Laserfiche WebLink
<br /> <br />Request for Action <br /> <br /> <br />To Item Number <br />Mayor and City Council 4.9 <br />Agenda Section Meeting Date Prepared by <br />Consent June 17, 2019 Lori Ziemer, Finance Director <br />Item Description Reviewed by <br />Financial Management Policies Update Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Approve, by motion, the updated financial management policies. <br /> <br />Background/Discussion <br />Annually staff reviews the financial management policies and provides recommendations to Council for <br />updates. <br /> <br />The current updates are highlighted in red in the attached financial management policies and consist of <br />the following changes: <br /> <br />Purchasing – Pages 13-15: <br /> Purchasing authority language updated. <br /> Purchasing thresholds updated increasing the purchase order requirement from $5,000 to $25,000 <br />based on purchasing best practices. <br /> Competitive bidding threshold updated from $100,000 to $175,000 based on law passed in 2018. <br /> <br />Public Purpose Expenditures – Page 20: <br /> City logo clothing allowance up to $75 per year for councilmembers added. <br /> <br />Expense and Travel Reimbursement – Page 23: <br /> Clarification of the per diem meal reimbursement on the first and last days of travel. <br /> <br />Financial Impact <br />N/A <br /> <br />Attachments <br /> Updated financial management policies <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />