At the Nov. 25 council workshop, Aaron (finance staff) updated council on the city’s audit process. He said Cherry Beckert has been engaged to assist and that the audit firm Weaver has received trial balances and will complete the audit work; staff said a finished audit is expected in December or January.

Aaron proposed forming an audit and investment committee — a small advisory body (five to seven members) composed of accounting professionals and possibly councilmembers — to meet quarterly and provide oversight on audits, internal controls and financial reporting. He said such a committee would provide an extra compliance check to help prevent future late audits. Councilmembers supported the idea and asked staff to set meetings with the city’s bond advisor and rating agencies (Moody’s, S&P) once the audit is final.

Why it matters: timely, complete financial audits are material to the city’s transparency and to credit‑rating reviews required for bonds and financing.

Next steps: staff said Weaver and Cherry Beckert will attend the Dec. 9 meeting for more detailed discussion; staff will coordinate with the city’s financial advisor about scheduling rating‑agency interviews after the audit is final.