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HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 09-04-07 ~ 5019 Imhoff Placc MiJrtll1cz, CA 94553-4392 (925) 228-9500 . wwwcentralsanorg Central Contra Costa Sanitary District BUDGET AND FINANCE COMMITTEE ACTION SUMMARY Chair McGill . Member Nejedly Tuesday, September 4, 2007 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California PRESENT: Michael McGiII,.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 None. 3. OLD BUSINESS None. 4. CLAIMS MANAGEMENT a. Three open claims were reviewed: 1. Dias Dorados, Orinda- Staff provided an update regarding storm drain issues and shifting landslide issues. An Engineer's report is to be provided to the District. Upon receipt of the report, staff will evaluate the issues and impacts to the District and report in Closed Session due to threat of litigation. 2. 163 Zander Drive, Orinda- Staff provided an update regarding landslide issues. The District's Engineering consultant is finishing evaluation and report. Upon completion of the report, staff will evaluate the issues and impacts to the District and report in Closed Session due to threat of litigation. ft ,,~ Recycled Paper Budget and Finance Committee September 4,2007 Page 2 3. Employee involved in a no-fault accident, Orinda - Staff reviewed an automobile accident where a District truck was rear-ended. Individual who hit the truck is reporting that District employee backed into him. The Budget and Finance Committee is recommending going to small claims court to collect damages. The Committee also recommends that similar claims be brought before the Committee to evaluate the facts prior to providing the Board with a recommendation. 5. REPORTS~NNOUNCEMENTS a. Reviewed FY 2007-08 Appropriations Limit (Item 10.a. in Board Agenda Packet). COMMITTEE ACTION: Recommended approval by full Board. b. Received adjusted June 2007 Year-End Financial Statements (Item 10.b. in Board Agenda Packet). Final year-end results were reviewed. COMMITTEE ACTION: Reviewed year-end results and accepted explanations for changes. c. Reviewed recommended changes to District Investment Policy. COMMITTEE ACTION: Three new investment options were discussed. All three are conservative investments and are in line with the District's Investment Policy of liquidity, safety and return on investment. The Committee recommends bringing these changes to the full Board at the next Board meeting. 6. REVIEW EXPENDITURES Expenditures were reviewed and there were no outstanding questions. COMMITTEE ACTION: Recommended approval by full Board. 7. ADJOURNMENT - at 4:00 p.m.