2024 12 04 FAC Minutes Special MeetingFINANCIAL ADVISORY COMMISSION Page 1 of 3 DECEMBER 4, 2024
SPECIAL MEETING – MINUTES
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING
MINUTES
WEDNESDAY, DECEMBER 4, 2024
CALL TO ORDER
A special meeting of the La Quinta Financial Advisory Commission (Commission) was
called to order at 3:30 p.m. by Commissioner Batavick in his capacity as Acting Presiding
Officer.
PRESENT: Commissioners Batavick, Kiehl, Lee, Mast, Way, and Chair Dorsey (joined
the meeting at 3:39 p.m.)
ABSENT: Commissioner Anderson
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 – Confirmed
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS – None
CONSENT CALENDAR ITEMS
1. RECEIVE AND FILE SPECIAL MEETING MINUTES DATED NOVEMBER 13,
2024
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED JUNE
30, 2024
CONSENT CALENDAR ITEM NO. 2 – COMMENTS
At the Commission’s request, Principal Financial Analyst Hallick explained the County
Government Tax Revenue for Debt Service is property tax revenue allocated to former
Redevelopment Agencies in a Redevelopment Property Tax Trust Fund, established by
the state to pay off former redevelopment project debts per the City’s Recognized
Obligation Payment Schedule approved by the State Department of Finance; the City
currently has two bonds, series 2016 and 2021, which are paid twice a year with this tax
revenue; general boundary descriptions of the City’s redevelopment project areas 1, 2,
and Thermal, part of which was annexed into the La Quinta city limits from the County;
how property tax increment revenue is generated through redevelopment project areas;
FINANCIAL ADVISORY COMMISSION Page 2 of 3 DECEMBER 4, 2024
SPECIAL MEETING – MINUTES
and the State does not receive any property tax revenues, however, if property tax
revenues are not sufficient to fund school budgets, the State is required to use General
Fund monies to provide funding.
CHAIR DORSEY JOINED THE MEETING AT 3:39 P.M.
MOTION – A motion was made and seconded by Commissioners Kiehl/Way to approve
the Consent Calendar as presented. Motion passed: ayes – 6, noes – 0, abstain – 0,
absent – 1 (Anderson).
ACTING PRESIDING OFFICER BATAVICK TURNED OVER PRESIDING
OFFICER DUTIES TO CHAIR DORSEY FOR THE REMAINDER OF THE
MEETING
BUSINESS SESSION
1. RECEIVE AND FILE FISCAL YEAR 2023/24 MEASURE G SALES TAX
COMPLIANCE REPORT (Report)
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
The Commission discussed Council will consider the Report at the December 17, 2024,
meeting; community attendance and input on citywide project priorities at the annual
Community Workshop; Capital Improvement Program (CIP) projects review and approval
process, and funding allocations; importance of the current lack of electrical power
capacity and infrastructure expansion issues from Imperial Irrigation District (IID); City’s
reserve levels; Measure G ballot measure history, revenues are not restricted for certain
uses, and revenues allocation over the years since inception; CIP project management
and oversight require substantial staff time investment; and CIP annual budgets.
MOTION – A motion was made and seconded by Commissioners Lee/Mast to receive
and file fiscal year 2023/24 Measure G Sales Tax Compliance Report as presented.
Motion passed: ayes – 6, noes – 0, abstain – 0, absent – 1 (Anderson).
2. APPOINT TWO FINANCIAL ADVISORY COMMISSIONERS TO SERVE ON THE
FISCAL YEAR 2025/26 GENERAL FUND OPERATING BUDGET
SUBCOMMITTEE
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
Commissioners Lee, Mast, and Way expressed their willingness to serve on the fiscal
year 2025/26 general fund operating budget subcommittee.
FINANCIAL ADVISORY COMMISSION Page 3 of 3 DECEMBER 4, 2024
SPECIAL MEETING – MINUTES
MOTION – A motion was made and seconded by Commissioners Mast/Batavick to
appoint Commissioners Lee, Mast, and Way to serve on the fiscal year 2025/26 General
Fund Operating Budget Subcommittee. Motion passed: ayes – 6, noes – 0, abstain – 0,
absent – 1 (Anderson).
3. RECEIVE AND FILE FIRST QUARTER FISCAL YEAR 2024/25 TREASURY
REPORTS FOR JULY, AUGUST, AND SEPTEMBER 2024
Financial Services Analyst Hallick presented the staff report, which is on file in the Finance
Department.
General discussion followed regarding the new treasury reporting software, Tracker,
featuring multiple user logins, access to market data, customizable dashboard and tools
for tracking upcoming financial deadlines (maturities) and managing the City’s investment
portfolios.
MOTION – A motion was made and seconded by Commissioners Lee/Mast to receive
and file fiscal year 2024/25 Treasury Reports for July, August, and September 2024 as
presented. Motion passed: ayes – 6, noes – 0, abstain – 0, absent – 1 (Anderson)
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, including audits currently underway, annual reports, committee
updates, citywide project updates, and upcoming City events.
COMMISSIONERS’ ITEMS
The Commission was pleased with the City’s annual Holiday Open House held the night
before at City Hall; and noted its gratitude to the City and staff’s service and dedication.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Lee/Mast to adjourn this meeting at 4:40 p.m. Motion passed: ayes – 6, noes – 0, abstain
– 0, absent – 1 (Anderson).
Respectfully submitted,
Amanda Guerrero, Temporary Administrative Technician
City of La Quinta, California