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HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 01-12-09 5.cl.~)c.) Central Contra Costa Sanitary District 5019 1Ill110ff Place, Martlllez, CA 94553-4392 (925) 228-9500 . wwwcentralsan org BUDGET AND FINANCE COMMITTEE Chair McGill Member Nejedly ACTION SUMMARY Monday, January 12, 2009 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California PRESENT: Jerry Lucey, Jim Nejedly, Jim Kelly, Randy Musgraves, Debbie Ratcliff 1. CALL MEETING TO ORDER Chair Lucey called the meeting to order at 3 p.m. 2. PUBLIC COMMENTS No comments. 3. OLD BUSINESS None. 4. CLAIMS MANAGEMENT a. Review Outstanding Claims There was one new claim to report. A total of $2,500 was set aside to cover an overflow that took place in Rossmoor. The overflow occurred outside at a manhole. Restoration Management has cleaned the area. COMMITTEE ACTION: Received report. 5. REPORTS/ANNOUNCEMENTS a. Review Administrative Overhead Percentage ft "., Recycled Paper Budget and Finance Committee January 12, 2009 Page 2 Staff reported that the new administrative overhead percentage for fiscal year 2009-10 is178%. A position paper is included on the January 15, 2009 Board Agenda requesting Board approval. Staff also reported on a correction to the overhead rate for last year which affected only the Clean Water Program billing. An $8,900 credit will be included on the next invoice to the Clean Water Program. COMMITTEE ACTION: Recommends Board approval of the new administrative overhead rate for fiscal year 2009-2010. b. GASB 45 Trust Investing in the GASB 45 trust was discussed. COMMITTEE ACTION: The Committee asked that this topic be brought back to the next Committee meeting. The Board approved investing on a monthly basis over twenty (20) months at the November 6,2008 meeting. c. Update on AIG There was no new information on AIG. COMMITTEE ACTION: The Committee asked that this item be removed as a standing agenda item. d. Articles on CalPERS and City of San Jose. Several articles were provided that discussed losses in the pension funds. COMMITTEE ACTION: None. e. Announcement - Staff announced that the Board will receive the Financial Planning and Policy Workshop binder at the January 15, 2009 Board Meeting COMMITTEE ACTION: None. f. Review agenda for the annual meeting of the CCCSD Facilities Financing Authority COMMITTEE ACTION: Reviewed the agenda. Budget and Finance Committee January 12, 2009 Page 3 6. REVIEW EXPENDITURES There were three outstanding questions that staff will research and bring back to the next Committee meeting. The Committee also asked that staff continue to work with supply venders to order "green products" and to monitor the costs charged by Air Systems Inc. to ensure that the charges do not become excessive. a. Detail of selected P-Card expenditures Staff reviewed P-Card expenditures over $2,000 that had a general description of "Procurement Purchases." COMMITTEE ACTION: Recommended Board approval of expenditures. The Committee asked staff to continue to provide the detail on all purchases over $2,000 that has the description of "Procurement Purchases" on a monthly basis. 7. REVIEW NOVEMBER 2008 FINANCIAL STATEMENTS Staff provided a review of November 2008 Financial Statements. COMMITTEE ACTION: Recommended Board approval. 8. ADJOURNMENT- at 3:30 p.m.