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<br />" <br /> <br />~ <br />~~HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />February 20,2007 <br /> <br />Agenda Item 2.A.2 <br /> <br />TO: Honorable Mayor and City Council Members <br /> <br />FROM: Michelle Wolfe, City Administrator~ <br />Sue Iverson, Finance Director :}iJ <br /> <br />SUBJECT: Formation of the Financial Planning and Analysis Committee (FPAC) <br /> <br />Background/Discussion: <br /> <br />Attached are draft guidelines and a Mission/Purpose for a proposed Financial Planning and <br />Analysis Committee. Council discussion is required to clarify the expected outcomes and <br />specific objectives of this committee. Discussion is also needed regarding membership and <br />Council/Staff liaison appointments. <br /> <br />Staff Recommendation: <br /> <br />Staff is requesting City Council feedback and direction about the formation, purpose, mission, <br />and specific objectives of this committee. Staff recommends that this committee review <br />financial policies as a resource to staff and the City Council. If Council is comfortable, staff will <br />finalize the attached guidelines for approval at a future Council meeting. Once Council approves <br />the guidelines and the proposed Ordinance 385 (relating to boards, committees, commissions, <br />and appointed bodies), staff can proceed with the recruitment process for this committee. <br />