City of Palo Alto I 250 Hamilton Avenue, Palo Alto, CA. I www.cityofpaloalto.org
ATTACHMENT B
FINANCE COMMITTEE TENTATIVE TOPICS
CALENDAR 2024
As of February 22, 2023
See the end of the document for information on the completed 2023 referrals as well as the outstanding and on hold referrals to date.
January
• Mayor appoints Committee and designates Chair; usually no FC meeting
February
• Preliminary Review of Utilities Advisory Commission Rate Forecasts and Financial Plans: Gas, Electric, Water, Wastewater Collection
March
• Council Referral: Allocation of General Fund for Human Services Resource Allocation Process (HSRAP) [tentative]
April
• Utilities Advisory Commission Rate Forecasts and Financial Plans: Gas, Electric, Water, Wastewater Collection
• Rate Schedule Storm Water Management Fee
• Council Referral: Junior Museum & Zoo (JMZ) organizational review and pricing changes [tentative]
May
• Annual Budget Review: Operating + Capital Five Year Plan • Daytime meetings, tentative schedule 5/7, 5/8, and 5/21 or 5/28 • Fiscal Year 2024 Municipal Fee Schedule
• Retiree Healthcare Plan and Annual Actuarially Determined Contributions (ADC)- Biannual report
June
• Third Quarter Fiscal Year 2024 Financial Report
• Adoption of Fiscal Year 2024 Investment Policy (to be done by June 30 per code)
City of Palo Alto I 250 Hamilton Avenue, Palo Alto, CA. I www.cityofpaloalto.org
ATTACHMENT B
July
No meeting; Council Break
August
September
• Accept California Public Employees’ Retirement System (CalPERS) Pension Annual Valuation Reports as of June 30, 2023
• Every 3-4-year review/decision on pension funding policy assumptions next review scheduled for FY 2026.
October
• Planning and Development Services Fee Study [tentative]
November
• Discussion and Recommendation to the City Council to Accept the Macias Gini & O'Connell's Audit of the City of Palo Alto's Financial Statements as of June 30, 2024 and Management Letter
• Discussion and Recommendation to Approve the Fiscal Year (FY) 2024 Comprehensive Annual Comprehensive Financial Report (ACFR) and Approve Budget Amendments in Various Funds
December
• Review and Forward the FY 2026 - FY 2035 Long Range Financial Forecast • First Quarter Fiscal Year 2025 Financial Report
• Informational: Report out on Status of Committee Referrals
Referred Topics:
A full report on the status of Finance Committee referrals and the status can be found here1, Item 1 on the December 5, 2023 agenda.
1) COMPLETED: Evaluation of Printing & Mailing Services levels and service delivery. 2) COMPLETED: Dialogue with PAUSD regarding cost-sharing for mutual activities 3) PENDING: Parking Permits Pricing and Parking Permit Funds Financial Status. Staff initiated, review is expected to begin in FY 2025.
1 Finance Committee, December 5, 2023, Item #2, CMR #2307-1794:
https://cityofpaloalto.primegov.com/meetings/ItemWithTemplateType?id=2874&meetingTemplateType=2&comp iledMeetingDocumentId=8595