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HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 02-04-08 5. d. I) Central Contra Costa Sanitary District I ff PI M t. CA 94553 4392 (925) 228-9500 . www.centra san.org 5019 1m 10 ace, al lIlez, - BUDGET AND FINANCE COMMITTEE ACTION SUMMARY Chair McGill Member Nejedly Monday, February 4,2008 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California PRESENT: Mike McGill, Jim Nejedly, Jim Kelly, Randy Musgraves, Debbie Ratcliff, Colette Curtis-Brown 1 . CALL MEETING TO ORDER Chair McGill called the meeting to order at 3 p.m. 2. PUBLIC COMMENTS None. 3. OLD BUSINESS a. Time-line for GASB 45 trust options research COMMITTEE ACTION: Discussed the proposed schedule. Staff will report on the progress at each Committee meeting until completion. b. Report of District-wide and individual memberships COMMITTEE ACTION: Discussed District and employee memberships. One Board member commented that the number of employee memberships looked low in comparison to the District- wide number. Committee requested the General Manager to review the appropriateness of staff joining the National Society for Professional Engineers, American Society for Civil Engineers, and ft fa, Recycled Paper - the California Land Surveyor Association in support of the Board's recent strategic planning direction to have a stronger presence in the industry. c. Review Storm Water Program Agreement COMMITTEE ACTION: Reviewed how the District invoices under the Storm Water Program. Staff will report back on how charges are calculated on the clean water side and applied to businesses. The agreement needs to be reviewed to determine if all costs are being captured, and staff is to report back on what the contract overhead is. d. Response from Actuary (AON Consulting) regarding billing for GASB 45 COMMITTEE ACTION: The Committee expressed a preference to pay the invoice and not to rehire AON again for future actuarial work. 4. CLAIMS MANAGEMENT COMMITTEE ACTION: One new claim was reported on 3 Blade Court in Walnut Creek. An overflow occurred in the yard, which was cleaned up. The customer was satisfied with the work. The Kaiser claim was discussed. 5. REPORTS/ANNOUNCEMENTS a. Review November 2007 Financial Statements (See Item 3.b. in Board Binder) COMMITTEE ACTION: The November financial statements were reviewed. The Committee asked that the full Board have an update, which staff will be providing at the second Board meeting in February as part of the six-month financial evaluation. b. Review updated overhead rate for 2008 COMMITTEE ACTION: Reviewed the overhead rate calculation. Staff was asked to research why debt service is excluded from overhead. Staff will provide an explanation at the next Committee meeting. c. Review Emergency Procurement Card Proposal COMMITTEE ACTION: Committee reviewed staff's proposal to establish separate Procurement Cards with increased limits for the General Manager, Department Director, Controller, Purchasing Manager and the Purchasing staff. Staff was asked to research the Bank's notification procedures to ensure misuse would not occur. Staff will report back at the next Committee meeting. 6. REVIEW EXPENDITURES COMMITTEE ACTION: Expenditures were reviewed and there were no outstanding questions. 7. FUTURE ITEMS a. Provide a schedule for developing a Reserve Policy. b. Requested legal costs associated with the District Code revisions. 8. ADJOURNMENT - at 3:52 p.m.