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Finance director: city 'okay and stable'; gap audit complete and state audit to begin Monday
Summary
The finance director reported the city is stable financially, said a gap audit was completed and that the state audit starts Monday; staff urged fiscal caution amid some delayed revenues.
The finance director told council the city's finances are stable but urged continued caution and preparation for the state audit beginning Monday.
"Financially, we're okay and stable because I think we're being responsible stewards of taxpayer money by slowing down and being responsible," the finance director said, noting staff had completed a gap audit and that the state audit will start on Monday. He also reminded council that some revenues were slightly below last year's levels and that some receipts had been pushed back a month, prompting a conservative approach to spending.
Council and staff discussed bringing requested projects to committee and having the finance director attend committee meetings when major purchases are being considered to confirm feasibility and timing.
