2025 09 11 FAC Special MeetingFINANCIAL ADVISORY COMMISSION Page 1 of 3 SEPTEMBER 11, 2025
SPECIAL MEETING – MINUTES
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING
MINUTES
THURSDAY, SEPTEMBER 11, 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 Vice Chair Anderson.
PRESENT: Commissioners Kiehl, Lee, Niblo, and Vice Chair Anderson
ABSENT: Commissioners Mast, Way, and Chair Dorsey
PLEDGE OF ALLEGIANCE
Commissioner Kiehl led the audience in the Pledge of Allegiance.
Finance Director Martinez asked for a moment of silence in memory and honor of former
Commissioner Richard “Dick” Mills, and highlighted Mr. Mills’ many contributions to the
City, and dedicated public service to the La Quinta community.
PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None
CONFIRMATION OF AGENDA
Finance Director Martinez requested Business Session Item No. 1 be pulled from the
agenda due to the absence of several Commissioners, and noted the item will be
rescheduled for consideration at the November 5, 2025, special meeting. The
Commission concurred.
ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS
1. INTRODUCE NEWLY APPOINTED COMMISSIONER PHILLIP NIBLO
Vice Chair Anderson introduced newly appointed Commissioner Phillip Niblo, who
provided a brief history of his background, experience and qualifications. The
Commissioners each provided brief overviews of their professional backgrounds and
welcomed Commissioner Niblo.
CONSENT CALENDAR ITEMS
1. RECEIVE AND FILE SPECIAL MEETING MINUTES DATED JUNE 4, 2025
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED MAY
31, 2025
FINANCIAL ADVISORY COMMISSION Page 2 of 3 SEPTEMBER 11, 2025
SPECIAL MEETING – MINUTES
MOTION – A motion was made and seconded by Commissioners Kiehl/Lee to approve
the Consent Calendar as presented. Motion passed: ayes – 4, noes – 0, abstain – 0,
absent – 3 (Dorsey, Mast, and Way).
BUSINESS SESSION
1.Pulled from the Agenda by staff as noted during Confirmation of Agenda >>>
APPOINT MEMBERS OF THE FINANCIAL ADVISORY COMMISSION TO
SERVE AS CHAIRPERSON AND VICE CHAIRPERSON FOR FISCAL YEAR
2025/26
2.APPOINT MEMBERS OF THE FINANCIAL ADVISORY COMMISSION TO
SERVE ON THE MEASURE G SALES TAX OVERSIGHT COMPLIANCE
SUBCOMMITTEE (SUBCOMMITTEE) TO AUDIT AND FORMULATE THE
ANNUAL MEASURE G SALES TAX OVERSIGHT COMPLIANCE REPORT FOR
FISCAL YEAR 2024/25
Finance Director Martinez presented the staff report, which is on file in the Finance
Department, and noted that Commissioners Dorsey and Mast requested consideration
for appointment to the subcommittee.
The Commission discussed appointing three members to the subcommittee and reached
a consensus to appoint Vice Chair Anderson, Chair Dorsey, and Commissioner Mast.
MOTION – A motion was made and seconded by Commissioners Lee/Kiehl to appoint
Vice Chair Anderson, Chair Dorsey, and Commissioner Mast to serve on the Measure G
Sales Tax Oversight Compliance Subcommittee to audit and formulate the annual
Measure G Sales Tax Oversight Compliance Report for Fiscal Year 2024/25. Motion
passed: ayes – 4, noes – 0, abstain – 0, absent – 3 (Dorsey, Mast, and Way).
3. RECEIVE AND FILE FOURTH QUARTER FISCAL YEAR 2024/25 TREASURY
REPORTS FOR APRIL, MAY, AND JUNE 2025
Principal Management Analyst Hallick presented the staff report, which is on file in the
Finance Department.
The Commission discussed the California Asset Management Program (CAMP) Board of
Trustees oversight and fund safety; conservative investment strategies used in the Public
Agency Retirement Services (PARS) Trust and Other Post-Employment Benefits (OPEB)
Money Market Accounts Trusts; the potential to evaluate alternative trust providers to
compare fees and returns; and possibly reducing or reallocating trust balances to improve
future earnings.
MOTION – A motion was made and seconded by Commissioners Kiehl/Niblo to receive
and file the fourth quarter fiscal year 2024/25 treasury reports for April, May, and June
FINANCIAL ADVISORY COMMISSION Page 3 of 3 SEPTEMBER 11, 2025
SPECIAL MEETING – MINUTES
2025, as presented. Motion passed: ayes – 4, noes – 0, abstain – 0, absent – 3 (Dorsey,
Mast, and Way).
STUDY SESSION – None
DEPARTMENTAL REPORTS
1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Finance Director Martinez provided updates on current and upcoming Finance
Department initiatives, noting the City’s comprehensive audit for fiscal year (FY) 2024/25
will be conducted from September 15 through October 2, 2025; the Street and Road
Improvement Audit and Measure A Local Streets and Road Audit for FY 2024/25 will take
place in November 2025; the Financial Projections Task Force is updating FY 2025/26
budget data in the City’s financial forecasting software, TrueComp (formerly GovInvest);
and staff is exploring training opportunities with the City’s auditing firm, Lance Soll &
Lunghard, LLP (LSL).
Staff highlighted major City projects, including the Highway 111 Corridor Specific Plan,
and potential Imperial Irrigation District (IID) substation upgrades, noting that cost and
revenue updates will be provided to the Commission when available.
2. FIRST QUARTER 2025 (JANUARY – MARCH) SALES TAX UPDATE
Staff provided an update on first quarter 2025 sales tax and Measure G revenues,
including major industry group performance, top 25 revenue-generating businesses, and
explained the difference between sales tax and Measure G allocations. The Commission
commended the City for effective public communication and minimizing business impacts
during construction of the Highway 111 pavement rehabilitation project.
COMMISSIONERS’ ITEMS
Commissioner Kiehl suggested the City possibly review its term limit restrictions to ensure
retention of experienced and qualified members on City Boards and Commissions, and
avoid multiple concurrent term expirations.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Kiehl/Lee to adjourn this meeting at 4:40 p.m., in honor of former Commissioner Mills.
Motion passed: ayes – 4, noes – 0, abstain – 0, absent – 3 (Dorsey, Mast, and Way).
Respectfully submitted,
Amanda Guerrero, Commission Secretary
City of La Quinta, California