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(1) Discussion of Approved Work Plan; (2) Discussion of the Creation of Subcommittees; (3) (If Desired) Creation of Subcommittees; and (4) (If Desired) Appointment of Members to Such Subcommittees.
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Meeting Date: August 10, 2016
Contact Person/Dept: Jeff Muir, Chief Financial Officer
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: []
Public Notification: (E-Mail) Meetings and Agendas - Finance Advisory Committee (08/04/2016)
Department Approval: Jeff Muir, Chief Financial Officer (08/04/2016)
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RECOMMENDATION
Staff recommends that the Finance Advisory Committee (FAC) (1) discuss the approved Work Plan; (2) discuss the creation of Subcommittees, (3) (if desired) create subcommittees, and (4) (if desired) appoint members to such subcommittees.
BACKGROUND/DISCUSSION
On March 23, 2015, the City Council approved the amended Work Plan of the Finance Advisory Committee, as follows:
1. Undertake a Budget Benchmarking Project to compare where and how Culver City spends and receives money to selected similar communities. Analyze possibilities for alternative service delivery methods.
2. Review and make recommendations on revenue opportunities that may be available to the City.
3. Continue to provide quarterly reports to the City Council on Measure Y proceeds.
4. Continue to monitor the communications strategy of financial information on the City’s website.
5. Review and make recommendations for the annual updates to the long-term financial forecast.
6. Review and make recommendations for addressing urban runoff requirement compliance.
7. Review current and potential utilization of assessment districts.
8. Review and provide input to the City Council on a policy related to special event sponsorship.
The FAC has created subcommittees to begin dealing with work plan items. Currently active Subcommittees include:
1. Special Events Work Plan Item (Work Plan Item #8):
Members Alexander (formerly included Members Eriksson and Hibbs)
ATTACHMENTS
None
MOTION
That the FAC:
1. Discuss the approved Work Plan, consider new Work Plan items, and provide feedback to staff on prioritization; and
2. Discuss the potential creation of subcommittees; and,
3. (if desired) Create such subcommittees; and,
4. (if desired) Appoint members to such subcommittees.