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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of July 16, 1991 <br />TO: Honorable Mayor and City Council <br />FROM: Leslie Stratton, City Manager* <br />SUBJECT: Date: 7/11/91 <br />Supplemental Compensation To City Treasurer <br />BACKGROUND <br />City Ordinance No. 829, which fixes compensation for the City Treasurer, <br />assumes that this position will provide minimal treasury services and <br />that staff or consultants will provide the majority of the money <br />management services required by the City. Various Treasurers, however, <br />have had the ability and desire to provide additional services. <br />Recognizing this fact, the Council from time -to -time reviews the <br />responsibilities of the Treasurer and allocates supplemental <br />compensation. <br />DISCUSSION <br />The responsibilities of the current City Treasurer have increased <br />significantly since the Council's last review. The Treasurer currently <br />provides investment, forecasting, and money management services for the <br />City's General and Enterprise Funds. In addition, he proposes to assume <br />oversight responsibility for monies held by the five Colton Community <br />Facilities Districts. <br />FISCAL IMPACT <br />The proposed addition in salary for the City Treasurer is approximately <br />$1,000.00 per month. This amount is significantly less than the cost to <br />have staff or consultants provide the required treasury services. The <br />cost savings in consultant services alone will totally offset the <br />additional salary. <br />RECOMMENDATION <br />Approve a resolution, modifying responsibilities and compensation for the <br />City Treasurer, by title, as follows: <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF COLTON, CALIFORNIA, AFFORDING <br />SUPPLEMENTAL COMPENSATION TO THE CITY <br />TREASURER AND REPEALING RESOLUTION NO. R-60-90 <br />Attachments: Resolution <br />Page 1 of_—_ — ( Item No. <br />w LE r O..D .. �------I'll ------- <br />