HomeMy WebLinkAboutFC_2017-5-03_Agenda Packet
FINANCE COMMITTEE
AGENDA
Wednesday, May 3, 2017
4:00 p.m.
Atascadero City Hall – Conference Room 106
6500 Palma Avenue, Atascadero, California
In compliance with the Americans with Disabilities Act, if you require special assistance to participate in this
meeting, please contact the City Clerk's Office, (805) 470-3400, at least 48 hours prior to the start of the
meeting to enable the City to make reasonable arrangements. Thank you.
CALL TO ORDER / ROLL CALL:
A. CONSENT CALENDAR: At this time members of the public may address the
Committee regarding any items within the subject matter jurisdiction of the
Committee whether or not the item appears on the agenda. Individual audience
participation is limited to three minutes per speaker. Please state your name for the
record before making your presentation. Following Public Comment, the floor will be
closed to public participation and open for business.
1. Finance Committee Draft Action Minutes – April 13, 2017
Recommendation: Committee approve the Draft Action Minutes of the
April 13, 2017 Finance Committee Meeting. [City Clerk]
B. BUSINESS: This portion of the agenda is for all matters where staff and public
participation is anticipated. Individual audience participation is limited to three
minutes per speaker. Please state your name for the record before making your
presentation.
1. Investment Policy
Recommendation: Committee discuss the merits of Supranational
Securities and direct staff to take to the City Council for consideration an
amendment to the investment policy allowing investment in Supranational
Securities. [City Treasurer]
2. Review of the Budget
C. INDIVIDUAL DETERMINATIONS:
1. Chair
2. Vice Chair
3. Treasurer
4. City Staff
D. ADJOURN:
Page 1 of 11
ITEM NUMBER: A-1
DATE: 05/03/17
Finance Committee Meeting Minutes
April 13, 2017
Page 1 of 2
FINANCE COMMITTEE
DRAFT MINUTES
Thursday, April 13, 2017
4:30 p.m.
Atascadero City Hall – Conference Room 106
6500 Palma Avenue, Atascadero, California
CALL TO ORDER:
Chair Moreno called the meeting to order at 4:30 p.m.
PRESENT: COMMITTEE MEMBERS: Heather Moreno, Chair
Charles Bourbeau, Vice Chair
Gere Sibbach
Rachelle Rickard
Jeri Rangel
ABSENT: COMMITTEE MEMBERS: None
ALSO PRESENT: Lara Christensen, Deputy City Manager / City Clerk
Cindy Chavez, Deputy Administrative Services Director
PUBLIC COMMENT: None
BUSINESS:
1. Review Community Facility District Fees
Administrative Services Director Rangel gave a brief background on Community Facilities
District fees in the City and answered questions from the Committee. Adina McCargo,
NBS, and City Manager Rachelle Rickard also answered questions from the Committee.
Public Comment: The following persons spoke during Public Comment: Sheila Henley
(Exhibit B) and Kathleen Sherman.
Chair Moreno closed the Public Comment period.
Motion: By Member Sibbach and seconded by Vice Chair Bourbeau to accept
staff’s recommendation for amending the calculation of the annual levy
increase for Community Facility District 2005-1 and direct staff to take
before the City Council for consideration. The recommendation is to
calculate the annual increase as follows:
Step 1: Determine the increase as outlined in the District formation
documents (The greater of five percent (5%) or the annual
percentage change in the Consumer Price Index (CPI) of “All
Urban Consumers” for the San Francisco-Oakland-San Jose
area)
Step 2: Calculate the year over year percentage change in the cost
of a C Step officer, family medical, with Tier 3 PERS.
Page 2 of 11
ITEM NUMBER: A-1
DATE: 05/03/17
Finance Committee Meeting Minutes
April 13, 2017
Page 2 of 2
Step 3: Take the lesser of the results from Step 1 or Step 2.
Motion passed 5:0 by a roll-call vote.
2. Review of the Budget
Administrative Services Director Rangel gave a brief overview on Debt Service Funds in
the City (Exhibit A). She and City Manager Rickard answered questions from the
Committee.
Public Comment: None
INDIVIDUAL DETERMINATIONS:
1. Chair
2. Vice Chair
3. Treasurer
a) Investment Policy
City Treasurer Sibbach briefly described the City’s Investment Policy. He reported
that an investment opportunity, called supranationals, is available to the City.
Treasurer Sibbach noted that he would bring back additional information on
supranationals and request formal recommendation from the Committee regarding
a change to the City’s Investment Policy.
4. City Staff
a) Meeting Schedule
Administrative Services Director Rangel noted that additional meetings of the
Committee were necessary to continue review of the City’s Budget. The following
meeting schedule was established:
Wednesday, May 3, 2017 – 4:00 p.m.
Wednesday, May 10, 2017 – 4:00 p.m.
Wednesday, May 31, 2017 – 3:30 p.m.
Wednesday, June 7, 2017 – 3:30 p.m.
ADJOURN:
Chair Moreno adjourned the meeting at 6:11 p.m.
MINUTES PREPARED BY:
_________________________________
Lara K. Christensen
Deputy City Manager / City Clerk
The following exhibits are available for review in the City Clerk’s office:
Exhibit A – Email regarding Community Facilities District Fees from Barry Ephraim
Exhibit B – Letters from Vicki Fogelman and Sheila Henley read into the record by Sheila Henley
Exhibit C – Debt Service Fund handouts presented by Administrative Services Director Rangel
Page 3 of 11
Page 4 of 11
Page 5 of 11
Page 6 of 11
Page 7 of 11
Page 8 of 11
Page 9 of 11
Page 10 of 11
Page 11 of 11