HomeMy WebLinkAbout09.d.1)a) Minutes-Finance Committee 11-28-16Central Contra Costa Sanitary District
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Protecting public health an
Committee:
Chair Tad Pilecki
Member Paul Causey
e environment
50191rrihofPlace , Martinez, C4 9455D-4397
REGULAR MEETING OF THE
CENTRAL CONTRA COSTA
SANITARY DISTRICT
FINANCE COMMITTEE
MINUTES
Monday, November 28, 2016
3:00 p.m.
Executive Conference Room
5019 Imhoff Place
Martinez, California
Invited Guest:
Vikki Rodriguez, CPA of Maze & Associates (left after Item 4.)
9.d.1)a)
Staff:
General Manager Roger S. Bailey
Deputy General Manager Ann Sasaki
Director of Finance and Administration Phil Leiber (arrived during Item 4.)
Director of Engineering and Technical Services Jean -Marc Petit
Finance Manager Thea Vassallo
Finance Administrator Todd Smithey (left during 5.a.)
Finance Administrator Chris Thomas
Senior Administrative Technician Cindy Granzella
1. Call Meeting to Order
Chair Pilecki called the meeting to order at 3:01 p.m.
2. Public Comments
None.
3. Old Business
BOARD OF DIRECTORS:
TAD J. PILECKI
President
PAUL H. CAUSEY
President Pro Tem
MICHAEL R. MCGILL
JAMES A. NEJEDLY
DAVID R. WILLIAMS
PHONE: (925) 228-9500
FAX: (925) 372-0192
www.centralsan.org
a. Review staff's response to questions regarding expenditures at the
October meeting:
Check /
Date Amount
#211676 $97,500.00
9/29/16
#211942 $300.00
10/06/16
#37420 $2,876.55
9/22/16
Vendor
EBMUD / Lab
and Other
Alameda
LAFCO
Taborda
Solutions, Inc.
Finance Committee Minutes
November 28, 2016
Page 2
Information Requested
Chair Pilecki asked for a short memo to
identify the costs/summary of the studies
for BACWA
Chair Pilecki asked for more information
Member Causey asked why this was
billed to a capital project, and another
payment to the same vendor was billed
through Operations and Maintenance
(O&M)
Chair Pilecki asked for clarification on the acronym NMS in the staff
response. Ms. Vassallo explained that it stood for Nutrient Management
Study.
b. Review staff's response to question regarding September 2016 Financial
Statements and Investment Reports
COMMITTEE ACTION: Reviewed staff's responses.
4. Review (1) draft basic audited Financial Statements for fiscal years ended
June 30, 2016 and June 30, 2015 — audit performed by Maze & Associates, and
(2) Memorandum on Internal Control and Required Communication — Invited
guest: Vikki Rodriguez, CPA of Maze & Associates
Ms. Rodriguez stated that Maze & Associates is issuing an unmodified opinion
for the audited Financial Statements. She also stated that there were no material
weaknesses or significant deficiencies noted as part of the auditor's internal
control review in connection with the audit process.
The Committee reviewed the documents, and staff responded to questions.
Member Causey asked why certain risks associated with State of California
Local Agency Investment Fund (LAIF) investments are not discussed more
substantially in the notes to the financial statements. Ms. Rodriguez stated that
the LAIF is not considered a high risk investment and that the disclosure
standards were met. Chris Thomas noted that note 2 to the financial statements
does provide certain information related to the risks of the investments.
Mr. Bailey suggested that it be a future investment policy discussion with the
full Board.
COMMITTEE ACTION: Reviewed and recommended Board approval.
Finance Committee Minutes
November 28, 2016
Page 3
5. Expenditures
a. Review Expenditures
Member Causey referred to page 33 of the expenditures and stated that
he would recuse himself from recommending Board approval of a
payment to RMC Water and Environment due to a potential conflict of
interest.
b. Review P -card statement
Chair Pilecki asked for additional information for a charge on page 8 of the
statement, in the amount of $215.28 to Disney Resorts.
COMMITTEE ACTION: Reviewed and recommended Board approval.
6. Review October 2016 Financial Statements and Investment Reports
Ms. Vassallo stated that O&M revenue is currently running at a $0.9 million
favorable variance, and expenses are running at a $1.9 million favorable
variance. She stated that sewer construction is close to budget, and that Pump
Zone Fees and Main Line Inspection Fees are driving the favorable variance.
Year-to-date, the capital program has spent approximately 27% of the annual
budget.
Member Causey referred to page 14 of the Financial Statement, and stated that
not all adjustments that were discussed at the recent Engineering & Operations
Committee were reflected in the report. Chair Pilecki stated that there were also
some adjustments in the report that were never discussed with the Engineering &
Operations Committee. Mr. Petit will review the report, and provide an update.
COMMITTEE ACTION: Reviewed and recommended Board approval.
7. Announcements
a. Future scheduled meetings:
Tuesday, December 27, 2016 at 3:00 p.m.
b. Receive list of Scheduled/Parking Lot items
COMMITTEE ACTION: Received the announcements.
Finance Committee Minutes
November 28, 2016
Page 4
8. Suggestions for future agenda items
Member Causey requested staff input regarding suggestions to improve the
operations or procedures with the Finance Committee for the upcoming year.
9. Adjournment — at 4:55 p.m.