1 BUDGET, FINANCE AND ECONOMIC DEVELOPMENT
MINUTES
REGULAR MEETING
March 25, 2024, 12:00 p.m.
City Hall North Conference Room A
1600 Truxtun Avenue
Members Present: Andrae Gonzales
Eric Arias
Members Absent: Ken Weir
City Staff Present: Randy McKeegan, Finance Director
Josh Rudnick, Deputy City Attorney II
Jenni Byers, Acting Economic Development Director
Mario Orosco, Budget Officer
Joe Conroy, Public Information Officer
Sara Ortega, Deputy City Clerk
Michelle Cruz, Management Assistant
Gary Hallen, Assistant City Manager
Juan Heredia, Administrative Analyst III
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1. ROLL CALL
2. PUBLIC STATEMENTS
a. Agenda Item Public Statements
Michael Turnipseed gave comments regarding item 4.a
Roman Matera asked questions regarding item 4.a
Roman Matera gave comments regarding item 4.b
2 b. Non-Agenda Item Public Statements
Roman Matera gave comments on potential Economic Development areas within the City of Bakersfield.
3. ADOPTION OF MINUTES
a. Adoption of the February 26, 2024, regular meeting minutes Moved by: Eric Arias
Staff recommends adoption of minutes
Approved with committee member Weir absent
4. STAFF REPORT
a. 2022 Audit Reports to be referred to the Budget Finance and Economic Development Committee
1. Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2022.
2. Agreed Upon Conditions Report for the fiscal year ended June 30, 2022.
3. Auditor Communication with Those Charged with Governance (SAS 114 Letter) for fiscal year ended June 30, 2022.
4. Independent Auditors Report – Compliance with Contractual Requirements relative to the Bakersfield Subregional Wastewater Management Plan for the year ended June 30, 2022.
5. Independent Auditors Report on Appropriations Limit Worksheet (GANN Limit) of the City of Bakersfield for the fiscal year ended June 30, 2022.
6. Independent Auditors Report – Mechanics Bank Arena, Theater, Convention Center, Dignity Health Amphitheatre & Valley Children’s Ice Center for the fiscal year ended June 30, 2022.
7. Agreed Upon Procedures Report (Public Safety and Vital Services) for the fiscal year ended June 30, 2022.
8. Single Audit Report for the fiscal year ended June 30, 2022 Randy McKeegan, Finance director made staff comments and provided a presentation.
Eric Xin, partner at Brown Armstrong made comments.
Moved by: Andrae Gonzales
Staff recommends to accept the annual reports and refer them back to the City Council for final approval.
Approved with committee member Weir absent
3 b. 2023 CalPers Pension and 2022 OPEB Trust Updates
Randy McKeegan, Finance director made staff comments and provided a PowerPoint presentation.
Moved by: Eric Arias
Staff recommends receive and file presentation.
Approved with committee member Weir absent
5. NEW BUSINESS
6. COMMITTEE COMMENTS
Councilmember Arias, are we prepared to make presentation in the upcoming budget meetings talking about the health of each fund.
Randy McKeegan, made comments on the review and projection of all major revenue streams.
Councilmember Arias, made a request to receive more information regarding the general fund and taking a closer look at it for a better understanding of any challenges.
Chair Andrae Gonzales, made a referral regarding the section 108 housing would like to request a plan be developed utilizing section 108 to help with targeted Economic redevelopment projects. He would like to know the process and the timeline to implement a redevelopment plan and fund it through section 108.
7. ADJOURNMENT
Meeting was adjourned at 1:11 p.m.
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ANDRAE GONZALES, CHAIR
BUDGET, FINANCE AND ECONOMIC DEVELOPMENT COMMITTEE
4 ATTEST:
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JULIE DRIMAKIS, CITY CLERK
CITY CLERK and Ex Officio Clerk of
the Council of the City of Bakersfield