9770 CULVER BOULEVARD, CULVER CITY, CA 90232-0507
MEMORANDUM
DATE: February 8, 2023
TO: HONORABLE MAYOR VERA AND MEMBERS OF THE CITY
COUNCIL OF THE CITY OF CULVER CITY
FROM: Chair Andrew Lachman and Members of the Culver City Finance Advisory Committee
SUBJECT: 2022 ACCOMPLISHMENTS AND 2023 PROPOSED
ACTIVITY/UPCOMING AGENDA ITEMS FOR THE NEXT 6
MONTHS
CC: John Nachbar, City Manager
Lisa Soghor, Chief Financial Officer
On February 8, 2023, the Finance Advisory Committee (FAC) approved the transmittal of the following information to the City Council:
2022 FAC Accomplishments
The FAC’s Government Efficiency Ad Hoc Subcommittee developed the Government Efficiency Awards Program and evaluated submissions.
The FAC made recommendations to City Council and the first annual Innovation Awards were presented to four categories of honorees by City Council on June 13, 2022.
A proposal on Participatory Budgeting was presented to the FAC, opening discussion on the topic.
The following new ad hoc subcommittees were formed:
o Assets Ad Hoc Subcommittee
o Council Correspondence Ad Hoc Subcommittee
o Structural Revenue Ad Hoc Subcommittee
The following FAC ad hoc subcommittees achieved their objectives and were thus disbanded:
o Business License Review Ad Hoc Subcommittee
o Bylaws Review Ad Hoc Subcommittee
o Council Correspondence Ad Hoc Subcommittee
o Extended Stay Hotel Review Ad Hoc Subcommittee
FAC Accomplishments and Work Plan February 8, 2023
o Information Gathering Ad Hoc Subcommittee
The FAC:
o Completed and transmitted a revision of FAC Bylaws to the City Council for adoption,
o Participated in the Economic Recovery Task Force (ERTF),
o Filed ongoing status reports with the City Council on a quarterly basis: Measure CC Sales Tax, Measure C Sales Tax, and Real Property Transfer Tax,
o Conducted a discussion and review of a potential ballot measure for a business license tax update,
o Conducted a discussion and review of a potential ballot measure for a parcel tax to fund affordable housing,
o Held a joint hearing with Parks, Recreation & Community Services (PRCS) on January 12, 2022 to discuss various methods of raising funds for park infrastructure and improvements,
o Submitted a letter to City Council regarding the role of the FAC.
2023 FAC Scheduled Activities / Work Plan
1. Continue to provide quarterly reports to the City Council on Measure CC proceeds
2. Continue to provide quarterly reports to the City Council on Measure C proceeds
3. Review implementation of Measure RE and the Real Property Transfer Tax as approved in November 2020
4. Review implementation of Measure BL (Business License Tax Measure)
5. Review and provide recommendations on payment timing and late payment enforcement methods for the current business tax
6. Continue to monitor the communications strategy of financial information on the City’s website
7. Review and make recommendations for the annual updates to the long- term financial forecast
FAC Accomplishments and Work Plan February 8, 2023
8. Review and discuss budget expenditure challenges/inefficiencies for the future
9. Continue the successful, annual Government Efficiency Awards Program to incentivize/recognize staff for ideas or programs that generate cost-savings, revenue enhancements, or improve municipal efficiency
10. Engage in other special projects to review challenges created by budget and revenue impacts resulting from fluctuating economic conditions
11. Commemorate the upcoming 10-year anniversary of the FAC and review significant accomplishments and highlights. (The FAC held their first meeting on May 8, 2013)
12. The Structural Revenue Review Ad Hoc Subcommittee (created July 13, 2022) will review current revenue sources in the City, as well as the updated revenue map
13. Assist the Culver City Finance Department with Fiscal Year 2022-2023 work plan goals, including the User Fee Study
14. Analyze assets held by the City to identify and optimize opportunities for revenue generation
15. Review revenue and financing opportunities to fund needed infrastructure issues in the City, such as housing and parks
16. Review and discuss the Annual Comprehensive Financial Report (ACFR) after publication
17. Review success of City Fraud, Waste, and Abuse of City Resources hotline
18. Improve communications with the City Council and consistently participate at City Council meetings
*Items in bold were added to the Work Plan on February 8, 2023.