City of Columbia, Missouri  
Meeting Minutes - Final  
Finance Advisory and Audit Committee  
City Hall  
Monday, September 15, 2025  
Regular  
Council Chambers  
701 E. Broadway  
Columbia, MO.  
1:00 PM  
I. CALL TO ORDER  
Chair, Maria Oropallo called the meeting to order at approximately 1:00 p.m.  
Brian Toohey left at approximately 1:44 p.m.  
Staff attending: Matthew Lue, Kristina Wolf, Cale Turner, Amanda Kent, Jim McDonald,  
Deepayan Debnath, and Shane Edwards  
5 -  
Present:  
Unexcused:  
Maria Oropallo, Randy Minchew, Brian Toohey, Peter Schneeberger and Ryan  
Euliss  
1 - Kristian Bloom  
II. INTRODUCTIONS  
Members and staff introduced themselves.  
III. APPROVAL OF AGENDA  
Motion to approve the agenda made by Minchew, seconded by Euliss; motion  
carries.  
IV. APPROVAL OF MINUTES  
August 18, 2025 Minutes  
Attachments: FAAC Minutes 20250818  
Motion to approve the minutes made by Minchew, seconded by Euliss; motion  
carries.  
V. OLD BUSINESS  
Mission Statement  
Members discussed the current redlined copy of the Finance Advisory and Audit  
Commission mission statement. Oropallo will make updates/changes and send to  
Council for approval.  
Motion to send to Council the edited FAAC mission statement made by Toohey,  
seconded by Schneeberger; motion carries.  
Legislation Discussion  
Attachments: Edits to the FAAC Establishing Legislation  
Members discussed the current duties and suggestions for changes to the current  
legislation. This topic will be added to the October 20, 2025 agenda.  
FY26 Budget Discussion  
Members and staff discussed any questions or concerns regarding the FY26 budget.  
VI. NEW BUSINESS  
Risk Management Discussion  
Members and staff discussed the recent request that Risk Management be relocated  
from Finance to the Law Department.  
Update on Purchasing Ordinance  
Lue stated as of now they have redline revisions, however there are concerns with the  
extensive changes that are being suggested. Members and staff discussed further.  
Update on Investment Committee  
Clearwater implementation is close to completion. Once done, Present this quarterly to  
FAAC and present to Council the same month.  
VII. REPORTS  
Monthly Economic Report  
Attachments: Monthly Economic Report-September 2025  
Finance staff presented members with a summary of the monthly finance report.  
• Both in July and August, national unemployment increased. In August, the national  
unemployment rate increased further by 0.08 percentage points to 4.32%. However,  
during the same months, inflation went up. This could be due to uncertain trade policies.  
• The unemployment rate in Columbia increased by 0.23 percentage points in July,  
reaching 4.46%. Similarly, Missouri's unemployment rate rose by 0.27 percentage points  
to 4.66% during this period. Consistently, the national unemployment rate rose by  
0.13percentage points to 4.25% in July.  
• Considering the steady increase in the unemployment rate, a rate cut during the Fed’s  
September meeting is highly likely. However, the magnitude of the rate decrease remains  
uncertain.  
• The Producer Price Index (PPI), a measure of wholesale prices on a seasonally  
adjusted basis, fell year-over-year to 2.63% in August from 3.31% in July. PPI, excluding  
food and energy, decreased to 2.84% in August, down from 3.64% in July. A declining  
PPI related to services may further increase the unemployment rate.  
• National real GDP estimates for Q2 2025 have increased by 3.3% compared to Q1  
2025, which was -0.5% in the previous quarter (Q1 2025 compared to Q4 2024).  
According to the Bureau of Economic Analysis (BEA, 2025, August 28), this is due to  
the decrease in imports.  
• Meanwhile, the national Consumer Price Index (CPI) rose to 3.11% year-over-year in  
August. On a seasonally adjusted basis, the CPI rose by approximately 0.4% in August  
compared to the previous month.  
• Consistently, annual inflation among Midwestern cities with a population of less than  
2.5 million increased to 3.12% in August compared to 3.03% last month. However, core  
inflation (excluding food and energy) during the same period decreased by 0.20  
percentage points to 3.37%.  
• In July 2025, the median home price in Boone County declined by 1.57% compared to  
last year. Similarly, it has decreased by 2.54% over the last month. The median home  
price in Columbia in June is $346,000, which is $61,000 higher than the median price in  
Missouri. In July 2025, Boone County home sales totaled 217, a slight annual increase of  
0.93%.  
• Sales tax collections in September (July tax period) totaled around $4.78 million, while  
use tax collections came to $842,179, respectively, 9.53% ($503,292) lower and 30.50%  
($196,834) higher than those of last year's September.  
• In FY 2025, the City of Columbia's year-to-date total sales and use tax collections are  
down by $19,644, a slight 0.03% decrease. • Marijuana-related excise tax collection in  
September (July tax period) was $65,216. The total year-to-date collections for FY 2025  
are $605,471, representing a 19.92% decrease from the same period last year. Note: All  
inflation measures are for Midwest cities with a population of less than 2.5 million.  
VIII. GENERAL COMMENTS BY PUBLIC, MEMBERS AND STAFF  
Matthew Lue indicated that the audit will begin potentially in October.  
IX. NEXT MEETING DATE  
October 20, 2025  
X. ADJOURNMENT  
Motion to adjourn the meeting at approximately 1:58 p.m. made by Minchew,  
seconded by Schneeberger; motion carries.