HomeMy WebLinkAboutBUDGET & FINANCE AGENDA 02-19-08
Central Contra Costa Sanitary District
5019 Imlloff Place, Martinez, CA 94553-4392 (925) 228-9500 . wwwcentralsan.org
BUDGET AND FINANCE COMMITTEE
Chair McGill
Member Nejedly
Tuesday, February 19, 2008
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
1. CALL MEETING TO ORDER
2. PUBLIC COMMENTS
3. OLD BUSINESS
* a. Debt service exclusion from overhead calculation
*b. Legal costs for Code revisions
*c. Time-line for creating a proposed Reserve Policy/Guideline
4. CLAIMS MANAGEMENT
5. REPORTS/ANNOUNCEMENTS
a. Review December 2007 Financial Statements (Item 3.b. in Board Packet)
b. Review Six-Month Operations and Maintenance Budget (Item B.a. in
Board Packet)
c. Update on GASB 45 trust options
6. REVIEW EXPENDITURES
7. ADJOURNMENT
*
Attachment
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Overhead Calculation and the use of Bond Interest Expense
Currently, the District does not include debt service payments in the administrative
overhead calculation. The debt was incurred to finance capital projects over and above
our usual annual spending. The principal portion of the debt service was spent on the
projects early on, and now is carried as a liability on the balance sheet that is reduced
each year. The borrowings were not used to help defray the cost of operations and
maintenance, therefore the interest expense associated with the borrowing is usually
not a part of administrative overhead. To confirm this, six other agencies were
surveyed to understand their overhead calculations. None of the agencies include debt
service in their overhead calculation.
Staff is reviewing the feasibility of including the interest expense in the District's fees
and charges with the goal of capturing those costs. This issue will be brought back to
the Finance Committee at a future meeting.
3.'b.
Meyers, Nave
District Code Update
2005 Adhoc Code Review Committee
January 0.00 Meetings
February 0.00
March 0.00 9/11/2007
April 0.00 10/10/2007
May 0.00 10/24/2007
June 0.00 11/28/2007
July 0.00 12/12/2007
August 0.00 1/8/2008
September 301.28 1/22/2008
October 1,834.43 2/14/2008
November 2,572.43
December 4,796.06 1 to 3 meetings more to complete
9,504.20 review
2006
January 5,273.26
February 3,124.89
March 103.00
April 1,327.67 Kent Aim $270/hour
May 3,515.91 Bryan Otake $205/hour
June 3,641.05
July 1,587.75
August 4,575.26
September 4,892.50
October 8,402.74
November 2,133.30
December 4,373.38
42,950.71
2007
January 6,004.90
February 4,231.24
March 2,449.34
April 2,348.40
May 306.94
June 10,730.54
July 3,769.80
August 1,891.60
September 278.10
October 2,345.31
November 5,691.27
December 7,720.37
47,767.81
2008
January
February
March
April
May
June
July
August
September
October
November
December
0.00
Totals $100,222.72
DRAFT
Central Contra Costa Sanitary District
Reserve Policy/Guidelines Preparation Schedule
2/19/08 Draft Schedule to Board Finance Committee (BFC)
2/20-3/14 Staff surveys other agencies and compiles information
3/17/08 Present information to BFC
3/18-4/16 Review material and formulate recommendations
4/17/08 Receive comments and direction form BFC
by 5/30/08 Staff prepares draft documentls for BFC review
6/2/08 Present 1 st draft to BFC - Receive comments and revisions
Set remaining dates depending on project status and direction in June:
Staff prepares 2nd draft
3,~.
Present 2nd draft to BFC - Receive comments and revisions, if any
Staff prepares final draft, if necessary
Present final draft to BFC for approval to go to full Board
Present final draft to full Board
Receive comments/direction from full Board
Staff makes changes, if any
By 11/1/08 Present to full Board for final approval prior to the Financial
Planning Process begins