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Opinion

Andeen: A lot of hard work happening inside Paradise Valley Town Hall

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2020 has been quite a year full of surprises.

Our resorts and houses of worship have struggled, and neighborhoods have been challenged. The town has not been immune to COVID and my deepest respect and sympathy to those affected.

Staff and police have been working hard to keep residents informed on pandemic and social unrest related items. I have been focused on public health, public safety, and finance.

Having a background in accounting and finance, and an MBA, with 20 years in the banking industry, offers a unique perspective on council; focusing on the financial side of the business. Additionally, I was a Paradise Valley Police Department Volunteer prior to council and my family has been embedded in this town since the late 40s/early 50s.

Having grown up in Paradise Valley, I can say firsthand, our neighborhoods are changing rapidly. Short term rentals, building pad height, development, mountain preservation continue to be areas of focus. We are in the process of updating our General Plan, which requires resident participation. Please get involved and participate.

I attend monthly Public Safety Personnel Retirement System Board of Trustee meetings to gain perspective on return ratios, trends, investment policy changes within the system and hear about efforts from other municipalities in paying down their unfunded liability.

Why is PSPRS important to our residents? Financially, the town currently has an unfunded liability estimated at $7M to the pension retirement system on top of our normal annual cost. I feel that debt may grow given the historically low returns in the marketplace.

Fortunately, a prior council made pay-down of the unfunded liability a priority and we are currently in a better place than previous years; but this can change.

We have moved to Priority Two funding in our current budget, which includes an additional payment that had been halted earlier in the year. The town will resume payments, but cautiously. I would also like to see a reserve fund instituted in our investment policy to mitigate potential shortfalls in the future.

I also attend the monthly Board of Investment meetings at the Arizona State Treasurer’s office. This meeting reviews the investment pools offered through the state of which the town is invested looking for any insight and ways to grow our investment returns while maintaining what is allowed in our investment policy of stability, then liquidity, then yield.

Additionally, this summer, I participated with two other council members and our chief financial officer in a working committee in review of our banking and investment policy. We made recommendations to the CFO and look forward to continuing the conversation in upcoming council agendas.

Heads up! HB2318, Distracted Driving law, goes into effect January 2021. As Chair of the Advisory Committee on Public Safety, the committee, will work with PD on messaging to the community.

In alignment with our mission, the ACOPS committee works with PD to engage the community on public safety related matters.

Stay informed by signing up with AlertPV.

Wishing everyone health, safety, and prosperity.

Editor’s Note: Ellen Andeen is an elected member of Paradise Valley Town Council.