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HomeMy WebLinkAboutBUDGET AND FINANCE ACTION SUMMARY 07-31-12Central Contra Costa Sanitary District Protecting public health and the environment 5019 Imhoff Place, Martinez, CA 94= SPECIAL MEETING OF THE CENTRAL CONTRA COSTA PO4RD OFDZRECTOKS: J.4.1IESA. _ ETEDLF SANITARY DISTRICT Rrvs,aknr BUDGET AND FINANCE COMMITTEE D_�F7DR TILLL �� President Pro Tem B_ 1RB_ P-1 D. HOCKE'TT A C T 10 N SUMMARY - 'II('HdELR._W(YTILL - 114RIO -1 L - 1IEEtiINY Chair McGill PHOAE: (925) 228 -9500 F_-I: (925) 676 -7211 Member Nejedly „ „„ .centrnlsan.oty Tuesday, July 31, 2012 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California PRESENT: Mike McGill, Jim Nejedly, Ann Farrell, Thea Vassallo 1. 2. 3 E Call Meeting to Order Chair McGill called the meeting to order at 3:00 p.m. Public Comments None. Old Business a. Review staff's response to the Committee's request for additional information regarding Expenditures reviewed at previous meeting and legal bills COMMITTEE ACTION: Reviewed staff's response. Risk Management a. Review Loss Control Report and discuss outstanding claims COMMITTEE ACTION: Reviewed the report and discussed outstanding claims. Budget and Finance Committee July 31, 2012 Page 2 5. Review June 2012 Financial Statements and Investment Reports (Item 3.c. in Board Binder) COMMITTEE ACTION: Reviewed and recommended Board approval. 6. Expenditures a. Review Expenditures (Item 3.b. in Board Binder) COMMITTEE ACTION: Reviewed and recommended Board approval. Requested additional information on check 191055, payable to Pacific Water Resources, in the amount of $74,338.82. b. Review Legal Expenditure Summary COMMITTEE ACTION: Reviewed Legal Expenditure Summary. 7. Review Position Paper approving the continuance of the Employee Computer Hardware Purchase Assistance Program effective August 2, 2012 for a one -year period and discuss including as Budget line item instead of special Board approval (Item 3.e. in Board Binder) COMMITTEE ACTION: Discussed and recommended the item be suspended until labor negotiations are completed. 8. Reports and Announcements Finance Manager Thea Vassallo reported on the status of the Deferred Compensation Benchmark Study, stating that Schultz is waiting for a proposal from Morgan Stanley to finalize additional two vendors added to the study. Ms. Vassallo announced that Andrew Brown from Highmark Capital Management will be attending the September 4, 2012 Committee meeting to give a brief six -month summary of the GASB 45 PARS Trust. Ms. Vassallo reported that she is working with Secretary of the District Elaine Boehme to determine whether the members of the District's Deferred Compensation Committee need to file Form 700s. General Manager Ann Farrell announced that the financial advisors from Fieldman, Rolapp & Assoc. as well as the potential bond underwriter from Budget and Finance Committee July 31, 2012 Page 3 Prager and Co., Ms. Vassallo and Finance Administrator Todd Smithey will be meeting with Contra Costa County Employees' Retirement Association (CCCERA) on Friday, August 3, 2012 to discuss the calculation and funding of the unfunded liability. They are also planning to attend the August 13, 2012 Budget and Finance Committee meeting to provide an update on their findings. 9. Suggestions for future agenda items The Committee requested that the General Manager give a monthly summary and status report of the ongoing studies in which the District is participating. 10. Adjournment — at 3:35 p.m.