AGENDA TITLE:
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Adopt a Resolution Repealing and Replacing the Finance Committee Resolution to Update Committee Membership, Objectives, and Appointment Guidelines (IS-FIN)
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MEETING DATE:
August 19, 2026
PREPARED BY:
Jamie Bandy, Administrative Services Director
recommendation
RECOMMENDED ACTION:
Adopt a Resolution repealing the existing Finance Committee resolution and replacing it with an updated resolution revising the committee membership, objectives, and appointment guidelines.
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BACKGROUND INFORMATION:
At its August 20, 2025, meeting, the City Council adopted a resolution establishing the Finance
Committee as a standing advisory committee to provide recommendations to the City Council on
matters related to financial policies, internal controls, investments, annual financial reporting, and
budget policy. The Committee currently consists of two City Council members and one Lodi
resident with financial expertise.
Since the Committee's establishment, staff has evaluated the Committee's structure and identified an opportunity to strengthen its effectiveness by expanding its community representation from one to three members. Increasing the number of community members will provide additional financial expertise, broader community representation, and a greater diversity of perspectives when reviewing complex financial matters. The expanded membership will also enhance the Committee's ability to provide thoughtful recommendations to the City Council while maintaining its advisory role.
The proposed resolution repeals the existing Finance Committee resolution and replaces it with an updated resolution that maintains the Committee's purpose and responsibilities while revising its membership composition. Under the proposed structure, the Committee will consist of five members: two City Council members appointed by the City Council and three members that are either Lodi residents or individuals who work or own a business in Lodi who possess education, experience, or professional expertise in finance, accounting, budgeting, auditing, banking, investments, or related fields.
The proposed resolution also updates and reorganizes the Committee's appointment guidelines and operating provisions for clarity. The Committee will continue to function as a standing advisory body subject to the Ralph M. Brown Act, the Lodi Municipal Code, applicable City Council policies, and state law. Its responsibilities remain focused on providing advice and recommendations to the City Council regarding internal controls, financial policies, investments, annual financial statements, and budget policy matters.
Approval of the proposed resolution will repeal the existing Finance Committee resolution and establish the revised committee structure effective immediately.
If approved, staff will return to the City Council with an appointment process and recommendations for filling the two additional community member positions.
FISCAL IMPACT:
There is no significant fiscal impact associated with this action. Expanding the Committee membership may result in minimal additional administrative support costs related to meeting coordination and recruitment of new members. The Finance Committee will continue to provide advisory oversight and recommendations that support sound financial management and governance.
FUNDING AVAILABLE:
Not applicable.