COUNCIL BUDGET & FINANCE COMMITTEE MEETING
Meeting Minutes of November 20, 2024
Call to Order: 5:30 p.m.
Members Present: Mayor Salinas, Councilmember Syrop, and Councilmember Bonilla Jr.
Members Absent: None
Staff: Dustin Claussen, Regina Youngblood, Adam Kostrzak, Nicole Gonzales, Christina Crosby, Franchesca Hatfield, Crissy Mello, Nicholas Mullins Guests: Justin Resuello, PFM and Whitney Crockett, Maze & Associates Public Comments: None
Approval of Meeting Minutes from October 29, 2024
Action: Minutes reviewed and unanimously approved.
Investment Portfolio Review and FY 2025 Statement of Investment Policy Update Nicole Gonzales, Director of Finance and Justin Resuello of PFM presented Councilmember Syrop Questions:
With the recent change in interest rates, how is the City’s investment strategy impacted? Could the City consider adding language regarding investments in companies affiliated with fossil fuels into the City’s Statement of Investment Policy? Councilmember Bonilla Jr. Questions:
Where does the City’s 4% yield go? Is it reinvested or does it go to the City’s General Fund? What is the process to reallocate investments across sectors? Action: The Committee received the presentation and provided feedback.
FY 2024 Annual Audit Process
Whitney Crockett of Maze & Associates presented
Action: The Committee received the report.
Review and Approve the FY 2024/2025 Agenda Planning Calendar Action: The Committee reviewed the calendar and provided feedback.
Committee Members/Staff Announcements: None.
Adjournment: The meeting was adjourned at 6:34 p.m.
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