HomeMy WebLinkAbout2023-11-28 FC Regular Meeting Minutes
City of Palm Desert Page 1
FINANCE COMMITTEE
CITY OF PALM DESERT, CALIFORNIA
MINUTES
Click HERE to review the meeting audio.
Click HERE to access the meeting agenda packet.
1. CALL TO ORDER
A Regular Meeting of the Finance Committee was called to order by Chair Leo on
Tuesday, September 26, 2023, at 10:00 a.m., in the North Wing Conference Room, City Hall,
located at 73-510 Fred Waring Drive, Palm Desert, California.
2. ROLL CALL
Present: Committee Members Carlos Garcia, Gretchen Heuring, Kathleen Kelly, Faith
Messenger, Karina Quintanilla, Jake Wuest and Chair Robert Leo.
Absent: None.
Liaisons: Derek White and Anthony Hernandez of Desert Willow Golf Resort.
City Staff
Present: Veronica Chavez, Director of Finance; John Ramont, Deputy Director of Finance;
and Michelle Nance, Recording Secretary.
3. NON-AGENDA PUBLIC COMMENT:
None.
4. CONSENT CALENDAR:
A. APPROVAL OF MINUTES
MOTION BY COMMITTEE MEMBER GARCIA, SECOND BY COMMITTEE MEMBER
MESSENGER, CARRIED 7-0, to approve the Finance Committee Regular Meeting
minutes of September 26, 2023.
Tuesday
November 28, 2023
10:00 a.m.
Regular Meeting
DocuSign Envelope ID: 1B35FA9D-4765-4FB2-B366-9BDFA76C8145
Finance Committee Minutes November 28, 2023
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ALL ACTIONS ARE DRAFT, PENDING APPROVAL OF THE MINUTES
5. ACTION CALENDAR
A. FINANCE DIRECTOR’S REPORTS
Finance Director Chavez presented the General Fund Financial Report for months ending
September 30, 2023, and October 31, 2023, and responded to Committee Member
inquiries.
MOTION BY COMMITTEE MEMBER WUEST, SECOND BY COMMITTEE MEMBER
MESSENGER, CARRIED 7-0, to receive and file the General Fund Financial Report for
months ending September 30, 2023, and October 31, 2023.
B. PARKVIEW OFFICE COMPLEX FINANCIAL REPORTS
Finance Deputy Director Ramont presented the Parkview Office Complex Financial
Report for months ending September 30, 2023, and October 31, 2023; and the Parkview
Office Complex Vacancy Report for the month ending October 31, 2023, and responded
to Committee Member inquiries.
MOTION BY COMMITTEE MEMBER QUINTANILLA, SECOND BY COMMITTEE
MEMBER GARCIA, CARRIED 7-0, to receive and file the Parkview Office Complex
Financial Report for months ending September 30, 2023, and October 31, 2023; and the
Parkview Office Complex Vacancy Report for the month ending October 31, 2023.
C. DESERT WILLOW GOLF RESORT FINANCIAL REPORTS
Desert Willow Golf Resort General Manager White presented the Desert Willow Golf
Resort Financial Reports for months ending September 30, 2023, and October 31, 2023,
and responded to Committee Member inquiries.
MOTION BY COMMITTEE MEMBER KELLY, SECOND BY COMMITTEE MEMBER
GARCIA, CARRIED 7-0, to receive and file the Desert Willow Financial Report for months
ending September 30, 2023, and October 31, 2023.
D. CITY TREASURER’S INVESTMENT REPORTS
Finance Director Chavez presented the City Treasurer’s Reports for months ending
September 30, 2023, and October 31, 2023, and responded to Committee Member
inquiries.
MOTION BY COMMITTEE MEMBER GARCIA, SECOND BY COMMITTEE MEMBER
WUEST, CARRIED 7-0, to receive and file the City Treasurer’s Investment Report for
months ending September 30, 2023, and October 31, 2023.
DocuSign Envelope ID: 1B35FA9D-4765-4FB2-B366-9BDFA76C8145
Finance Committee Minutes November 28, 2023
City of Palm Desert Page 3
ALL ACTIONS ARE DRAFT, PENDING APPROVAL OF THE MINUTES
E. RESOLUTIONS APPROVING THE PALM DESERT “STATEMENT OF INVESTMENT
POLICY”, AS AMENDED
Finance Director Chavez, Sarah Meacham and Richard Babbe from PFM presented the
Resolutions approving the Palm Desert “Statement of Investment Policy” as amended
and responded to Committee Member inquiries.
MOTION BY COMMITTEE MEMBER MESSENGER, SECOND BY COMMITTEE
MEMBER HUERING, CARRIED 7-0, to recommend that the City Council adopt City,
Successor Agency, Financing Authority, and Housing Authority Resolutions approving the
City of Palm Desert Investment Policy (FIN-002), as amended.
6. INFORMATIONAL REPORTS & COMMENTS
A. FINANCE COMMITTEE MEMBERS
In response to inquiries, Mayor Kelly provided an update on the City Council’s recent
Study Session regarding power poles and ongoing rail feasibility studies.
Committee Member Wuest commented on budgeting in relation to interest rates for 2024.
B. CITY STAFF
Finance Deputy Director Ramont provided an update on Audit Services RFP process.
C. ATTENDANCE REPORT – Report was provided as supplemental material; no action
taken on this item.
7. ADJOURNMENT
The Finance Committee adjourned at 10:56 a.m.
Respectfully submitted,
Michelle Nance, Deputy Clerk I
Recording Secretary
ATTEST:
Veronica Chavez, Director of Finance
Staff Liaison
APPROVED BY THE FINANCE COMMITTEE: 1/22/2024
DocuSign Envelope ID: 1B35FA9D-4765-4FB2-B366-9BDFA76C8145