City Council Meeting Date: April 7, 2026
To: Mayor and Members of Council
From: Ben Martig, City Administrator
Brenda Angelstad, Finance Director
Title
Discuss Establishing an Ad Hoc City Investment Policy and Cash Management Advisory Committee.
Body
Action Requested:
Discussion only.
If the Council expresses interest in pursuing the Ad Hoc City Investment and Cash Management Advisory Committee, a resolution (working draft attached for feedback) will be placed on the April 21, 2026 City Council agenda for approval.
Summary Report:
Mayor Zweifel is proposing a temporary Ad Hoc City Investment and Cash Management Advisory Committee to be established in a temporary role 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 Committee's scope will not be related to budget, capital improvement planning, capital projects or other financial policies.
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 ensure they remain current, effective, and aligned with the City's financial goals.
Specifically, the City seeks to enhance its approach to investment earnings within prudent risk parameters, strengthen overall cash management practices, and ensure policies clearly reflect the City's risk tolerance and liquidity needs. Additionally, a thoughtful review of these practices may support improved financial positioning, including maintaining or enhancing the City's creditworthiness and bond rating, while reinforcing strong stewardship of public reso...
Click here for full text