Beaumont Audit & Finance Committee Transcript March 3, 2019

Beaumont Finance & Audit Committee Transcript March 4, 2019: https://www.youtube.com/watch?v=VlgsRF3D6z4

59:00 Finance Director Melana Taylor: We do have our Bond Requisitions on the City’s portal so you can see what’s there. Each one has the transfers of funds.

Libi: Except the Bond Cost of Issuance Requisitions, where are those?

Taylor: The Cost of Issuance is handled by the Underwriter, not by the City [Issuer].

Libi: No it’s not.

Taylor: Yes it is.

1:23:45 City Councilman Nancy Carroll: One other item for a future agenda maybe. I know we’ve slipped, we’re a little bit behind on the ‘report’ from The Pun Group. So could we…

1:24:00 Taylor: That’s part of my comment. The Audit has been my main focus. There’s more than one going because we also have the Transit Audit and I’m supposed to have both. I was supposed to have both and I continue to supposed to have both, but I’ve been told that I will absolutely have them and that they will be here to do the presentation to City Council on the 19th [of March].

1:25:00 Taylor: So my question to this Committee is; if the Committee wants to be present on the 19th for that presentation or if the Committee wants a Special Meeting on the 18th. I can have them [The Pun Group] present on the 18th as well.

Carroll turning to Cooley: Do you want to have a meeting on the 18th?

Cooley: Of this month? I won’t be able to attend.

Carroll: The way we’ve always done it is to have it so that we can ask questions and do our examination before the City Council. I for one would like to continue that. Others will want to weight in, I’m sure.

Taylor: It will be a final Report.

Bennecke: Is there a requirement to get this done this quickly?

Taylor: We need to get it filed. We need to get it forwarded to several different sources.

Libi: The deadline was December.

1:26:00 Cooley: So let’s just query the Committee as whether or not you will be available on the 18th and let’s start with you Richard [Bennecke]. We want to make sure we’ll have a quorum.

Bennecke: Right now, I think so.

Carroll: Melana [Taylor] will have to determine too if they’re available.

Taylor: They are, I already asked them.

Bennecke: I know we don’t have any control over these outside Consultants besides cracking the whip. I always feel uncomfortable getting things at the last minute especially when there’s a lot of numbers involved and having to go over it and everything and then passing it on to the Council who basically has to do the same thing; look it all over and ask the tough questions. But if that’s what we’ve got to do that’s what we’ve got to do.

1:26:00: Cooley: Yea. Anna will you be available?

Olvera: I will be available.

Cooley: I will not be available. Nancy?

Carroll: I will be available.

Cooley: Mayor?

Martinez: I will be available.

Cooley: Barron?

Appointed City Treasurer Baron Ginnetti: I’m available, but I go; we’re late already. What is it to wait two weeks and everybody be here for the regular meeting? Late is late. You can’t make up for not making December. We can just be here April Fool’s Day and do it and then have it to the Council the next day.

Martinez: I think the Council wants it on the 19th.

Ginnetti: Okay, then I’m in.

Cooley: Billiath?

Bengesa: Yes.

Cooley: Based on that; we will have a quorum, so let’s go ahead and meet on that date. Do we need a motion, or do we just need the City Clerk follow up?

Carroll: We can’t take action on it because it wasn’t on the Agenda.

Cooley: That’s correct.

Benneck: Getting back to the meeting on the 18th. Will we have the data and information prior to the meeting, like Friday?

Taylor: It will be out on Friday, sooner if I can get it.

Benneck: But no later than Friday?

Taylor: No later than Friday.