The Investment Advisory Board (IAB) was established in 1993. Due to additional oversight and responsibilities added in 2017, the IAB was restructured into the Financial Advisory Commission (FAC), and its membership was increased from five to seven members appointed by the City Council. The FAC is coordinated by the Finance Department (760) 777-7000.

Meetings

The FAC meets quarterly on the second Wednesday of February, May, August, and November, at 3:30 p.m. Special meetings may be scheduled on an "as needed" basis. The day and place of the FAC meetings for upcoming fiscal years is established at the last regularly scheduled meeting of each fiscal year.

Functions

The principal functions of the FAC are:

1. Review at least annually the city's investment policy and recommend appropriate changes;
2. Review monthly treasury reports and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations;
3. Receive and consider other reports provided by the city treasurer;
4. Meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities;
5. Review annually the revenue derived from the one percent (1%) transactions and use tax instituted by voters in November 2016 to ensure these funds are used to provide services, programs and capital projects in the City of La Quinta; and
6. Serve as a resource for the city treasurer on matters such as proposed investments, internal controls, use of change of financial institutions, custodians, brokers and dealers.

Contact

For more information about the FAC contact us at finance@laquintaca.gov or (760) 777-7000.

Apply

Applications are accepted all year long and kept on file in the Clerk's office until a vacancy needs to be filled.

Application to Serve on the FAC

Members

Current List of Commission Members

Agendas, Staff Reports and Minutes

The minutes for the FAC meetings will not be available until they have been approved at the next regular meeting.

The regular quarterly meeting agendas are typically available not less than 72 hours prior to each meeting and may be downloaded by clicking on one of the Event links below. The City reserves the right to make changes to the order of items listed on the agenda.

For copies of staff reports, as well as any accompanying attachments, you may contact the Finance Department at (760)777-7000 or finance@laquintaca.gov.

Agendas for current meetings are located at the event link below and on the City Calendar.

Meeting Calendar