Talent — On Nov. 20 the Talent City Council adopted Resolution 2024‑104‑R, establishing a comprehensive financial management policy that staff said is required to qualify for Community Development Block Grant (CDBG) funding.

Finance Director Tessa told the council the draft was adapted from prior work and includes objectives such as guiding fiscal decisions, minimizing financial risk, setting revenue policies, and providing transparency. Staff noted the policy is not fully complete — an investment policy and a few other items remain to be added — and that 2 CFR part 200 (federal grant rules) language was included to meet CDBG requirements.

Councilors supported adopting the policy to meet the grant deadline but raised questions about prescriptive elements such as the six-month operating reserve standard and the conditions on council discretionary funds. Members asked staff to soften wording where appropriate, framing benchmarks as aspirational rather than mandatory. Councilor Byers made a motion to adopt the resolution and include a plan to hold a study session before May 2025; the motion passed unanimously on a roll-call vote.

Staff said the adopted policy will be reviewed annually and that specific benchmarks can be adjusted later after study and public discussion. The resolution allows the city to meet CDBG requirements while giving council time to refine the policy in scheduled study sessions.