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CC - (1) Approval of and (if Desired) Direction Related to the Finance Advisory Committee Work Plan; and (2) Receive and File Quarterly Report of the Finance Advisory Committee
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Meeting Date: August 26, 2019
Contact Person/Dept: Erica McAdoo/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [] Attachments: []
Commission Action Required: Yes [] No [X] Date:
Public Notification: (E-Mail) Meetings and Agendas - City Council (08/21/19); (E-Mail) Meetings and Agendas - Finance Advisory Committee (08/21/19)
Department Approval: Onyx Jones, Chief Financial Officer (08/21/19)
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RECOMMENDATION
Staff recommends the City Council (1) review the amended Finance Advisory Committee (FAC) Work Plan for approval and if desired, provide direction as deemed appropriate and (2) receive and file a quarterly report of the Finance Advisory Committee.
BACKGROUND/DISCUSSION
Finance Advisory Committee Work Plan
At its August 14, 2019 Meeting, the FAC reviewed, held discussion and approved a status report to the City Council on completed Work Plan items, updates on remaining goals and added new work plan items.
Completed Work Plan Items:
* Discuss and provide input on feasibility of Veterans Memorial Building becoming an Enterprise Fund.
Status: Recommendation provided to City Council in March 2019 that it is not feasible at this time for the Veterans Memorial Building to become an enterprise fund. However, this item may be reconsidered in the future.
Remaining Work Plan Items:
1. Review and make and make recommendations on revenue opportunities that may be available to the City, while continuing to monitor and compare to similar neighboring cities where and how Culver City spends and receives money. (Ongoing)
2. Continue to provide quarterly report...
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