HomeMy WebLinkAboutStaff Report 03/12/2001 (12) 11
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CITY OF PETALUMA, CALIFORNIA
• MEMORANDUM
Finance Department, II English Street,Petaluma,CA 94952
707-778-4352 Fax 707-778-4428 E-mail;ftnance(a)crpetaluna.ca.us
DATE: March 2, 2001
TO: Fred Stouder, City Manager
FROM: William J. Thomas, Finance Director
SUBJECT: Discussion and Possible Direction Regarding Appointment of Citizen Advisory
Committee for City Investment Policy
The creation of a Citizen Advisory Committee for Investment:Policy would provide assistance to
the City Treasurer in managing,,the City's investmentportfdlio.
I have had experience with,this;.type,of committee and have found that quarterly meetings of this
group were sufficient to provide adequate assistance to the appointed Treasurer. Depending on
40/ the needs of this group it is estimated that staff would have to spend approximately five hours
each quarter preparing for and meeting with the committee. Based on existing rates the cost to
the.City would be approximately $250.
Based on my prior experience and considering the limitations-that exist in our investment
options, I would not recommend meetings of this group occur more than on a quarterly basis.
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