August 19, 2025
Finance Department
DATE: August 19, 2025
TO: Mayor Martinez and Members of the City Council
FROM:
Shasa Curl, City Manager
Emily Combs, Director of Finance
Mubeen Qader, Deputy Director of Finance
Jerry Gurule, Accounting Manager
Subject:
Annual Review and Update of Financial Policies
FINANCIAL IMPACT: There is no fiscal impact for receiving this item.
PREVIOUS COUNCIL
ACTION:
None.
STATEMENT OF THE
ISSUE:
City staff are providing the City Council and the
community with updated Financial Policies
RECOMMENDED ACTION: APPROVE a resolution adopting updated Financial Policies - Finance Department (Emily Combs 510-620-
6790/Mubeen Qader 510-412-2077/Jerry Gurule 510-
620-6591).
DISCUSSION:
The Finance Department has undertaken a comprehensive review of our existing Financial Policies to ensure policies align with the California Government Code, Government Finance Officers Association (GFOA) recommended best practices, and standards set forth by the California Municipal Treasurers Association (CMTA). These policies serve as essential guidelines for City Staff, ensuring adherence to financial standards across all operational facets.
AGENDA
REPORT
August 19, 2025
GFOA recommends governments formally adopt financial policies and review annually as part of the budget process. Following our assessment, we have identified no policies that require material updates.
DOCUMENTS ATTACHED:
Attachment 1 – Guiding Fiscal Policy
Attachment 2 – OPEB Funding Policy
Attachment 3 – Pension Funding Policy
Attachment 4 – Cash Reserve Policy
Attachment 5 – Debt Policy
Attachment 6 – Grant Management Policy
Attachment 7 – Investment Policy
Attachment 8 – Unclaimed Funds Policy
Attachment 9 – Purchasing Policy
Attachment 10 – Employee Meal and Food Policy
Attachment 11 – Travel Expense Policy and Procedures
Attachment 12 – FasTrak Policy and Procedures
Attachment 13 – Accounts Payable ACH Policy
Attachment 14 – Resolution Adopting Financial Policies