Finance Committee

Special Meeting of the Finance Committee City Hall – Large Conference Room 425 N. Richardson Thursday, February 13, 2023 Notice of this meeting was given to the public in compliance with Sections 10-15-1 through 10-15-4 NMSA 1978 and Resolution 23-01. ROLL CALL The meeting convened at 3:00 p.m. with Chairman Corn presiding; Councilor Heldenbrand, and Councilor Perry were present, and Councilor Foster was absent. Staff present: Juan Fuentes, Mike Mathews, Juanita Jennings, Janie Davies, Chanel Rey, Hess Yntema, Renee Trujillo, Colette Hall, Justin Jones, Lorenzo Sanchez, Debbie Reyer, Jim Burress, Amalia Martinez, Della Andazola, Alex Diaz, Christopher J. Nairn- Mahan, Becky Hicks, Abraham Chaparro, Jennifer Greigo, John Wright, and Todd Wildermuth via GoToMeeting. Guests present: Mayor Tim Jennings, Councilor Juliana Halvorson, Councilor Cristina Arnold, Rita Kane-Doerhoefer, Vicki Burress via GoToMeeting, Joe Seskey, Chris Garner, CPA via GoToMeeting, Terry Harber (Roswell Daily Record), and Kevin Dillon via GoToMeeting. APPROVAL OF THE AGENDA Councilor Heldenbrand moved to approve February 13, 2023, Special Finance Committee meeting agenda. Councilor Perry was the second. A voice vote was as follows: Councilor Corn-yes, Councilor Perry-yes, Councilor Heldenbrand-yes, and the motion passed 3-0, with Councilor Barry Foster being absent. NON-ACTION ITEMS 1. Presentation on the Financial Audit for Fiscal Year Ending June 30, 2022: Ms. Davies presented information on the audit and introduced the auditor, Chris Garner, CPA. Mr. Garner took the Councilors through the audit process and the audit findings. Councilor Heldenbrand stated to finance to ensure all findings are fixed. No action was taken. 2. Presentation on the FY 2023 Mid-Year Financial Report: Ms. Davies presented the Mid-Year Financial Report. Provided Balance Sheets and Income Statements for all City funds to include Revenue Summary and Expenditure Summary in the Fund Balance section and the difference in those two numbers is the net income or net loss by fund for the FY23 mid-year review. 3. Review of Convention Center Profit & Loss Report – Justin Jones and Juanita Jennings Presented the Profit & Loss Report. The Roswell Convention Center gave detailed information on the costs of Food and Beverage as well as other expenses associated with each event held at the Roswell Convention Center. No Action was taken.  FOR THE RECORD: Councilor Foster Arrived at 5:21 p.m. ACTION ITEMS 4. Resolution 23-XX - Consider approval of Resolution 23-XX approving the Fiscal Year 2022 Audit and Corrective Action Plan: Present by Janie Davies. The City of Roswell received authorization to release the Fiscal Year 2022 Audit Report on December 20, 2022. The state of New Mexico Audit Rule (NMAC 2.2.2.10(M)(4) requires the final audit report to be presented to the governing authority of an agency at a meeting held in accordance with the Open Meetings Act. The New Mexico Department of Finance and Administration (DFA) requires the Governing Body to approve a resolution showing acceptance and approval of the FY2022 Audit. In addition, DFA requires a corrective action plan on the findings presented in the audit report. Councilor Perry moved to send Resolution 23-XX approving the Fiscal year 2022 to the full City Council on the consent agenda. Councilor Heldenbrand was the second. A voice vote was as follows: Councilor Corn-yes, Councilor Perry-yes, Councilor Heldenbrand-yes, and Councilor Foster the motion passed 4-0. FOR THE RECORD: Councilor Perry left the meeting 5:22 p.m. and joined via GoToMeeting at 5:26 p.m. PUBLIC PARTICIPATION No Public Participation. ADJOURN The meeting adjourned at 5:43 p.m.