DRAFT MINUTES REGULAR MEETING September 12, 2024 RANCHO PALOS VERDES FINANCE ADVISORY COMMITTEE CALL TO ORDER: A regular meeting of Rancho Palos Verdes Finance Advisory Committee was called to This meeting took place in-person and remotely in accordance with the requirements of the Ralph M. Brown Act, Section 54950 et seq. of the Government Code. Remote participation by any Committee member shall be in accordance with subdivisions (b)(3) of (f) of Government Code Section 54953. Members of the public could observe and participate using the Zoom participation feature. Instructions on how to view and participate were included in the agenda package posted online at order by Chair George Lewis at 7:09 p.m. tplipvcagoupancpas Finance Advisory Committee roll call was answered as follows: PRESENT: Chair George Lewis, Vice Chair John MacAllister, Member Willie Wang, ABSENT: Member Krista Johnson, Member Emily Colville, Member Becky Clark Also present was Vina Ramos (Director of Finance), Jason Loya (Senior Administrative Member Dr. Paul Weber Analyst of Finance) and Rudy Carbajal (Accounting Clerk). PLEDGE OF ALLEGIANCE: The Pledge of Allegiance was led by Member Dr. Paul Weber. CHAIR'S ANNOUNCEMENIS: None. APPROVAL OF THE AGENDA: Motion approved by acclamation. PUBLIC COMMENTS: Vice Chair MacAllister moved to approve the agenda. Seconded by Member Dr. Weber. None. Finance Advisory Committee September 12, 2024 Page 1of3 REGULAR BUSINESS: 1. Approval of the Minutes from the meeting on May 30, 2024 and August 8, 2024. Approval of the minutes will be deferred. meeting on Thursday, October 10, 2024. May 30, 2024, and. August 8, 2024 minutes to be approved at the next FAC 2. Consideration and possible action to discuss revisiting the City Council Chair Lewis yielded the floor to Director Vina Ramos for presentation. Discussion ensued between Committee Members and City Staff. FAC requested for staff to review the Debt Policy to identify areas for improvement and clarification, incorporating lessons learned from the Ladera Linda project, and to develop suggestions for FAC's consideration in November. 3. Consideration and possible action to receive a presentation of the Treasury Chair Lewis yielded the floor to Senior Administrative Analyst Jason Loya for presentation. Discussion ensued between Committee Members and City Staff. Vice Chair MacAllister moved to receive and file. Seconded by Member Wang. Policy No. 52, Debt Management Policy. Report. FUTURE AGENDA ITEMS: Vice Chair MacAllister would like to revisit the pension topic for future discussion and an update and presentation on the unfunded liability and the ad hoc sub-committee. FAC requested staff to research and report on a survey of existing policies in surrounding municipalities related to City-issued loans. FINANCE ADVISORY COMMITTEE ORAL REPORTS: Vice Chair MacAllister gave an update on the UAL ad hoc subcommittee. The sub committee will have another discussion in October. Vice Chair MacAllister thanked Senior Administrative Analyst Loya for his work with the project. Finance. Advisory Committee September 12, 2024 Page 2 of3 STAFF LIAISON REPORT: Director Ramos provided FAC with an update on the Portuguese landslide area, including the Ladera Linda information center for affected residents. Director Ramos also reported that the development impact fees report was submitted to the City Council on September 3, 2024, and approved FAC's recommendations to issue request for proposals. ADJOURNMENT acclamation. At 8:02 p.m., Member Wang moved to adjourn the meeting until the next regular meeting on October 10, 2024. Seconded by Member Dr. Weber. Motion approved by Is/G 'Chair 1 Attest: /s/ Rudy Carbajal FAC Liaison rh Finance Advisory Committee September 12, 2024 Page 3of3