Oct 09, 2025 Budget & Finance Commission

[00:00:05]

FINANCE COMMISSION. REDONDO BEACH. CAN WE

[A. CALL MEETING TO ORDER]

HERE HERE. COMMISSIONER RAMCHARAN ABSENT. COMMISSIONER WOODHAM.

ABSENT. COMMISSIONER TURNER. HERE. CHAIR ALLEN.

HERE. OH, SO DO I NEED TO START OVER AGAIN? BECAUSE MY BEGINNING [LAUGHTER] DID NOT RECORD. OKAY. YOU'RE OKAY, GO AHEAD IT'S RIGHT BEHIND YOU. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA.

AND TO THE REPUBLIC FOR WHICH IT STANDS. ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL.

THANK YOU MAY BE SEATED. NEXT ITEM ON THE LIST.

[D. APPROVE ORDER OF AGENDA]

NEXT ITEM. BLUE FOLDER ITEMS, ADDITIONAL BACKUP MATERIALS.

DO WE HAVE ANY BLUE FOLDER ITEMS? WE DO NOT HAVE ANY BLUE FOLDER ITEMS FOR TODAY.

THANK YOU. WE'LL MOVE TO F. CONSENT CALENDAR.

[F. CONSENT CALENDAR]

SO FOR THE MINUTES IT SAYS REGULAR MEETING OF THE REDONDO BEACH PUBLIC SAFETY COMMISSION.

SO IF YOU WANT TO APPROVE WITH THAT CORRECTION, WE CAN PROBABLY DO THAT.

I HAVE NOT REVIEWED BECAUSE WELL, I WAS NOT HERE LAST TIME, SO I'M GOING TO ABSTAIN AND THEN YOU'LL BE ABSTAINING TOO.

SO THREE OF YOU MOTION TO APPROVE. SECOND? SECOND. ALL IN FAVOR? AYE. OH, YOU KNOW? WE PROBABLY WANT TO DO A ROLL CALL VOTE ON THIS ONE, BECAUSE THERE ARE A COUPLE OF PEOPLE WHO ARE NOT GOING TO.

YEAH, LET'S DO THAT. THAT'S FINE. CAN WE HAVE ROLL CALL, PLEASE? YES. COMMISSIONER MARIN. AYE. COMMISSIONER JESTE.

AYE. COMMISSIONER SHERBIN. HERE. COMMISSIONER RAMCHARAN ABSENT.

COMMISSIONER WOODHAM ABSENT. COMMISSIONER TURNER.

HERE. CHAIR ALLEN. I'M GOING TO ABSTAIN BECAUSE I WAS NOT HERE.

I CAN'T APPROVE, AND I WAS NOT HERE. ALL RIGHT WITH WHERE CALENDAR ITEMS. ARE THERE ANY EXCLUDED? I DON'T THINK THERE ARE.

IS THERE PUBLIC PARTICIPATION ON NON-AGENDA ITEMS?

[H. PUBLIC PARTICIPATION ON NON-AGENDA ITEMS]

IS THAT CORRECT? CONGRATULATIONS.

BECAUSE BUDGET AND FINANCE IS A KEY CONCERN OF THE CITY.

THE PRIOR COMMISSION'S AGENDA. WHEN I SAY PRIOR COMMISSIONERS, I WAS UNDER THE IMPRESSION THAT YOU'RE GOING TO HAVE A NEW CHAIR AND THAT THAT'S WHAT THE AGENDA SAID, BUT MAYBE NOT. ANYWAY THE AGENDA PRIOR AGENDA HAD TWO ITEMS I RECOMMEND PUTTING BACK ON.

ONE WAS DETERMINING AND ANALYZING THE FINANCING AND COSTS OF THE AWARD WINNING HOMELESS PROGRAM.

YOUR PREDECESSORS ASKED AND AGAIN, EXCUSE THE LANGUAGE.

ASKED THE FINANCE DIRECTOR FOR THIS, BUT THE REPORT CAME AS THEY WERE WINDING UP THEIR TENURE.

DISCUSSED IT LAST TUESDAY NIGHT'S COUNCIL MEETING WAS THE IMPORTANCE OF MAKING SURE HOMELESS PROGRAM IS SUSTAINED.

THE MAYOR STATED, IT BEHOOVES US TO GET A SOURCES AND USES OF FUNDS SO WE CAN UNDERSTAND WHERE WE ARE.

AND I'M SURE YOU ALL AGREE. THE GENERAL FUND CAN'T SUPPORT THE PROGRAM ALONE.

[00:05:01]

EACH GRANT REQUEST MUST BE REPORTED WITH ITS OWN ASSOCIATED EXPENDITURES.

THE PRIOR COMMISSION, EXCUSE ME, AGAIN ACCEPTED THE SPREADSHEET TEMPLATE I DESIGNED FOR THAT PURPOSE, WHICH I AM SUBMITTING YOU, TO YOU AGAIN FOR RECEIVE AND FILE.

THE ADMINISTRATIVE REPORT IN THE COUNCIL AGENDA PACKET GAVE A CLUE TO A PROBLEM AND AN OPPORTUNITY.

IT WAS IN A FOOTNOTE. IT SAID IT SHOULD BE NOTED THAT THERE IS A SUBSTANTIAL AMOUNT OF UNACCOUNTED STAFF TIME DEDICATED TO THE ADMINISTRATION OF THE CITY'S HOMELESS PROGRAMS. STAFF IS NEARLY, IN NEARLY EVERY CITY DEPARTMENT IS INVOLVED IN THE CITY'S PROGRAM EFFORTS.

IF THESE HOURS CAN BE IDENTIFIED, THEN ADDITIONAL GRANT MONEY MAY BE AVAILABLE TO COVER THEM.

SO I APPEAL TO YOU TO PUT THIS HOMELESS PROJECT BACK ON THE AGENDA.

THE SECOND AGENDA ITEM WAS TO REVIEW AND ANALYZE PROCUREMENT OF PROFESSIONAL SERVICES.

THE COSTS ARE SIGNIFICANT ABOUT 10% TO 12% OF THE TOTAL.

THE FINANCE DIRECTOR GAVE ME THE CITY'S CURRENT PROCUREMENT PROCEDURES.

THEY ARE DATED 2011. THEY MAY NEED AN UPDATE.

THE MUNICIPAL CODE, FOR EXAMPLE, EXCLUDES PROFESSIONAL SERVICES FROM COMPETITIVE BIDDING.

BUT ISN'T THE INTENT ONLY FOR SERVICES TRULY UNIQUE? FOR EXAMPLE, THERE ARE ATTORNEYS WHO ARE SO SKILLED AND SPECIALIZED AT A CERTAIN TYPE OF MATTER THAT THEY ARE TRULY A SOLE SOURCE.

BUT THERE ARE OTHER SERVICES THAT ARE MUNDANE.

BOTH ARE PROFESSIONALS. BUT SHOULD THEY BE TREATED AS SO UNIQUE THAT THEY DON'T HAVE COMPETITION TO GET THEM? THE PROCUREMENT HABITS SEEM TO BE COSTING THE CITY SIGNIFICANT AMOUNTS OF MONEY.

THEY COULD BETTER BE BETTER USED FOR OTHER PURPOSES, SO I RECOMMEND BOTH ITEMS BE USED, BE RESTORED TO THE AGENDA.

AND IF YOU WISH, COULD YOU RECEIVE AND FILE THE SPREADSHEET THAT I SUBMITTED BEFORE? BUT I'D BE HAPPY TO SUBMIT IT. THANK YOU, WE CAN DISCUSS TO PUTTING THESE ON THE AGENDA WHEN WE GET TO ITEM K. OKAY, THANK YOU. ITEM H.1. ARE THERE ANY ECOMMENTS OR EMAILS RECEIVED FROM THE PUBLIC? THERE ARE NO ECOMMENTS AND THERE ARE NO PARTICIPANTS ON ZOOM.

OKAY, NEXT WOULD BE MIC]. ALL RIGHT NEXT ITEM IS ITEM I.1. RESERVES BUDGET CONCERNS.

[I. ITEMS CONTINUED FROM PREVIOUS AGENDAS]

I HAD SENT A LETTER TO THE MAYOR LIGHT AND I MENTIONED THAT THE DEFICIT IN THE BUDGET AND THE USE OF PENSION FUNDS TO FINANCE THE BUDGET IS ONE OF THE MOST IRRESPONSIBLE THINGS THAT WE CAN DO.

AND I THINK THAT IS SOMETHING THAT NEEDS TO BE ADDRESSED.

THE MAYOR, HE IN HIS RESPONSE, HE DID NOT ADDRESS THAT ISSUE.

AND I THINK IT IS EXTREMELY CRITICAL THAT UNTIL NOW WE HAD ALWAYS BALANCED THE BUDGET.

AT THIS TIME, WE HAVE A HUGE DEFICIT AND THERE ARE MANY ITEMS IN THE CAPITAL IMPROVEMENT THAT COULD BE DELAYED UNTIL WE GET WE HAVE ENOUGH REVENUES.

BUT THAT WAS NOT DONE. EVERYTHING HAS BEEN INCLUDED.

SO THE ITEMS ON THE WISH LIST ARE ALSO PART OF THE BUDGET, AND IT SEEMS THAT THERE IS NOT AS MUCH CONCERN FOR THE DEFICIT, AND THE WAY IT IS FINANCED IS CERTAINLY NOT THE RIGHT WAY TO DO IT.

SO I'VE EXPRESSED MY CONCERNS AND MY OBJECTION TO IT, AND I HAVEN'T GOTTEN ANY FEEDBACK, EITHER FROM THE MAYOR OR THE CITY

[00:10:08]

DO WE? JUST PARDON ME, JUST ON THE MECHANICS, DO WE NEED TO COMPOSE A LETTER AGAIN INQUIRING ABOUT THE QUESTIONS THAT YOU ROSE? ARE YOU? YOU DREW FROM YOUR IN YOUR PRIOR LETTER? WELL, THAT LETTER WAS WRITTEN AS A PRIVATE CITIZEN, AS A TAXPAYER, NOT AS A COMMISSIONER.

BUT I DID MENTION THAT THIS IS COMING FROM ME AS A TAXPAYER.

HOWEVER, I AM ON THE BUDGET AND FINANCE COMMISSION, SO THAT WAY IT'S NOT A SURPRISE FOR HIM.

WHAT'S YOUR POINT? DO WE WANT TO AGENDIZE THIS FOR THE NEXT MEETING AND INVITE THE CITY MANAGER TO I GUESS BECAUSE, AGAIN, THE LAST TIME I SAW THE BUDGET, IT WAS BALANCED. SO I'M NOT SURE HOW BIG THE DEFICIT HAS GOTTEN OR WHAT ADDITIONAL CIP PROJECTS GOT ADDED. YEAH I THINK THE DEFICIT THAT YOU'RE REFERRING TO IS THAT TO BALANCE THE BUDGET THIS YEAR, WHICH THE BUDGET IS BALANCED, THE CITY MANAGER RECOMMENDED AND COUNCIL APPROVED MAKING A ONE-TIME USE OF OUR CALPERS RESERVE FUNDS.

THIS IS A RESERVE FUND THAT THE CITY HAD SET ASIDE SPECIFICALLY FOR THIS PURPOSE.

SO WE RECOGNIZE THAT THE CITY PAID OFF ITS PENSION DEBT IN 2021.

WE RECOGNIZE THAT WE'RE GOING TO BE PENSION BILLS DUE IN THE FUTURE.

AND WHEN WE HAD SOME ONE TIME FUNDS, COUNCIL VOTED TO PUT THOSE ASIDE.

AND THOSE THAT'S WHAT MADE UP OUR CALPERS RESERVE FUND.

SO WHEN WE'RE LOOKING AT THE BUDGET THIS YEAR WHAT THE CITY MANAGER HAS SAID AND SAID TO THIS COMMISSION IS WE CONSIDER THIS SOMEWHAT OF A BRIDGE YEAR.

AGAIN, WE WERE ABLE TO FUND PART OF THAT $3.5, APPROXIMATELY $3.5 MILLION PAYMENT JUST WITH ONGOING REVENUES.

WE DID PULL SOME FUNDS FROM THE CALPERS RESERVE FUND TO BALANCE THAT, TO MAKE UP FOR OUR ONGOING REVENUES.

AND THE THE FEW ITEMS THAT HE MENTIONED ARE ONE ARE TRANSIENT OCCUPANCY TAX.

THIS IS BELOW WHERE WE'D EXPECT IT TO BE, PRIMARILY DUE TO OUR HOTEL PROPERTIES THAT WE HAVE OUR TAX ASSESSED TAX PLEDGE WITH.

SO WE'RE NOT RECEIVING TOT FROM THOSE PROPERTIES AT THE MOMENT.

WE DO ANTICIPATE RECEIVING THOSE IN THE FUTURE.

SO THAT'S KIND OF TEMPORARY DROP IN OUR REVENUES.

AND WE'VE ALSO IN THE PAST, I GUESS, 22, 23, 24 HAVE BEEN ABLE TO DO SOME CAPITAL SPENDING THAT WAS LONG DELAYED. SO WE'RE KIND OF SEEING THIS AS A BALANCING OUT.

WE HAVE CHALLENGES WITH TRANSIENT OCCUPANCY TAX.

WE MAY SEE SOME FLATTENING IN OUR SALES TAX. AND FOR THIS REASON WE, CITY MANAGER RECOMMENDS THIS IS A ONE TIME USE OF FUNDS.

HE IS VERY AWARE, I'M VERY AWARE, THE CITY COUNCIL IS VERY AWARE THAT THIS IS NOT A SUSTAINABLE SITUATION.

WE DO NOT WANT TO BE HERE IN 20 FOR THE 26-27 BUDGET.

AGAIN PULLING INTO OUR CALPERS RESERVE FUND. SO CITY MANAGER AND I ARE LOOKING AT THIS VERY CLOSELY.

IF IF, YOU KNOW, REVENUES ARE NOT TRENDING WELL, IF CERTAIN THINGS AREN'T COMING OUT AS ANTICIPATED, WE MAY BE COMING WITH RECOMMENDATIONS TO COUNCIL TO PULL BACK ON SOME ITEMS. YOU KNOW, TO ADDRESS THE CONCERN THAT YOU'RE MENTIONING. SO I'LL JUST SAY FOR THE CITY MANAGER AND MYSELF, I DON'T THINK THAT USING THOSE FUNDS THIS YEAR IS A DECISION THAT HE TOOK LIGHTLY.

HE'S VERY AWARE OF THE ISSUES. I THINK ABOUT THE ISSUES DAILY.

SO, YOU KNOW, ANY SPECIFIC QUESTIONS I'M HAPPY TO ANSWER? MIKE IS HAPPY TO ANSWER. I DON'T KNOW THAT HE NEEDS TO COME AND APPEAR.

I THINK WE CAN, YOU KNOW, PROBABLY WORK THAT OUT AS FAR AS WRITING A LETTER TO COUNCIL, BUT THAT'S UP TO THE COMMISSION TO DECIDE.

[00:15:01]

BUT, YOU KNOW, IF YOU WANT TO EXPRESS THOSE CONCERNS AGAIN, SPECIFICALLY FROM THE COMMISSION TO THE COUNCIL, THAT IS DEFINITELY AN OPTION. I DON'T KNOW IF I ANSWERED ALL THE QUESTIONS.

WELL, AWARENESS AND ACTION ARE TWO COMPLETELY DIFFERENT THINGS.

I'M SORRY? ACTIONS WE'RE CONCERNED WE DON'T LIKE IT. AND YOU GO AHEAD AND DO IT ANYWAY.

THAT'S NOT RESPONSIBLE. SO I'LL JUST SAY THAT THE TIME THAT WE WOULD MAKE ACTIONS ON THIS WOULD BE THE NEXT, THE NEXT TIME WOULD BE IN OUR MID-YEAR REVIEW.

OUR MID-YEAR BUDGET REVIEW. SO AT THAT POINT WE LOOK AT WHERE REVENUES ARE. WE LOOK AT WHERE SPENDING IS. AND THEN THE CITY MANAGER WILL RECOMMEND TO COUNCIL MAKE SOME CUTS OR WE'RE DOING FINE, SET MONEY ASIDE. SO THAT'S WHERE YOU'LL SEE ACTION IS WHEN WE'RE ACTUALLY TAKING ACTION ON THE BUDGET.

IN THE REPORT THAT EASY READER HAD ON THE COUNCIL MEETING IT MENTIONED SEVERAL ITEMS, COUNCILWOMAN PAIGE HAD MENTIONED THAT THERE COULD BE DEFERRED AND EVEN THEN SHE WENT AHEAD AND VOTED UNANIMOUSLY TO APPROVE THE BUDGET. SO THOSE ARE THE ITEMS THAT I WAS HOPING SOMEBODY ELSE WOULD AT LEAST TAKE A SERIOUS LOOK AT IT AND SEE IF WE NEED TO SPEND THE MONEY. IF WE DON'T HAVE MONEY, YOU DON'T SPEND IT.

AS SIMPLE AS THAT AND WE'RE NOT DOING IT. WE'RE JUST DIPPING INTO PENSION RESERVES.

THAT'S THE LEAST DESIRABLE OPTION. AND WE SHOULD NOT EVEN THINK ABOUT IT.

BUT WE'RE DOING IT ANYWAY SO. WELL AND AGAIN, THAT'S THE COUNCIL MEMBERS DECISION.

YOU KNOW? THAT'S WE PROPOSE THE CITY MANAGER PROPOSES THE BUDGET AND THE COUNCIL MEMBERS REVIEW, AND THEY MAKE THE DECISIONS ON WHERE TO USE THE CITY'S RESOURCES.

SO WHAT IS OUR RESPONSIBILITY HERE? WHAT ARE WE SUPPOSED TO DO? SIMPLY JUST WELL, NO, I'M NOT TELLING YOU TO NOT DO ANYTHING. YOUR RESPONSIBILITY, ACCORDING TO THE YOU KNOW, ACCORDING TO YOUR CHARTER, IS TO TRACK REVENUES AND EXPENSES AND ADVISE THE CITY COUNCIL.

SO I THINK IT IS 100% IN YOUR IN YOUR ROLE TO BE CONCERNED ABOUT THESE THINGS, TO REVIEW THEM AND TO TELL AND TO ADVISE CITY COUNCIL ACCORDINGLY. JUST A QUICK ONE. COULD WE ASK THE FINANCE DEPARTMENT TO UPDATE US A LITTLE BIT MORE ON A CURRENT BASIS, RATHER THAN WAITING FOR THE HALF YEAR? YES. WITH RESPECT TO THOSE TRENDS THAT WE'RE CONCERNED ABOUT? YES. WERE YOU ANTICIPATED THE REVENUE LEVEL TO BE WHERE IT IS? AND THEN THAT COULD BE A DRIVER FOR US TO INDICATE TO THE COUNCIL THAT WE REALLY NEED TO TAKE SOME ACTION ON SOME OF THESE ITEMS THAT ARE ARBITRARY LET'S SAY. THAT THAT'S A GREAT IDEA.

THAT'S EXACTLY WHAT OTHER OTHER CITIES DO. BUT THEY, BUT WHAT WHAT'S IMPORTANT BECAUSE LAST BUDGET THAT WE SAW IT DIDN'T IT WAS VERY HIGH LEVEL. SO WE COULDN'T REALLY ANALYZE IT.

SO IT'S IMPORTANT THAT WE HAVE DETAILED. SO WHEN WE MAKE A MOTION AND WHAT WE'RE GOING TO ASK, IT'S IMPORTANT TO SOME OF THE REVENUES, LIKE THE TRANSIT OCCUPANCY BECAUSE I THINK NO ONE REALLY KNOWS WHERE WE'RE HEADING ON SOME OF THOSE THINGS.

I AGREE UNPREDICTABLE. THEY'RE UNPREDICTABLE. IT'S VERY UNPREDICTABLE.

PERHAPS WE COULD WE COULD INCREASE THE FREQUENCY THAT THAT'S REVIEWED.

AND MAYBE THAT'S SOMETHING THAT FINANCE COULD PROVIDE TO THE COUNCIL, PARDON ME TO THE COMMISSION.

AND THEN THAT WOULD BE A DRIVER FOR US TO KNOW WHAT OUR NEXT STEP WOULD BE.

SO YOU'LL HAVE A GOOD OPPORTUNITY TO DO THAT WHEN WE BRING YOU THE FINAL REPORT OF 24-25, WHICH IS GOING TO TELL US A LOT.

I DON'T HAVE THOSE NUMBERS FOR YOU YET BECAUSE WE'RE WORKING ON SOME ISSUES WITH RECONCILIATION.

WE WANT TO MAKE SURE OUR NUMBERS ARE ACCURATE FOR YOU. BUT THAT WILL BE THAT WILL BE A REALLY GOOD.

THAT'LL BE A REALLY GOOD OPPORTUNITY FOR YOU TO TAKE A LOOK AT THAT.

AND AT THAT POINT, WE'LL HAVE OUR FIRST FEW MONTHS OF THIS FISCAL YEAR AS WELL.

WHEN DO YOU ANTICIPATE HAVING THOSE NUMBERS KIND OF PUT TOGETHER? WILL THAT BE AT THE NEXT MEETING OR? YES. OKAY.

YEAH. THE FIRST QUARTER IS ALREADY OVER BY THE TIME WE MEET NEXT MONTH.

THE ONE THIRD OF THE YEAR WILL BE GONE. SO IT MIGHT BE A GOOD IDEA TO REVIEW THE STATUS AT YES SO YES, IT WILL BE THE QUARTERLY REPORT. NEXT QUARTERLY REPORT IS GOING TO COMPARE WHAT? SO. WHERE WAS THE PREVIOUS YEAR? EXACTLY. AND THEN WHAT WE HAVE REMAINING.

[00:20:03]

AND THAT WOULD TRACK CLOSELY WITH WHAT WE ANTICIPATE, AT LEAST IN PERCENTAGE TERMS OF SEEING AT THAT POINT IN THE YEAR.

SO WHEN YOU SAY PRIOR QUARTER, YOU MEAN THE I MEAN THE SAME QUARTER IN THE PRIOR FISCAL YEAR.

OKAY. AND THAT TAKES INTO CONSIDERATION THE SEASONALITY OF THE PARTICULAR.

EXACTLY. BECAUSE IF YOU JUST LOOK AT THE PERCENTAGE RECEIVED AND DIVIDE BY 12, IT'S.

THAT DOESN'T WORK FOR SOME COMMISSIONER JESTE, I THINK IF WE RECEIVE THOSE REPORTS ON QUARTERLY BASIS, WE'LL BE ABLE TO TRACK.

SO BY THE TIME THEY GET TO THE BUDGET POINT, WE'LL BE ABLE TO SEE IF THEY'RE GOING TO GO AND DIG MORE INTO THE RESERVES OR NOT. RIGHT? I WOULD LIKE TO PROPOSE THAT WE GO ON RECORD AS HAVING EXPRESSED OUR CONCERN AND ASKING FOR A STATUS UPDATE EVERY QUARTER, IF NOT EVERY MONTH.

SO OUR MOTION WILL BE EXACTLY THAT THEN. WELL, BUT IT WILL MAKE A MOTION THAT WE RECEIVE QUARTERLY REPORTS AND WHICH WILL COMPARE TO THE PREVIOUS YEAR'S QUARTER AND ALSO WE'LL HAVE A COLUMN THAT HAS THE TOTAL? AND ACTUAL YES UNILATERALLY TO CHANGE IT, WHICH TURNS OUT WAS NOT A GREAT IDEA. SO I CAN SHARE WITH YOU THE PREVIOUS VERSION WITH THE GREATER LEVEL OF DETAIL AND GIVE YOU THE OPPORTUNITY TO ASK FOR ADDITIONAL, LESS DIFFERENT.

I THINK IT HAS A LITTLE SOME REPETITION IN THERE, BUT I CAN SHARE THAT WITH YOU AND YOU CAN LET ME KNOW IF THAT MEETS WHAT YOU'RE LOOKING FOR. I THINK INDIVIDUAL DEPARTMENTS. YES SO I DID REMOVE SO COMBINE THOSE TWO TOGETHER. EXACTLY. OKAY. WILL THAT WORK? YEAH WELL, LET'S GIVE IT A TRY BUT WE CAN START TRACKING THE FUTURE, RIGHT? YEAH.

OKAY. DID YOU I'M SORRY I DIDN'T MEAN TO INTERRUPT.

DID YOU WANT TO SHARE THE LETTER THAT YOU WROTE TO THE MAYOR AND THE MAYOR'S LETTER BACK? YEAH, I THINK WE CAN OH, DO YOU WANT TO DO NOW? DO YOU WANT TO SHARE IT NOW? IT'S IT WAS ATTACHED. I'M JUST ASKING. YEAH I DON'T KNOW IF YOU HAVE THE COPY.

THEY CAN PUT IT ON THE, IT WAS ATTACHED. THEY CAN PUT IT ON THE SCREEN.

CAN YOU PUT THE LETTER ON THE SCREEN? IT'S. IF YOU PUT IT ON MY SCREEN, I'VE PULLED IT UP.

IT'S. THANK YOU IT'S ON THE AGENDA.

AND AS A COMMISSION WE WROTE A LETTER TO COUNCIL SO THEY ALSO HAVE THAT AND I MET WITH THE MAYOR.

IT'S PAGE ONE. SO I THINK WE HAVE DONE AT THIS POINT, WE HAVE DONE ALL WE CAN AND IF WE ASK TO HAVE QUARTERLY PERIODIC UPDATES, I MEAN, I DON'T I DON'T KNOW WHAT ELSE THE COMMISSION CAN DO.

WHERE'S PAGE ONE? I SEE PAGE TWO HERE. OKAY YEAH OKAY. IF WE WANT TO GO THROUGH THAT, THAT'S.

THAT'S UP TO YOU IT'S YOUR LETTER. WHATEVER YOU WOULD LIKE.

WELL, BASICALLY, IT SAYS THE SAME THING THAT I HAVE JUST TALKED ABOUT.

AND I MENTIONED FIVE POINTS ON PAGE TWO. THOSE, IN MY OPINION, ARE THE HIGHEST PRIORITIES.

BALANCE THE BUDGET, CAPITAL IMPROVEMENT PROJECTS, NO TRANSPARENCY OR ACCOUNTABILITY.

AND I THINK SINCE THEN, STEPHANIE HAS GIVEN US A PRETTY DETAILED SPREADSHEET, AND I APPRECIATE YOUR HELP AND YOUR EFFORTS IN GENERATING. IT TOOK US ALMOST TWO YEARS TO GET THAT.

AND I DID SOME ROUGH ANALYSIS, AND I HAVE SOME QUESTIONS.

AND STEPHANIE POINTED OUT TO ME THAT THAT'S NOT ON THE AGENDA THIS TIME.

MAYBE WE CAN DISCUSS IT NEXT TIME. BECAUSE I SEE SOME I HAVE SOME SERIOUS CONCERNS ABOUT SOME OF THE THINGS THAT I CAN

[00:25:05]

SO WE NEED TO GO A LITTLE BIT DEEPER THAN WE HAVE EVER DONE IN THE PAST ABOUT THE CAPITAL IMPROVEMENT PROJECTS BUDGETS AND EXPENDITURES.

HOMELESSNESS I THINK WE HAVE MADE SOME PROGRESS AND WE ARE GETTING MUCH MORE INFORMATION NOW.

HOUSING AFFORDABILITY IS SOMETHING THAT THERE IS NOT MUCH WE OR EVEN THE MAYOR CAN DO BECAUSE THAT IS BEING DICTATED BY BY THE STATE AND EVEN PREVIOUS MAYOR BRAND, HE SAID IT'S ALL ABOUT THE, THE CONTRACTORS WHO ARE INFLUENCING SOME OF THE DECISIONS THAT ARE BEING MADE.

AND EVEN HE FELT HOPELESS. SO, AGAIN, THAT'S WHERE THE AWARENESS REALLY COMES IN HANDY.

THE ONLY THING WE CAN DO IS BE AWARE OF WHAT'S GOING ON.

AND EMERGENCY RESERVES, WE HAD TALKED ABOUT THAT SEVERAL TIMES IN THE LAST 3 OR 4 MONTHS THAT WE DON'T HAVE ENOUGH ONLY ONE MONTH'S.

AND WE SUGGESTED INCREASING THAT TO AT LEAST TWO MONTHS, AND THE MAYOR INDICATED IN HIS RESPONSE THAT THAT WAS VOTED DOWN BY THE CITY COUNCIL. SO WHILE WE ARE DIPPING INTO THE RESERVES, WE ARE ALSO NOT INTERESTED IN INCREASING IT, WHICH IS TWO THINGS THAT ARE OF GREAT CONCERN TO ME.

SO PLEASE READ THE ENTIRE LETTER. AND I THINK MAYOR'S RESPONSE, I DON'T KNOW IF IT IS INCLUDED OR NOT.

YEAH, YEAH, THIS IS HIS RESPONSE. I'D ALSO MENTIONED SOMETHING ABOUT THE CITY OF FORT WAYNE THAT I HAVE DISCUSSED MANY TIMES IN THE PAST THREE MONTHS, AND HE DID NOT ADDRESS THAT ISSUE AT ALL. IF YOU HAVE NOT SEEN IT BEFORE, I SUGGEST MY FELLOW COMMISSIONERS, IF YOU CAN READ BOTH THE LETTERS, AND THEN MAYBE WE CAN DISCUSS THAT NEXT TIME.

ANYTHING ELSE WE NEED TO DISCUSS? JUST THOUGHT THAT MAYBE EACH ONE OF US ON OUR OWN, CAN TAKE A LOOK AT SOME OF THE CAPITAL EXPENSES THAT ARE PLANNED FOR, OR THE CIP, I GUESS, FOR PLANNED FOR THIS NEXT CYCLE.

AND IF THERE'S SOME THINGS THAT THAT WE FEEL MIGHT BE QUESTIONABLE, WE MIGHT HIGHLIGHT THOSE IN ADDITION TO THAT.

WHAT I DON'T WANT TO PICK ON ANY ONE SPECIFIC THING, BUT I WILL MENTION THE FIRE, THE $15 MILLION OR WHATEVER IT IS, FIRING RANGE. MIGHT AS AN EXAMPLE OF SOMETHING MIGHT BE SOMETHING THAT WE MIGHT QUESTION INASMUCH AS THERE'S ABOUT 1 MILLION OR 1 MILLION AND A HALF DOLLARS WORTH OF PROPOSAL COSTS THAT WOULD NOT BE RECOVERABLE EVEN IF WE DON'T GO FORWARD WITH THE PROJECT.

SO SOMETHING LIKE THAT MIGHT BE DEFERRED. ANYWAY, AS AN EXAMPLE, UNTIL WE'RE ON FIRMER GROUND WITH RESPECT TO OUR PROJECTIONS VERSUS ACTUALS ON OUR TRENDING REVENUES, AND THEN IDENTIFY THOSE ITEMS, WE CAN MAYBE BRING THOSE BACK TO DISCUSS NEXT WEEK OR PARDON ME, NEXT MEETING. AND THEN AND IF WE FEEL THAT, THAT THE NEXT STEP FOR US WOULD BE TO PREPARE SOMETHING TO SEND TO COUNCIL, THEN PERHAPS WE COULD DO IT AT THAT POINT AND MAKE A POINT THAT COMMISSIONER JESTE IS ALSO EMPHASIZING.

IF THAT SOUNDS LIKE SOMETHING WE CAN ALL DO. VERY GOOD.

READY TO MAKE A MOTION? YEAH YES. SO THE MOTION WOULD BE.

OKAY YEAH. OH THAT THE COMMISSIONERS WILL EACH TAKE IT UPON THEMSELVES TO BRING SOME ITEMS TO FOR DISCUSSION IN OUR NEXT MEETING RELATED TO CONTINGENCY PLANS IF THE PROJECTED REVENUE FALLS SHORT OF WHAT WE'RE ANTICIPATING THAT WE COULD FALL BACK INTO AND ELIMINATE OR MODERATE SOME OF THE ITEMS THAT ARE IDENTIFIED AS. SO YOU WANT US TO IDENTIFY ITEMS THAT WE CAN RECOMMEND TO COUNCIL

[00:30:09]

MAYBE EVEN DEFER TO CITY MANAGERS AS WELL WHEN WE'RE TALKING ABOUT THE TRENDING AND TRACKING QUARTERLY OR EVEN AT THE HALF YEAR. DO YOU HAVE A LIST OF WHAT PROJECTS CAN BE DEFERRED OR WHAT REVENUE OR WHAT COSTS CAN BE DEFERRED IF WE'RE NOT ON TREND OF WHERE WE'RE HOPING TO BE? WE CAN DO IT AS WELL. BUT I THINK YOU AND THE CITY MANAGER PROBABLY HAVE THE BEST INSIGHT INTO WHAT HAS THE FLEXIBILITY TO BE DEFERRED.

YEP SO YOU'RE TALKING ABOUT MORE BROADLY THAN THE CAPITAL THAN THE LIST OF CAPITAL.

ARE YOU TALKING ABOUT THE CAPITAL PROJECTS OR JUST GLOBALLY? PROBABLY BOTH. YEAH. IF THERE'S ABILITY TO HAVE FLEXIBILITY OR DEFERMENT ON EITHER CATEGORY, I THINK IT'S WORTHWHILE TO KNOW WHAT THOSE CONTINGENCY PLANS WOULD BE IF WE'RE FALLING SHORT.

AND THE VAST MAJORITY, AT LEAST OF OUR NEW CAPITAL SPENDING IS ACTUALLY GRANT FUNDED.

THERE ARE SOME SOMETIMES CHALLENGES WITH THAT AS WELL AS WE GENERALLY WE HAVE WE HAVE TO SPEND THAT UP FRONT BEFORE WE GET REIMBURSED.

AND SO, YOU KNOW, THAT'S SOMETHING WE CAN LOOK AT.

BUT AS FAR AS YOU KNOW, ITEMS TO DEFER THE HIGHEST COST ITEMS ARE PROBABLY GRANT FUNDED.

SO NOT AS MUCH OF AN ISSUE. BUT I THINK THAT'S A GREAT POINT.

AND WE CAN PREPARE SOMETHING FOR YOU ON ITEMS THAT WE COULD POTENTIALLY CONSIDER DEFERRING.

GRANT FUNDING I DON'T THINK THAT'S THE CONCERN I THINK.

WELL, I THINK THAT GIVES US SOME TOOLS HERE AND A METHOD TO GO AHEAD AND EXPRESS OUR CONCERNS TO COUNCIL AND, AND OR CITY THE CITY MANAGER. SO WHAT IS THE MOTION? WHAT DO WE DO WITH THIS ITEM? DOES ANYBODY WANT TO TAKE A SHOT AT CONSOLIDATING THAT INTO A SENTENCE [LAUGHTER] OR TWO? NOT THEM, YOU [LAUGHTER]. NO, NO. I'M HAPPY. WELL, I JUST I THINK THAT THE COMMISSIONERS WILL EACH ON INDIVIDUALLY IDENTIFY THOSE ITEMS THAT THEY WOULD LIKE TO CONSIDER AS BEING EXPENDABLE IF THE TRENDING REVENUES FALL SHORT OF OUR PROJECTIONS.

I THINK THAT'S ABOVE AND BEYOND OUR ROLE THAT'S REALLY NOT UP TO US THAT'S COUNCIL'S JOB.

I DON'T THINK. WE IDENTIFY YEAH WE NEED TO STICK TO FIGURES, NOT ACTUAL PLANS.

WHAT COUNCIL WANTS THAT'S SOMETHING WE CAN'T GET INVOLVED IN.

THAT'S SOMETHING COUNCIL DOES. SO THE WAY YOU WORDED IT, IT SOUNDED LIKE YOU WERE ASKING US TO DEVELOP A LIST OF PRIORITIZATION OF SOME OF THE ITEMS? WELL, THERE WERE THERE ARE SOME ITEMS, LET'S SAY, THAT THAT ARE UNDER CONSIDERATION THAT HAVE MORE OR LESS I DON'T WANT TO SAY PRACTICAL, BUT EACH PERSON PROBABLY HAS A DIFFERENT FEELING FOR SOME OF THOSE ITEMS. AND IN TERMS OF THE VALUE AND SOME WHICH LOOK LIKE THEY COULD BE DEFERRED WITHOUT ANY MAJOR IMPACT, SOME THAT REQUIRE ADDITIONAL LIKE THE AGAIN, THE THAT FIRING RANGE THAT REQUIRES ADDITIONAL OF A PROPOSAL THAT'S NOT GOING TO BE FUNDED, THOSE TYPES OF THINGS. THAT'S OVERSTEPPING FOR ME.

WE'RE NOT ELECTED, SO WE SHOULD NOT WELL, I DON'T KNOW IF IT'S AN OPINION THAT WE CAN MAKE OR NOT MAKE.

IT'S UP TO THEM TO KIND OF IT'S. WE'RE NOT MAKING ANY DETERMINATION.

WE'RE JUST SAYING I THINK THAT. I'M PERSONALLY IF YOU WANT TO GO THAT'S OKAY BUT I'M NOT SPEAKERS]. AND THEN WHEN WE DO THE BUDGETARY REVIEW WHERE IS THERE FLEX? IF WE'RE IF WE'RE ON TREND OR ABOVE, THEN THINGS ARE GREAT.

IF WE THINK WE'RE BELOW, YOU KNOW, TALKING WITH WITH MIKE AND YOU WHERE ARE THESE OPPORTUNITIES TO TRY TO FIND SOME SAVINGS? AND BASED ON OUR RESEARCH, WE CAN HAVE A MORE ROBUST DISCUSSION.

I DON'T KNOW IF WE NECESSARILY IF IT'S GOING TO BE AGENDIZED FOR NEXT MEETING ANYWAY. I THINK IT'S GOOD THAT WE DO THIS RESEARCH REGARDLESS, BUT I DON'T KNOW IF WE HAVE TO MAKE A MOTION REGARDING IT, IF THAT MAKES SENSE. WELL PUT THANK YOU [LAUGHTER]. SO I JUST MADE AN ANTI MOTION [LAUGHTER]. VERY YOU'RE A TRUE POLITICIAN. THERE YOU GO [LAUGHTER].

SO WE'RE JUST TAKING IT UPON OURSELVES TO JUST BECOME A LITTLE BIT MORE EDUCATED ON THE BUDGET AND SOME OF THE CAPITAL EXPENDITURES YET.

[00:35:03]

THANK YOU EUGENE SOLOMON SPEAKING TO YOU TONIGHT AS A DISTRICT 1 RESIDENT ON ANY OFFICIAL CAPACITY, JUST AS A RESIDENT HERE TONIGHT.

COMMISSIONER JESTE, THANK YOU FOR BRINGING UP THE TOPIC. I THINK YOU'VE GOT TWO DIFFERENT TOPICS THAT YOU'RE TALKING ABOUT, ESSENTIALLY. ONE IS, DO YOU WANT TO GO BACK TO THE COUNCIL AND ASK ABOUT RESERVES AND INCREASING RESERVES? AND THE SECOND IS BUDGETING ITSELF. MAY WANT TO LOOK IN THE FUTURE AS TO RECOMMENDATIONS ABOUT HOW WE BUDGET.

DO WE WANT TO DO ZERO BASED BUDGETING? DO YOU LOOK AT THINGS ON A CASH BASIS OR AN ACCRUAL BASIS? THERE ARE DIFFERENT WAYS OF LOOKING AT IT, BOTH ON THE PUBLIC SECTOR AND THE PRIVATE SECTOR, HOW ALL OF THAT IS BEING DONE. I THINK THE FINANCE DIRECTOR MAKES A GOOD POINT FOR YOU.

WHEN YOU LOOK AT THE CAPITAL IMPROVEMENT PROJECT, YOU'RE GOING TO FIND PROJECTS THAT ARE IN THEIR NASCENT STAGE VERY EARLY AND HAVE MONEY SET ASIDE, BUT HAVE NOT YET BEGUN TO DESIGN, LET'S SAY.

AND THEN YOU MIGHT HAVE PROJECTS THAT ARE IN THE MIDDLE OF DESIGN AND GOING TO BE BUILT OR NEARING COMPLETION.

SO IN THAT WHEN YOU'RE REVIEWING THE TYPES OF PROJECTS, THAT WOULD BE SOMETHING TO CONSIDER AS WELL.

ALSO SEGMENTING THEM AS THE FINANCE DIRECTOR TALKED ABOUT INTO THOSE PROJECTS THAT ARE FUNDED BY GRANTS.

SO WE HAVE OUR CORE BUDGET, OUR GENERAL FUND BUDGET AND CORE BUDGET.

AND THEN WE RECEIVE ALL THESE GRANT MONIES FROM MEASURE M, MEASURE A, A LOT OF THEM ARE TARGETED.

THEY'RE ONLY ALLOWED TO BE SPENT IN CERTAIN AREAS.

PEG FEES THAT ARE CHARGED ON CELL PHONE BILLS ARE CHARGED ARE ONLY BEING USED FOR VERY SPECIFIC PURPOSES.

MEASURE A FUNDS CAN ONLY BE USED FOR VERY SPECIFIC PURPOSES MEASURE M AND SO ON.

SO WHEN YOU'RE LOOKING AT CAPITAL IMPROVEMENT, WHEN YOU'RE LOOKING AT SOME OF THE GRANT FUNDING, WHEN YOU'RE LOOKING AT THOSE THINGS BEING USED TOGETHER WITH OUR OWN MONEY, THEN LOOK TO SEE WITHIN THOSE PROJECTS, SOME OF THEM MAY NOT BE ABLE TO BE SPENT IN CERTAIN AREAS.

SOME OF THOSE PROJECTS WERE PARTNERING WITH OTHER MUNICIPALITIES.

WITH OTHER AGENCIES. WE MIGHT BE PARTNERING WITH TORRANCE.

WE MIGHT BE PARTNERING WITH MANHATTAN BEACH, MIGHT BE PARTNERING WITH HERMOSA BEACH. SO THERE ARE MANY DIFFERENT LAYERS TO THAT.

I WOULD SUGGEST THAT WHEN YOU LOOK AT CAPITAL IMPROVEMENT, THE FUNDING OF CAPITAL IMPROVEMENT, YOU CONSIDER SOME OF THOSE DIFFERENT THINGS IN REVIEWING THE TOPIC AND MAKING SUGGESTIONS.

THE LAST THING I WOULD SAY WOULD BE I ENCOURAGE EVERYONE AS I DID AND HAVE DONE AND STILL DO.

JUST BEYOND EVEN HERE SENDING A LETTER FROM THE COMMISSION.

EMAIL YOUR COUNCIL MEMBERS. EMAIL COUNCIL MEMBER BEHRENDT.

IT'S VERY RESPONSIVE. COUNCIL MEMBER KALUDEROVIC, VERY RESPONSIVE.

COUNCIL MEMBER OBAGI, VERY RESPONSIVE, CASTLE ALL OF THEM.

SO THAT ALSO, I THINK CAN HELP GET SOME OF THESE TOPICS BEFORE THE CITY COUNCIL.

I THANK YOU FOR YOUR TIME. THANK YOU. THANK YOU.

DO WE CLOSE THIS ITEM? DO WE REVISIT? DO WE BRING IT BACK FOR NEXT TIME? IF WE DO, WHAT WILL WE DISCUSS? WE CAN GO OVER.

SO MY ISSUES AND COMMENTS THAT ARE MADE TO THE MAYOR, MAYBE WE CAN DISCUSS.

WE CAN DO. I THOUGHT THAT'S WHAT WE WERE GOING TO DO TODAY.

WELL, I WANT TO MAKE SURE EVERY COMMISSIONER HAS A CHANCE TO READ BOTH THE LETTERS BEFORE WE DISCUSS IT.

WE HAVE NEW COMMISSIONER TURNER, SO WE MAY WANT TO WAIT TILL WE BRING YOU UP TO DATE.

AND THEN ALSO HOPEFULLY NEXT TIME BOTH THE MISSING COMMISSIONERS WILL BE HERE SO.

IF YOU CAN ADD IT TO THE NEXT MONTH'S AGENDA.

I WOULD PREFER SO YEAH, I'LL MAKE A MOTION TO HAVE THAT ADDED.

I'LL SECOND THAT. EVERYONE IN FAVOR? AYE. AYE.

ANYONE OPPOSED? NO, MOTION CARRIED. NEXT ITEM IS NOMINATIONS AND ELECTION OF CHAIRPERSON AND VICE

[J. ITEMS FOR DISCUSSION PRIOR TO ACTION]

LAST YEAR IN OCTOBER, IT WAS COMMISSIONER SHERBIN AND THEN YOU SERVED TWO MONTHS AND THEN YOU ASKED ME TO TAKE OVER, SO I'VE TAKEN OVER TEN MONTHS.

I GUESS TODAY WE CAN. I MEAN, I'LL ASK FOR A MOTION THAT I'LL DO THE OTHER REMAINING TWO MONTHS AND THEN.

[00:40:07]

THAT WOULD BE MAYBE CLEANER? OR COMMISSIONER SHERBIN DO YOU WANT? YEAH SPEAKERS]. JUST FOR SO I'M IN THE SAME SITUATION NOW. I WOULD BE HAPPY TO, YOU KNOW, SUPPORT, BUT NOT TO BE THE CHAIR ITSELF.

SO I THINK WHAT WE WOULD HAVE, WE WOULD HAVE AN ELECTION, WHETHER IT HAPPENS TONIGHT OR WHETHER IT HAPPENS SUBSEQUENTLY AFTER THE FULL TERM.

YOU KNOW, I DON'T KNOW WHAT THE PARLIAMENTARY PROCEDURE IS FOR THAT.

BUT EITHER ONE I WOULD NOT BE A CANDIDATE FOR THE CHAIR POSITION.

I KNOW THE PROCEDURE SAYS NO MORE THAN TWO YEARS.

IT DOESN'T HAVE A MINIMUM. I THINK IT'S JUST BEEN TYPICALLY A YEAR.

AND THEN WE KIND OF ROTATE JUST SO THAT EVERYONE KIND OF GETS AN OPPORTUNITY TO KIND OF SO CAN WE BRING THIS BACK IN TWO MONTHS AND VOTE FOR A NEW ONE? I DEFINITELY WOULD THINK MAYBE EVEN LIKE AT LEAST NEXT MONTH JUST BECAUSE THERE'S WE'RE MISSING TWO OTHER [LAUGHTER] PEOPLE WOULD BE GOOD TO HAVE, YOU KNOW, A FULL QUORUM, BUT I'M OPEN TO THAT. OKAY, LET'S BRING THIS ITEM BACK.

WHEN DID I START? I, I KNOW IT WAS TEN. I THINK IT WAS TEN MONTHS.

THAT THAT SOUNDS RIGHT. YEAH, BECAUSE I THINK YOU WERE.

I THINK TWO MONTHS SO DO WE WANT TO MAKE A MOTION, OR IS IT OKAY TO MAKE A MOTION TO BRING THIS BACK TO THE NEXT MEETING? BECAUSE AGAIN, IT'D BE GOOD TO SEE WHO ELSE IS OPEN TO TAKING ON THAT LEADERSHIP ROLE.

AND THEN I'LL CONFIRM HOW LONG I'VE BEEN. OKAY.

WE CAN HELP YOU WITH THAT. WHAT'S THAT? I SAID WE CAN HELP YOU CONFIRM THAT.

I'M SURE WE HAVE A RECORD. ALL RIGHT MOTION TO BRING.

ANYONE WANTS TO MAKE A MOTION AND SECOND? MOTION TO BRING THIS ITEM BACK FOR NEXT MONTH'S MEETING.

ANYONE SECOND? SECOND. ALL IN FAVOR? AYE, AYE.

ALL OPPOSED? NONE, MOTION CARRIED. NEXT ITEM IS THE CALPERS VALUATION UPDATE. ALL RIGHT I THINK STEPHANIE, FINANCE DIRECTOR HAS THIS.

YES THAT'S CORRECT YES WE DID RECEIVE OUR NEW RESULTS IF YOU'LL REMEMBER.

SO I'LL JUST GO THROUGH THE SLIDE DECK. THIS IS NOT TO TAKE THE PLACE OF OUR KIND OF IN-DEPTH CALPERS MEETING THAT THE COMMISSION IS USED TO HAVING EVERY YEAR.

I DID REACH OUT TO CALPERS ABOUT THAT. THEY LET ME KNOW THAT GENERALLY THEY SCHEDULE THOSE AND MAKE SOMEONE AVAILABLE EVERY TWO YEARS.

WE'VE SOMEHOW GOTTEN AWAY WITH HAVING IT EVERY YEAR.

I DID TALK TO OUR ACTUARY, AND HE SAID THAT HE'S HAPPY TO WORK WITH ME USING THEIR PENSION FORECASTING TOOL TO BUILD SOME SCENARIOS THAT WE CAN THEN SHARE WITH THE COMMISSION. AND DEPENDING ON SPECIFICALLY WHAT THE COMMISSION IS INTERESTED IN SEEING ON THE INVESTMENT SIDE I CAN WORK TO GET THAT INFORMATION IN ADVANCE AS WELL. I'LL CONTINUE TO REACH OUT AND SEE IF I, YOU KNOW, AM ABLE TO GET TRACTION IN BRINGING SOME SOMEONE OVER.

BUT THAT WAS MY MY INITIAL RESPONSE THAT I'VE HEARD, BUT I DID WANT TO BRING THIS UP TO JUST LET THE COMMISSION KNOW WHERE WE ARE SINCE WE GOT OUR NEW WE GOT OUR NEW VALUATION. SO JUST AS A REMINDER, WE'RE ALWAYS WORKING IN THREE DIFFERENT FISCAL YEARS HERE.

IT'S VERY CONFUSING. SO WE GOT OUR REPORT IN WELL A FEW MONTHS AGO, BUT IT'S DATED JULY OF 25.

IT USES THE DATA FOR FISCAL YEAR ENDING IN 23-24.

AND THIS SETS RATES AND PAYMENTS FOR OUR NEXT BUDGET YEAR.

THE REASON FOR THE LAPSE IN TIMING. THEY USE THE PRIOR YEAR DATA JUST TO MAKE SURE THAT THEY'RE ABLE TO COMPLETE ALL ADJUSTMENTS INCLUDE ALL NECESSARY RECONCILIATION TO GET THE NUMBERS ACCURATE.

THE REASON THAT THEY USE THIS DATA FOR TWO YEARS IN ADVANCE IS TO GIVE CITIES ADDITIONAL TIME TO PLAN FOR THE CHANGE.

SO, AS WE'VE SEEN IN OUR CITY, FREQUENTLY, THE VALUATION COMES OUT.

IT'S A MUCH HIGHER NUMBER THAN YOU'RE EXPECTING.

AND THIS IS TO GIVE CITIES TIME TO PLAN FOR HOW TO FUND THAT HIGHER NUMBER.

SO WE HAVE SOME MIXED RESULTS HERE. OUR TOTAL UAL UNFUNDED ACCRUED LIABILITY, OUR TOTAL UAL IN FUNDED LEVELS IMPROVED

[00:45:01]

OUR 26-27 PAYMENT IS ALMOST EXACTLY THE SAME AS OUR CURRENT YEAR.

SO THAT'S I THINK WE'RE HOPING FOR A BETTER IMPROVEMENT IN THAT.

BUT I'LL WALK I'LL WALK YOU THROUGH WHAT THAT'S RELATED TO.

SO THIS IS A SUMMARY OF OUR UNFUNDED ACCRUED LIABILITY.

THESE NUMBERS SHOULD LOOK FAMILIAR TO YOU. SO THIS COMBINES, IF YOU'LL NOTE, OUR MISCELLANEOUS AND SAFETY PLANS.

SO YOU CAN SEE, THIS YEAR, OUR COMBINED UNFUNDED LIABILITY ACTUALLY DECREASED BY AROUND 12% OR $7.1 MILLION.

AND JUST TO REMIND THE COMMISSION, THIS IMPROVEMENT IS RELATED TO THE I THINK IT'S TWO YEARS AGO NOW, THE RETURNS THAT WERE JUST 9.6, I BELIEVE, 9.6%, WHICH IS ABOVE THEIR TARGET, 6.8%, BUT NOT AS GOOD AS LAST YEAR. SO WE SHOULD ANTICIPATE SEEING A SIMILAR, IF NOT BETTER CHANGE TO OUR VALUATION IN THE FOLLOWING YEAR. BUT THIS IS THE FIRST YEAR THAT RECOGNIZES THAT THAT GOOD INVESTMENT YEAR AND THAT IMPACT ON OUR UNFUNDED LIABILITY.

AS A RESULT, OUR UNFUNDED LEVEL WENT UP. OUR MISCELLANEOUS PLAN IS AT 96.3%, WHICH IS REALLY EXCELLENT.

I'M NOT EVEN SURE IF IDEALLY, WE'D WANT IT TO BE HIGHER [LAUGHTER].

GIVEN WE, YOU KNOW EXPOSE MORE, MORE OF OUR ASSETS TO RISK.

BUT AGAIN AS A EVEN COMBINED THIS IS A VERY, VERY HEALTHY LEVEL FOR US TO BE FUNDED AT.

A NORMAL COST AS I MENTIONED, THE COST OF PENSIONABLE, PENSIONABLE PAYROLL IN BOTH PLANS HAS DECREASED FOR A THIRD STRAIGHT YEAR IN CALPERS PROJECTIONS. THEY DO ANTICIPATE SEEING THIS UP ON THE SAME KIND OF CONTINUAL SLOW DECLINE.

AND A LOT OF THIS IS THE IMPACT OF INCREASING PEPRA OR TIER THREE MEMBERSHIP IN OUR IN OUR CITY EMPLOYEES.

SO THIS IS ALSO GOOD NEWS FOR THE CITY. NOW FOR THE, YOU KNOW, NOT SO AMAZING NEWS IS THE IMPACT ON UNFUNDED LIABILITY PAYMENT IS NOT THERE YET. SO THIS YEAR WE'RE PAYING $4.3 MILLION.

NEXT YEAR WE WILL AGAIN BE PAYING IN 26-27 WILL AGAIN BE PAYING $4.3 MILLION.

SO IF YOU NOTICE OUR MISCELLANEOUS PLAN, ACTUALLY THE PAYMENT DECREASED.

AND OVERALL IT'S JUST ABOUT A 1% INCREASE. SO I WANTED TO GO INTO A LITTLE BIT OF DETAIL ABOUT OUR UNFUNDED LIABILITY PAYMENT. I MEAN, MY FIRST REACTION ON SEEING THIS IS ALSO WHY DOESN'T OUR PAYMENT LOOK BETTER, GIVEN THE REST OF OUR RESULTS LOOK BETTER? SO THE FIRST THING TO REMEMBER IS THAT OKAY, SO I REALIZE THIS IS I COULD I COULD HAVE STATED THIS A LITTLE BETTER. SO TO TALK ABOUT HOW WE GET TO THIS UNFUNDED LIABILITY PAYMENT, I WANT TO EXPLAIN HOW IT'S BUILT. SO OUR UNFUNDED LIABILITY PAYMENT IS THE SUM OF WHAT THEY CALL AMORTIZATION BASES, WHICH IS EACH YEAR'S INVESTMENT AND NON-INVESTMENT EXPERIENCE.

SO CALPERS FIGURES OUT WHAT HAPPENS EACH YEAR TO ITS INVESTMENTS AND EACH YEAR HOW OUR CITY EMPLOYEE PAY LONGEVITY AND ALL THOSE OTHER FACTORS COMPARED TO THEIR ASSUMPTIONS.

AND THE RESULT OF THAT WILL ADD OR SUBTRACT FROM OUR LIABILITY, BUT EACH YEAR IS ITS OWN EXPERIENCE AND IS AMORTIZED OVER 20 YEARS.

SO WE HAVE INVESTMENT IN NON INVESTMENT EXPERIENCE.

EACH ARE AMORTIZED OVER 20 YEARS. INVESTMENT GAINS AND LOSSES ARE RAMPED IN OVER FIVE YEARS.

SO THE FIRST YEAR OF A BIG LOSS THE PAYMENT WILL ONLY REFLECT 20% OF WHAT THAT ACTUAL ANNUAL COST WOULD BE.

SO THEY RAMP UP TO 100% AND THEN THAT CONTINUES THROUGH THE REST.

THERE'S NO RAMP DOWN. SO EACH YEAR'S UNFUNDED LIABILITY PAYMENT IS THE SUM OF EACH, EACH ONE OF THOSE PRIOR YEAR EXPERIENCES.

SO ONE YEAR YOUR INVESTMENT NON INVESTMENT IS YEAR ONE.

THE NEXT YEAR YOU'RE GOING TO SEE THAT IN YEAR TWO YEAR THREE YEAR FOUR ALL THE WAY UP TO YEAR 20 WHEN IT'S GOING TO DROP OFF.

SO WHAT YOU CAN SEE HERE IN THIS SUPER FUN CHART, WHICH I ACTUALLY REALLY LOVE FROM OUR VALUATION IS THE IMPACT OF THESE ON OUR TOTAL PAYMENT. SO WHAT YOU CAN SEE REALLY CLEARLY HERE IS CALPERS VERY, VERY BAD INVESTMENT YEAR, THIS -6.1% THAT CONTRIBUTED ALMOST ALL OF WHAT WE ARE PAYING TODAY.

SO IF YOU LOOK LIKE IF YOU LOOK AT HERE, THIS IS ABOUT $12.8 MILLION.

SO HERE'S OUR BALANCE. THERE'S SOME EXPECTED PAYMENTS.

THERE'S OUR BALANCE. SO THE MINIMUM PAYMENT REQUIRED IS RELATED TO THIS BALANCE.

[00:50:03]

BUT THIS IS OBVIOUSLY YOU KNOW, THE LARGEST CONTRIBUTING FACTOR.

YOU CAN ALSO SEE HERE THIS THE NEGATIVE NUMBER IS A POSITIVE A BENEFIT FOR US.

IT'S GOOD. THIS IS THE IMPACT OF OUR 9.3% RETURN.

SO WE ACTUALLY HAD A $6 MILLION GAIN FOR THE CITY RELATED TO THAT INVESTMENT RETURN.

SO THIS JUST ADDS UP THE RESULT OF EACH ONE OF THOSE EXPERIENCES TO GET TO OUR TOTAL PAYMENT DUE.

AND THIS IS JUST OUR MISCELLANEOUS PLAN. AGAIN, YOU CAN SEE THE SAME THING FOR OUR SAFETY PLAN.

IT'S THE SAME EXCEPT THE NUMBERS ARE SIGNIFICANTLY LARGER ON BOTH SIDES.

SO YOU'LL SEE AGAIN THE RESULT OF THIS -6.1% RETURN YEAR ADDED $32 MILLION TO OUR UNFUNDED LIABILITY. THE OTHER THING THAT I'LL POINT OUT HERE THAT'S IMPORTANT TO NOTE ARE THE RAMPS.

SO YOU'LL SEE OUR REALLY HIGH NUMBER HERE. THIS IS AT 60%.

SO WE ACTUALLY STILL HAVE TWO YEARS OF THIS NUMBER GETTING LARGER BECAUSE IT'LL RAMP UP TO 100% AND THEN STAY AT THAT LEVEL. HOWEVER, IF YOU'LL SEE HERE OUR, YOU KNOW, THE POSITIVE IMPACT OF OUR RECENT INVESTMENT GAIN IS ONLY AT 20%. SO AGAIN SIMILAR TO HOW THEY RAMP IN THE LOSSES, THEY'LL RAMP IN THE GAINS.

SO WE'LL AGAIN, WE'LL JUST CONTINUE TO SEE IN OUR PAYMENTS THE IMPACT OF ALL OF THESE AS THEY KIND OF CYCLE THROUGH THE AMORTIZATION PERIOD WITH WHATEVER OUR NEXT YEAR'S EXPERIENCE IS ADDED ON.

SO ALSO UPDATED THIS TABLE THAT I'VE SHARED WITH THE COMMISSION BEFORE TO INCLUDE OUR OUR MOST RECENT NUMBERS.

AGAIN, A COMMISSIONER WOODHAM AND OTHERS HELPED US CREATE THIS AS A WAY FOR US TO KIND OF ASSOCIATE THE INVESTMENT RETURNS AND THE CHANGES TO OUR UNFUNDED LIABILITY.

SO WE'LL JUST CONTINUE TO ADD TO THIS. SO WE SEE HERE.

SO THIS IS OUR IMPROVEMENT, UNFUNDED LIABILITY.

THIS BUILDS IN OUR INVESTMENT RETURN. ALTHOUGH I WILL POINT OUT THE INVESTMENT RETURN MAKES A HUGE DIFFERENCE.

IT IS NOT THE ONLY PART OF OUR UNFUNDED LIABILITY.

SO WE HAVE TO CONSIDER THE NON INVESTMENT SIDE AS WELL.

BUT I JUST HIGHLIGHTED A FEW YEARS HERE AGAIN.

OBVIOUSLY THE BIG NUMBER IS HERE THIS -6.1%. THIS THE INCREASE DECREASE HERE IS A LITTLE WEIRD BECAUSE WE DON'T GET TO SHOW OUR ZERO, WHICH WAS REALLY WONDERFUL FOR A MINUTE. BUT THIS IS ESSENTIALLY, YOU KNOW, 0 TO $45 MILLION IS PROBABLY EVEN BIGGER BECAUSE WE WERE OVERFUNDED BRIEF RATE OF TIME.

THIS IS OUR, OUR HUGE NUMBER. AND THEN HERE WE CAN SEE, YOU KNOW, WE CAN SEE A DECREASE.

AND THIS IS SORRY I MISSED THIS YEAR, BUT THIS IS A SMALLER INCREASE RELATED TO A SMALLER SMALLER FALLING SHORT OF THE TARGET INVESTMENT RETURN.

I ALSO ADDED THE 24-25 MOST RECENT INVESTMENT RETURN.

IT'S 11.6% THAT IS GREAT. OUR OVER OUR 6.8% TARGET RATE.

WE'RE GOING TO SEE THAT IMPACT ON OUR VALUATION THAT WE WILL GET NEXT SUMMER, AND IT WILL SET OUR RATES FOR 27-28.

SO OUR FUTURE OUTLOOK, I THINK LIKELY AND I TALKED TO OUR ACTUARY ABOUT THIS AS WELL.

I DISCUSSED THE REPORTS WITH HIM IN DETAIL. WE'RE LIKELY TO SEE PRETTY STEADY UNFUNDED LIABILITY PAYMENT, AT LEAST FOR THE NEXT FEW YEARS, AS AGAIN, WE SEE THE IMPACT OF RAMPING AND OUR POSITIVE NEGATIVE AND POSITIVE RETURNS. I THINK LIKELY THIS WILL TREND TOWARDS AN IMPROVEMENT IN OUR OVERALL YOU KNOW, WHEN YOU SUM THESE UP, ESPECIALLY WHEN WE ADD IN THE BETTER INVESTMENT YEAR.

AND YEAH, AND SINCE WE DON'T HAVE THE OPPORTUNITY FOR ANYTHING CATASTROPHIC IN THE INVESTMENT AREA TO AFFECT US FOR A FEW YEARS, WE SHOULD AT LEAST SEE KIND OF A STEADY FEW YEARS.

WE WOULD JUST HAVE TO SEE WHAT OUR NON WHAT OUR NON INVESTMENT EXPERIENCE LOOKS LIKE.

SO PLEASE THE NEXT 2 TO 5 YEARS LIKELY TO STAY ROUGHLY THE SAME.

OTHER FACTORS I JUST POINTED OUT HERE WE DO HAVE AN INCREASING PEPRA ENROLLMENT.

SO WE HAVE THREE TIERS. OUR CLASSIC TIER IS OUR HAS OUR MOST GENEROUS BENEFITS.

WE HAVE A TIER TWO. AND THEN WE HAVE THE THIRD TIER, THE PEPRA WHICH IS SIGNIFICANTLY LESS COSTLY FOR THE CITY.

ANOTHER ITEM I'LL POINT OUT IS CALPERS IS CURRENTLY UNDERGOING THEIR ASSET LIABILITY MANAGEMENT REVIEW.

[00:55:07]

AND THE INVESTMENT COMMITTEE PROPOSES CHANGES TO THE BOARD.

THE ON THE ACTUARIAL SIDE, THEY ALSO REVIEW ALL THEIR ACTUARIAL ASSUMPTIONS AND PROPOSE CHANGES TO THE BOARD.

SO THAT IS IN PROCESS NOW. THE BOARD MET IN CLOSED SESSION IN SEPTEMBER, AND I BELIEVE THEY WILL CONSIDER IT AT THEIR NOVEMBER OPEN BOARD MEETING. THERE IS A PUBLIC LINK, A STAKEHOLDER LINK TO THAT BOARD MEETING THAT I'LL SEND TO THE GROUP IF ANYONE'S INTERESTED IN YOU KNOW, JOINING IN AND HEARING ABOUT THE IMPACT OF THE CHANGES THAT THEY RECOMMEND FOR CITIES.

AND I JUST WANTED TO SHARE SOMETHING ABOUT THE PEPRA TRANSITION BECAUSE WE'VE TALKED ABOUT THIS. SO AGAIN, OUR BALANCE IS GRADUALLY SHIFTING TOWARDS PEPRA.

WE'RE AT 63.2% OR SORRY, WE'RE AT 60.2% OF MEMBERS IN MISCELLANEOUS AND A LITTLE BELOW THAT IN SAFETY.

AGAIN, YOU CAN KIND OF SEE THE IMPACT ON COVERED PAYROLL.

I THINK AN INTERESTING, INTERESTING AS THAT LAST ONE, THE PERCENTAGE OF ACCRUED LIABILITIES THAT ARE PEPRA MEMBERS REPRESENT I MEAN, THIS MAKES SENSE. USUALLY, YOU KNOW, THEY'RE NEWER MEMBERS.

PEPRA DIDN'T EVEN COME INTO BEING UNTIL, I THINK 2013, 2014.

2013 TO INCREASE THE PROPORTION OF OUR PEPRA MEMBERSHIP, THOSE EMPLOYEES MAY REPRESENT LESS OF A LONG-TERM, LONG-TERM LIABILITY FOR THE CITY. BUT AGAIN, CALPERS DOES PROVIDE US PRETTY INTERESTING INFORMATION ON THIS, SO I'LL CONTINUE TO SHARE IT WITH THE COMMISSION.

SO NEXT STEPS, WE WILL HAVE ANOTHER WHOLE SESSION TO DISCUSS CALPERS IN DETAIL WITH OR WITHOUT A CALPERS REPRESENTATIVE.

AGAIN, I'LL CONTINUE TO REACH OUT AND SEE IF I CAN GET SOMEONE TO COME.

BUT FOR THE COMMISSION, IF YOU'D LIKE TO PUT THIS ON.

I GUESS MAYBE IT'D BE NEXT MEETING. IF YOU WANT TO THINK ABOUT ANY, YOU KNOW, SPECIFIC QUESTIONS YOU HAVE, ANY CHARTS YOU WANT TO SEE ANY GRAPHS, YOU WANT TO SEE ANY SPECIFIC INVESTMENT RELATED QUESTIONS SO WE CAN GATHER THE INFORMATION.

BECAUSE WE USUALLY HAVE YOUR YOUR PENSION FOCUSED MEETING IN DECEMBER.

AND THEN AS I MENTIONED THIS PRESENTATION WILL INCLUDE A, SOME PROJECTIONS THAT WE CAN CREATE THROUGH THE PENSION TOOL.

AND THERE WE CAN PLAY WITH THE INVESTMENT RETURNS, BUT ALSO PLAN EXPERIENCE AND SOME OTHER ITEMS TO GIVE AN IDEA OF SOME THINGS THAT, THAT COULD HAPPEN. SO THAT'S IT. THANK YOU. ANY QUESTIONS COMMENTS OR MOTION? NOPE IF ANYONE IS FEELING REALLY TIRED AT NIGHT AND WANTS TO GO TO SLEEP.

BUT THEY ACTUALLY THEY DO HAVE A LOT OF VERY, VERY DETAILED, PRETTY INTERESTING INFORMATION.

AND IF ANYONE'S SUPER INTERESTED, PLEASE SEND ME AN EMAIL AND WE CAN HAVE A DISCUSSION ABOUT IT.

IS THERE A MOTION TO ACCEPT AND FILE? SO MOVED.

SECOND? SECOND AYE, AYE. ANY OPPOSED? NONE. MOTION CARRIED. OH, WE DO NEED TO CHECK FOR PUBLIC COMMENT.

ARE THERE ANY PUBLIC COMMENTS? THERE ARE NO ECOMMENTS AND THERE ARE NO PARTICIPANTS ON ZOOM.

ARE THERE ANY? NO. ALL RIGHT THANK YOU, AND WE ARE ON ITEM K.

[K. COMMISSION MEMBER ITEMS AND FUTURE COMMISSION AGENDA TOPICS]

SO THIS IS WHEN AS A COMMISSION. SO WHAT I'VE BEEN TOLD AND IT'S DONE DIFFERENTLY THAN OTHER AGENCIES I KNOW BECAUSE OUR HANDBOOK IS DIFFERENT. IT'S NOT REQUIRED BY BROWN ACT OR BY OUR BYLAWS.

BUT THERE IS A HANDBOOK THAT CITY HAS AND THEY REQUIRE THAT WE AS A COMMISSION PUT THE TOPICS ON THE AGENDA DURING THE PREVIOUS MEETING. SO SO WE NEED TO LET STAFF KNOW WHAT TO PLACE ON THE AGENDA.

THE FIRST I HAVE IS THE QUARTERLY UPDATE FROM STAFF SO I HAVE A DETAILS IS DISCUSSED QUARTERLY UPDATE.

AND THEN I THINK DO WE WANT TO BRING THERE ARE SOME ITEMS. I DON'T KNOW WHY THEY WERE REMOVED FROM THE PREVIOUS MEETINGS.

BECAUSE I WAS TOLD WHEN I CAME LATE THAT THERE WERE GOING TO BE DISCUSSED AT THE NEXT MEETING,

[01:00:04]

WHICH ITEMS OR WHICH TOPICS ARE DID ANYONE WANT TO BRING THAT BACK? WE CAN BRING THAT BACK I KNOW THAT WAS YEAH OKAY OR I CAN LIST THEM, AND THEN WE CAN ALL VOTE, OR WE CAN PULL AN ITEM.

AND THEN THERE WAS THE BUILDING MAINTENANCE UPDATE.

DO WE WANT TO BRING THAT OR WE'RE GOOD WITH THAT ONE OR IS THE CAPITAL ONE? WE WANT TO BRING BACK CAPITAL IMPROVEMENTS? YEAH, THAT'S GOING TO BE.

THE CAPITAL IMPROVEMENTS? WE DON'T NEED BUILDING MAINTENANCE UPDATE.

RIGHT? OKAY. THAT'S WHAT I MEANT TO WRITE CAPITAL IMPROVEMENT BECAUSE I KNOW COMMISSIONER JESTE MADE SOME CALCULATIONS, BUT WE COULDN'T DISCUSS BECAUSE IT WAS NOT ON THE AGENDA.

SO IF WE CAN ADD ALL THAT, ATTACH ALL THAT STUFF, I DON'T KNOW WHO DOES IT ATTACH IT TO THE AGENDA. ANYTHING ELSE? OH, I DO WANT TO DISCUSS OUR APRIL MEETING TIME, AND WE CAN'T DISCUSS NOW.

SO I WANT TO PUT IT ON THE AGENDA TO DISCUSS SO THAT WE CHANGE BECAUSE THERE'S A SPRING BREAK AND SOME OF US ARE PARENTS.

AND I WANT TO DISCUSS CHANGING THE DATE OFFICIALLY FOR APRIL TO A DIFFERENT DATE THAT DOES NOT ALIGN WITH A CITY OF REDONDO BEACH DISTRICT'S SPRING SCHEDULE. TOO FAR DOWN THE ROAD [LAUGHTER].

SO I YEAH, BUT I WANT TO HAVE IT ON THE AGENDA.

SO WE DISCUSS AND VOTE AND THEN, YOU KNOW, IF WE SAY NO, I NEVER BRING THIS UP.

IF WE SAY YES, THEN IT'S ON A CALENDAR. ANYTHING ELSE THAT? I KNOW STEPHANIE MENTIONED OR ALLUDED TO, LIKE, AGAIN, DO WE WANT TO BRING CALPERS UP AGAIN NEXT MEETING MORE TO HAVE QUESTIONS PREPARED FOR THE DECEMBER MEETING AROUND CALPERS ANSWERED FOR THE DECEMBER MEETING. SO WE MAY WANT YEAH OKAY. SO THE CALPERS, I THINK THEY'RE RIGHT.

AND THEN AND THEN, I DON'T KNOW IS THE CITY CLERK GOING TO BE HERE NEXT MONTH TO DISCUSS THE HANDBOOK OR UPDATE? GIVE US AN UPDATE ON HANDBOOK? SO WE WILL WE'LL DISCUSS WITH HER. I THINK SHE'S STILL WAITING TO GET A COUPLE THINGS FINALIZED.

WHEN I TALKED TO HER, SHE SAID PROBABLY NOVEMBER OR DECEMBER.

BUT WE CAN. OKAY. BUT WE CAN DISCUSS THAT. YEP.

OKAY SO WE DON'T WE DON'T NEED TO. WELL, THE PART I WOULD LIKE TO ASK FOR STAFF IS THAT IF WE HAVE A NEW COMMISSIONER JOINING, MAYBE LET US KNOW AS THE COMMISSION THAT WE HAVE A NEW MEMBER.

I'M THE SAME HAPPENED WITH THE PREVIOUS MEMBER.

I'D LIKE IF CITY CLERK DOES NOT COMMUNICATE THAT TO STAFF, MAYBE THAT'S.

I'D LIKE TO ASK HER TO COMMUNICATE TO STAFF AND TO THE COMMISSIONERS.

AND IF THERE'S IF THERE'S GOING TO BE ABSENCES, IF YOU CAN COMMUNICATE AGAIN TO US, JUST SO WE'RE AWARE OF WHO'S GOING TO BE HERE, WHO'S NOT. IT'S COMMON COURTESY TO ME, BUT I'D LIKE TO ASK IT IN A FORMAL FASHION.

SORRY, ARE YOU ASKING? GOING TO BE IF SOMEONE CONTACTED YOU AND SAID WE'RE NOT GOING TO BE AT THE MEETING, SEND AN EMAIL TO THE COMMISSION, SAY COMMISSIONER JESTE IS NOT GOING TO BE AT THE MEETING TOMORROW.

I'LL CHECK ON THAT. I MEAN, I GUESS I DON'T KNOW OF A REASON WHY NOT.

I JUST KNOW THAT THE PROTOCOL THAT I'VE SEEN IS JUST THAT THE MEMBERS THE MEMBERS NOTIFY THE CITY CLERK.

SO I GUESS I DON'T REALLY DO OTHER MEMBERS WANT STAFF TO NOTIFY THE GROUP IF YOU'RE NOT GOING TO BE THERE? I'M NOT THE CHAIR IN THE COMMISSIONER JESTE'S THE CHAIR.

IF YOU'RE GOING TO BE ABSENT, MAYBE ALSO INCLUDE THE CHAIR.

SO AT LEAST THE CHAIR KNOWS THAT YOU'RE NOT GOING TO BE HERE? IT'S JUST COMMON COURTESY SURE. OKAY, I DON'T HAVE I DON'T DO NOT HAVE ANYTHING ELSE UNLESS I FORGOT.

BECAUSE IF WE DON'T DECIDE NOW, WE CAN'T ADD IT LATER.

THAT'S THE RULE REDONDO HAS. YEAH OH WE CAN. WE'LL VOTE. [LAUGHTER] IS THERE A MOTION TO?

[01:05:06]

AND THEN I'M GOING TO COME TO A MEETING AND SAY, WHY DIDN'T THEY PUT THIS ON THE AGENDA? IT'S MOTION TO BRING THESE ITEMS, ALL THE ITEMS THAT WE JUST DISCUSSED FOR ON THE AGENDA FOR NEXT MEETING? I PROPOSE WE DO. IS THERE A SECOND? [LAUGHTER] SECOND OR I DON'T KNOW. ALL IN FAVOR? AYE. ANYONE OPPOSED? NO. MOTION CARRIED. NOW, WE DID IT LEGALLY. WE DO ACTUALLY HAVE A PUBLIC COMMENT FOR THAT ITEM AS WELL.

OKAY OH, SORRY YES. YES YEAH I JUST WANTED TO I THINK YOU SHOULD BRING IT ONTO YOUR AGENDA BECAUSE OF THE MAYOR'S CONCERN.

HE FEELS A SOURCES AND USES OF FUNDS ANALYSIS SHOULD BE MADE PER HIS QUOTE, WHICH HE DID AT THE COUNCIL MEETING SO. THANK YOU FOR THE REMINDER.

OKAY. YOU GUYS DIDN'T REMEMBER EITHER. AND I DON'T KNOW WHERE MY WHERE DID I.

OH, IT'S ON THE NEXT PAGE.

AND THEN WE WON'T HAVE TIME TO DISCUSS AND WE'LL KEEP.

WE'LL JUST BRING IT BACK? I GUESS. CAN I MAKE A CLARIFYING COMMENT ON THAT ITEM? SO WE DID, I THINK TWO MEETINGS AGO, BRING A HOMELESSNESS COSTS AND USES SOURCES AND USES SUMMARY ALONG WITH A DISCUSSION.

THE CITY ATTORNEY JUST DID A PRESENTATION ON HOMELESSNESS AT THE COUNCIL MEETING.

I GUESS IF THIS IS ON A FUTURE AGENDA, WHAT IS WHAT ARE WE SPECIFICALLY ADDRESSING? I CAN I GUESS. WHAT ADDITIONAL ARE WE LOOKING FOR OR HOPING TO YEAH. AND I'LL JUST I'LL JUST SAY I MEAN, WE'VE ALREADY DISCUSSED INTERNALLY WITH THE CITY ATTORNEY'S OFFICE SINCE WE HAVE A STRUCTURE.

I MEAN, IT'S PRETTY SIMPLE TO UPDATE MOVING FORWARD.

THAT'S SOMETHING THAT WILL WORK PROACTIVELY WITH THE CITY ATTORNEY'S OFFICE ON.

SO, YOU KNOW, IT'S IT'S DEFINITELY ON OUR RADAR.

I THINK THIS IS SOMETHING WE CAN BRING BACK, YOU KNOW, PERIODICALLY TO UPDATE.

I GUESS I WOULD JUST WANT TO BE CLEAR IF IT'S COMING BACK THAT'S A GOOD QUESTION. THAT'S A GOOD QUESTION.

SO IF WE BRING IT BACK, WHAT WILL WE BE ACHIEVING? WHAT GOAL ARE WE TRYING TO ACHIEVE BY BRINGING IT BACK? DID WE GET SOME KIND OF FORMALIZED FORMAT FOR THE FOR THE TRACKING AND THE REPORTING AND THE COLLECTION OF THE DATA? I THINK THERE WAS A QUESTION. I THINK THAT I HEARD TO DEAL WITH INDIRECT LABOR, ALL THE DEPARTMENT LEVELS.

THERE WAS A TREMENDOUS AMOUNT OF TIME, I THINK I DON'T HAVE THE EXACT WORDING, BUT THERE WAS A TREMENDOUS AMOUNT OF TIME.

IT SEEMED LIKE WAS BEING REFERRED TO THAT WAS UNACCOUNTED FOR BECAUSE.

YEAH. THERE WAS NO MECHANISM FOR TRACKING IT.

SO I THINK THAT'S SOMETHING WE CAN DISCUSS INTERNALLY. AND AGAIN, IF YOU KNOW, THAT'S SOMETHING IMPORTANT, WE CAN SET UP THE INFRASTRUCTURE TO DO IT. SO I THINK THAT WOULD BE PART OF OUR ONGOING DISCUSSION WITH THE WITH THE CITY ATTORNEY'S OFFICE.

I THINK UNFORTUNATELY, YOU WEREN'T HERE AT OUR MEETING WHEN WE PRESENTED IT. BUT IF YOU'D LIKE TO TAKE ANOTHER LOOK AT THE DOCUMENT AND THE FORMAT THAT WE PRESENTED IT IN. IF YOU HAVE SPECIFIC RECOMMENDATIONS, WE CAN ALSO KEEP THOSE IN MIND AS WE CONTINUE TO UPDATE IT.

PERFECT THANK YOU. ALL RIGHT. IS THERE A REASON FOR US TO BRING IT BACK

[01:10:01]

WE'RE VERY EXCITED FOR HER TO JOIN US. SHE IS THE ASSISTANT FINANCE DIRECTOR.

SO EXCITED TO HAVE HER HERE. SO I JUST WANTED TO GIVE HER THE CHANCE TO INTRODUCE HERSELF AND YEAH.

TELL US A LITTLE BIT ABOUT WHERE SHE'S FROM. OKAY OKAY, HI VERY HONORED TO BE HERE TONIGHT AND MEETING EVERYONE.

HOPEFULLY WE CAN WORK VERY WELL TOGETHER FROM NOW ON.

AND ALSO I WILL INTRODUCE MYSELF. I CAME FROM CSU, WHICH IS MY LAST JOB.

I CAME FROM CSU CHANCELLOR'S OFFICE AND I WAS THE DIRECTOR OF FINANCIAL REPORTING THERE, RESPONSIBLE FOR THE SYSTEM WIDE FINANCIAL REPORTING AND AUDITING. I HAVE OVER 19 YEARS OF EXPERIENCE WITH FINANCIAL REPORTING, AUDITING AND GENERAL ACCOUNTING, ALSO BUDGETING WITH PRIVATE AND PUBLIC SECTORS, INCLUDING OVER TEN YEARS WITH GOVERNMENTAL AGENCIES LIKE CITIES AND SPECIAL DISTRICTS. SO I'M VERY EXCITED FOR MY NEW POSITION AND WORKING WITH STEPHANIE AND THE FINANCE TEAM AND ALL THE CITY DEPARTMENTS. SO I'M VERY HAPPY TO BE HERE, THANK YOU.

THANK YOU. WELCOME. I DIDN'T KNOW WE COULD DO THAT.

SO THAT MEANS TRENT YOU CAN INTRODUCE YOURSELF AS WELL, THAT MIGHT HAVE FOLLOWED. WELL, GOOD EVENING EVERYONE.

MY NAME IS TRENT TURNER, THIS IS MY FIRST MEETING.

I'M BORN AND RAISED IN REDONDO BEACH, SO I'M HAPPY TO HAVE AN OPPORTUNITY TO, YOU KNOW, GIVE BACK AND HAVE A LITTLE BIT OF A VOICE IN WHAT GOES ON IN OUR LOVELY CITY HERE. AS FAR AS WHAT I DO FOR WORK, I'M A FINANCIAL ADVISOR.

I HAVE A FINANCIAL SERVICES FIRM BASED OUT OF EL SEGUNDO.

SO HOPEFULLY WE CAN APPLY FROM MY KNOWLEDGE AND EXPERTISE AND SEE HOW I CAN BE OF ASSISTANCE AND HELP.

THANK YOU AND WELCOME. THANK YOU. DO WE HAVE A MOTION TO ADJOURN THE MEETING? MOTION TO ADJOURN. AND SECOND? SECOND. ALL IN FAVOR? AYE. MOTION IS ADJOURNED AT 7:52 P.M.

* This transcript was compiled from uncorrected Closed Captioning.