HomeMy WebLinkAboutBUDGET AND FINANCE ACTION SUMMARY 12-03-12Central Contra Costa Sanitary District
Protecting public health and the environment 5019 Imhoff Place, Martinez, CA 94=
SPECIAL MEETING OF THE
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SANITARY DISTRICT Rrvs,aknr
BUDGET AND FINANCE COMMITTEE D_�F7DR TILLL ��
President Pro Tem
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Chair McGill PHOAE: (925) 228 -9500
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Member Nejedly „ „„ .centrnlsan.oty
Monday, December 3, 2012
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
PRESENT: Mike McGill, Jim Nejedly, Ann Farrell, Thea Vassallo
1. Call Meeting to Order
Chair McGill called the meeting to order at 3:00 p.m.
2. Public Comments
None.
3. Old Business
a. Review staff's response to the Committee's request for additional
information regarding Expenditures reviewed at previous meeting
• Check #192499 paid to Peterson Power Systems for $399.40
b. Review staff's response to the Committee's concerns regarding the cost of
ergonomic task chairs purchased for staff
COMMITTEE ACTION: Reviewed staff's responses.
Budget and Finance Committee
December 3, 2012
Page 2
4. Risk Management
a. Review Loss Control Report and discuss outstanding claims
COMMITTEE ACTION: Reviewed the report and discussed
outstanding claims.
5. Review Pension Obligation Bonds (POBs) Draft Report follow -up and Andrew
Brown of HighMark Capital Management's response to the report regarding the
use of POBs to fund Contra Costa County Employees' Retirement Association
(CCCERA) Unfunded Actuarial Accrued Liability (UAAL)
COMMITTEE ACTION: Reviewed the report. Chair McGill recommended
that the Fieldman and Rolapp report be finalized and a 10 minute
presentation be given to the full Board sometime in February. Ms. Vassallo
to follow up at next meeting on previous contract work done by John Bartel
comparing CCCERA to CALPERS, in particular what would be the
mechanism and costs for moving from CCCERA to CALPERS.
6. Review the Comprehensive Annual Financial Report (CAFR) as of June 30, 2012
for submission to the Government Finance Officers Association (Item 3.d. in
Board Binder)
COMMITTEE ACTION: Reviewed and recommended Board approval.
7. Review memo regarding suggested changes to the Travel and Expense
Reimbursement Policy No. BP 008
COMMITTEE ACTION: Reviewed and discussed canceling current use of
travel agent since there is no value added for the District, and allowing use
of procurement cards for approved conference hotel accommodations.
Committee discussed and agreed that there were adequate internal
controls to justify the change. Recommended Board approval.
8. Review October 2012 Financial Statements and Investment Reports (Item 3.c. in
Board Binder)
COMMITTEE ACTION: Reviewed and recommended Board approval.
9. Expenditures
a. Review Expenditures (Item 3.b. in Board Binder)
Budget and Finance Committee
December 3, 2012
Page 3
COMMITTEE ACTION: Reviewed and recommended Board approval.
b. Review Legal Expenditure Summary
COMMITTEE ACTION: Reviewed Legal Expenditure Summary.
10. Reports and Announcements
Ms.Vassallo announced that Andrew Brown, CFA, Vice President, Senior
Portfolio Investment Manager of the District's GASB 45 OPEB Trust with
HighMark Capital Management, had called the District in accordance with
the OPEB Trust Investment Guidelines, and that the CFO will be resigning
at the end of the year. There is minimal impact anticipated and HighMark
will be replacing the position the beginning of 2013.
Ms. Vassallo reported that the Cafeteria Health Care reimbursement will be
reduced from $5,000 to $2,500 effective January 1, 2013.
11. Suggestions for future agenda items
Ms. Vassallo to prepare a follow up report for the Committee on GASB 51,
Accounting and Financial Reporting for Intangible Assets, particularly as it
relates to capitalizing Land and Easements.
Member Nejedly inquired about the District possibly getting lower
insurance premiums charged for employees that have dual coverage.
Chair McGill requested an update on the total expenditures for the
cogeneration repairs and an explanation of how they are contributing to
some line items in the operation and expense account, such as utilities and
repairs, being over budget year to date.
12. Adjournment — at 3:40 p.m.