Finance Commission

TOWN OF LOS GATOS FINANCE COMMISSION AGENDA SEPTEMBER 08, 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 by following the instructions listed below or at the end of the agenda. To watch and participate via Zoom, please go to: https://losgatosca-gov.zoom.us/j/84834011781?pwd=rHVGvPbwjNaaM6U6ZB5AbaZUF1ToV9.1 Enter passcode: 998589 CALL MEETING TO ORDER ROLL CALL PRESENTATION i. Receive a Presentation Related to Commissioners’ Roles, Responsibilities, Meeting Procedures and Policies RECOMMENDATION: Receive a Presentation Related to Commissioners’ Roles, Responsibilities, Meeting Procedures and Policies. LIASION UPDATE - Verbal report on the status of the RFP for a Fiscal Condition Analysis, including a five year and long term forecast, fiscal impact analysis, and asset liability management study, as well as the timing of upcoming discussions by the Pension and OPEB Oversight Board and the Finance Commission regarding the pension and OPEB trusts. 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 August 11, 2025, Finance Commission Regular Meeting RECOMMENDATION: Approve the Minutes of the August 11, 2025, Finance Commission Regular Meeting. Page 1  2. Receive the Monthly Financial and Investment Report for July 2025 RECOMMENDATION: Receive the Monthly Financial and Investment Reports for July 2025. 3. Receive the California Employer’s Retiree Benefit Trust (CERBT) Strategy 1 Market Value Summary Report for the Period Ending June 30, 2025, and the Performance Report as of June 30, 2025 RECOMMENDATION: Receive California Employer’s Retiree Benefit Trust (CERBT) Strategy 1 Market Value Summary Report for the Period Ending June 30, 2025, and the Performance Report as of June 30, 2025. 4. Receive the California Employer’s Pension Prefunding Trust (CEPPT) Strategy Market Value Summary Report for the Period Ending June 30, 2025, and Performance as of June 30, 2025 RECOMMENDATION: Receive the California Employer’s Pension Prefunding Trust (CEPPT) Strategy 2 Market Value Summary Report for the period ending June 30, 2025, and performance as of June 30, 2025. 5. Receive the CalPERS Actuarial Valuation Reports as of June 30, 2024 RECOMMENDATION: Receive the CalPERS Actuarial Valuation Reports as of June 30, 2024. 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.) 6. Review and Recommend Updates to the Town’s General Fund Reserve Policy RECOMMENDATION: Review and recommend updates to the Town’s General Fund Reserve Policy for the Town Council’s consideration, incorporating best practices in fiscal policy, reserve management, and financial transparency. 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]. The ADA access ramp to the Town Council Chambers is under construction and will be inaccessible Page 2 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. NOTICE REGARDING SUPPLEMENTAL MATERIALS - 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/. 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/84834011781?pwd=rHVGvPbwjNaaM6U6ZB5AbaZUF1ToV9.1 Passcode: 998589 You can also type in 848 3401 1781 in the “Join a Meeting” page on the Zoom website at zoom.com and use passcode 998589. 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 1 (855) 758-1310 for US Toll-free or 1 (408) 961-3927 for US Toll. (Meeting ID: 848 3401 1781) If you are participating by calling in, press *9 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 business day 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. Page 3