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CC - Approval of and (if Desired) Discussion and Direction Related to the Finance Advisory Committee Work Plan
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Meeting Date: October 10, 2016
Contact Person/Dept: Jeff Muir/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: [X]
Commission Action Required: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (10/04/16); (Email) Meetings and Agendas - Fiscal and Budget Issues (10/04/16)
Department Approval: Jeff Muir (10/03/16)
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RECOMMENDATION
The Finance Advisory Committee (FAC) recommends the City Council review the amended FAC Work Plan for approval and if desired, discuss such Work Plan and provide direction as deemed appropriate.
BACKGROUND/DISCUSSION
Pursuant to Section III(B) of the Finance Advisory Committee Bylaws, the Committee's approved Work Plan may be amended from time to time with City Council approval. As of March 23, 2015, the FAC had the following eight Work Plan items:
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...
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