Budget & Finance Committee Meeting Monday, July 7, 2025

Budget and Finance Committee · July 7, 2025

0:00/8m

8:00

0:00

2:00

4:00

6:00

8:00

Year-end financial status and PO closeout process

Presentation

0:13 → 1:50(1m 37s)

Staff (Speaker 1) said financials were distributed in prior weeks, reported the city is seven days from year-end and working on audit and pre-audit tasks, and explained a new process: every single purchase order was closed on June 30 and then reopened rather than using rolling encumbrances; staff said the blanket PO resolution is on tonight's agenda and that finance reviewed every line item and vendor to ensure appropriateness.

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Actions:blanket po resolution

Committee finance staff reviewed year-end closing procedures, introduced the citys external auditor and audit timetable, and noted a small unpaid invoice that must be recorded to the prior fiscal year; a blanket purchase-order resolution appears on the agenda.

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Transcript

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