A standing Finance Committee composed of three members of the
City Council is established.
(Ord. 6097 §1, 2023)
The members of the Finance Committee shall be appointed by the
City Council for a specific or indefinite term. The City Council shall
designate one of its members as the Chairperson of said Committee.
The City Council may remove or reassign members of the Finance Committee
by motion, with or without cause.
(Ord. 6097 §1, 2023)
The Finance Committee shall receive reports from the City Administrator
and Finance Director, and make recommendations to the City Council,
upon matters that have a substantial budgetary or financial impact
on the City. These matters will include, but shall not be limited
to, the following:
A.
Debt
financing;
B.
Affordable
housing loans;
C.
New,
or changes to existing, department fees and charges;
D.
Consideration
of tax or other revenue generating measures;
E.
Significant
appropriation requests where: (1) multiple funding options may exist
and should be considered; and/or (2) the request requires the use
of reserves, which would reduce the fund's reserve level below the
City Council policy target;
F.
Budget
development topics;
G.
Annual
Comprehensive Financial Report (ACFR);
H.
Quarterly
financial update reports; and
I.
Annual
investment report.
(Ord. 6097 §1, 2023)
Meetings of the Finance Committee shall be open and public pursuant
to City Charter Section 510 and the Ralph M. Brown Act, Government
Code Sections 54950, et seq., as it may be amended from time to time.
(Ord. 6097 §1, 2023)
The City Administrator or Finance Director shall report the
recommendations of the Finance Committee to the City Council.
(Ord. 6097 §1, 2023)
