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Home My WebLink AboutFINANCE MINUTES 05-15-17 1 O.d . 1 Central C tra. C6sta ...................... DIRECTORS.- SPECIAL ETI F TF1 PAUL CAUSEY CENTRALCONTRA COSTA President SANITARY � JAMESA.I��`JEDLY President Pro 7'ein FINANCE CO MICHAEL R.McGIL L TAD J.PILE,CKI DA VID R.WILLIAMS M I N U TEs PHONF,: (925)228-9500 SAX: (925)372-0192 Monday, May 15, 2017 www.centralsan,org 2:00 p.m. Executive Conference Room 5010 Imhoff Place Martinez, California Committee: Chair Jim Nejedly Member Tad Pi llecki Staff.- Ann taff.Ann Sasaki, Deputy General Manager Phil Leiper, Director of Finance and Administration Jean-Marc Petit, Director of Engineering and Technical Services Danea Gemmell, Planning and Development Services Division Manager John H uie, Information Technology Manager (left after Item 4.) Stephanie Ding, Purchasing and Materials Manager (left after Item 5.) Thea vassallo, Finance Manager Todd Smithey, Finance Administrator Shari Deutsch, Risk Management Administrator Paul Kelly, Development Services Supervisor (left after Item 3.b) Lupe Saldana, Administrative Services Supervisor Cindy Granzella, Senior.Administrative Technician 1. Call Meeting to Order Chair Nejedly called the meeting to order at 2:00 p.m. 2. Public Comments None. 3. old Business a. Review staff's responses to questions regarding expenditures at the April 25, 2017 meeting: Finance Committee Minutes May 15, 2017 Page 2 Co ljon q e, rm or V,at e...... ....... ...... ......... #103363 $4,x`92.16 ServiceMaster Member Pilecki requested additional 3130117 Restoration information. #214042 $3,660.00 U S health Member Pilecki requested additional 3123117 Works information. Medical #214437 $3,6x`2.43 Hertz Chair Nejedly asked if the generator that 4/13/17 Equipment was rented was used, the invoice Rental showed zero hours of usage. b. Review staff's response to question regarding purchase of safety shoes at April meeting. Member Pileclri advised staff to be cautious about the potential for abuse of the District's policy with regard to safety shoes. Ms. Sasaki stated that a new policy is in process which will require management signature.- Chair Illejedly remarked, however, that where safety issues are concerned, the cost of new shoes is less than the cost of an injury. COMMITTEE ACTION: Reviewed staff's response. 4. Receive update on contract with Digital Deployment for web conversion services and ongoing website hosting COMMITTEE ACTION: Received the Information. 5. Expenditures a. review Expenditures The Committee reviewed the expenditures included in the agenda materials, and staff responded to questions. COMMITTEE ACTION: Reviewed and recommended Board approval. b. Review Procurement Card (P-Card) Statement COMMITTEE ACTION: Reviewed the P-Card Statement. 6. Review April 2017 Financial Statements and Investment Reports Ms. vassallo reported a year-to-da to fa vorable.variance of$5.1 million for Operations and Maintenance (O&M) expenses. Mr. Leiober stated that the District is in good shape to end the fiscal year with a favorable variance, but not as large as at present. Ms. vassallo reported that the sewer Construction Fund Finance Committee Minutes May 15, 20 17 Page 3 expenses are at$24.4 million for the year, or about 66% of budget. Mr. Petit stated that several projects are underway, acrd staff expects other projects to continue. Ms. Vassallo made mote of page 21 in the April Financial Statements and Investment Reports, stating that it is a new monthly report which outlines capital Budget transfers for the year. COMMITTEE ACTION: Reviewed and recommended Board approval. 7. Review and discuss HighMark Capital Management Governmental Accounting Standards Board (GASB) 45 Trust First Quarter Report dated April 25, 2017 Ms. Vassallo stated that the first quarter return was 3.31%, the one-year return was 9.73%, and the inception-to-date return was 9.82%. chair Nejedly and !Member Pilecki were pleased with the rates of return. COMMITTEE ACTION: Discussed and provided input to staff. 8. Review operations and Maintenance (O&M) portion of draft Fiscal Year 2017-18 Budget Mr. Leiber reviewed the presentation included in the agenda materials. Member Pilecki provided input to staff on the draft O&M portion of the budget. Mr. Leiber explained that a revises►draft will be distributed to the Board approximately a week prior to the Public Tearing to be held on June 1, 2017. Chair Nejedly stated that the Board needs to be informed of what changes were made. COMMITTEE ACTION: Reviewed and recommended Board approval. 9. Receive list of Scheduled/Parking Lot items Member Pilecki reminded the Committee of his request to revisit the history and policy of re vie wing the expenditures. Mr. Leiber explained that the Item will be reviewed by the Administration Committee at a future meeting. COMMITTEE ACTION: Reviewed and provided input to staff. Finance Committee Minutes May 15, 2017 Page 4 10. Announcements a. Future scheduled meetings: Tuesday, June 20, 2017 at 1:00 p.m. Tuesday, July 25, 2017 at 1:00 p.m. Tuesday, August 29, 2017 at 1:00 p.m. 11. Suggestions for future agenda items None. 12. Adjournment-- at 3:25 p.m.