City’s Finance Committee to Meet in Special Meeting Thursday

The Pasadena City Council’s Finance Committee will hold a special meeting via video conference or teleconference on Thursday, May 28, to discuss three important issues.

Matters on the agenda include a proposed contract for audit services for fiscal years 2020 to 2022, amendments to the 2020 adopted operating budget, and amendments to the 2020 Capital Improvement Program budget, among others.

Discussions will also touch on the recommended operating budget for fiscal year 2021, as well as financial matters related to the Rose Bowl Operating Company (RBOC), according to the agenda.

The Department of Finance is recommending a contract with White Nelson Diehl Evans LLP to perform annual audits of the financial statements for the city, the successor to the Pasadena Community Development Commission, the Rose Bowl Operating Company, the Pasadena Center Operating Company, Pasadena Community Access Corporation, the City’s Air Quality Improvement fund, the Housing Successor fund, and the Foothill Workforce Development Board fund.

The contract shall be for a period of three years at $678,260, with a two-year extension for 2023 and 2024.

The City Charter mandates employ a certified accountant to examine the city’s records and report the findings to the City Council. The contract is place up for bid every three to five years.

At the special meeting, Finance Director Matthew Hawkesworth is expected to present supplemental information for the fiscal year 2021 operating budget.

A preliminary report from the Finance Department showed that assumed revenue losses due to the COVID-19 impacts were estimated to be around $10.8 million. Since the budget figures were submitted, the estimated revenue loss has grown to $13.8 million, owing to expected losses related to the City’s Transient Occupancy Tax, the report showed.

The public meeting begins at 2 p.m. In accordance with Gov. Gavin Newsom’s executive order, the meeting will be through video conference or teleconference only.

To access the meeting, interested Pasadena residents are advised to visit www.pasadena.granicus.com/MediaPlayer.php?publish_id=9 and www.pasadenamedia.org.

Members of the public may submit comments up to two hours before the start of the meeting, through email at gacevedo@cityofpasadena.net. During the meeting itself, they may also submit comments of up to 200 words regarding items on the agenda through www.cityofpasadena.net/commissions/public-comment.