HomeMy WebLinkAbout2026-05-19 Finance Committee AgendaFINANCE COMMITTEE
Special Meeting
Tuesday, May 19, 2026
Community Meeting Room & Hybrid
1:00 PM
Amended Agenda
Agenda Items Reordered, Title Updated
Finance Committee meetings will be held as “hybrid” meetings with the option to attend byteleconference/video conference or in person. Information on how the public may observe andparticipate in the meeting is located at the end of the agenda. The meeting will be broadcast onCable TV Channel 76, live on YouTube https://www.youtube.com/c/cityofpaloalto, and streamedto Midpen Media Center https://midpenmedia.org.
VIRTUAL PARTICIPATION CLICK HERE TO JOIN (https://cityofpaloalto.zoom.us/j/99227307235)
Meeting ID: 992 2730 7235 Phone: 1(669)900-6833
PUBLIC COMMENTSGeneral Public Comment for items not on the agenda will be accepted in person for up to threeminutes or an amount of time determind by the Chair. General public comment will be heardfor 30 minutes. Additional public comments, if any, will be heard at the end of the agenda.Public comments for agendized items will be accepted both in person and via Zoom for up tothree minutes or an amount of time determined by the Chair. Requests to speak will be takenuntil 5 minutes after the staff’s presentation or as determind by the Chair. Written publiccomments can be submitted in advance to city.council@PaloAlto.gov and will be provided tothe Council and available for inspection on the City’s website. Please clearly indicate whichagenda item you are referencing in your subject line. Multiple individuals who wish to speak onthe same item may designate a spokesperson. Spokespersons must be representing five or moreverified individuals who are present either in person or via zoom. Spokespeople will be allowedup to 10 minutes, at the discretion of the presiding officer. Speaking time may be reduced if thepresiding officer reduces the speaking time for individual speakers.
PowerPoints, videos, or other media to be presented during public comment are accepted onlyby email to city.clerk@PaloAlto.gov at least 24 hours prior to the meeting. Once received, the Clerk will have them shared at public comment for the specified item. To uphold strongcybersecurity management practices, USB’s or other physical electronic storage devices are notaccepted.
Signs and symbolic materials less than 2 feet by 3 feet are permitted provided that: (1) sticks,posts, poles or similar/other types of handle objects are strictly prohibited; (2) the items do notcreate a facility, fire, or safety hazard; and (3) persons with such items remain seated whendisplaying them and must not raise the items above shoulder level, obstruct the view or passageof other attendees, or otherwise disturb the business of the meeting.
1 May 19, 2026
Materials related to an item on this agenda submitted to the Board after distribution of the agenda packet are available for
public inspection at www.paloalto.gov/agendas.
2 May 19, 2026
Materials related to an item on this agenda submitted to the Board after distribution of the agenda packet are available for
public inspection at www.paloalto.gov/agendas.
CALL TO ORDER
PUBLIC COMMENT
Members of the public may speak in-person ONLY to any item NOT on the agenda. 1-3 minutes depending on number of
speakers. Public Comment is limited to 30 minutes. Additional public comments, if any, will be heard at the end of the agenda.
ACTION ITEMS
2.Accept the Bi-Annual Actuarial Valuation Report of Palo Alto’s Retiree Healthcare and
Other Post Employment Benefits (OPEB) Actuarial Evaluation Bi-Annual Evalution as of
June 30, 2025 and Recommend that the City Council Approve the Annual Actuarially
Determined Contribution for Fiscal Years 2027 and 2028; CEQA Status – Not a
Project Agenda Item Reordered, Late Packet Report Added, Title Updated
1. FY 2027 Budget Wrap-up and recommended FY 2027 Budget including FY 2027 Municipal
Fee Schedule Agenda Item Reordered, Late Packet Report Added, At-Places Supplemental
Report Added
FUTURE MEETINGS AND AGENDAS
Members of the public may not speak to the item(s)
ADJOURNMENT
PUBLIC COMMENT INSTRUCTIONS
Members of the Public may provide public comments to teleconference meetings via email,teleconference, or by phone.
1.Written public comments may be submitted by email to city.council@PaloAlto.gov.
2.For in person public comments please complete a speaker request card located on the
table at the entrance to the Council Chambers and deliver it to the Clerk prior to
discussion of the item.
3.Spoken public comments for agendized items using a computer or smart phone will beaccepted through the teleconference meeting. To address the Council, click on the linkbelow to access a Zoom-based meeting. Please read the following instructions carefully.
◦You may download the Zoom client or connect to the meeting in- browser. If usingyour browser, make sure you are using a current, up-to-date browser: Chrome 30 ,Firefox 27 , Microsoft Edge 12 , Safari 7 . Certain functionality may be disabled inolder browsers including Internet Explorer. Or download the Zoom application ontoyour smart phone from the Apple App Store or Google Play Store and enter in theMeeting ID below.
◦You may be asked to enter an email address and name. We request that youidentify yourself by name as this will be visible online and will be used to notify youthat it is your turn to speak.
◦When you wish to speak on an Agenda Item, click on “raise hand.” The Clerk willactivate and unmute speakers in turn. Speakers will be notified shortly before theyare called to speak.
◦When called, please limit your remarks to the time limit allotted. A timer will beshown on the computer to help keep track of your comments.
4.Spoken public comments for agendized items using a phone use the telephone numberlisted below. When you wish to speak on an agenda item hit *9 on your phone so weknow that you wish to speak. You will be asked to provide your first and last name beforeaddressing the Council. You will be advised how long you have to speak. When calledplease limit your remarks to the agenda item and time limit allotted.
CLICK HERE TO JOIN Meeting ID: 992-2730-7235 Phone: 1-669-900-6833
Americans with Disability Act (ADA) It is the policy of the City of Palo Alto to offer its publicprograms, services and meetings in a manner that is readily accessible to all. Persons withdisabilities who require materials in an appropriate alternative format or who require auxiliaryaids to access City meetings, programs, or services may contact the City’s ADA Coordinator at(650) 329-2550 (voice) or by emailing ada@PaloAlto.gov. Requests for assistance oraccommodations must be submitted at least 24 hours in advance of the meeting, program, orservice.
3 May 19, 2026
Materials related to an item on this agenda submitted to the Board after distribution of the agenda packet are available for
public inspection at www.paloalto.gov/agendas.
California Government Code §84308, commonly referred to as the "Levine Act," prohibits anelected official of a local government agency from participating in a proceeding involving alicense, permit, or other entitlement for use if the official received a campaign contributionexceeding $500 from a party or participant, including their agents, to the proceeding within thelast 12 months. A “license, permit, or other entitlement for use” includes most land use andplanning approvals and the approval of contracts that are not subject to lowest responsible bidprocedures and have a value over $50,000. A “party” is a person who files an application for, oris the subject of, a proceeding involving a license, permit, or other entitlement for use. A“participant” is a person who actively supports or opposes a particular decision in a proceedinginvolving a license, permit, or other entitlement for use, and has a financial interest in thedecision. The Levine Act incorporates the definition of “financial interest” in the Political ReformAct, which encompasses interests in business entities, real property, sources of income, sourcesof gifts, and personal finances that may be affected by the Council’s actions. If you qualify as a“party” or “participant” to a proceeding, and you have made a campaign contribution to aCouncil Member exceeding $500 made within the last 12 months, you must disclose thecampaign contribution before making your comments.
4 May 19, 2026
Materials related to an item on this agenda submitted to the Board after distribution of the agenda packet are available for
public inspection at www.paloalto.gov/agendas.