Finance Committee

City Hall, Room 105 215 Pleasant Street Malden, MA 02148

Agenda — 15 items

1. 1 Roll Call
2. 2 Minutes to be Approved
3. 2 Also Present: Councillors Colon Hayes, Crowe, O'Malley, Winslow Maria Luise-Special Assistant to the Mayor Zaheer Samee-Assistant City Solicitor Charles Ranaghan-Controller/CFO Dan Grover-Treasurer Ron Hogan-Chief Strategy and Innovation Officer Councillor McDonald called the meeting to order at 6:08 PM. This meeting will have audio and video via Teams.
4. 3 Minutes of January 13, 2026 to be approved. 76-26 approved Pass
5. 4 Minutes of July 29, 2025 to be approved. 80-26 approved Pass
6. 5 Minutes of June 7, 2022 to be approved. 81-26 approved Pass
7. 6 Business
8. 7 Order: That the Finance Committee meet in conjunction with the Mayor’s financial team to research the feasibility of submitting an application to the Massachusetts Department of Revenue, Division of Local Services’ Financial Management Resource Bureau for a Financial Management Review of the City of Malden. The purpose of such a review shall be to evaluate municipal operations, financial practices, and organizational efficiency. Be it further ordered, that upon successful completion of the review the Finance Committee will come back to the Full Council to report on the Bureau’s findings. 52-26 recommended favorably Pass
9. 8 Order: That the Finance Committee engage in discussions regarding the costs involved, and procedures required for, requesting the Office of the State Auditor to conduct a municipal audit on the City of Malden. The purpose of the audit shall be to identify any inefficiencies or irregularities in financial management within the city; to ensure that public funds are being used effectively and in accordance with Malden’s goals and policies; to enhance transparency and public confidence; and for the State Auditor’s Office to provide recommendations for improving financial controls and safeguarding against waste or loss while complying with relevant laws and regulations. 53-26 recommended for referral Pass
10. 9 The Committee will review the recent history of Malden's annual financial audits.
11. 10 The Committee will continue discussing scheduling of educational forums in advance of the upcoming Special Municipal Election in March.
12. 11 Other Business
13. 12 Tabled Papers
14. 13 Adjournment adjourned Pass
15. 14 If you would like to request a reasonable accommodation, please contact Maria Luise, ADA Compliance Coordinator at mluise@cityofmalden.org or 781-397-7000 Ext. 2005 For instructions on enabling live translated captions in Teams, please visit: www.cityofmalden.org/captions