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HomeMy WebLinkAboutMinutes - Budget and Finance Commission - 9/15/2020 MINUTES BUDGET AND FINANCE COMMISSION REGULAR SESSION SEPTEMBER 15,2020 ONLINE ZOOM MEETING REGULAR SESSION AT OR AFTER 4:00 PM CALL TO ORDER-Chair Beasley called the meeting to order at 4:00 p.m. ROLL CALL Present: Vice Chair John Latchford Commissioner Michael Mason Commissioner David Newell Commissioner Cathy Solverson Chair James Beasley Staff Present: Mary Jacobs,Town Manager David Gephart,CFO Gary Cohen,Town Attorney Wendy Gomez,Finance and Budget Administrator Michael Dykman,Senior Budget Analyst Attendees: Josh Nicolson,Town Council Liaison PLEDGE OF ALLEGIANCE-Chair Beasley recited the Pledge of Allegiance. CALL TO AUDIENCE-No speakers. STAFF LIAISON REPORT Mr.Gephart reported on the following: -Upcoming audit -Refunding water debt obligations -July taxes REGULAR SESSION AGENDA 1. REVIEW AND APPROVAL OF THE AUGUST 18,2020 REGULAR SESSION MEETING MINUTES Motion by Commissioner Michael Mason,seconded by Commissioner David Newell to approve the August 18,2020 meeting minutes as written. Vote:5-0 Carried 2. PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FISCAL YEAR 2019/20 FINANCIAL UPDATE THROUGH JUNE 2020(YEAR-END,UNAUDITED) 1 09/15/20 Minutes,Budget and Finance Regular Session Ms.Gomez presented the following: -General Fund revenues,sales taxes and expenditures -Highway Fund revenues and expenditures -Community Center Fund revenues and expenditures 3. REVIEW AND DISCUSSION OF TOWN FINANCIAL AND BUDGETARY POLICIES Mr.Gephart discussed the structural modifications made to the Financial Planning Policies(Section A)in the current Financial and Budgetary Policies. Mr.Gephart presented the draft Town Financial and Budgetary Policies,including: -Budget Process -Long Range Planning -Fiscal Monitoring -Investments(reference current Town Investment Policy) -Capital Expenditures and Improvements Mr.Gephart provided a brief overview of the Revenue Policies(Section B)in the current Financial and Budgetary Policies. The Commission and staff discussed Item 3 and the Commission provided feedback. COUNCIL LIAISON COMMENTS Councilmember Nicolson reported on the upcoming Town Council meeting agenda. FUTURE AGENDA ITEMS Mr.Gephart said he will work on updating the Town Financial and Budgetary Policies and this item will be discussed further next month. ADJOURNMENT Motion by Commissioner Cathy Solverson,seconded by Commissioner Michael Mason to adjourn the meeting at 6:37 p.m. Vote:5-0 Carded I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular session of the Town of Oro Valley Budget and Finance Commission of Oro Valley,Arizona held on the 15th day of September, 2019.I further certify that the meeting was duly called and held and that a quorum was present. Dated this 15th day of September,2020. Danielle Tanner Senior Office Specialist 09/15/20 Minutes,Budget and Finance Regular Session 2