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MINUTES BUDGET AND FINANCE COMMISSION REGULAR SESSION FEBRUARY 15, 2022 COUNCIL CHAMBERS 11000 N. LA CAÑADA DRIVE

REGULAR SESSION AT OR AFTER 4:00 PM

CALL TO ORDER - Acting Chair Solverson called the meeting to order at 4:02 P.M.

ROLL CALL

Present:	Cathy Solverson, Acting Chair
	Michael Mason, Commissioner
	James Beasley, Commissioner
Staff Present:	David Gephart, Chief Financial Officer
	Tobin Sidles, Legal Services Director
	Wendy Gomez, Finance and Budget Administrator
	Chris Hutchison, Senior Budget Analyst
	Joseph Winfield, Mayor
	Clark Partridge, PSPRS Consultant

PLEDGE OF ALLEGIANCE - Acting Chair Solverson 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:

- Budget season is in full swing
- Town staff is redoing the 10 year CIPs
- Town Council retreat is on Friday
- Town Council meeting tomorrow will cover the Oro Valley Marketplace discussion
- Former Chair Latchford's resignation and two open seats on the Budget and Finance Commission

REGULAR SESSION AGENDA

DISCUSSION AND ACTION ON ELECTING A CHAIR AND VICE-CHAIR FOR THE BUDGET AND FINANCE COMMISSION

Motion by Commissioner James Beasley, seconded by Commissioner Michael Mason to elect Acting Chair Cathy Solverson as the Chair and to elect Commissioner Mason as the Vice Chair of the Budget and Finance Commission for the coming year.

Vote: 3-0 Carried

REVIEW AND APPROVAL OF THE JANUARY 18, 2022 REGULAR SESSION MEETING MINUTES

Motion by Vice Chair Michael Mason, seconded by Commissioner James Beasley to approve the January 18, 2022 minutes as written.

Vote: 3-0 Carried

PRESENTATION AND DISCUSSION OF PSPRS PENSION FUNDING AND RELATED PENSION FUNDING POLICY

PSPRS Consultant Clark Partridge presented on Agenda Item #3 via Zoom.

Discussion ensued amongst staff and commissioners.

PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 21/22 FINANCIAL UPDATE THROUGH DECEMBER 2021

Finance and Budget Administrator Wendy Gomez presented on Agenda Item #4.

Discussion ensued amongst staff and commissioners.

COUNCIL LIAISON COMMENTS

Mayor Winfield congratulated Chair Solverson and Vice Chair Mason on their nominations.

Mayor Winfield invited the Budget and Finance Commission to attend the Town Council Retreat.

FUTURE AGENDA ITEMS

- Pension funding policy

ADJOURNMENT

Motion by Commissioner James Beasley, seconded by Vice Chair Michael Mason to adjourn the meeting at 5:06 P.M.

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 15 day of February, 2022. I further certify that the meeting was duly called and held and that a quorum was present.

Dated this 18 day of February, 2022.

___________________________
Alison Cote
Legal Secretary