Finance & Investment Committee

Regular Meeting

  • 4:00 p.m.
  • The 1st Monday of the month
  • City Council Chambers

Agendas & Minutes

Agendas are available prior to the meetings. Minutes are available following approval.

View Most Recent Agendas and Minutes

Members

Councilmembers Roger Spreen and Michelle Wu

  • Susan Mason, Chair
    Term Expires: May 2023
  • Allan Epstein, Vice Chair
    Term Expires: October 2024 
  • Cheryl Breetwor-Evans
    Term Expires: September 2023 Stanley Mok
    Term Expires: September 2021
  • Christopher Nam
    Term Expires: May 2024
  • Medha Rishi, Secretary
    Term Expires: September 2023 Roddy Sloss
    Term Expires: September 2023
  • Chris Welborn
    Term Expires: April 2022
  • Nathan Blair
    Term Expires: June 2024

Associate Members

  • Frank Lloyd
  • Jim Lai
  • Kjell Karlsson

Committee Overview

The membership of this Committee shall consist of a minimum of 5 and a maximum of 9 members. The Mayor and Vice Mayor shall serve as non-voting Council liaisons. Members shall meet at least 1 of the following qualifications:

  • Five years accounting and financial experience in a public corporation, municipal government or privately held business
  • Financial officer of a public corporation with five years experience
  • Investment officer of a F.D.I.C. member institution with 5 years experience
  • Money manager who specializes in corporate or government agency issues with a minimum of 5 years experience
  • Five years experience in investment banking, venture capital and/or general management

The Finance and Investment Committee currently has 9 members. Five members are required for a quorum.

(updated: 9/20/2019)

Responsibilities

The charges to and duties of this committee shall be to:

a. to serve as an advisory body to the City Council on financial and investment matters and operations related thereto;

b. to review five-year capital budgets and revenue projections and make recommendations to the City Council;

c. to review the annual budget and make recommendations to the City Council;

d. to review the annual audit and make recommendations to the City Council;

e. to advise the Council on change and selection of auditors

f. to study all fiscal issues and recommend possible improvements and economies; and

g. to develop and recommend an investment Policy that protects capital, provides adequate liquidity and generate market returns at an acceptable level of risk.

h. to monitor investment performance and recommend changes as appropriate. All such recommendations shall be approved by the City Council. The City Manager shall execute any approved investment decisions.

i. to monitor pension and OPEB obligations and recommend appropriate mitigation and reserve policies.

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