Loading...
2021 06 02 FAC Minutes FINANCIAL ADVISORY COMMISSION MINUTES 1 JUNE 2, 2021 SPECIAL MEETING FINANCIAL ADVISORY COMMISSION SPECIAL MEETING MINUTES WEDNESDAY, JUNE 2, 2021 CALL TO ORDER A special meeting of the Financial Advisory Commission (Commission) was called to order at 4:00 p.m. by Chair Mills. This meeting was held by teleconference pursuant to Executive orders N-25- 20, N-29-20, N-33-20, N-35-20, and N-60-20, 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, Twohey, Way, and Chair Mills ABSENT: None VACANCY: One STAFF PRESENT: Financial Services Analyst Hallick, Interim Finance Director Martinez, Management Assistant Delgado PLEDGE OF ALLEGIANCE Commissioner Hoffner led the audience in the Pledge of Allegiance. PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None CONFIRMATION OF AGENDA Commissioner Mills requested a discussion on a nominating committee for Chair and Vice-Chair recommendations under Commissioners’ Items. The Commission concurred. ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS – None CONSENT CALENDAR ITEM NO. 1 FINANCIAL ADVISORY COMMISSION MINUTES 2 JUNE 2, 2021 SPECIAL MEETING CONSENT CALENDAR ITEMS 1. APPROVE SPECIAL MEETING MINUTES DATED MAY 12, 2021 Motion – A motion was made and seconded by Commissioners Hoffner/Twohey to approve the Consent Calendar, as submitted. Motion passed: ayes 4, noes 0, vacancy 1, abstain 2 (Mills and Way). BUSINESS SESSION 1. DISCUSS FISCAL YEAR 2021/22 PROPOSED BUDGET AND APPROVE ALLOCATION OF MEASURE G SALES TAX REVENUE Interim Finance Director Martinez and Financial Services Analyst Hallick presented the staff report, which is on file in the Finance Department. The Commission and staff discussed process for fire alarm services and citations; Measure G allocation for public safety contract services reserves and additional general fund operational expenses, and Measure G allocation for Highway 111 Corridor (Corridor) improvements as proposed in Measure G Revenues and Uses Summary handout to the staff report; process for reserve allocations; and process for seeking Council approval for City projects. The Commission requested to have Measure G reserves allocations be presented to the Commission for review and approval prior to actual expenditures; and expressed a general concern regarding allocating additional funds for capital improvement projects without a detailed accounting plan on how funds would be spent. Staff noted that all expenditures over $50,000 require Council approval per the City’s Purchasing Policy. The Commission requested that staff provide the Commission with quarterly updates of planned and actual expenditures related to the Corridor project. Motion – A motion was made and seconded by Commissioners Batavick/Hoffner to approve the fiscal year 2021/22 allocation of Measure G sales tax revenue as recommended; and to provide the Commission with quarterly updates on planned and actual expenditures related to the Highway 111 Corridor project. Motion passed: ayes 6, noes 0, vacancy 1. STUDY SESSION – None DEPARTMENTAL REPORTS – None FINANCIAL ADVISORY COMMISSION MINUTES 3 JUNE 2, 2021 SPECIAL MEETING COMMISSIONERS’ ITEMS Chair Mills thanked Commissioners Hunter, Rosen, and Twohey for their dedicated public service and commitment to the Commission, and dedicated service to the community. He noted he sent an email to staff and Council expressing a concern that a majority of the Commission’s members’ terms are set to expire, and provided a recommendation that the term’s rotation schedule be amended. Chair Mills updated the Commission on his attendance of the Planning Commission (PC) meeting of April 27, 2021; said he inquired on PC’s strategy to evaluate future expenses for electric vehicle charging stations, and is awaiting a response from PC. Chair Mills mentioned the final meeting for the Library Development Impact Fee (DIF) Study subcommittee is still pending; the 10-year Financial Projections subcommittee is to be started in the Fall of 2021; and that the Long-Range Strategic Planning subcommittee was appointed three Commissioners (Mills, Hoffner, and Rosen) but would be short one Commissioner due to the resignation of Commissioner Rosen. Commissioner Way volunteered to join subcommittee if needed. Chair Mills said at the April 20 and May 4, 2021 Council meetings, the developer presented an update on the SilverRock Resort project progress and developer’s efforts to cure the default under the Purchase, Sale, And Development Agreement; the form-based code study for the Highway 111 Corridor project was presented at a Special Joint Meeting of the City Council and Planning Commission on May 18, 2021; and that all meeting videos can be found on the City’s website if any Commissioner would like to watch. Commissioner Way said a comprehensive update on the development of the SilverRock project, specifically the Montage hotel component, was presented at the June 1, 2021, Council meeting. Chair Mills inquired on how the Commission can be more proactive and suggested having a discussion on this at the next Commission meeting once new Commissioners have been appointed. Staff noted that the Commission’s work plan is listed in the La Quinta Municipal Code and included in the City’s Investment Policy. Chair Mills inquired on the process for adding items on the agenda; and requested that staff have correspondence issued as responses to individual Commissioner’s inquiries to be disseminated to the entire Commission. Staff asked the Commission to direct their comments and questions directly to staff, Interim Finance Director Martinez, Financial Services Analyst Hallick, and Management Assistant Delgado, to ensure a timely response is issued should a FINANCIAL ADVISORY COMMISSION MINUTES 4 JUNE 2, 2021 SPECIAL MEETING staff member be out of the office and to ensure communication is distributed in compliance with the Brown Act. Chair Mills suggested that he and Commissioner Way serve on a nomination committee to provide recommendations to the Commission for the upcoming Chair and Vice-Chair appointments at the next meeting. Staff noted this item will be agendized for the Commission’s review and consideration at the first meeting of the new fiscal year per the La Quinta Municipal Code and that each Commissioner in attendance would have the opportunity to nominate themselves or another Commissioner for the role of Chair and Vice-Chair. The Commission inquired if the applications submitted to the City by candidates interested in serving on the Commission would be available for review. Staff noted Council will conduct the interviews during a public meeting, scheduled for June 23, 2021, at 5:00 p.m. ADJOURNMENT There being no further business, it was moved and seconded by Commissioners Way/Twohey to adjourn this meeting at 6:07 p.m. Motion passed: ayes 6, noes 0, vacancy 1. Respectfully submitted, 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, email=jdelgado@laquintaca.gov, c=US Date: 2021.10.06 14:07:09 -07'00'