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HomeMy WebLinkAboutBUDGET AND FINANCE ACTION SUMMARY 02-14-12 SPECIAL MEETING OF THE BOARD OF DIRECTORS: CENTRAL CONTRA COSTA JAMES A. NEJEDLY President SANITARY DISTRICT DAVID R. WILLIAMS BUDGET AND FINANCE COMMITTEE President Pro Tem BARBARA D. HOCKETT MICHAEL R. MCGILL A C T I O N S U M M A R Y MARIO M. MENESINI PHONE: (925) 228-9500 FAX: (925) 676-7211 Member McGill (Alternate) www.centralsan.org Member Nejedly Tuesday, February 14, 2012 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California PRESENT: Mike McGill, Jim Nejedly, Randy Musgraves, Jim Kelly, Ann Farrell, Debbie Ratcliff 1. Call Meeting to Order Member McGill called the meeting to order at 3:00 p.m. 2. Public Comments None. 3. Old Business a. Review Fiscal Year 2012-13 10-Year Financial Projections with assumptions changed to represent slower recovery of the economy (Item 8.b. in Agenda Backup):  scenario which includes paying off the entire CCCERA UAAL over the next ten years  scenario which increases rates to $50 in each of the first two years COMMITTEE ACTION: Reviewed the scenarios. The Committee asked staff to provide an additional ten year plan scenario that includes a $120 increase to the annual sewer service charge in Fiscal Year 2013-14 and paying off the Contra Costa County Employees’ Budget and Finance Committee February 14, 2012 Page 2 Retirement Association (CCCERA) Unfunded Actuarial Accrued Liability (UAAL) over the ten years of the plan. b. Review Liability Claims Trend Analysis COMMITTEE ACTION: Reviewed the analysis. c. Review Legal Expenses History COMMITTEE ACTION: Reviewed the history. 4. Risk Management a. Review Loss Control Report and discuss outstanding claims Staff reported the need to process one plumbing reimbursement bill of $330.25 to Ms. Sheri Cabral. COMMITTEE ACTION: Reviewed the report and discussed outstanding claims. 5. Receive the 2011-2012 Operations and Maintenance Budget Review for the six months ended December 31, 2011 and projections for the full fiscal year (Item 8.a. in Board Binder) The Committee asked staff to provide more information regarding savings in repair and maintenance costs due to the delay in the CSO move. COMMITTEE ACTION: Received the information. 6. Discuss revision of District policy to delegate to the District Deferred Compensation Committee the authority to approve requests for early withdrawal of funds from the Deferred Compensation Plan. Staff explained that the Internal Revenue Service has very specific guidelines regarding emergency withdrawals and that there are no IRS guidelines regarding review and approval. Most agencies delegate this responsibility to staff.. COMMITTEE ACTION: Directed staff to bring a Position Paper to the full Board which would give authority to the Controller, Chairman of the Deferred Compensation Advisory Committee, to approve or deny emergency withdrawal requests. Budget and Finance Committee February 14, 2012 Page 3 7. Expenditures a. Review Expenditures (Item 4.a. in Board Binder) The Committee asked that staff research a purchase of sleeves from Enaqua and bring a response to the next meeting. COMMITTEE ACTION: Reviewed and recommended Board approval. b. Review Legal Expenditure Summary COMMITTEE ACTION: Reviewed Legal Expenditure Summary. 8. Reports and Announcements None. 9. Suggestions for future agenda items None. 10. Adjournment – at 3:50 p.m.