HomeMy WebLinkAbout2007-21 - Establishing Duties of Finance CommitteeRESOLUTION NO. 2007 - 21
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH ESTABLISHING THE DUTIES AND RESPONSIBILITIES
OF THE FINANCE COMMITTEE
WHEREAS, the City Council is the primary guardian of public funds; and
WHEREAS, appropriations, expenditures and other budgetary matters are a
primary concern of the City Council; and
WHEREAS, the City Council has adopted various policies regarding financial
matters; and
WHEREAS, the City Council has adopted policies regarding income property
and annexations which may have an impact on the City's finances; and
WHEREAS, the City Council desires to appoint a committee to review all finance
matters;
NOW, THEREFORE be it resolved by the City Council of the City of Newport
Beach that the Finance Committee is hereby established as follows:
1. The membership shall consist of three Council Members, one of whom shall be
appointed chairperson. Appointment shall be made by the Mayor and confirmed
by the full City Council.
2. Meetings shall be called by the Chairperson as needed.
3. Staff support shall be provided primarily by the City Manager and the
Administrative Services Director and by other staff as necessary.
4. The duties of the Committee shall be as follows:
(a) Review and monitor events and issues which may affect the financial
status of the City;
(b) Make recommendations to the City Council regarding amendments to the
financial and budgetary policies;
(c) Review the activities of staff regarding the preparation of the City's budget
and other fiscal matters consistent with City Council policy;
(d) Recommend for Council approval, and manage an on -going process for
measuring and setting goals designed to maximize the City's revenues
consistent with existing taxation structures and intergovernmental funding
opportunities, fee generation consistent with market rate charges for City
provided services and market rate fees for utilization of City owned
assets. Recommend to Council major initiatives to accomplish identified
goals;
(e) Recommend for Council approval, and manage an on -going process for
measuring and setting goals designed to minimize the City's cost to
provide core services and required activities, consistent with the desired
service level for residents and other internal and external customers.
Recommend to Council major initiatives to accomplish identified goals;
(f) After approval by the City Council, identify, review and annually
recommend to Council the most advantageous methods to fund the City
Council's approved Facilities Financing Plan;
(g) Identify, review and annually recommend to Council the most
advantageous methods to fund the City's long term compensation and
benefit program liabilities; and
(h) Review and recommend to Council policies related to the setting of
funding goals for major discretionary reserves, and review on -going
progress related thereto.
5. The term of this committee shall be indefinite pending City Council action.
ADOPTED this 10th day of April, 2007.
ATTEST:
I
*4 Eno
STATE OF CALIFORNIA }
COUNTY OF ORANGE
CITY OF NEWPORT BEACH }
I, LaVonne M. Harkless, City Clerk of the City of Newport Beach, California, do
hereby certify that the whole number of members of the City Council is seven; that the foregoing
resolution, being Resolution No. 2007 -21 was duly and regularly introduced before and adopted by
the City Council of said City at a regular meeting of said Council, duly and regularly held on the
10th day of April 2007, and that the same was so passed and adopted by the following vote, to wit:
Ayes: Henn, Curry, Selich, Webb, Daigle, Gardner, Mayor Rosansky
Noes: None
Absent: None
Abstain: None
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
official seal of said City this 11th day of April 2007.
(Seal)
City Clerk
Newport Beach, California