Finance & Governance Committee Meeting - 7/14/2026

The City of Oxnard Finance & Governance Committee met on July 14, 2026, to discuss several governance and financial matters. A key procurement-related item was the extension of the comprehensive banking services agreement with the current bank for up to five additional one-year terms. The committee reviewed the Request for Proposal (RFP) evaluation factors, which included bank capability, experience, account analysis, implementation plans, and service enhancements, with input from IT staff to ensure ERP system compatibility. The committee expressed satisfaction with continuing the existing banking relationship due to the complexity of switching banks and integration concerns. The motion to extend the banking services agreement was approved unanimously. Additionally, the committee discussed a forthcoming staff report on the potential dissolution of council committees, indicating a direction to consider this issue in a future agenda. No other procurement actions or contract awards were noted during the meeting.