2025 11 05 FAC Minutes Special MeetingFINANCIAL ADVISORY COMMISSION Page 1 of 3 NOVEMBER 5, 2025
SPECIAL MEETING – MINUTES
FINANCIAL ADVISORY COMMISSION
SPECIAL MEETING
MINUTES
WEDNESDAY, NOVEMBER 5, 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, Kiehl, Lee, Mast, Niblo, Way and Chair Dorsey
ABSENT: None
PLEDGE OF ALLEGIANCE
Commissioner Way 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
SEPTEMBER 11, 2025
2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
APRIL 30, 2025
3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
JULY 31, 2025
4. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED
AUGUST 31, 2025
MOTION – A motion was made and seconded by Commissioners Way/Anderson to
approve the Consent Calendar as presented. Motion passed unanimously.
BUSINESS SESSION
1. APPOINT MEMBERS OF THE FINANCIAL ADVISORY COMMISSION TO
SERVE AS CHAIRPERSON AND VICE CHAIRPERSON FOR FISCAL YEAR
2025/26
FINANCIAL ADVISORY COMMISSION Page 2 of 3 NOVEMBER 5, 2025
SPECIAL MEETING – MINUTES
Principal Management Analyst Hallick presented the staff report, which is on file with the
Finance Department.
Commissioners discussed their individual willingness and availability to serve in either
capacity; the importance of providing Commissioners with the opportunity to serve in
leadership positions; and their respective appointments term expirations. Commissioner
Way, Vice Chair Anderson, and Chair Dorsey expressed willingness to serve as
Chairperson or Vice Chairperson. The Commission reached a consensus to appoint
Commissioner Way and Vice Chair Anderson to serve as Chairperson and Vice
Chairperson, respectively.
MOTION – A motion was made and seconded by Commissioners Kiehl/Lee to appoint
Commissioner Way to serve as Chairperson for fiscal year 2025/26. Motion passed
unanimously.
MOTION – A motion was made and seconded by Commissioners Kiehl/Dorsey to re-
appoint Vice Chairperson Anderson to serve as Vice Chairperson for fiscal year 2025/26.
Motion passed unanimously.
OUTGOING CHAIRPERSON DORSEY TURNED OVER PRESIDING OFFICER
DUTIES TO NEWLY APPOINTMENT CHAIRPERSON WAY FOR THE
REMAINDER OF THE MEETING
STUDY SESSION – None
DEPARTMENTAL REPORTS
1.FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES
Staff provided updates on current and upcoming Finance Department initiatives, noting
preparations for the Annual Comprehensive Financial Report (ACFR) for fiscal year (FY)
2024/25, and currently ongoing Measure A Local Streets and Road Audit for FY 2024/25
are in progress; the Measure G Sales Tax Oversight Compliance Subcommittee
Compliance Report is scheduled to be presented at the December Commission meeting;
the upcoming California Society of Municipal Finance Officers (CSMFO) Annual
Conference will be held at the Palm Springs Convention Center; Finance Director
Martinez and Principal Management Analyst Hallick will serve as presenters at CSMFO.
Staff encouraged Commissioners’ participation at the CSMFO conference which could
feature topics such as fraud control, cyber security, accounts payable, payroll, pension
liability and investment management.
Staff noted major Citywide updates, including the ongoing bankruptcy proceedings for the
SilverRock (formerly Talus) project, continued work on the Highway 111 Corridor Specific
Plan, and the Federal Emergency Management Assistance funding related to expenses
incurred due to tropical storm Hilary were being finalized. The Commission expressed
interest in receiving a detailed update from the Planning Department and recognized
FINANCIAL ADVISORY COMMISSION Page 3 of 3 NOVEMBER 5, 2025
SPECIAL MEETING – MINUTES
successful completion of the roadway and landscaping improvements along
Highway 111.
Staff provided reminders regarding upcoming City events, including the Veterans
Recognition Ceremony and the La Quinta Arts Celebration.
2. SALES TAX UPDATE – SECOND QUARTER 2025 (APRIL - JUNE)
Staff provided an update on second quarter 2025 sales tax and Measure G revenues,
noting continued growth across major industries, and identifying new and one-time
vendors featured among the City’s top 25 revenue-generating businesses and increased
county pool revenue. The Commission discussed current economic trends and consumer
spending patterns.
The Commission commended staff for the timely completion of the City’s FY 2024/25
Comprehensive Audit; noting the Finance team successfully coordinated virtually with the
City’s firm Lance Soll & Lunghard, LLP (LSL), and that the audit partner was onsite in
person for one day during the audit.
COMMISSIONERS’ ITEMS
Commissioner Anderson provided observations regarding interest allocation trends and
gas tax revenues. Staff reported that market conditions will continue to be closely
monitored following the Federal Reserve’s October rate cut, but see no changes in the
overall approach to the City’s investment portfolio.
The Commission discussed travel trends, anticipated impacts of seasonal tourism across
the Coachella Valley, upcoming CSFMO conference sessions and expressed
appreciation to outgoing Chair Dorsey for his leadership over the past year.
ADJOURNMENT
There being no further business, it was moved and seconded by Commissioners
Dorsey/Kiehl to adjourn this meeting at 4:21 p.m. Motion passed unanimously.
Respectfully submitted,
Amanda Guerrero, Commission Secretary
City of La Quinta, California