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<br />~ <br />~~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />April 24, 2007 <br /> <br />4D <br /> <br />TO: Honorable Mayor and City Council <br />Michelle Wolfe, City Administrator <br /> <br />FROM: Sue Iverson, Finance Director ~U-J <br /> <br />SUBJECT: Formation of the Financial Planning and Analysis Committee (FPAC) <br /> <br />Backgrouud/Discussiou: <br /> <br />At the February 20th Council Work Session, the Council discussed the formation of a Financial <br />Planning and Analysis Committee. Council defined the Mission/Purpose of this committee and <br />listed specific outcomes. Specific objectives are to be made by the committee itself to achieve <br />the expected outcomes listed by the City Council. Membership and Council Staff liaison <br />appointments were also discussed. <br /> <br />At the March 12'h Council meeting, Council approved the formation of the Financial Planning <br />and Analysis Committee, directing staff to advertise for individuals to serve on this committee. <br />Five applications have been received and reviewed for appointment for this committee. <br />Councilmember Grant has reviewed these applications as part of the process. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends approval of Resolution 07-47, a resolution appointing the Financial Planning <br />and Advisory Committee. <br /> <br />