Finance Policy Subcommittee Meeting Date: March 26, 2025
To: Finance Policy Subcommittee
From: Ben Martig, City Administrator
Title
Review of Finance Policy Committee Role
Body
Action Requested:
The Northfield City Council Finance Policy Committee is being asked to review the roles and consider recommendation to Council on amendment to review the bonding pre-review clause.
Summary Report:
The Northfield City Council Finance Policy Committee was established to review the City financial policies. Staff is suggesting to delete the bonding pre-review clause. The full Council receives the reports directly and this clause hasn’t been used.
Specific audit, budget and other special financial review would be done at the council level. We can discuss any areas of interest for discussion at the committee to determine if they are policy related to review this year. Or, if other financial area interests we can cover to discuss to review further with the full City Council.
Alternative Options:
N/A
Financial Impacts:
N/A
Tentative Timelines: