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CC Regular Session <br />Meeting Date: 08/13/2013 <br />By: Diana Lund, Finance <br />Information <br />4. 16. <br />Title: <br />Report from the Finance Committee - July 16, 2013 <br />1) Nominate Chair & V-Chair for Committtee - Reify recommendation of FC and appoint Councilmember Riley as <br />Chair and Councilmember Le7ourneau as V Chair <br />2) Review of 2012 Comprehensive Annual Financial Report - Presented for Discussion <br />3) 2014 Preliminary Budget Updates No Action Necessary <br />Background: <br />Three items of business were presented to the Finance Committee: <br />Item #1: Nominate Chair for Finance Committee: The Finance Committee motioned for Chris Riley to be <br />nominated as Chair and John LeTourneau as Vice Chair. <br />Item #2: Review of 2012 Comprehensive Annual Financial Report (CAFR): The Finance Committee discussed <br />the report and the committee made recommendations of how they would like to see the data presented to the public <br />in regard to the financial health of the city. <br />Item #3: 2014 Preliminary Budget Update: An update was given on where the city is in the 2014 budget process in <br />regard to overall budgets, levy limits, and tax rates. Committee made the recommendation to have staff update the <br />public at a future city council meeting on the overall budget process. <br />Recommendation: <br />Ratify the recommendations of the Finance Committee. <br />Council Action: <br />Ratify the recommendations of the Finance Committee. <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 08/03/2013 12:00 PM <br />Fonn Started By: Diana Lund Started On: 07/23/2013 03:32 PM <br />Final Approval Date: 08/03/2013 <br />