title
CC - Approval of and (if Desired) Direction Related to the Finance Advisory Committee Work Plan.
body
Meeting Date: August 27, 2018
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 (08/21/18); (Email) Meetings and Agendas - Fiscal and Budget Issues (08/21/18)
Department Approval: Jeff Muir, Chief Financial Officer (08/20/18)
____________________________________________________________________________
RECOMMENDATION
The Finance Advisory Committee (FAC) recommends the City Council review the amended FAC Work Plan for approval and if desired, provide direction as deemed appropriate.
BACKGROUND
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. On October 10, 2016, City Council approved the following nine Work Plan items:
1. Review and make recommendations on revenue opportunities that may be available to the City, including current and potential utilization of assessment districts.
2. Review and make recommendations for addressing urban runoff requirement compliance funding.
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. Continue to monitor and compare where and how Culver City spends and receives money to neighboring similar cities.
7. Review and institute best practices for financial services disaster preparedness and continuity guidelines.
8. Design and review a stress test for revenue reduction...
Click here for full text