03-09-20 Fiscal Affairs Committee Minutes

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0F CHUCK ENGELKEN,CHAIRO �► I THOMAS GARZA Councilmember District 2 1 Councilmember District 4 r Alternate JAY MARTIN Councilmember, District 5 A4,43:00. -- MINUTES MINUTES OF MEETING OF FISCAL AFFAIRS COMMITTEE MARCH 9, 2020 The Fiscal Affairs Committee of the City of La Porte met on March 9, 2020, at the City Hall Council Chambers, 604 West Fairmont Parkway, La Porte, Texas, at 4:30 p.m., with the following in attendance: Committee members present: Chuck Engelken, Thomas Garza Committee members absent: Jay Martin Council-appointed officers present: Jason Weeks, Assistant City Manager; Lee Woodward, City Secretary CALL TO ORDER— Chairperson Engelken called the meeting to order at 4:30 p.m. 2. CITIZEN COMMENT (Generally limited to five minutes per person; in accordance with state law, the time may be reduced if there is a high number of speakers or other considerations.) There were no public comments. 3. STATUTORY AGENDA (a) Presentation, discussion, and possible action to approve minutes of the meeting held on December 9, 2019. [Councilperson Engelken, Chairman] Committee member Garza moved to approve the minutes of the meeting held on December 9, 2019: the motion was adopted, 2-0. (b) Presentation, discussion, and possible action to receive and review the First Quarter (FY2020) Investment Report. [Shelley Wolny, Treasurer] Presentation; no action required. The Committee received a very positive first quarter report from City Treasurer Shelley Wolny on the first quarter and was cautious concerning the future, with reference to today's severe results. (c) Presentation, discussion, and possible action to receive and review purchasing card expenditures for September, October, and November 2019. [Cherell Daeumer, Purchasing Manager] Presentation; no action required. (d) Presentation, discussion, and possible action to accept the Fiscal Year Ending September 30, 2019 Comprehensive Annual Financial Report (CAFR). [Michael Dolby, Finance Director] Lupe Garcia and Laura Lynch of Whitley Penn's Engagement Team, provided the 2019 Comprehensive Annual Financial Report (CAFR). They confirmed the audit was conducted in accordance with Government Auditing Standards, was free of material misstatements, and issued the City an unmodified or "clean" opinion. Committee member Garza moved to accept the report; the motion was adopted, 2-0.