HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 09-02-08
Central Contra Costa Sanitary District
5019 Imhoff Place, Maltlllez, CA 94553-4392 (925) 228-9500 . wwwcentlalsan olg
BUDGET AND FINANCE COMMITTEE
ACTION SUMMARY
Chair McGill
Member Nejedly
Tuesday, September 2, 2008
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
PRESENT: Mike McGill, Jim Nejedly, Jim Kelly, Randy Musgraves, Debbie Ratcliff
1. CALL MEETING TO ORDER
Chair McGill called the meeting to order at 3 p.m.
2. PUBLIC COMMENTS
None.
3. CLAIMS MANAGEMENT
The Committee reviewed the open claims. There were no new claims. The
Committee will be updated quarterly on litigation costs. Staff also reviewed the
Caltrans settlement approved by the Victim Compensation and Government
Claims Board.
COMMITTEE ACTION: None
4. REPORTS/ANNOUNCEMENTS
a. Review Position Paper approving District Investment Policy.
COMMITTEE ACTION: Recommended Board approval.
b. Review Position Paper adopting Appropriations Limit.
COMMITTEE ACTION: Recommended Board approval.
o Recycled Paper
Budget and Finance Committee
September 2,2008
Page 2
c. Review Position Paper regarding GASS 45 Trust and discuss investment
strategies.
The Committee discussed the different investment risk strategies as well
as the timing of investments. The Committee recommended a moderate
investment strategy approach with 10% of the total unfunded annual
required contribution ($11.2 million) being invested each month over the
next year. This equates to $1. 1 million dollars a month. The dollars would
be moved following Committee review at the first Committee meeting each
month; this allows the flexibility of adjusting the contribution amount when
deemed appropriate based upon economic conditions.
COMMITTEE ACTION: Recommended Board approval. Position
Paper will be brought to the Board tor consideration at the
September 18, 2008 Board Meeting.
5. REVIEW PERIOD 13.2008 FINANCIAL STATEMENTS
COMMITTEE ACTION: Recommended Board approval.
6. REVIEW EXPENDITURES
COMMITTEE ACTION: Recommended Board approval. The Committee
asked why they have not seen more right-ot-way consultant expenses. A
response will be provided at the next Committee meeting.
7. ADJOURNMENT- at 3:40 p.m.