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Financial Advisory Commission

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***** VACANCY *****

FINANCIAL ADVISORY COMMISSION

The City of La Quinta is looking for interested citizens to fill a vacancy on the Financial Advisory Commission (FAC) for an unexpired term ending June 30, 2022. Applicants must be a resident of La Quinta and a registered voter.

Please submit your application to the Clerk's Office. You will be contacted to confirm an interview date that will take place during an upcoming City Council Meeting once the date has been confirmed.  Applicants must be present for consideration.
For more information you may contact Tania Flores at (760) 777 - 7016.

For an Application to serve on the FAC, click here.

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The Investment Advisory Board (IAB) was established in 1993,  had a name change in 2017 to the Financial Advisory Commission (FAC), is coordinated by the Finance Department (760) 777-7150, and is comprised of seven members appointed by the City Council. The FAC meets on the second month of each quarter. The day and place of the FAC meetings for upcoming fiscal years is established at the last regularly scheduled meeting of each fiscal year. The principal functions of the FAC are: (1) review at least annually the city's investment policy and recommend appropriate changes; (2) review monthly treasury reports and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations; (3) receive and consider other reports provided by the city treasurer; (4) meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities; (5) review annually the revenue derived from the one percent (1%) transactions and use tax instituted by voters in November 2016 to ensure these funds are used to provide services, programs and capital projects in the City of La Quinta, and (6) serve as a resource for the city treasurer on matters such as proposed investments, internal controls, use of change of financial institutions, custodians, brokers and dealers. 

For more information about the FAC contact us at finance@laquintaca.gov or (760) 777-7150.

Applications are accepted all year long and kept on file in the Clerk's office until a vacancy needs to be filled. For an Application to serve on the FAC, click here.  For a current list of Commission Members, click here.

The Minutes for the FAC meetings will not be available until they have been approved at the next regular meeting.

The regular quarterly meeting agendas are typically available not less than 72 hours prior to each meeting and may be downloaded by clicking on one of the Event links below.  The City reserves the right to make changes to the order of items listed on the agenda.

For signed copies of staff reports, as well as any accompanying attachments, you may contact the Finance Department at (760) 777-7150 or finance@laquintaca.gov 


FOR AGENDAS FOR CURRENT MEETINGS, GO TO THE CALENDAR 

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Financial Advisory Commission Meeting

NOTE: The minutes linked in the agenda packet are considered draft minutes until approved by the Financial Advisory Commission.

CLICK HERE TO VIEW / PRINT THE AGENDA IN .PDF FORMAT

CLICK HERE TO VIEW / PRINT THE AGENDA PACKET IN .PDF FORMAT

 CLICK HERE TO VIEW MEETING HAND-OUTS

CLICK HERE TO TUNE-IN LIVE

CLICK HERE TO ACCESS THE VIDEO RECORDING OF THE FINANCIAL ADVISORY COMMISSION

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SPECIAL NOTICE
Teleconferencing and Telephonic Accessibility In Effect

Pursuant to Executive Orders N-25-20, N-29-20, N-33-20, and N-35-20, executed by the Governor of California in response to the state of emergency relating to novel coronavirus disease 2019 (COVID-19) and enabling teleconferencing accommodations by suspending or waiving specified provisions in the Ralph M. Brown Act (Government Code § 54950 et seq.), members of the Financial Advisory Commission, the City Manager, City Attorney, City Staff, and City Consultants may participate in this meeting by teleconference. Additionally, pursuant to the above-referenced executive orders, the public is not permitted to physically attend at City Hall the meeting to which this agenda applies, but any member of the public may listen or participate in the open session of this meeting as specified below.

Members of the public wanting to listen to the open session of this meeting may do so by tuning-in live via https://laquinta.12milesout.com/video/live

Members of the public wanting to address the Financial Advisory Commission during the meeting, either for public comment or for a specific agenda item, or both, are requested to send an email notification to the La Quinta Finance Department at jdelgado@LaQuintaCA.gov, and specify the following information:

1) Full Name; 2) City of Residence; 3) Phone Number; 4) Public Comment or Agenda Item Number; 5) Subject; 6) Written or Verbal Comments

The email “subject line” must clearly state “Written Comments” or “Verbal Comments.”


Verbal public comments – requests to speak must be emailed to the Finance Management Assistant, Jessica Delgado, no later than 3:00 p.m. on the day of the meeting; the City will facilitate the ability for a member of the public to be audible to the Financial Advisory Commission and general public for the item(s) by contacting him/her via phone and queuing him/her to speak during the discussion. 

Only one person at a time may speak by telephone and only after being recognized by the Chair.

Written public comments, received prior to the adjournment of the meeting, will be distributed to the Financial Advisory Commission, incorporated into the agenda packet and public record of the meeting, and will not be read during the meeting unless, upon the request of the Chair, a brief summary of any public comment is asked to be read, to the extend the Finance Management Assistant can accommodate such request.

It would be appreciated that any email communications for public comments related to the items on the agenda, or for general public comment, are provided to the Finance Department at the email address listed above prior to the commencement of the meeting.  If that is not possible, and to accommodate public comments on items that may be added to the agenda after its initial posting or items that are on the agenda, every effort will be made to attempt to review emails received by the Finance Department during the course of the meeting. The Chair will endeavor to take a brief pause before action is taken on any agenda item to allow the Management Assistant to review emails and share any public comments received during the meeting. All emails received by the Management Assistant, at the email address above, until the adjournment of the meeting, will be included within the public record relating to the meeting.

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