1 Finance Subcommittee Meeting Draft Action Minutes
Meeting Date: February 13, 2025, 3:00 p.m.
Location: Police/Fire Community Room
Recording Secretary: Helga Foushanes
In Attendance: Tim Lilligren, Treasurer
Amy Howorth, Mayor
David Lesser, Mayor Pro Tem
Talyn Mirzakhanian, City Manager
Onyx Jones, Interim Finance Director
Julie Bondarchuk, Financial Controller
Libby Bretthauer, Financial Services Manager
Emy-Rose Hanna, Revenue Services Supervisor
Amira Khodari, Accounting Supervisor
Called to Order: 3:00 p.m. by Treasurer
Tim Lilligren
Agenda Item # 1 – Public Comments
None.
Agenda Item # 1- Approval of Minutes from January 16 , 2025, Finance S ubcommittee Meeting
The Finance Subcommittee approved the minutes of the January 16, 2025, meeting.
Agenda Item # 2 – Presentation of Fiscal Year 2023 -2024 Draft Annual Comprehensive Financial Report (ACFR)
Staff presented the draft ACFR and audit results. The City received an unmodified opinion on the FY 2023-2024 financial statements, which is the best possible outcome. The audit resulted in a finding for the year-end process with a recommendation from the auditors to increase staffing dedicated to the year-end close process. Two representatives from the audit firm Lance, Soll and Lunghard, Kelly Telford (in person) and Christian Townes (remotely), also delivered a presentation about the audit.
Agenda Item # 3–Business License Program Update
Staff informed the subcommittee that the roll out of the on-line business license renewals was a great success. The City took in $286,000 the first week, a 79% increase and received positive feedback. Staff will forward briefing notes to full City Council that include the total number of B/L renewals and the dollar amount collected.
Agenda Item # 4 –– Investment Portfolio for December 2024 Information Item only.
2 Agenda Item #5 - Month-End Financials for December 2024 Informational Item only.
Agenda Item #6 –Fiscal Year 2024 -2025 Monthly Schedule of Transient Occupancy Tax, Lease Payments and Miscellaneous Accounts Receivables
Informational Item only.
Adjournment
The meeting adjourned at 3:55pm to next meeting March 6, 2025, 10:00am, City Manager Conference room.