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The City of Boulder will form a finance committee to help it “invest funds and make sure they are working for the public so that we can use them in the general fund,” Mayor Rusty Giulio said in the Nov. 18 meeting of the City Council.

“We’ve got some funds out there that can be reinvested that we really haven’t been paying attention to and need some people with financial experience to do that,” he said in starting the discussion on the agenda item.

Councilor Drew Dawson said that the idea to form the committee came up while the city’s fiscal year 2020 budget was being hashed out.

“It just seems like this would be a reasonable thing to do, to do our due diligence with the money that we invest … [to] make sure we are getting the best deal for the city,” he said in the Nov. 18 meeting.

City Clerk Ellen Harne said that a prior discussion identified the potential makeup of the committee, which could include herself, Tom Harrington of Jefferson Local Development Corporation, a council member and the mayor among others.

Dawson moved that the city “establish a finance committee to review our investments and perhaps to look at our budget as well” and that its members be appointed by the mayor.

The City Council approved the formation of the committee in a 4-0 vote.

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