Title
ACCEPT: Finance Committee Meeting Highlights of July 6, 2012
COMMITTEE RECOMMENDATION: Approval of the 2012-13 Investment Policy
COMMITTEE RECOMMENDATION: Schedule approval of selected candidates for the Citizen Oversight Committee as related to Measure Z
Body
CITY OF SAN LEANDRO
CITY COUNCIL FINANCE COMMITTEE
July 6, 2012
8:30am - 10:00am
San Leandro City Hall
835 East 14th Street
San Leandro, California
(Sister Cities Gallery)
HIGHLIGHTS
Committee Members: Councilmember Cutter and Councilmember Prola
City Staff Present: City Manager Zapata, Assistant City Manager Marshall, Finance Director Baum, City Clerk Handa, Deputy Finance Director Rodriguez, Budget and Compliance Manager Perini
Public Present: Chris Crow
The meeting was called to order at 8:32 a.m.
Agenda item No. 2 was moved to No. 1 and discussed first.
1. Investment Policy Annual Review continued
Finance Director Baum presented the draft of the Investment Policy, as it was presented at the June 1, 2012 Finance Committee meeting. Mr. Baum answered the concerns raised by the Committee in June regarding regulation compliance as well as investments in Corporate Notes. Mr. Baum recommends staying with the current policy as presented and asked that the Finance Committee review the quarterly reports and make recommendations to investments at that time. Mr. Baum stated that the City is working to invest in local companies.
Finance Committee Recommendation
The Committee recommends Council approval of the Investment Policy.
2. Continued Discussion Regarding Recruitment of Members of the Citizen Oversight Committee Related to Measure Z
Mr. Baum provided copies of the 11 qualified applications. Out of the five recommended criteria, four were met. There were no applications received for a member of the Retail Downtown Business Association. Councilmember Cutter stated her concern of having seen the same people sit on several different committees and therefore kept that in mind when se...
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