Finance Committee

Agenda — 3 items

1. At prior meetings, staff discussed concepts for changes to the Debt Management Policy for Finance Committee to review and approve. These included elimination of language specific to the City’s pension obligation bonds (which matured on June 1, 2026), addition of new best practices per the latest guidance from credit rating agencies, and work to align internal policy with Chapter 2 and Chapter 14 of the City Code. At the current meeting, staff will review a draft and discuss options for further changes. This is a discussion item only; no action will be taken at the current meeting. The discussion is expected to continue at future Committee meetings.
2. <em>During the May 14 City of Portland Finance Committee meeting, the Committee voted unanimously to approve the FY27 budget and all associated draft budget orders and Code amendments. At a subsequent Finance Committee meeting, staff presented a red-lined draft of the Procurement ordinance for Committee review, a public hearing, and potential committee action. At the current meeting, the Committee will hold an additional public hearing and take a vote to recommend the changes to the full Council.
3. To submit written public comment on an agenda item for which public comment is being accepted, email finance@portlandmaine.gov. Submissions must be received by 12:00 pm the day before the Finance Committee meeting to guarantee their inclusion in the agenda packet. All submissions must include the commenter's name and legal address. To help ensure your comment is submitted for the correct item, please include the name of the agenda item (see below).

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