HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 05-12-08
Central Contra Costa Sanitary District
5019 Imlloff Place, Martinez, CA 94553-4392 (925) 228-9500 . www.centralsan.org
BUDGET AND FINANCE COMMITTEE
ACTION SUMMARY
Chair McGill
Member Nejedly
Monday, May 12, 2008
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
1. CALL MEETING TO ORDER
Chair McGill called the meeting to order at 3 p.m.
2. PUBLIC COMMENTS
None.
3. OLD BUSINESS
There were no outstanding questions from the previous meeting.
4. CLAIMS MANAGEMENT
Three existing overflow claims were discussed; one on Lorna Vista in
Orinda, the second on Pine St. in Walnut Creek, and the third on Walnut St.
in Lafayette.
A new general liability claim was discussed FOR 12 La Cintilla in Orinda.
5. REPORTS/ANNOUNCEMENTS
a. Review draft Position Paper for review and approval of Board Member
conference/meeting attendance
COMMITTEE ACTION: Reviewed Position Paper. Recommended
that the Board approve continuing the current process, with two
changes:
A
".. Recycled Paper
Budget and Finance Committee
May 12, 2008
Page 2
(1) In addition to inclusion in the budget, Board Member
conference/meeting attendance and the dollar amount
budgeted will be highlighted as part of the budget process and
presentation.
(2) Board Members will announce at a Board Meeting, in advance
of their attendance, any upcoming conferences that have been
approved in the budget. Any additional conferences a Board
Member may wish to attend that were not listed in the budget
will need separate Board approval in advance.
b. Kick-off meeting with Andrew Brown from HighMark Capital Management
(GASB 45 Investment Options)
COMMITTEE ACTION: Andrew Brown, Investment Advisor from
HighMark Capital, discussed investment strategies and risk factors
with the Committee. The Committee recommended:
a. Develop two investment policies: one designed to invest
moderately, and one moderately aggressive.
b. Provide a workshop for the full Board to reach agreement
on an investment strategy.
c. Settlement of Bay Area Air Quality Management District Notices of
Violation
COMMITTEE ACTION: Staff informed the Committee that BAAQMD
presented the District with a settlement offer in the amount of $5,000
recognizing that the District responded rapidly and diligently to the
incidents. Staff has sent a check for $5,000 to BAAQMD to finalize
the settlement.
6. REVIEW EXPENDITURES
COMMITTEE ACTION: Staff was asked to look at the possibility of financial
savings by changing fuel suppliers. Staff will bring back information at a
future Committee meeting. The Committee recommends approval of
expenditures.
7. ADJOURNMENT - 4:35 p.m.