HomeMy WebLinkAboutFinance MINUTES 02-27-18 Page 2 of 4
I CENTRAL SAN
CENTRAL CONTRA COSTA SANITARY DISTRICT 5019 IMHOFF PLACE, MARTINEZ, CA 9AS53-A392
REGULAR MEETING OF THE BOARD OF DIRECTORS:
CENTRAL CONTRA COSTA JAMES A.NEJEDLY
SANITARY DISTRICT President
FINANCE COMMITTEE DAvrDR, WILLIAMSProTem
Tem
President Pro
PAUL H CAUSEY
MINUTES MICHAEL R.MCGILL
TAD J PILECKI
Tuesday, February 27, 2018 PHONE: (925)228-9500
y FAX.- (925)372-0192
2:00 p.m. www.centralsan.org
Executive Conference Room
5019 Imhoff Place
Martinez, California
Committee:
Chair Jim Nejedly
Member Tad Pilecki
Staff.
Roger S. Bailey, General Manager
Katie Young, Secretary of the District
Phil Leiber, Director of Finance and Administration
Danea Gemmell, Planning and Development Services Division Manager
Stephanie King, Purchasing and Materials Manager
Thea Vassallo, Finance Manager
Thomas Brightbill, Senior Engineer (left after Item 4.a.)
Russ Leavitt, Engineering Assistant III (left after Item 4.a.)
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. Follow-up information requested on Expenditures reviewed at previous
meeting
COMMITTEE ACTION: Received the information.
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Finance Committee Minutes
February 27, 2018
Page 2
4. Items for Committee Recommendation to the Board
a. Review draft Position Paper to adopt resolution authorizing a
reimbursement installment payment program for assessment district
properties owing reimbursements to Central San
Ms. Gemmell stated that staff would like to continue to allow financing so
as to keep costs down for customers.
COMMITTEE ACTION: Reviewed and recommended Board approval.
b. Review and approve expenditures dated March 15, 2018
Member Pilecki requested additional information on Check No. 218068 to
US Bank, which was a payment for procurement cards. One of the line
items, in the amount of$1,247.90, was given a description of"Sup for
kitchen." Ms. Vassallo explained that the amount was actually for kitchen
supplies in the amount of$128.17 and the remaining $1,193.73 was for
safety sweatshirts and jackets. Member Pilecki requested additional
information on the sweatshirts and jackets.
Member Pilecki requested additional information on Check No. 38233 to
Roto-Rooter Sewer Service in the amount of$13,681.52, as to what type
of work was performed. He also requested additional information on
Check No. 38256, also to Roto-Rooter Sewer Service, in the amount of
$23,568.75, to confirm that they have the contract for District potholing.
COMMITTEE ACTION: Reviewed and recommended Board approval.
C. Receive the 2017 annual report of the ICMA 401 a and 457 Deferred
Compensation Plans including the Employee Loan Program
Ms. Vassallo reviewed the report included in the agenda materials and
responded to questions.
COMMITTEE ACTION: Reviewed and recommended Board approval.
5. Other Items
a. Review and provide input on Highmark Capital Management Government
Accounting Standards Board (GASB 45) Other Post-Employment Benefits
(OPEB) and Pension Sub-trust Quarterly Report (Fourth Quarter 2017)
Ms. Vassallo reviewed the report and responded to questions. She noted
that OPEB assets had a one-year return of 13.06%, and an inception-to-
date return of approximately 10%. She also stated that most of the
March 15, 2018 Regular Board Meeting Agenda Packet- Page 265 of 275
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Finance Committee Minutes
February 27, 2018
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investments outperformed their benchmark indices. Finally, the new
pension trust, which has approximately$3.4 million in assets, has a three-
month return of 1.74%, and an inception-to-date return of nearly 2%.
COMMITTEE ACTION: Reviewed the report.
b. Review January 2018 Financial Statements and Investment Reports
Ms. Vassallo stated that the Operations and Maintenance (O&M)
revenues through January are within I% of the budget, and the O&M
expenses are within 6% of the budget target. She stated that the Capital
Division has spent$21.2 million year-to-date, or 45.7% of the Capital
Improvement Budget.
COMMITTEE ACTION: Reviewed and recommended Board receipt.
C. Review December 2017 Procurement Card Statements
COMMITTEE ACTION: Reviewed the statements.
d. Receive list of Scheduled/Parking Lot items
COMMITTEE ACTION: Received the list.
6. Announcements
Mr. Bailey announced the upcoming Board Financial Planning Workshop will take
place on Thursday, March 8, 2018.
7. Future Scheduled Meetings
a. Tuesday, March 20, 2018 at 2:00 p.m.
Tuesday, April 24, 2018 at 2:00 p.m.
Monday, May 21, 2018 at 2:00 p.m.
8. Suggestions for Future Agenda Items
None.
9. Adjournment— at 2:35 p.m.
March 15, 2018 Regular Board Meeting Agenda Packet- Page 266 of 275