Finance Commission

Name: Finance Commission — Los Gatos, CA
Start: 2024-01-08T17:00:00
End: 2024-01-08T19:00:00
Location: Los Gatos, CA

Regular Meeting

Los Gatos, CA · January 8, 2024

Agenda Packet Minutes

Minutes

TOWN OF LOS GATOS FINANCE COMMISSION MINUTES Minutes of the Finance Commission Meeting January 8, 2024 The Finance Commission of the Town of Los Gatos conducted a meeting in person and utilizing teleconferencing means on Monday, January 8, 2024, at 5:00 p.m. THE MEETING WAS CALLED TO ORDER AT 5:00 P.M. ROLL CALL Present: Chair Rick Tinsley, Vice Chair Phil Koen, Commissioner Linda Reiners, Vice Mayor Matthew Hudes, and Council Member Rob Rennie Absent: Commissioner Andrew Howard Town Staff Present: Town Manager Laurel Prevetti, Finance Director Gitta Ungvari, and Town Clerk Wendy Wood. CONSENT ITEMS 1. Approve Draft Minutes of the December 11, 2024, Finance Commission Regular Meeting 2. Receive the Monthly Financial and Investment Report for November 2023. Items 1 was pulled from consent. There was no public comment. MOTION: Motion by Vice Chair Koen to approve the consent Item 2. Seconded by Commissioner Reiners. VOTE: Motion passed 3-0 (Commissioner Howard was absent). VERBAL COMMUNICATIONS No one spoke. OTHER BUSINESS 3. Receive an Overview of the Labor Negotiations Process. Chair Tinsley provided background information on the item. The Commission asked questions and discussed the item. 110 E. Main Street Los Gatos, CA 95030 ● 408-354-6832 www.losgatosca.gov PAGE 2 OF 4 SUBJECT: Draft Minutes of the Finance Commission Regular Meeting of January 8, 2024 DATE: January 29, 2024 Staff addressed the Commissioners’ questions. There was no public comment. MOTION: Motion by Vice Chair Koen to recommend the Town Council consider the Menlo Park's policy and act upon it accordingly. Seconded by Chair Tinsley. VOTE: Motion passed 3-0 (Commissioner Howard was absent). MOTION: Motion by Chair Tinsley to make a recommendation to the Town Council to provide guidance, review, and approve any ground rules negotiated with any of our bargaining units. Seconded by Commissioner Reiners. After further discussion motion was withdrawn. MOTION: Motion by Chair Tinsley to make a recommendation to the Town Council that it direct our labor negotiator to document in writing the ground rules that have been agreed upon with each of our three-bargaining units. Seconded by Vice Chair Koen. VOTE: Motion passed 3-0 (Commissioner Howard was absent). MOTION: Motion by Chair Tinsley to make a recommendation to the Town Council to publish salary surveys prior to beginning negotiations. Seconded by Vice Chair Koen. VOTE: Motion passed 3-0 (Commissioner Howard was absent). 4. Select a Chair and Vice Chair. There was no public comment. MOTION: Motion by Chair Tinsley to nominate Vice Chair Koen to be the Chair for 2024. Seconded by Commissioner Reiners. VOTE: Motion passed 3-0 (Commissioner Howard was absent). MOTION: Motion by Chair Tinsley to nominate Commissioner Reiners to be Vice Chair for 2024. Seconded by Chair Keon. VOTE: Motion passed 3-0 (Commissioner Howard was absent). PAGE 3 OF 4 SUBJECT: Draft Minutes of the Finance Commission Regular Meeting of January 8, 2024 DATE: January 29, 2024 5. Discuss and Confirm the Finance Commission Meeting Dates and Times for 2024. The Commission discussed the meeting dates. Commissioner Tinsley announced he will be resigning from the Commission at the end of the meeting. There was no public comment. No action was taken on this item. 6. Review and Discuss the Finance Commission Draft 2024 Workplan. Finance Director Gitta Ungvari presented the staff report. The Commission asked questions and discussed the item. Staff addressed the questions. There was no public comment. MOTION: Motion by Chair Keon to direct staff to the work plan items provided to the Commission and overlay it into Los Altos format starting with projects working left to right, ending with how often the Commission will touch the items and the target dates, and overlay with that the four additional growth projects discussed: five-year financial model, key performance indicators, fully funded five-year Capital Improvement Plan, and review the unreserved policy. Seconded by Commissioner Tinsley. VOTE: Motion passed 3-0 (Commissioner Howard was absent). 7. Review the Town’s Draft Financial Transactions Report for Submittal to the State Controller. Finance Director Gitta Ungvari presented the staff report. The Commission asked questions and discussed the item. Staff addressed the questions. There was no public comment. No action was taken on this item. PAGE 4 OF 4 SUBJECT: Draft Minutes of the Finance Commission Regular Meeting of January 8, 2024 DATE: January 29, 2024 1. Approve Draft Minutes of the December 11, 2023, Finance Commission Regular Meeting Vice Chair Reiners clarified the intent of her motion for Item 9 in the December 11, 2023 meeting minutes was to not to state “…separate accounting firm who will perform the work and someone else who will do the final preparation of the financial statements.” but instead state “…separate from our independent audit firm to perform work necessary for the preparation of the towns financial statements.” There was no public comment. MOTION: Motion by Vice Chair Reiners to approve the draft minutes of the December 11, 2023, Finance Commission Regular Meeting. Seconded by Commissioner Reiners. VOTE: Motion passed 3-0 (Commissioner Howard was absent). ADJOURNMENT: The meeting adjourned at 7:22 p.m. This is to certify that the foregoing is a true and correct copy of the minutes of the January 8, 2024, meeting as approved by the Finance Commission. /s/ Wendy Wood, Town Clerk

Agenda

TOWN OF LOS GATOS FINANCE COMMISSION AGENDA JANUARY 08, 2024 110 EAST MAIN STREET TOWN COUNCIL CHAMBERS 5:00 PM Rick Tinsley, Chair Phil Koen, Vice Chair Andrew Howard, Commissioner Linda Reiners, Commissioner Vacant, Commissioner Matthew Hudes, Vice 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 meeting may be viewed live through the Zoom webinar. 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/87195292751?pwd=sYpgKmAqAz0H1G57SOY53KFmd- l76w.YDyVmNMWYVFKoQM5 Passcode: 413416. You can also type in 871 9529 2751 in the “Join a Meeting” page on the Zoom website at https://zoom.us/join and use passcode: 413416. 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: 1052180. 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 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 Commissioner to participate remotely under AB 2449 (Government Code 54953)). 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 1 of this agenda. If an item is removed, the Chair has the sole discretion to determine when the item will be heard.) 1. Approve the Minutes of the December 11, 2023, Finance Commission Regular Meeting. 2. Receive the Monthly Financial and Investment Report for November 2023. VERBAL COMMUNICATIONS (Members of the public are welcome to address the Commission on any matter that is not listed on the agenda and is within the subject matter jurisdiction of the Commission. To ensure all agenda items are heard, this portion of the agenda is limited to 30 minutes. 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. Each speaker is limited to no more than three (3) minutes or such time as authorized by the Chair.) OTHER BUSINESS (Up to three minutes may be allotted to each speaker on any of the following items.) 3. Receive an Overview of the Labor Negotiations Process. 4. Select a Chair and Vice Chair. 5. Discuss and Confirm the Finance Commission Meeting Dates and Times for 2024. 6. Review and Discuss the Finance Commission Draft 2024 Workplan. 7. Review the Town’s Draft Financial Transactions Report for Submittal to the State Controller. ADJOURNMENT Page 2

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