## Finance Commission Agenda Wednesday, August 26, 2026 ## 6:30 PM ## City Council Chambers In accordance with Minnesota Statutes §13D.02 and City policy, Council and Commission members may attend meetings remotely up to three times per calendar year. (Times listed are approximate – please note that items may be earlier or later than listed on the agenda) 1. Roll Call - Bergquist, Dahir, Davy, Kanzenbach, Vervoort, Jeffers, Kaney, Randolph 2. Approval of Agenda ## 3. Receive Public Comment ## 4. Approval of Meeting Minutes a. Approval of meeting minutes ## 5. Business Items a. Receive and Discuss 2026 City Manager's Preliminary Budget, Levy and Scenarios ## b. 2027-2046 Capital Improvement Plan Review #2 c. 2nd Quarter 2026 Financial Report ## d. Maintenance and Operations Center Update/Discussion ## e. Finance Tracking Document f. 2026 Meeting Topics & Calendar ## 6. Commission Direction on Member Initiated Agenda Items ## 7. Other Business 8. Adjourn Page 1 of 306 ## Finance Commission 1 ## Meeting Minutes 2 DRAFT – July 14, 2026 - DRAFT 3 4 5 ## Roll Call/Announcements 6 7 The Finance Commission (FC) meeting was called to order at 6:30 p.m. Chair Kanzenbach 8 requested staff call the roll. 9 10 Commissioners Present: Sadiq Dahir, Kevin Davy, Raye Kanzenbach, Kyle Randolph, and 11 Anna Vervoort (arrived at 6:33 p.m.) 12 13 ## Youth Commissioners Present: Aldo Bergquist 14 15 ## Commissioners Absent: Commissioner Martin Jeffers and Matthew Kaney 16 17 ## Staff Present: Finance Director Sam Magureanu 18 19 20 Approval of Agenda 21 22 Commissioner Davy moved, seconded by Commissioner Dahir, to approve the July 14, 2026, 23 agenda as presented. The motion carried unanimously. 24 25 26 ## Receive Public Comments 27 28 There being no one present wishing to speak to the Commission on an item not on the agenda, 29 the Chair moved to the next agenda item. 30 31 32 ## Approval of Meeting Minutes 33 34 Commissioner Randolph moved, seconded by Commissioner Dahir, to approve the June 9, 2026, 35 meeting minutes presented. The motion carried unanimously. 36 37 38 2027 – 2046 Capital Improvement Plan Review #1 39 40 Finance Director Sam Magureanu presented the commission's first review of the proposed 2027–41 2046 Capital Improvement Plan, explaining that it is a preliminary long-range planning 42 document intended to gather the commission's feedback before the City Council considers the 43 plan later in the budget process. He reviewed the city's twenty-year capital planning approach, 44 noting that the proposed 2027 capital levy is approximately $3.08 million, with recommended 45 Page 2 of 306 ## Finance Commission Minutes July 14, 2026 – Draft Minutes Page 2 of 5 levy increases limited to the Police Vehicle and Equipment Fund and the Building Replacement 46 Fund. 47 48 Mr. Magureanu explained that this year's Capital Improvement Plan incorporates projected 49 inflation throughout the remaining nineteen years of the planning horizon. He sa…