HomeMy WebLinkAbout10.27.22 Finance Committee AgendaCity Council Finance Committee Agenda October 27, 2022
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SARATOGA CITY COUNCIL
FINANCE COMMITTEE
October 27, 2022
3:30 P.M. REGULAR MEETING
Teleconference/Public Participation Information to Mitigate the Spread of COVID-19
This meeting will be held entirely by teleconference. All members of the Committee and staff
will only participate via the Zoom platform using the process described below. The meeting is
being conducted pursuant to recent amendments to the teleconference rules required by the
Ralph M. Brown Act allowing teleconferencing during a proclaimed state of emergency when
local officials have recommended social distancing. The purpose of the amendments is 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://us02web.zoom.us/j/88318587204
Webinar ID: 883 1858 7204 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.
Written Communication
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.
Public Comment
Members of the public may comment on any item for up to three (3) minutes. The amount of
time for public comment may be reduced by the Mayor.
Meeting Recording Information
In accordance with the Saratoga City Council’s Meeting Recording Policy, the City
Council Finance Committee Meetings are recorded and made available to the public
following the meeting on the City website.
City Council Finance Committee Agenda October 27, 2022
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CALL TO ORDER
ROLL CALL
ORAL COMMUNICATIONS ON NON-AGENDIZED ITEMS
Any member of the public may address the Committee about any matter not on the agenda
for this meeting for up to three (3) minutes. The law generally prohibits the Committee from
discussing or taking action on such items. The Committee may choose to place the topic on a
future agenda.
AGENDA ITEMS
1. Finance Committee Minutes
Recommended Action:
Review and approve the minutes for the September 22, 2022 meeting
Finance Committee Minutes
2. Other Post-Employment Benefits (OPEBs) Actuarial Valuation Project Overview
Recommended Action:
Receive presentation from actuarial firm Foster & Foster – No action required
OPEBs Actuarial Valuation Project Overview
Attachment 1 - OPEBs and GASB 45 Q&A
Attachment 2 - What Is an Implied Subsidy
Attachment 3 - The Implied Subsidy and PEMHCA
Attachment 4 - GASB Approves New OPEB
3. Single Audit Update for the fiscal year ended June 30, 2022
Recommended Action:
Receive report – No action required
Preliminary Single Audit 2022-06-30
Attachment 1 - Schedule of Federal Awards 2021-22
Attachment 2 - Single Audit Exemption Notice
ADJOURNMENT
CERTIFICATE OF POSTING OF THE AGENDA, DISTRIBUTION OF THE AGENDA PACKET,
COMPLIANCE WITH AMERICANS WITH DISABILITIES ACT
I, Gina Scott, Administrative Analyst for the City of Saratoga, declare that the foregoing agenda
for the meeting of the City Council Finance Committee of the City of Saratoga was posted and
available for public review on October 24, 2022, at the City of Saratoga, 13777 Fruitvale Ave.,
Saratoga, CA 95070, and on the City’s website at www.saratoga.ca.us.
City Council Finance Committee Agenda October 27, 2022
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Signed this 24th day of October 2022 at Saratoga, California.
Gina Scott, Administrative Analyst
In accordance with the Ralph M. Brown Act, copies of the staff reports and other materials
provided to the Committee by City staff in connection with this agenda, copies of materials
distributed to the Committee concurrently with the posting of the agenda, and materials
distributed to the Committee by staff after the posting of the agenda are available on the City
website at www.saratoga.ca.us and are available for review in the office of the City Clerk at
13777 Fruitvale Avenue, Saratoga, California.
In compliance with the Americans with Disabilities Act and the Governor’s Executive Order, if
you need assistance to participate in this meeting, please contact the City Clerk at
bavrit@saratoga.ca.us or call 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.
[28 CFR 35.102-35.104 ADA title II]