DATE: April 8, 2026
TO: Honorable Mayor and City Councilmembers
FROM: City Treasurer's Office
TITLE: APPOINTMENT TO THE CITIZEN INVESTMENT OVERSIGHT COMMITTEE
RECOMMENDATION
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The City Treasurer and staff recommend that the City Council accept the City Treasurer’s recommendation for appointments to the Citizen Investment Oversight Committee (CIOC).
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BACKGROUND AND ANALYSIS
The CIOC was formed in 1992 by then newly elected Treasurer Rosemary Jones, and it was made into a Brown Act committee on May 9, 2018. Members of the committee will meet on a quarterly basis to review investment operations and ensure compliance with California Code requirements. Members will act in an advisory role and will not make investment decisions.
The CIOC Bylaws, Section 2.1, states that the CIOC is composed of no fewer than five voting members and may have as many as seven members. As per the Bylaws, Section 2.2, regular members serve a term of three years. There are currently five committee members whose terms will expire on May 9, 2026.
The City Clerk’s office advertised this vacancy in accordance with City Code Section 2.1.64, and five applications were received. Four qualified applicants are selected for nomination and plan to complete full terms ending May 9, 2029.
COMMISSION OR COMMITTEE REPORT
Each candidate brings a unique blend of experience, skills and dedication to serving the residents of oceanside. The City Treasurer formally recommends the following individuals to serve on the Citizen Investment Oversight Committee:
Joseph Gallagher
Kristopher Kagan
Douglas Knudson
Kenneth Rodriguez
FISCAL IMPACT
No fiscal impact.
CITY ATTORNEY’S ANALYSIS
City Attorney analysis does not apply.
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Prepared by: Phyllis Dominguez, City Treasurer
Reviewed by: Jill Moya, Financial Services Director
Submitted by: Jonathan Borrego, City Manager
ATTACHMENTS:
1. Staff Report
2. Applications