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�� CITY OF HUNTINGTON BEACH
City Council Interoffice Communication
To: Honorable Mayor and City Council Members
From: Erik Peterson, City Council Member
Date: February 13, 2017
Subject: CITY COUNCIL MEMBER ITEM FOR THE FEBRUARY 21, 2017,
CITY COUNCIL MEETING — REVIEW OF THE DOWNTOWN BID'S
FINANCIAL STATEMENTS
STATEMENT OF ISSUE:
As the regulating authority over the Downtown Business Improvement District (BID), it is
the City's responsibility to ensure the validity and integrity of the organization. This
process usually takes place once a year at a City Council Meeting when the BID is up
for reauthorization. In light of some concerns, an internal review by the Finance
Commission is being recommended.
RECOMMENDED ACTION:
Direct the Finance Commission to review the past three (3) years of finances of the
Downtown BID and further if they deem necessary. Return to the City Council and the
BID any findings and recommendations. The Downtown BID shall turn over all
financials, statements, and reports that the Commission may require to perform their
review. The Finance Commission may create sub -committees and/or schedule
additional meetings to complete this request in a timely manner.
Xc: Fred Wilson, City Manager
Ken Domer, Assistant City Manager
Robin Estanislau, City Clerk
Lori Ann Farrell, Chief Financial Officer
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