2020 12 02 FAC Special MeetingFINANCIAL ADVISORY COMMISSION AGENDA 1 DECEMBER 2, 2020
SPECIAL MEETING
SPECIAL MEETING
OF THE LA QUINTA FINANCIAL ADVISORY COMMISSION
TO THE MEMBERS OF THE LA QUINTA FINANCIAL ADVISORY COMMISSION AND
TO THE COMMISSION SECRETARY:
NOTICE IS HEREBY GIVEN that a Special Meeting of the La Quinta Financial
Advisory Commission is hereby called to be held on Wednesday, December 2, 2020
starting at 4:00 p.m.; at La Quinta City Hall located at 78495 Calle Tampico, La Quinta,
CA 92253. Pursuant to Executive Orders N-25-20, N-29-20, N-33-20, and N-35-20,
executed by the Governor of California in response to the state of emergency relating to
novel coronavirus disease 2019 (COVID-19) and enabling teleconferencing
accommodations by suspending or waiving specified provisions in the Ralph M. Brown Act
(Government Code § 54950 et seq.), members of the Financial Advisory Commission, the
City Manager, City Attorney, City Staff, and City Consultants may participate in this
emergency meeting by teleconference. The emergency meeting is called for the following
purpose:
CONSENT CALENDAR
1. Approve Minutes Dated November 4, 2020
2.Receive and File Revenue and Expenditure Report Dated September 30, 2020
BUSINESS SESSION
1.Appoint Two Financial Advisory Commissioners to Serve on the Fiscal Year 2021/22
Operating Budget Subcommittee
2.Appoint Two Financial Advisory Commissioners to Serve on the Capital
Improvement Program Fiscal Year 2021/22 through 2025/26 Subcommittee
3.Appoint Two Financial Advisory Commissioners to Review the City’s Outstanding
Pension Obligation
STUDY SESSION
1. Discuss the Highway 111 Corridor Plan and Form-Based Code Zoning Project No.
2019-05
2. Review and discuss 10-Year Financial Projections for the General Fund
DEPARTMENTAL REPORTS
1. Finance Department Current and Future Initiatives
2. Community Workshop in January
FINANCIAL ADVISORY COMMISSION AGENDA 2 DECEMBER 2, 2020
SPECIAL MEETING
COMMISSIONERS’ ITEMS
Dated: November 30, 2020
/s/ W. Richard Mills
W. RICHARD MILLS, Chairperson
Attest:
Jessica Delgado, Management Assistant
DECLARATION OF POSTING
I, Jessica Delgado, Management Assistant, do hereby declare that the foregoing notice
for the La Quinta Financial Advisory Commission Special Meeting of December 2, 2020
was posted on the outside entry to the Council Chamber at 78495 Calle Tampico and on
the bulletin boards at 51321 Avenida Bermudas and 78630 Highway 111 on November
30, 2020.
Jessica Delgado, Management Assistant
Digitally signed by Jessica Delgado
DN: cn=Jessica Delgado, o=City of La
Quinta, ou=Finance Department,
email=jdelgado@laquintaca.gov, c=US
Date: 2020.11.30 16:43:54 -08'00'
Digitally signed by Jessica Delgado
DN: cn=Jessica Delgado, o=City of
La Quinta, ou=Finance Department,
email=jdelgado@laquintaca.gov,
c=US
Date: 2020.11.30 16:44:09 -08'00'
FINANCIAL ADVISORY COMMISSION AGENDA 3 DECEMBER 2, 2020
SPECIAL MEETING
FINANCIAL ADVISORY COMMISSION
AGENDA
CITY HALL COUNCIL CHAMBERS
78-495 Calle Tampico, La Quinta
SPECIAL MEETING ON WEDNESDAY, DECEMBER 2, 2020 AT 4:00 P.M.
******************************
SPECIAL NOTICE
Teleconferencing and Telephonic Accessibility in Effect
Pursuant to Executive Orders N-25-20, N-29-20, N-33-20, and N-35-20, executed by the
Governor of California in response to the state of emergency relating to novel coronavirus
disease 2019 (COVID-19) and enabling teleconferencing accommodations by suspending
or waiving specified provisions in the Ralph M. Brown Act (Government Code § 54950 et
seq.), members of the Financial Advisory Commission, the City Manager, City Attorney,
City Staff, and City Consultants may participate in this meeting by teleconference.
Additionally, pursuant to the above-referenced executive orders, the public is not
permitted to physically attend at City Hall the meeting to which this agenda applies, but
any member of the public may listen or participate in the open session of this meeting as
specified below.
Members of the public wanting to listen to this meeting may do so by tuning-in live via
https://laquinta.12milesout.com/video/live.
Members of the public wanting to address the Financial Advisory Commission, either
for public comment or for a specific agenda item, or both, are requested to send an email
notification to the La Quinta Finance Department Management Assistant at
jdelgado@LaQuintaCA.gov, and specify the following information:
1) Full Name 4) Public Comment or Agenda Item Number
2) City of Residence 5) Subject
3) Phone Number 6) Written or Verbal Comments
The email “subject line” must clearly state “Written Comments” or “Verbal
Comments.”
Financial Advisory Commission agendas and staff
reports are now available on the City’s web page:
www.laquintaca.gov
FINANCIAL ADVISORY COMMISSION AGENDA 4 DECEMBER 2, 2020
SPECIAL MEETING
Verbal public comments – requests to speak must be emailed to the Finance
Department Management Assistant no later than 3:00 p.m. on the day of the
meeting; the City will facilitate the ability for a member of the public to be audible to
the Financial Advisory Commission and general public for the item(s) by contacting
him/her via phone and queuing him/her to speak during the discussion.
Only one person at a time may speak by telephone and only after being
recognized by the Financial Advisory Commission’s Chair.
Written public comments, received prior to the adjournment of the meeting, will be
distributed to the Financial Advisory Commission, incorporated into the agenda packet
and public record of the meeting, and will not be read during the meeting unless, upon
the request of the Financial Advisory Commission Chair, a brief summary of any public
comment is asked to be read, to the extent the Finance Department Management
Assistant can accommodate such request.
It would be appreciated that any email communications for public comments related to
the items on the agenda, or for general public comment, are provided to the Finance
Department Management Assistant at the email address listed above prior to the
commencement of the meeting. If that is not possible, and to accommodate public
comments on items that may be added to the agenda after its initial posting or items that
are on the agenda, every effort will be made to attempt to review emails received by the
Finance Department Management Assistant during the course of the meeting. The
Financial Advisory Commission’s Chair will endeavor to take a brief pause before action
is taken on any agenda item to allow the Finance Department Management Assistant to
review emails and share any public comments received during the meeting. All emails
received by the Finance Department Management Assistant, at the email address above,
until the adjournment of the meeting, will be included within the public record relating to
the meeting.
******************************
CALL TO ORDER
Roll Call: Commissioners: Batavick, Hoffner, Hunter, Rosen, Twohey, Way and Chair
Mills
PLEDGE OF ALLEGIANCE
PUBLIC COMMENT
At this time members of the public may address the La Quinta Financial Advisory
Commission on any matter not listed on the agenda. Please email “Written Public
Comments” to jdelgado@LaQuintaCA.gov and limit your comments to three minutes
(approximately 350 words). The Commission values your comments; however, in
accordance with State law, no action shall be taken on any item not appearing on the
agenda unless it is an emergency item authorized by the Brown Act [Government Code
Section 54954.2(b)].
FINANCIAL ADVISORY COMMISSION AGENDA 5 DECEMBER 2, 2020
SPECIAL MEETING
CONFIRMATION OF AGENDA
ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS – None
CONSENT CALENDAR
NOTE: Consent Calendar items are routine in nature and can be approved by one motion.
1. Approve Minutes Dated November 4, 2020
2. Receive and File Revenue and Expenditure Report Dated September 30, 2020
BUSINESS SESSION
1. Appoint Two Financial Advisory Commissioners to Serve on the Fiscal Year 2021/22
Operating Budget Subcommittee
2. Appoint Two Financial Advisory Commissioners to Serve on the Capital
Improvement Program Fiscal Year 2021/22 through 2025/26 Subcommittee
3. Appoint Two Financial Advisory Commissioners to Review the City’s Outstanding
Pension Obligation
STUDY SESSION
1. Discuss the Highway 111 Corridor Plan and Form-Based Code Zoning Project No.
2019-05
2. Review and discuss 10-Year Financial Projections for the General Fund
DEPARTMENTAL REPORTS
1. Finance Department Current and Future Initiatives
2. Community Workshop in January
COMMISSIONERS’ ITEMS
ADJOURNMENT
The next regular quarterly meeting of the La Quinta Financial Advisory Commission will
be held on February 10, 2021 commencing at 4:00 p.m. at the La Quinta Study Session
Room, 78-495 Calle Tampico, La Quinta, CA 92253.
DECLARATION OF POSTING
I, Jessica Delgado, Management Assistant, of the City of La Quinta, do hereby declare
that the foregoing Agenda for the Commission meeting was posted on the City’s website,
near the entrance to the Council Chamber at 78-495 Calle Tampico, and the bulletin
boards at 78-630 Highway 111, and 51-321 Avenida Bermudas, on
November 30, 2020.
DATED: November 30, 2020
Jessica Delgado, Management Assistant
City of La Quinta, California
Digitally signed by Jessica Delgado
DN: cn=Jessica Delgado, o=City of La
Quinta, ou=Finance Department,
email=jdelgado@laquintaca.gov, c=US
Date: 2020.11.30 16:44:28 -08'00'
FINANCIAL ADVISORY COMMISSION AGENDA 6 DECEMBER 2, 2020
SPECIAL MEETING
Public Notices
The La Quinta City Hall Council Chambers is handicapped accessible. If special equipment is
needed for the hearing impaired, please call the City Clerk’s office at (760) 777-7092, twenty-
four (24) hours in advance of the meeting and accommodations will be made.
If special electronic equipment is needed to make presentations to the Commission,
arrangements should be made in advance by contacting the City Clerk’s office at
(760) 777-7092. A one (1) week notice is required.
If background material is to be presented to the Commission during a Commission meeting,
please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the
Management Assistant for distribution. It is requested that this take place prior to the beginning
of the meeting.
Any Writings or documents provided to a majority of the Commission regarding any item(s) on
the agenda will be made available for public inspection at the Community Development counter
at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal
business hours.
FINANCIAL ADVISORY COMMISSION MINUTES 1 NOVEMBER 4, 2020
REGULAR QUARTERLY MEETING
FINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY, NOVEMBER 4, 2020
CALL TO ORDER
A regular quarterly meeting of the Financial Advisory Commission
(Commission) was called to order at 4:00 p.m. by Chairperson Mills.
This meeting was held by teleconference pursuant to Executive orders N-25-
20, N-29-20, N-33-20, and N-35-20, executed by the Governor of California
in response to the state of emergency relating to novel coronavirus disease
2019 (COVID-19) and enabling teleconferencing accommodations by
suspending or waiving specified provisions of the Ralph M. Brown Act
(Government Code § 54950 et seq.).
PRESENT: Commissioners Batavick, Hoffner, Hunter, Rosen, Twohey, Way
and Chairperson Mills
ABSENT: None
STAFF PRESENT: Management Assistant Delgado, Financial Services Analyst
Hallick, Finance Director Romero, Community Resources Director Escobedo,
Public Safety Manager Mendez, Public Works Director/City Engineer McKinney,
and Management Analyst Mignogna
PLEDGE OF ALLEGIANCE
Commissioner Hoffner led the audience in the Pledge of Allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
CONFIRMATION OF AGENDA
Chairperson Mills requested a discussion under Commissioners’ Items on
timing of Commission meetings with coordination of presentations to Council.
The Commission concurred.
CONSENT CALENDAR ITEM NO. 1
FINANCIAL ADVISORY COMMISSION MINUTES 2 NOVEMBER 4, 2020
REGULAR QUARTERLY MEETING
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
1. WELCOME NEW FINANCIAL ADVISORY COMMISSIONER ELLEN
WAY
The Commission welcomed Commissioner Way, who provided an overview of
her experience and qualifications; and all Commissioners shared a brief
introduction of their backgrounds and experiences on the Commission.
CONSENT CALENDAR ITEMS
1. APPROVE SPECIAL MEETING MINUTES DATED SEPTEMBER 30,
2020
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT
DATED JUNE 30, 2020
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT
DATED JULY 31, 2020
4. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT
DATED AUGUST 31, 2020
Motion – A motion was made and seconded by Commissioners Rosen/Hoffner
to approve the Consent Calendar, as submitted:
• Consent Calendar Item No. 1 – Motion passed: ayes 6, noes 0,
abstain 1 (Way);
• Consent Calendar Item Nos. 2, 3, and 4 – Motion passed
unanimously.
BUSINESS SESSION
1. RECEIVE AND FILE THE FISCAL YEAR 2019/20 GENERAL FUND
YEAR-END BUDGET REPORT
Finance Director Romero presented the staff report, which is on file in the
Finance Department.
The Commission and staff discussed capital improvement program (CIP)
expenditures; fiscal year 2020/21 CIP/operating expenditure carryovers;
General Fund revenue and expense variances; revenue line item details on
the 2019/20 year-end budget report; funds savings allocation; and the City’s
pension trust fund obligations.
FINANCIAL ADVISORY COMMISSION MINUTES 3 NOVEMBER 4, 2020
REGULAR QUARTERLY MEETING
Finance Director Romero said that a special meeting in December is suggested
to review the City’s long-term projections and noted the City will hold its
annual Community Workshop virtually in line with health and safety directives
and to ensure everyone’s safety.
Commissioner Hoffner commended staff for their efforts and hard work given
the circumstances in completing the year-end budget report.
Motion – A motion was made and seconded by Commissioners Twohey/Hoffner
to receive and file the Fiscal Year 2019/20 General Fund Year-End Budget
Report. Motion passed unanimously
2. RECEIVE AND FILE THE FISCAL YEAR 2019/20 MEASURE G
SALES TAX COMPLIANCE REPORT (Report)
Finance Director Romero presented the staff report, which is on file in the
Finance Department.
Finance Director Romero thanked Commissioners Batavick and Rosen for their
participation, time, and contribution on the subcommittee in formulating the
Report.
Commissioner Batavick shared his experience with the process of formulating
the Report and said it was a great collaboration with Commissioner Rosen and
staff given the circumstances of the pandemic.
Chairperson Mills commended Commissioners Batavick and Rosen and staff
on their efforts in drafting the Report.
Motion – A motion was made and seconded by Commissioners Hunter/Twohey
to receive and file the Fiscal Year 2019/20 Measure G Sales Tax Oversight
Compliance Report. Motion passed unanimously
3. RECOMMEND APPROPRIATION OF ADDITIONAL MEASURE G
FUNDING FOR THE SILVERROCK PARK VENUE PROJECT NO.
2016-08 AND ALONGI BUILDING PROJECT AND DISCUSS
PROPOSED PHASE II IMPROVEMENTS FOR THE SILVERROCK
PARK VENUE PROJECT (Project)
Finance Director Romero, Management Analyst Mignogna, Public Works
Director/City Engineer McKinney, and City Consultant Chris Hermann,
President/CEO of Hermann Design Group, presented the staff report, which is
on file in the Finance Department.
FINANCIAL ADVISORY COMMISSION MINUTES 4 NOVEMBER 4, 2020
REGULAR QUARTERLY MEETING
The Commission and staff discussed proposed phase II improvements for the
Project, including high priority items and other upgrades, additional landscape
recommendations, necessary drainage improvements, retention basin
stabilization and additional costs associated with the venue site and Alongi
building; and additional funding sources apart from Measure G funds that may
be available, and the timeline for Council presentation of phase I and phase
II recommendations.
Motion – A motion was made and seconded by Commissioners Way/Batavick
to recommend Council approval of additional Measure G funding
appropriation, in the amount of $244,700, for the SilverRock Park Venue
Project No. 2016-08 and $160,000 for the Alongi Building Project. Motion
passed unanimously.
The Commission recommended forming an ad-hoc committee to review the
recommended phase II improvements for the Project. Commissioners’ Mills,
Rosen, and Way expressed their willingness to serve on the ad-hoc committee.
The Commission Concurred.
4. RECEIVE AND FILE FISCAL YEAR 2020/21 FIRST QUARTER
BUDGET REPORT
Financial Services Analyst Hallick presented the staff report, which is on file in
the Finance Department.
No changes were recommended in the Fiscal Year 2020/21 First Quarter
Budget Report, which was focused on current economic conditions and
continuously monitoring the adopted budget.
Motion – A motion was made and seconded by Commissioners Rosen/Hoffner
to receive and file fiscal year 2020/21 first quarter budget report. Motion
passed unanimously.
5. DISCUSS AND APPROVE THE POLICE SERVICES REVIEW
COMMITTEE (Committee) RECOMMENDATIONS FOR POLICE
SERVICES
Financial Services Analyst Hallick, Community Resources Director Escobedo,
and Public Safety Manager Mendez presented the staff report, which is on file
in the Finance Department.
Commissioner Batavick and Rosen shared their experience from serving on
the Committee.
FINANCIAL ADVISORY COMMISSION MINUTES 5 NOVEMBER 4, 2020
REGULAR QUARTERLY MEETING
The Commission and staff discussed the Committee’s preliminary
recommendations, included as Attachment 1 to the staff report; the
Commission made recommendations for minor changes to the attachment
before being presented to Council, which included the removal of language
associated with tax increases
Motion – A motion was made and seconded by Commissioners Twohey/Hunter
to approve the police services committee recommendations for police
services, as amended per the Commission’s recommendations. Motion passed
unanimously
STUDY SESSION – None
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Finance Director Romero presented the staff report, which is on file in the
Finance Department.
Staff recommended having a Commission special meeting on Wednesday,
December 2 due to the volume of special projects and the timing of
presentations given to the Council. The Commission concurred.
2. SECOND QUARTER 2020 (APRIL-JUNE) SALES TAX UPDATE FOR
THE CITY OF LA QUINTA
Financial Services Analyst Hallick presented the staff report, which is on file in
the Finance Department.
3. LA QUINTA COVID-19 SMALL BUSINESS EMERGENCY
ECONOMIC RELIEF PROGRAM (Program) – verbal update
Financial Services Analyst Hallick said Council approved to amend the program
to allow businesses affected by state orders to apply for relief of August rent
and utilities at a regular meeting on October 20th.
The Commission commended the City on continuing to help businesses with
the program.
FINANCIAL ADVISORY COMMISSION MINUTES 6 NOVEMBER 4, 2020
REGULAR QUARTERLY MEETING
COMMISSIONERS’ ITEMS
Chairman Mills asked if staff could bring forth items to be presented to Council
sooner to allow more time for review by the Commission even if a special
meeting is needed.
ADJOURNMENT
There being no further business, it was moved and seconded by
Commissioners Hoffner/Rosen to adjourn this meeting at 7:35 p.m. Motion
passed unanimously
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: December 2, 2020
STAFF REPORT
AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT
DATED SEPTEMBER 30, 2020
RECOMMENDATION
Receive and file revenue and expenditure report dated September 30, 2020.
EXECUTIVE SUMMARY
•The report summarizes the City’s period and year-to-date (YTD) revenues
and expenditures for September 2020 (Attachment 1).
•These reports are also reviewed by the City Council.
FISCAL IMPACT – None
BACKGROUND/ANALYSIS
Below is a summary of the column headers used on the Revenue and
Expenditure Summary Reports:
Original Total Budget – represents revenue and expenditure budgets the
Council adopted in June 2020 for fiscal year 2020/21.
Current Total Budget – represents original adopted budgets plus any
Council approved budget amendments from throughout the year. The
2019/20 operating and Capital Improvement Project carryovers to
2020/21 have been added to the current budget.
Period Activity – represents actual revenues received and expenditures
outlaid in the reporting month.
Fiscal Activity – represents actual revenues received and expenditures
outlaid YTD.
Variance Favorable/(Unfavorable) - represents the dollar difference
between YTD collections/expenditures and the current budgeted
amount.
Percent Used – represents the percentage activity as compared to
budget YTD.
CONSENT CALENDAR ITEM NO. 2
The revenue report includes revenues and transfers into funds from other
funds (income items). Revenues are not received uniformly throughout the
year, resulting in peaks and valleys. For example, large property tax
payments are usually received in December and May. Similarly,
Redevelopment Property Tax Trust Fund payments are typically received in
January and June. Any timing imbalance of revenue receipts versus
expenditures is funded from the City’s cash flow reserve.
The expenditure report includes expenditures and transfers out to other funds.
Unlike revenues, expenditures are more likely to be consistent from month to
month. However, large debt service payments or CIP expenditures can cause
swings.
Prepared by: Rosemary Hallick, Financial Services Analyst
Approved by: Karla Romero, Finance Director
Attachment: 1. Revenue and Expenditure Report for September 30, 2020
MTD YTD
YTD Percent
of Budget
General Fund 2,357,131$ 3,885,217$ 7.61%
All Funds 5,589,536$ 9,410,549$ 5.80%
MTD YTD
YTD Percent
of Budget
General Fund 2,157,035$ 4,521,303$ 7.12%
Payroll - General Fund 592,862$ 2,542,906$ 24.35%
All Funds 18,029,541$ 24,240,200$ 13.41%
September Expenditures
September Revenues
General Fund Non-General Fund
Measure G Sales Tax 795,453$ Active Transportation Grant - Complete Streets 1,297,122$
Sales Tax 693,799$ Hwy Safety Improvement Program (HSIP) Grant 1,263,915$
Transient Occupancy (Hotel) Tax 430,912$ Allocated Interest 249,272$
State Government (CARES distribution)83,672$ Gas Tax 226,667$
Document Transfer Tax 76,686$ SilverRock Greens Fees 143,586$
General Fund Non-General Fund
Sheriff Contract (July)1,176,585$ Successor Agency Debt Service(1)13,302,075$
Greater Palm Springs Convention Bureau 42,207$ Capital Improvement Program (CIP)- Construction(2)1,242,958$
Marketing and Tourism Promotions 36,412$ Developer Reimbursements 400,001$
Parks Landscape Maintenance 35,765$ Small Business Economic Relief 140,526$
Contract Legal Services 34,682$ CIP-Professional Services (3)115,486$
(2) CIP Construction: Expenses associated with Village Complete Streets and the SilverRock Way street improvement and event
site projects.
Top Five Revenue/Income Sources for September
Top Five Expenditures/Outlays for September
(1)Interest and principal payments for redevelopment bonds, funded by dedicated Redevelopment Property Tax Trust Fund (RPTTF)
revenue.
(3) CIP Professional Services: Consulting expenses associated with SilverRock Way street improvements and event site, Dune
Palms bridge, Hwy 111 Corridor, Eisenhower retention basin, and pavement rehabilitation projects.
For Fiscal: 2020/21 Period Ending: 09/30/2020
11/23/2020 Page 1 of 3
Revenue Summary
Fiscal
Activity
Variance
Favorable
(Unfavorable)Fund
Period
Activity
Current
Total Budget
Original
Total Budget
Percent
Used
101 - GENERAL FUND 3,885,2172,357,13150,726,100 51,076,100 -47,190,883 7.61 %
201 - GAS TAX FUND 307,480226,6671,778,400 1,778,400 -1,470,920 17.29 %
202 - LIBRARY & MUSEUM FUND -11,55102,808,500 2,808,500 -2,820,051 0.41 %
203 - PUBLIC SAFETY FUND (MEASURE G)-1,924010,000 10,000 -11,924 19.24 %
210 - FEDERAL ASSISTANCE FUND -200141,900 141,900 -141,920 0.01 %
212 - SLESA (COPS) FUND -2910101,000 101,000 -101,291 0.29 %
215 - LIGHTING & LANDSCAPING FUND -1,03401,877,000 1,877,000 -1,878,034 0.06 %
220 - QUIMBY FUND -2,481080,000 80,000 -82,481 3.10 %
221 - AB 939 - CALRECYCLE FUND 1,2192,47276,000 76,000 -74,781 1.60 %
223 - MEASURE A FUND -1,94401,319,000 1,319,000 -1,320,944 0.15 %
224 - TUMF FUND -376000 -376 0.00 %
225 - INFRASTRUCTURE FUND -310200200 -231 15.38 %
226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)-11012,100 12,100 -12,111 0.09 %
227 - STATE HOMELAND SECURITY PROGRAMS (SHSP)005,000 5,000 -5,000 0.00 %
230 - CASp FUND, AB 1379 4,3851,55618,200 18,200 -13,815 24.09 %
231 - SUCCESSOR AGCY PA 1 RORF -17,3212920,539,264 20,539,264 -20,556,585 0.08 %
235 - SO COAST AIR QUALITY FUND -37053,000 53,000 -53,037 0.07 %
237 - SUCCESSOR AGCY PA 1 ADMIN -298013,505 13,505 -13,803 2.21 %
241 - HOUSING AUTHORITY 1,158,4260513,300 513,300 645,126 225.68 %
243 - RDA LOW-MOD HOUSING FUND -4,181035,000 35,000 -39,181 11.95 %
247 - ECONOMIC DEVELOPMENT FUND -6,543040,000 40,000 -46,543 16.36 %
249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)34,44835,114200,000 200,000 -165,552 17.22 %
250 - TRANSPORTATION DIF FUND 78,91412,913380,000 380,000 -301,086 20.77 %
251 - PARKS & REC DIF FUND 34,8144,212304,000 304,000 -269,186 11.45 %
252 - CIVIC CENTER DIF FUND 19,3332,782110,000 110,000 -90,667 17.58 %
253 - LIBRARY DEVELOPMENT DIF 6,27279445,000 45,000 -38,728 13.94 %
254 - COMMUNITY CENTER DIF 8,5041,91216,500 16,500 -7,996 51.54 %
255 - STREET FACILITY DIF FUND 2,00120017,000 17,000 -14,999 11.77 %
256 - PARK FACILITY DIF FUND 35107,100 7,100 -6,749 4.94 %
257 - FIRE PROTECTION DIF 7,32288655,500 55,500 -48,178 13.19 %
270 - ART IN PUBLIC PLACES FUND 15,0442,060111,000 111,000 -95,956 13.55 %
275 - LQ PUBLIC SAFETY OFFICER -7502,600 2,600 -2,675 2.90 %
299 - INTEREST ALLOCATION FUND 601,013249,27200 601,013 0.00 %
310 - LQ FINANCE AUTHORITY DEBT SERVICE 001,100 1,100 -1,100 0.00 %
401 - CAPITAL IMPROVEMENT PROGRAMS 2,561,0362,561,03619,058,300 72,477,630 -69,916,594 3.53 %
405 - SA PA 1 CAPITAL IMPRV FUND -9,8880100,000 100,000 -109,888 9.89 %
501 - FACILITY & FLEET REPLACEMENT -5,3110902,500 902,500 -907,811 0.59 %
502 - INFORMATION TECHNOLOGY 2,8951,4801,721,500 1,721,500 -1,718,605 0.17 %
503 - PARK EQUIP & FACILITY FUND -5,7920245,000 245,000 -250,792 2.36 %
504 - INSURANCE FUND -330928,500 928,500 -928,533 0.00 %
601 - SILVERROCK RESORT 412,758164,5433,882,100 3,882,100 -3,469,342 10.63 %
602 - SILVERROCK GOLF RESERVE -83104,500 4,500 -5,331 18.46 %
760 - SUPPLEMENTAL PENSION PLAN -16306,500 6,500 -6,663 2.51 %
761 - CERBT OPEB TRUST 71,45371,45360,000 60,000 11,453 119.09 %
762 - PARS PENSION TRUST 267,802-106,976300,000 300,000 -32,198 89.27 %
Report Total:5,589,536 9,410,549108,606,169 162,375,499 -152,964,950 5.80 %
Accounts are subject to adjusting entries and audit. The City's Comprehensive Annual Financial Report (CAFR), published annually in December, is the best resource for all
final audited numbers.
ATTACHMENT 1
For Fiscal: 2020/21 Period Ending: 09/30/2020
11/23/2020 Page 2 of 3
Expenditure Summary
Fiscal
Activity
Variance
Favorable
(Unfavorable)Fund
Period
Activity
Current
Total Budget
Original
Total Budget
Percent
Used
101 - GENERAL FUND 4,521,3032,157,03547,911,600 63,541,483 59,020,180 7.12 %
201 - GAS TAX FUND 97,46835,6791,775,300 2,288,769 2,191,301 4.26 %
202 - LIBRARY & MUSEUM FUND 70,87536,4621,715,100 2,295,100 2,224,225 3.09 %
203 - PUBLIC SAFETY FUND (MEASURE G)001,000,000 1,000,000 1,000,000 0.00 %
210 - FEDERAL ASSISTANCE FUND 00141,900 315,767 315,767 0.00 %
212 - SLESA (COPS) FUND 179179100,000 100,000 99,821 0.18 %
215 - LIGHTING & LANDSCAPING FUND 332,388138,4181,876,600 2,126,600 1,794,212 15.63 %
220 - QUIMBY FUND 0002,781,625 2,781,625 0.00 %
221 - AB 939 - CALRECYCLE FUND 2,0001,800100,000 100,000 98,000 2.00 %
223 - MEASURE A FUND 001,263,900 2,455,084 2,455,084 0.00 %
225 - INFRASTRUCTURE FUND 00022,618 22,618 0.00 %
226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)9,750012,000 12,000 2,250 81.25 %
227 - STATE HOMELAND SECURITY PROGRAMS (SHSP)005,000 5,000 5,000 0.00 %
230 - CASp FUND, AB 1379 004,400 4,400 4,400 0.00 %
231 - SUCCESSOR AGCY PA 1 RORF 13,302,07513,302,0758,405,468 8,405,468 -4,896,607 158.26 %
235 - SO COAST AIR QUALITY FUND 13,99113,98642,200 42,200 28,209 33.15 %
237 - SUCCESSOR AGCY PA 1 ADMIN 1,6501,65013,505 13,505 11,855 12.22 %
241 - HOUSING AUTHORITY 101,43732,364822,300 1,143,062 1,041,625 8.87 %
243 - RDA LOW-MOD HOUSING FUND 00250,000 250,000 250,000 0.00 %
244 - HOUSING GRANTS (Multiple)6,497000 -6,497 0.00 %
247 - ECONOMIC DEVELOPMENT FUND 317,230147,82110,000 961,400 644,170 33.00 %
249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)618,00006,185,000 6,185,000 5,567,000 9.99 %
250 - TRANSPORTATION DIF FUND 400,001400,0011,293,000 1,957,670 1,557,669 20.43 %
251 - PARKS & REC DIF FUND 000959,713 959,713 0.00 %
253 - LIBRARY DEVELOPMENT DIF 0030,000 30,000 30,000 0.00 %
254 - COMMUNITY CENTER DIF 000101,639 101,639 0.00 %
256 - PARK FACILITY DIF FUND 0005,600 5,600 0.00 %
270 - ART IN PUBLIC PLACES FUND 12,196958110,000 697,200 685,005 1.75 %
310 - LQ FINANCE AUTHORITY DEBT SERVICE 001,100 1,100 1,100 0.00 %
401 - CAPITAL IMPROVEMENT PROGRAMS 2,806,3331,423,98719,058,300 68,943,524 66,137,192 4.07 %
405 - SA PA 1 CAPITAL IMPRV FUND 0005,539,155 5,539,155 0.00 %
501 - FACILITY & FLEET REPLACEMENT 80,49448,845902,500 1,084,464 1,003,969 7.42 %
502 - INFORMATION TECHNOLOGY 425,28860,0941,684,200 1,924,200 1,498,912 22.10 %
503 - PARK EQUIP & FACILITY FUND 677676595,000 682,986 682,310 0.10 %
504 - INSURANCE FUND 508,492398827,500 827,500 319,008 61.45 %
601 - SILVERROCK RESORT 584,693222,0193,881,500 3,881,500 3,296,807 15.06 %
760 - SUPPLEMENTAL PENSION PLAN 12,833012,850 12,850 17 99.87 %
761 - CERBT OPEB TRUST 3813811,500 1,500 1,119 25.39 %
762 - PARS PENSION TRUST 13,9704,71352,000 52,000 38,030 26.86 %
Report Total:18,029,541 24,240,200100,083,723 180,751,682 156,511,482 13.41 %
Accounts are subject to adjusting entries and audit. The City's Comprehensive Annual Financial Report (CAFR), published annually in December, is the best resource for all final
audited numbers.
Fund #Name Notes
101 General Fund The primary fund of the City used to account for all revenue and expenditures of the City; a broad
range of municipal activities are provided through this fund.
201 Gas Tax Fund Gasoline sales tax allocations received from the State which are restricted to street-related
expenditures.
202 Library and Museum Fund Revenues from property taxes and related expenditures for library and museum services.
203 Public Safety Fund General Fund Measure G sales tax revenue set aside for public safety expenditures.
210 Federal Assistance Fund Community Development Block Grant (CDBG) received from the federal government and the
expenditures of those resources.
212 SLESF (COPS) Fund Supplemental Law Enforcement Services Funds (SLESF) received from the State for law
enforcement activities. Also known as Citizen's Option for Public Safety (COPS).
215 Lighting & Landscaping Fund Special assessments levied on real property for city-wide lighting and landscape
maintenance/improvements and the expenditures of those resources.
217 Development Agreement Revenue and Expenditures related to development agreement for Village.
220 Quimby Fund Developer fees received under the provisions of the Quimby Act for park development and
improvements.
221 AB939 Fund/Cal Recycle Franchise fees collected from the city waste hauler that are used to reduce waste sent to landfills
through recycling efforts. Assembly Bill (AB) 939.
223 Measure A Fund County sales tax allocations which are restricted to street-related expenditures.
224 TUMF Fund Developer-paid Transportation Uniform Mitigation Fees (TUMF) utilized for traffic projects in
Riverside County.
225 Infrastructure Fund Developer fees for the acquisition, construction or improvement of the City’s infrastructure as
defined by Resolution
226 Emergency Mgmt. Performance Grant (EMPG) Federal Emergency Management Agency (FEMA) grant for emergency preparedness.
227 State Homeland Security Programs (SHSP) Federal Emergency Management Agency (FEMA) grant for emergency preparedness.
230 CASP Fund, AB1379 / SB1186 Certified Access Specialist (CASp) program fees for ADA Accessibility Improvements; derived from
Business License renewals. Assembly Bill (AB) 1379 and Senate Bill (SB) 1186.
231 Successor Agency PA 1 RORF Fund
Successor Agency (SA) Project Area (PA) 1 Redevelopment Obligation Retirement Fund (RORF) for
Redevelopment Property Tax Trust Fund (RPTTF) taxes received for debt service payments on
recognized obligations of the former Redevelopment Agency (RDA).
235 SO Coast Air Quality Fund (AB2766, PM10)Contributions from the South Coast Air Quality Management District. Uses are limited to the
reduction and control of airborne pollutants. Assembly Bill (AB) 2766.
237 Successor Agency PA 1 Admin Fund Successor Agency (SA) Project Area (PA) 1 for administration of the Recognized Obligation Payment
Schedule (ROPS) associated with the former Redevelopment Agency (RDA).
241 Housing Authority Activities of the Housing Authority which is to promote and provide quality affordable housing.
243 RDA Low-Moderate Housing Fund Activities of the Housing Authority which is to promote and provide quality affordable housing.
Accounts for RDA loan repayments (20% for Housing) and housing programs,.
244 Housing Grants Activites related Local Early Action Planning (LEAP) and SB2 grants for housing planning and
development.
247 Economic Development Fund Proceeds from sale of City-owned land; transferred from General Fund for future economic
development.
248 SA 2004 LO/MOD Bond Fund Successor Agency (SA) low/moderate housing fund; 2004 bonds refinanced in 2014; for
Washington Street Apartment rehabilitation only.
249 SA 2011 Low/Mod Bond Fund Successor Agency (SA) low/moderate housing fund; 2011 bonds refinanced in 2016.
250 Transportation DIF Fund Developer impact fees collected for specific public improvements - transportation related.
251 Parks & Rec. DIF Fund Developer impact fees collected for specific public improvements - parks and recreation.
252 Civic Center DIF Fund Developer impact fees collected for specific public improvements - Civic Center.
253 Library Development DIF Fund Developer impact fees collected for specific public improvements - library.
254 Community Center DIF Fund Developer impact fees collected for specific public improvements - community center.
255 Street Facility DIF Fund Developer impact fees collected for specific public improvements - streets.
256 Park Facility DIF Fund Developer impact fees collected for specific public improvements - parks.
257 Fire Protection DIF Fund Developer impact fees collected for specific public improvements - fire protection.
270 Art In Public Places Fund Developer fees collected in lieu of art placement; utilized for acquisition, installation and
maintenance of public artworks.
275 LQ Public Safety Officer Fund Annual transfer in from General Fund; distributed to public safety officers disabled or killed in the
line of duty.
299 Interest Allocation Fund Interest earned on investments.
310 LQ Finance Authority Debt Service Fund Accounted for the debt service the Financing Authority’s outstanding debt and any related reporting
requirements. This bond was fully paid in October 2018.
401 Capital Improvement Program Fund Planning, design, and construction of various capital projects throughout the City.
405 SA PA 1 Capital Improvement Fund Successor Agency (SA) Project Area (PA) 1 bond proceeds restricted by the bond indenture
covenants. Used for SilverRock infrastructure improvements.
501 Equipment Replacement Fund Internal Service Fund for vehicles, heavy equipment, and related facilities.
502 Information Technology Fund Internal Service Fund for computer hardware and software and phone systems.
503 Park Equipment & Facility Fund Internal Service Fund for park equipment and facilities.
504 Insurance Fund Internal Service Fund for city-wide insurance coverages.
601 SilverRock Resort Fund Enterprise Fund for activities of the city-owned golf course.
602 SilverRock Golf Reserve Fund Enterprise Fund for golf course reserves for capital improvements.
735 97-1 Agency Redemption Fund To account for sewer improvement assessments.
760 Supplemental Pension Plan (PARS Account) Supplemental pension savings plan for excess retiree benefits to general employees of the City.
761 Other Post Benefit Obligation Trust (OPEB) For retiree medical benefits and unfunded liabilities.
762 Pension Trust Benefit (PARS Account)For all pension-related benefits and unfunded liabilities.
Fund Descriptions
Page 3 of 3
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: December 2, 2020
STAFF REPORT
AGENDA TITLE: APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
SERVE ON THE FISCAL YEAR 2021/22 GENERAL FUND OPERATING BUDGET
SUBCOMMITTEE
RECOMMENDATION
Appoint two Financial Advisory Commissioners to serve on the Fiscal Year
2021/22 General Fund Operating Budget Subcommittee.
EXECUTIVE SUMMARY
• The annual General Fund operating budget includes the use of Measure
G sales taxes with oversight by the Financial Advisory Commission
(FAC).
• Staff recommends the FAC appoint two Commissioners to serve on a
subcommittee to discuss revenue and expense projections for fiscal year
(FY) 2021/22.
• The subcommittee shall prepare a report and present key findings to
FAC on April 7, 2021.
BACKGROUND/ANALYSIS
Measure G was approved on November 8, 2016 and adopted by resolution on
December 20, 2016 with an effective date of April 1, 2017. Additional funds
generated by the Measure are subject to citizen oversight by the FAC. Each
year the General Fund operating budget includes revenue projections and uses
of Measure G funds.
City staff recommends appointing two Commissioners to the subcommittee to
review the FY 2021/22 General Fund projections. Staff and the subcommittee
shall present a report to FAC on April 7, 2021 for discussion. Staff anticipates
the time commitment for the subcommittee to be three, two-hour virtual
meetings during the months of February and March.
For FY 2020/21, Commissioners Mills and Rosen served on a budget
subcommittee and presented their finding to the FAC in a Budget Task Force
Report dated May 7, 2020.
BUSINESS SESSION ITEM NO. 1
The review will include the following:
1. An overview of how the City’s budget is formulated.
2. A review of all General Fund revenue projections.
3. A review of all General Fund uses.
4. A review of Special Funds dependent on contributions from the General
Fund such as the SilverRock Golf Course Fund, Landscape and Lighting
District Fund, and the Gas Tax Fund.
5. Proposed uses of Measure G sales tax revenue.
ALTERNATIVES
The subcommittee may be comprised of up to three commissioners.
Prepared by: Karla Romero, Finance Director
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: December 2, 2020
STAFF REPORT
AGENDA TITLE: APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
SERVE ON THE CAPITAL IMPROVEMENT PROGRAM FISCAL YEAR 2021/22
THROUGH 2025/26 SUBCOMMITTEE
RECOMMENDATION
Appoint two Financial Advisory Commissioners to serve on the Capital
Improvement Program Fiscal Year 2021/22 through 2025/26 subcommittee.
EXECUTIVE SUMMARY
• The five-year Capital Improvement Program (CIP) budget includes the
use of Measure G sales taxes with oversight by the Financial Advisory
Commission (FAC).
• Staff recommends the FAC appoint two Commissioners to serve on a
subcommittee to review Measure G uses in the fiscal year (FY) 2021/22
through 2025/26 CIP budget.
• The subcommittee shall prepare a report and present key findings to
FAC on April 7, 2021.
BACKGROUND/ANALYSIS
Measure G was approved on November 8, 2016 and adopted by resolution on
December 20, 2016 with an effective date of April 1, 2017. Additional funds
generated by the Measure are subject to citizen oversight by the FAC. Each
year the five-year CIP budget includes uses of Measure G funds with the first
year included in the adopted budget.
City staff recommends appointing two Commissioners to the subcommittee to
review the 2021/22 through 2025/26 CIP projects. Staff and the
subcommittee shall present a report to FAC on April 7, 2021 for discussion.
Staff anticipates the time commitment for the subcommittee to be three, two-
hour virtual meetings during the months of February and March.
For FY 2020/21, Commissioners Hoffner, Batavick, and Twohey served on a
CIP budget subcommittee and presented their finding to the FAC in a CIP
Budget Task Force Report dated May 7, 2020.
BUSINESS SESSION ITEM NO. 2
The review will include the following:
1. An overview of how the City’s CIP budget is formulated.
2. A review of available resources for CIP projects.
3. A review of identified CIP projects and priorities from the annual
Community Workshop being held on January 16, 2021.
4. Proposed uses of Measure G sales tax revenue.
ALTERNATIVES
The subcommittee may be comprised of up to three commissioners.
Prepared by: Karla Romero, Finance Director
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: December 2, 2020
STAFF REPORT
AGENDA TITLE: APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
REVIEW THE CITY’S OUSTANDING PENSION OBLIGATION
RECOMMENDATION
Appoint two Financial Advisory Commissioners to review the City’s outstanding
pension obligation.
EXECUTIVE SUMMARY
•The City’s Reserve Policy includes a funding target for outstanding
pension obligations.
•Staff recommends the Financial Advisory Commission (FAC) appoint two
Commissioners to serve on a subcommittee to review actuarial pension
reports.
•The subcommittee shall prepare a report and present key findings to
FAC on February 10, 2021.
BACKGROUND/ANALYSIS
Annually the California Public Employers’ Retirement System (CalPERS)
publishes information regarding the current financial status of pension plans
as well as projections and risk measures to aid in planning for the future. The
City has three pension tiers (Classic, Tier 2, and PEPRA). Each tier has a
valuation report which includes assumptions regarding future plan
experiences including investment returns and payroll growth, eligibility for the
types of benefits provided, and longevity among retirees.
City staff recommends appointing two Commissioners to the subcommittee to
review the City’s outstanding pension obligation. Staff and the subcommittee
shall present a report to FAC on February 10, 2021 for discussion. Staff
anticipates the time commitment for the subcommittee to be two, two-hour
virtual meetings during the months of December and January.
The review will include the following:
1.An historical overview of City’s pension obligation
2.An overview of CalPERS Actuarial Pension Reports and projections
3.Budgetary impacts
BUSINESS SESSION ITEM NO. 3
ALTERNATIVES
The subcommittee may be comprised of up to three commissioners.
Prepared by: Karla Romero, Finance Director
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: December 2, 2020
STAFF REPORT
AGENDA TITLE: DISCUSS THE HIGHWAY 111 CORRIDOR PLAN AND FORM-
BASED CODE ZONING PROJECT NO. 2019-05
RECOMMENDATION
Discuss the Highway 111 Corridor Plan and Form-Based Code Zoning Project
No. 2019-05.
EXECUTIVE SUMMARY
•The Highway 111 Corridor Plan (Plan) was completed in November 2019
and included a vision for the area and implementation plan to carry out
the vision.
•An RFP was issued in early 2020 to recruit a consultant to provide form-
based code zoning and engineering services. A contract was awarded in
September 2020 to GHD, Inc.
•An educational session on form-based code zoning was provided to
Council and Planning Commission on November 10, 2020.
•The educational session was open to the public and the recording was
forwarded to the Financial Advisory Commission (FAC) for review prior to
this meeting.
FISCAL IMPACT
The Capital Improvement Projects (CIP) program allocated $1,000,000 in
fiscal year (FY) 2019/20 and $250,000 in FY 2020/21 for a total current budget
of $1,250,000 funding with Measure G sales taxes for projects to be
implemented along Highway 111. The budget to prepare form-based code
zoning and engineering services is $885,228 and would be paid from the CIP
program.
BACKGROUND/ANALYSIS
The Highway 111 Corridor (Corridor) has been recognized as a priority by
residents and City leaders for several years. The Plan was prepared in 2019
and includes a vision to make the Corridor a pedestrian-friendly area and
create an atmosphere that invites people to stay, shop, and dine. A plan for
STUDY SESSION ITEM NO. 1
implementation of this vision was presented in November 2019, where Council
and Planning Commission provided guidance to explore rezoning of the
Corridor using form-based code and road design. As part of the investigation
into form-based code zoning, staff was directed to provide an educational
session, including an introduction to form-based code, examples from other
cities where this has been implemented and how it could be used in La Quinta
to transform and enhance future development of the Corridor.
Staff developed and issued an RFP to recruit a consultant team to review the
area and explore form-based code zoning as well as prepare engineering
design plans for the Corridor. FAC Commissioner Mills attended the interviews
of qualified firms. GHD’s team was selected as top contender following a
competitive RFP bid process and awarded a contract in September 2020.
The GHD team consists of multi-disciplinary experts and has extensive
experience in preparing and implementing corridor plans involving economic
development, land use policy, transportation, planning, zoning, and design
guidelines.
A comprehensive educational session was provided at a joint City
Council/Planning Commission public meeting on November 10, 2020. The
published meeting agenda was forwarded to the FAC prior to the joint meeting
and the recorded meeting was forwarded to the FAC on November 12, 2020.
The Highway 111 Corridor Plan and Form-Based Code Zoning project is
currently funded with $1,250,000 from Measure G sales taxes, which the FAC
oversees. Since 2017, the Corridor has provided nearly 80% or $1,500,000
quarterly of Bradley Burns sales tax revenue (1% State sales tax portion)
remitted to the City. Measure G sales tax revenue is slightly greater than
Bradley Burns because of the unique allocation method of transaction and use
taxes, however, the same amount of Measure G revenue is collected from the
corridor; for an overall totally of approximately $3 million quarterly.
Next Steps
• Staff and consultant will evaluate the specific plans and CC&Rs that
regulate the development in the Corridor to determine the existing
limitations and impediments to development.
• A sample form-based code and street engineering design for a
demonstration site in the Corridor will be done, working collaboratively
with the landowners to understand desirable development outcomes,
and to implement the vision as established in the Highway 111 Corridor
Plan.
• A presentation of the demonstration site will be conducted in the Spring
2021 with a joint study session of the City Council and Planning
Commission.
Prepared by: Cheri Flores, Planning Manager
Approved by: Danny Castro, Design and Development Director
Attachment: 1. Map of Highway 111 Corridor
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City of La Quinta
Design and Development Department
Highway 111
Corridor Map
January 2018
®
Planning Division
Legend
Highway111 Area Boundary
Highway 111
!(Highway 111 Intersections
65' Landscape Setback
CV LINK ROUTE (FUTURE)
CV Link Frontage Opportunity
Vacant Properties
Drive-throughs
Specific Plans
1. Washington Park
2. One Eleven Shopping Center
3. Jefferson Plaza
4. Dune Palms Plaza
5. Centre at La Quinta
6. La Quinta Corporate Centre
7. Point Happy Shopping Center
8. La Quinta Court
9. The Pavilion at La Quinta
10. Komar Desert Center
11. Dune Palms and Highway 111Washington StreetAdams StreetDune Palms RdJefferson StreetHighway 111
CV Link
Westward Ho Dr
City Property
ATTACHMENT 1
ATTACHMENT 1
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING: December 2, 2020
STAFF REPORT
AGENDA TITLE: REVIEW AND DISCUSS 10-YEAR FINANCIAL PROJECTIONS
FOR THE GENERAL FUND
RECOMMENDATION
Review and discuss 10-year financial projections for the General Fund.
EXECUTIVE SUMMARY
• Annually, 10-year financial projections of revenue and expenditures for
the City’s General Fund are prepared for presentation at the Community
Workshop.
• One scenario is presented for review and discussion –gradual recovery.
BACKGROUND/ANALYSIS
Annually, financial projections are provided to the public at a January
community workshop. In advance, the Financial Advisory Commission reviews
and discusses updated 10-year financial projections.
The General Fund (Fund) is the least restrictive fund of the City and provides
the greatest resources to support citywide operations, therefore, 10-year
projections are presented for this Fund. The Fund accounts for revenues from
major taxes, services provided by the City, license and permits, franchise fees,
and negotiated intergovernmental revenues. These revenues provide resources
for public safety (police and fire), daily operations, community events, and
contract services, as well as support for capital improvements.
The annual community workshop event marks the official start of the new
budget preparation cycle. The attached projections are a preview to this annual
update and include actuals for fiscal year (FY) ending 2019/20.
The attached projections use the current 2020/21 budget and apply a growth
factor for the 10-year model. One scenario is presented for discussion.
• A gradual recovery starting in FY 2022/23 (Attachment 1)
These projections may be updated prior to the Community Workshop, if there
are significant changes in economic conditions or expense projections.
STUDY SESSION ITEM NO. 2
ALTERNATIVES:
The purpose of this item is to present and discuss projections with the
Commission before finalizing projections for the annual Community Workshop.
Prepared by: Karla Romero, Finance Director
Attachment: 1. General Fund Financial Projections, Gradual Recovery
City of La QuintaAs of November 30, 2020ActualGrowthCurrent Budget2022/23 to 2031/322019/20 Projections 2020/21 * 2021/22 2022/23 2023/24 2024/25 2025/26 2026/27 2027/28 2028/29 2029/30 2030/31TOTAL1.Cash ReceiptsSales Tax - Measure G ᵃ10,310,526$ 8,197,200$ 8,559,401$ 8,730,589$ 8,905,201$ 9,083,305$ 9,264,971$ 9,450,271$ 9,639,276$ 9,832,062$ 10,028,703$ 10,229,277$ 93,723,057$ Sales Tax - Bradley Burns8,825,489 2%7,628,700 7,781,274 7,936,899 8,095,637 8,257,550 8,422,701 8,591,155 8,762,978 8,938,238 9,117,003 9,299,343 85,202,779 Transient Occupancy Tax7,603,481 1%6,455,100 6,519,651 6,584,848 6,650,696 6,717,203 6,784,375 6,852,219 6,920,741 6,989,948 7,059,848 7,130,446 68,209,974 Property Tax 9,653,473 2%9,617,000 9,809,340 10,005,527 10,205,637 10,409,750 10,617,945 10,830,304 11,046,910 11,267,848 11,493,205 11,723,069 107,409,536 Fire Service Property Tax 7,057,071 2%7,270,200 7,415,604 7,563,916 7,715,194 7,869,498 8,026,888 8,187,426 8,351,175 8,518,198 8,688,562 8,862,333 81,198,795 Fire Property Tax Reserves ᵇ- 751,500 81,236 232,798 393,388 563,427 743,354 933,626 1,134,720 936,511 936,511 936,511 6,892,081 Motor Vehicle In-Lieu4,290,417 2%4,393,000 4,480,860 4,570,477 4,661,887 4,755,124 4,850,227 4,947,232 5,046,176 5,147,100 5,250,042 5,355,042 49,064,167 Other Revenue/Intergovernmental 1,969,908 1%1,896,100 1,915,061 1,934,212 1,953,554 1,973,089 1,992,820 2,012,748 2,032,876 2,053,205 2,073,737 2,094,474 20,035,775 Franchise Fees1,940,701 1%1,805,000 1,823,050 1,841,281 1,859,693 1,878,290 1,897,073 1,916,044 1,935,204 1,954,556 1,974,102 1,993,843 19,073,137 Charges for Services1,169,982 1%785,500 793,355 801,289 809,301 817,394 825,568 833,824 842,162 850,584 859,090 867,681 8,300,249 Development Related Permits1,246,509 1%734,200 741,542 748,957 756,447 764,011 771,652 779,368 787,162 795,033 802,984 811,014 7,758,170 Document Transfer Tax662,545 1%500,000 505,000 510,050 515,151 520,302 525,505 530,760 536,068 541,428 546,843 552,311 5,283,417 Business Licenses/Permits665,147 1%402,600 406,626 410,692 414,799 418,947 423,137 427,368 431,642 435,958 440,318 444,721 4,254,208 Fines and Assessments375,713 1%290,000 292,900 295,829 298,787 301,775 304,793 307,841 310,919 314,028 317,169 320,340 3,064,382 SilverRock Resort Net Revenue ᶜ- - - 531,400 1,260,000 2,500,000 2,960,000 2,842,000 3,222,000 3,540,000 3,575,400 3,611,154 24,041,954 Carryover Funding/Use of Reserves17,793,266 15,255,844 2.Total Revenue$73,564,228$65,981,944 $51,124,900 $52,698,763 $54,495,373 $56,829,668 $58,411,010 $59,442,186 $61,000,009 $62,114,698 $63,163,514 $64,231,560 $583,511,6823.Cash Paid OutPolice Services Contract ᵈ16,130,014 6% 17,414,300 18,459,158 19,566,707 20,740,710 21,985,153 23,304,262 24,702,517 26,184,668 27,755,749 29,421,093 31,186,359 243,306,376 Fire Service Contract ᵈ6,346,342 4%7,208,500 7,496,840 7,796,714 8,108,582 8,432,925 8,770,242 9,121,052 9,485,894 9,865,330 10,259,943 10,670,341 90,007,864 Salaries (Full-Time Employees)6,464,418 3%5,849,900 6,025,397 6,206,159 6,392,344 6,584,114 6,781,637 6,985,087 7,194,639 7,410,478 7,632,793 7,861,776 69,074,424 Maintenance & Operations ᵉ5,325,801 2%5,631,900 5,744,538 5,859,429 5,976,617 6,096,150 6,218,073 6,342,434 6,469,283 6,598,668 6,730,642 6,865,255 62,901,088 Other Contract Services2,960,975 2%3,181,300 3,244,926 3,309,825 3,376,021 3,443,541 3,512,412 3,582,661 3,654,314 3,727,400 3,801,948 3,877,987 35,531,034 Transfers Out ᶢ3,673,718 1%953,000 962,530 972,155 981,877 991,696 1,001,613 1,011,629 1,021,745 1,031,962 1,042,282 1,052,705 10,070,193 Employee Medical Insurance Costs1,363,084 3%1,637,900 1,687,037 1,737,648 1,789,778 1,843,471 1,898,775 1,955,738 2,014,410 2,074,843 2,137,088 2,201,201 19,339,989 Other Personnel Costs502,482 2%879,600 897,192 915,136 933,439 952,107 971,149 990,572 1,010,384 1,030,592 1,051,203 1,072,227 9,824,002 PERS Unfunded Pension Liability ͪ4,324,125 977,100 1,127,917 1,244,000 1,315,000 1,391,000 1,432,000 1,449,000 1,477,980 1,507,540 1,537,690 1,568,444 14,050,571 PERS Normal Payroll Costs536,542 2%536,500 547,230 558,174.60 569,338 580,725 592,339 604,186 616,270 628,595 641,167 653,991 5,992,016 Salaries (Part-Time/Temporary)243,897 2%162,600 177,234 193,185 197,049 200,990 205,010 209,110 213,292 217,558 221,909 226,347 2,061,682 Capital Expenses ᶠ7,904,414 3,479,000 2,052,000 2,052,000 2,052,000 2,052,000 2,052,000 2,052,000 2,052,000 2,052,000 2,052,000 2,052,000 20,520,000 Measure G Reserves2,136,144 3,127,200 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 - - - - - 5,000,000 Multi-Year Project Carryovers14,933,944 14,933,944 - - - - - - - - - - - 4.Total Operational Expenses$72,845,901$65,972,744 $49,421,999 $51,411,132 $53,432,754 $55,553,871 $57,739,512 $59,005,986 $61,394,879 $63,900,715 $66,529,759 $69,288,633 $587,679,2415.Yearly Operating Cash Position(2 minus 4)718,327 9,200 1,702,901 1,287,631 1,062,619 1,275,797 671,497 436,200 (394,871) (1,786,017) (3,366,245) (5,057,073) (4,167,559)6.RDA Loan Repayment ᶨRepayment based on Last & Final ROPS2,540,262 2,591,066 2,642,888 2,695,746 2,749,661 2,804,654 2,860,747 2,917,962 2,976,321 3,035,847 2,748,258 - 25,432,084 7.Cash Position After RDA Repayment(6 plus 7)3,258,589$ 2,600,266$ 4,345,789$ 3,983,377$ 3,812,280$ 4,080,451$ 3,532,244$ 3,354,162$ 2,581,450$ 1,249,830$ (617,987)$ (5,057,073)$ 21,264,525$ OPERATING BUDGET NOTES:a - Measure G transaction and use sales tax effective April 1, 2017 is projected to be 110% of Bradley Burns sales tax collected. b - Fire Property Tax Reserve account balance as of June 30, 2020 is $10,491,654. These funds are held in trust by the County of Riverside and restricted for fire services. c - SilverRock Resort Net Revenue includes revenue derived from sales tax, property tax, and transient occupancy taxes. d - Police and Fire services are provided by the County of Riverside and subject to the County's annual budget and contractual obligations. e - Maintenance and operations includes utilities and internal services charges. f - Ongoing capital expense projections include minimum capital funding required for street and sidewalk improvements to secure Measure A and Gas Tax funding (both restricted for road improvements). g - Transfers Out support the Gas Tax Fund for street improvements, the Lighting and Landscape District, Art in Public Places, and SilverRock golf course.h - PERS unfunded pension liability projections are based on CalPERS actuarial valuations as of June 30, 2019 issued in August 2020. j - Annual RDA loan repayments represent the 80% General Fund portion. The remaining 20% is recognized in a Housing Authority Fund. The final repayment is scheduled for FY 2029/30.* The 2020/21 Budget includes capital and operational carryovers from 2019/20 and approved adjustments during the first five months of fiscal year 2020/21.GENERAL FUND FINANCIAL PROJECTIONS - Gradual RecoveryOPERATING BUDGET & CAPITAL PROJECTS FUNDED BY THE GENERAL FUNDThe Current Budget for 2020/21 INCLUDES carryovers from 2018/19, approved adjustments through November 30, 2020. Revenue projections are based on current economic conditions and historical trends. Current Fire Service Reserve balance as of June 30, 2020 is $10,491,654. Expenditure projections are based on current operations, identified projects and regulatory requirements. RDA loan repayments end in 2029/30 and are allocated 80% to the General Fund and 20% to the Housing Authority Fund. RDA LOANATTACHMENT 1ATTACHMENT 1
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING
DEPARTMENT REPORT
TO: Financial Advisory Commissioners
FROM: Karla Romero, Finance Director
DATE: December 2, 2020
SUBJECT: FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Since the November 4, 2020 Financial Advisory Commission (FAC)
meeting, the Finance Department has completed the following projects:
• Annual Development Project Fee Reports for all Development
Impact Fee Funds and the Art in Public Place Fund. Submitted
reports to required external agencies and will present reports to
City Council on December 15, 2020.
• Monitoring progress on the Highway 111 Corridor Improvements.
A joint Planning Commission and City Council meeting was held
on November 10, 2020 and an update provided to the Commission
today.
• Preliminary updated the ten-year financial projections for the City
of La Quinta and presented the analysis to the Commission today.
• Completed the Annual Street and Road Improvement Audit and
filed the required report to the State Controller’s Office.
• Completed the Annual Measure A Local Streets and Roads Audit
and filed the required report with the Riverside County
Transportation Commission.
The recruitment for an Accounts Payable Technician has been completed
and a new employee is anticipated to start on December 7, 2020.
To end calendar year 2020, the Finance Department will be completing
the following items. No new items have been added since the November
4, 2020 meeting.
• The outstanding Interfund Library Loan will be evaluated, and a
recommendation prepared for review by the FAC and City Council.
• Reviewing fiscal impacts associated with Short-Term Vacation
Rental Committee (Committee) recommendations and prepare a
report for the Committee, FAC and City Council.
• Upon approval of the 2021 Bond refinancing by the County
Oversight Board, Staff will submit the request to the State
DEPARTMENTAL REPORT ITEM NO. 1
Department of Finance and begin the 100-day review and
approval process.
• In conjunction with the 2021 Bond Financing Team, Staff will
prepare a comprehensive financial presentation focused on La
Quinta’s Redevelopment Project Areas No. 1 and 2. The
presentation will be presented to S&P Global Ratings, formerly
known as Standard and Poor’s, for an updated credit rating.
• Publishing the 2019/20 Comprehensive Annual Financial Report.
It is important to note the items mentioned in this update are in addition
to the daily functions of the Finance Department.
City of La Quinta
FINANCIAL ADVISORY COMMISSION MEETING
DEPARTMENT REPORT
TO: Financial Advisory Commissioners
FROM: Karla Romero, Finance Director
DATE: December 2, 2020
SUBJECT: COMMUNITY WORKSHOP IN JANUARY
The City’s Annual Community Workshop is anticipated to be held on
Saturday, January 16, 2021, virtually via Zoom. All Commissioners are
encouraged to attend this meeting which is typically held from 9:00am
to 12:00noon.
The meeting marks the start of the Fiscal Year (FY) 2021/22 Operating
and the FY 2021/22 through 2025/26 Capital Improvement Program
Budgets.
The meeting typically includes an overview of accomplishments from the
prior FY, a discussion of reserves and financial projections, upcoming
priorities, challenges, and capital project considerations which are
presented to the Community for input prior to evaluating funding
sources.
DEPARTMENTAL REPORT ITEM NO. 2
POWER POINT
FAC
SPECIAL
MEETING
DECEMBER 2, 2020
12/2/2020
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Financial Advisory Commission Meeting
12/02/2020
Study Session Item No. 1
Highway 111 Corridor Area Plan
The Highway 111 Corridor
•The Highway 111 Corridor (Corridor) has
been recognized as a priority by residents
and City leaders for several years.
•The Highway 111 Corridor Plan (Plan) was
completed in November 2019 and included a
vision for the area and implementation plan
to carry out the vision.
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Contract
•An RFP was issued in early 2020 to
recruit a consultant to provide form-
based code zoning and engineering
services. A contract was awarded in
September 2020 to GHD, Inc.
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Budget
•The budget to prepare form-based code
zoning and engineering services is
$885,228 and would be paid from the
CIP program.
•Total CIP budget of $1,250,000 funding
with Measure G sales taxes for projects
to be implemented along Highway 111
Form-Based Code Session
•An educational session on form-
based code zoning was provided to
Council and Planning Commission
on November 10, 2020.
•https://laquinta.12milesout.com/mee
tings/city-council
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What is Form-Based Code
•Form-based code is a way to shape
future development to get great
building designs and to activate
public spaces, walkways, paths and
streets to achieve a memorable place
and experience based on a
community vision.
Next Steps
•Prepare sample
code for
demonstration area
•Creation of street
design concepts for
Corridor
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More information
Danny Castro, Design &
Development Director
dcastro@laquintaca.gov
Cheri Flores, Planning
Manager
clflores@laquintaca.gov
Bryan McKinney, Public
Works Director
bmckinney@laquintaca.gov
Julie Mignogna,
Management Analyst
jmignogna@laquintaca.gov
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