City disbands finance committee

The Boulder City Council voted at its March 17 meeting to dissolve its Finance and Investments Committee.

 The committee, which was responsible for overseeing $1.4 million in accumulated city investments, was formed in 2019 with the purpose of more actively managing the fund given the city’s lack of in-house personnel capable of doing so. 

“This is generally something that falls under the responsibility of the city administrator, or treasurer,” said Councilman Tim Graff during the meeting. “Having a committee for something like this is kind of unprecedented, and with all the city and meeting laws that need to be complied with, not really productive. After we notice and notify, by the time things happen on the market, we’re two months behind.”