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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.