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MINUTES BUDGET AND FINANCE COMMISSION REGULAR SESSION OCTOBER 19, 2021 COUNCIL CHAMBERS 11000 N. LA CAÑADA DRIVE

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
	Michael Mason, Commissioner
	David Newell, Commissioner
	James Beasley, Commissioner
Absent:	Cathy Solverson, Vice Chair
Staff Present:	Mary Jacobs, Town Manager
	David Gephart, Chief Financial Officer
	Wendy Gomez, Finance and Budget Administrator
	Tobin Sidles, Legal Services Director
	Chris Hutchison, Senior Budget Analyst

PLEDGE OF ALLEGIANCE - Commissioner Mason led the group in the Pledge of Allegiance.

CALL TO AUDIENCE - No comments were received.

STAFF LIAISON REPORT

Chief Financial Officer David Gephart reported on the following:

- the Town received final pricing on the Parks and Rec bonds
- S & P reaffirmed the town's AA+ bond rating
- staff is in the process of drafting the Comprehensive Annual Financial Report for the last fiscal year
- the local sales tax in the monthly financial report
- Chris Hutchison is the new Senior Budget Analyst for the Town

REGULAR SESSION AGENDA

REVIEW AND APPROVAL OF THE SEPTEMBER 21, 2021 REGULAR SESSION MEETING MINUTES


				Motion by Commissioner Michael Mason, seconded by Commissioner James Beasley to approve the September 21, 2021 meeting minutes as written.

		Vote: 4 - 0 Carried

	2.	PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 21/22 FINANCIAL UPDATE THROUGH AUGUST 2021 Finance and Budget Administrator Wendy Gomez presented on the Town of Oro Valley's FY 2021/2022 Financial Update through August 2021. Discussion ensued amongst staff and commissioners.

COUNCIL LIAISON COMMENTS - The council liaison was not present.

FUTURE AGENDA ITEMS - a discussion regarding the employee pension plan - status report on minimizing potential losses for the portfolio

ADJOURNMENT


				Motion by Commissioner James Beasley, seconded by Commissioner David Newell to adjourn the meeting at 4:55 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 19th day of October, 2021. I further certify that the meeting was duly called and held and that a quorum was present.

Dated this 20th day of October, 2021.

___________________________
Alison Cote
Legal Secretary