Laguna Beach Citizens' Audit Review and Investment Advisory Committee - March 4, 2024

March 4, 2024

Executive Summary

- The Citizens' Audit Review and Investment Advisory Committee met on March 4, 2024, at 6:00 PM in the Community Room of the Community and Susi Q Center to review the Fiscal Year 2021-22 audit results and discuss the management of the City's investment portfolio. - The Committee was tasked with approving a summary report on the results of the Fiscal Year 2021-22 audit and preparing a report for submission to the City Council. - Discussions continued regarding the results of a Request for Proposal (RFP) process for management of City investments, with the RFP Ad Hoc Committee providing recommendations. - The Committee discussed whether to recommend outsourcing the management of the City's investment portfolio or continuing with the existing management approach, with an Ad Hoc Committee to be appointed to prepare a report for City Council. - The meeting included standard agenda items including approval of minutes from the February 26, 2024 meeting, public communications, and committee and staff reports. - Members of the public were given the opportunity to address the Committee on items not on the agenda, with a three-minute presentation limit. - The Committee advanced work on multip

Key Decisions

- No specific decisions were documented in the agenda materials provided. The agenda indicates items for discussion and action but does not include meeting minutes or outcome documentation.