The Calistoga Public Facilities Corporation convened on September 7, 2024, to discuss key financial matters, primarily focusing on the status of outstanding loans. The meeting began with a roll call, confirming the presence of all board members except for one.
The main agenda item was a staff report presented by Finance Director Connie Cardenas, who provided an overview of the corporation's financial obligations. Notably, she announced the successful payoff of a loan exceeding $354,000, which has reduced the corporation's liabilities. Currently, the total outstanding debt stands at approximately $8.9 million, which includes loans for water, wastewater, and the general fund.
During the discussion, council members inquired about the nature of the debt service in comparison to other municipalities. Cardenas explained that the debt levels are relatively low, particularly concerning the general fund. This prompted further dialogue about potential funding for future projects, including the development of the fairgrounds, with some members expressing caution given the existing debt.
The meeting concluded with a motion to acknowledge and file the staff report, which was unanimously approved by the board. This session highlighted the corporation's ongoing financial management and the importance of maintaining a balanced approach to future funding initiatives.