Finance Commission

8/10/2021 - Minutes I. Call to Order Members Present: Jean Szilva, Shelden Goodwin, Matthew Francis, Jason Burds City Staff Present: Finance Director Angela Aldieri, Mayor Kristine Lott, Co-Interim City Manager Phoebe Townsend T Guests Present: Alexander Anastasi-Hill Call to Order by: Jean Szilva F Meeting Start Time: 5:32 PM Minutes Recorded by: Angela Aldieri A II. Public Comment None III. Approve Previous Meeting Minutes R Decision: Approved Motion by: Matthew Francis D Second: Shelden Goodwin IV. Council Update The Mayor updated the commission on the City Manager search indicating that interviews for candidates would be held at the end of the month with public presentation in mid to late September. She also gave updates regarding grant funding being sought by the City to fund major projects. V. Approval: Elect Officer – Secretary Decision: Approved Motion by: Matthew Francis Second: Sheldon Goodwin Matthew Francis volunteered to serve as the commission secretary at future meetings. VI. Discussion: Use of ARPA Funding Staff and Council representatives presented the information known about ARPA funding. Discussion followed about what information the City needs in order to make decisions about how to use this funding, what the commission members saw as needs in the community, and the values that the commission members wanted to see applied to the decisions about funding use.  Staff and Council representatives presented the information known about ARPA funding. Discussion followed about what information the City needs in order to make decisions about how to use this funding, what the commission members saw as needs in the community, and the values that the commission members wanted to see applied to the decisions about funding use. VII. Approval: Investment Policy Decision: Approved Motion by: Matthew Francis T Second: Shelden Goodwin Staff reviewed the changes that were made to the policy based on prior commission feedback. F VIII. Approval: Capital Improvement Policy Decision: Approved Motion by: Matthew Francis A Second: Shelden Goodwin Staff reviewed the changes that were made to the policy based on prior commission feedback. R IX. Discussion/Approval: Debt Policy Decision: Approved Motion by: Matthew Francis D Second: Shelden Goodwin Staff presented the policy to the commission. Discussion around appropriate levels of debt occurred. Commission consensus was that recommendations were acceptable X. Adjourn Motion by: Matthew Francis Second: Jason Burds Meeting End Time: 6:33 PM