: Steven Berbeco Second: Matt Francis The FC reviewed the draft policy presented by City Staff, suggested some minor changes, and approved the draft policy to move forward. The FC reviewed the draft policy and suggested some changes. Changes will be implemented by Staff and the policy will be brought back to the FC for review. X. Adjourn Motion by: Matt Francis Second: Sheldon Goodwin Meeting End Time: 6:20 PM