HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 06-01-09Central Contra Costa Sanitary District
BUDGET AND FINANCE COMMITTEE
ACTION SUMMARY
Chair Lucey
Member Nejedly
Monday, June 1, 2009
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
PRESENT: Jim Nejedly, Jerry Lucey, Jim Kelly, Debbie Ratcliff, Jarred Miyamoto-Mills
1. CALL MEETING TO ORDER
Chair Nejedly called the meeting to order at 3 p.m.
2. PUBLIC COMMENTS
None.
3. OLD BUSINESS
a. Review Outstanding Questions
One outstanding question was discussed.
COMMITTEE ACTION: None
4. CLAIMS MANAGEMENT
a. Review Outstanding Claims
There were no new claims to report.
COMMITTEE ACTION: None
® Recycle) Paper
Budget and Finance Committee
June 1, 2009
Page 2
5. REPORTS/ANNOUNCEMENTS
a. State Financial Crisis
The Committee discussed the possibility of the State borrowing 100% of
the District's allotted property tax.
COMMITTEE ACTION: The Committee asked that this topic continue
to be a standing item on the Budget and Finance Committee agenda.
Also, the Committee asked staff to review the possibility of reducing
the 2009-2010 O&M Budget by 10%.
b. Potential Sale of Bonds
The possibility of issuing $30 million in Revenue Bonds was discussed.
The Committee indicated that the District needs to look at all expenditures
to determine where reductions could be made, prior to issuing debt.
COMMITTEE ACTION: Recommended discussing the issuance of
Bonds with the full Board at a future meeting.
c. Review Position Paper on O&M Budget Public Hearing (Item 4.b. in Board
Binder)
The position paper was reviewed.
COMMITTEE ACTION: None
d. Review Position Paper on Deferral of Connection Fees (Item 8.a. in Board
Binder)
Jarred Miyamoto-Mills discussed options available to defer connection
fees until closing.
COMMITTEE ACTION: Recommended full Board discussion.
6. REVIEW EXPENDITURES (Item 3.a. in Board Binder)
a. Review expenditures
COMMITTEE ACTION: Recommended Board approval of
expenditures.
Budget and Finance Committee
June 1, 2009
Page 3
b. Review P-Card expenditures
COMMITTEE ACTION: Reviewed expenditures.
7. REVIEW APRIL 2009 Financial Statements (Item 3.b. in Board Binder)
COMMITTEE ACTION: The Committee asked for clarification on the
variance explanation pertaining to the Alhambra Valley Assessments.
Recommend Board approval of financial statements.
8. ADJOURNMENT - at 3:35 p.m.