HomeMy WebLinkAboutBUDGET & FINANCE AGENDA 10-31-11central
Sanitary District
REGULAR MEETING OF THE
CENTRAL CONTRA COSTA
SANITARY DISTRICT
BUDGET AND FINANCE COMMITTEE
Chair Nejedly
Member Hockett
Monday, October 31, 2011
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
INFORMATION FOR THE PUBLIC
ADDRESSING THE COMMITTEE ON AN ITEM ON THE AGENDA
BOARD OF DIRECTORS:
BARBARA D HOCKETT
Presidend
JAMES A. NEJEDLY
Prevident Pro Tens
MICHAEL R MCGILL
MARIO MI MENESINI
DAVID R WILLIAM
PHONE: (925) 228 -9500
FAX: (925) 676 -7211
www. centralsan. org
Anyone wishing to address the Committee on an item listed on the agenda will be heard when the
Committee Chair calls for comments from the audience. The Chair may specify the number of minutes
each person will be permitted to speak based on the number of persons wishing to speak and the time
available. After the public has commented, the item is closed to further public comment and brought to the
Committee for discussion. There is no further comment permitted from the audience unless invited by the
Committee.
ADDRESSING THE COMMITTEE ON AN ITEM NOT ON THE AGENDA
In accordance with state law, the Committee is prohibited from discussing items not calendared on the
agenda. You may address the Committee on any items not listed on the agenda, and which are within their
jurisdiction, under PUBLIC COMMENTS. Matters brought up which are not on the agenda may be
referred to staff for action or calendared on a future agenda.
AGENDA REPORTS
Supporting materials on Committee agenda items are available for public review at the Reception Desk,
5019 Imhoff Place, Martinez. Reports or information relating to agenda items distributed within 72 hours
of the meeting to a majority of the Committee are also available for public inspection at the Reception
Desk. During the meeting, information and supporting materials are available in the Conference Room.
AMERICANS WITH DISABILITIES ACT
In accordance with the Americans With Disabilities Act and state law, it is the policy of the Central Contra
Costa Sanitary District to offer its public meetings in a manner that is readily accessible to everyone,
including those with disabilities. If you are disabled and require special accommodations to participate,
please contact the Secretary of the District at least 48 hours in advance of the meeting at (925) 229 -7303.
Budget and Finance Committee
October 31, 2011
Page 2
1. Call Meeting to Order
2. Public Comments
3. Risk Management
*a. Review Loss Control Report and discuss outstanding claims
Staff Recommendation: Review the report, discuss outstanding
claims and provide direction if needed.
*4. Review Contra Costa County Employees' Retirement Association (CCCERA)
notification of the District's actual Unfunded Actuarial Accrued Liability (UAAL)
Staff Recommendation: Review the notification.
*5. Receive the Third Quarter GASB 45 Trust Report
Staff Recommendation: Receive the report.
6. Review September 2011 Financial Statements and Investment Reports (Item 2.c.
in Board Binder)
Staff Recommendation: Review and recommend Board approval.
7. Expenditures
a. Review Expenditures (Item 2.b. in Board Binder)
Staff Recommendation: Review and recommend Board approval.
*b. Review Legal Expenditure Summary
Staff Recommendation: Review Legal Expenditure Summary.
*c. Review P -Card expenditures
Staff Recommendation: Review P -Card expenditures.
8. Reports and Announcements
9. Suggestions for future agenda items
10. Adjournment
* Attachment
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Central Contra Costa Sanitary District
October 28, 2011
TO: BUDGET AND FINANCE COMMITTEE
VIA: JAMES M. KELLY, GENERAL MANAGER d"
1
FROM: RANDALL MUSGRAVES, DIRECTOR OF ADMINISTRATION
SUBJECT: CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT
ASSOCIATION (CCCERA) NOTIFICATION OF THE DISTRICT'S
ACTUAL UNFUNDED ACTUARIAL ACCRUED LIABILITY (UAAL)
Attached is a copy of a letter from Segal Company, CCCERA's Actuary, providing the
District with the actual UAAL as of December 31, 2010. This was provided at my
request to ensure a reasonable estimate for the needed funds if the District pursued
debt financing and /or other options to pay the UAAL at the least cost.
It is for your information. No action is requested.
cc: Board of Directors
Debbie Ratcliff, Controller
Colette Curtis -Brown
- A-SEGAL
THE SEGAL COMPANY
100 Montgomery Street Suite 500 San Francisco, CA 94104 -4308
T 415.263 8260 F 415.263.8290 www.segalco.com
October 5, 2011
Ms. Marilyn Leedom
Chief Executive Officer
Contra Costa County Employees' Retirement Association
1355 Willow Way, Suite 221
Concord, CA 94520
John W. Monroe, ASA, MAAA, EA
Vice President & Associate Actuary
jmonroe @segalco.com
Re: Allocation of December 31, 2010 Valuation Results for CCCSD
Dear Marilyn:
As requested, the following provides an allocation of the Unfunded Actuarial Accrued Liability
(UAAL), Actuarial Accrued Liability (AAL) and the Valuation Value of Assets (VVA) as of
December 31, 2010 for Central Contra Costa Sanitary District ( CCCSD). We have also
included CCCSD's funded ratio on a VVA basis.
Since the depooling action taken by the Board effective December 31, 2009, CCCSD is now in
their own cost group and has their UAAL determined separately in the valuation.
Based on the results in the December 31, 2010 actuarial valuation, we have prepared the
breakdown of the UAAL, AAL, VVA and funded ratio for CCCSD below.
Benefits, Compensation and HR Consulting Offices throughout the United States and Canada
H. c
Founding Member of the Multinational Group of Actuaries and Consultants, a global affiliation of independent firms
A _ C
Unfunded
Actuarial
Actuarial
Valuation
Accrued
Accrued
Value of Assets
Liability
Funded Ratio
Employer
Liability (AAL)
(VVA)
(UAAL)
(VVA Basis)
Central Contra Costa
$278,290,000
$178,449,000 $99,841,000
64.1%
Sanitary District
Benefits, Compensation and HR Consulting Offices throughout the United States and Canada
H. c
Founding Member of the Multinational Group of Actuaries and Consultants, a global affiliation of independent firms
A _ C
Ms. Marilyn Leedom
October 5, 2011
Page 2
All of the above calculations are based on the December 31, 2010 actuarial valuation results
including the participant data and actuarial assumptions on which that valuation was based.
That valuation and these calculations were completed under the supervision of John Monroe,
ASA, MAAA, Enrolled Actuary.
I am a member of the American Academy of Actuaries and I meet the Qualification Standards
of the American Academy of Actuaries to render the actuarial opinion herein.
Please let us know if you have any questions.
Sincerely,
FO- Qfl
John Monroe
CZI /gxk
cc: Rick Koehler
5155967v 1 /05337.001
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