Finance Commission

TOWN OF LOS GATOS FINANCE COMMISSION AGENDA MARCH 13, 2023 110 EAST MAIN STREET AND TELECONFERENCE TOWN COUNCIL CHAMBERS LOS GATOS, CA 5:00 PM Rick Tinsley, Chair Phil Koen, Vice Chair Stacey Dell, Commissioner Andrew Howard, Commissioner Linda Reiners, Commissioner Maria Ristow, Mayor Rob Rennie, Council Member IMPORTANT NOTICE This is a hybrid meeting and will be held in-person at the Town Council Chambers at 110 E. Main Street and virtually through the Zoom webinar application (log-in information provided below). Members of the public may provide public comments for agenda items in-person or virtually through the Zoom webinar by following the instructions listed below. The live stream of the meeting may be viewed on television and/or online at www.LosGatosCA.gov/TownYouTube. PARTICIPATION To provide oral comments in real-time during the meeting: • Zoom webinar: Join from a PC, Mac, iPad, iPhone or Android device: Please click this URL to join: https://losgatosca- gov.zoom.us/j/84071761435?pwd=dVlsVS8vRzRTYWp3T2ZKQnYrWWxkQT09 Passcode: 214575. You can also type in 840 7176 1435 in the “Join a Meeting” page on the Zoom website at https://zoom.us/join and use passcode: 729037. o When the Chair announces the item for which you wish to speak, click the “raise hand” feature in Zoom. If you are participating by phone on the Zoom app, press *9 on your telephone keypad to raise your hand.  Join by telephone: Join by Telephone: Dial: USA 877 336 1839 US Toll-free or 636 651 0008 US Toll. Conference code: 686100 o If you are participating by calling in, press #2 on your telephone keypad to raise your hand.  In-Person: If you wish to speak during the meeting, please complete a “speaker’s card” located on the back of the chamber benches and return it to the Town Clerk. If you wish to speak to an item on the agenda, please list the item number. If you wish to speak on an item NOT on the agenda, please list the subject and you may speak during the “Verbal Communications” period. The time allocated to speakers may change to better facilitate the Finance Commission meeting. When called to speak, you may be asked to provide your full name and your town/city of residence. This identifying information is optional and not a requirement for participation. Please limit your comments to three (3) minutes, or such other time as the Chair may decide, consistent with the time limit for speakers at a Commission meeting. If you wish to speak to an item or items on the Consent Calendar, please state which item number(s) you are commenting on at the beginning of your time. Page 1  TOWN OF LOS GATOS FINANCE COMMISSION AGENDA MARCH 13, 2023 110 EAST MAIN STREET AND TELECONFERENCE TOWN COUNCIL CHAMBERS LOS GATOS, CA 5:00 PM If you are unable to participate in real-time, you may email to Clerk@losgatosca.gov the subject line “Public Comment Item #__ ” (insert the item number relevant to your comment). Comments received by 11:00 a.m. the day of the meeting will be reviewed and distributed before the meeting. All comments received will become part of the record. RULES OF DECORUM AND CIVILITY To conduct the business of the community in an effective and efficient manner, please follow the meeting guidelines set forth in the Town Code and State law. The Town does not tolerate disruptive conduct, which includes but is not limited to: · Addressing the Finance Commission without first being recognized; · Interrupting speakers, Finance Commissioners, or Town staff; · Continuing to speak after the allotted time has expired; · Failing to relinquish the microphone when directed to do so; · Repetitiously addressing the same subject. Town Policy does not allow speakers to cede their commenting time to another speaker. Disruption of the meeting may result in a violation of Penal Code Section 403. MEETING CALLED TO ORDER ROLL CALL PLEDGE OF ALLEGIANCE CONSENT ITEMS (Items appearing on the Consent Items are considered routine Town business and may be approved by one motion. Any member of the Commission may request to have an item removed from the Consent Items for comment and action. Members of the public may provide input on any or multiple Consent Item(s) when the Chair asks for public comments on the Consent Items. If you wish to comment, please follow the Participation Instructions contained on Page 2 of this agenda. If an item is removed, the Chair has the sole discretion to determine when the item will be heard.) 1. Approve Draft Minutes of the February 23, 2023, Finance Commission Meeting. 2. Receive California Employer’s Retiree Benefit Trust (CERBT) Strategy 1 Market Value Summary Report for the Period Ending December 31, 2022. 3. Receive California Employer’s Pension Prefunding Trust (CEPPT) Strategy Market Value Summary Report for the Period Ending December 31, 2022. 4. Receive the Monthly Financial and Investment Report (January 2023). 5. Receive Information on the Town-wide Justice, Equity, Diversity, and Inclusion Plan. Page 2  VERBAL COMMUNICATIONS (Members of the public are welcome to address the Town Council on any matter that is not listed on the agenda. To ensure all agenda items are heard and unless additional time is authorized by the Mayor, this portion of the agenda is limited to 30 minutes and no more than three (3) minutes per speaker. In the event additional speakers were not able to be heard during the initial Verbal Communications portion of the agenda, an additional Verbal Communications will be opened prior to adjournment.) OTHER BUSINESS (Up to three minutes may be allotted to each speaker on any of the following items.) 6. Discuss and Approve the Finance Commission Special Meeting Dates and Times for 2023. 7. Receive Preliminary Fiscal Year 2023/24 – 2027/28 Five-Year Capital Improvement Program Information and Provide Recommendations to the Town Council. 8. Recommend that the Town Council Receive the Independent Accountants’ Report on Agreed-Upon Procedures on Measure G Revenues and Expenditures for the Period July 1, 2021 to June 30, 2022. 9. Receive Actuarial Presentation on CalPERS Analysis – 6/30/2021 Valuation Report by Foster & Foster Actuaries and Consultants and Recommend Amortization Bases for Future Potential Additional Discretionary Payments (ADPs). ADJOURNMENT IN COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT, IF YOU NEED SPECIAL ASSISTANCE TO PARTICIPATE IN THIS MEETING, PLEASE CONTACT THE CLERK DEPARTMENT AT (408) 354-6834. NOTIFICATION 48 HOURS BEFORE THE MEETING WILL ENABLE THE TOWN TO MAKE REASONABLE ARRANGEMENTS TO ENSURE ACCESSIBILITY TO THIS MEETING [28 CFR §35.102-35.104] Page 3