October 15, 2026 - Finance and Audit Commission

The City of Menlo Park Finance and Audit Commission met on October 15, 2026. It reviewed the June 30 and September 30 investment portfolio reports and unanimously recommended that the City Council receive them. Staff described a strategy of gradually extending the portfolio’s weighted average maturity toward three years while maintaining liquidity and prioritizing safety; about $10 million in securities were expected to mature by year-end, and the city had roughly $23 million in operating cash. The commission also received an update on the City Council-approved 2026–27 work plan, which was approved without changes, and voted to form a subcommittee for goal six: organizing community budget forums on financial matters such as revenue generation and cost-recovery strategies.

The commission discussed the city’s grant pipeline, including applications at various stages and unsuccessful applications, such as a state cybersecurity grant, as well as potential grant support for projects including a quiet zone, smart irrigation, and urban forest planning. Staff explained that grant-funded expenditures are generally not budgeted until funding is awarded. No contracts, vendor selections, bid approvals, or other procurement actions were identified.