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Home My WebLink AboutAGENDApacket__11-02-20_1202_171 D R A F T NOTICE OF MEETING REGULAR MEETING MUNICIPAL PROPERTY CORPORATION President Roger Riggert Secretary Chester Yon Board Member Deborah Skehen TIME:2:00 P.M. – REGULAR MEETING WHEN:MONDAY, NOVEMBER 2, 2020 WHERE:TOWN HALL, FOUNTAIN CONFERENCE ROOM 16705 E. AVENUE OF THE FOUNTAINS, FOUNTAIN HILLS, AZ Commissioners of the Town of Fountain Hills will attend either in person or by telephone conference call; a quorum of the Town’s Council, various Commission, Committee or Board members may be in attendance at the Commission meeting. Notice is hereby given that pursuant to A.R.S. §1-602.A.9, subject to certain specified statutory exceptions, parents have a right to consent before the State or any of its political subdivisions make a video or audio recording of a minor child. Meetings of the Commission are audio and/or video recorded and, as a result, proceedings in which children are present may be subject to such recording. Parents, in order to exercise their rights may either file written consent with the Town Clerk to such recording, or take personal action to ensure that their child or children are not present when a recording may be made. If a child is present at the time a recording is made, the Town will assume that the rights afforded parents pursuant to A.R.S. §1-602.A.9 have been waived. REQUEST TO COMMENT The public is welcome to participate in Commission meetings. TO SPEAK TO AN AGENDA ITEM, please complete a Request to Comment card, located in the back of the Council Chambers, and hand it to the Executive Assistant prior to discussion of that item, if possible. Include the agenda item on which you wish to comment. Speakers will be allowed three contiguous minutes to address the Commission. Verbal comments should be directed through the Presiding Officer and not to individual Commissioners. TO COMMENT ON AN AGENDA ITEM IN WRITING ONLY, please complete a Request to Comment card, indicating it is a written comment, and check the box on whether you are FOR or AGAINST and agenda item, and hand it to the Executive Assistant prior to discussion, if possible. agenda item, and hand it to the Executive Assistant prior to discussion, if possible. 1.CALL TO ORDER – President Riggert 2.ROLL CALL – President Riggert 3.CALL TO THE PUBLIC Pursuant to A.R.S. §38-431.01(H), public comment is permitted (not required) on matters NOT listed on the agenda. Any such comment (i) must be within the jurisdiction of the Commission, and (ii) is subject to reasonable time, place, and manner restrictions. The Commission will not discuss or take legal action on matters raised during Call to the Public unless the matters are properly noticed for discussion and legal action. At the conclusion of the Call to the Public, individual commissioners may (i) respond to criticism, (ii) ask staff to review a matter, or (iii) ask that the matter be placed on a future Commission agenda. 4.CONSIDERATION OF Approving the November 4, 2019, Meeting Minutes 5.CONSIDERATION OF Electing Officers 6.FINANCIAL REPORT for year ending June 30, 2020 7.ADJOURNMENT CERTIFICATE OF POSTING OF NOTICE The undersigned hereby certifies that a copy of the foregoing notice was duly posted in accordance with the statement filed by the Sister Cities Advisory Commission with the Town Clerk. Dated this ______ day of ____________________, 2020. _____________________________________________ Angela Padgett-Espiritu, Executive Assistant Municipal Property Corporation Meeting of November 2, 2020 2 of 3 The Town of Fountain Hills endeavors to make all public meetings accessible to persons with disabilities. Please call 480-816-5199 (voice) or 1-800-367-8939 (TDD) 48 hours prior to the meeting to request a reasonable accommodation to participate in the meeting or to obtain agenda information in large print format. Supporting documentation and staff reports furnished the Commission with this agenda are available for review in the Town Manager's Office. Municipal Property Corporation Meeting of November 2, 2020 3 of 3 ITEM 4. TOWN OF FOUNTAIN HILLS STAFF REPORT Meeting Date: 11/02/2020 Meeting Type: Municipal Property Corporation Agenda Type: Submitting Department: Administration Prepared by: Angela Padgett-Espiritu, Executive Assistant to Manager, Mayor/Council Staff Contact Information: Angela Padgett-Espiritu, Executive Assistant to Manager, Mayor/Council Request to Municipal Property Corporation (Agenda Language): CONSIDERATION OF Approving the November 4, 2019, Meeting Minutes Staff Summary (Background) Attachments Meeting Minutes FY18-19 Annual Report Form Review Form Started By: Angela Padgett-Espiritu Started On: 10/29/2020 09:37 AM Final Approval Date: 10/29/2020 MPC Page 1 of 2 MINUTES OF BOARD OF DIRECTORS MEETING OF THE TOWN OF FOUNTAIN HILLS MUNICIPAL PROPERTY CORPORATION NOVEMBER 4, 2019 AGENDA ITEM #1 – CALL TO ORDER Secretary/Treasurer called the meeting to order at 3:15 p.m. AGENDA ITEM #2 – ROLL CALL Present at the meeting were the following members of the Board of Directors: Secretary/Treasurer Chester Yon and Director Deborah Skehen. Staff members present were Town Manager Grady Miller, Finance Director David Pock, and Executive Assistant Angela Padgett-Espiritu. Absent from the meeting was Board of Directors, President Roger Riggert. AGENDA ITEM #3 – CALL TO THE PUBLIC No one from the public was present. AGENDA ITEM #4 – CONSIDERATION OF APPROVING THE NOVEMBER 8, 2018 MEETING MINUTES Director Skehen called for a motion to approve the minutes of the November 8, 2018 meeting. Upon motion duly made by Director Skehen and seconded by Secretary/Treasurer Yon, the minutes were unanimously approved. AGENDA ITEM #5 – CONSIDERATION OF ELECTING OFFICERS Secretary/Treasurer Yon moved to elect Roger Riggert as President, Director Skehen seconded the motion which carried unanimously by those present. Director Skehen moved to elect Chester Yon as Secretary/Treasurer, Secretary/Treasurer Yon seconded the motion which carried unanimously by those present. AGENDA ITEM #6 – FINANCIAL REPORT FOR YEAR ENDING JUNE 30, 2019 Finance Director David Pock reviewed the attached financial report for the Municipal Property Corporation. AGENDA ITEM #7 – ADJOURNMENT Secretary/Treasurer Yon called for a motion to adjourn. Upon motion duly made by Secretary/Treasurer Yon and seconded by Director Skehen, the meeting adjourned at 3:24 p.m. MPC Page 2 of 2 TOWN OF FOUNTAIN HILLS MUNICIPAL PROPERTY CORPORATION By ___________________________________ Secretary/Treasurer Chester Yon PREPARED BY: _______________________________ Angela Padgett-Espiritu, Executive Assistant CERTIFICATION I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the meeting of the Board of Directors of the Municipal Property Corporation of the Town of Fountain Hills held on the 4th day of November 2019. I further certify that the meeting was duly called and that a quorum was present. DATED this 5th day of November 2019. _________________________________ Angela Padgett-Espiritu, Executive Assistant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iscal Year 2019/20 Revenue Source 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 Town TPT $8,309,100 $8,874,453 $9,095,347 $9,221,943 $10,200,419 $11,327,516 Charges for Services 161,376 176,541 188,469 359,614 254,122 181,105 Licenses and Permits 554,691 919,397 1,279,572 1,200,838 1,415,817 1,899,715 Franchise Fees 349,414 352,673 360,320 367,119 421,682 423,947 Fines and Forfeitures 154,024 167,491 185,279 211,190 152,161 120,340 Lease Rental Payments 252,585 269,754 255,024 284,090 279,076 277,345 Other 67,779 45,501 47,504 54,516 85,149 82,938 State Shared Sales Taxes 1,957,505 2,055,241 2,131,484 2,192,044 2,352,502 2,476,030 State Shared Income Taxes 2,506,685 2,722,433 2,707,673 2,923,870 3,032,329 2,976,998 Total $14,313,158 $15,583,484 $16,250,673 $16,815,224 $18,193,258 $19,765,936 HISTORICAL EXCISE TAX COLLECTIONS Excise Tax Collections Wedbush Securities $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 Fiscal Year 24 )LVFDO<HDU :HGEXVK6HFXULWLHV 081,&,3$/3523(57<&25325$7,21%21'6 %RQG6DOH6XPPDU\DQG'HEW6HUYLFH5HTXLUHPHQWV 25 )LVFDO<HDU :HGEXVK6HFXULWLHV %21'6$/(6800$5< 72:12))2817$,1+,//6$5,=21$ 081,&,3$/3523(57<&25325$7,21 (;&,6(7$;5(9(18(5()81',1*%21'6(5,(6 35,9$7(3/$&(0(17 3XUSRVHRI)LQDQFLQJ 7KH%RQGVZHUHLVVXHGWRUHIXQGSULRUERQGVDVIROORZV 0DWXULW\ 3ULQFLSDO $PRXQW 'DWH $PRXQW %HLQJ 5HGHPSWLRQ 5HGHPSWLRQ 5HIXQGHG,VVXH -XO\ 2XWVWDQGLQJ 5HIXQGHG 'DWH 3ULFH 6HULHV5HIXQGLQJ%RQGV 1$ 1$ 'DWHG'DWH -XQH 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TOWN OF FOUNTAIN HILLS STAFF REPORT Meeting Date: 11/02/2020 Meeting Type: Municipal Property Corporation Agenda Type: Submitting Department: Administration Prepared by: Angela Padgett-Espiritu, Executive Assistant to Manager, Mayor/Council Staff Contact Information: Angela Padgett-Espiritu, Executive Assistant to Manager, Mayor/Council Request to Municipal Property Corporation (Agenda Language): CONSIDERATION OF Electing Officers Staff Summary (Background) Form Review Form Started By: Angela Padgett-Espiritu Started On: 10/29/2020 09:41 AM Final Approval Date: 10/29/2020 ITEM 6. TOWN OF FOUNTAIN HILLS STAFF REPORT Meeting Date: 11/02/2020 Meeting Type: Municipal Property Corporation Agenda Type: Submitting Department: Administration Prepared by: Angela Padgett-Espiritu, Executive Assistant to Manager, Mayor/Council Staff Contact Information: Angela Padgett-Espiritu, Executive Assistant to Manager, Mayor/Council Request to Municipal Property Corporation (Agenda Language): FINANCIAL REPORT for year ending June 30, 2020 Staff Summary (Background) Attachments FY19-20 Annual Report Form Review Form Started By: Angela Padgett-Espiritu Started On: 10/29/2020 09:42 AM Final Approval Date: 10/29/2020 Municipal Property Corp Debt ServiceFund ASSETS Cash and Investments 11,537$ Intergovernmental Receivable - Total Assets 11,537$ LIABILITIES AND FUND BALANCE Liabilities: Accounts Payable -$ Total Liabilities - Fund Balance: Restricted 11,537 Total Fund Balance 11,537 Total Liabilities and Fund Balance 11,537$ TOWN OF FOUNTAIN HILLS MUNICIPAL PROPERTY CORPORATION Balance Sheet - Governmental Funds As of June 30, 2020 FY19-20 Actual FY19-20 Budget REVENUES Investment Earnings 1,866$ 840$ Total Revenues 1,866 840 EXPENDITURES Debt Service: Principal 300,000 300,000 Interest 4,860 4,860 Fiscal Charges 1,010 1,010 Total Expenditures 305,870 305,870 Excess (Deficiency) of Revenues Over/(Under) Expenditures (304,004) (305,030) OTHER FINANCING SOURCES (USES) Transfer in 303,235 303,235 Total Other Financing Sources (Uses)303,235 303,235 Net Change in Fund Balance (769) (1,795) Fund Balance, Beginning of Year 12,306 12,306 Fund Balance, End of Year 11,537$ 10,511$ TOWN OF FOUNTAIN HILLS MUNICIPAL PROPERTY CORPORATION Statement of Revenues, Expenditures and Changes in Fund Balance for Fiscal Year Ended June 30, 2020