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MINUTES BUDGET AND FINANCE COMMISSION REGULAR SESSION SEPTEMBER 15, 2020 ONLINE ZOOM MEETING

REGULAR SESSION AT OR AFTER 4:00 PM

CALL TO ORDER - Chair Beasley called the meeting to order at 4:00 p.m.

ROLL CALL

Present:	Vice Chair John Latchford
	Commissioner Michael Mason
	Commissioner David Newell
	Commissioner Cathy Solverson
	Chair James Beasley
Staff Present:	Mary Jacobs, Town Manager
	David Gephart, CFO
	Gary Cohen, Town Attorney
	Wendy Gomez, Finance and Budget Administrator
	Michael Dykman, Senior Budget Analyst
Attendees:	Josh Nicolson, Town Council Liaison

PLEDGE OF ALLEGIANCE - Chair Beasley recited the Pledge of Allegiance.

CALL TO AUDIENCE - No speakers.

STAFF LIAISON REPORT

Mr. Gephart reported on the following:
- Upcoming audit
- Refunding water debt obligations
- July taxes

REGULAR SESSION AGENDA

REVIEW AND APPROVAL OF THE AUGUST 18, 2020 REGULAR SESSION MEETING MINUTES


				Motion by Commissioner Michael Mason, seconded by Commissioner David Newell to approve the August 18, 2020 meeting minutes as written.

		Vote: 5 - 0 Carried

	2.	PRESENTATION AND POSSIBLE DISCUSSION OF THE TOWN'S FISCAL YEAR 2019/20 FINANCIAL UPDATE THROUGH JUNE 2020 (YEAR-END, UNAUDITED)
		Ms. Gomez presented the following: - General Fund revenues, sales taxes and expenditures - Highway Fund revenues and expenditures - Community Center Fund revenues and expenditures

	3.	REVIEW AND DISCUSSION OF TOWN FINANCIAL AND BUDGETARY POLICIES
		Mr. Gephart discussed the structural modifications made to the Financial Planning Policies (Section A) in the current Financial and Budgetary Policies. Mr. Gephart presented the draft Town Financial and Budgetary Policies, including: - Budget Process - Long Range Planning - Fiscal Monitoring - Investments (reference current Town Investment Policy) - Capital Expenditures and Improvements Mr. Gephart provided a brief overview of the Revenue Policies (Section B) in the current Financial and Budgetary Policies. The Commission and staff discussed Item 3 and the Commission provided feedback.

COUNCIL LIAISON COMMENTS Councilmember Nicolson reported on the upcoming Town Council meeting agenda.

FUTURE AGENDA ITEMS Mr. Gephart said he will work on updating the Town Financial and Budgetary Policies and this item will be discussed further next month.

ADJOURNMENT


				Motion by Commissioner Cathy Solverson, seconded by Commissioner Michael Mason to adjourn the meeting at 6:37 p.m.

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 15th day of September, 2020. I further certify that the meeting was duly called and held and that a quorum was present.

Dated this 15th day of September, 2020.

___________________________
Danielle Tanner
Senior Office Specialist