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Finance Committee Minutes 2024-07-15 IDJ (Action)FINANCE COMMITTEE MEETING MONDAY, JULY 15, 2024 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, July 15, 2024 1 | 2 1. ROLL CALL Present in Person: Committee members Craig Ferraro and Lisa Post and Councilors Rich Carroll and Tamra Underwood. Present Virtually: Courtney Sievers with Magellan Strategies and Town of Avon Marketing & Communications Manager Elizabeth Wood. Absent: Committee Members Clark Rogers, John Widerman, Markian Fedeschuk and Steve Coyer. Staff: Town Manager Eric Heil, Deputy Town Manager Patty McKenny, Chief Financial Officer Paul Redmond and Chief Administrative Officer Ineke de Jong, as Secretary. The meeting was called to order at 5:13 p.m. Town Manager Eric Heil expressed we don’t have a quorum for the finance committee meeting but no decisions will be made this evening as all items are work sessions for informational purposes. 2. APPROVAL OF MAY 20TH, 2024 MINUTES The minutes did not get approved as there was no quorum for a meeting. 3. PUBLIC COMMENT There was no public comment. 4. USE TAX VOTER P OLLING UPDATE (CHIEF FINANCIAL OFFICER PAUL REDMOND) Chief Financial Officer Paul Redmond introduced Courtney Sievers with Magellan Strategies who delivered her presentation on the results of the Use Tax voter polling survey performed in June 2024 by Magellan Strategies. She answered questions from the committee members, councilors and staff. As this was a work session, no action was taken. 5. GENERAL UPDATE ON 2024 FINANCIALS (CHIEF FINANCIAL OFFICER PAUL REDMOND) Chief Financial Officer Paul Redmond delivered his presentation on the financial results through end of April 2024. As this was a work session, no action was taken. 6. VILLAGE (AT AVON) (CHIEF FINANCIAL OFFICER PAUL REDMOND AND TOWN MANAGER ERIC HEIL) Chief Financial Officer Paul Redmond and Town Manager Eric Heil delivered the slides on the Village at Avon financials. As this was a work session, no action was taken. 7. FISCAL PEER COMMUNITY COMPARISON STUDY (CHIEF FINANCIAL OFFICER PAUL REDMOND) Chief Financial Officer Paul Redmond delivered his slides on the Fiscal Peer Community Comparison Study. He explained the last study was completed in 2022 and the Town is looking to create an updated report in 2025. As this was a work session, no motion was made. 8. NEXT COMMITTEE MEETING DATE During it’s last meeting, the Finance Committee Members agreed to meet bi-monthly on the 3rd Monday of the month. The next meeting is Monday September 16, 2024 at 5:00 p.m. (or earlier) at the Mount Holy Cross meeting room at Avon Town Hall. The agenda will include consideration for a resolution to support a use tax ballot question. There would be a review of the RFP for the 2025 fiscal peer community comparison study and a few other items. The 2 members present expressed they are flexible with the meeting time on September 16 and asked staff to check with the other 4 members on FINANCE COMMITTEE MEETING MONDAY, JULY 15, 2024 HYBRID MEETING; IN-PERSON AND ON TEAMS Finance Committee Meeting, July 15, 2024 2 | 2 their preferred meeting time for that day and future meetings. The 3rd Monday in November conflicts with the Planning & Zoning Commission due to a schedule adjustment for the Thanksgiving holiday in the 4th week. The 2 members present suggested we can skip the November meeting (& reconvene in January) as the finance team and Town staff will be very busy with the 2025 proposed budget process and in general it’s a busy time of year for everyone. Staff said there would be a committee appreciation dinner for all Avon boards, committees & the planning & zoning commission on Tuesday December 17. A save the date will follow. 9. ADJOURNMENT The meeting adjourned, the time was 7:37 p.m. Respectfully Submitted by: Ineke de Jong, Chief Administrative Officer. These minutes are action minutes and only a summary of the proceedings of the meeting. They are not intended to be comprehensive or to include each statement, person speaking or to portray with complete accuracy. The most accurate records of the meeting are the audio of the meeting, which is housed in the Town Clerk' s office.