DATE: March 12, 2025
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 an appointment to the Citizen Investment Oversight Committee (CIOC).
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BACKGROUND AND ANALYSIS
The CIOC was formed in 1992 by newly elected Treasurer Rosemary Jones, and it was made into a Brown Act committee on May 9, 2018.
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 six committee members and one vacancy.
The City Clerk’s office advertised this vacancy in accordance with City Code Section 2.1.64, and four applications were received. One qualified applicant is selected for nomination and plans to complete the term ending May 9, 2026.
FISCAL IMPACT
No fiscal impact.
COMMISSION OR COMMITTEE REPORT
The Citizen Investment Oversight Committee applicant with my recommendation for appointment is as follows:
Douglas Knudson
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