MINUTES
MALIBU ADMINISTRATION & FINANCE SUBCOMMITTEE
SPECIAL MEETING
May 30, 2024
CITY HALL SURFRIDFER ROOM
2:00 P.M.
CALL TO ORDER
Mayor Pro Tem Stewart called the meeting t0 order at 2:01 pm.
ROLL CALL
The following persons were recorded in attendance:
PRESENT: Mayor Pro Tem Doug Stewart and Councilmember Bruce Silverstein ALSO PRESENT: Steve McClary, City Manager, Joseph Toney, Assistant City Manager; Rene'e Neerrnann, Finance Manager; and Cynthia Alba, Executive Assistant.
REPORT ON POSTING OF AGENDA
Executive Assistant Alba reported that the agenda for the meeting was properly posted on May 28, 2024.
APPROVAL OF AGENDA
MOTION Councilmember Silverstein moved, and Mayor Pro Tem Stewart seconded a motion to approve the agenda. The question was called, and the motion carried unanimously.
ITEM l PRESENTATIONS
None.
ITEM 2 OLD BUSINESS
None.
ITEM 3 NEW BUSINESS
A. Approval of Minutes
Recommended Action: Approve the minutes for the Administration and Finance Subcommittee Special meeting of May 2, 2024.
Malibu Administration and Finance Subcommittee
Special Meeting
Minutes of May 30, 2024
MOTION Councilmember Silverstein moved, and Mayor Pro Tem Stewart seconded a motion to approve the minutes for the Administration and Finance Subcommittee Special meetings of May 2, 2024.
B. Fiscal Year 2023-24 Third Quarter Financial Report
Recommended Action: Review Fiscal Year (FY) 2023-24 Third Quarter Financial Report.
Assistant City Manager Toney presented the staff report. He provided a high-level summary which included revenues and expenditures. He stated that the third quarter is similar to the third quarter of the previous year.
Mayor Pro Tem Stewart inquired about property taxes.
Assistant City Manager Toney clarified that projecting property tax payments are not split in half and explained that one payment is larger than the other and other smaller payment disbursements.
Mayor Pro Tem Stewart inquired about the FEMA reimbursement.
Assistant City Manager Toney stated that the process could take longer than expected and depends on how proj ects are closed.
Mayor Pro Tem Stewart inquired about the interest earnings, wastewater, and park development totals.
Assistant City Manager Toney stated that he would follow up on getting an answer regarding these totals.
Mayor Pro Tem Stewart inquired about the available SCE funds.
Assistant City Manager Toney stated that those funds are still tied to some proj ects and shared that they can get additional information on how these funds were allocated.
Mayor Pro Tem Stewart inquired about the budget for Public Safety.
Assistant City Manager Toney stated that a large portion of those funds are for the Sheriff Substation, however, added that hiring has been difficult, and they have lowered those appropriations for the upcoming fiscal year.
Councilmember Silverstein inquired about personnel being a line item and inquired if it could be added to the quarterly reports.
Finance Manager Neermann stated that personnel is a line item in the budget, and shared that personnel could be added as a separate schedule in the quarterly reports Malibu Administration and Finance Subcommittee
Special Meeting
Minutes of May 30, 2024
as a total. She stated that it would take effort to include this information for each department, but the department would do what they can.
Mayor Pro Tem Stewart inquired about capital project spending.
Assistant City Manager Toney stated that some of the lack of spending is due to multi-year projects getting full allocation.
Finance Manager Neermann agreed and shared that they have spoken with the departments and have asked them to only add to the budget what is anticipated for the one year instead of allocating the funds for a multiyear project.
City Manager McClary shared that in working with neighboring cities he has learned that this is a common issue amongst other cities. He stated that there is also a built-in lag where payments aren’t paid until later in the fiscal year.
Assistant City Manager Toney reiterated the importance of a 5-year plan for capital improvement plans and grant funding.
Mayor Pro Tem Stewart inquired about the Legacy Park debt service.
Finance Manager Neermann stated that the city receives a one-time annual invoice.
Mayor Pro Tem Stewart inquired about surplus funds.
Assistant City Manager Toney stated that there are many reasons, including a lack of staffing and creating better department projections.
Mayor Pro Tem Stewart commended the finance team for all their hard work.
ADJOURNMENT
At 3:11 p.m., Mayor Pro Tem Stewart adjourned the meeting.
Approved and adopted by the Administration and Finance
Subcommittee of the City oflE/I'ali/bii on September 26, 2024. (z’/
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DOU%TFWART, Mayor Pro Tem
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