Fiscal Committee Meeting Summary – April 14, 2026

The Fiscal Committee of the City of Grand Rapids met on April 14, 2026, at 8:30 AM. The meeting lasted approximately 11 minutes and covered six agenda items, all of which were approved or received and filed unanimously. Key items included recognition of the Grand Rapids African American Museum and Archives, a joint grant agreement with Kent County, bond authorization for a fire training center, and financial reports from the Comptroller and Treasurer.

Consent Calendar

• Resolution recognizing Grand Rapids African American Museum and Archives (GRAMA): Approved as a local civic organization. The organization needed quick approval for an upcoming event. City staff confirmed GRAMA is in good standing and compliant with state laws. (Item carried unanimously.)
• Resolution authorizing MOU with Kent County for JAG grant funds: Approved a memorandum of understanding for the fiscal year 2025 Byrne Memorial Justice Assistance Grant totaling $196,530. The funds will support the city's Neighborhood Investment Plan and Kent County's emergency operations center/sheriff's office. A public comment period runs April 9–24. (Item carried unanimously.)
• Bid list resolution for April 14, 2026: Approved eight routine bid items. (Item carried unanimously.)

Discussion Items

• Resolution for fire training center bond authorization: Authorized publication of a supplemental notice of intent to issue bonds under Michigan Act 34 to finance capital improvements for the fire training center campus. The city secured roughly $15 million in state grants, leaving an estimated $31 million gap to be bonded. The resolution set a not-to-exceed amount of $35 million to cover contingencies. Discussion included the rationale for bonding as a tool for intergenerational assets (useful life of 50 years). City staff noted that a 45-day referendum period will follow, and a full bond authorizing resolution will return later. The upcoming budget will include a forecast of future bond issuances (street lighting, water/sewer, and possibly parks). (Item carried unanimously.)
• Comptroller's warrant report (March 17–30, 2026): The Comptroller reported cash payments released totaling $30,418,179.20, including $5.9 million for employee payroll expenses. A negative figure on the income tax warrants was flagged as potentially incorrect and is under investigation. In terms of payment volume, 5,656 income tax refunds and 1,339 accounts payable checks/electronic payments were issued. The report also included a quarterly small claims report for January–March 2026, showing total payouts of just over $40,000 across 33 claims. The reports were received and filed.
• Treasurer's report (March 18–31, 2026): The Treasurer reported stable economic conditions with an uptick in inflation, and the Federal Reserve is not expected to change rates for the rest of 2026. The interest rate yield curve is beginning to normalize, which may lead to changes in investment strategy. The city recently purchased $7 million of MISHTA bonds (affordable housing in Michigan) out of a desired $20 million (prorated). The Treasurer is seeking legislative approval (Public Act 20 investment legislation) to allow out-of-state municipal bond purchases, which would enable investment of an additional $13 million. The report also noted upcoming professional conferences (GFOA, Michigan Municipal Treasurers Association) that highlight Grand Rapids as a leader. The report was received and filed.

Key Outcomes

• All five resolutions were approved unanimously.
• The Comptroller's and Treasurer's reports were received and filed without objection.
• The meeting adjourned at 8:41 AM.