HomeMy WebLinkAbout94-110 - Finance CommitteeRESOLUTION NO. 94 -110
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH ESTABLISHING 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 the Mayor and two 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 or Mayor as needed.
3. Staff support shall be provided primarily by the City Manager and the Finance
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) Recommend actions to the City Council to further the aims of the Finance
Committee's policies;
(d) Review the activities of staff regarding the preparation of the City's
budget and other fiscal matters consistent with City Council policy;
(e) Review the activities of staff as outlined in the City Council Income
Property Policy; periodically review and inventory all City -owned income
property; and make recommendations to the full City Council related to
the management of income property.
(f) Review the activities of staff pursuant to the City Council Annexation
Policy and make recommendations to the City Council regarding the
annexation of additional territory to the City.
5. The term of this committee shall be indefinite pending City Council action.
• ADOPTED this 12th date of December 1994.
Ajw � J
MAYOR
ATTEST: