CC RES 1993-021RESOLUTION NO. 93 - 21
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF RANCHO PALOS VERDES
ESTABLISHING THE DUTIES OF
THE LONG RANGE FINANCE COMMITTEE
AND RESCINDING RESOLUTION NO. 92 - 80.
WHEREAS, the City of Rancho Palos Verdes has traditionally
provided a reasonable level of service to its residents despite a
limited tax base; and
WHEREAS, the costs of City services have increased at a rate
exceeding available revenues used to provide these services; and
WHEREAS, in recent years, the State of California has been
retaining historic city revenues or transferring such revenues to
other governmental agencies; and
WHEREAS, these conditions require additional long range financial
strategies, therefore, the City established a Long Range Finance
Advisory Committee in July, 1992; and
WHEREAS, there is the need to define the mission and duties of
the Long Range Finance Committee.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Mission. The objective of the Long Range
Finance Committee is to advise the City Council long term
financial strategies through the review of revenue sources,
capital improvement needs and the long term service needs of the
community.
Section 2, Membership. The Long Range Finance Committee
shall be comprised of not less than five (5) members who shall be
appointed by and serve at the pleasure of the City Council. The
initial term of office shall continue until December, 1993.
Subsequent appointments shall be made in December, 1993 and bi-
annually thereafter. Should any vacancy exist on the Long Range
Finance Committee, any replacement shall be made in a like manner
for the unexpired portion of the term. The City Manager, or his
designee, shall serve as an ex- officio member of the Committee.
Section 3. Organization, The City Council shall appoint a
chairperson. The Long Range Finance Committee shall annually
appoint a Vice- Chairperson from among its members in January.
Official records of the Committee's meetings shall be filed with
the City Clerk.
Section 4. Responsibilities. The Long Range Finance
Committee shall address long range financial programs and
policies and have the following responsibilties:
(a) Annually review and recommend to the City Council
priorities of the Capital Improvement Program.
(b) Review City's current and anticipated revenue sources
and, when appropriate, advise City Council on alternative
revenue sources to sufficiently provide service and programs
established by the Council.
(c) Based upon information gathered, submit to the City
Council for consideration a Long Range Finance Plan which
includes projections of revenues and expenditures based on
Council accepted policies and, thereafter, annually prepare
an update to the plan identifying areas of concern and
providing recommendations in accordance with the mission
objective.
(d) Advise City Council on methods to inform the public on
the City's financial resources and assist the City Council
in providing public education when requested.
(e) The Long Range Finance Committee is not responsible for
an annual review of the audit or other related financial
statements to evaluate short term, routine expenditures, nor
responsible for participating in the annual budget
preparation process.
(f) Advise City Council on additional financial issues when
directed by the City Council from time to time.
Section 5. Previous References to Committee Rescinded,
Resolution 92 - 80, establishing the Long Range Finance Committee
is hereby rescinded.
PASSED, APPROVED, AND ADOPTED
ATTEST:
C I Y CLERK
State of California
County of Los Angeles
City of Rancho Palos Verdes
I, JO PURCELL, City Clerk of
hereby certify that the above
regularly passed and adopted
regular meeting thereof held
OF MARCH, 1993,
SS
the City of
Resolution
by the said
on March 2,
09/-� 4J
CITY CLERK
CITY OF RA]
-2-
Rancho Palos Verdes,
No. 93 -21 was duly and
City Council at a
993.
9CHO PALOS VERDES
RESOL. NO. 93 -21