2024 10 02 FAC Special MeetingGEM of the DESERT —
NOTICE AND CALL OF 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, October 2, 2024, starting
at 3:30 p.m.; at La Quinta City Hall located at 78495 Calle Tampico, La Quinta, CA 92253
for the following purpose:
CONSENT CALENDAR
1. APPROVE SPECIAL MEETING MINUTES DATED AUGUST 29, 2024
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED JULY 31,
2024
BUSINESS SESSION
1. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO AUDIT AND
FORMULATE THE ANNUAL MEASURE G SALES TAX OVERSIGHT
COMPLIANCE REPORT FOR FISCAL YEAR 2023/24
2. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO REVIEW THE
CITY'S OUTSTANDING PENSION OBLIGATION
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Dated: September 26, 2024
Attest:
Claudia Martinez, Interim Commission Secretary
lsl .Keith Dorsey
Keith Dorsey, Chairperson
DECLARATION OF POSTING
I, Claudia Martinez, Interim Commission Secretary, do hereby declare that the foregoing notice for
the La Quinta Financial Advisory Commission Special Meeting of October 2, 2024, was posted on
the City's website, near the entrance to the Council Chamber at 78495 Calle Tampico, and on the
bulletin board at 51321 Avenida Bermudas on September 26, 2024.
Claudia Martinez, Interim Commission Secretary
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING
Dated: September 26, 2024
OCTOBER 2, 2024
GEM ofthe DESERT —
Financial Advisory Commission agendas and
staff reports are now available on the City's
web page: www.laquintaca.gov
SPECIAL MEETING
FINANCIAL ADVISORY COMMISSION
AGENDA
CITY HALL COUNCIL CHAMBER
78495 Calle Tampico, La Quinta
WEDNESDAY, OCTOBER 2, 2024, AT 3:30 P.M.
Members of the public may listen to this meeting by tuning -in live
via www.laquintaca.gov/livemeetings.
CALL TO ORDER
ROLL CALL: Commissioners: Anderson, Batavick, Kiehl, Lee, Mast, Way, and Chair Dorsey
PLEDGE OF ALLEGIANCE
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
At this time, members of the public may address the Commission on any matter not listed on
the agenda pursuant to the "Public Comments — Instructions" listed at the end of the agenda.
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 § 54954.2(b)].
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 SPECIAL MEETING MINUTES DATED AUGUST 29, 2024
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
JULY 31, 2024
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING AGENDA
PAGE
Page 1 of 4 OCTOBER 2, 2024
BUSINESS SESSION
1. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO AUDIT
AND FORMULATE THE ANNUAL MEASURE G SALES TAX OVERSIGHT
COMPLIANCE REPORT FOR FISCAL YEAR 2023/24
2. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO REVIEW
THE CITY'S OUTSTANDING PENSION OBLIGATION
STUDY SESSION - None
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
COMMISSIONERS' ITEMS
ADJOURNMENT
PAGE
PAGE
The La Quinta Financial Advisory Commission's next regular quarterly meeting will be held on
November 13, 2024, commencing at 3:30 p.m. at the La Quinta City Hall Council Chamber,
78495 Calle Tampico, La Quinta, CA 92253.
DECLARATION OF POSTING
I, Claudia Martinez, Interim Secretary of the Financial Advisory Commission of the City of La
Quinta, do hereby declare that the foregoing Agenda for the Commission special meeting of
October 2, 2024, was posted on the City's website, near the entrance to the Council Chamber
at 78495 Calle Tampico and the bulletin board at 51321 Avenida Bermudas, on September 26,
2024.
DATED: September 26, 2024
Claudia Martinez, Interim Commission Secretary
City of La Quinta, California
Public Notices
• Agenda packet materials are available for public inspection: 1) at the Clerk's Office at La Quinta
City Hall, located at 78495 Calle Tampico, La Quinta, California 92253; and 2) on the City's website
at https://www.laquintaca.gov/our-city/city-government/boards-and-commissions/financial-
advisory-commission, in accordance with the Brown Act [Government Code § 54957.5; AB 2647
(Stats. 2022, Ch. 971)].
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING AGENDA
Page 2 of 4 OCTOBER 2, 2024
• The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed
for the hearing impaired, please contact Commission Secretary at (760) 777-7055, 24 -hours in
advance of the meeting and accommodations will be made.
• If background material is to be presented to the Commission during a Commission meeting, please
be advised that 15 copies of all documents, exhibits, etc., must be supplied to the Commission
Secretary for distribution. It is requested that this takes place prior to the beginning of the meeting.
PUBLIC COMMENTS — INSTRUCTIONS
Members of the public may address the Commission on any matter listed or not listed on the
agenda as follows:
WRITTEN PUBLIC COMMENTS can be provided either in-person during the meeting by
submitting 15 copies to the Commission Secretary, it is requested that this takes place prior to
the beginning of the meeting; or can be emailed in advance to CMartinez@LaQuintaCA.gov,
no later than 12:00 p.m., on the day of the meeting. Written public comments will be distributed
to the Commission, made public, and will be incorporated into the public record of the meeting,
but will not be read during the meeting unless, upon the request of the Chair, a brief summary
of public comments is asked to be reported.
If written public comments are emailed, the email subject line must clearly state "Written
Comments" and should include: 1) full name, 2) city of residence, and 3) subject matter.
VERBAL PUBLIC COMMENTS can be provided in-person during the meeting by completing a
"Request to Speak" form and submitting it to the Commission Secretary; it is requested that
this takes place prior to the beginning of the meeting. Please limit your comments to three (3)
minutes (or approximately 350 words). Members of the public shall be called upon to speak by
the Chair.
In accordance with City Council Resolution No. 2022-028, a one-time additional speaker time
donation of three (3) minutes per individual is permitted; please note that the member of the
public donating time must: 1) submit this in writing to the Commission Secretary by completing
a "Request to Speak" form noting the name of the person to whom time is being donated to,
and 2) be present at the time the speaker provides verbal comments.
Verbal public comments are defined as comments provided in the speakers' own voice and
may not include video or sound recordings of the speaker or of other individuals or entities,
unless permitted by the Chair.
Public speakers may elect to use printed presentation materials to aid their comments; 15
copies of such printed materials shall be provided to the Commission Secretary to be
disseminated to the Commission, made public, and incorporated into the public record of the
meeting; it is requested that the printed materials are provided prior to the beginning of the
meeting. There shall be no use of Chamber resources and technology to display visual or
audible presentations during public comments, unless permitted by the Chair.
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING AGENDA
Page 3 of 4 OCTOBER 2, 2024
All writings or documents, including but not limited to emails and attachments to emails,
submitted to the City regarding any item(s) listed or not listed on this agenda are public records.
All information in such writings and documents is subject to disclosure as being in the public
domain and subject to search and review by electronic means, including but not limited to the
City's Internet Web site and any other Internet Web -based platform or other Web -based form
of communication. All information in such writings and documents similarly is subject to
disclosure pursuant to the California Public Records Act [Government Code § 7920.000 et
seq.].
TELECONFERENCE ACCESSIBILITY — INSTRUCTIONS
Teleconference accessibility may be triggered in accordance with AB 2449 (Stats. 2022, Ch. 285),
codified in the Brown Act [Government Code § 54953], if a member of the Commission requests to
attend and participate in this meeting remotely due to `just cause" or "emergency circumstances,"
as defined, and only if the request is approved. In such instances, remote public accessibility and
participation will be facilitated via Zoom Webinar as detailed at the end of this Agenda.
*** TELECONFERENCE PROCEDURES — PURSUANT TO AB 2449***
APPLICABLE ONLY WHEN TELECONFERENCE ACCESSIBILITY IS IN EFFECT
Verbal public comments via Teleconference — members of the public may attend and
participate in this meeting by teleconference via Zoom and use the "raise your hand" feature
when public comments are prompted by the Chair; the City will facilitate the ability for a member of
the public to be audible to the Commission and general public and allow him/her/they to speak on
the item(s) requested. Please note — members of the public must unmute themselves when
prompted upon being recognized by the Chair, in order to become audible to the
Commission and the public.
Only one person at a time may speak by teleconference and only after being recognized by the
Chair.
ZOOM LINK: https://us06web.zoom.us/j/82853067939
Meeting ID: 898 3998 4651
Or join by phone: (253) 215 — 8782
Written public comments — can be provided in person during the meeting or emailed to
CMartinez@LaQuintaCA.gov any time prior to the adjournment of the meeting, and will be
distributed to the Commission, made public, incorporated into the public record of the meeting, and
will not be read during the meeting unless, upon the request of the Chair, a brief summary of any
public comment is asked to be read, to the extent the Committee can accommodate such request.
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING AGENDA
Page 4 of 4 OCTOBER 2, 2024
CALL TO ORDER
CONSENT CALENDAR ITEM NO. 1
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING
MINUTES
THURSDAY, AUGUST 29, 2024
A special meeting of the La Quinta Financial Advisory Commission (Commission) was
called to order at 3:30 p.m. by Chair Dorsey.
PRESENT: Commissioners Anderson, Batavick, Kiehl, Lee, Mast, and Chair Dorsey
ABSENT: Commissioner Way
PLEDGE OF ALLEGIANCE
Commissioner Mast led the audience in the Pledge of Allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA — None
CONFIRMATION OF AGENDA
Finance Director Martinez requested that Study Session Item No. 1 regarding Review of
the City's Strategic Plan Draft be moved up and considered out of Agenda order,
immediately after Business Session Item No. 1. The Commission concurred.
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS — None
CONSENT CALENDAR ITEMS
1. APPROVE SPECIAL MEETING MINUTES DATED JUNE 5, 2024
2. APPROVE MEETING MINUTES DATED AUGUST 14, 2024
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED APRIL
30, 2024
4. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED MAY
31, 2024
MOTION — A motion was made and seconded by Commissioners Batavick/Anderson to
approve the Consent Calendar as presented. Motion passed: ayes — 6, noes — 0, abstain
— 0, absent — 1 (Way).
BUSINESS SESSION
1. RECEIVE AND FILE THE ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2023
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING - MINUTES
Page 1 of 4 AUGUST 29, 2024
5
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
CONSULTANT: Lauryn Stapleton, Senior Manager with Eide Bailly LLP, auditing firm for
the City — explained the auditor's scope of work; reported that auditors provided an
"unmodified opinion," which is the highest level; and explained the role of the auditors and
their findings.
The Commission discussed effectiveness of adjustmcnts in last year's audit the internal
control over financial reporting and the audit adjustments that resulted in classification of
a material weakness adjustment in the prior year; implementation of material weakness
corrections; reoccurring material weaknesses, if any; reason for Housing Authority Fund
classification change; and reason for the audit report completion date.
MOTION — A motion was made and seconded by Commissioners Kiehl/Mast to receive
and file the Annual Comprehensive Financial Report for the year ended June 30, 2023,
as presented. Motion passed: ayes — 6, noes — 0, abstain — 0, absent — 1 (Way).
STUDY SESSION »> taken out of Agenda order
1. REVIEW STRATEGIC PLAN DRAFT
Marketing and Communications Specialist Barkas presented the staff report, which is on
file in the Finance Department.
The Commission discussed community input in the process; expansion of the City's
boundaries not advisable until electrical capacity is addressed; possibility of City building
new electrical substations, then contracting with developers for reimbursement over time,
or cost-sharing with developers and Imperial Irrigation District (IID); attracting artificial
intelligence (Al) firms, which requires providing high volumes of electricity; improvement
of current draft over the original; IID grid being the most pressing matter; consider
requiring undergrounding of all new utility lines; and public safety being a critical
component.
BUSINESS SESSION — Continued
2. APPOINT MEMBERS OF THE COMMISSION TO SERVE AS CHAIRPERSON
AND VICE -CHAIRPERSON FOR FISCAL YEAR 2024-25
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
Commissioners discussed their general support to have the current Chair Dorsey and
Vice -Chair Anderson serve in their current capacities for another term.
MOTION — A motion was made and seconded by Commissioners Batavick/Kiehl to
appoint Commissioners Dorsey and Anderson to serve as Chairperson and Vice -
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING - MINUTES
Page 2 of 4 AUGUST 29, 2024
6
Chairperson, respectively, for fiscal year 2023/24. Motion passed: ayes — 6, noes — 0,
abstain — 0, absent — 1 (Way).
3. RECEIVE AND FILE FOURTH QUARTER FISCAL YEAR 2023/24 TREASURY
REPORTS FOR APRIL, MAY, AND JUNE 2024
Principal Management Analyst Hallick presented the staff report, which is on file in the
Finance Department.
Commissioners discussed footnote number one details; broker consensus with staff's
investing decision; anticipation of growth from FY 2022/23 to 2023/24; CaIPERS pension
trust status, interest options, debt pay down; confidence in reforms made at CaIPERS for
better oversight; and timing of actuarial reports, making appropriations sooner than mid-
year, and conducting a review of past 24 or more months to determine the benefit of
earlier appropriations.
MOTION — A motion was made and seconded by Commissioners Mast/Anderson to
receive and file the fourth quarter fiscal year 2023/24 Treasury Reports for April, May,
and June 2024, as presented. Motion passed: ayes — 6, noes — 0, abstain — 0, absent —
1 (Way).
STUDY SESSION »> taken up above after Business Session No. 1
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Finance Director Martinez provided an update on current and upcoming Finance
Department projects and City events, with the report on file in the Finance Department.
The Commission discussed Talus project updates; and Highway 111 Re -envisioning
project scope of work and cost estimate timeline.
2. FIRST QUARTER 2024 (JANUARY -MARCH) SALES TAX UPDATE
Principal Management Analyst Hallick provided an update on the 1st quarter 2024
(January — March) sales tax, with the report on file in the Finance Department.
The Commission discussed Dollar General Corp disappointing earnings; and Measure G
and sales tax adjustments.
COMMISSIONERS' ITEMS
Commissioner Kiehl noted the delay in completion of the 2023 audit, and cancellation of
the Commission's meeting a few weeks ago due to lack of a quorum; concerned about
staff impact; and suggested adjusting the meeting calendar with August meetings being
dark to allow staff to meet other deadlines.
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING - MINUTES
Page 3 of 4 AUGUST 29, 2024
7
Staff will provide meeting date options including consequences of date changes.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Anderson/Mast to adjourn this meeting at 5:15 p.m. Motion passed: ayes — 6, noes — 0,
abstain — 0, absent — 1 (Way).
Respectfully submitted,
Claudia Martinez, Interim Commission Secretary
City of La Quinta, California
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING - MINUTES
Page 4 of 4 AUGUST 29, 2024
8
CONSENT CALENDAR ITEM NO. 2
City of La Quinta
FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: October 2, 2024
STAFF REPORT
AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
JULY 31, 2024
RECOMMENDATION
Receive and file revenue and expenditure report dated July 31, 2024.
EXECUTIVE SUMMARY
• The report summarizes the City's year-to-date (YTD) revenues and period
expenditures for July 2024 (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 2024 for fiscal year 2024/25.
Current Total Budget — represents original adopted budgets plus any Council
approved budget amendments from throughout the year. The 2023/24 operating and
Capital Improvement Project carryovers to 2024/25 will be processed after the year-
end audit is completed.
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.
9
July 2024 Revenues
Comparison to 2023
MTD
YTD
Percent of
Budget
General Fund (GF) $
All Funds $
855,869 $
2,014,774 $
855,869
2,014,774
July2024 Expenditures
YTD
Percent of
Budget
1.03% $
1.28% $
608,220
1,572,521
0.78%
1.27%
Comparison to 2023
MTD YTD
Percent of
Budget
General Fund $
Payroll (GF) $
All Funds
702,476 $ 702,476
492,338 $ 492,338
2,328,761 $ 2,328,761
YTD
Percent of
Budget
0.84% $
3.48% $
1.60% $
1,209,477
822,505
3,312,057
1.66%
6.14%
2.80%
To • Five Revenue/Income Sources for Jul
General Fund
Zoning Change Mitigation Fees
STVR Registration Fee
Building Plan Check Fees
Building Permits
Business Licenses
$ 461,756
$ 82,750
$ 56,409
$ 42,406
$ 27,244
Non -General Fund
Allocated Interest
Non -allocated Interest (Pension Trust)
SilverRock Green Fees
Housing Authority Rent Revenue
Developer Impact Fees- Transportation
$ 715,129
$ 148,435
$ 91,343
$ 81,054
$ 48,023
Top Five Expenditures/Outlays for July
General Fund
Visit Greater Palm Springs
Membership Dues(')
Parks Maintenance Services
Credit Card Fees
Parks Materials & Supplies
$ 98,443
$ 14,766
$ 14,225
$ 11,503
$ 7,731
Non -General Fund
Liability Insurance
Earthquake Insurance
Workers Comp Insurance
Property Insurance
SilverRock Maintenance
$ 379,413
$ 242,000
$ 225,876
$ 186,956
$ 156,820
(1)Southern California Association of Governments (SCAG), and Local Agency Formation Commission (LAFCO)
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. 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:
Approved by:
Attachment: 1
Rosemary Hallick, Principal Management Analyst
Claudia Martinez, Finance Director
. Revenue and Expenditure Report for July 31, 2024
10
hiatigra
ATTACHMENT 1
For Fiscal: 2024/25 Period Ending: 07/31/2024
CALIFORNIA Revenue Summary
Fund
Variance
Original Current Period Fiscal Favorable Percent
Total Budget Total Budget Activity Activity (Unfavorable) Used
101- GENERAL FUND 82,714,300 82,714,300 855,869 855,869 -81,858,431 1.03%
105 - DISASTER RECOVERY FUND 30,000 30,000 0 0 -30,000 0.00%
201- GAS TAX FUND 2,589,000 2,589,000 0 0 -2,589,000 0.00%
202 - LIBRARY & MUSEUM FUND 3,143,000 3,143,000 481 481 -3,142,519 0.02%
203 - PUBLIC SAFETY FUND (MEAS 5,000 5,000 0 0 -5,000 0.00%
210 - FEDERAL ASSISTANCE FUND 190,000 190,000 0 0 -190,000 0.00%
212 - SLESA (COPS) FUND 103,000 103,000 0 0 -103,000 0.00%
215 - LIGHTING & LANDSCAPING F 4,000,500 4,000,500 0 0 -4,000,500 0.00%
221- AB 939 - CALRECYCLE FUND 80,000 80,000 0 0 -80,000 0.00%
223 - MEASURE A FUND 2,025,000 2,025,000 0 0 -2,025,000 0.00%
225 - INFRASTRUCTURE FUND 1,000 1,000 0 0 -1,000 0.00%
226 - EMERGENCY MANAGEMENT 13,000 13,000 0 0 -13,000 0.00%
227 - STATE HOMELAND SECURIT) 5,500 5,500 0 0 -5,500 0.00%
230 - CASp FUND, AB 1379 21,000 21,000 1,364 1,364 -19,636 6.50%
231- SUCCESSOR AGCY PA 1 RORF 20,260,000 20,260,000 7 7 -20,259,993 0.00%
235 - SO COAST AIR QUALITY FUNI 54,500 54,500 0 0 -54,500 0.00%
237 - SUCCESSOR AGCY PA 1 ADM 13,820 13,820 0 0 -13,820 0.00%
241- HOUSING AUTHORITY 1,452,000 1,452,000 81,054 81,054 -1,370,946 5.58%
243 - RDA LOW -MOD HOUSING FL 60,000 60,000 0 0 -60,000 0.00%
247 - ECONOMIC DEVELOPMENT 1 40,000 40,000 625 625 -39,375 1.56%
249 - SA 2011 LOW/MOD BOND FI 18,000 18,000 0 0 -18,000 0.00%
250 - TRANSPORTATION DIF FUNC 540,000 540,000 48,023 48,023 -491,977 8.89%
251- PARKS & REC DIF FUND 253,000 253,000 17,160 17,160 -235,840 6.78%
252 - CIVIC CENTER DIF FUND 103,000 103,000 10,928 10,928 -92,072 10.61%
253 - LIBRARY DEVELOPMENT DIF 50,000 50,000 3,235 3,235 -46,765 6.47%
254 - COMMUNITY & CULTURAL C 105,000 105,000 7,790 7,790 -97,210 7.42%
255 - STREET FACILITY DIF FUND 1,000 1,000 0 0 -1,000 0.00%
256 - PARK FACILITY DIF FUND 100 100 0 0 -100 0.00%
257 - FIRE PROTECTION DIF 53,000 53,000 3,267 3,267 -49,733 6.17%
259 - MAINTENANCE FACILITIES D 47,000 47,000 3,429 3,429 -43,571 7.30%
270 - ART IN PUBLIC PLACES FUNC 158,000 158,000 10,324 10,324 -147,676 6.53%
275 - LQ PUBLIC SAFETY OFFICER 3,000 3,000 0 0 -3,000 0.00%
299 - INTEREST ALLOCATION FUN1 0 0 715,129 715,129 715,129 0.00%
310 - LQ FINANCE AUTHORITY DEE 1,500 1,500 0 0 -1,500 0.00%
401- CAPITAL IMPROVEMENT PR( 27,218,109 27,218,109 0 0 -27,218,109 0.00%
405 - SA PA 1 CAPITAL IMPRV FUN 500 500 0 0 -500 0.00%
501- FACILITY & FLEET REPLACEM 1,705,000 1,705,000 0 0 -1,705,000 0.00%
502 - INFORMATION TECHNOLOG' 2,276,708 2,276,708 3,208 3,208 -2,273,500 0.14%
503 - PARK EQUIP & FACILITY FUN 500,000 500,000 0 0 -500,000 0.00%
504 - INSURANCE FUND 1,363,230 1,363,230 0 0 -1,363,230 0.00%
601- SILVERROCK RESORT 5,484,500 5,484,500 104,446 104,446 -5,380,054 1.90%
602 - SILVERROCK GOLF RESERVE 98,000 98,000 0 0 -98,000 0.00%
760 - SUPPLEMENTAL PENSION PL 7,000 7,000 0 0 -7,000 0.00%
761- CERBT OPEB TRUST 40,000 40,000 0 0 -40,000 0.00%
762 - PARS PENSION TRUST 200,000 200,000 148,435 148,435 -51,565 74.22%
Report Total: 157,026,267 157,026,267 2,014,774 2,014,774 -155,011,493 1.28%
Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best
resource for all final audited numbers.
Page 1 of 3
11
For Fiscal: 2024/25 Period Ending: 07/31/2024
Expenditure Summary
Variance
Original Current Period Fiscal Favorable Percent
Fund Total Budget Total Budget Activity Activity (Unfavorable) Used
101- GENERAL FUND 83,331,665 83,331,665 702,476 702,476 82,629,189 0.84%
201- GAS TAX FUND 3,443,100 3,443,100 21,126 21,126 3,421,974 0.61%
202 - LIBRARY & MUSEUM FUND 2,555,615 2,555,615 5,044 5,044 2,550,571 0.20%
210 - FEDERAL ASSISTANCE FUND 198,500 198,500 0 0 198,500 0.00%
212 - SLESA (COPS) FUND 100,000 100,000 0 0 100,000 0.00%
215 - LIGHTING & LANDSCAPING F 3,957,700 3,957,700 30,592 30,592 3,927,108 0.77%
221- AB 939 - CALRECYCLE FUND 200,000 200,000 0 0 200,000 0.00%
223 - MEASURE A FUND 2,335,000 2,335,000 0 0 2,335,000 0.00%
226 - EMERGENCY MANAGEMENT 12,000 12,000 9,750 9,750 2,250 81.25%
227 - STATE HOMELAND SECURITI 5,000 5,000 0 0 5,000 0.00%
230 - CASp FUND, AB 1379 5,500 5,500 0 0 5,500 0.00%
231- SUCCESSOR AGCY PA 1 RORF 4,452,755 4,452,755 0 0 4,452,755 0.00%
235 - SO COAST AIR QUALITY FUNI 40,000 40,000 0 0 40,000 0.00%
237 - SUCCESSOR AGCY PA 1 ADM 10,000 10,000 0 0 10,000 0.00%
241- HOUSING AUTHORITY 1,715,440 1,715,440 78,359 78,359 1,637,081 4.57%
243 - RDA LOW -MOD HOUSING FL 250,000 250,000 0 0 250,000 0.00%
247 - ECONOMIC DEVELOPMENT I 31,500 31,500 2,450 2,450 29,050 7.78%
249 - SA 2011 LOW/MOD BOND FI 250,000 250,000 0 0 250,000 0.00%
250 -TRANSPORTATION DIF FUNC 1,579,109 1,579,109 0 0 1,579,109 0.00%
253 - LIBRARY DEVELOPMENT DIF 15,000 15,000 0 0 15,000 0.00%
254 - COMMUNITY & CULTURAL C 500,000 500,000 0 0 500,000 0.00%
259 - MAINTENANCE FACILITIES D 100,000 100,000 0 0 100,000 0.00%
270 - ART IN PUBLIC PLACES FUNC 233,000 233,000 0 0 233,000 0.00%
310 - LQ FINANCE AUTHORITY DEE 1,500 1,500 0 0 1,500 0.00%
401- CAPITAL IMPROVEMENT PR( 27,218,109 27,218,109 2,884 2,884 27,215,225 0.01%
501- FACILITY & FLEET REPLACEM 1,628,750 1,628,750 1,634 1,634 1,627,116 0.10%
502 - INFORMATION TECHNOLOG' 3,217,945 3,217,945 123,647 123,647 3,094,298 3.84%
503 - PARK EQUIP & FACILITY FUN 2,000,000 2,000,000 1 1 1,999,999 0.00%
504 - INSURANCE FUND 1,058,000 1,058,000 1,036,045 1,036,045 21,955 97.92%
601- SILVERROCK RESORT 5,365,000 5,365,000 299,185 299,185 5,065,815 5.58%
760 - SUPPLEMENTAL PENSION PL 12,850 12,850 12,833 12,833 17 99.87%
761- CERBT OPEB TRUST 1,500 1,500 0 0 1,500 0.00%
762 - PARS PENSION TRUST 30,000 30,000 2,735 2,735 27,265 9.12%
Report Total: 145,854,538 145,854,538 2,328,761 2,328,761 143,525,777 1.60%
Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best
resource for all final audited numbers.
Page 2 of 3
12
Fund Descriptions
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.
105
Disaster Recovery Fund
Accounts for use of one-time federal funding designed to deliver relief to American workers and aid in the economic
recovery iin the wake of COVID-19. The American Rescue Plan Act (ARPA) was passed by Congress in 2021 to
provide fiscal recovery funds to state and local governments.
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.
220
Quimby Fund
Developer fees received under the provisions of the Quimby Act for park development and improvements.
221
A6939 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, A61379 / S61186
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 and transfers from General Fund for future economic development.
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.
259
Maintenance Facilities DIF Fund
Developer impact fees collected for specific public improvements - maintenance facilities.
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.
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.
Page 3 of 3
13
14
BUSINESS SESSION ITEM NO. 1
City of La Quinta
FINANCIAL ADVISORY COMMISSION SPECIAL MEETING October 2, 2024
STAFF REPORT
AGENDA TITI : APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
AUDIT AND FORMULATE THE ANNUAL MEASURE G SALES TAX OVERSIGHT
COMPLIANCE REPORT FOR FISCAL YEAR 2023/24
RECOMMENDATION
Appoint two Financial Advisory Commissioners to audit and formulate the annual
Measure G Compliance Report for Fiscal Year 2023/24.
EXECUTIVE SUMMARY
• Measure G, the one percent (1%) Transactions and Use Tax measure was
approved by voters at the November 8, 2016 General Election and subsequently
adopted by resolution on December 20, 2016 with an effective date of April 1, 2017.
Additional funds are subject to citizen oversight.
• Staff recommends the Financial Advisory Commission (FAC) appoint two
Commissioners to serve on the sub -committee to verify revenue and expenses
associated with Measure G funds.
• The sub -committee shall prepare a report and present their findings to the FAC on
November 13, 2024, and to City Council on December 3, 2024.
BACKGROUND/ANALYSIS
The Measure 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.
Starting in June 2017, Measure G funds have been received monthly. City staff
recommends appointing two Commissioners on the sub -committee. Staff and the sub-
committee shall present a report to FAC on November 13, 2024 for discussion and
confirmation prior to City Council review and approval on December 3, 2024. Staff
anticipates up to two, two-hour meetings during the next month.
15
The review will include the following:
1. A review of revenue received during fiscal year 2023/24
2. A review of approved use of funds for capital projects, reserves, and contract
services
3. A review of proposed future uses
4. A review of current funds available for appropriation
5. A review of the proposed FY 2023/24 financial statement balance and disclosure
ALTERNATIVES
The subcommittee may be comprised of up to three commissioners.
Prepared by: Claudia Martinez, Finance Director/City Treasurer
16
BUSINESS SESSION ITEM NO. 2
City of La Quinta
FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: October 2, 2024
STAFF REPORT
AGENDA TITLI- : APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO
REVIEW THE CITY'S OUTSTANDING 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 current trust balance and
actuarial pension reports.
• The subcommittee shall prepare a report and present key findings to the FAC on
December 4, 2024.
BACKGROUND/ANALYSIS
Over the past several years, the City has worked diligently towards fully funding our pension
system to secure its future availability, and to realize significant savings in interest costs of
carrying large unfunded liability balances.
Annually in August, the California Public Employers' Retirement System (CaIPERS)
publishes information regarding the financial status of pension plans as well as projections
and risk measures to aid in planning for the future; this year's current reports will be for fiscal
year ending June 30, 2023. 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.
In addition to direct payments to the CaIPERS system, the City's Fund Balance and
Reserves Policy contains a funding target for a pension trust that was established to reserve
money for outstanding pension obligations.
17
City staff recommends appointing two Commissioners to the subcommittee to review the
City's current outstanding pension obligation as of 2023, the CaIPERS 2024 returns, and
potential funding options. Staff and the subcommittee shall present a report to FAC on
December 4, 2024 for discussion and possible recommendations for the City Council to take
under consideration. Staff anticipates the time commitment for the subcommittee to be up
two, 1-2 hour meetings during the months of October and/or November.
The review will include the following:
1. An overview of the CaIPERS system and the City's pension obligations
2. An overview of CaIPERS Actuarial Pension Reports and projections
3. A review of the current pension trust account
ALTERNATIVES
The FAC may choose not to study the pension obligations at this time.
Prepared by: Rosemary Hallick, Principal Management Analyst
Approved by: Claudia Martinez, Finance Director/City Treasurer
18
DEPARTMENTAL REPORT ITEM NO. 1
City of La Qu i nta
FINANCIAL ADVISORY COMMISSION SPECIAL MEETING
DEPARTMENT REPORT
TO: Members of the Financial Advisory Commission
FROM: Claudia Martinez, Finance Director
DATE: October 2, 2024
SUBJECT: FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
In addition to items presented as staff reports, the Finance Department would like to
provide updates on the following matters.
AUDIT & FINANCIAL REPORTING
• Citywide Comprehensive Audit for fiscal year 2023/24 will take place from
November 25 through December 6
o Year-end entries and audit preparation is well underway
• Annual Street and Road Improvement Audit for fiscal year 2023/24, to be filed with
the State Controller's Office, will take place in November
• Annual Measure A Local Streets and Roads Audit for fiscal year 2023/24, to be
filed with the Riverside County Transportation Commission, will take place in
November
COMMITTEE UPDATES
• 10 -Year Projection Task Force (Commissioners Anderson, Batavick, and Dorsey)
o Initial meeting will be held on October 23, 2024
• Financial Statement and Audit training - staff is currently researching options with
the new auditing firm
CITY UPDATES
• Travertine Development
o Approved by Planning Commission & City Council
o Development Agreement allows for the formation of Community Facilities
Districts (CFDs).
• Hwy 111 Corridor Specific Plan; prior City Council and Planning Commission joint
meeting held on:
o September 26, 2023
o To date, expenditures related to the project are detailed in the Project
Activity Report (Attachment 1), in the amount of $1,042,817.33. Revenue
allocations of Measure G do not yet include the most recent quarter entry.
19
• The City is currently exploring the following:
o Feasibility of undergrounding utilities in various areas of the City; prior City
Council study sessions held on:
• September 19, 2023
• December 19, 2023
o Imperial Irrigation District (IID) power distribution substations in La Quinta
cost -share options for upgrades; prior City Council study sessions held on
January 16, 2024. City Manager's Office is in negotiations with IID and
all impacted stakeholders to find an equitable solution. Agreement with
IID would be required before equipment can be ordered; pending design
approval from IID, and final estimated costs before the City's potential
cost-sharing is defined, which would be presented to Council for
approval. Staff encourages the FAC members to view the meetings as
time permits.
• Tropical Storm Hilary — Federal Disaster Assistance
o The City is currently working with FEMA and meeting on a weekly basis on
the reporting and reimbursement process.
It is important to note the items mentioned in this update are in addition to the daily
functions of the Finance Department, which include, but are not limited to, staff report
writing/review, payroll, accounts payable, accounts receivable, revenue processing,
journal entries, capital accounting, project accounting, purchasing, investing,
cash/treasury management, bank reconciliations, budgeting, research and analysis, staff
training and development, and general financial support for all City departments.
Attachment: 1. Project Activity Report
20
adit a City of La Quinta
ATTACHMENT 1
Project Activity Report
By Project Number
Report Dates: 07/01/2019 - 09/26/2024
Project Number Project Name Group Type Status
201905 Highway 111 Corridor Area Plan Implementati Fund 401 Construction in Process St Improvements Active
Revenues
Account Key Account Name Category Total Activity
201905MG Measure G Funding Measure G - Measure G Funding -860,167.91
GL Account Number
401-0000-49500
401-0000-49500
GL Account Name Post Date Description
Transfers In 03/31/2020 MG 201905 HWY 111 CORRIDOR PLAN
Transfers In 06/30/2020 MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
401-0000-49500 Transfers In
09/30/2020 MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
12/31/2020 MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
03/31/2021 MG 201905 HIGHWAY 111 CORRIDOR AREA PLAN
06/30/2021 MG HIGHWAY 111 CORRIDOR AREA PLAN
09/30/2021 MG 201905 HIGHWAY 111 CORRIDOR PLAN
12/31/2021 MG 201905 HWY CORRIDOR AREA PLAN
03/31/2022 MG 201905 HWY CORRIDOR AREA PLAN
06/30/2022 MG 201905 HWY CORRIDOR AREA PLAN
09/30/2022 MG 201905 HWY CORRIDOR AREA PLAN
12/31/2022 MG 201905 HIGHWAY 111 CORRIDOR AREA
03/31/2023 MG 201905 HIGHWAY 111 CORRIDOR AREA
06/30/2023 MG 201905 HIGHWAY 111 CORRIDOR AREA
09/30/2023 MG 201905 HIGHWAY 111 CORRIDOR AREA
12/31/2023 MG 201905 HIGHWAY 111 CORRIDOR AREA
03/31/2024 MG 201905 HIGHWAY 111 CORRIDOR AREA
Vendor Name
Item Number Activity
- 1,980.00
- 5,006.25
FY 19/20 Total: -6,986.25
- 11,715.00
- 41,035.00
- 7,955.00
- 230,049.59
FY 20/21 Total: -290,754.59
- 2,995.00
- 30,468.25
- 3,020.00
- 130,479.46
FY 21/22 Total: -166,962.71
- 14,775.00
- 4,537.50
- 145,350.50
- 120,554.00
FY 22/23 Total: -285,217.00
- 49,950.15
- 1,662.50
- 58,634.71
FY 23/24 Total: -110,247.36
Total Revenues: -860,167.91
Expenses
Account Key Account Name Category Total Activity
2019050 Design Expense Design - Design Expense 944,293.58
GL Account Number GL Account Name Post Date Description Vendor Name Item Number Activity
401-0000-60185 Design 12/18/2020 2019-05 HWY 111 CORRIDOR PROJECT (PLAN&ENG) GHD INC. 151505 8,290.00
401-0000-60185 Design 12/18/2020 2019-05 HWY 111 CORRIDOR PROJECT (PLAN&ENG) GHD INC. 153361 25,600.00
9/26/2024 1:19:56 PM Page 1 of 5
21
Project Activity Report Report Dates: 07/01/2019 - 09/26/2024
GL Account Number
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
401-0000-60185
201905P
GL Account Number
401-0000-60103
401-0000-60103
GL Account Name
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Design
Professional Expense
GL Account Name
Professional Services
Professional Services
Post Date
04/16/2021
04/16/2021
06/11/2021
06/25/2021
10/08/2021
10/29/2021
04/22/2022
04/22/2022
06/30/2022
06/30/2022
09/02/2022
03/03/2023
03/03/2023
03/03/2023
03/03/2023
03/17/2023
06/30/2023
06/30/2023
06/30/2023
06/30/2023
06/30/2023
09/08/2023
01/26/2024
05/24/2024
05/24/2024
06/30/2024
06/30/2024
09/20/2024
09/20/2024
09/20/2024
Description
02/2021 - HWY 111 PLANNING/ ENGINEERING SVCS
12/2020 - HWY 111 PLANNING/ ENGINEERING SVCS
04/2021 - HWY 111 PLANNING/ENGINEERING SVCS
05/2021 - HWY 111 PLANNING/ENGINEERING SVCS
06/2021 - HWY 111 PLANNING/ENGINEERING SVCS
07/2021 - HWY 111 PLANNING/ENGINEERING SVCS
03/24/22 - HWY 111 SITE TOUR LUNCH
03/24/22 - HWY 111 SITE TOUR TRANSPORTATION
03/2022 HWY 111 CORRIDOR PLANNING/ENGINEERIN
06/2022 HWY 111 CORRIDOR PLANNING/ENGINERRI
07/2022 - HWY 111 CORRIDOR PLANNING/ENGINERRI
09/2022 HWY 111 CORRIDOR PLANNING/ENGINEERIN
10/2022 HWY 111 CORRIDOR PLANNING/ENGINEERIN
11/2022 HWY 111 CORRIDOR PLANNING/ENGINEERIN
12/2022 HWY 111 CORRIDOR PLANNING/ENGINEERIN
01/2023 HWY 111 CORRIDOR PLANNING/ENGINEERIN
02/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERI
03/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERI
04/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERI
05/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERI
06/2023 - HWY 111 CORRIDOR PLANNING/ENGINERRI
07/2023 HWY 111 CORRIDOR PLANNING/ENGINEERIN
10/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERI
01/2024 HWY 111 CORRIDOR PLANNING/ENGINEERIN
03/2024 HWY 111 CORRIDOR PLANNING/ENGINEERIN
04/2024 HWY 111 CORRIDOR PLANNING/ENGINEERIN
05/01-06/30/24 - ONCALL PLANNING SERVICES
Vendor Name Item Number Activity
GHD INC. 158460 78,461.25
GHD INC. 155454 32,923.75
GHD INC. 161990 75,409.84
GHD INC. 163575 34,827.25
FY 20/21 Total: 255,512.09
GHD INC. 165668 19,315.75
GHD INC. 380-0000621 8,620.00
BANK OF THE WEST (PLEASE SEE MAR'226925BM 207.43
BANK OF THE WEST (PLEASE SEE MAR'226925BM 460.00
GHD INC. 380-0012735 41,235.83
GHD INC. 380-0016011 84,123.70
FY 21/22 Total: 153,962.71
GHD INC. 380-0017688 12,962.50
GHD INC. 380-0020901 49, 617.50
GHD INC. 380-0023845 51,571.25
GHD INC. 380-0024095 18,251.25
GHD INC. 380-0025445 9,171.25
GHD INC. 380-0027217 12,726.75
GHD INC. 380-0028778 18,667.58
GHD INC. 380-0030405 9,366.25
GHD INC. 380-0031910 22,207.51
GHD INC. 380-0033492 22,721.95
GHD INC. 380-0035378 42,803.21
FY 22/23 Total: 270,067.00
GHD INC. 380-0036834 49,312.65
GHD INC. 380-0041445 54,534.71
GHD INC. 380-0047294 32,062.36
GHD INC. 380-0048891 53,767.93
GHD INC. 380-0051494 13,082.70
TERRA NOVA PLANNING & RESE TN1198158 877.50
05/2024 HWY 111 CORRIDOR PLANNING/ENGINEERIN GHD INC.
06/2024 HWY 111 CORRIDOR PLANNING/ENGINEERIN GHD INC.
HWY 111 CONSTRUCTION SIGNAGE BEST SIGNS INC
Professional - Professional Expense
Post Date Description
03/20/2020 02/2020 HIGHWAY 111 CORRIDOR
04/24/2020 03/2020 HIGHWAY 111 CORRIDOR
Vendor Name
NAI CONSULTING INC
NAI CONSULTING INC
FY 23/24 Total: 203,637.85
380-0054142REV 20,296.30
380-0054348 37,277.50
98554 3,540.13
FY 24/25 Total: 61,113.93
Item Number
8 JOB 2019-08
9 JOB 2019-08
80,523.75
Activity
1,980.00
825.00
9/26/2024 1:19:56 PM Page 2 of 5
22
Project Activity Report Report Dates: 07/01/2019 - 09/26/2024
GL Account Number GL Account Name Post Date Description Vendor Name Item Number Activity
401-0000-60103 Professional Services 06/12/2020 05/2020 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 11 JOB 2019-08 330.00
401-0000-60103 Professional Services 06/30/2020 06/2020 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 12 JOB 2019-08 3,851.25
FY 19/20 Total: 6,986.25
401-0000-60103 Professional Services 09/04/2020 07/2020 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 09/25/2020 08/2020 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 10/09/2020 09/2020 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 12/04/2020 10/2020 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 01/15/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 01/22/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 03/05/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 03/19/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 04/23/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 05/28/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 06/18/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 06/30/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 09/17/2021 07/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 09/17/2021 08/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 11/05/2021 09/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 12/03/2021 10/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 01/14/2022 11/2021 - HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 01/14/2022 12/2021 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 02/25/2022 01/2022 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 03/18/2022 02/2022 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 04/15/2022 03/2022 - HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 06/30/2022 05/2022 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 06/30/2022 06/2022 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 08/26/2022 07/2022 2019-05 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 10/07/2022 08/2022 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 10/28/2022 09/2022 - 2019-05 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 12/16/2022 12/2022 - 2019-05 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 02/03/2023 12/2022 - 2019-05 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 02/24/2023 01/2023 - 2019-05 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 05/05/2023 03/2023 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 05/05/2023 03/2023 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 06/23/2023 05/2023 - 2019-05 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 06/30/2023 06/2023 - 2019-05 HIGHWAY 111 CORRIDOR
401-0000-60103 Professional Services 08/25/2023 07/2023 HIGHWAY 111 CORRIDOR
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
NAI CONSULTING INC
13 JOB 2019-08
14 JOB 2019-08
15 JOB 2019-08
16 JOB 2019-08
17 JOB 2019-08
18 JOB 2019-08
19 JOB 2019-08
2019-08.20
2019-08.21
2019-08.22
2019-08.23
2019-08.24
FY 20/21 Total:
2019-08.25
2019-08.26
2019-08.27
2019-08.28
2019-08.29
2019-08.30
2019-08.31
2019-08.32
2019-08.33
2019-08.35
2019-08.36
FY 21/22 Total:
2019-08.37
2019-08.38
2019.08.39
2019-08.41
2019-08.42
2019-08.43
2019-08.45
2019-08.44
2019-08.47
2019-08.48
FY 22/23 Total:
9,240.00
2,475.00
2,182.50
4,962.50
2,657.50
720.00
980.00
3,597.50
2,072.50
1,657.50
1,850.00
2,847.50
35,242.50
630.00
2,365.00
790.00
1,742.50
620.00
930.00
192.50
1,277.50
1,860.00
967.50
1,625.00
13,000.00
1,812.50
1,700.00
1,962.50
875.00
3,312.50
700.00
2,137.50
725.00
1,250.00
675.00
15,150.00
2019-08.49 637.50
9/26/2024 1:19:56 PM Page 3 of 5
23
Project Activity Report Report Dates: 07/01/2019 - 09/26/2024
GL Account Number GL Account Name Post Date Description Vendor Name Item Number Activity
401-0000-60103 Professional Services 10/13/2023 08/2023 - 2019-05 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.50 437.50
401-0000-60103 Professional Services 10/27/2023 09/2023 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.51 700.00
401-0000-60103 Professional Services 11/17/2023 10/2023 - 2019-05 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.52 525.00
401-0000-60103 Professional Services 01/19/2024 11/2023 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.53 887.50
401-0000-60103 Professional Services 01/19/2024 12/2023 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.54 875.00
401-0000-60103 Professional Services 02/23/2024 01/2024 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.55 2,337.50
401-0000-60103 Professional Services 04/26/2024 03/2024 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.57 500.00
401-0000-60103 Professional Services 05/31/2024 04/2024 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.58 750.00
401-0000-60103 Professional Services 06/30/2024 05/2024 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.59 537.50
401-0000-60103 Professional Services 06/30/2024 06/2024 HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2019-08.60 987.50
FY 23/24 Total: 9,175.00
401-0000-60103 Professional Services 09/06/2024 07/2024 - HIGHWAY 111 CORRIDOR NAI CONSULTING INC 2024-03.01 970.00
FY 24/25 Total: 970.00
Total Expenses: 1,024,817.33
201905 Total: 164,649.42
9/26/2024 1:19:56 PM Page 4 of 5
24
Project Activity Report Report Dates: 07/01/2019 - 09/26/2024
Summary
Project Summary
Revenue Over/
Project Number Project Name Total Revenue Total Expense (Under) Expenses
201905 Highway 111 Corridor Area Plan Imr 860,167.91 1,024,817.33 -164,649.42
Project Totals: 860,167.91 1,024,817.33 -164,649.42
Group
Fund 401 Construction in Process
Group Summary
Group Totals:
Total Revenue
860,167.91
860,167.91
Type Summary
Total Expense
1,024,817.33
1,024,817.33
Type Total Revenue Total Expense
St Improvements 860,167.91 1,024,817.33
Type Totals: 860,167.91 1,024,817.33
Revenue Over/
(Under) Expenses
- 164,649.42
-164,649.42
Revenue Over/
(Under) Expenses
- 164,649.42
-164,649.42
9/26/2024 1:19:56 PM Page 5 of 5
25
POWER POINTS
FINANCIAL
ADVISORY
COMMISSION
SPECIAL
MEETING
OCTOBER 2, 2024
October 2, 2024
Financial Advisory Commission
Special Meeting
October 2, 2024
..a
1
October 2, 2024
1
Financial Advisory Commission Special Meeting
10/2/2024
Business Session Item No. 1
Appoint Members of the Commission to Audit and Formulate the
Annual Measure G Sales Tax Oversight Compliance Report for FY
2023/24
3
FY 2022/23 Measure G Report
• Revenue & expenditure summary
• Current funds available for appropriation
• Proposed future uses
• FAC Presentation: November 13
• City Council Presentation: December 3
Fiscal Year
Subcommittee Members
F
FY 2021/22 F Batavick, Luettjohann
FY 2020/21 Anderson, Campbell, Way
2
October 2, 2024
i
Financial Advisory Commission Special Meeting
10/2/2024
Business Session Item No. 2
Appoint Members of the Commission to Review the City's
Outstanding Pension Obligation
5
Recent History of Unfunded
Liability
Plan Year Valuation Date
Unfunded Liability
Discount Rate
6/30/2017
$ 12,048,635
7.25%
Actual Performance 11.20%
Year 'MIMI 2017/18
Required UAL Payments., 544,449
ADPs Made by City •a -
v
6/30/2=='i0/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024
$ 13,897'1,155 $ 15,796,366 $ 9,898,592 $ 14,891,919 $ 4,574,774 ?
7.001.00% 7.00% 6.80% 6.80% 6.80%
8.6011111r 6.701.1 4.70% 21.30% -6.10% 5.80%
2018/19 1M019/20 ,020/21 1.2021/22 2022/23 2023/24
j 686,931 829,72011111 940,011.1,090,399 $ 1,222,155 $ - $
$ 37,41I• 30,001 ,063,70`2,500,000 $ 11,200,000 $ 950,000
III 'MP' IMF
• These values reflect all three of the City's plans — Classic, Tier 2, and
PEPRA combined
• The ADPs made in any given fiscal year may not be included in that June's
valuation report depending on the date payment was sent
6.80%
9.30%
2024/25
120,377
TBD
6
3
October 2, 2024
Previous Studies
Study
Year Commissioners
2020/21 Twohe
2022/23 Anderson - _ sey
-I
Results of previous studies:
• Continued support for payment of Unfunded Liability (UAL)
• Additional Discretionary Payments (ADPs) totaling $4.5 million as a
cumulative result of the 20/21 study and $11.15 million as a cumulative
result of the 22/23 study
• Modifications to Reserve Policy to reflect target amount for Pension Trust
7
The Next Regular Financial Advisory
Commission Meeting will be on
November 13, 2024
8
4
October 2, 2024
5