2024 11 13 FAC Minutes
FINANCIAL ADVISORY COMMISSION Page 1 of 4 NOVEMBER 13, 2024
MINUTES
FINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY, NOVEMBER 13, 2024
CALL TO ORDER
A regular quarterly meeting of the La Quinta Financial Advisory Commission
(Commission) was called to order at 3:31 p.m. by Chair Dorsey.
PRESENT: Commissioners Anderson, Batavick, Kiehl, Lee, Mast, Way (joined the
meeting at 3:36 p.m.), and Chair Dorsey
ABSENT: None
PLEDGE OF ALLEGIANCE
Commissioner Anderson led the audience in the Pledge of Allegiance.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA
PUBLIC SPEAKER: Phillip Bettencourt, La Quinta – said he served on the La Quinta
Planning Commission, and currently serves on the Imperial Irrigation District (IID)
Coachella Valley Energy Commission (CVEC) as the at-large appointed representative
for the Coachella Valley; said he is actively trying to stay informed on the energy provider
and power infrastructure needs, availability, and funding matters concerning La Quinta;
provided the Commission with a summary on upcoming meetings of the IID CVEC, the
Vista Santa Rosa Community Council, and City Council which included energy power
related items and services; and thanked the Commission for their service.
CONFIRMATION OF AGENDA – Confirmed
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
1. ARTS AND MUSIC LINE PROJECT UPDATE – PRESENTATION BY
COACHELLA VALLEY ASSOCIATION OF GOVERNMENTS (CVAG)
ASSISTANT DIRECTOR OF TRANSPORTATION RANDY BOWMAN
PRESENTER: CVAG Assistant Director of Transportation Bowman provided a
presentation on the anticipated timeline to complete the design, obtain public agencies
approvals, bid, award, construct, and educational program efforts of the Arts and Music
Line project, an approximately 9-mile community connector to the CV Link and key
destinations, such as schools, affordable housing, retail and employment centers, which
will run along Avenue 48 through the Cities of La Quinta, Indio, Coachella, and Riverside
County, from Washington Street to the Whitewater Channel, and another 6-miles of side
streets.
FINANCIAL ADVISORY COMMISSION Page 2 of 4 NOVEMBER 13, 2024
MINUTES
PRESENTER: CVAG Transportation Program Manager Julie Mignogna provided an
update on public engagement, outreach, and the education efforts regarding the project;
and noted CVAG’s collaborations with community organizations to educate the public on
using multi-modal alternative transportation facilities.
Mr. Bowman also provided an update on the status of the CV Link regional trail project, a
50-mile multi-modal transportation project under construction for bicyclists, pedestrians,
and low speed electric vehicles, that will run continuously throughout the Coachella Valley
cities, from Desert Hot Springs to Coachella.
The Commission discussed that although grant funds were received to fund the large
majority of the Art and Music Line project, grant funds are generated via public tax
collections, thus, the project is tax-funded; annual maintenance costs and responsibilities;
usage, features, safety, and estimated costs and timeline of the project; importance of
public outreach and educational efforts; and was pleased to see it connecting to schools
and providing a safe path of travel for children.
COMMISSIONER WAY JOINED THE MEETING AT 3:36 P.M.
CONSENT CALENDAR ITEMS
1. RECEIVE AND FILE SPECIAL MEETING MINUTES DATED OCTOBER 2,
2024
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
AUGUST 31, 2024
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
SEPTEMBER 30, 2024
MOTION – A motion was made and seconded by Commissioners Way/Anderson to
approve the Consent Calendar as presented. Motion passed unanimously.
BUSINESS SESSION
1. APPROVE THE FINANCIAL ADVISORY COMMISSION SUBCOMMITTEE
RECOMMENDATIONS ON FUNDING OUTSTANDING PENSION
OBLIGATIONS AND REVISIONS TO THE GENERAL FUND BALANCE AND
RESERVES POLICY (POLICY) FOR CITY COUNCIL CONSIDERATION
Financial Services Analyst Hallick presented the staff report, which is on file in the Finance
Department.
FINANCIAL ADVISORY COMMISSION Page 3 of 4 NOVEMBER 13, 2024
MINUTES
The Commission commended staff for their expertise and efforts in actively managing the
City’s pension program; the delay in CalPERS reporting on the City’s pension funding
levels and its effects on correctly estimating the City’s unfunded pension liability;
establishing a minimum of 95% pension funding; and a 20% target for the trust fund.
The Commission reached a consensus to change the language under Section V – City’s
Reserve Categories and Targets, subsection (E) – Pension Stabilization Fund, to state
“… 100% or more funded status when taking into consideration the trust balance…”, listed
on page 3 of Policy, or page 31 of the agenda packet.
MOTION – A motion was made and seconded by Commissioners Way/Kiehl to approve
the Commission’s Subcommittee recommendations on funding outstanding pension
obligations and revisions to the General Fund Balance and Reserves Policy for Council
consideration, as amended to include the language addition noted in the Commission’s
discussion above. Motion passed unanimously.
STUDY SESSION – None
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Finance Director Martinez presented the departmental report, which is on file in the
Finance Department, and provided an update on current and upcoming Finance
Department projects, current audits, and upcoming City events.
2. SECOND QUARTER 2024 (APRIL-JUNE) SALES TAX UPDATE
Financial Services Analyst Hallick presented the departmental report, which is on file in
the Finance Department.
The Commission discussed the importance of sales tax consultants, the City’s being HDL
Companies (HDL), and errors in reporting they discover and the funds they recover; and
sales tax projections and trends.
COMMISSIONERS’ ITEMS
Commissioner Kiehl requested clarification from the City Attorney on the City’s role in
facilitating and financing the construction and maintenance of energy power distribution
substations, specifically whether it is permissive or required, funding options, and
cautioned about setting a precedent. Staff said these efforts are led by the City Manager
in coordination with the City Attorney and if any updates are provided to Council, staff will
inform the Commission.
FINANCIAL ADVISORY COMMISSION Page 4 of 4 NOVEMBER 13, 2024
MINUTES
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Batavick/Anderson to adjourn this meeting at 5:00 p.m. Motion passed unanimously.
Respectfully submitted,
Amanda Guerrero, Temporary Administrative Technician
City of La Quinta, California