Board hears finance updates; first reading held for revision to finance director responsibilities

The board heard a finance briefing and held the first reading of an ordinance to revise Chapter 130 of the Shrewsbury Municipal Code related to responsibilities of the city director of finance.

A staff presenter introduced the ordinance for its first reading; the board made a motion and recorded the first reading. No final action was taken; the ordinance will return for subsequent readings as required.

Finance staff said the annual audit is scheduled with on‑site work the week of July 21. Staff reported investment and bank account operations yielded about $1,500 in interest over a five‑day window in June and said the process will continue to be monitored for budget effects.

On budget preparation, staff described an effort to simplify the city’s 100‑plus page budget document to make key figures clearer for elected officials and the public. Staff also said liability insurance rates are expected in the coming weeks ahead of an August 1 renewal and that a meeting with their workers’ compensation carrier has been scheduled to review applicable discounts.

The board did not vote on budget or insurance items during the meeting; these were reported as operational updates.