HomeMy WebLinkAboutBUDGET AND FINANCE ACTION SUMMARY 04-30-12Central Contra Costa Sanitary District
Protecting i Imhoff CA 94553
SPECIAL MEETING OF THE BOARD OF DIRECTORS:
CENTRAL CONTRA COSTA JAMES NEIEDLY
SANITARY DISTRICT President
BUDGET AND FINANCE COMMITTEE DAPrOR.ntProTem
President Pro Tern
BARBARA D. HOCKETT
ACTION SUMMARY MICHAEL R. MCGILL
MARIO M MENESIN!
Chair McGill
Member Nejedly
Monday, April 30, 2012
2:30 p.m.
Board Room
5019 Imhoff Place
Martinez, California
PHONE: (925) 228 -9500
FAX: (925) 676 - 7211
www.centralsat.org
PRESENT: Mike McGill, Jim Nejedly, Ann Farrell, Todd Smithey, Jarred Miyamoto-
Mills, Shari Deutsch (closed session only), Sam Sperry, Esq., Elaine Boehme
1. Call Meeting to Order
Chair McGill called the meeting to order at 2:30 p.m.
2. Closed Session
a. Conference with Legal Counsel — anticipated litigation - significant
exposure to litigation pursuant to Government Code Section 54956.9(b) -
one potential case (rescheduled from the April 16, 2012 meeting)
COMMITTEE ACTION: Held closed session.
3. Report out of Closed Session
Chair McGill reported that the Committee will make a recommendation to
the full Board at the next scheduled meeting.
4. Public Comments
None.
Budget and Finance Committee
April 30, 2012
Page 2
*5. Interview financial advisors to assist with analyzing options for paying down a
portion of the Unfunded Actuarial Accrued Liability (UAAL) and negotiating a
favorable agreement with Contra Costa County Employees' Retirement
Association (CCCERA) for prepayment of the UAAL
COMMITTEE ACTION: Interviewed Craig Bettencourt & associates (Prager
Sealy and Co. LLC) and Tom Lockard & associates (Stone and Youngberg).
Jenny Poree (Montague, DeRose and Associates, LLC) was unable to
attend. The presentations were informative but the firms had very different
approaches. Requested that staff schedule an interview with a third
financial advisor for an upcoming Committee meeting in order to better
evaluate available strategies and options.
6. Review March 2012 Financial Statements and Investment Reports (Item 4.b. in
Board Binder)
COMMITTEE ACTION: Reviewed and recommended Board approval.
7. Reports and Announcements
None.
8. Suggestions for future agenda items
None.
9. Adjournment — at 4:39 p.m.
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