HomeMy WebLinkAbout08/24/2021 - Special MeetingI Div 11=111M
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Newport Beach Public Facilities Corporation
Annual Meeting
August 24, 2021
A. ROLL CALL - 4:00 p.m.
Present: Chair Will O'Neill, Vice Chair Brad Avery, Director Noah Blom, Director Joy Brenner,
Director Diane Dixon, Director Duffy Duffield
Excused: Director Kevin Muldoon
B. PUBLIC COMMENTS — None
C. ELECTION OF OFFICERS
Motion by Chairman O'Neill seconded by Director Blom, to elect Mayor Brad Avery as
Chairperson of the NBPFC, Mayor Pro Tem Kevin Muldoon as the Vice Chairperson of the NBPFC,
and the Council Members as the NBPFC's Board of Directors for the 2021-2022 fiscal year.
With Director Muldoon absent, the motion carried 6-0.
D. APPROVAL OF MINUTES
I. Minutes of the August 25, 2020 Newport Beach Public Facilities Corporation Meeting
Motion by Director Brenner, seconded by Director Blom, to waive reading of subject
minutes, approve as amended, and order filed.
With Director Muldoon absent, the motion carried 6-0.
E. CURRENT BUSINESS
2. Review of Annual Financial Statement
Chief Financial Officer Catlett reported that the only transactions made by the Corporation
entail debt service payments on the City's outstanding debt, which totals about $105.5 million.
In response to Director Dixon's question, Chief Financial Officer Catlett reported that the
Corporation's liabilities are reflected in the City's financial statements, while the Corporation's
financial statement provided with the staff report, reflects only the transactions of the
Corporation, not its long-term liabilities.
Without objection, the Annual Financial Statement was received and filed.
F. ADJOURNMENT - 4:04 p.m.
The agenda was posted on the City's website and on the City Ha electronic bulletin board
located in the entrance of the City Council Chambers a 00 C' Center Drive
August 19, 2021, at 4:00 p.m.
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NBPFC 2021 - Page I