2025 05 07 FAC MinutesFINANCIAL ADVISORY COMMISSION Page 1 of 3 MAY 7, 2025
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FINANCIAL ADVISORY COMMISSION
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WEDNESDAY, MAY 7, 2025
CALL TO ORDER
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 (joined the meeting at 3:52 p.m.),
Lee, Way and Chair Dorsey
ABSENT: Commissioner Mast
PLEDGE OF ALLEGIANCE
Commissioner Lee 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 REVENUE AND EXPENDITURE REPORT DATED
JANUARY 31, 2025
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
FEBRUARY 28, 2025
MOTION – A motion was made and seconded by Commissioners Batavick/Anderson to
approve the Consent Calendar as presented. Motion passed: ayes – 5, noes – 0, abstain
– 0, absent – 2 (Kiehl and Mast).
BUSINESS SESSION
1. APPROVE FISCAL YEAR 2025/26 MEETING SCHEDULE
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
The Commission discussed rescheduling the September 3, 2025, regular meeting to
September 11, 2025, special meeting due to scheduling conflicts.
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MOTION – A motion was made and seconded by Commissioners Way/Lee to approve
the amended fiscal year 2025/26 Commission meeting schedule. Motion passed:
ayes – 5, noes – 0, abstain – 0, absent – 2 (Kiehl and Mast).
STUDY SESSION
1. DISCUSS FISCAL YEAR 2025/26 INVESTMENT POLICY
Principal Management Analyst Hallick presented the staff report, which is on file in the
Finance Department.
The Commission discussed the City’s investments rating category of “AA” or better which
is more restrictive than the State to better mitigate risk; and to correct minor formatting
inconsistencies in Appendix C.
The Commission expressed general support for the minor updates and revisions clarifying
the Investment Policy.
COMMISSIONER KIEHL JOINED THE MEETING AT 3:52 P.M.
2. DISCUSS FISCAL YEAR 2025/26 PRELIMINARY PROPOSED BUDGET
Finance Director Martinez presented the staff report, which is on file in the Finance
Department.
The Commission discussed investment interest earnings; key revenue categories;
correcting the FY 2025/26 budget summary label on page 53; Measure G contributions;
the comprehensive study of the Master Fee Schedule; expanded Wellness Center
operations; federal funding; public safety costs, staffing, service models, and camera
system benefits; potential power infrastructure improvement costs; rising insurance
premiums; temporary staffing and medical expenses; use of Measure G reserves; the
City’s Recognized Obligation Payment Schedule (ROPS) repayment timeline and future
reallocation of Redevelopment Property Tax Trust Fund (RPTTF) fund once all
redevelopment agencies debt is paid off.
The Commission commended staff for prudent and conservative budget management.
The Commission expressed general support for the FY 2025/26 proposed budget as
presented.
DEPARTMENTAL REPORTS
1.FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Staff provided updates on current and upcoming Finance Department projects including
the ongoing audit for FY 2023/24 Annual Comprehensive Financial Report which is in
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final stages of completion; scheduling additional meetings for the Financial Projections
Task Force; upcoming Boards and Commissions vacancies; and Highway 111 Corridor
Specific Plan project expenditures.
The Commission discussed the timeline and scheduling for the upcoming Highway 111
pavement improvements; the ribbon cutting unveiling the new Dune Palms Road Bridge;
anticipated Imperial Irrigation District (IID) substation infrastructure improvements costs
and options; and the newly formed Coachella Valley Powers Agency, an independent
public agency for Riverside County and the Coachella Valley giving stakeholders the
authority to address electrical infrastructure needs and services.
2. FOURTH QUARTER 2024 (OCTOBER-DECEMBER) SALES TAX UPDATE
Staff provided a general overview of the fourth quarter sales tax update.
The Commission discussed commercial vacancies rate in La Quinta is 5% compared to
12% average valley-wide; and potential impacts of the Highway 111 Corridor project on
local businesses and sales tax performance.
COMMISSIONERS’ ITEMS
Commissioner Kiehl commended Commissioner Way for her presentation at the 2025
State of the Fourth District Coachella Valley Economic Update held By Riverside County
Supervisor Perez on April 17, 2025, at the Fantasy Springs Resort Casino in Indio.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Way/Kiehl to adjourn this meeting at 5:23 p.m. Motion passed: ayes – 6, noes – 0, abstain
– 0, absent – 1 (Mast).
Respectfully submitted,
Amanda Guerrero, Commission Secretary
City of La Quinta, California