Finance committee recommends internal control, grant and debt policy updates; backs bond reallocation and IDB interlocal

The finance committee of the Board of Mayor and Aldermen recommended several financial-policy updates and a bond reallocation during its meeting, and asked staff for follow-up analysis on debt capacity.

Ms. Holden, the city finance staff member who led the presentations, told the committee the fiscal 2025 audit has not yet been published because auditors requested additional information late last week and staff returned the requested documents. "We do not have an audit published at this point in time," she said, adding that an internal quality-control review — which she estimated takes about two weeks — would be the final step before publication.

On budget monitoring, Holden said FY26 financials were distributed ahead of the meeting and the sales-tax numbers would be updated on the dashboard after the meeting. She described overall financials as "looking pretty good," noting a strong Christmas sales-tax intake.

The committee approved two changes to the internal control manual aimed at preventing payroll delays: allowing the city administrator to designate a delegate to approve payroll when absent and…