HomeMy WebLinkAboutMinutes - Budget and Finance Commission - 10/20/2020 MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
OCTOBER 20,2020
ONLINE ZOOM MEETING
REGULAR SESSION AT OR AFTER 4:00 PM
CALL TO ORDER-Chair Beasley called the meeting to order at 4:01 p.m.
ROLL CALL
Present: John Latchford,Vice Chair
Michael Mason,Commissioner
David Newell,Commissioner
Cathy Solverson,Commissioner
James Beasley,Chair
Staff Present: Mary Jacobs,Town Manager
David Gephart,CFO
Tobin Sidles,Director of Legal Services
Wendy Gomez,Finance and Budget Administrator
Michael Dyckman,Senior Budget Analyst
PLEDGE OF ALLEGIANCE-Commissioner Mason led the group in the Pledge of Allegiance.
CALL TO AUDIENCE-No comments were received.
STAFF LIAISON REPORT
CFO David Gephart reported on the following:
-Capital Improvement Plan
-Upcoming audit
-Refunding water debt obligations
-Awards and recognition
REGULAR SESSION AGENDA
1. REVIEW AND APPROVAL OF THE SEPTEMBER 15,2020 REGULAR SESSION MEETING MINUTES
Motion by Vice Chair John Latchford,seconded by Commissioner Cathy Solverson to approve the
September 15,2020 minutes as written.
Vote:5-0 Carried
2. PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FISCAL YEAR 2020/21 FINANCIAL
UPDATE THROUGH AUGUST 2020
1
10/20/20 Minutes,Budget and Finance Commission Regular Session
Finance and Budget Administrator Wendy Gomez provided an update on the Town's Fiscal Year 2020/21
Financial Update through August 2020 and included the following:
-General Fund revenues and expenditures
-Highway Fund
-Community Center Fund
Discussion ensued amongst the Commission and staff regarding Item#2.
3. REVIEW AND DISCUSSION OF TOWN FINANCIAL AND BUDGETARY POLICIES
CFO David Gephart provided an overview of the updated policies based on the Commission's feedback.
The Commissioners reviewed the updated policies and provided comments and suggestions.
Discussion ensued amongst staff and the Commission regarding Item#3.
An updated version of the financial and budgetary policies to include suggestions from this evening's
meeting will be distributed to the Commission prior to the next Budget and Finance Commission meeting.
CFO David Gephart commented he plans to draft the following additional policies:
-Grants policy
-Accounting,auditing and financial reporting policy
-Internal controls policy
COUNCIL LIAISON COMMENTS-Councilmember Nicolson was unable to attend.
FUTURE AGENDA ITEMS
An investment update will be included in the Staff Liaison Report.
ADJOURNMENT
Motion by Commissioner Michael Mason,seconded by Commissioner Cathy Solverson to adjourn the
meeting at 6:48 p.m.
Vote:5-0 Carried
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 20th day of October,2020.I
further certify that the meeting was duly called and held and that a quorum was present.
Dated this 21st day of October,2020.
ji—t LAGY1/
Danielle Tanner
Senior Office Specialist
10/20/20 Minutes,Budget and Finance Commission Regular Session 2