HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 08-02-10Central Contra Costa Sanitary District
REGULAR MEETING OF THE BOARD OFDlRECTORS:
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BUDGET AND FINANCE COMMITTEE ''~~~~°°^`~'"re^~
ACTION SUMMARY
Chair Nejedly
Member Hockett
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PHONE: (925) 228-9500
FAX: (925) 676-72/l
www.cenlralsan.org
Monday, August 2, 2010
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
PRESENT: Jim Nejedly, Barbara Hockett, Jim Kelly, Randy Musgraves, Debbie Ratcliff
1.
2.
3.
4.
Call Meeting to Order
Chair Nejedly called the meeting to order at 3 p.m.
Public Comments
None.
Old Business
COMMITTEE ACTION: Received the report.
Claims Management
a. Review new and outstanding claims
Staff announced that the auto claim resulting from a District employee
backing out of a parking space and being struck by another vehicle has
been settled. The District was at fault due to backing out, per the
California vehicle code (21803 (b)). The total settlement was $7,286.02.
COMMITTEE ACTION: Received the report.
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Budget and Finance Committee
August 2, 2010
Page 2
b. Potential Litigation from Ms. Nellie Freeman
Staff announced that a summons was received on August 2, 2010 naming
the District as the responsible entity for injury caused to Ms. Freeman.
She was riding her bicycle northbound on Danville Boulevard, between
Rae Anne Drive and Lewis Lane, when she struck the District's manhole
with atwo-inch rise greater than the surrounding pavement. District
Counsel Kenton Alm is contacting the Contra Costa County attorney who
originally received the suit for additional information. Staff is investigating
the facts in order to provide the Board and County with the appropriate
recommended response. This was an informational report to the
Committee.
COMMITTEE ACTION: Received the report.
5. Reports and Announcements
a. GASB 45. Trust Review - 2"d Quarter Report
Mr Andrew Brown from HighMark Capital reviewed the performance of
the GASB 45 Trust, reporting earnings of 19.45% from inception to date,
12.87% for the last 12 months and -5.36% for the last three months.
COMMITTEE ACTION: Received the report.
Review GASB 45 Trust Investment Policy
Andrew Brown discussed the current economy and HighMark Capital's
view of future stock and bond earnings over the next few years, stating
that bonds will not be as strong, -and stocks should have a stronger return.
The moderate strategy and the moderate aggressive strategy were
discussed. A discussion of monthly versus quarterly or annual deposits
into the Trust also occurred.
COMMITTEE ACTION: Recommended continuing with the moderate
investment strategy and monthly deposits of GASB 45 actuarily
determined contributions. Staff will provide information regarding
the new monthly amount required to fully fund the Annual Required
Contribution in the next few months.
Budget and Finance Committee
August 2, 2010
Page 3
c. Review Position Paper on Public Notice Regarding Appropriations Limit
(Item 4.d. in Board Binder)
COMMITTEE ACTION: Recommended Board approval.
d. Review Position Paper on Employee Computer Hardware Purchase
Assistance Program (Item 4.e. in Board Binder)
COMMITTEE ACTION: Recommended Board approval.
e. Review Position Paper Setting a Public Hearing to Consider an Ordinance
to Amend Chapter 6.12 of the District Code to Provide an Option for
Installment Payment of Capacity and Pumped Zone Fees (Item 4.q. in
Board Binder)
COMMITTEE ACTION: Recommended Board approval.
6. Review Expenditures (Item 4.a. in Board Binder)
a. Review expenditures
'b. Review P-Card expenditures
COMMITTEE ACTION: Recommended Board approval.
7. Review June 2010 Financial Statements (Item 4. b. in Board Binder)
COMMITTEE ACTION: Recommended Board approval.
8. Adjournment - at 3:45 p.m.
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