2018 08 08 FAC Minutes
FINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY, AUGUST 8, 2018
CALL TO ORDER
A regular quarterly meeting of the La Quinta Financial Advisory Commission
(Commission) was called to order at 4:00 p.m. by Chairperson Mills.
PRESENT: Commissioners: Batavick, Johnson, Lopez, Rosen, Turbow, Twohey,
and Chairperson Mills
ABSENT: None
PLEDGE OF ALLEGIANCE
Commissioner Batavick led the audience in the Pledge of Allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None
CONFIRMATION OF AGENDA
Finance Director Campos said she would provide an update of the following items under
the Departmental Reports section of the agenda:
• City’s participation in the California Asset Management Program (CAMP); and
• Council’s discussion on the Capital Asset Policy at the August 7, 2018, meeting.
The Commission concurred.
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS – None
CONSENT CALENDAR ITEMS
1. APPROVE FINANCIAL ADVISORY COMMISSION MINUTES DATED
JULY 18, 2018
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED
MAY 31, 2018
Motion – A motion was made and seconded by Commissioners Lopez/Twohey to approve
the Consent Calendar, as submitted. Motion passed unanimously.
STUDY SESSION – None
BUSINESS SESSION – None
CONSENT CALENDAR ITEM NO. 1
DEPARTMENTAL REPORTS
Staff provided the Commission with verbal updates on the following departmental report
items.
1. Jaqueline Cochran Regional Airport Authority Membership Dues
2. SilverRock Resort
3. Council’s Discussion Regarding the Commission’s Membership
expansion
4. Pension Trust Update
5. Request for Proposal for Banking Services
6. Audit Schedule for Fiscal Year Ended June 30, 2018.
City Manager Spevacek provided an update on the City’s economic development efforts
and activity.
Finance Director Campos provided an update on City’s participation in the CAMP Program
and Council’s discussion on the Capital Asset Policy at the August 7, 2018, meeting.
CORRESPONDENCE AND WRITTEN MATERIAL – None
COMMISSIONERS’ ITEMS
1. SILVERROCK EVENT SITE AD-HOC COMMITTEE MEETING ON JULY 30,
2018 – VERBARL UPDATE BY CHAIRPERSON MILLS
Chairperson Mills provided the Commission with an update on the presentations given at
the July 30, 2018, SilverRock Event Site Ad-hoc Committee and the August 7, 2018, City
Council meetings, which he attended.
COMMISSIONER JOHNSON LEFT THE DAIS AT 5:15 P.M.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Turbow/Lopez to adjourn this meeting at 5:18 p.m. Motion passed: ayes 6 absent 1
(Johnson).
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California