HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 09-28-09~~ Central Contra Costa Sanitary District BUDGET AND FINANCE COMMITTEE ACTION SUMMARY Chair Lucey Member Nejedly Monday, September 28, 2009 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California BOARD OF D/RECTORS JAMF.SA. NEJEDLY Yre.rident MLCHAEL K. McGILL Yre.cident Yro Tem BARBARA D.HOCtiETT GERALD R. l,UCEY MAR/O M. MF.'NESINI PF/ONE: (925) 228-9500 FAX: (925) 676-72! l www. cen(ralsan. org PRESENT: Jerry Lucey, Jim Nejedly, Jim Kelly, Randy Musgraves, Debbie Ratcliff 1. Call Meeting to Order Chair Lucey called the meeting to order at 3 p.m. 2. Public Comments No comments. 3. Old Business a. Review outstanding questions The Committee asked when the Vehicle Report they previously requested will be brought back to the Committee. General Manager Jim Kelly committed to submitting the response at the next Committee meeting. COMMITTEE ACTION: No action. 4. Claims Management a. Review new and outstanding claims There were no new claims to report. COMMITTEE ACTION: Received report. Recycled Paper Budget and Finance Committee September 28, 2009 Page 2 5. Reports and Announcements a. Draft Audited Financial Statements June 30, 2009 (John Cropper, Cropper Accountancy Corp.) The external auditor, John Cropper, from Cropper Accountancy Corporation, reported that there were no significant issues and he was issuing an unqualified opinion of the District's financial statements. The Committee requested a summary of his findings regarding controls and staff performance. He stated that the District has strong internal controls and does an excellent job. He also noted that the IT area was audited and that it excels compared to other agencies. Overall, Mr. Cropper did not find any items of concern to bring to the Board's attention. COMMITTEE ACTION: Receive audited financial statements. b. Memo Regarding Prop 1A Securitization Program (Item 6.a.3) in Board Binder) The Committee reviewed the memo regarding the Prop 1A Securitization Program and concurred with staff's recommendation not to pursue repayment via the Program. COMMITTEE ACTION: The Committee concurred with the staff recommendation. c. Report on Contra Costa County Employees' Retirement Association's (CCCERA) request to study "depooling" non-active liabilities COMMITTEE ACTION: Received the report. d. White Paper on Refinancing Existing Debt and Issuing New Debt (Items 6.a.1) and 6.a.2) in Board Binder) COMMITTEE ACTION: The Committee asked that staff bring the issue of whether or not to debt finance to the Board for a vote. e. District 2009-2010 Insurance Coverage. COMMITTEE ACTION: Received the report. Budget and Finance Committee September 28, 2009 Page 3 6. Review Expenditures a. Review expenditures (Item 4.a. in Board Binder) COMMITTEE ACTION: Recommended Board approval of the expenditures. The Committee asked for a legal opinion .regarding paying expenses for a Board Member to attend a County Supervisor breakfast meeting. b. Review P-Card expenditures COMMITTEE ACTION: The Committee asked for the details surrounding a reported fraudulent transaction on a District employee's P-card. 7. Review August 2009 Financial Statements (Item 4.b. in Board Binder) COMMITTEE ACTION: Recommended Board approval of the August 2009 Financial Statements. 8. Adjournment - at 3:50 p.m.