CC RES 1992-080RESOLUTION. NO"-* 92 80
RESOLUTION OF THE CITY COUNCI-1j-1
OF
....,_.THE -iCITY OF RANCHO - PALOS VERDE
ESTABLISHING A LONG RANGE FINANCE COMMITTEE,
WHEREAS, the City of -Rancho Palos Verdes has tradi tionally. provided
a.reasonab.le,level.Lof services�.to
its residb`hts-de8 piti6 -a limited
'
tax base* and
WHEREAS 'the
costs of Pity.services have increased faster -than the
revenu uses: to..
es us -these services',w-andz.....
Provide
WHEREAS, over the past several year the State • of Ca 11 forn i a has
been transferring revenues. which the he C , tY:, f- - Rancho Pa Verdes
1 0 los
n
has depended .0 t'
e. - o other levels.of-,� government, further r
educ 1 ng the
City,18 revenue b-' i'.and
WHEREAS, these conditions require additional f inancial planning,
with I.ty '. I.. o. I 't
-greater
input.,1from the community
NOW THEREFORE,, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES
DOES HEREBY RESOLVE AS FOLLOWS:
Sec tion.1-, Creation of Long Range Finance gomm,
shall.-be-, and there is h eg There
hereby established, an advisory committee to
be known and designated as the Long Range Finance Committee,
Section_ 2 Members The Long Range Finance Committee shall be
comprised of not less than seven ( 7 ) members who shall be appointed
by and serve at the pleasure of the City Council. The term of
office shall begin upon appointment by. the City -Council and
continue until December, 1993. Subsequent appointments shall be
made in December,, 1993 and -annually bi ally thereafter, Should any
vacancy exist on the Long Range Finance Committee 4 an a ipqi,tm . 7t`
e n''
shall be made in a like manner f or the unexpired.'. rt a ,
n
pox lon- of 'the
term, The City Manager, or his designee,:,., shall I Isery as an ex6oft
officio member of the Committee,
,Sectign, 3,, le The Long. -Range Finance'.Co�'* sha ll have
_Qut mmittee'
the following duties'.
(1) Review the City's "'annual • audit and,, if deemed
appropriate, shall make comments to City Council g #
regardin
said report,
(2) Adv i se, the C i I ty Council on the City's capital improvement
needs and assist in prioritizing those needs.
(3) Advise the City Council on general priorities regarding
the use of the City's tax and other revenue proceeds,
(4) With assistance from staff, review the City's revenue
sources and advise the City Council on ways in which the
City's revenue base may be rdaintair e& or expanded.
(5) Assist the City Council ire an or ,,go ir effort to educate
the public on-the City's f nancial - resources and condition.
(6) Advise the City Council on additional financial .
1 x slues as
directed by City Council from time to time.
:Section : '4 ., n � The C st "Council 1 ,
.�.J.Qraani anon Y shall a o.nt the
pP
Chairperson. The Long Range Finance Committee -
� e shah. appoint a
'ice- Chairperson from among its members, at its f irst
organizational,. meeting and la:nnually`, thereafter starting; in J:anuary,
1994 ,A official records , of . the Commit -tee's meetin s shall be
�' filed
with the City Clerk,
Se ' on 5 f � ren fi.. es tw- Previous Come itte mi -
. es E1 na fed .
soltrt �►.n 92 -23 and any , previous actions- .of
I� C',ty. Counc�1
establis ing a similar financial.
advisor y committee 'are hereby
PASSED, APPROVED, AND ADOPTED-,THIS � 21ST' *DAY --C3�' JUDY " . 5
� 9 2 .
F
ATTEST .
State of California,, �
Count
y o . geles
e
SS
City of Rancho. ,Paloseres.
It J4 PURCELL, City Clerk of The City of Rancho Palos.. Verdes
hereby ,'ce..rti.fy that' the .::above -ResolUt -ion Ito 92 -` 80 was dul:
y
and regularly passed and adopted by the said City - 'Couhc11 at
a regular meeting thereof held on my 2 1992._
CITY ERIi
CITE' F RANCHO PALOS VERDES