Agenda Item
City Council
Item #: 3.29. 7/12/2022 File #: 22-0426
TO: Honorable Mayor and Members of the City Council
THRU: Rob Houston, City Manager
FROM: Will Kolbow, Assistant City Manager/Administrative Services Director
1. SUBJECT
Establishing the day and time for Investment and Audit Committee meetings. Resolution No.11409.
2. SUMMARY
With the recent creation of the Investment and Audit Committee, the City Council must set the day and time that the committee will meet. Adoption of this Resolution will set a quarterly meeting schedule for the committee, commencing later this month.
3. RECOMMENDED ACTION
Adopt Resolution No. 11409. A Resolution of the City Council of the City of Orange setting the day and time of meetings of the Investment and Audit Committee.
4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOALS
Goal 2: Be a fiscally healthy community
a: Expend fiscal resources responsibly.
6. DISCUSSION AND BACKGROUND
In April 2022, City Council approved the creation of the Investment and Audit Committee, which merged the functions of the former Investment Advisory and Audit committees. City Council action is required to set the day and time of the new Committee. Staff proposes to have the Committee meet quarterly on the fourth Wednesday of the month at 3:00 PM. Meetings will take place in January, April, July, and October. Among other duties, this schedule will allow the Committee to review investment reports from the previous quarter in a timely fashion in order to meet the requirements of the Government Code.
7. ATTACHMENTS
· Resolution No. 11409
City of Orange Printed on 7/7/2022Page 1 of 1
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