This special meeting of the Lodi Finance Committee features four agenda items focused on strengthening the City's fiscal governance. The centerpiece is a comprehensive overhaul of the Purchasing Policy — last updated in May 2022 — with updated procurement thresholds, new federal compliance provisions under 2 CFR Part 200, and stronger documentation requirements. Staff also proposes raising the City Manager's purchasing authority from $60,000 to $100,000 to align with comparable Northern California cities. A new framework for accepting donations without individual Council approval rounds out the agenda, following up on discussion from the March 11 meeting.

This Special Meeting of the Lodi Finance Committee covers two substantive items: approval of minutes from the February 4, 2026 Special Meeting, and a Fiscal Year 2027 Budget Cycle Discussion. The February minutes document a PARS/OPEB presentation and the formal introduction of the Annual Comprehensive Financial Report (ACFR) to the committee by auditors LSL (Lance, Soll & Lunghard, LLP). The FY 2024–25 ACFR is expected to be finalized in March 2026. The committee is also beginning forward planning for the FY 2026–27 budget amid a projected $4.8 million structural deficit expected to emerge over the next five years.

The City of Lodi Finance Committee convened a Special Meeting on February 4, 2026, at the Police Department's Rick Cromwell Community Room to address three principal agenda items: approval of prior meeting minutes, a comprehensive presentation from Public Agency Retirement Services (PARS), and an introduction to the Annual Comprehensive Financial Report (ACFR) process.

The Lodi Finance Committee meets to address critical fiscal matters including investment policy oversight, internal controls review, and pension stabilization strategy. The December meeting provides an opportunity to receive staff updates and continue strategic financial planning discussions.