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HomeMy WebLinkAbout08 Minutes - Finance Committee 03/23/2021CITY OF PALM DESERT PALM DESERT FINANCE COMMITTEE MINUTES TUESDAY, MARCH 23, 2021 — 10:00 A.M. (VIRTUAL MEETING) I. CALL TO ORDER Chair Leo called the meeting to order at 10:12 a.m. II. ROLL CALL All present participated in the video conference. Present: Chair Robert Leo Vice -Chair Russell Campbell Member Karen Alexander Member Jan Harnik Member Kathleen Kelly Also Present: CITY COUNCIL ACTION APPROVED DENTED RECEIVED d' 1 I P ( OTHER MEETING DATE LC I 0 " i AYES: NOES: 1\1O ' ABSENT:°h� ABSTAIN: The VERIFIED BY: L E-iS / S r' 5 City Manager Todd Hileman Original on File with City Clerk's Office Director of Finance and City Treasurer Janet Moore Assistant Finance Director Jose Luis Espinoza Deputy City Treasurer Thomas Metz Senior Financial Analyst Anthony Hernandez Recording Secretary Patty Leon General Manager Derek White, Desert Willow Golf Resort III. ORAL COMMUNICATIONS None. IV. APPROVAL OF MINUTES A. Minutes of the January 26, 2021 Palm Desert Finance Committee Meeting Upon a motion duly made by Member Campbell and seconded by Member Alexander, the minutes of the January 26, 2021 Palm Desert Finance Committee Meeting, as presented, were approved by a vote of 5-0 (AYES: Alexander, Campbell, Harnik, Kelly, and Leo; NOES: None). MINUTES PALM DESERT FINANCE COMMITTEE March 23, 2021 V. NEW BUSINESS A. REPORTS ON CITY INVESTMENT SCHEDULE AND SUMMARY OF CASH FOR JANUARY AND FEBRUARY 2021 Mr. Metz provided a brief overview of the January and February 2021 treasurer's reports. Upon a motion duly made by Member Campbell and seconded by Member Alexander, a recommendation that the City Council receive and file the treasurer's reports for January and February 2021, as presented, was approved unanimously (AYES: Alexander, Campbell, Harnik, Kelly, and Leo; NOES: None). B. STATEMENTS FOR LOCAL AGENCY INVESTMENT POOL ACCOUNT FOR JANUARY AND FEBRUARY 2021 (Thomas Metz) Mr. Metz provided a brief overview of the January and February 2021 local agency investment pool reports. Upon a motion duly made by Member Campbell and seconded by Member Alexander, a recommendation that the Finance Committee receive and file the California Asset Management Program, Local Agency Investment Fund, and Riverside County Investment Pool reports for January and February 2021 was approved unanimously (AYES: Alexander, Campbell, Harnik, Kelly, and Leo; NOES: None). C. FINANCIAL REPORTS FOR CITY OF PALM DESERT FOR FEBRUARY 2021 Ms. Moore provided an overview of the City financial report for February. Upon a motion duly made by Member Campbell and seconded by Member Alexander, a recommendation that the Finance Committee receive and file the February 2021 financial report for the City of Palm Desert was approved unanimously (AYES: Alexander, Campbell, Harnik, Kelly, and Leo; NOES: None). 2 G:IFinancelPatty Leon\Finance CommitteelMinutes120211Approved Minutes 032321 p15-25-21.docx MINUTES PALM DESERT FINANCE COMMITTEE March 23, 2021 D. FINANCIAL REPORT FOR PARKVIEW PROFESSIONAL OFFICE BUILDINGS THROUGH FEBRUARY 2021 Mr. Hernandez provided information on the operation of the Parkview Professional Office Buildings for February. Upon a motion duly made by Member Campbell and seconded by Member Alexander, a recommendation that the Finance Committee receive and file the February 2021 financial report for the Parkview Professional Office Buildings was approved unanimously (AYES: Alexander, Campbell, Harnik, Kelly, and Leo; NOES: None). H. FINANCIAL REPORT ON DESERT WILLOW GOLF RESORT THROUGH FEBRUARY 2021 Mr. White discussed the operation and activity at the Desert Willow Golf Resort for February. Upon a motion duly made by Member Campbell and seconded by Member Alexander, a recommendation that the Finance Committee receive and file the February 2021 financial report for Desert Willow Golf Resort was approved unanimously (AYES: Alexander, Campbell, Harnik, Kelly, and Leo; NOES: None). VI. CONTINUED BUSINESS None. VII. OLD BUSINESS None. VIII. INFORMATIONAL ITEMS A. Committee Member Comments Committee members requested an update on CV Link. B. Request to Add Potential Items to Upcoming Agenda Staff to provide updates on CV Link and upcoming Budget discussions with City Council for FY 2021-22. 3 G:IFinancelPatty Leon\Finance CommitteelMinutes120211Approved Minutes 032321 p15-25-21.docx MINUTES PALM DESERT FINANCE COMMITTEE March 23, 2021 IX. ADJOURNMENT There being no further business before the meeting, the same was, on motion duly made, seconded, and carried, adjourned at 10:40 a.m. Patty leave Patty Leon, Recording Secretary 4 G:IFinancelPatty Leon\Finance CommitteelMinutes120211Approved Minutes 032321 pl 5-25-21.docx