HomeMy WebLinkAbout06.d.1)a) Action Summary-Finance Committee 04-27-15central
Sanitary District
REGULAR MEETING OF THE
CENTRAL CONTRA COSTA
SANITARY DISTRICT
FINANCE COMMITTEE
ACTION SUMMARY
Chair Nejedly
Member Pilecki
Monday, April 27, 2015
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
BOARD OF DIRECTORS:
MICHAEL R. MCGILL
President
TAD J. PILECKI
President Pro Tem
PAUL H CAUSEY
JAMES A. NEJEDLY
DAVID R. WILLIAMS
PHONE: (925) 228 -9500
FAX: (925) 372 -0192
www.centralsan.org
PRESENT: Chair Jim Nejedly, Member Tad Pilecki, General Manager Roger Bailey,
Director of Administration David Heath, Finance Manager Thea Vassallo, Senior
Engineer Thomas Brightbill (left during item 6), Risk Management Administrator Shari
Deutsch (left during item 6), Mitch Barker of PARS (left after item 3), Andrew Brown of
HighMark Capital Management (left after item 3), Purchasing and Materials Services
Manager Stephanie King, Associate Engineer Clint Shima (left after item 5), IT
Consultant Steve Madler, and Senior Administrative Technician Cindy Granzella
1. Call Meeting to Order
Chair Nejedly called the meeting to order at 3:00 p.m.
2. Public Comments
None.
3. Receive presentation from Andrew Brown of HighMark Capital Management
regarding the Governmental Accounting Standards Board (GASB) 45 Trust 2015
First Quarter Report
Mitch Barker of Public Agency Retirement Services (PARS) summarized the plan
overview, and referred to the Other Postemployment Benefits (OPEB) Prefunding
Trust Program Client Review, included in the agenda packet.
Finance Committee Action Summary
April 27, 2015
Page 2
Andrew Brown of HighMark reviewed the highlights of the first quarter results, as
well as the 12 -month changes. Mr. Brown noted a larger percentage of asset
allocation to the large cap fund, as well as a 12.5% allocation to the international
fund, both of which have performed well.
COMMITTEE ACTION: Received the report.
4. Receive information on security guard services contract
Chair Nejedly asked why the lowest proposal was so much lower than some of
the others. Purchasing and Materials Services Manager Stephanie King stated
that there are several companies within the price range, however price was not
the sole factor in making the decision. Ms. King noted that past performance,
qualifications, and knowledge were also key factors in the evaluation.
COMMITTEE ACTION: Received the information and supported staff's
decision to enter into a contract with National Security Industries and
Services.
5. Old Business
a. Review staff's response to questions regarding expenditures at the
previous meeting:
Check /
Information Requested
Date
Amount
Vendor
(Responses are included in the Agenda
Packet as Attachment 3.a.
#103238
$168,898.81
KIS Computer
Member Pilecki requested a memo regarding
3/26/15
Center
the damage to lT equipment, and the total
costs associated with repair.
#204147
$34,625.84
Bulldog Gas &
Chair Nejedly requested the last twelve
3/19/15
Power, LLC
months of payments to Bulldog Gas &
Power, LLC to review the usage.
Procurement
Chair Nejedly requested to review one month
Cards
of procurement card statements.
Chair Nejedly asked staff to provide a copy of the monthly procurement
statement that summarizes the vendor purchases by employee. Staff
recommended providing such information at the same time the
procurement payment shows on the expenditures for approval.
COMMITTEE ACTION: Reviewed staff's response.
Finance Committee Action Summary
April 27, 2015
Page 3
6. Expenditures
a. Review Expenditures
COMMITTEE ACTION: Reviewed and recommended Board approval.
7. Review March 2015 Financial Statements and Investment Reports
Finance Manager Thea Vassallo reported that Operations and Maintenance
(O &M) revenue had a year -to -date favorable variance of about $350,000 through
March. Sewer Construction (SC) revenue had a $1.5 million favorable variance.
Total SC revenue is projected to be $1.2 million favorable by year end.
Chair Pilecki noticed that connection fees are decreasing every month, and
asked if it was due to the housing market. General Manager Roger Bailey said
he would look into it.
O &M expenditures had a fairly large favorable variance, although large spending
is projected April through June, and, after year -end accruals, the projected
variance is estimated at $1 million by year end.
COMMITTEE ACTION: Reviewed and recommended Board approval.
8. Announcements
a. Future scheduled meetings:
Monday, May 11, 2015 at 3:00 p.m.
Tuesday, May 26, 2015 at 3:00 p.m.
Monday, June 8, 2015 at 3:00 p.m.
b. Ms. Vassallo stated that the O &M budget will be distributed to the Board with
the agenda packet for the May 7 Board meeting. The budget will be reviewed
by the Committee on May 11 and by the full Board on May 21. Ms. Vassallo
recommended that all Board Members receive a hard copy of the budget.
9. Suggestions for future agenda items
None.
10. Adjournment — at 3:55 p.m.