HomeMy WebLinkAboutBUDGET & FINANCE ACTION SUMMARY 01-31-11
REGULAR MEETING OF THE
BOARD OF DIRECTORS:
CENTRAL CONTRA COSTA
BARBARA D. HOCKETT
President
SANITARY DISTRICT
JAMES A. NEJEDLY
President Pro Tem
BUDGET AND FINANCE COMMITTEE
MICHAEL R. MCGILL
MARIO M. MENESINI
DAVID R. WILLIAMS
A C T I O N S U M M A R Y
PHONE: (925) 228-9500
FAX: (925) 676-7211
Chair Nejedly
www.centralsan.org
Member Hockett
Monday, January 31, 2011
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
PRESENT: Jim Nejedly, Barbara Hockett, Jim Kelly, Randy Musgraves, Kent Alm
1. Call Meeting to Order
Chair Nejedly called the meeting to order at 3:00 p.m.
2. Public Comments
None.
3. GASB 45 Trust Fourth Quarter Report (Andrew Brown, Investment Advisor)
Mr. Andrew Brown reviewed the financial information and investment results.
Fourth quarter of 2010 results were as follows: the District’s investments yielded
a 5.6% return, the one-year return was 12.27% and the inception-to-date return
was 22.47%. Total assets in the GASB 45 Trust is $15,310,503 as of December
31, 2010.
COMMITTEE ACTION: Received the report.
4. Risk Management
a. Review Loss Control Report
COMMITTEE ACTION: Received the report.
Budget and Finance Committee
January 31, 2011
Page 2
b. Discuss outstanding claims
Staff reported that the three open overflow claims have been completed,
and two of the three are now closed.
Mr. Rouhafza’s general liability claim of $24,500 for loss of a tree was
denied by the District. He filed a Small Claims Court claim. Mr. Rouhafza
has been awarded $4,500 plus the $85 filing fee. The District will be
sending a check to him soon.
COMMITTEE ACTION: Received the report.
c. Discuss new claims
1) Claim from Vanliner Insurance Company
The District recently received a general liability claim from Vanliner
Insurance Company for reimbursement of Worker’s Compensation
payments to the employee of Chipman Moving Company. A
District CSO employee had rear-ended the truck when it stopped in
the road. A dollar amount has not been identified.
COMMITTEE ACTION: Received the report.
5. Review Expenditures (Item 4.a. in Board Binder)
COMMITTEE ACTION: Recommended Board approval.
6. Review December 2010 Financial Statements and Investment Reports (Item 4.b.
in Board Binder)
COMMITTEE ACTION: Recommended Board approval.
7. Review response from Contra Costa Employees’ Retirement Association
(CCCERA) (Item 6.a.2) in Board Binder)
COMMITTEE ACTION: Received CCCERA’s letter.
8. Reports and Announcements
COMMITTEE ACTION: None.
Budget and Finance Committee
January 31, 2011
Page 3
9. Closed Session
a. Conference with Legal Counsel - Anticipated Litigation – initiation of
litigation pursuant to Government Code Section 54956.9(c)
One potential case – CCCERA De-pooling issue
b. Conference with Legal Counsel - Anticipated Litigation – significant
exposure to litigation pursuant to Government Code Section 54956.9(b)
One potential case – Gregory Partners RCRA Notice Letter
COMMITTEE ACTION: Held closed session.
10. Report out of Closed Session
District Counsel Kent Alm briefed the Committee. No reportable action.
COMMITTEE ACTION: None.
11. Adjournment – at 4:14 p.m.
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