HomeMy WebLinkAbout07.a.2) (Handout) Additional Written AnnouncementsItem 7.a.2)
(Handout)
Board Meeting of September 1, 2016
Additional Written Announcements:
OUT-OF-STATE CONFERENCE
c) General Manager Roger S. Bailey to Participate in Roundtable
Discussion in New York on September 8. 2016
General Manager Roger S. Bailey will be participating in a roundtable discussion in New
York, NY on September 8, 2016. It will be held at the global headquarters of Standard &
Poor's. The topic of the roundtable is "Financing in the U.S. Water Industry: Challenges
and Opportunities." The roundtable is sponsored by the American Water Works
Association, of which Mr. Bailey is a member. This event is intended to bring senior water
utility leaders together with leading members of the financial community to explore the
opportunities, challenges, and innovations in the uses and types of private financing
vehicles that can help meet the growing needs of the U.S. water utilities.
This event is not included in the FY 2016-17 budget for conferences. However,
registration is complimentary since it is by invitation only and meals are provided.
Mr. Bailey will incur costs for two nights at a hotel, roundtrip airfare, and transportation.
Board President Tad Pilecki has approved the travel.
PENSION CONTRIBUTION
d) Pension Contribution Prepayment and Related Savings
The District participates in a prepayment program for its retirement contributions to Contra
Costa County Employees' Retirement Association (CCCERA). The prepayment program
gives plan sponsors the option of paying all of their estimated retirement contributions in
exchange for a discount on the employer's contribution rate.
The District delivered a check in the amount of $18.3 million to CCCERA on July 27, 2016
for its Fiscal Year (FY) 2016-17 contributions, which included $12.9 million toward the
District's Unfunded Actuarial Accrued Liability (UAAL). In FY 2015-16, the District
realized a net savings of $668,000 by participating in this program.