Director of Finance at City of Rancho Palos Verdes
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The committee meeting agenda includes the nomination and selection of a Vice-Chair for the upcoming fiscal year, a quarterly presentation on treasury activities and investment reports, an update on the City's investment advisory services, a presentation on the grant application process, and a discussion regarding committee subcommittees.
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The committee meeting covered a review of the CalPERS Actuarial Valuation Report as of June 30, 2025, detailing funded status, employer contribution requirements for fiscal year 2027-28, and projections for future UAL payments. Discussions included an analysis of amortization schedules, the impact of recent investment returns, and the City's pension funding goals, including a review of the Investment Policy and grant programs.
The committee reviewed the CalPERS investment results and their impact on the City's Unfunded Accrued Liability. Presentations were held regarding current grant programs and a financial report for the Greater Portuguese Bend Landslide Complex. The committee also discussed future agenda items, including the nomination of a Vice Chair, frameworks for a financial plan to address General Fund shortfalls, and upcoming treasury activity reports. Furthermore, a report was provided concerning an upcoming City Council meeting agenda item related to the Development Impact Fee study.
The council meeting addressed public safety and the implementation of crime suppression technologies, specifically automated license plate reader cameras operating within the city. The council also reviewed and voted to participate in a joint public safety drone program in partnership with neighboring cities, authorizing the mayor to sign a memorandum of understanding to facilitate funding and operations for unmanned aircraft systems.
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