2017 08 09 FAC Minutesavim*,
OFT'
CALL TO ORDER
FINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY, AUGUST 9, 2017
A regular meeting of the La Quinta Financial Advisory Commission was called to order
at 4:00 p.m. by Chairperson Batavick.
PRESENT: Commissioners Mills, Rosen, Turbow, Twohey, and Chairperson
Batavick
ABSENT: Commissioners Johnson and Lopez
PLEDGE OF ALLEGIANCE
Commissioner Twohey led the audience in the pledge of allegiance.
COMMISSIONER LOPEZ JOINED THE MEETING AT 4:04 P.M.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
PUBLIC SPEAKER - None
CONFIRMATION OF AGENDA - Confirmed
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
1. INTRODUCTION OF VAVRINEK, TRINE, DAY & CO., LLP AUDIT FIRM
Certified Public Accountant Partner Phillip White and Certified Public Accountant
Manager Lauryn Stapleton introduced Vavrinek, Trine, Day & Co., LLP, an audit firm
and provided information on audit scope and timing; the audit firm's qualifications,
experience and background.
2. INTRODUCTION OF FINANCE DEPARTMENT STAFF
Accountant Blondell, Account Technician Armendariz, and Senior Accountant Martinez
introduced themselves and provided information on their experience and background.
Finance Director Campos said Junior Accountant Laureano and Account Technician
Gant were also part of the Finance Department team.
FINANCIAL ADVISORY COMMISSION MINUTES 1 AUGUST 9, 2017
CONSENT CALENDAR ITEMS
1. APPROVE FINANCIAL ADVISORY COMMISSION MINUTES OF JUNE 8, 2017
2. APPROVE FINANCIAL ADVISORY COMMISSION MINUTES OF JUNE 12, 2017
The Commission said that under Consent Calendar Item No. 1, page No. 1, the name
Batavick under the PRESENT section of CALL TO ORDER should be moved up one line.
The CALL TO ORDER shall be amended to read:
PRESENT:
ABSENT:
Commissioner Mills, Rosen, Twohey, and Chairperson Batavick
Commissioner Turbow
Motion - A motion was made and seconded by Commissioners Rosen/Twohey to
approve Consent Calendar Item Nos. 1 and 2, as amended and submitted,
respectively. Motion passed: ayes 6, absent 1 (Johnson).
3. RECEIVE AND FILE THE 4TH QUARTER FISCAL YEAR 2016/17 TREASURY
REPORT FOR APRIL, MAY, AND JUNE 2017
Financial Services Analyst Hallick presented the staff report, which is on file in the
Finance Department.
Motion - A motion was made and seconded by Commissioners Mills/Lopez to approve
Consent Calendar Item No. 3, as submitted. Motion passed: ayes 6, absent 1
(Johnson).
4. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED APRIL 30
AND MAY 31, 2017
Finance Director Campos presented the staff report, which is on file in the Finance
Department.
Motion - A motion was made and seconded by Commissioners Mills/Turbow to
approve Consent Calendar Item No. 4, as submitted. Motion passed: ayes 6, absent 1
(Johnson).
BUSINESS SESSION
1. APPOINT THREE COMMISSIONERS TO SERVE ON THE SUB -COMMITTEE TO
REVIEW THE CITY'S RESERVE POLICY
Finance Director Campos presented the staff report, which is on file in the Finance
Department.
Commissioners Twohey, Mills, and Johnson expressed an interest to serve on the
Sub -Committee.
FINANCIAL ADVISORY COMMISSION MINUTES 2 AUGUST 9, 2017
Motion - A motion was made and seconded by Commissioners Batavick/Lopez to
appoint Commissioners Twohey, Mills, and Johnson to serve on the Sub -Committee to
review the City's reserve policy. Motion passed: ayes 6, absent 1 (Johnson).
2. APPOINT FINANCIAL ADVISORY COMMISSION CHAIRPERSON AND VICE -
CHAIRPERSON
Financial Services Analyst Hallick presented the staff report, which is on file in the
Finance Department.
Motion - A motion was made and seconded by Commissioners Rosen/Turbow to
appoint Commissioners Batavick and Mills, as Chairperson and Vice -Chairperson,
respectively, for a period of one year. Motion passed: ayes 6, absent 1 (Johnson).
STUDY SESSION - NONE
DEPARTMENTAL REPORTS
All reports are on file in the Finance Department.
CORRESPONDENCE AND WRITTEN MATERIAL - None
COMMISSIONERS' ITEMS - None
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Turbow/Lopez to adjourn this meeting at 5:35 p.m. Motion passed: ayes 6, absent 1
(Johnson).
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California
FINANCIAL ADVISORY COMMISSION MINUTES 3 AUGUST 9, 2017