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Home My WebLink About07.d.1)a) Action Summary-Finance Committee 12-30-14SPECIAL MEETING OF THE CENTRAL CONTRA COSTA BOARD OFDrxECTORS DAVID R. WILLIAMS SANITARY DISTRICT President FINANCE COMMITTEE MICHAELR.Mro Tein President Pro Tem PAUL H. CAUSEY JAMESA. IV A. ACTION SUMMARY TAD J. I'ILECKI Chair Cause PHONE: (925) 228 -9500 Causey FAX. (925) 372 -0192 Member Nejedly www.centralsan.org Tuesday, December 30, 2014 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California PRESENT: Chair Paul Causey, Member Jim Nejedly, Finance Manager Thea Vassallo, General Manager Roger Bailey, Deputy General Manager Ann Sasaki, Director of Administration David Heath, Purchasing and Materials Manager Stephanie King, 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. Old Business a. Review staff's response to questions regarding an expenditure at the previous meeting: Check t Date Amount 'Vendor Information Requested (Response included in the Agenda Packet as Attachment 3. . #202807 $8,357.95 Gagen, McCoy, The Committee requested more 11/25/14 McMahon, Koss, information on the charge. Markowitz & Raines Ga en Finance Committee Action Summary December 30, 2014 Page 2 Chair Causey asked whether there was documentation as to why the District was reimbursing Gagen, rather than the installers of the mainline extension. He suggested that that sort of backup information should be attached to the Payment Authorization, to show the District has done its due diligence. He also wondered whether it was worth staff's time to charge interest on these sorts of reimbursements, given the effort it takes obtain LAIF interest rates, calculate and charge the amount. He suggested that perhaps the Board should look at revising the portion of the District Code that mandates that. He also asked for clarification regarding District Code Section 6.20.210c, regarding straight line depreciation, and whether or not the District should be reimbursing a lower amount based on when the pipe was installed. Chair Causey also asked whether significant staff time is spent tracking people down for reimbursement, and where the responsibility for reimbursing people lies. COMMITTEE ACTION: Reviewed staff's response and requested clarification on the reimbursement process. 4. Expenditures a. Review Expenditures COMMITTEE ACTION: Reviewed and recommended Board approval. Requested additional information on the following: Check ! Date Amount Vendor Information Requested #202930 $550.00 World Views Relocation The Committee requested more 12/4/14 Guide information on the charge. 5. Review November 2014 Financial Statements and Investment Reports Chair Causey stated his opinion that any money that is revenue neutral and originating from an outside party should not be a Capital charge. He cited the way the District handles its Contractual Assessment District (CAD) payments, by assuming a certain amount that may or may not be collected, and asked whether the Capital Improvement Budget (CIB) was being overfunded as a result of this practice. He noted that there is an annual $1.5 million CAD project listed in the recent CIB 10 year plan worksheet with no offsetting revenues. Finance Committee Action Summary December 30, 2014 Page 3 COMMITTEE ACTION: Reviewed and recommended Board approval and requested follow -up information on Chair Causey's understanding of the way the District reconciles CAD revenue with the CIB. 6. Announcements a. Future scheduled meetings: Monday, January 12, 2015 at 3:00 p.m. (Special) Monday, January 26, 2015 at 3:00 p.m. Monday, February 9, 2015 at 3:00 p.m. The Committee will be asked to confirm meeting dates for 2015 at its first meeting of the year. 7. Suggestions for future agenda items None. 8. Adjournment — at 3:42 p.m.