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HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 04-02-07 Central CQntra Costa Sanitary Distrid BUDGET AND FINANCE COMMITTEE ACTION SUMMARY Cha,r McGill Mem b~r Nejed Iy Monday" April 2, 2007 3:PO p.m. Executive donference Room 5019 Imhoff Place Martinez, California PRESENT: Mike McGill, Jerry Lucey (Alt$rnate), Randy Musgraves, Debbie Ratcliff. 1. CALL MEETING TO ORDER Chair McGill called the meeting ~o order at 3 p.m. 2. PUBLIC COMMENTS None. 3. OLD BUSINESS Answers to questions from the I,st meeting were accepted. 4. CLAIMS MANAGEMENT a. Proposed rejection of claim for damages by Daniel and Eileen Scanlon regarding property located at 21 Dias Dorados, Orinda (See Board Agenda Item 4.k.). The Committee did not haye any additional questions. In the future, staff will add the following wording to the Board agenda for this and similar items: "Reviewed by the Budget and Finance Committee." A "I Recycled Paper Budget and Finance Committee April 2, 2007 Page 2 b. Proposed rejection of claim for damages by Calvin Cantrell regarding property loss at the District Treatment Plant (See Board Agenda Item 4.1.). The Committee asked whoiowned the road where Mr. Cantrell's motorcycle was parked. Mir. Musgraves stated that he believed the District owned it. (Additional research confirms that the District owns the road.) 5. REPORTS/ANNOUNCEMENTS a. Review of Position Papers to adopt revised 401 (a) and 457 Deferred Compensation Plans (See Bbard Agenda Items 11.b. and 11.c.). The changes to the plan w~re discussed and the Committee concurred with staff's proposals. The full Board will be asked to adopt the revised Deferred Compensation Plans at the Board meeting Thursday. . b. Capital Revenue Sensitivity to Housing Market. Capital revenue was discussed in terms of forecasting models and connection fees and the sensitivity to the housing market. Discussion followed regar~Ung the decline of the housing market and its direct impact on Connection Fees. Mr. Kelly noted that several financial factors will fluctuate over the next ten years. He also discussed that medical coVerage for employees is likely to be more than the assumed increas. in the ten year financial model, but that some costs will likely be lC)wer. Mr. Kelly stated that he is not proposing any change at t~is time to the recommended $11 rate increase for each of the next two fiscal years. In addition, Committee Chair McGill stated his concern that the $700,000 budgeted for lev~e enhancement in the capital budget was insufficient to protect the lPistrict during a significant rainfall or flood. All agreed that mor, work and discussion will occur in working with all interestedl parties to address the District's concerns regarding the current leve.s. Budget and Finance Committee April 2, 2007 Page 3 6. REVIEW EXPENDITURES There were several questions that need further research: 1. Can staff determine the amount that is carried in Property, Plant and Equipment asset that is rel.ted to areas that could potentially be damaged by a flood? 2. An update was requested on Talavera and Richardson as to what contracts they have and w-'at projects they are still working on. 3. A request was made to include the financial statements on the committee agenda and that any unusual items be discussed with the committee. 4. A question was asked as tei) whether staff is required by State law or statute to submit monthly financial statements to the Board and if so, could they be included under consent. 7. ADJOURNMENT The meeting adjourned at 4:00 pm.