First 5 Finance Committee

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The First 5 Commission of San Diego County is advised by a Finance Committee. The committee has the following roles and responsibilities:

(Approved by Commission action on March 22, 2004)

Budget – review of budget; look at the budget in light of financial priorities to be established; develop policy(ies) on budgeting for Commission approval, e.g., revisiting policy adopted by Strategic Planning Committee to put excess revenue and unspent funds into the sustaining reserve, coming up with percentages going to Initiatives, etc.
Administrative costs – a policy that will describe a justifiable administrative rate
Accrued savings – a policy on how to manage the sustainability fund (plan for overflow of money beyond the Financial Spending Plan), what a prudent reserve is, etc.
Investments – investment advice to the Commission
Fixed assets – although the Commission does not own any property at the present time, this is for future policy development as the need arises
Long-term financial plan – annual review of the Financial Spending Plan as it correlates with investment; review and make changes to the existing policy, if necessary

Financial objectives – setting financial and investment policies and asset allocation strategies
Funding strategies and annual allocation plan– financial implications and risks associated with funding strategies and the annual allocation plan
Long-term financial plan – same as role under Policy

Budget – review the budget prepared by staff taking into consideration that any discrepancies that the Committee sees that staff disagrees with will be pointed out when budget goes to the Commission
Administrative costs – part of annual review of budget; see if existing numbers are still reasonable by looking at past administrative expenses
Cash flow – review statements of cash flow
Investment returns – review returns on investments
Annual financial audit – review the audit report and make comments before acceptance by the Commission

Finance Committee Members

Fred Baranowski, Chair
Regional President Sunrise Bank
Andy Pease
Assistant Finance Director
Health and Human Services Agency
County of San Diego
Rob Castetter
Chief Investments Officer
Treasurer/Tax Collector
County of San Diego
Brian Hagerty
Director of Finance
Finance & General Government Group
County of San Diego
Nedra Bickel
TPAC Representative
Roger Gordon

Roger Gordon and Company CPA

Alternate Members