HomeMy WebLinkAbout05.d.1)a) Action Summary-Finance Committee 6-23-145,d.Ua�
Central Contra Costa Sanitary District
REGULAR MEETING OF THE
CENTRAL CONTRA COSTA
SANITARY DISTRICT
FINANCE COMMITTEE
ACTION SUMMARY
Chair Causey
Member Nejedly
Monday, June 23, 2014
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
BOARD OF DIRECTORS:
DAVID R. WILLIAMS
President
MICHAEL R. MCGILL
President Pro Tem
PAUL H. CAUSEY
JAMES A. NEJEDLY
TAD J. PILECKI
PHONE: (925) 228 -9500
FAX: (925) 372 -0192
www.centralsan.org
PRESENT: Chair Paul Causey, Member Jim Nejedly, Finance Manager Thea Vassallo,
General Manager Roger Bailey, Director of Administration David Heath, Director of
Engineering Jean -Marc Petit, Purchasing and Materials Services Manager Stephanie
King (left after Item 3.), Senior Administrative Technician Christina Gee
1. Call Meeting to Order
Chair Causey called the meeting to order at 3:00 p.m.
2. Public Comments
None.
3. Expenditures
a. Review Expenditures
Chair Causey noted that he performs consulting work for DKF Solutions
Group, who is a vendor for the District.
COMMITTEE ACTION: Reviewed and recommended Board approval.
Requested the following additional information:
Finance Committee Action Summary
June 23, 2014
Page 2
Check /
Date
Amount
Vendor
Information Requested
200428
$3,000.00
H &H
Chair Causey expressed concern
6/5/14
Engineer &
regarding the cost of the training. He
Supply Co.
asked if staff could send less people to
each training, then have those staff
members come back and train the others.
200525
$57,249.68
St. Mary's
Member Nejedly requested to see the last
6/12/14
College
bill from St. Mary's College, dated 2012.
4. Review May 2014 Financial Statements and Investment Reports
The Committee discussed opportunities for clarifying and simplifying the reports
and limiting the detail included in them. This would likely occur in conjunction
with the new financial system. Member Nejedly stated that he did not need to
see too much detail, when the Board is only providing a high -level review from a
policy- making standpoint. Chair Causey noted that he was only interested in
year -to -date numbers, not monthly as is currently being reported.
Chair Causey asked for clarity as to General Manager authority limits in the
Capital Improvement Budget.
COMMITTEE ACTION: Reviewed and recommended Board approval.
Requested that the reporting changes be considered as part of the new
financial software purchase in the future.
5. Announcements
a. Future scheduled meetings:
Friday, July 11, 2014 at 2:00 p.m. (Special meeting)
Friday, August 1, 2014 at 2:00 p.m. (Special meeting)
Monday, August 25, 2014 at 3:00 p.m.
The above list reflects the new dates and times of the next two Committee
meetings.
b. Finance Manager Thea Vassallo announced that Finance Administrator
Todd Smithey was recently elected to the Contra Costa County
Employees' Retirement Association (CCCERA) Retirement Board.
Finance Committee Action Summary
June 23, 2014
Page 3
C. Ms. Vassallo also announced that she will be coordinating with the
auditors, Maze & Associates, to provide the Committee and the Board an
update on the Governmental Accounting Standards Board (GASB)
Statement Nos. 67 and 68. The GASB change will require reporting the
unfunded pension obligation as a pension liability on the balance sheet,
pension expense reported will differ from actuarially determined
contribution, and the footnote disclosures will be expanded.
COMMITTEE ACTION: Received the announcements.
6. Suggestions for future agenda items
None.
7. Adjournment - at 3:55 p.m.