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Committee agrees to forward amended financial management policy after scrivener fixes and COBRA removal
Summary
The Snoqualmie Finance & Administration Committee voted to send an amended financial management policy to the City Council after agreeing to strike an obsolete 'whereas' clause and remove a fiscal-impact COBRA table; the policy updates purchasing thresholds to align with recent RCW changes and centralizes fund authorizations.
The Finance & Administration Committee on Dec. 8 agreed to forward an amended financial management policy (agenda bill 25089) to the full Snoqualmie City Council after fixing residual language and removing an obsolete COBRA cost line.
Staff said the proposed policy would clarify petty cash procedures, harmonize surplus-of-assets language with Revised Code of Washington (RCW) 35.94.040, update public-works purchasing thresholds to match recent changes to RCW 35.23.0352 that took effect on June 30, 2024, and consolidate the city’s fund authorizations into a single document to simplify future municipal-code cleanup. "This proposed amended financial management policy would clarify and outline procedures for petty cash and would also harmonize the surplus of assets, with RCW 35.94.040," the presenter said.
A committee member flagged two leftover items from an earlier draft: a "whereas" clause that referenced severance agreements and a fiscal-impact line showing 12 months of COBRA cost. The committee moved to strike the clause and remove the COBRA table. The chair estimated removing the COBRA line reduced the stated fiscal impact by roughly $30,000 and directed staff to recalculate the totals.
Councilmember Kara asked about bond-rating language in section 7.4; staff confirmed the "double A" phrasing remained as previously drafted and can be updated if the city's rating changes. Committee members emphasized the amendment itself would not create or delete funds, but would centralize the administrative place where fund authorizations are recorded so future changes occur in one location rather than being scattered across the municipal code.
With those edits and scrivener fixes accepted, the committee concurred to move the amended policy forward to the full council for final consideration.
