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Committee recommends two-signature rule and tighter review for CD withdrawals
Summary
At its March 10, 2026 meeting the Committee to Investigate City Financial Situation said future withdrawals from certificates of deposit and earmarked savings should require two signatures and committee review, and asked the city accountant to appear at the next meeting to clarify past records.
The Committee to Investigate City Financial Situation on March 10, 2026 reached a consensus that future withdrawals from certificates of deposit and savings earmarked for specific departments should require two signatures and prior committee review, members said.
The committee agreed the two signatures should be a combination of the city clerk or treasurer and either the mayor or the president of the Common Council as a control on future disbursements. Members also said any future withdrawal earmarked for a department should be presented first to that committee and to the finance committee; any advance on the city’s line of credit should go before the finance committee and be approved by the full council before the advance is made.
Marie Anderson, an invited speaker, told the committee she recalled that the accountant’s letter was provided to the council in December 2023. Chair Richard J. Dufour and member Marilyn Merrill questioned Anderson and noted that many details about the use of CD funds would likely need to come from former City Clerk/Treasurer Liz Calnin, who was referenced by the panel.
Committee members reported that no additional financial records had been received to clarify the use of the CD or savings accounts. Marilyn Merrill said the city accountant appeared before the council in September 2025 but that the reports were delivered only shortly before that appearance, which she said made it difficult for council members to develop informed questions. The committee recommended that accountant reports be distributed at least one month in advance of any appearance so members have time to prepare.
During public comment Maureen Krivanek raised the December 2023 accountant letter; Karlene Uttke urged the council to scrutinize cash flow and to define what constitutes a “short-term” loan; and Dannielle Pierce questioned why council members had not earlier inquired about the issues. In response, the committee asked for the accountant to attend the next meeting to provide clarification and additional records.
The panel set a follow-up meeting for April 14, 2026, at 6:30 p.m. William Faulkner moved to adjourn at 7:42 p.m.; Marilyn Merrill seconded and the motion passed.
