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HomeMy WebLinkAbout04. Review proposed amendments to Finance Committee Charter as set forth in Board Policy No. BP 013 – Standing Committee Charters 40 Central Contra Costa Sanitary District June 20, 2017 TO: FINANCE COMMITTEE VIA: ROGER S. BAILEY, GENERAL MANAGER FROM: ELAINE R. BOEHME, SECRETARY OF THE D1"-TRICTC=J0L SUBJECT: PROPOSED AMENDMENTS TO COMMITTEE CHARTER The Administration Committee has been working with Brent Ives, Principal of BHI Management Consulting, on proposed changes to Board Policy No. BP 013 — Standing Committee Charters based on feedback from the February 16, 2017 Board Self- Assessment Workshop to more clearly define the Board Committeeprocess and consider developing Committee protocols. As part of that process, the full Board will be reviewing proposed changes to BP 013 at the July 6 meeting to incorporate protocols and guidelines for Standing Committees that clearly define the role of Committees and clarifies how split Committee votes should be dealt with, how to handle requests for information from Committee Members and staff responses thereto, the use of standing items, appointment of alternates, and scheduling/rescheduling/cancellation of Committee meetings. During its review, the Administration Committee has proposed that the Standing Committee charters also be updated to more accurately reflect currentpractices, simplify the template, and more clearly state the policy areas and scope on which each Committee should focus. At this meeting, the Finance Committee will be asked to review the proposed revisions to its Committee charter. The other Committees will be asked to review their respective charters in the coming weeks, before the full policy is brought to the Board for consideration. Attached Sunportinjq Documents: I. Excerpt from BP 0 13-Finance Committee Charter(in strikeout) 2. Excerpt from BP 0 13--Finance Committee Charter(with proposed changes accepted) ATTACHMENT 1 Number: BP 013 STANDING COMMITTEE CHARTERS Page 9 of 12 CHARTER FINANCE COMMITTEE 'fit-+ems Chair Members: ,-Member Meeting Schedule: TAI hMonthly, or as needed (subject to rescheduling or cancellation) Mission -lardIhPA I A!I niraa-+n r of R,i rel n e t ::incl �+r';4 n n a Provide input and recommendations to the Board regardinghe policy areas listed below that support the District's Mission 'Vision and Values and Strategic Plan. C'nmMottimp-Poli AreasneS r a' r s st a i m a h w I't i ef th e st at r-.n n Q 7 E Qtin nt �A tith t h a D Qt f Fiscal sustainability • Fiscal re Mato compliance • Appropriate levels of internal controls I I r�-s ri nvestrnent reserves • Financial reporting and budget documents Sca e. 0 1 meff I m. Fevre and address staff recommendations te. thee fl 111Q al ,-ha Cnm n i+i'i' =4.1. May, dI L--f%of%A I%Airect the General Manager to conduct additional research on policy issues rrvithin the r-'.,-Y, ++ %POC-1 f lhI$:":A Ir omm ittee's Mission Number: BP 013 STANDING COMMITTEE CHARTERS Pane 10 of 12 The Committee is tasked to. • oversee proper use of financial„ resources • Ensure re ulaty compliance with federal state and public financingrhe uirements • Review financial reports for completeness1 accuracy and clarity • � ..;�tA► Review development, implementation and oversight of t investment policies and practices � evfe sProvide recommendations related to the annual bud et its implementation and future projections • Review expenditures • Ensure adequate public outreach of certain program- related matters within the scope of the committee, as referred by the General Manager Revised by Beard. March 6, 2014, July 23, 2015 Number: BP 013 ATTACHMENT 2 STANDING COMMITTEE CHARTERS Page 6 of 7 CHARTER FINANCE COMMITTEE Members Chair, Member Meeting Schedule Monthly, or as needed (subject to rescheduling or cancellation) Mission Provide input and recommendations to the Board regarding the policy areas listed below that support the District's Mission, Vision and Values and Strategic Plan. Policy Areas Fiscal sustainability Fiscal regulatory compliance • Appropriate levels of internal controls • Investment reserves • Financial reporting and budget documents Scope Review and address staff recommendations. May direct the General Manager to conduct additional research on policy issues within the Committee's Mission. The Committee is tasked to: • Oversee proper use of financial resources Ensure regulatory compliance with federal, state and public financing requirements • Review financial reports for completeness, accuracy and clarity Review development, implementation and oversight of investment policies and practices • Provide recommendations related to the annual budget, its implementation and future projections Review expenditures • Ensure adequate public outreach of certain program-related matters within the scope of the Committee, as referred by the General Manager Revised by Board March 6, 2014, July 23, 2015