HomeMy WebLinkAboutFINANCE MINUTES 10-24-17Il Central Contra Costa Sanitary District REGULAR MEETING OF THE CENTRAL CONTRA COSTA SANITARY DISTRICT FINANCE COMMITTEE MINUTES Tuesday, October 24, 2017 2:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California C;nmmittpp- Chair Jim Nejedly Member Tad Pilecki BOARD OF DIRECTORS: PAUL H. CA USEY President JAMES A. NEJEDL Y President Pro Tem MICHAEL R. MCGILL TAD J. PILECKI DAVID R. WILLIAMS PHONE: (925) 228-9500 FAX.- (925) 676-7211 www.centralsan.org Staff. Roger S. Bailey, General Manager Ann Sasaki, Deputy General Manager Phil Leiber, Director of Finance and Administration (arrived during Item 4.a.) Thea Vassallo, Finance Manager Stephanie King, Purchasing and Materials Services Manager Donna Anderson, Assistant to the Secretary of the District Anika Doria, Administrative Assistant Temp 1. Call Meeting to Order Chair Nejedly called the meeting to order at 2:00 p.m. 2. Public Comments None. 4. Items for Committee Recommendation to Board a. Review September 2017 Financial Statements and Investment Reports Ms. Vassallo reported that the Operations and Maintenance (O&M) revenues are on target with a small unfavorable variance, and the O&M expenses are currently running ata $1.8 million favorable variance through September 2017. The Sewer Construction revenues for Finance Committee Minutes October 24, 2017 Page 2 September 2017 are favorable by $1.7 million, primarily due to a capacity fee payment for the Bishop Ranch City Center in San Ramon. The Capital Projects Division has spent $6.4 million through the end of September, or 14% of budget. Member Pilecki requested a graph similar to the one on page 3 for O&M expenses be incorporated in future financial reports related to sewer construction expenses. COMMITTEE ACTION: Reviewed and recommended Board receipt. b. Review Expenditures dated November 2, 2017 The Committee reviewed the expenditures included in the agenda material, and staff responded to questions. COMMITTEE ACTION: Reviewed and recommended Board approval. 5. Other Items a. Receive list of Scheduled/Parking Lot items COMMITTEE ACTION: Received the list and provided input to staff. 6. Announcements Ms. Vassallo announced that the annual audited financial statements are scheduled to be presented to the Committee in November instead of October due to the new implementation of GASB 74 "Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans." Maze & Associates is waiting for two reports from PARS, and one report from Bartel Associates, LLC related to GASB 74 that required footnotes and disclosure changes. 7. Future Scheduled Meetings a. Tuesday, November 21, 2017 at 2:00 p.m. Tuesday, December 19, 2017 at 2:00 p.m. 2018 Meeting Dates To Be Determined COMMITTEE ACTION: 8. Suggestions for Future Agenda Items None. Finance Committee Minutes October 24, 2017 Page 3 9. Adjournment —at 2:11 p.m.