HomeMy WebLinkAbout08.27.2020 Finance Committee agenda packet
CITY OF SARATOGA
COUNCIL FINANCE COMMITTEE
AUGUST 27, 2020
Teleconference/Public Participation Information to Mitigate the Spread of COVID‐19
This meeting will be entirely by teleconference. All Council members and staff will only participate
via the Zoom platform using the process described below. The meeting is being conducted in
compliance with the Governor’s Executive Order N‐29‐20 suspending certain teleconference rules
required by the Ralph M. Brown Act. The purpose of this order was to provide the safest
environment for the public, elected officials, and staff while allowing for continued operation of
the government and public participation during the COVID‐19 pandemic.
Members of the public can view and participate in the meeting by:
1. Using the Zoom website https://us04web.zoom.us/j/277293284 or App Webinar ID:
277 293 284 and raising their hand to speak on an agenda item when directed by the
Mayor.
2. Calling 1.669.900.6833 or 1.408.638.0968 and pressing *9 to raise their hand to speak
on an agenda item when directed by the Mayor.
The public will not be able to participate in the meeting in person.
As always, members of the public can send written comments prior to the meeting by
commenting online at www.saratoga.ca.us/fc prior to the start of the meeting. These emails will
be provided to the members of the Council and will become part of the official record of the
meeting.
During the meeting the Mayor will explain the process for members of the public to be recognized
to offer public comment.
In accordance with the Americans with Disabilities Act and the Governor’s Executive Order, if
you need assistance to participate in this meeting due to a disability, please contact the City
Clerk at debbieb@saratoga.ca.us or calling 408.868.1216 as soon as possible before the
meeting. The City will use its best efforts to provide reasonable accommodations to provide as
much accessibility as possible while also maintaining public safety.
TIME 1:00 p.m.
LOCATION Virtual zoom meeting
1. CALL TO ORDER Mayor Miller
2. ROLL CALL Council Members: Miller. Bernald, Zhou, Cappello, Kumar
3. REPORT ON POSTING OF THE AGENDA: Pursuant to Government Code Section 54954.2,
the agenda for this meeting was properly posted on: August 24, 2020.
4. ORAL & WRITTEN COMMUNICATION
Any member of the public may address the Committee about any matter not on the agenda
for this meeting for up to three minutes. Committee members may not comment on the
matter but may choose to place the topic on a future agenda.
5. APPROVAL OF FINANCE COMMITTEE MEETING MINUTES FOR July 23, 2020
6. OLD BUSINESS
A. N/A
7. NEW BUSINESS
B. Electric Vehicle Charging Station Review
C. Cares Act Funding
D. CalPERS Assessed Valuation Reports
E. Next Finance Committee meeting (proposed date: September, Thursday, 1:00 PM)
8. ADJOURNMENT
CERTIFICATE OF POSTING OF THE AGENDA, DISTRIBUTION OF THE AGENDA PACKET,
COMPLIANCE WITH AMERICANS WITH DISABILITIES ACT
I, Mary Furey, Administrative Services Director for the City of Saratoga, declare that the
foregoing agenda for the meeting of the Council Standing Finance Committee of the City of
Saratoga was posted and available for public review on August 24, 2020 at the City of Saratoga,
13777 Fruitvale Ave., Saratoga, CA 95070, and on the City’s website at www.saratoga.ca.us.
Signed this 24th day of August 2020 at Saratoga, California.
Mary Furey, Administrative Services Director
In compliance with the Americans with Disabilities Act, if you are a disabled person and need a
disability-related modification or accommodation to participate in this meeting, please contact
the City Clerk’s Office at (408) 868-1216 or by email at debbieb@saratoga.ca.us. Requests must
be made as early as possible and at least one full business day before the start of the meeting.
In accordance with the Ralph M. Brown Act, staff reports and other materials provided to the members
of the legislative body will be made available following removal of State and local shelter in place
orders in the office of the City Clerk at 13777 Fruitvale Avenue, Saratoga, CA 95070.
[28 CFR 35.102-35.104 ADA title II]
Future Topics to Include:
• ADA Self-Evaluation and Transition Plan (Furey)
• Pension Stabilization Fund (Furey)
• Long-Term Financial Plan (Furey)
CITY OF SARATOGA
ACTION MINUTES
COUNCIL FINANCE COMMITTEE
JULY 23, 2020
TIME 2:00 p.m.
LOCATION Linda Callon Administration Conference Room
Saratoga City Hall
13777 Fruitvale Avenue
Saratoga, CA 95070
PRESENT Council Members: Miller, Bernald
ALSO PRESENT Staff Members: Lindsay, Furey, Jaw, Bothelio, Waltonsmith, Kagoshima,
Concerned Citizen
1.APPROVAL OF PRIOR FINANCE COMMITTEE MEETING MINUTES
A.April 30, 2020 Meeting Minutes – approved
2.ORAL & WRITTEN COMMUNICATIONS
A.None
3.OLD BUSINESS
A.None
4.NEW BUSINESS
A.Hakone Lease Agreement
Action Item – Finance Committee recommends City provide Hakone with $25,000
annually for capital maintenance, and to proceed with insurance requirements as
set out in the draft agreement. Hakone may request additional capital project
funding as needed.
B.Community Funded Project Policy
Action Item – Staff to prepare a Council Policy for Community Funded
Improvements Process.
C.ClearGov Software
Action Item – Staff to proceed with obtaining ClearGov software and begin
implementation process. If satisfied with product, staff to bring three year
contract to Council in September.
D.Next Finance Committee meeting date
Scheduled for August 27, 2020 at 2:00 pm
5.ADJOURNMENT
3
Memorandum
1
DATE: August 27, 2020
TO: Finance Committee
FROM: Mary Furey, Finance & Administrative Services Director
SUBJECT: Electric Vehicle Charging Station Review
Mayor Miller requested a review of the Electric Vehicle (EV) Charging Station rate
change from the hourly rate to the kWh rate structure, and a status update on the
EV stations in the City.
4
Memorandum
1
DATE: August 27, 2020
TO: Finance Committee
FROM: Mary Furey, Administrative Services Director
Dennis Jaw, Finance Manager
SUBJECT: CARES Act Funding Discussion
Saratoga is slated to receive a total of $383,132 in CARES Act Funding. The State is
requiring all agencies to submit reports by September 4, 2020 on their CARES Act
expenditures to date,as well as anticipated expenditures through the end of the
spending period (December 30, 2020).
The State provided an unofficial form through the League of California Cities which
includes reporting dollar amounts by category. While not definite, the final report
form is expected to look very similar to the available sample form.
At last week’s (8/19/2020) City Council meeting, Council reviewed CARES Act
financial assistance funding allocations, including $35,000 already approved for the
Village Parklet program, and requests for up to $35,000 for Santa Clara County’s
(SCC) Isolation & Quarantine Support program, and $10,000 Great Plates Feeding
program. Another $50,000 was recommended to be set aside for a City of Saratoga
Business License Fee Waiver program. Council approved funding for the County
programs, but wanted the Finance Committee to discuss the disbursement of the
remaining available funds, including a possible Business License Fee Waiver program.
A supplemental compilation of the City’s actual expenditure information to date and
potential allowable expenses will be provided to Council via the Agenda on the City’s
website with a supplemental report of expenditures, and a list of potential allowable
costs prior to the scheduled Finance Committee meeting on Thursday, August 27,
2020.
5
Memorandum
1
DATE: August 27, 2020
TO: Finance Committee
FROM: Mary Furey, Administrative Services Director
SUBJECT: CalPERS Assessed Valuation Report Update
CalPERS released the June 30, 2020 Assessed Valuation Reports last week. The City’s
Tier I UAL increased from the prior year due to the FY 2019/20 Investment Return of
4.7% being lower than the actuarial discount rate of 7%. As a result, the June 30,
2020 total UAL balance now stands at $8,656,850.
CalPERS Schedule of Plan’s Amortization Base is attached, along with an amortization
schedule that shows the payoff of the UAL under three scenarios: 1) a 30 year
minimum amount plan, 2) a 15 year payoff plan, and 3) a ten year payoff plan.
Currently, the City’s $1,000,000 annual contribution puts the City payoff somewhere
between 10 and 15 years. While the City entered into the additional UAL payment
plan strategy six years ago, changes in assumptions and lower than historical rates
of investments over most of the prior six years has both increased the liability amount
and the time required to pay the UAL off fully.
However, the $1,000,000 annual contribution policy will continue to provide extra
principal paydown and is recommended to remain at this level into the next several
fiscal years.
6
7
8