Finance Committee 08/24/2026

The City of Westfield, Indiana Finance Committee met on August 24, 2026, primarily to discuss the 2027 budget process and review the city investment policy. The committee confirmed that all department directors had submitted their initial budgets, which were under council review with questions due by the end of the week to allow timely responses before the public hearing scheduled for September 14. A significant portion of the meeting focused on updating and adopting a revised city investment policy to ensure compliance with Indiana law, improve governance, and maintain safety and liquidity of public funds. The policy update included clarifications on investment officer roles, maturity limits, diversification, internal controls, and reporting requirements. The committee discussed the frequency of investment reporting, agreeing on quarterly reports for better oversight. They also considered involving municipal financial advisors and investment partners like Huntington Bank and Goldman Sachs for periodic reviews and presentations. No new speculative investment strategies were proposed, emphasizing preservation of public funds. The meeting concluded with a brief review of June financial reports and no major concerns noted.