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The committee referred four budget and finance items to the City Council, including reserve policy changes, investment policy updates, general fund reserves, and maintenance reserve allocations for capital projects. It did not advance a proposal to raise the City Manager’s signing authority from $50,000 to $100,000, which failed for lack of a second.
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The committee reviewed several finance-related updates for the City of San Pablo and sent most of them to the City Council for further review. Those items covered how reserve funds are allocated, the city’s investment policy, general fund reserves, and maintenance reserve spending for needed capital projects. One proposal would have raised the City Manager’s signing authority from $50,000 to $100,000, but it did not move forward because no one seconded the motion. The committee also approved prior meeting minutes.
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