HomeMy WebLinkAbout2013-32 - Amending Duties and Responsibilities of Finance CommitteeRESOLUTION NO. 2013 -32
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH AMENDING 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 additional duties and responsibilities of the Finance Committee shall include:
1. Review the structure and documentation of any proposed debt financing to
assess the risk associated with debt usage;
2. Conduct audit conference meeting(s) with the auditors to provide independent
review and oversight of the City of Newport Beach's financial reporting
processes, framework of internal control, and to provide a forum in which
auditors can candidly discuss concerns in the absence of staff; and
3. Review with staff on an annual basis the timing, means of financing, and fiscal
impacts associated with funding the high - priority projects designated in the
Facilities Financing Plan.
ADOPTED this 9th day of April, 2013.
MAYOR
ATTEST:
r P,;T*�_
-4 CITY CLERK
STATE OF CALIFORNIA }
COUNTY OF ORANGE } ss.
CITY OF NEWPORT BEACH }
I, Leilani I. Brown, 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. 2013 -32 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 gth day of April, 2013, and that the same
was so passed and adopted by the following vote, to wit:
Ayes: Gardner, Petros, Hill, Selich, Henn, Daigle, Mayor Curry
Nays: None
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the official seal of
said City this 11th day of April, 2013.
City Clerk
Newport Beach, California
(Seal)