Finance & Investment Committee
- 4:00 p.m.
- The 1st Monday of the month
- City Council Chambers
Agendas & Minutes
Agendas are available prior to the meetings. Minutes are available following approval.
View Most Recent Agendas and Minutes
MembersCouncilmembers Roger Spreen and Michelle Wu
|Member||Term Expire||Member||Term Expire|
|Roddy Sloss (Chair)||Sep 2019||Stanley Mok||Sep 2021|
|Allan Epstein||Oct 2020||Christopher Nam||May 2020|
|Kjell Karlsson||Sep 2019||Bill Silver||Sep 2020|
|Susan Mason||Apr 2020||Chris Welborn||Apr 2020|
- Frank Lloyd
- Jim Lai
- Medha Rishi
The membership of this Committee shall consist of a minimum of 5 and a maximum of 9 members. The Mayor and Vice Mayor shall serve as non-voting Council liaisons. Members shall meet at least 1 of the following qualifications:
- Five years accounting and financial experience in a public corporation, municipal government or privately held business
- Financial officer of a public corporation with five years experience
- Investment officer of a F.D.I.C. member institution with 5 years experience
- Money manager who specializes in corporate or government agency issues with a minimum of 5 years experience
- Five years experience in investment banking, venture capital and/or general management
The charges to and duties of this committee shall be to:
- a. to serve as an advisory body to the City Council on financial and
investment matters and operations related thereto;
b. to review five-year capital budgets and
revenue projections and make recommendations to the City Council;
c. to review the annual budget and make recommendations to the
d. to review the annual audit and make recommendations to the City
e. to advise the Council on change and selection of auditors
f. to study all fiscal issues and recommend possible improvements
and economies; and
g. to develop and recommend an investment Policy that protects capital, provides adequate liquidity and generate market returns at an acceptable level of risk.
h. to monitor investment performance and recommend changes as appropriate. All such recommendations shall be approved by the City Council. The City Manager shall execute any approved investment decisions.
i. to monitor pension and OPEB obligations and recommend appropriate mitigation and reserve policies.