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HomeMy WebLinkAbout2021-09-28 FC Regular Meeting Minutes I. CALL TO ORDER Chair Leo called the meeting to order at 10:00 a.m. II. ROLL CALL All present participated in the video conference. Present: Chair Robert Leo Member Karen Alexander Member Carlos Garcia Member Jan Harnik Member Kathleen Kelly Member Faith Messenger Also Present: City Manager Todd Hileman 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 Controller Jared Burns, Desert Willow Golf Resort III. ORAL COMMUNICATIONS None. IV. APPROVAL OF MINUTES A. Minutes of the May 25th, 2021, Palm Desert Finance Committee Meeting Upon a motion duly made by Member Kelly and seconded by Member Alexander, the minutes of the May 25th, 2021 Palm Desert Finance Committee Meeting, as presented, were approved by a vote of 6-0 (AYES: Alexander, Garcia, Harnik, Kelly, Messenger and Leo; NOES: None). CITY OF PALM DESERT PALM DESERT FINANCE COMMITTEE PRELIMINARY MINUTES TUESDAY, September 28, 2021 – 10:00 A.M. (VIRTUAL MEETING) PRELIMINARY MINUTES PALM DESERT FINANCE COMMITTEE September 28, 2021 G:\Finance\Patty Leon\Finance Committee\Minutes\2021\09-28-21 Finance Committee Preliminary Minutes.docx 2 V. NEW BUSINESS A. REPORTS ON CITY INVESTMENT SCHEDULE AND SUMMARY OF CASH FOR MAY, JUNE, JULY AND AUGUST 2021 Mr. Metz provided a brief overview of the 2021 treasurer’s reports. Upon a motion duly made by Member Kelly and seconded by Member Alexander, a recommendation that the City Council receive and file the treasurer’s reports for May, June, July, and August 2021, as presented, was approved unanimously (AYES: Alexander, Garcia, Harnik, Kelly, Messenger, and Leo; NOES: None). B. STATEMENTS FOR LOCAL AGENCY INVESTMENT POOL ACCOUNT FOR MAY, JUNE, JULY, AND AUGUST 2021 Mr. Metz provided a brief overview of the May, June, July and August 2021 local agency investment pool reports. Upon a motion duly made by Member Alexander and seconded by Member Kelly, a recommendation that the Finance Committee receive and file the California Asset Management Program (CAMP), Local Agency Investment Fund (LAIF), and Riverside County Investment Pool reports for May, June, July, and August 2021 was approved unanimously (AYES: Alexander, Garcia, Harnik, Kelly, Messenger, and Leo; NOES: None). To gain a better understanding of CAMP and LAIF, member Harnik suggested the Committee receive an in-depth report at the next meeting. C. FINANCIAL REPORTS FOR CITY OF PALM DESERT FOR AUGUST 2021 Mrs. Moore provided an overview of the City financial report for August 2021. Upon a motion duly made by Member Harnik and seconded by Member Kelly, a recommendation that the Finance Committee receive and file the August 2021 financial report for the City of Palm Desert was approved unanimously (AYES: Alexander, Garcia, Harnik, Kelly, Messenger, and Leo; NOES: None). PRELIMINARY MINUTES PALM DESERT FINANCE COMMITTEE September 28, 2021 G:\Finance\Patty Leon\Finance Committee\Minutes\2021\09-28-21 Finance Committee Preliminary Minutes.docx 3 D. FINANCIAL REPORT FOR PARKVIEW PROFESSIONAL OFFICE BUILDINGS THROUGH AUGUST 2021 Mr. Hernandez provided information on the operation of the Parkview Professional Office Buildings for August. Upon a motion duly made by Member Kelly and seconded by Member Harnik, a recommendation that the Finance Committee receive and file the August 2021 financial report for the Parkview Professional Office Buildings was approved unanimously (AYES: Alexander, Garcia, Harnik, Kelly, Messenger, and Leo; NOES: None). H. FINANCIAL REPORT ON DESERT WILLOW GOLF RESORT THROUGH AUGUST 2021 Mr. White discussed the operation and activity at the Desert Willow Golf Resort for August. Upon a motion duly made by Member Kelly and seconded by Member Harnik, a recommendation that the Finance Committee receive and file the August 2021 financial report for Desert Willow Golf Resort was approved unanimously (AYES: Alexander, Garcia, Harnik, Kelly, Messenger, and Leo; NOES: None). VI. CONTINUED BUSINESS None. VII. OLD BUSINESS None. VIII. INFORMATIONAL ITEMS A. Committee Member Comments Committee members mentioned that sharing of screen on Zoom to discuss reports was helpful. B. Request to Add Potential Items to Upcoming Agenda Staff to provide updates on Aquatic Center and CV Link. PRELIMINARY MINUTES PALM DESERT FINANCE COMMITTEE September 28, 2021 G:\Finance\Patty Leon\Finance Committee\Minutes\2021\09-28-21 Finance Committee Preliminary Minutes.docx 4 IX. ADJOURNMENT There being no further business before the meeting, the same was, on motion duly made, seconded, and carried, adjourned at 11:06 a.m. Patty leon Patty Leon, Recording Secretary