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MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
February 18, 2020
ORO VALLEY COUNCIL CHAMBERS
1100 N. LA CANADA DRIVE

REGULAR SESSION AT OR AFTER 4:00 PM

CALL TO ORDER

ROLL CALL

Present:	James Beasley, Chairman
	John Latchford, Vice Chairman
	David Newell, Commissioner
	Cathy Solverson, Commissioner
	Michael Mason, Commissioner
Staff Present:	Josh Nicholson , Councilmember
	Mary Jacobs, Town Manager
	Kevin Artz, Interim Finance Director/CFO
	Wendy Gomez, Finance & Budget Administrator

PLEDGE OF ALLEGIANCE

CALL TO AUDIENCE

No speakers came forward.

COUNCIL LIAISON COMMENTS

Chairman Beasley stated Councilmember Nicholson informed the Commission he would be running approximately 30 minutes late. Council Liaison Comments will be moved and the Commission would return to this item once Councilmember Nicholson is present.

STAFF LIAISON REPORT

Mr. Artz informed the Commission he attended the PSPRS presentation last week and information that will be provided at tonight's meeting comes directly from that session.

REGULAR SESSION AGENDA

REVIEW AND APPROVAL OF THE JANUARY 21, 2020 REGULAR SESSION MEETING MINUTES


				Motion by Vice Chairman John Latchford, seconded by Commissioner Cathy Solverson to approve the January 21, 2020 minutes as written.

				Vote: 5 - 0 Carried

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


				Motion by Vice Chairman John Latchford, seconded by Commissioner David Newell to re-elect Mr. Beasley as Chiarman and Mr. Latchford as Vice Chairman.

				Vote: 5 - 0 Carried

	3.			DISCUSSION AND POSSIBLE ACTION ON SETTING THE MEETING DAY AND TIME.
				Discussion between the Commission and staff ensued.


				Motion by Commissioner David Newell, seconded by Commissioner Michael Mason to table this item later in the agenda to allow Councilmember Nicholson to be present.

				Vote: 5 - 0 Carried

	4.			PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FY 19/20 FINANCIAL UPDATE THROUGH DECEMBER 2019. (Revisions to this item were made on 2/14/2020 at 2:58 pm)
				Ms. Gomez presented a PowerPoint presentation regarding the Town's FY 19/20 Financials through December 2019. Discussion between the Commission and staff followed.

	6.			DISCUSSION AND POSSIBLE ACTION ON SETTING THE MEETING DAY AND TIME.


				Motion by Commissioner David Newell, seconded by Commissioner Michael Mason to re-open Item # 3 the Discussion and possible action on setting a meeting date and time.

		Vote: 5 - 0 Carried
		Discussion ensued between the Commission, Councilmember Nicholson and staff regarding possibly changing the date and/or time of the meeting. After discussing changing the date and/or time, it was determined the meeting would remain the same.

	7.	DISCUSSION AND POSSIBLE ACTION ON THE TOWN OF ORO VALLEY PUBLIC SAFETY PERSONNEL RETIREMENT SYSTEM (PSPRS) FY 20/21 PENSION FUNDING POLICY.
		Mr. Artz provided a PowerPoint presentation for the Commission to view. Discussion ensued between the Commission and staff. Vice Chairman Latchford asked if staff could bring back a recommendation for the Commission to consider. Mr. Artz stated staff was planning on bringing back a recommendation based on the feedback from tonight's meeting. Mr. Artz stated a work session or study session could be scheduled for the Commission.

COUNCIL LIAISON COMMENTS
		Councilmember Nicholson stated the Town is going into the next budget season. He stated he will be looking at golf and the PSPRS.

FUTURE AGENDA ITEMS
		Mr. Artz stated on the next agenda staff has the PSPRS Pension and the monthly financials. Chairman Beasley asked about the ASRS. Mr. Artz stated he could present the accuaries for ASRS as information only if time allowed.

ADJOURNMENT


				Motion by Commissioner David Newell, seconded by Vice Chairman John Latchford to adjourn meeting at 6:57 pm.

Vote: 5 - 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 ____ day of ____________________, 2019. I further certify that the meeting was duly called and held and that a quorum was present.

Dated this _____ day of ____________________, 2019.

___________________________
Veronica Cubbage
Senior Office Specialist