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

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 Roster

Finance Committee Members

  • Fred Baranowski, Chair
    Market Manager
    America West Bank
  • Amy Thompson, Vice Chair
    Assistant Finance Director
    Health and Human Services Agency
    County of San Diego
  • Hank Kim
    Chief Investment Officer
    Treasurer/Tax Collector
    County of San Diego
  • Tracey Drager
    Finance & General Government Group
    County of San Diego
  • Michael Reynolds
    Chief Financial Officer
    San Diego Regional Chamber of Commerce

Alternate Member

  • Cameron Urquhart
    Treasurer/Tax Collector
    County of San Diego

You can view current and past Finance Committee agendas here.