City Council Meeting Date: April 21, 2026
To: Mayor and Members of Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Consider Resolution Establishing an Ad Hoc City Investment Policy and Cash Management Advisory Working Group.
Body
Action Requested:
Approve a resolution approving establishing an Ad Hoc City Investment Policy and Cash Management Working Group.
*Please note, this group was proposed in the April 7th agenda item as a "committee". After consultation with the city attorney, staff proposes using the term "working group" instead to better align with the scope, goals, and makeup of the group as well as in consideration of ordinance language related to use of the term "committee" in the context of Council membership (none on this working group).
Summary Report:
At the April 7, 2026 City Council meeting, the Council discussed establishing a temporary Ad Hoc City Investment and Cash Management Advisory Working Group to be established to review the current City Council City Investment Policy and Fund Balance Policy and related practices and provide recommendations for consideration by the City Council. This Working Group's scope will not be related to budget, capital improvement planning, capital projects or other financial policies.
There was positive feedback from the City Council. Therefore, this was added for consideration under the consent agenda. Mayoral appointments to the working group are included in a separate item on this meeting's consent agenda.
Problem Statement / Purpose for Consideration
The City of Northfield is entrusted with managing public funds in a manner that ensures safety, liquidity, and appropriate return while maintaining transparency and accountability to the community. As financial markets, regulatory frameworks, and public finance best practices continue to evolve, there is an opportunity to review the City's existing investment and cash management policies and practices to e...
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