City Council Meeting Date: September 23, 2025
To: Mayor and City Council
From: Ben Martig, City Administrator
Title
Consider Resolution Eliminating the Council Finance Policy Subcommittee.
Body
Action Requested:
The Northfield City Council approves a Resolution approving the elimination of the Council Finance Policy Subcommittee.
Summary Report:
The Council Finance Subcommittee was established in 2014, and the roles and responsibilities of the subcommittee were established in 2016 through resolution 2016-102 (attachment 2).
During the recent board and commission governance and budget discussion, it was proposed to eliminate the Council Finance Policy Subcommittee among the changes discussed. Staff and members have decided this is a role that can be filled by the Council as a whole. Therefore, the Council Finance Policy Subcommittee can be disbanded.
The Finance Director will continue to provide quarterly investment reports to Council and will present to the Council on the quarterly financial reports (annual audit is one of the four updates).
Alternative Options:
Council can choose to keep the Council Finance Policy Subcommittee active, but staff does not recommend this.
Financial Impacts:
There will be no significant financial savings or costs to eliminating this Subcommittee. However, even with meeting quarterly, the Subcommittee does require staff time for preparation and post-meeting work.
Tentative Timelines:
The elimination of the Council Finance Policy Subcommittee will be effective immediately after approval of the Resolution.
Tentative Schedule
March Finance Director provides Q1 Investment Report and Financial Report to Council
June Finance Director provides Q2 Investment Report and Financial Report to Council
September Finance Director provides Q3 Investment Report and Financial Report to Council
December Finance Director provides Q4 Investment Report*
*No Q4 Financial Report will be provided due to the annual audit presentat...
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