HomeMy WebLinkAboutBUDGET AND FINANCE ACTION SUMMARY 11-18-13Central Contra Costa Sanitary District
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SPECIAL MEETING OF THE
CENTRAL CONTRA COSTA R04RDOFT)IfffCT °RS:
JAA -IESA. NEJEDLP
SANITARY DISTRICT President
BUDGET AND FINANCE COMMITTEE DAT7DR. uILLIAnIS
President Pro Tem
P.-1 UL H. CA i SEF
ACTION SUMMARY 1IICHDELR.- 1fCGILL
TAD J. PILECKI
Chair McGill
Member Nejedly
Monday, November 18, 2013
3:00 p.m.
Caucus Room
5019 Imhoff Place
Martinez, CA 94553
PHONE: (925) 228 -9500
F4-I: (925) 676 -7211
www. centralsan. org
PRESENT: Chair Mike McGill, Member Jim Nejedly, General Manager Roger Bailey,
Finance Manager Thea Vassallo, Purchasing and Materials Manager Stephanie King
(for Item 12.), Senior Administrative Technician Christina Gee
1. Call Meeting to Order
Chair McGill called the meeting to order at 3 p.m.
2. Public Comments
1► 1597101
3. Old Business
a. Review staff's responses to the Committee's request for information at the
previous meeting regarding the following expenditures:
Check Date Amount Vendor
103144 10/10/13 $5,527.72 Servicemaster Restoration
197231 10/10/13 $6,454.13 Dept. of Toxic Substances
COMMITTEE ACTION: Reviewed staff's responses. Chair McGill
inquired as to what a "Terradex alert" is, which was referenced in
staff's response memo included in the agenda packet.
Budget and Finance Committee Action Summary
November 18, 2013
Page 2
4. Risk Management
a. Review Loss Control Report and discuss outstanding claims
Finance Manager Thea Vassallo reported on behalf of Safety and Risk
Management Administrator Shari Deutsch that staff obtained a release
from claimant Ms. Susan Garell regarding the overflow at 659 Ironbark
Circle in Orinda.
COMMITTEE ACTION: Reviewed the report.
5. Discuss the Quarterly report from HighMark Capital Management, which has
been received for the GASB 45 Trust
Ms. Vassallo discussed the report with the Committee and summarized both
positive and negative earnings of the Trust during the quarter ending September
30, 2013 based on the moderate risk tolerance.
COMMITTEE ACTION: Discussed the Quarterly report.
6. Receive follow -up report on Governmental Accounting Standards Board (GASB)
51, Accounting and Financial Reporting for Intangible Assets, particularly as it
relates to capitalizing Land and Easements
Ms. Vassallo reported that staff implemented GASB 51 in 2009 and has changed
its year -end Capital Project Close Out Asset Summary Form to align with the
reporting requirements of GASB Statement No. 51, which was confirmed with the
District's new auditors, Maze & Associates. The process for booking easements
was discussed.
COMMITTEE ACTION: Received the report.
*7. Review and discuss California Investment and Debt Advisory Committee's
Guidelines for Investments and compare it to the District's current Investment
Policy
Ms. Vassallo distributed a list of the current 2013 allowable investments per local
agency investment guidelines per state government code provided by the
California Debt and Investment Advisory Committee (CDIAC). A Schedule of the
District's Allowable Investments and Current Rate of Return was discussed in
conjunction with the allowable CDIAC allowable investments (attached). She
stated that she was planning to give a presentation on Cash Flow and Trends to
the Board in December, as requested by Board Members Causey and Pilecki.
COMMITTEE ACTION: Reviewed and discussed the guidelines.
Budget and Finance Committee Action Summary
November 18, 2013
Page 3
8. Review draft Comprehensive Annual Financial Report (CAFR) for fiscal year
ended June 30, 2013
COMMITTEE ACTION: Reviewed and recommended Board approval at the
December 5, 2013 Board Meeting.
9. Review Expenditures (Item 4.b. in Board Binder)
The Committee requested information regarding the following expenditures:
Check /
Amount
Vendor
Information Requested
Date
197231
$6,454.13
Dept. of
What is a "Terradex alert "?
10/10/13
Toxic
(referenced in staff's response in the
Substances
11 /18/13 agenda packet)
197494
$13.17
Contra
Given the small amount invoiced, is
10/31/13
Costa
there a way the District can pre -pay a
Mosquito &
larger amount, or be billed less
Vector
frequently and in larger amounts?
Control
197495
$19.71
Cresco
Are there alternate sources for
10/31/13
Equipment
propane, such as Suburban Propane,
Rental
and is staff able to buy in bulk for less
frequent purchases?
COMMITTEE ACTION: Requested the information above. Reviewed and
recommended Board approval.
10. Announcements
a. Staff confirmed with District Counsel Kent Alm that legal fees related to
AB197 should be charged to Self Insurance, Sub Fund B — Employment
Related Risks
COMMITTEE ACTION: Received the announcement.
11. Suggestions for future agenda items
None.
12. Visit warehouses at Solids Conditioning Building and Materials Control Building
The Committee visited the Solids Conditioning Building and Materials Control
Building inventories and found that these sites were in good, clean and organized
Budget and Finance Committee Action Summary
November 18, 2013
Page 4
condition. Based on the Committee's review of the items stocked, there was a
better understanding of the value of the inventory and the procedures in place to
keep the inventory secure.
COMMITTEE ACTION: Visited the warehouses.
13. Adjournment — at 4:59 p.m.
* Attachment