HomeMy WebLinkAbout01.10.2023 Finance Committee Agenda PacketCity Council Finance Committee Agenda January 10, 2023
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SARATOGA CITY COUNCIL
FINANCE COMMITTEE
JANUARY 10, 2023
4:00 P.M. MEETING
Teleconference/Public Participation Information - Special Meeting
The Special Meeting will be held in-person and by teleconference pursuant to amendments to
the teleconference rules required by the Ralph M. Brown Act allowing teleconferencing during
a proclaimed state of emergency when a local official has recommended social distancing.
Members of the City Council and the public may participate in person at the location listed
below or via the Zoom platform using the information below.
Members of the public can view and participate in the meeting by:
1. Attending the meeting in person in the Linda Callon Conference Room located at 13777
Fruitvale Avenue, Saratoga CA 95070
2. Accessing the meeting through Zoom
* Webinar URL https://us02web.zoom.us/j/89749406145
* Webinar ID: 897 4940 6145
* 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
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.
CALL TO ORDER
City Council Finance Committee Agenda January 10, 2023
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ROLL CALL
AGENDA ITEMS
1. Finance Committee Minutes
Recommended Action:
Review and approve the minutes for the November 29, 2022 special meeting
Finance Committee Minutes
2. 2023 Regular Meeting Schedule, Tentative Agenda Topics, and Draft 2023-24 Budget
Calendar
Recommended Action:
Adopt regular meeting schedule and tentative agenda topics for 2023
Receive Draft 2023-24 Budget Calendar
2023 Meeting Schedule Agenda Topics Budget Calendar
Attachment A - Draft Budget Calendar
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 January 9, 2023, at the City of Saratoga, 13777 Fruitvale Ave.,
Saratoga, CA 95070, and on the City’s website at www.saratoga.ca.us.
Signed this 9th day of January 2023 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]
City Council Finance Committee Minutes – November 29, 2022
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MINUTES
SARATOGA CITY COUNCIL FINANCE COMMITTEE
SPECIAL MEETING
NOVEMBER 29, 2022
CALL TO ORDER
The meeting was called to order at 3:30 p.m.
ROLL CALL
Present: Mayor Tina Walia, Vice Mayor Kookie Fitzsimmons
Also Present: Nick Pegueros, Administrative Services Director
James Lindsay, City Manager
Crystal Bothelio, Assistant City Manager
Agnes Pabis, Finance Manager
Paul Pham, Chavan & Associates, LLP
Gina Scott, Administrative Analyst
ORAL COMMUNICATIONS ON NON-AGENDIZED ITEMS
None
AGENDA ITEMS
1. Finance Committee Minutes
Recommended Action:
Approve the minutes for the October 27, 2022, Finance Committee Regular Meeting.
FITZSIMMONS/WALIA MOVED TO APPROVE THE MINUTES FOR THE OCTOBER 27, 2022
FINANCE COMMITTEE REGULAR MEETING. MOTION PASSED BY VERBAL ROLL CALL. AYES:
FITZSIMMONS, WALIA. NOES: NONE. ABSTAIN: NONE.
2. Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022
Recommended Action:
Receive report – No action required
Finance Manager Agnes Pabis introduced Paul Pham from Chavan & Associates LLP, the City’s
auditing firm. Paul provided an overview of the ACFR report.
3. 2023-24 Capital Improvement Program (CIP) Development
Recommended Action:
Receive report – No action required
Administrative Services Director Nick Pegueros provided a summary of the Capital
Improvement Program Project Process Policy timeline.
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City Council Finance Committee Minutes – November 29, 2022
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ADJOURNMENT
FITZSIMMONS/WALIA MOVED TO ADJOURN THE MEETING AT 3:55 PM. MOTION PASSED BY
VERBAL ROLL CALL. AYES: FITZSIMMONS, WALIA. NOES: NONE.
Minutes respectfully submitted:
Gina Scott, Administrative Analyst
City of Saratoga
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Memorandum
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DATE: January 10, 2023
TO: Finance Committee
FROM: Nick Pegueros
SUBJECT: 2023 Regular Meeting Schedule, Tentative Agenda Topics, and Draft Budget
Calendar
City staff recommends that the Finance Committee take the following action:
1. Adopt the Committee’s regular meeting schedule and tentative agenda topics listed
below.
2. Receive the Draft Budget Calendar (Attachment A)
February 7th
• Independent Auditor Request for Proposals (RFP) – Review draft RFP
• GASB 75/76 Implementation – Receive report from actuary and consider
implementation recommendations for City Council action
• Fee study results – Receive fee study results and staff’s recommendations
• Financial policies – A comprehensive review and update of City Council adopted
financial policies
March 7th
• Financial policies – Proposed draft financial policy updates
• Draft fee schedule update – Review staff’s recommended fee schedule updates and
recommend City Council action
April 11th
• Independent Auditor selection – Review proposals and recommend City Council
selection of the City’s independent auditor
• Financial policies – Final draft review and recommend City Council action
• 2023-24 preliminary budget review – Presentation of preliminary budget, provide input
and requests for additional information
May 9th
• Review 2023-24 enabling resolutions (Gann Limit, General Obligation (GO) Bond rate,
Arrowhead assessment review, Investment Policy) and recommend City Council action
June 13th and July 11th
• Proposed summer recess
August 8th
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Memorandum
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• Agenda items to be determined
September 12th
• Preliminary fiscal year-end close – Receive staff report on year-end actuals as of June 30,
2023
October 10th
• Agenda items to be determined
November 28th
• Report from City’s Independent Auditor on the City’s Annual Comprehensive Financial
Report for the fiscal year ended June 30, 2023
December 12th
• Agenda items to be determined
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2023-01-09
City of Saratoga
DRAFT 2023-24 Budget Calendar
Legend
Budget foundation Policies
Capital Improvement Program (CIP) Revenue
Budget decision
1/4/23
City Council
2023-24 Budget Considerations and 3-year Forecast Presentation
Report on Existing Labor Agreements and Framework for Negotiations
1/10/23 Finance Committee
2023-24 budget calendar
2/10/23
City Council Retreat
Mid-year budget update
Updated 3-year forecast
CIP preview
2023-24 budget balancing measures
Service levels
2/7/23
Finance Committee
City Council financial policies review
General financial operating policies review
Fee study results review
2/15/23 City Council
Mid-year budget amendments
3/7/23
Finance Committee
Proposed draft financial policy updates
Draft fee schedule update
3/15/23
City Council
2023-24 CIP prioritization
Fee study presentation and recommendations
4/5/23 City Council
Capital improvement program (CIP) projects and funding, final review
4/11/23
Finance Committee
Final draft financial policy updates
2023-24 preliminary budget and initiatives review
4/19/23 City Council
July 1, 2023 Master Fee Schedule Public Hearing and resolution adoption
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2023-01-09
City of Saratoga
DRAFT 2023-24 Budget Calendar
5/3/23 City Council
2023-24 budget and financial policies review
5/9/23
Finance Committee
Review enabling 2023-24 Resolutions: Gann Limit, General Obligation (GO) Bond rate,
Arrowhead assessment review, Investment Policy
5/17/23
City Council
2023-24 draft proposed budget, requests clarification, and consensus direction for
proposed budget public hearing
6/7/23 City Council
2023-24 Proposed Budget Public Hearing
6/21/23 City Council
Adopt 2023-24 budget and enabling resolutions
7/1/23 Beginning of fiscal year 2023-24
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