Loading...
HomeMy WebLinkAboutBUDGET AND FINANCE ACTION SUMMARY 09-30-13Central Contra Costa Sanitary District (th and the environment • Imhoff , .. SPECIAL MEETING OF THE CENTRAL CONTRA COSTA B04RDOFDIRECTORS: JAA -IESA. NEJEDLP SANITARY DISTRICT President BUDGET AND FINANCE COMMITTEE DAT7DR. uILLL4 -US President Pro Tem P.-1 UL H. CA i SEF ACTION SUMMARY 1IICHDELR.- 1fCGILL TAD J. PILECKI Chair McGill PHONE: (925) 228 -9500 F4-I: (925) 676 -7211 Member Nejedly ivivi v.xenrtnlsan.org Monday, September 30, 2013 3:00 p.m. Middle Conference Room 1470 Executive Drive, Second Floor Concord, California PRESENT: Chair Mike McGill, Member Jim Nejedly, General Manager Roger Bailey, Director of Operations Curt Swanson, Environmental Services Division Manager Danea Gemmell, Safety and Risk Management Administrator Shari Deutsch (for Item 3.), Senior Engineer Thomas Brightbill (for Item 5.), Finance Manager Thea Vassallo, Finance Administrator Todd Smithey, Secretary of the District Elaine Boehme Dave Alvey of Maze & Associates (for Item 4.) 1. Call Meeting to Order Chair McGill called the meeting to order at 3 p.m. 2. Public Comments None. 3. Risk Management a. Review Loss Control Report and discuss outstanding claims Ms. Deutsch stated that two new claims were received. She provided an update on the District claim against Habitat for Humanity. COMMITTEE ACTION: Reviewed the report. Budget and Finance Committee Action Summary September 30, 2013 Page 2 b. Review Legal Expenditure Summary Ms. Deutsch suggested providing a Quarterly Legal Report instead of the current Legal Expenditure Summary to the Committee. The Quarterly Legal Report will provide the case name and running total of legal expenses paid for various claims. COMMITTEE ACTION: Reviewed Legal Expenditure Summary. 4. Review the draft audited financial statements for the fiscal year ended June 30, 2013 The Committee reviewed the draft audited financial statements. Dave Alvey of Maze & Associates announced that, with regard to the recent audit, his firm issued an Unqualified Opinion, with no significant deficiencies or material weaknesses. One other matter relating to inventory control will be presented to the Board at its next meeting. COMMITTEE ACTION: Recommended Board acceptance of the audited financial statements for the fiscal year ended June 30, 2013, scheduled for the October 17, 2013 Board meeting. 5. Receive status update on cleanup of unclaimed homeowner and contractor deposits (Item in 6.a.3) Board Binder) Senior Engineer Thomas Brightbill presented information, stating that the District has approximately $66,000 in unclaimed deposits, consisting of 84 homeowner deposits and 47 contractor deposits. These deposits date back to the 1980's and 1990's. Staff has attempted to reach the owners and will be placing an advertisement in local newspapers. COMMITTEE ACTION: Received the update. 6. Review overhead components and discuss possible revisions to the annual calculation Ms. Vassallo discussed the calculation and variables in the administrative overhead cost as shown in the attachment in the Committee packet. She noted that, in the past, staff has been directed to do full cost recovery when calculating the overhead. Budget and Finance Committee Action Summary September 30, 2013 Page 3 Chair McGill recommended checking Federal and State programs to see how they compare to the District's. General Manager Roger Bailey stated that staff will look into hiring a consultant to review and make recommendations concerning an appropriate administrative overhead cost. COMMITTEE ACTION: Received the information and concurred with staff recommendation to hire a consultant. 7. Review the District's reserves using the current cash reserve practice Ms. Vassallo referred to the charts in the Committee agenda packet and explained the peaks and troughs of District revenue, expenses, and reserves for the past three years. Ms. Vassallo also reported on the change in funds available for the period of 2001 -2012. COMMITTEE ACTION: Received the information. 8. Review August 2013 Financial Statements and Investment Reports (Item 4.c. in Board Binder) COMMITTEE ACTION: Reviewed and recommended Board approval. 9. Review Expenditures (Item 4.b. in Board Binder) COMMITTEE ACTION: Reviewed and recommended Board approval. 10. Announcements None. 11. Suggestions for future agenda items 1► reyn 12. Adjournment — at 4:00 p.m.