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HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 09-14-09~~ Central Contra Costa Sanitary District BOARD OF DIRECTORS BUDGET AND FINANCE COMMITTEE JAMES A. NEJEDLY President M1f/CHAFE R. ,41cGILL ACTION SUMMARY President Pro Tem BARBARA D. HOCKET7 GERALD R. L UCEY Chair Lucey hfAR/O M. MENES/Nl Member Nejedly PHONE: (925) 228-9500 FAK (925) 676-72!! 4vw4v. cen[ralsan. org Monday, September 14, 2009 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California PRESENT: Jerry Lucey, Jim Nejedly, Jim Kelly, Randy Musgraves, Bill Brennan, Doug Craig, Debbie Ratcliff, Bill Echols, Stephanie King 1. Call Meeting to Order Chair Lucey called the meeting to order at 3 p.m. 2. Public Comments None. 3. Old Business a. Review outstanding questions COMMITTEE ACTION: The Committee indicated that their request to have the CSO Warehouse audited this coming year was unnecessary due to staff having implemented the internal auditor's suggestions included in the report from several years ago. 4. Claims Management a. Review new and outstanding claims There were no new claims. COMMITTEE ACTION: None ®RecyUed Paper Budget and Finance Committee September 14, 2009 Page 2 5. Reports and Announcements a. GASB 45 Trust Report from Financial Advisor (Andrew Brown) The GASB 45 Trust Advisor, Andrew Brown, reviewed the first four months of investment results. The District earned 16.18 percent on the Trust investments since April. COMMITTEE ACTION: The Committee indicated that the Financial Advisor does not need to provide a formal report on a quarterly basis and that every six months would suffice unless a significant change occurs, or if the District should be informed of future projected impacts. b. List of Procurement Card Holders COMMITTEE ACTION: Committee Chair Lucey stated that, in his opinion, there are too many cards issued to employees, but understands staff believes the number of card holders and controls are appropriate. No action was taken. b. Ace Hardware Purchases and Use of Warehouses (Martinez and Walnut Creek) Staff discussed the Ace Hardware purchases which were primarily for the Plant Maintenance group. Staff will be reevaluating stocked and unstocked material and supplies stored in the warehouse to ensure minimal trips to outside vendors such as Ace Hardware. COMMITTEE ACTION: None d. Reimbursement Resolution for Capital Projects (Item 8.a.2 in Board Binder) COMMITTEE ACTION: Recommended full Board review. e. Fiduciary Liability Coverage Memo COMMITTEE ACTION: None Budget and Finance Committee September 14, 2009 Page 3 6. Review Expenditures a. Review expenditures (Item 4.a. in Board Binder) There were two questions that will be researched and brought back at the next Committee meeting. COMMITTEE ACTION: Recommended Board approval. 7. Review July 2009 Financial Statements (Item 4.b. in Board Binder) COMMITTEE ACTION: Recommended Board approval. 8. Adjournment - at 3:44 p.m.