Ferndale City Council Committees

The Ferndale City Council Finance and Administration Committee met for a brief 18-minute session to review two routine financial reports. Finance Director Danielle Ingham presented the first quarter 2026 Treasury report, showing the city's total treasury balance decreased from $70.2 million to $68.1 million due to planned capital expenditures including City Hall and other projects. The city continued its investment diversification strategy, purchasing $10 million in additional securities across three banks (TVI, Wells, and Daiwa) at rates of 3.89% and 3.91%, which now exceed the Local Government Investment Pool rate of 3.71%. The committee also reviewed the city's 2025 unaudited annual financial report, marking the first time this document has been formally presented to council as part of the state-required checklist process. The report showed strong financial performance with no surprises, including robust Transportation Benefit District revenues of $863,000 - more than four times the original projections when the program began. The meeting concluded with discussion about the upcoming audit process and the state's Financial Intelligence Tool for comparing municipal finances.