2023 12 20 FAC Minutes Special MeetingCALL TO ORDER
FINANCIAL ADVISORY COMMISSION
iPECIAL MEETIr'`
MINUTES
WEDNESDAY, DECEMBER 20, 2023
A special meeting of the La Quinta Financial Advisory Commission (Commission) was
called to order at 4:00 p.m. by Chair Dorsey.
PRESENT: Commissioners Anderson, Batavick, Keihl, Mast, Mills, Way, and
Chair Dorsey
ABSENT: None
PLEDGE OF ALLEGIANCE
Commissioner Keihl 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
1. ELECTRICAL SUBSTATION UPGRADE UPDATE
City Manager McMillen provided a brief overview of Imperial Irrigation District's (IID) electric
supply and delivery system to the Coachella Valley (CV), details on the City of La Quinta
substations current state, substation bank upgrades needed and associated costs, possible
funding sources, and IID's source of power. Mr. McMillen said that system wide upgrades
are needed by IID to keep up with growth in the CV.
2. CULTURAL CAMPUS PROJECT (Project) UPDATE
Community Resources Management Analyst Calderon and Public Works Management
Analyst Mignogna provided a detailed presentation on Project location; goals and objectives;
design details; funding sources; current budget appropriations; construction cost estimates;
and campus capacity.
3. NEW COMMISSIONER INTRODUCTION (Added Presentation)
Following the presentations Chair Dorsey welcomed new Commissioner Geoffrey Keihl. The
Commission and staff shared a brief introduction of their background and experiences.
FINANCIAL ADVISORY COMMISSION MINUTES Page 1 of 3 DECEMBER 20, 2023
SPECIAL MEETING
CONSENT CALENDAR ITEMS
1. APPROVE MEETING MINUTES DATED NOVEMBER 8, 2023
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
JUNE 30, 2023
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
SEPTEMBER 30, 2023
Motion — A motion was made and seconded by Commissioners Way/Mills to approve
the Consent Calendar as submitted. Motion passed: ayes — 6, noes — 0, abstain — 1
(Keihl).
BUSINESS SESSION
1. RECEIVE AND FILE FISCAL YEAR 2022/23 MEASURE G SALES TAX
COMPLIANCE REPORT (Report)
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
Finance Director Martinez thanked the subcommittee, which consisted of Commissioners
Batavick and Mast, for their time, recommendations, and thorough review of the Report.
The subcommittee provided an overview of the Report review process and their experience.
The Commission noted the City's continuous fiscal prudence and healthy financial reserves;
discussed reducing the percentage of Measure G reserves by making allocations; and
inquired why the report was presented to Council at the December 19, 2024, meeting in
advance of presenting it to the Commission. Finance Director Martinez explained the Report
is generally presented to Council before year-end and this was Council's last meeting in
2023, and noted every effort is made for the Report to be presented to the Commission prior
to Council review, which could not be accommodated this time due to scheduling conflicts
with meeting dates for the Commission.
Motion — A motion was made and seconded by Commissioners Way/Anderson to receive
and file fiscal year 2022/23 Measure G sales tax compliance report as submitted. Motion
passed unanimously.
2. APPOINT TWO COMMISSIONERS TO SERVE ON THE FISCAL YEAR 2024/25
GENERAL FUND OPERATING BUDGET SUBCOMMITTEE
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
Commissioner's Anderson, Dorsey, and Keihl expressed their willingness to serve on
the fiscal year 2024/25 general fund operating budget subcommittee.
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SPECIAL MEETING
Motion — A motion was made and seconded by Commissioners Batavick/Way to appoint
Commissioner's Anderson, Dorsey, and Keihl to serve on the fiscal year 2024/25
general fund operating budget subcommittee. Motion passed unanimously.
3. RECEIVE AND FILE FIRST QUARTER FISCAL YEAR 2023/24 TREASURY
REPORTS FOR JULY, AUGUST, AND SEPTEMBER 2023
Principal Management Analyst Hallick presented the staff report, which is on file in the
Finance Department.
Principal Management Analyst Hallick gave a brief overview of the City's portfolio
allocations, quarterly earnings, treasury rates, and portfolio returns over the last four
years.
Motion — A motion was made and seconded by Commissioners Mills/Mast to receive and
file the first quarter fiscal year 2023/24 treasury reports for July, August, and September
2023. Motion passed unanimously.
STUDY SESSION — None
DEPARTMENTAL REPORTS — All reports are on file in the Finance Department.
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Staff provided an update on current and upcoming Finance Department projects and City
events and explained the Highway 111 Corridor project summary found on page four of
Attachment 1.
The Commission inquired on the total cost for damages incurred by Hurricane Hiliary in
August 2023 and subsequent storm. Finance Director Martinez said that the City is
assessing total cost for damages incurred and enumerated some of the major damages
caused.
COMMISSIONERS' ITEMS — None
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Dorsey/Mills to adjourn this meeting at 6:01 p.m. Motion passed unanimously.
Respectfully suPmitted,
Jessica Delgado, Administrative Technician/Commission Secretary
City of La Quinta, California
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SPECIAL MEETING