HomeMy WebLinkAbout04. Computer Loan Status UpdateCentral Contra Costa Sanitary District
July 25, 2016
TO: FINANCE COMMITTEE
FROM; THEA VASSALLO, FINANCE MANAGER CtiZ,
VIA: ROGER BAILEY, GENERAL MANAGER
ANN SASAKI, DEPUTY GENERAL MANAGER
SUBJECT: COMPUTER LOAN STATUS UPDATE
4.
The District currently has an Employee Computer Purchase Assistance Program that
provides employees with a low cost resource to purchase a personal computer and/or other
authorized hardware for the purpose of improving computer skills. Board Policy (BP) 001,
was made effective on July 1, 1995 and most recently amended on February 5, 2015. The
policy states that staff shall provide the Board with an annual report including the status of
participation and outstanding loans under the program. This memo serves as that annual
report.
Program Overview
The District charges employee participants at the Local Agency Investment Fund (LAIF)
interest rate, so the money earns the same rate of return as it would if the loan amount
were invested, rather than extended to employees. Other program highlights are as
follows:
• The annual funding limit is $30,000.
• Allowable purchases under the program include desktops, laptops, tablets, printers,
software, and/or related equipment of any brand.
• Purchases must meet current District standards and be pre -approved by the IT
Manager.
• The minimum loan amount is $600; the maximum loan amount is $2,000.
• Only one loan can be outstanding at any one time per employee.
• The program is administered by the Accounting Department.
A copy of BP 001 is attached for your convenience. This report will be discussed with the
Finance Committee on July 25, 2016.
Status of Participation and Outstanding Loans
As of June 30, 2016, the revolving loan fund had $10,609 in outstanding loans. During
Fiscal Year 2015-16 eleven loans in the amount of $13,641 were extended. Given the
$30,000 annual funding limit the remaining amount available for new loans was $16,359.
Attachment
Number: BP 001
Related Procedures: AP 001
Authority: Board of Directors
Effective: July 1, 1995
Revised: February 5, 2015
Reviewed: August 4, 2011
Initiating Dept./Div : Administration/Finance
BOARD POLICY
Central Contra Costa
Sanitary District
www.centralsan.org
EMPLOYEE COMPUTER PURCHASE ASSISTANCE PROGRAM
PURPOSE
This policy will provide employees with a low cost resource to purchase a personal
computer and/or other authorized hardware or software for the purpose of improving
employee computer skills.
POLICY
1. The District will provide loans to District employees under the Employee
Computer Purchase Assistance Program to purchase a personal computer
and/or other authorized hardware or software.
2. The annual funding limit for the Program is $30,000.
3. The maximum computer loan per employee under the Program is $2,000, with a
minimum of $600.