2024 02 07 FAC MinutesCALL TO ORDER
FINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY, FEBRUARY 7, 2024
A regular 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, Kiehl, Mast, Mills, Way (joined the
meeting at 4:03 p.m.) and Chair Dorsey
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 — Confirmed
COMMISSIONER WAY JOINED THE MEETING AT 4.03 P.M.
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS — None
CONSENT CALENDAR ITEMS
1. APPROVE MEETING MINUTES DATED DECEMBER 20, 2023
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
OCTOBER 31, 2023
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
NOVEMBER 30, 2023
CONSENT CALENDAR ITEM NO. 2 — Discussion
The Commission and staff discussed the reduction in development impact fees (DIF) was
due to decrease in building activity; land acquisition expense for Highway 111 and Dune
Palms of $3,583,426 (utilizing housing funds and slated for a future affordable housing
development), listed on Top Five Expenditures/Outlays for October - Non -General Fund,
noted on page 2 of the staff report; and the Highway Bridge Program federal funding
reimbursement of $1,972,448, and the Coachella Valley Association of Governments
(CVAG) reimbursement of $794,818, which are both for the Dune Palms bridge project,
listed on the October 2023 report, noted on page 2 of the staff report.
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Motion — A motion was made and seconded by Commissioners Batavick/Mills to approve
the Consent Calendar as submitted. Motion passed unanimously.
BUSINESS SESSION
1. RECEIVE AND FILE FISCAL YEAR 2022/23 GENERAL FUND YEAR-END
BUDGET REPORT
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
The Commission and staff discussed the general fund revenue variances; capital
improvement program (CIP) carryover budget; efforts underway to identify funding options
for electrical substation infrastructure improvements to increase capacity to allow future
developments in the city; the Village Undergrounding Feasibility Study, available funding
options, approval process, associated costs, and the community's interest in
undergrounding utilities; and the different economic forecasting reports utilized for budget
projections.
Motion — A motion was made and seconded by Commissioners Mills/Way to receive and
file fiscal year 2022/23 general fund year-end budget report as submitted. 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.
Finance Director Martinez thanked the Auditing Services subcommittee, which consisted
of Commissioners Anderson and Dorsey, for their time and review of the City's request
for proposals submitted for auditing services.
The subcommittee provided an overview of their review and experience of the interview
process with the firms.
The Commission inquired about the timeline for completing the City's Annual
Comprehensive Financial Reports (ACFR). Staff said that the ACFR will be completed by
the end of February 2024 and the root cause for the delay in audit process is due to the
new implementations required by the Government Accounting Standards Board.
2. THIRD QUARTER 2023 (JULY -SEPTEMBER) SALES TAX UPDATE FOR THE
CITY OF LA QUINTA
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The Commission and staff discussed timeline for staff receiving the HDL Companies
California forecast sales tax trends report, included as Attachment 2 to the departmental
report.
COMMISSIONERS' ITEMS
The Commission requested staff provide reports and presentations to the Commission in
advance of them being presented to Council so that proper recommendations may be given
prior to Council consideration. Finance Director Martinez explained every effort is made to
present items within the Commission's purview prior to Council consideration, which at times
cannot be accommodated due to meeting dates scheduling conflicts for the Commission;
however, in such rare occasions, the reports are provided to the Commission in advance for
the Commission's review, comments and/or recommendations prior to Council meetings.
Additionally, Finance Director Martinez mentioned that some reports are informative to the
Commission, which are not under the Commission's purview nor require recommendations
or approval.
The Commission asked if staff could provide a listing of reports that require review and
recommendations prior to presenting them to Council.
Commissioner Mills asked if there will be a special meeting on Wednesday, April 3, 2024.
Staff confirmed.
Commissioner Anderson mentioned receiving an email from City Clerk's Office regarding
completing Statements of Economic Interests — Form 700, which is due by April 1, 2024.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Batavick/Mast to adjourn this meeting at 5:09 p.m. Motion passed unanimously.
Respectfully submitted,
Jessica Delgado, Administrative Technician/Commission Secretary
City of La Quinta, California
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