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RESOLUTION NO. 2000- 103 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />NEWPORT BEACH ESTABLISHING THE FINANCE COMMITTEE. <br />WHEREAS, the City Council is the primary guardian of public funds; and <br />WHEREAS, appropriations, expenditures and other budgetary matters are a primary concern of <br />the City Council; and <br />WHEREAS, the City Council has adopted various policies regarding financial matters; and <br />WHEREAS, the City Council has adopted policies regarding income property and annexations <br />which may have an impact on the City's finances; and <br />WHEREAS, the City Council desires to appoint a committee to review all finance matters; <br />NOW, THEREFORE be it resolved by the City Council of the City of Newport Beach that the <br />Finance Committee is hereby established as follows: <br />1. The membership shall consist of the Mayor and two Council Members, one of who shall be <br />appointed chairperson. Appointment shall be made by the Mayor and confirmed by the full City <br />Council. <br />2. Meetings shall be called by the Chairperson or Mayor as needed. <br />3. Staff support shall be provided primarily by the City Manager and the Finance Director and by <br />other staff as necessary. <br />4. The duties of the Committee shall be as follows: <br />(a) Review and monitor events and issues which may affect the financial status of the City; <br />(b) Make recommendations to the City Council regarding amendments to the financial and <br />budgetary policies; <br />(c) Recommend actions to the City Council to further the aims of the Finance Committee's <br />policies; <br />(d) Review the activities of staff regarding the preparation of the City's budget and other fiscal <br />matters consistent with City Council policy; <br />(e) Review the activities of staff as outlined in the City Council Income Property Policy; <br />periodically review and inventory all City -owned income property; and make <br />recommendations to the full City Council related to the management of income property. <br />(f) Review the activities of staff pursuant to personnel and labor related issues and make <br />recommendations to the City Council related to these issues. <br />5. The term of this committee shall be indefinite pending City Council action. <br />