Laguna Beach Citizens' Audit Review and Investment Advisory Committee - February 26, 2024

February 26, 2024

Executive Summary

- The Citizens' Audit Review and Investment Advisory Committee met on February 26, 2024, at the Laguna Beach Community & Susi Q Center to discuss fiscal oversight matters. - The Committee reviewed and approved draft minutes from the December 4, 2023 regular meeting. - Staff provided an update on the summary report regarding the results of the Fiscal Year 2021-22 Audit. - The Committee discussed preparing a report for the City Council summarizing the results of the Request for Proposal (RFP) procurement process and the Subcommittee's findings on investment portfolio management. - The Committee considered recommendations on whether to outsource the management of the City's investment portfolio or continue with the existing management approach. - Public communications time was provided for members of the public to address the Committee on items not on the agenda, limited to three minutes per speaker. - The agenda indicated that written public comments could be submitted via mail or email to Staff Liaison J. Nemes at jnemes@lagunabeachcity.net at least seven days before the meeting.

Key Decisions

- Approved draft minutes from the December 4, 2023 regular meeting (agenda item 2.1).