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MINUTES BUDGET AND FINANCE COMMISSION REGULAR SESSION JUNE 15, 2021 ONLINE ZOOM MEETING

REGULAR SESSION AT OR AFTER 4:00 PM

CALL TO ORDER - Chair Latchford called the meeting to order at 4:00 P.M.

ROLL CALL

Present:	John Latchford, Chairman
	Cathy Solverson, Vice Chairman
	Michael Mason, Commissioner
	James Beasley, Commissioner
Absent:	David Newell, Commissioner
Staff Present:	David Gephart, Chief Financial Officer
	Michael Dyckman, Senior Budget Analyst
	Wendy Gomez, Finance and Budget Administrator
	Tobin Sidles, Legal Services Director

PLEDGE OF ALLEGIANCE - Chair Latchford led the group in the Pledge of Allegiance.

CALL TO AUDIENCE - No comments were received.

STAFF LIAISON REPORT

Chief Financial Officer David Gephart discussed the following:

- the budget adoption by the Town Council at the next council meeting
- the update of the Town's bond rating with Standard & Poors
- bond issuance for PSPRS pension funding
- pension funding policy to be presented to Town Council for approval
- interviews to be held for a senior accountant position
- ARPA grant funds increased
- whether or not the commission should meet in July and August

REGULAR SESSION AGENDA

REVIEW AND APPROVAL OF THE MAY 17, 2021 REGULAR SESSION MEETING MINUTES


				Motion by Vice Chairman Cathy Solverson, seconded by Commissioner Michael Mason to approve the May 17, 2021 minutes as written.

		Vote: 4 - 0 Carried

	2.	PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 20/21 FINANCIAL UPDATE THROUGH APRIL 2021 Senior Budget Analyst Michael Dyckman presented on the Town's FY 20/21 Financial Update through April 2021. Discussion ensued amongst staff and commissioners regarding Agenda Item #2.

	3.	PRESENTATION AND POSSIBLE DISCUSSION OF THE FIVE-YEAR FINANCIAL FORECAST THROUGH FY 2026/27 Finance and Budget Administrator Wendy Gomez presented on the Five-Year Financial Forecast Through FY 26/27. Discussion ensued amongst staff and commissioners regarding Agenda Item #3.

COUNCIL LIAISON COMMENTS The council liaison was not present.

FUTURE AGENDA ITEMS - the status of Marketplace on Town Revenue - status or general update of other pension plan - commissioners agreed to take July and August off and meet again on September 21, 2021 at 4:00 PM

ADJOURNMENT


				Motion by Commissioner James Beasley, seconded by Commissioner Michael Mason to adjourn the meeting at 5:29 P.M.

Vote: 4 - 0 Carried

I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the regular session of the Town of Oro Valley Budget and Finance Commission of Oro Valley, Arizona held on the 15th day of June, 2021. I further certify that the meeting was duly called and held and that a quorum was present.

Dated this 17th day of June, 2021.

___________________________
Alison Cote
Legal Secretary