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Staff: financial management policies to go to council closer to budget season
Summary
Staff told the Finance Committee that the financial management policies have been edited substantially but will not be formally adopted now; they will be presented to council nearer the budget cycle when minimum thresholds are finalized.
Staff told the committee that the financial management policies have undergone significant edits and that the item will remain on the committee's radar but not be formally adopted at this meeting. "They go before council until a little bit closer to budget time as we're reevaluating where we think the minimum should be exactly," staff said, noting additional refinements are anticipated.
Staff asked the committee to remain aware of the item and indicated they expect further review and finalization of minimum reserve thresholds ahead of the formal council presentation. The committee thanked staff for the work and did not take a formal adoption action at the committee level; instead the committee recommended the draft tax policy to council and kept the financial management policies under continuing review.
