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TORRANCE
FINANCE AND GOVERNMENTAL OPERATIONS
COUNCIL COMMITTEE
AGENDA
Thursday, March 12, 2026
REGULAR MEETING
5:00 P.M.
LeROY J. JACKSON COUNCIL CHAMBER
3031 TORRANCE BLVD.
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Manager’s office at (310) 618-5880. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting. [28CFR35.102-35.104 ADA Title II]
Direct questions or concerns to the City Council at (310) 618-2801, City Manager at (310) 618-5880, or the individual department head prior to submission to the City Council. Parties will be notified if the complaint will be included on a subsequent agenda.
PARTICIPATE BEFORE THE MEETING by submitting a public comment on the OneMeeting Public Portal at https://torranceca.primegov.com/public/portal?fromiframe=true. Hard copies of public comment may be submitted to the City Clerk’s Office during regular business hours. All comments submitted before 5:30 p.m. on Wednesday, March 11, 2026, will be published for public review prior to the meeting. Comments received after the deadline, but prior to the adjournment of the meeting will be added to the record.
The agenda was posted on the Public Notice Board at 3031 Torrance Blvd and on the City’s Website on Thursday, March 5, 2026 /s/ Rebecca Poirier
1. CALL TO ORDER
Aram Chaparyan, City Manager
ROLL CALL: ____ Chair Kaji ____ Kalani ____ Sheikh
2. PLEDGE OF ALLEGIANCE
Councilmember Sheikh
3. WELCOME AND INTRODUCTIONS
Councilmember Kaji, Chair
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4. CONSENT CALENDAR
Matters listed under the Consent Calendar are considered routine and will be enacted by one motion and one vote.
There will be no separate discussion of these items. If discussion is desired, that item will be removed by a Committee member from the Consent Calendar and considered separately.
4A. Finance – Approve the Finance and Governmental Operations Committee Meeting Minutes.
Expenditure: None.
Recommendation of the Finance Director that the Finance and Governmental Operations Committee approve the meeting minutes of December 11, 2025.
5. ADMINISTRATIVE MATTERS
Ian Dailey, Finance Director
5A. Finance – Accept and File Annual Comprehensive Financial Report for Fiscal Year Ended 2024-2025.
Expenditure: None.
Recommendation of the Finance Director that the Finance and Governmental Operations Committee:
1. Accept and file the Annual Comprehensive Financial Report for the Fiscal Year Ended 2024-2025; and
2. Recommend to City Council to accept and file the Annual Comprehensive Financial Report for the Fiscal Year Ended 2024-2025.
5B. Finance – Accept and File Fiscal Year 2025-26 Mid-Year Budget Review Report and Approve Proposed Fiscal Year 2025-26 Mid-Year Program Modifications and Budget Adjustments. Expenditure: $31,954 (General Fund).
Recommendation of the Finance Director that the Finance and Governmental Operations Committee:
1. Accept and file the Fiscal Year 2025-26 Mid-Year Budget Review Report; and
2. Approve the proposed program modifications in the fiscal year 2025-26 operating expenditure budget in the amount of $31,954 in the General Services Department; and
3. Approve the proposed increase to the Airport Fund’s fiscal year 2025-26 operating expenditure budget in the amount of $4,500,000; and
4. Approve the proposed increase to the Self-Insurance Fund’s fiscal year 2025-26 operating expenditure budget in the amount of $2,000,000; and
5. Recommend to City Council to accept and file the Fiscal Year 2025-26 Mid-Year Budget Review Report; and
6. Recommend to City Council the approval of the proposed fiscal year 2025-26 Mid-Year program modifications and budget adjustments.
6. ORAL COMMUNICATIONS
This portion of the meeting is reserved for comment on items not on the agenda or on topics of general interest to the public that are within the subject matter jurisdiction of the Finance and Governmental Operations Council Committee. Under the Ralph M. Brown Act, the Finance and Governmental Operations Council Committee cannot act on items raised during public comment but may respond briefly to statements made or questions posed; request clarification; or refer the item to staff. No more than 2 minutes per speaker. If presenting handout material to the Committee, please provide 5 copies to staff before speaking.
7. CLOSING REMARKS
Aram Chaparyan, City Manager
8. ADJOURNMENT
Councilmember Kaji, Chair