City Council

a. DISCUSSION AND CONSIDERATION OF FISCAL YEAR 2024-2026 BIENNIAL\n BUDGET\n\n Presented by Susan Kamada, Administrative Services Director\n\n RECOMMENDED ACTION: Conduct a public hearing and after discussion, consider\n adopting the five attached Resolutions for the complete implementation of the Fiscal\n Year 2024-2026 Biennial Budget. The resolutions are as follows:\n\n 1) City of Lomita’s Annual Budget for Fiscal Year 2024-2026\n 2) Annual Investment Policy Statement\n 3) Annual Appropriation Limit.\n 4) Annual Full-Time Annual Employee Compensation Plan\n 5) Annual Part-Time and Temporary Employee Compensation Plan\n\n RESOLUTION NO. 2024-22 – A RESOLUTION OF THE CITY COUNCIL OF THE\n CITY OF LOMITA, CALIFORNIA, ADOPTING THE CITY BUDGET FOR THE FISCAL\n YEAR COMMENCING JULY 1, 2024, AND ENDING JUNE 30, 2026\n\n RESOLUTION NO. 2024-23 – A RESOLUTION OF THE CITY COUNCIL OF THE\n CITY OF LOMITA, CALIFORNIA, ADOPTING A FINANCIAL INVESTMENT POLICY\n FOR FISCAL YEARS COMMENCING JULY 1, 2024, AND ENDING JUNE 30, 2026\n\n RESOLUTION NO. 2024-24 – A RESOLUTION OF THE CITY COUNCIL OF THE\n CITY OF LOMITA, CALIFORNIA CONFIRMING THE FACTORS USED FOR\n CALCULATING THE ANNUAL APPROPRIATION LIMIT FOR FISCAL YEAR\n COMMENCING JULY 1, 2024, AND ENDING JUNE 30, 2025\n\n RESOLUTION NO. 2024-25 – A RESOLUTION OF THE CITY COUNCIL OF THE\n CITY OF LOMITA, CALIFORNIA, AMENDING RESOLUTION NO. 81-56, AND\n ESTABLISHING A COMPENSATION PLAN FOR EMPLOYEES FOR THE FISCAL\n YEAR COMMENCING JULY 1, 2024, AND ENDING JUNE 30, 2026\n\n RESOLUTION NO. 2024-26 – A RESOLUTION OF THE CITY COUNCIL OF THE\n CITY OF LOMITA, CALIFORNIA, AMENDING THE PART-TIME AND TEMPORARY\n EMPLOYMENT POLICY AND COMPENSATION PLAN, ADOPTED IN RESOLUTION\n NO. 2015-34, AND ESTABLISHING AUTHORIZED POSITIONS AND A SALARY\n SCHEDULE FOR PART-TIME AND TEMPORARY EMPLOYEES FOR FISCAL YEAR\n COMMENCING JULY 1, 2024, AND ENDING JUNE 30, 2026