HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 11-29-10
REGULAR MEETING OF THE
CENTRAL CONTRA COSTA
BOARD OF DIRECTORS:
SANITARY DISTRICT
MICHAEL R. MCGILL
BUDGET AND FINANCE COMMITTEE
President
BARBARA D. HOCKETT
President Pro Tem
A C T I O N S U M M A R Y
GERALD R. LUCEY
MARIO M. MENESINI
JAMES A. NEJEDLY
Chair Nejedly
PHONE: (925) 228-9500
Member Hockett
FAX: (925) 676-7211
www.centralsan.org
Monday, November 29, 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. Call Meeting to Order
Chair Nejedly called the meeting to order at 3:00 p.m.
2. Public Comments
None.
3. Old Business
a. Review outstanding questions
1) Details for Bob Murray and Associates invoice
COMMITTEE ACTION: The Committee asked for a breakdown
of hours that support the invoice.
2) Components of District retirement contribution to Contra Costa
County Employees’ Retirement Association (CCCERA)
Staff explained the three components that make up the District’s
portion of the retirement contribution and the fourth component,
Budget and Finance Committee
November 29, 2010
Page 2
which is the employee cost-of-living adjustment (COLA) paid by
employees.
COMMITTEE ACTION: Received the report.
3) Assumptions used in GASB 45 actuarial study compared to
CCCERA actuarial assumptions
Staff explained that two discount rates are used in the actuarial
study that is performed every two years. One represents a pay-as-
you-go rate where the assumption is that the investments are held
in Local Agency Investment Fund (LAIF) over twenty years, and the
higher rate includes the assumption that the District is investing in
the GASB 45 Trust (equity market) over twenty years.
COMMITTEE ACTION: Received the report.
4. Claims Management
a. Review new and outstanding claims
Staff reported that the District went to small claims court to collect from Mr.
Stephen Isaacs, who failed to pay the $1,000 that was due on his
outstanding balance. Since that time, he has made another payment and
still owes approximately $1,700 to the District.
COMMITTEE ACTION: Received the report.
5. Review revised September 2010 GASB 45 monthly statement
COMMITTEE ACTION: Received the revised report.
6. Review Position Paper regarding considering directing staff to request
termination calculation from CCCERA (Item 8.a.2) in Board Binder)
COMMITTEE ACTION: Reviewed the Position Paper and recommended
bringing the matter to the full Board for discussion.
7. Review Expenditures (Item 4.a. in Board Binder)
COMMITTEE ACTION: Recommended Board approval.
Budget and Finance Committee
November 29, 2010
Page 3
a. Review P-Card expenditures
COMMITTEE ACTION: Reviewed the P-card expenditures.
8. Review October 2010 Financial Statements and Investment Reports
(Item 4.b. in Board Binder)
COMMITTEE ACTION: Recommended Board approval.
9. Review of Connection Fees for small businesses
Staff recommended amending the District Code to broaden the Capacity Use
Charge Program for small businesses.
COMMITTEE ACTION: Concurred with staff’s recommendation and asked
staff to bring a proposed program to the Committee for review.
10. Reports and Announcements
None.
11. Adjournment – at 3:35 p.m.