Finance Commission

TOWN OF LOS GATOS FINANCE COMMISSION AGENDA OCTOBER 9, 2023 110 EAST MAIN STREET 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: 214575. 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 OCTOBER 9, 2023 110 EAST MAIN STREET LOS GATOS, CA 5:00 PM CALL MEETING TO ORDER ROLL CALL APPROVE REMOTE PARTICIPATION (This item is listed on the agenda in the event there is an emergency circumstance requiring a Council Member to participate remotely under AB 2449 (Government Code 54953)). 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. 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 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 May 8, 2023, Finance Commission Regular Meeting 2. Receive the Monthly Financial and Investment Reports (April through August 2023). 3. Receive the CalPERS Public Employees' Retirement Fund (PERF) Performance Report as of December 31, 2022 4. Receive the California Employer’s Pension Prefunding Trust (CEPPT) Strategy Market Value Summary Reports for the Period Ending March 31, 2023 and June 30, 2023; and Performance as of April 30, 2023 and July 31, 2023 5. Receive the California Employer’s Retiree Benefit Trust (CERBT) Strategy 1 Market Value Summary Reports for the Period Ending March 31 and June 30, 2023; and Performance Reports as of April 30, 2023 and July 31, 2023. 6. Receive the CalPERS Actuarial Valuation Reports as of June 30, 2022 7. Receive Report on Town Council’s Fiscal Year (FY) 2023/24 Budget Actions 8. Receive the Fourth Quarter Key Performance Indicators (KPIs) Page 2  VERBAL COMMUNICATIONS (Members of the public are welcome to address the Finance Commission 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 Chair 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.) 9. Discuss the Finance Commission Meeting Dates and Times for the Remainder of 2023 and Start the Preliminary Discussion for 2024 10. Discuss Municipal Investment and Banking Best Practices 11. Discuss Upcoming Audit and Provide Input on June 30, 2023 Annual Comprehensive Financial Report with the Town’s Independent Auditor 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