City Council Chambers
29844 Haun Road
Menifee, CA 92586
Lesa Sobek, District 3
Dean Deines, District 4
MINUTES
Finance Committee
Regular Meeting Minutes
Tuesday, November 12, 2024
2:00 PM Regular Meeting
Travis Hickey, Chief Financial Officer
Edna A. Aguilar, Meeting Clerk
REGULAR MEETING (2:00 PM)
1. CALL TO ORDER
Mayor Pro Tem Deines called the meeting to order at 2:00 PM.
2. ROLL CALL
3. PRESENTATIONS NONE
4. PUBLIC COMMENTS (NONAGENDA ITEMS)
None.
5. APPROVAL OF MINUTES
5.1 September 10, 2024, Minutes
The minutes were approved unanimously (20).
6. DISCUSSION ITEMS
6.1 Fiscal Year 2023/24 Annual Financial Audit Update
ACTION
1. Received and filed the City of Menifee Annual Financial Audit Process Overview Presentation for Fiscal Year 2023/24; and
2. Provided feedback on future year(s) financial audit updates.
Chief Financial Officer Travis Hickey introduced the item. Malody & Scott, LLP Manager Evelyn MorentinBarcena and Scott Manno provided a brief overview on the Fiscal Year 2023/24 Annual Financial Audit Update. The Finance Committee requested to see the audit only if there are any changes or findings.
6.2 Proposed Formation of Community Facilities District No. 20251 by JPMB Investments, LLC
ACTION
1. Reviewed the proposed Community Facilities District (“CFD”) No. 20251, composed of 96 singlefamily homes within Tract 38128 to finance certain costs of public improvements within the development and recommend submittal to the City Council for consideration.
Chief Financial Officer Travis Hickey introduced the item and consultant Shane Spicer.
Mr. Spicer provided a presentation.
6.3 Proposed Formation of Community Facilities District No. 20252, Quartz Trail, by Lennar Homes
ACTION
1. Reviewed the proposed Community Facilities District (“CFD”) No. 20252, Quartz Trail, by Lennar Homes to finance certain costs of public improvements for the development of a residential tract containing 80 lots located north of Corson Avenue and east of Evans Road and recommend submittal to the City Council for consideration.
Chief Financial Officer Travis Hickey introduced the item and consultant Shane Spicer provided a presentation.
6.4 Proposed Formation of Community Facilities District No. 20254, Heritage Village, by Foremost Pacific Group
ACTION
1. Reviewed the proposed Community Facilities District (“CFD”) No. 20254, Heritage Village, to finance certain costs of public improvements for the development of 162 townhomes located north of Rouse Road and west of Menifee Road and recommend submittal to the City Council for consideration.
Chief Financial Officer Travis Hickey introduced the item and consultant Shane Spicer provided a presentation.
6.5 Proposed Bond Issuance for Community Facilities District No. 20232 Improvement Area 1, Cimarron Ridge
ACTION
1. Reviewed the proposed bond issuance request for Community Facilities District (“CFD”) No. 20232 Improvement Area 1, Cimarron Ridge by Pulte Homes, to finance the costs of certain public improvements in connection with the development of 424 homes in a community located south of Rouse Road and west of Byers Road within the City of Menifee; and
2. Recommended that the Finance Department proceed with the preparation of the Official Statement and other legal documents related to the transaction for presentation to the City Council at a future City Council meeting.
Chief Financial Officer Travis Hickey introduced the item and consultant Shane Spicer.
Mr. Spicer provided a presentation.
7. STAFF COMMENTS
The Committee set the next meeting date for January 21 , 2025 , at 2:00 PM.
8. COMMITTEE MEMBER UPDATES AND COMMENTS
None.
9. FUTURE AGENDA ITEMS
None .
10. ADJOURNMENT
Mayor Pro Tern Deines adjourned the meeting at 2:56 PM.
Meeting C er