## Finance Commission Agenda Tuesday, June 9, 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. Approve minutes ## 5. Business Items a. Finalize discussion items for joint City Council - Finance Commission Meeting ## b. Maintenance and Operations Center Update/Discussion ## c. Finance Tracking Document ## 6. Commission Direction on Member Initiated Agenda Items ## 7. Other Business 8. Adjourn Page 1 of 24 ## Finance Commission 1 ## Meeting Minutes 2 DRAFT – May 12, 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: Kevin Davy, Martin Jeffers, Matthew Kaney, Raye Kanzenbach, 11 Kyle Randolph (arrived at 6:58 p.m.), and Anna Vervoort (remote) 12 13 ## Youth Commissioners Present: Aldo Bergquist 14 15 ## Commissioners Absent: Sadiq Dahir 16 17 Staff Present: Assistant Finance Director Phil Weix, and Finance Director Sam 18 Magureanu (arrived at 7:24 p.m.) 19 20 21 Approval of Agenda 22 23 The agenda was approved by general consensus. 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 Jeffers moved, seconded by Commissioner Kaney, to approve the April 14, 2026, 35 meeting minutes presented. The motion carried unanimously. 36 37 38 Review the 2025 ACFR 39 40 Ms. Peterson introduced herself as Rebecca Peterson, managing director with Redpath and 41 Company, and the city’s auditing firm. She explained that the auditors typically begin Finance 42 Commission presentations by reviewing a summary of the audit reports, then move into the 43 financial statements and discuss high-level financial information. 44 45 Page 2 of 24 ## Finance Commission Minutes May 12, 2026 – Draft Minutes Page 2 of 16 Ms. Peterson reviewed the four audit reports issued for the city’s 2025 audit. She noted that a 46 federal single audit was not required this year because the city did not exceed the $1 million 47 federal spending threshold. She explained that auditors conduct risk-based testing rather than 48 reviewing every transaction and reported that the city received a clean, unmodified audit opinion, 49 the highest level of assurance available. 50 51 Ms. Peterson also reviewed the internal control report and noted that auditors identified two 52 findings, including one related to disbursement controls. Audit…