Santa Barbara Municipal Code Ch. 2.06 Finance Committee

A standing Finance Committee composed of three members of the City Council is established.

(Ord. 6097 §1, 2023)

The members of the Finance Committee shall be appointed by the City Council for a specific or indefinite term. The City Council shall designate one of its members as the Chairperson of said Committee. The City Council may remove or reassign members of the Finance Committee by motion, with or without cause.

(Ord. 6097 §1, 2023)

The Finance Committee shall receive reports from the City Administrator and Finance Director, and make recommendations to the City Council, upon matters that have a substantial budgetary or financial impact on the City. These matters will include, but shall not be limited to, the following:

A. Debt financing;

B. Affordable housing loans;

C. New, or changes to existing, department fees and charges;

D. Consideration of tax or other revenue generating measures;

E. Significant appropriation requests where: (1) multiple funding options may exist and should be considered; and/or (2) the request requires the use of reserves, which would reduce the fund's reserve level below the City Council policy target;

F. Budget development topics;

G. Annual Comprehensive Financial Report (ACFR);

H. Quarterly financial update reports; and

I. Annual investment report.

(Ord. 6097 §1, 2023)

Meetings of the Finance Committee shall be open and public pursuant to City Charter Section 510 and the Ralph M. Brown Act, Government Code Sections 54950, et seq., as it may be amended from time to time.

(Ord. 6097 §1, 2023)

The City Administrator or Finance Director shall report the recommendations of the Finance Committee to the City Council.

(Ord. 6097 §1, 2023)