HomeMy WebLinkAboutOrd 1105 Formalizing the Audit, Investment and finance CommitteeREQUEST:
DATE:
SUBMITTED BY:
CONTENTS:
Recommendation:
CITY OF PALM DESERT
FINANCE DEPARTMENT
STAFF REPORT
APPROVE ORDINANCE NO. 11o5 AMENDING SECTION
2.16.010 OF THE CODE OF THE CITY OF PALM DESERT,
CALIFORNIA, FORMALIZING THE NAME AND FUNCTION OF
THE AUDIT, INVESTMENT AND FINANCE COMMITTEE
DECEMBER 8, 2005
PAUL S. GIBSON, FINANCE DIRECTOR
ORDINANCE NO. 1105
By Minute Motion, that the City Council approve Ordinance No. 11o5
amending Section 2.16.010 of the Code of the City of Palm Desert,
California, clarifying the name of the Audit, Investment and Finance
Committee.
Background:
The current Investment and Finance Committee makes decisions recommendations
regarding investments and deposits of money as deemed by the Finance Director to be
available. Although the Committee also reviews and advises regarding City audits, the
amendment to the ordinance will formalize this duty.
Approval of this resolution will formalize the name of the Audit, Investment and Finance
Committee, and its function with regard to audit procedures.
Submitted By:
Paul S. Gibson, Director of Finance/City Treasurer
Approval:
arlo
Ortega, City Manager
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ORDINANCE NO. 1105
AN ORDINANCE OF THE CITY OF PALM DESERT, CALIFORNIA AMENDING
SECTION 2.16.010 OF THE CODE OF THE CITY OF PALM DESERT, CALIFORNIA
NOW, THEREFORE, the City Council of the City of Palm Desert, California, does
hereby ordain as follows:
Section 1: Findings
A. That Chapter 2.16 be and the same 2.16 and Section 2.16.010 be and the
same is amended to read as follows:
"Section 2.16.010 Office Created
There is established in the city an Audit, Investment and Finance
Committee composed of the Finance Director/Treasurer or Assistant Finance
Director, Deputy City Treasurer, City Manager or his designee, Assistant City
Manager for Redevelopment or his designee, two members of the City Council
appointed by the Mayor, and up to a maximum of four citizens from the
community appointed by the Mayor, subject to concurrence by the Council. The
Committee will make decisions regarding audits, investments and deposits of
money deemed by the Finance Director to be available as set forth in Chapter
2.08 of this Code."
Section 2: Publication
The City Clerk shall certify to the passage and adoption of this Ordinance and
shall cause the same to be published once in a newspaper of general circulation,
printed and published in the County of Riverside and circulated within the City of Palm
Desert, and the same shall be in force and effect thirty (30) days after its adoption.
Ordinance No. 1105
PASSED, APPROVED AND ADOPTED by the City Council of the City of Palm
Desert, California, at its regular meeting held this 10`h day of December, 2005, by
the following vote to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAMES C. FERGUSON, MAYOR
ATTEST:
RACHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA