Reso. No. _____
RESOLUTION NO. ______
A RESOLUTION OF THE COUNCIL OF THE CITY OF RICHMOND,
CALIFORNIA ADOPTING UPDATES TO THE CITY OF RICHMOND'S
FINANCIAL POLICIES AND ADOPTING THE UNCLAIMED FUNDS POLICY
WHEREAS, the City of Richmond (the "City") is a charter city that operates under the Council-Manager form of government for the purposes of providing a full range of municipal services including police and fire protection; construction and maintenance of highways, streets and infrastructure; library services; storm water and municipal sewer systems; a wastewater treatment facility; and the administration of recreational activities and cultural events; and
WHEREAS, the City also operates the Richmond Memorial Convention Center and the Port of Richmond; and
WHEREAS, the City of Richmond (the "City") is required to maintain and periodically update the City's Financial Policies consistent with the standards set forth by the California Government Code, Government Finance Officers Association (the “GFOA”) recommended best practices, and standards set forth by the California Municipal Treasurers Association (the "CMTA") Certification Program; and
WHEREAS, the City has reviewed the City’s Financial Policies as attached hereto as Exhibit A, that includes the Guiding Fiscal Polic y, Other Post Employment Benefit ( OPEB) Funding Policy, Pension Funding Policy, Cash Reserve Policy, Debt Policy, Grant Management Policy, Investment Policy, Unclaimed Funds Policy, Purchasing Policy, Employee Meal and Food Policy, Travel Expense Policy an d Procedure, FasTrak Policy and Procedures, and Accounts Payable Automated Clearing House (ACH) Policy; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Richmond, California, hereby adopts the City’s Financial Policies as attached hereto as Exhibit A, that includes the Guiding Fiscal Policy, OPEB Funding Policy, Pension Funding Policy, Cash Reserve Policy, Debt Policy, Grant Management Policy, Investment Policy, Unclaimed Funds Policy, Purchasing Policy, Employee Meal and Food Polic y, Travel Expense Policy and Procedure, FasTrak Policy and Procedures, and Accounts Payable ACH Policy.
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Reso. No. _____
I certify that the foregoing resolution was passed and adopted by the City Council of the City of Richmond at a regular meeting thereof held on March 17, 2026, by the following vote:
AYES: AYES:
NOES:
ABSTENTIONS:
ABSENT:
CLERK OF THE CITY OF RICHMOND
(SEAL)
Approved:
Mayor
Approved as to form:
City Attorney
State of California }
County of Contra Costa : ss.
City of Richmond }
I certify that the foregoing is a true copy of Resolution No. _____, finally passed and adopted by the City Council of the City of Richmond at a regular meeting held on March 3, 2026.
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Pamela Christian, Clerk of the City of Richmond