2017 11 15 FAC MinutesFINANCIAL ADVISORY COMMISSION
MINUTES
WEDNESDAY. NOVEMBER 15. 2017
CALL TO ORDER
A regular meeting of the La Quinta Financial Advisory Commission was called to order
at 4:00 p.m. by Chairperson Batavick.
PRESENT: Commissioners Johnson, Lopez, Mills, Rosen, Turbow, Twohey, and
Chairperson Batavick
ABSENT: None
PLEDGE OF ALLEGIANCE
Commissioner Johnson 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
Finance Director Campos announced the available tours of the City's facilities; and
said staff will present an update on surveillance items at a future meeting.
CONSENT CALENDAR ITEMS
1. APPROVE FINANCIAL ADVISORY COMMISSION MINUTES OF AUGUST 9, 2017
2. RECEIVE AND FILE THE 1ST QUARTER FISCAL YEAR 2017/18 TREASURY
REPORTS FOR JULY, AUGUST, AND SEPTEMBER, 2017
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED JUNE, 2017
4. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED JULY AND
AUGUST, 2017
5. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED
SEPTEMBER, 2017
Motion - A motion was made and seconded by Commissioners Lopez/Mills to approve
the Consent Calendar as submitted. Motion passed unanimously.
FINANCIAL ADVISORY COMMISSION MINUTES 1 NOVEMBER 15, 2017
BUSINESS SESSION
1. APPOINT THE CHAIRPERSON AND TWO COMMISSIONERS TO FORMULATE THE
ANNUAL MEASURE G SALES TAX OVERSIGHT COMPLIANCE REPORT
Finance Director Campos presented the staff report, which is on file in the Finance
Department. She requested that Chairperson Batavick and two Commissioners work
with her to formulate the annual Measure G sales tax oversight compliance report.
Commissioners Mills, Lopez, and Chairperson Batavick expressed their willingness to
participate.
Motion - A motion was made and seconded by Commissioners Turbow/Johnson to
appoint Commissioners Mills, Lopez, and Chairperson Batavick to serve on the
committee. Motion passed unanimously.
STUDY SESSION
1. DISCUSS RESERVE ANALYSIS REPORT AND FINDINGS
Finance Director Campos and Financial Services Analyst Hallick presented the staff
report, which is on file in the Finance Department.
The Commission discussed staff's recommendations and conclusion of findings;
reserve analysis overview of current reserve categories and funding; revenue and
expenditure volatility; growth projections; mitigation risks and insurance policies; and
how La Quinta compares to other cities.
2. DISCUSS BUDGET vs ACTUAL REVENUE AND EXPENSES REPORT OPTIONS
Finance Director Campos presented the staff report, which is on file in the Finance
Department.
Staff provided the Commission with the City's year end budget report and discussed
the format of future quarterly budget reports.
DEPARTMENTAL REPORTS
All reports are on file in the Finance Department.
1. SECOND QUARTER SALES TAX UPDATE FOR THE CITY OF LA QUINTA
CORRESPONDENCE AND WRITTEN MATERIAL - None
COMMISSIONERS' ITEMS - None
FINANCIAL ADVISORY COMMISSION MINUTES 2 NOVEMBER 15, 2017
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Turbow/Johnson to adjourn this meeting at 6:00 p.m. Motion passed unanimously.
Respectfully submitted,
Jessica Delgado, Management Assistant
City of La Quinta, California
FINANCIAL ADVISORY COMMISSION MINUTES 3 NOVEMBER 15, 2017