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(1) Draft the Finance Advisory Committee Biannual Report to the City Council, Inclusive of a) Accomplishments During the Period July through December 2024 and b) Updates on Upcoming Plans for Fiscal Year 2024-2025, and (2) Authorize Transmittal of the Report to the City Council
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Meeting Date: January 8, 2025
Contact Person/Dept: James Lambert/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 (01/02/2025)
Departmental Approval: Lisa Soghor, Chief Financial Officer (12/31/2024)
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RECOMMENDATION
Staff recommends the Finance Advisory Committee (FAC): (1) discuss and draft the biannual report to the City Council, featuring accomplishments from July through December 2024 and updates on upcoming plans for the remainder 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 January 27, 2025 in order to be received and filed by the City Council at the February 10, 2025 Regular City Council Meeting.
FISCAL ANALYSIS
None.
ATTACHMENTS
1. 2025_01_08 ATT1 - City Council Policy Number 3002
2. 2025_01_08 ATT2 - FAC Biannual Report to Council DRAFT
MOTION
That the FAC:
1. Authorize transmittal of the biannual report to the City Council