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MINUTES BUDGET AND FINANCE COMMISSION SPECIAL SESSION June 4, 2020 ONLINE ZOOM MEETING

SPECIAL SESSION AT OR AFTER 10:00 AM

CALL TO ORDER

ROLL CALL

Present:	James Beasley, Chairman
	John Latchford, Vice Chairman
	Michael Mason, Commissioner
	David Newell, Commissioner
	Cathy Solverson, Commissioner
Staff Present:	Josh Nicolson, Councilmember
	Mary Jacobs, Town Manager
	David Gephart, CFO
	Tobin Sidles, Legal Services Director

Commissioner Newell is in attendance via phone.

Commissioner Newell stated he would have to leave the meeting in approximately 10 minutes and would rejoin if possible.

CALL TO AUDIENCE

No speakers

SPECIAL SESSION AGENDA

PRESENTATION AND POSSIBLE DISCUSSION ON THE TOWN MANAGER'S RECOMMENDED BUDGET FOR FY2020-2021

Mr. Gephart stated this item was listed to provide the Commission with an opportunity to provide comments and/or feedback to the Council.

Discussion ensued between the Commission and staff regarding the Town Manager's Recommended Budget.

Chairman Beasley asked if a motion was needed. Ms. Jacobs stated it was up to the Commission.

Discussion continued between the Commission and staff.

Ms. Jacobs suggested staff summarize the conversation and comments, email it out to the Commission. The Commission members would then individually provide their comments to Mr. Gephart. The edits would be made and provided to the Council in a memorandum before the next council meeting.

BUDGET/FINANCE COMMISSION RECOMMENDATION OF APPROVAL OF PSPRS PENSION FUNDING POLICY TO THE TOWN OF ORO VALLEY TOWN COUNCIL

Mr. Gephart gave a brief overview of the (PSPRS) Pension Funding Policy.

Commissioner Newell left the meeting.

Chairman Beasley stated he had one comment for the last line of the Appendix. He asked for 'reference of the historical performance information comes from note #17 in the CAFR'.

Commissioner Mason asked if on page 3 where it reads "the Town should strive" the word should be changed to will. The Town 'will strive'.

Discussion ensued between the Commission and staff.


				Motion by Commissioner Michael Mason, seconded by Vice Chairman John Latchford to recommend approval of the Pension Funding Policy with the following amendments: Page 3 top bullet point - remove the word should and replace with will Appendix A attached to the policy - provide reference to the Appendix that information comes out of note #17 of the Town's Comprehensive Annual Financial Report.

Vote: 4 - 0 Carried

Other:

Commissioner David Newell (ABSENT)

COUNCIL LIAISON COMMENTS

Councilmember Nicolson thanked the Commission for their time and hard work.

FUTURE AGENDA ITEMS

Monthly financials
Short term investments
Self insured funds
Comprehensive financial policy

ADJOURNMENT


				Motion by Commissioner Michael Mason, seconded by Commissioner Cathy Solverson to adjourn the meeting at 11:38 a.m.

Vote: 4 - 0 Carried

Other:

Commissioner David Newell (ABSENT)

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