HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 03-12-07
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Central Contra Costa Sanitary District
BUDGET AND FINANCE COMMITTEE
ACTION SUMMARY
Chair McGill
Member Nejedly
Monday, March 12, 2007
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
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PRESENT: Michael McGill, Jim Nejedly, Randy Musgraves, Debbie Ratcliff
1. CALL MEETING TO ORDER
Chair McGill called the meeting to order at 3:00 p.m.
2. PUBLIC COMMENTS
None.
3. OLD BUSINESS
There were no outstanding questions from the prior meeting.
4. CLAIMS MANAGEMENT
Randy Musgraves, Director of Administration, reported that a small overflow
recently occurred in Walnut Creek creating a small amount of damage and cost.
Cleanup has already been completed.
A brief discussion took place regarding Dias Dorados claims, an item scheduled
for closed session on March 15, 2007.
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Budget and Finance Committee
March 12,2007
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5. REPORTS/ANNOUNCEMENTS
a. Announcement of Arbitrage Rebate Calculation results.
Debbie Ratcliff, Controller, discussed the Arbitrage Rebate Calculation
results. Based on MuniFinancial's calculation, and staff review, no rebate
is required at this time. Another calculation will be done in five years on
the 2002 bonds. Next year, a five-year calculation is due on the 1998
bonds.
b. Review Annual Report of the Deferred Compensation Committee.
(This item is listed as Item 4.c. on the Board Agenda for March 15,
2007 and material is included in the Board Binder)
Ms. Ratcliff discussed the Annual Report of the Deferred Compensation
Committee. There were no concerns generated by the report.
c. Initial discussion of timing of Board review of the 457 and 401 (a) Deferred
Compensation Plan documents.
The Committee discussed two position papers on the District's Deferred
Compensation Plan Documents that will be brought to the Committee April
2, 2007 and to the full Board on AprilSth.
d. There were two outstanding questions that need additional research:
January natural gas usage.
Form 990 for Deferred Compensation Plan filing
6. REVIEW EXPENDITURES
Expenditures were reviewed with special consideration given to a payment made
to James Farrell, who is related to a District employee. The payment was
deemed to be an arms length transaction and similar to the other payments to
purchase easements in the neighborhood. No abnormalities or inconsistencies
were observed.
COMMITTEE ACTION: Reviewed expenditures and recommended
approval.
7. ADJOURNMENT - at 3:45 p.m.