Ways & Means Committee - Regular Meeting

Roll Call

Chairwoman Tice

Alderwoman Goad

Alderman Gould

Alderman Erger

Monthly Investment Earnings Report

The City Administrator and Director of Finance shall report monthly to the Investment Advisory Committee on the present status of the investment portfolio. Per the city's Financial Policies and Procedures Manual, the following is to be presented to the WMC every month. Attached is the earnings report YTD through February 2026. 1. REPORTING The City Administrator and Director of Finance shall report monthly to the Investment Advisory Committee on the present status of the investment portfolio. Each monthly investment report will, at a minimum, include the following: 1. The market value of the portfolio, including realized and unrealized gains or losses resulting from appreciation or depreciation. 2. Average weighted yield to maturity and duration of all portfolios as compared to applicable benchmarks. 3. Percentage of the total portfolio represented by each type of investment. 4. The rating levels for commercial paper and bankers' acceptances. The City Administrator and Director of Finance should also recommend to the committee if the commercial paper or bankers' acceptances should be held or sold in the event of a rating downgrade below the minimum acceptable rating levels. 5. Listing of individual securities held at the end of the reporting period. 6. The realized and unrealized gains or losses resulting from appreciation or depreciation by listing the cost and market value of securities over one-year duration in accordance with Government Accounting Standards Board (GASB) 31 requirements, reported annually.

Recognition of Available Funds for Investments

Recognition of Available Funds for Investments as a result of FEMA/SEMA reimbursements - $1.5 million. During the week of March 9, the City received $1.1 million in FEMA reimbursement related to damage caused by the 2022 flood. These funds specifically reimburse the City for repairs to the creek bank and adjacent portions of the Lee Wynn Trail. Following a review of the City’s cash flow, and as of March 24, 2026, the City has more than $5 million in cash on hand. Accordingly, the $1.1 million FEMA reimbursement will be reinvested by the City's investment advisor, Brad Lukens. This action is consistent with the City's Investment Policy and the Financial Policies and Procedures Manual, page 25.

Annual Review of Repurchase Accounts

Annually the Finance Department meets with the bank to review the city accounts and ensure that the city funds are secure, fully collateralized and capturing the greatest amount of interest available to the city. In doing so, it was recommended by CBIC that we move our accounts from the current repo account to an ICS account. The repo type of accounts are being transitioned out and CDARS/ICS is being recommended.

Financial Statements

Routine reporting for the period of December 2025, January and February 2026. Staff will review with the committee specific line-items (revenue and expenditures).

2025 Audit Timeline

2025 Audit Timeline. The timeline looks good. Internally, we are on schedule. The audit presentation will be at the June meeting. This will allow the city to meet the required June deadline of June 30th to have it issued to the state. The draft will be available in May.

Minutes Approval - January 21, 2026

Motion to approve the consent agenda.

Fiscal Year 2025 Budget Amendment

Per Section 130.100 of the City of Brentwood Municipal Code, after the annual budget has been approved, “the City shall not increase the total amount authorized for the expenditure from any fund, unless the Board of Aldermen adopts a resolution setting forth the facts and reasons making the increase necessary and approves or adopts an order, motion, resolution or ordinance to authorize the expenditures”. Staff brings forth a proposed amendment to the Fiscal Year 2025 Adopted Budget.

Amended Financial Policies and Procedures Manual

The purpose of this item is an amendment to the financial policy and procedures manual. This document was reviewed and updated by all department heads. Document includes the updated fleet replacement policy that was approved in FY 2025. A small section was updated in FY 2024 to increase petty cash for Planning & Development.

Open Meetings and Records Policy

The 2025 Legislative Session resulted in statutory amendments to the Missouri Sunshine Law making it necessary for the City to amend its ordinances regarding Open Meeting and Records Policy. Chapter 145 of the Brentwood Municipal code addresses open meetings and records policy as set by the Missouri Sunshine Law (RSMo 610.010 – 610.200) and applies to all records of a government entity, and to all meetings of the governmental body.

Amending Chapter 605 Pertaining to Business License Requirements

Staff has submitted a text amendment regarding the Licenses, Taxation and Miscellaneous Business Regulations, that include compliance with State Law and eliminating inconsistent provisions. Most notably, the removal of the review of Dance Halls and Dancing Schools requirements and review at the Public Safety committee, where such uses are listed in the Zoning Regulations as either a conditional or permitted use.

Payroll Services RFP

Finance / HR would like to explore other payroll platforms and request to go out for a 15-day RFP. Brentwood has contracted with ADP Workforce since FY 2015. The current processes are cumbersome and time consuming, and the platform is being phased out.

Missouri Ground Medical Transportation (GEMT) Reimbursement Expansion Program

Additional reimbursement funds for qualifying ambulance transports through Missouri GEMT have become available; the fire department is seeking permission to participate and capture these federally backed funds.