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MINUTES
BUDGET AND FINANCE COMMISSION
REGULAR SESSION
August 18, 2020
ONLINE ZOOM MEETING
             
REGULAR SESSION AT OR AFTER 4:00 PM
             
CALL TO ORDER
             
ROLL CALL
Present: Chairman James Beasley  
  Vice Chairman John Latchford  
  Commissioner David Newell  
  Commissioner Michael Mason  
Absent: Commissioner Cathy Solverson
Staff Present: Josh Nicolson, Councilmember
Mary Jacobs, Town Manager
David Gephart, CFO
Wendy Gomez, Finance and Budget Administrator
             
CALL TO AUDIENCE

No speakers
             
STAFF LIAISON REPORT

Mr. Gephart gave a brief update on the CARES ACT funding.
             
REGULAR SESSION AGENDA
             
   1. REVIEW AND APPROVAL OF THE JULY 21, 2020 REGULAR SESSION MEETING MINUTES
             
  Motion by Commissioner Michael Mason, seconded by Vice Chairman John Latchford to approve the minutes of the Budget and Finance Commission meeting from July 21, 2020, as written.

  Vote: 4 - 0 Carried
             
   2. TOWN INVESTMENTS AS OF JUNE 30, 2020
  Mr. Gephart gave a presentation on the Town's Investments.

Discussion regarding investments ensued between the Commission and staff.
             
   3. PRESENTATION OF BASICS OF FUND ACCOUNTING
  Mr. Gephart presented a PowerPoint presentation to the Commission.

Discussion amongst the Commission and staff occurred.  
             
   4. REVIEW AND DISCUSSION OF TOWN FINANCIAL AND BUDGETARY POLICIES
  Mr. Gephart gave a brief presentation on the Town's financial and budgetary policies.

Discussion between the Commission and staff regarding adding and or deleting policies as well as the structure of the policies occurred. 

Chairman Beasley left the meeting at 5:28 pm.
             
COUNCIL LIAISON COMMENTS
  Councilmember Nicolson mentioned Council was on break and the next regular session is September 2, 2020.

Councilmember Nicolson stated Council would provide an update regarding the fiscal analysis on September 16, 2020.
             
FUTURE AGENDA ITEMS
  None
             
ADJOURNMENT
             
  Motion by Commissioner Michael Mason, seconded by Commissioner David Newell to adjourn the meeting at 6:19 pm.

  Vote: 3 - 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 18th day of August, 2020. I further certify that the meeting was duly called and held and that a quorum was present.

Dated this 18th day of August, 2020.


___________________________
Veronica Cubbage
Senior Office Specialist

    

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