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Finance oversight committee reviews quarterly finances; director seeks clearer interest and approval-date detail
Summary
The finance oversight committee reviewed quarterly financial summaries, cash and investment holdings, O&M and CIP expenditure status and certifications. Director Barrett requested additional columns showing interest rates and the dates budget approvals were made for CIP items.
Director Newquist summarized the finance oversight committee's Feb. 10 meeting, noting reviews of the quarterly financial summary memo, cash and investment holdings, O&M expenditures, capital improvement project status and investment certification; the committee recommended confirming and approving the packet items.
Director Barrett asked staff to add more detail to the financial charts—specifically the interest rates each account generates and an additional column showing the date budgets were approved for CIP items—so the board can more quickly trace approvals. "In that chart, I'd like to see the interest rates," Barrett said. Staff agreed to provide the requested breakdown in the next report.
