9770 CULVER BOULEVARD, CULVER CITY, CA 90232-0507
M
EMORANDUM
DATE: September 19, 2022
TO: HONORABLE MAYOR LEE AND MEMBERS OF THE CITY
COUNCIL OF THE CITY OF CULVER CITY
FROM: Chair Andrew Lachman and Members of the Culver Cit y Finance Advisory Committee
SUBJECT: 2021-2022 Accomplishments and 2022-2023 Work Plan CC: John Nachbar, City Manager
Lisa Soghor, Chief Financial Officer
On July 13, 2022, the Finance Advisory Committee (FAC) approved the transmittal of the following information to the City Council:
2021-2022 Accomplishments
The FAC:
o Provided a recommendation to the City Council rega rding extended stay hotel/motel use.
o Provided a recommendation for updates to the City Council Policy 3002 – City Commissions, Boards and Commissions for inclusion of language encouraging diversity in appointments.
o Completed a revision of FAC Bylaws and transmitted to City Council for adoption.
o Participated in the Economic Recovery Task Force ( ERTF).
o Filed ongoing Measure CC and C Sales Tax and Measu re RE status reports to the City Council.
o Reviewed a series of hearings exploring alternativ e ways to raise revenue for the City.
o Conducted a discussion and review of a proposed ba llot measure for a business license tax update.
FAC Accomplishments and Work Plan September 19, 2022
o Conducted a discussion and review of a proposed ba llot measure for a parcel tax to fund affordable housing.
o Held a joint hearing with Parks, Recreation & Comm unity Services (PRCS) for the Park Bond.
The Government Efficiency Ad Hoc Subcommittee deve loped the Government Efficiency Awards program and evaluated submissions.
The FAC made recommendations to City Council and th e first annual awards were presented by City Council on June 13, 2022.
A proposal on Participatory Budgeting was presente d to the FAC, opening discussion on the topic.
The following FAC Subcommittees achieved their obj ectives and were thus disbanded: Bylaws Review Ad Hoc Subcommittee; Information Gathering Ad Hoc Subcommittee; Extended Stay Hotel Review Ad Hoc Subcommittee; Business License Review Ad Hoc Subcommittee.
Work Plan for Fiscal Year 2022-2023
1. Review and make recommendations on revenue struc ture and opportunities that may be available for the City. Continue to monitor similar neighboring cities for innovative ideas and comparison.
2. Continue to provide quarterly reports to the Cit y Council on Measure CC proceeds.
3. Continue to monitor the communications strategy of financial information on the City’s website.
4. Review and make recommendations for the annual u pdates to the long- term financial forecast.
5. Review and discuss budget expenditure challenges /inefficiencies for the future.
6. Provide quarterly reports to the City Council on the one-quarter cent Local Transactions and Use Tax Measure proceeds (Measure C).
7. Review implementation of Business License Tax Me asure, if adopted.
8. Review and provide recommendations on payment ti ming and late payment enforcement methods for the current business tax.
9. Continue the successful, annual Government Effic iency Awards program to incentivize/recognize staff for ideas or program s that generate cost- savings, revenue enhancements, or improve municipal efficiency.
FAC Accomplishments and Work Plan September 19, 2022
10. Engage in other special projects to review chal lenges created by budget and revenue impacts resulting from fluctuating economic conditions.
11. Review implementation of the Real Estate Transf er Tax as approved in November 2020.
12. Acknowledge the upcoming 10-year anniversary of the Finance Advisory Committee and review significant accomplishments and highlights.
13. Review ways to address the funding of needed infrastructure issues in the City, such as housing.
14. The Structural Revenue Review Subcommittee (cre ated July 2022) will review current revenue sources in the City.