Finance Commission
Regular MeetingLos Gatos, CA · May 12, 2025
Minutes
TOWN OF LOS GATOS
FINANCE COMMISSION
MINUTES
Minutes of the Finance Commission Regular Meeting
May 12, 2025
The Finance Commission of the Town of Los Gatos conducted a regular meeting in person and
via teleconference.
THE MEETING WAS CALLED TO ORDER AT 5:33 P.M.
ROLL CALL
Present: Chair Linda Reiners, Vice Chair Ashby Monk, Commissioner Adam Fischer,
Commissioner Phil Koen, Commissioner Joe Rodgers, Mayor Matthew Hudes, and Vice Mayor
Rob Moore
Town Staff Present: Town Manager, Chris Constantin; Finance Director, Gitta Ungvari; Town
Clerk, Wendy Wood; and Finance and Accounting Manager, Eric Lemon.
CONSENT ITEMS
1. Approve the Minutes of the April 14, 2025, Finance Commission Regular Meeting
2. Approve the Minutes of the April 28, 2025, Finance Commission Special Meeting
3. Approve the Minutes of the May 5, 2025, Finance Commission Special Meeting
4. Receive the Monthly Financial and Investment Report for March 2025.
There was no public comment.
MOTION: Motion by Commissioner Koen to approve the consent items. Seconded by Vice
Chair Monk.
VOTE: Motion passed unanimously.
VERBAL COMMUNICATIONS
There was no public comment.
OTHER BUSINESS
5. Provide Recommendations to the Town Council Regarding the Proposed FY 2025-26
Operating and Capital Budgets, Including Budget Balancing Approaches
The Chair opened the item for discussion.
110 E. Main Street Los Gatos, CA 95030 ● 408-354-6832
www.losgatosca.gov
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The Commission discussed the item, asked questions, and provided feedback.
Staff addressed the Commissioners’ questions.
The Commission took a recess at 7:15 p.m.
The Commission reconvened at 7:21 p.m.
There was no public comment.
Town Manager Constantin summarized the Commission’s recommendations as follows:
Avoid drawing on reserves unless absolutely necessary;
Balance the budget to zero or as close to zero as feasible;
Implement a targeted hiring freeze until a comprehensive five-year financial forecast is
completed;
Engage an external financial consultant to assist in identifying opportunities to increase
revenues and reduce expenditures;
Explore ways to reduce Workers’ Compensation and Liability insurance costs, implement
safety wellness programs to reduce workplace injuries, and develop a comprehensive
labor model to define service level targets and staffing needs;
Evaluate options to increase sales tax revenue, including contributions from
unrepresented sectors such as auto dealerships;
Review planning and building fees to ensure all adjustments are considered;
Review Business License Tax being mindful that some of those are capped at a $3,000
amount in terms of invested income;
Determine whether we can recoup up to an additional $700,000 in interest income.;
Reassessing interest income protection to determine the feasibility of recovering up to
an additional $700,000;
Evaluate the Town’s fleet of over 80 vehicles and construction equipment for potential
liquidation and cost savings and consider leasing these vehicles for reduced ongoing
maintenance costs;
Evaluate the tiered budget reductions options to determine how much could be used to
achieve the goal of not using unassigned fund balances; and
Approve the use of 100% of the Measure G funds for operational expenses instead of
the 50/50 split between operations and capital.
MOTION: Motion by Chair Reiners to approve the set of Finance Commission
recommendations to Town Council (as summarized by the Town Manager).
Seconded by Commissioner Fischer
VOTE: Motion passed unanimously.
After further discussion, Town Manager Constantin summarized the Finance Commission
recommendation for the five-year forecast as follows:
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The Financing Commission recommends that the Town Council not accept the current five-year
forecast and wait until a consultant can come back with a more refined forecast for
recommendation.
MOTION: Motion by Commissioner Koen to approve the summary as read by the Town
Manager. Seconded by Vice Chair Monk
VOTE: Motion passed unanimously.
After additional discussion, Town Manager Constantin summarized the Finance Commission
recommendations regarding the Capital Improvement Program as follows:
Basing the Capital program on what is expected to be spent each year versus what is
authorized to expend;
For project 9901 Street Repair and Resurfacing, the Town should tie street repair and
resurfacing to a target Pavement Condition Index and the Town Council shall have a
conversation about what that target should be; and
For the Highway 17 bridge design project (818-0803), the Town Council should consider
stopping continued progress on that project and schedule further conversation and
determine how to best prioritize capital projects and funding in the future.
MOTION: Motion by Commissioner Koen to approve recommendations (summarized by
the Town Manager). Seconded by Commissioner Rodgers.
VOTE: Motion passed unanimously.
ADJOURNMENT:
The meeting adjourned at 8:35 p.m.
This is to certify that the foregoing is a true
and correct copy of the minutes of the
May 12, 2025, regular meeting as approved by the
Finance Commission.
/s/ Eric Lemon, Finance and Accounting Manager
Agenda
TOWN OF LOS GATOS
FINANCE COMMISSION AGENDA
MAY 12, 2025
110 EAST MAIN STREET
TOWN COUNCIL CHAMBERS
5:30 PM
Linda Reiners, Chair
Ashby Monk, Vice Chair
Adam Fischer, Commissioner
Phil Koen, Commissioner
Joseph Rodgers, Commissioner
Matthew Hudes, Mayor
Rob Moore, Vice Mayor
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 Zoom Webinar (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.
HOW TO PARTICIPATE
The public is welcome to provide oral comments in real-time during the meeting in three ways:
Zoom Webinar (Online): Join from a PC, Mac, iPad, iPhone or Android device. Please click this
URL to join: https://losgatosca-
gov.zoom.us/j/83324739120?pwd=ROVSrj37YUwahyFb4dlq2e3DLEo4W0.1
Passcode: 136033 You can also type in 833 2473 9120 in the “Join a Meeting” page on the
Zoom website at and use passcode 136033.
When the Mayor 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.
Telephone: Please dial (877) 3361839 for US Toll-free or (636) 651-0008 for US
Toll. (Conference code: 686100)
If you are participating by calling in, press #2 on your telephone keypad to raise your
hand.
In-Person: Please complete a “speaker’s card” located on the back of the chamber benches and
return it to the Town Clerk before the meeting or when the Chair announces the item for which
you wish to speak.
NOTES: Comments will be limited to three (3) minutes or less at the Chair’s discretion. 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). All comments
received will become part of the record.
Deadlines to submit written comments are:
- 11:00 a.m. the Thursday before the Commission meeting for inclusion in the agenda packet.
- 11:00 a.m. the Friday before the Commission meeting for inclusion in an addendum.
- 11:00 a.m. on the day of the Commission meeting for inclusion in a desk item.
Persons wishing to make a visual presentation on an item listed under Other Business, must
submit the presentation electronically to Clerk@losgatosca.gov no later than 3:00 p.m. on the
day of the Commission meeting.
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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 are considered routine Town business and may
be approved by one motion. Members of the public may provide input on any Consent Item(s)
when the Chair asks for public comment on the Consent Items.)
1. Approve the Minutes of the April 14, 2025, Finance Commission Regular Meeting
2. Approve the Minutes of the April 28, 2025, Finance Commission Special Meeting
3. Approve the Minutes of the May 5, 2025, Finance Commission Special Meeting
4. Receive the Monthly Financial and Investment Report for March 2025
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
Finance 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.)
5. Provide Recommendations to the Town Council Regarding the Proposed FY 2025-26
Operating and Capital Budgets, Including Budget Balancing Approaches
ADJOURNMENT
ADA NOTICE In compliance with the Americans with Disabilities Act, if you need special
assistance to participate in this meeting, please contact the Clerk’s Office at (408) 354-6834.
Notification at least two (2) business days prior to the meeting date will enable the Town to
make reasonable arrangements to ensure accessibility to this meeting [28 CFR §35.102-35.104].
NOTE: The ADA access ramp to the Town Council Chambers is under construction and will be
inaccessible through June 2025. Persons who require the use of that ramp to attend meetings
are requested to contact the Clerk’s Office at least two (2) business days prior to the meeting
date.
Materials related to an item on this agenda submitted to the Commission after initial
distribution of the agenda packets are available for public inspection in the Clerk’s Office at
Town Hall, 110 E. Main Street, Los Gatos and on Town’s website at www.losgatosca.gov.
Commission agendas and related materials can be viewed online at https://losgatos-
ca.municodemeetings.com/.
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