TO: Mayor Bien-Willner and Town Council Members
FROM: Jill Keimach, Town Manager
Douglas Allen, CFO
DATE: November 19, 2020
DEPARTMENT: Finance
Staff Contact Douglas Allen, 480-348-3696
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AGENDA TITLE:
Title
Discussion and Possible Direction Regarding the FY2020/21 Monthly Financial Update No. 3 for November 2020
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SUMMARY STATEMENT:
The document and presentation for the FY2020/21 Monthly Financial Update No. 3: November 2020 is now available. Compared to previous months, the revenue section is scale back to only include updated information.
Also included in the November report is:
* Briefing on a Capital Improvement Program Budget Amendment Resolution that is recommended for Council's consideration; and
* Discussion on the timing of Council approved payments for the Public Safety Personnel Retirement System ("PSPRS") Unfunded Liability. This is a follow-up from the Mayor and Council meeting on October 22nd; and
* An appendix in the PSPRS Unfunded Liability section with a preview of the GASB reporting for the Unfunded Liability as it will be reported in the Town's financial statements for the year ended June 30, 2020. This is included as informational purposes, but is available for questions and discussion at the pleasure of the Mayor and Council.
Overall recommendation: staying the course set forth in October !
A. FY2020/21 MONTHLY FINANCIAL UPDATE NO. 3
I. INCLUDED IN THE NOVEMBER UPDATE
a) Highlights and analysis of the Town's major and most impactful revenues;
b) Discussion on the status of the Public Safety Personnel Retirement System and timing of payments toward the Unfunded Liability; and
c) Briefing for considerations of a Budget Amendment for Capital Improvements.
II. AVAILABILITY OF MATERIALS
The financial information necessary to complete accurate materials is not available to staff in time to be part of the Friday (November the 13th) release of the Mayor and Council agenda packet. The Monthly Financial Update...
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