title
(1) Draft the Finance Advisory Committee Biannual Report to the City Council, Inclusive of a) Accomplishments During the Period January through June 2024 and b) Updates on Upcoming Plans for Fiscal Year 2024-2025, and (2) Authorize Transmittal of the Report to the City Council
body
Meeting Date: July 10, 2024
Contact Person/Dept: John Figueroa/Finance
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: [X]
Public Notification: (E-Mail) Meetings and Agendas - Finance Advisory Committee (07/05/2024)
Departmental Approval: Lisa Soghor, Chief Financial Officer (07/05/2024)
_____________________________________________________________________
RECOMMENDATION
Staff recommends the Finance Advisory Committee (FAC): (1) discuss and draft the biannual report to the City Council, featuring accomplishments from January through June 2024 and updates on upcoming plans for the first half of Fiscal Year 2024-2025; and (2) authorize transmittal of the report to the City Council.
BACKGROUND / DISCUSSION
Per Section VI of City Council Policy Number 3002 entitled City Commissions, Boards and Committees; Appointed Representatives to Outside Agencies and Boards, “periodically, but no less than biannually, each CBC shall submit to the City Council a written report on their respective activities.”
In compliance with the policy, the FAC shall discuss and develop an updated report containing the Committee’s recent accomplishments, updates on ongoing activities, and goals for the upcoming six months.
The biannual report must be completed by the FAC and submitted to the City Clerk by July 29, 2024 in order to be received and filed by the City Council at the August 12, 2024 Regular City Council Meeting.
FISCAL ANALYSIS
None.
ATTACHMENTS
1. 2024_07_10_ATT1 - City Council Policy Number 3002
2. 2024_07_10_ATT2 - FAC January 10, 2024 report to City Council
3. 2024_7_10_ATT3 - Draft FAC July 10, 2024 Report to City Council
MOTION
That the FAC:
1. Authorize Transmittal of the Biannual Report to the City Council