HomeMy WebLinkAbout2025-10-21 Finance Committee Action MinutesFINANCE COMMITTEE
ACTION MINUTES
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Regular Meeting
October 21, 2025
The Finance Committee of the City of Palo Alto met on this date in the Community Meeting
Room and by virtual teleconference at 5:30 PM.
Present In-Person: Burt (Chair), Lythcott-Haims, Reckdahl
Absent:
Call to Order
Public Comment
Agenda Items
1. Review Risk Management and Insurance Program, Including Funding Status of the General
Liability Fund and Recommend the City Council Approve Amendments in the FY 2026
General Liability Fund Budget; CEQA Status - Not a Project
MOTION: Councilmember Burt moved, seconded by Councilmember Lythcott-Haims, to
recommend the City Council amend Fiscal Year 2026 Budget Appropriation for the General
Liability Fund within the Mid-Year Report with the following referrals to staff:
1. Evaluate increased liability insurance for cybersecurity and earthquake
2. Add tort reform to proposed 2026 legislative guidelines
3. Request that staff conduct systematic claims analysis and mitigation strategy
4. Request staff update the City Council on risk management and safety policies
5. Evaluate adequacy of senior safety positions throughout the organization
MOTION PASSED: 3-0
ACTION MINUTES
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Finance Committee Meeting
Action Minutes: 10/21/2025
2. Investment Advisory Services Overview
NO ACTION TAKEN
Future Meetings and Agendas
Adjournment: The meeting was adjourned 8:10 P.M.