2022 10 05 FAC Minutes Special MeetingFINANCIAL ADVISORY COMMISSION
SPECIAL MEETING
MINUTES
WEDNESDAY, OCTOBER 5, 2022
CALL TO ORDER
A special meeting of the La Quinta Financial Advisory Commission
(Commission) was called to order at 4:00 p.m. by Chair Mills.
PRESENT: Commissioners Anderson, Batavick, Dorsey, Luettjohann, Mast,
Way and Chair Mills
ABSENT: None
STAFF PRESENT: Finance Director Martinez, Financial Services Analyst Hallick,
Account Technician Batuta, Management Assistant Delgado, City Clerk
Radeva, City Manager McMillen
PLEDGE OF ALLEGIANCE
Commissioner Luettjohann led the audience in the Pledge of Allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA - None
CONFIRMATION OF AGENDA - Confirmed
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
- None
CONSENT CALENDAR ITEMS
1. APPROVE MEETING MINUTES DATED AUGUST 24, 2022
Motion - A motion was made and seconded by Commissioners Way/Mast to
approve the Consent Calendar as submitted. Motion passed unanimously.
BUSINESS SESSION
1. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
AUDIT AND FORMULATE THE ANNUAL MEASURE G SALES TAX
OVERSIGHT COMPLIANCE REPORT (Report) FOR FISCAL YEAR
2021/22
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SPECIAL MEETING
Finance Director Martinez presented the staff report, which is on file in the
Finance Department.
Staff provided the timeline for completing the Report. Commissioner Batavick
and Luettjohann expressed their interest to serve on the subcommittee to
audit and formulate the annual Measure G sales tax oversight compliance
report for fiscal year 2021/22.
Motion - A motion was made and seconded by Commissioners Way/Anderson
to appoint Commissioners Batavick and Luettjohann to audit and formulate
the annual measure G sales tax oversight compliance report for fiscal year
2021/22. Motion passed unanimously.
2. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
REVIEW THE CITY'S GENERAL FUND BALANCE AND RESERVES
POLICY
Finance Director Martinez and Financial Services Analyst Hallick presented the
staff report, which is on file in the Finance Department.
Commissioners Anderson, Dorsey, and Way expressed their interest to serve
on the subcommittee to review the City's general fund balance and reserves
policy.
Motion - A motion was made and seconded by Commissioners Mast/Dorsey
to appoint Commissioners Anderson, Dorsey, and Way to serve on the
subcommittee to review the City's general fund balance and reserves policy.
Motion passed unanimously.
STUDY SESSION
1. DISCUSS THE CITY'S OUTSTANDING PENSION OBLIGATIONS
AND THE FINANCIAL ADVISORY COMMISSION SUBCOMMITTEE
RECOMMENDATIONS
Financial Services Analyst Hallick presented the staff report, which is on file in
the Finance Department.
Financial Services Analyst Hallick thanked Commissioners Anderson and
Dorsey for their participation on the subcommittee and shared the scope of
work and findings. Commissioner Anderson shared his reasoning for
recommending funding source Option 1 from the subcommittee's options
listed in the staff report.
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SPECIAL MEETING
The Commission and staff discussed changes in pension funding percentages;
terminated agencies; unfunded liability payments to California Public
Employees Retirement System Agency (CalPERS); fluctuations of CalPERS
annualized returns over the years; other possible pension liability funding
sources; and the subcommittee's recommendations included in the staff
report.
Staff said the report would be updated with current discussion
recommendations and brought forth for review by the Commission at the
November 9, 2022, meeting before being presented to Council for discussion
and direction as a study session item.
DEPARTMENTAL REPORTS
All reports are on file in the Finance Department.
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
COMMISSIONERS' ITEMS
1. Chair Mills said he distributed a handout to the Commission, which he
prepared, that listed prior Commission projects, future Commission
initiatives for staff consideration, and other follow up items by the
Commission.
2. Commissioner Batavick reported on a meeting he attended on Monday,
October 3, 2022, with City staff, Council Member Radi, and two
citizens, in regards to the City's 10-year budget projections. The
Commission asked what information would be included about Measure
A on the November 8, 2022, ballot (Ballot). City Clerk Radeva said that
the Ballot format is driven by California's elections code. City Manager
McMillen mentioned that the October 3, 2022, meeting, was held at
the request of the two citizens, and it was with regards to the
methodology used to prepare the 10-year budget projections, as
presented to Council at the 7/19/2022 meeting, as Scenarios 1 and 2,
if Measure A is approved or not approved, respectively.
3. Chair Mills and staff announced the Chamber of Commerce candidate
forum was being held in the Wellness Center today, October 5, from
5:00 p.m. to 7:00 p.m.
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ADJOURNMENT
There being no further business, it was moved by Commissioner Mast/Dorsey
to adjourn this meeting at 5:33 p.m. Motion passed unanimously.
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California
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