HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 11-03-08
Central Contra Costa Sanitary District
5019 Imlloff Place, Maltlllez, CA 94553-4392 (925) 228 9500 I
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BUDGET AND FINANCE COMMITTEE
Chair McGill
Member Nejedly
ACTION SUMMARY
Monday, November 3,2008
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
No comments.
3. OLD BUSINESS
a. Payment History for Bulldog Gas & Power
COMMITTEE ACTION: Received payment history.
b. Cost Benefit Analysis of Verizon vs. Nextel
COMMITTEE ACTION: Received analysis.
4. CLAIMS MANAGEMENT
a. Review Outstanding Claims
There were no new or outstanding claims to report
COMMITTEE ACTION: Received report.
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Budget and Finance Committee
November 3,2008
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5. REPORTS/ANNOUNCEMENTS
a. Bond Sale Collusion Regarding Contra Costa County
Staff reported on the law suit filed by Contra Costa County against
multiple financial agencies.
COMMITTEE ACTION: The Committee asked staff to verify if the
collusion included the underwriting of the bonds or if it dealt strictly
with the investment of bond proceeds into Guaranteed Investment
Contracts and SWAPS.
b. Update on AIG
COMMITTEE ACTION: Received current articles on the AIG bailout.
c. Economic Update
Staff provided an economic overview and discussed how the Ten Year
Plan will potentially be affected.
COMMITTEE ACTION: The Committee received the report and asked
that a memo be drafted for the full Board to keep all Board members
informed.
6. REVIEW SEPTEMBER 2008 FINANCIAL STATEMENTS
The Committee had several questions on the September Financial Statements
that staff will research and bring back to the next Committee meeting.
COMMITTEE ACTION: Recommended Board approval.
7. REVIEW EXPENDITURES
There were two outstanding questions that staff will research and bring back to
the next Committee meeting. The Committee also asked that staff provide a
report every six months on legal expenses.
COMMITTEE ACTION: Recommended Board approval.
8. ADJOURNMENT-at 3:55 p.m.