HomeMy WebLinkAbout06.d.1)a) Action Summary-Finance Committee meeting May 26, 2015Central Contra Costa Sanitary District
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Chair Nejedly
Member Pilecki
Tuesday, May 26, 2015
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
BOARD OF DIRECTORS:
MICHAEL R. MCCILL
President
TAD J. PILECKI
President Pro Tent
PAUL H. CAUSEY
JAMES A. NEJEDLY
DAVID R. WILLIAMS
PHONE: (925) 228 -9500
FAX: (925) 372 -0192
www.ceiiti-alsan.org
PRESENT: Chair Jim Nejedly, Member Tad Pilecki, General Manager Roger Bailey, Deputy
General Manager Ann Sasaki, Director of Administration David Heath, Finance Manager
Thea Vassallo, Purchasing and Materials Services Manager Stephanie King, Senior
Engineer Tom Godsey (arrived during Item 4, left after Item 3), Finance Administrator Todd
Smithey, 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
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3. Receive update on new connection fee bundles
Senior Engineer Tom Godsey explained that the old process was to permit upper
sewer lateral connections when the structures were roofed and rough plumbing was
installed. Currently, the inspection is done sooner, at the completion of foundation for
an additional cost, which includes two additional inspections.
COMMITTEE ACTION: Received the update.
4. Review draft Position Paper regarding the financial status and budget of the Self -
Insurance Fund and the allocation of $1.5 million to the fund from the Fiscal Year
(FY) 2015 -16 Operations and Maintenance (O &M) Budget
Finance Committee Action Summary
May 26, 2015
Page 2
This item was taken out of order, immediately following Item 2.
Director of Administration David Heath explained that the Self - Insurance Fund is
structured into three sub - funds. Sub -Fund A undergoes an actuarial study every two
years, per Government Accounting Standards Board (GASB -10), Sub -Fund B covers
pollution claims and employment practices, and Sub -Fund C covers property losses,
insurance premiums, and potential losses from uninsurable risks. He said that at the
March 2015 Board Workshop the Board confirmed an Emergency Reserves target
level of $5 million. Member Pilecki questioned if the Board authorized the transfer of
$2.4 million to that reserve. Mr. Heath explained that those funds have not yet been
transferred, and understands that the Board has not yet authorized the movement of
$2.4 million, but will be requested as part of the Fiscal Reserve Policy
recommendation to be provided to the Board in early FY2015 -16.
COMMITTEE ACTION: Reviewed and recommended Board approval.
5. Review draft Position Paper to authorize the General Manager to renew insurance
coverage for FY 2015 -16 for excess liability and property coverage
Member Pilecki stated that Workers' Compensation does not need to be covered
under this subject.
COMMITTEE ACTION: Reviewed and recommended Board approval.
6. Review FY 2015 -16 Operations and Maintenance (O &M) and Debt Service Fund
Budgets (2" d review)
COMMITTEE ACTION: None.
7. Old Business
a. Receive update on question regarding an expenditure at the previous meeting:
Check
Gate
Amount
Vendor
Information Requested
#204773
$35,150.00
City of
Member Pilecki requested that staff follow up
4/23/15
Lafayette
with District Counsel regarding coordination
on projects involving the District and other
urisdictions.
General Manager Roger Bailey explained that staff will meet with District
Counsel to determine what kind of agreement can be made, if any. He will
report back to the Committee once further information is received.
COMMITTEE ACTION: Received the update.
Finance Committee Action Summary
May 26, 2015
Page 3
8. Expenditures
a. Review Expenditures
COMMITTEE ACTION: Reviewed and recommended Board approval.
Requested the following additional information:
yY r r r F M ft
#205029 $16,450.00 Carbon Steel Chair Nejedly requested more information.
5/14/15 Inspection
9. Review April 2015 Financial Statements and Investment Reports
Finance Manager Thea Vassallo reported that the Operations and Maintenance
(O &M) revenue is running at a favorable variance of $700,000. The year -to -date
favorable variance in O &M expenses has increased from $4.1 to $4.8 million. The
capital program spent approximately $17.5 million, and is expected to spend $6.5
million in the next few months.
COMMITTEE ACTION: Reviewed and recommended Board approval.
10. Announcements
a. Future scheduled meetings:
Monday, June 8, 2015 at 3:00 p.m.
Monday, June 29, 2015 at 3:00 p.m.
Monday, July 13, 2015 at 3:00 p.m.
b. Mr. Bailey stated that he would be away from the District on May 28 and
29.
COMMITTEE ACTION: Received the announcements.
11. Suggestions for future agenda items
None.
12. Adjournment — at 3:30 p.m.