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HomeMy WebLinkAbout2025-04-22 FC Regular Meeting MinutesFINANCE COMMITTEE CITY OF PALM DESERT REGULAR MEETING MINUTES , and Chair Robert Accounting Manager Austin Yaple, Finance and Recording Secretary Monique 1. CALL TO ORDER A Regular Meeting of the Finance Committee was called to order by Chair Leo on Tuesday, April 22, 2025, at 10:00 a.m. in the Administrative Conference Room, City Hall, located at 73-510 Fred Waring Drive, Palm Desert, California. 2. ROLL CALL 3. NON­AGENDA PUBLIC COMMENTS None. 4. CONSENT CALENDAR Motion by: Committee Member Harnik Seconded by: Committee Member Garcia To approve the consent calendar as presented. Motion Carried (6 to 0) 4.a APPROVAL OF MINUTES Motion by: Committee Member Harnik Seconded by: Committee Member Garcia Approve the Minutes of January 28, 2025. Motion Carried (6 to 0) Docusign Envelope ID: 93A7F23E-195B-4A23-93DC-DA299F834EBA Finance Committee Regular Meeting Minutes April 22, 2025 2 4.b APPROVE FY 2025­26 FINANCE COMMITTEE WORK PLAN Motion by: Committee Member Harnik Seconded by: Committee Member Garcia Approve the FY 2025-26 Finance Committee Work Plan. Motion Carried (6 to 0) 4.c RECEIVE AND FILE THE CITY OF PALM DESERT SINGLE AUDIT REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2024 Motion by: Committee Member Harnik Seconded by: Committee Member Garcia Receive and file the Single Audit Report for the fiscal year ended June 30, 2024. Motion Carried (6 to 0) 4.d PALM DESERT RECREATIONAL FACILITIES CORPORATION AUDITED FINANCIAL REPORTS FOR THE FISCAL YEAR ENDED JUNE 30, 2024 Motion by: Committee Member Harnik Seconded by: Committee Member Garcia Receive and file the Palm Desert Recreational Facilities Corporation’s Annual Financial Report for the fiscal year ended June 30, 2024. Motion Carried (6 to 0) 4.e 4TH QUARTER 2024 ­ SALES TAX UPDATE Motion by: Committee Member Harnik Seconded by: Committee Member Garcia Receive and file the 4th Quarter 2024 Sales Tax update. Motion Carried (6 to 0) 5. CONSENT ITEMS HELD OVER None. Docusign Envelope ID: 93A7F23E-195B-4A23-93DC-DA299F834EBA Finance Committee Regular Meeting Minutes April 22, 2025 3 6. BUSINESS ITEMS 6.a FINANCE DIRECTOR'S REPORT FOR GENERAL FUND FINANCIAL REPORTS Director of Finance Veronica Chavez presented a staff report and responded to Committee Member inquiries. Motion by: Committee Member Garcia Seconded by: Committee Member Heuring Receive and file the General Fund Financial Reports for the months ending January 31, 2025, through March 31, 2025. Motion Carried (6 to 0) 6.b PARKVIEW OFFICE COMPLEX FINANCIAL AND VACANCY REPORTS Accounting Manager Yaple presented a staff report and responded to Committee Member inquiries. Motion by: Committee Member Harnik Seconded by: Committee Member Trubee Receive and file the Parkview Office Complex Financial Reports and Vacancy Report for the months ending January 31, 2025, through March 31, 2025. Motion Carried (6 to 0) 6.c DESERT WILLOW GOLF RESORT FINANCIAL REPORTS Desert Willow Golf Resort General Manager Derek White provided a staff report and responded to Committee Member inquiries. Motion by: Committee Member Harnik Seconded by: Committee Member Garcia Receive and file the Desert Willow Golf Resort Financial Reports for the months ending January 31, 2025, through March 31, 2025. Motion Carried (6 to 0) Docusign Envelope ID: 93A7F23E-195B-4A23-93DC-DA299F834EBA Finance Committee Regular Meeting Minutes April 22, 2025 4 6.d CITY TREASURER’S INVESTMENT REPORT Finance Supervisor James Bounds provided a staff report and responded to Committee Member inquiries. Motion by: Committee Member Garcia Seconded by: Committee Member McCauley Receive and file the City Treasurer’s Investment Report for the months ending January 31, 2025, through March 31, 2025. Motion Carried (6 to 0) 6.e DISCUSSION AND APPROVAL OF THE FINANCE COMMITTEE’S REGULAR MEETING SCHEDULE Director of Finance Chavez provided a staff report and responded to Committee Member inquiries. Motion by: Committee Member Garcia Seconded by: Committee Member Harnik To establish a regular quarterly meeting schedule, with meetings held on the fourth Tuesday of January, April, July, and October. Motion Carried (6 to 0) 7. INFORMATIONAL REPORTS 7.a CITY STAFF Director of Finance Chavez provided information regarding the Quarter 3 2025 Measure G Scorecard and responded to Committee Member inquiries; no action was taken. 7.a.1 PFM INVESTMENT ADVISOR YEAR IN REVIEW REPORT Robert Montoya narrated a PowerPoint presentation and responded to Committee Member inquiries; no action was taken. 7.a.2 ATTENDANCE REPORT Report provided; no action taken on this item. 8. REQUESTS FOR ACTION None. 9. ADJOURNMENT The Finance Committee adjourned at 11:00 a.m. Docusign Envelope ID: 93A7F23E-195B-4A23-93DC-DA299F834EBA Finance Committee Regular Meeting Minutes April 22, 2025 5 10. PUBLIC NOTICES _______________________________ Monique Lomeli, Senior Deputy Clerk Recording Secretary _________________________ Veronica Chavez, Finance Director Secretary _________________________ DATE APPROVED BY FINANCE COMMITTEE Docusign Envelope ID: 93A7F23E-195B-4A23-93DC-DA299F834EBA July 22, 2025