Remember how Councilwoman Lyn Hellegaard said she’d like to hear a financial report from the mayor on a quarterly basis? Well, hot dog, the City of Missoula Charter requires it.
Under Article III Section 5, the Charter talks about how the mayor administers the affairs of the city. “Once every three months, the Mayor shall make a full and complete statement of the financial conditions of the City to the City Council.”
Geoff Badenoch, who helped draft the document and wants to read more about it here, noted that tidbit.
The finance director says an update from the mayor to council is on its way — but in the meantime, Councilman Bob Jaffe covered the annual audit in his weekly report:
In A&F we had the presentation of our annual financial audit. Highlights are that our fund balance (savings account) is getting low and there were a few minor screw ups in preparing the numbers this year. The mistakes were not of significance and were related to Brentt going into surgery and having new staff at the time they were preparing things for the audit. But overall we still have our AA- bond rating and an S&P rating of “Strong.” My interpretation is that we are still in really good financial shape but are approaching not so good territory. Considering what has been going on in the economy in the last year or so that is still a pretty good place to be but we need to be concerned.
All sorts of details and charts and numbers can be found here:
— Keila Szpaller