Finance and Governmental
Alexis Motonaga Operations Committee
Recording Secretary February 27, 2024
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TORRANCE CITY COUNCIL
FINANCE AND GOVERNMENTAL OPERATIONS COMMITTEE
AGENDA TUESDAY, FEBRUARY 27, 2024
2:30 P.M. IN LeROY J. JACKSON
COUNCIL CHAMBER AT 3031
TORRANCE BL.
THE FINANCE AND GOVERNMENTAL OPERATIONS
COMMITTEE MAY TAKE ACTION ON ANY ITEM
LISTED ON THE AGENDA
1. CALL MEETING TO ORDER Councilmember Kaji, Chair
ROLL CALL: Chair, Kaji, Griffiths, Sheikh,
Aram Chaparyan, City Manager
2. FLAG SALUTE Councilmember Griffiths, Member
3. WELCOME AND INTRODUCTIONS Councilmember Kaji, Chair
4. REPORT OF STAFF ON THE POSTING OF THE AGENDA
5. CONSENT CALENDAR
5A. Approve Meeting Minutes of January 9, 2024.
Recommendation of the Finance Director that the Finance and Governmental Operations Committee approve the meeting minutes of January 9, 2024.
6. ADMINISTRATIVE MATTERS Sheila Poisson, Finance Director
6A. Accept and File Fiscal Year 2023-24 Mid-Year Budget Review Report. Expenditure:
None.
Recommendation of the Finance Director that the Finance and Governmental Operations Committee:
1) Accept and file the Fiscal Year 2023-24 Mid-Year Budget Review Report; and 2) Recommend to City Council to accept and file the Fiscal Year 2023-24 Mid-Year Budget Review Report.
Finance and Governmental
Alexis Motonaga Operations Committee
Recording Secretary February 27, 2024
6B. Approve Proposed Fiscal Year 2023-24 Mid-Year Program Modifications.
Expenditure:$499,528 (General and Non-General Fund).
Recommendation of the Finance Director that the Finance and Governmental Operations Committee:
1) Approve the proposed program modification in the City Clerk’s fiscal year 2023- 24 General Fund operating budget in the amount of $2,474 per year; and 2) Approve the proposed program modification in the City Manager’s fiscal year 2023-24 General Fund operating budget in the amount of $85,427 per year; and
3) Approve the proposed program modification in the Community Services Department’s fiscal year 2023-24 General Fund operating budget in the amount of $54,723 per year; and
4) Approve the proposed program modification in the Finance Department’s fiscal year 2023-24 General Fund operating budget for a savings of $54,332 per year; and
5) Approve the proposed program modification in the Finance Department’s fiscal year 2023-24 Self-Insurance Fund operating budget in the amount of $78,557 per year; and
6) Approve the proposed program modification in the General Services Department’s fiscal year 2023-24 General Fund operating budget in the amount of $54,339 per year; and
7) Approve the proposed program modification in the Police Department’s fiscal year 2023-24 General Fund operating budget in the amount of $278,340 per year; and
8) Approve the proposed increase to the Section 8 Housing Fund’s fiscal year 2023-24 operating revenue budget in the amount of $850,000; and 9) Approve the proposed increase to the Section 8 Housing Fund’s fiscal year 2023-24 operating expenditure budget in the amount of $850,000; and 10) Recommend to City Council to approve the proposed fiscal year 2023-24 mid-year program modifications.
6C. Accept and File Annual Comprehensive Financial Report for Fiscal Year Ended 2022-2023. Expenditure: None.
Recommendation of the Finance Director that the Finance and Governmental Operations Committee accept and file the Annual Comprehensive Financial Report for the Fiscal Year Ended 2022-2023.
7. ORAL COMMUNICATIONS (Limited up to a 15-minute period)
8. CLOSING REMARKS Aram Chaparyan, City Manager
9. ADJOURNMENT Councilmember Kaji, Chair
Approved as submitted
December 16, 2024
s/ Rebecca Poirier, City Clerk