HomeMy WebLinkAbout02.19.2020 Finance Committee Minutes CITY OF SARATOGA
ACTION MINUTES
COUNCIL FINANCE COMMITTEE
FEBUARY 19, 2020
TIME 4:00 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, Cherbone
1. APPROVAL OF PRIOR FINANCE COMMITTEE MEETING MINUTES
A. January 9, 2020 Meeting Minutes - approved
2. ORAL & WRITTEN COMMUNICATIONS
A. None
3. OLD BUSINESS
A. None
4. NEW BUSINESS
A. Financial Audit Contract
• Action Item - Finance Committee recommends bringing Chavan &Associates
contract extension (with lead partner change) to Council for approval.
B. Hillside Reserve Request
• Action Item -Finance Committee recommends staff prepare staff report for March
4th to request emergency use of Hillside Reserve Fund for funding needed in
excess of available balance in Retaining Wall CIP.
C. Council Retreat Preparation
1) CIP Projects/Funding
• Action Item - bring to Council Retreat as presented
2) Fiscal Policy Statements Update
Action Item - bring to Council Retreat
D. Pension Stabilization Fund
• Action Item -Staff to research 115 Trust and bring recommendations back to
Finance Committee
E. Long Term Financial Plan (LTFP)
• Action Item - Staff to continue development of LTFP and bring to Finance
Committee for review/approval as needed
F. Annual Committee Workplan Review
• Action Item - none
G. Next Finance Committee meeting date
• Scheduled for March 26, 2020 at 3:30pm
5. ADJOURNMENT