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Finance committee sets May schedule for midyear budget review; auditors aim to complete by April 30
Summary
The Finance Committee agreed to carry the midyear budget review to the first committee meetings in May and heard that the city's annual financial and single audits are scheduled for completion April 30.
The Homewood Finance Committee agreed to carry its midyear budget review and to aim for the committee meeting on May 7 for presentation of a midyear report covering the five months ending February.
Staff said they are still closing year-end activity and proposed providing a midyear report through February, with a target delivery in early May. Committee members emphasized the city should meet its fiscal policy requirement for a six-month review even though the report is overdue.
Separately, staff reported that auditors have a meeting scheduled and the city's financial and single audit has a target completion date of April 30. Staff noted that audit timing depends on how quickly the city provides year-end information to the auditors and that the June 30 federal single-audit submission deadline remains a key milestone for any single-audit requirement.
The committee carried the midyear review to the May meeting and asked staff to confirm availability within 24–48 hours.
