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HomeMy WebLinkAbout10.27.22 Finance Committee AgendaCity Council Finance Committee Agenda October 27, 2022 Page 1 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 Page 2 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 Page 3 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]