HomeMy WebLinkAbout05.c. Receive annual report on status of loans under Board Polcy No. BP 001 - Employee Computer Purchase Assistance Program Page 1 of 3
Item 5.c.
CENTRAL SAN
August 28, 2019
TO: FINANCE COMMITTEE
FROM: KEVIN MIZUNO, FINANCE MANAGER
REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION
ANN SASAKI, DEPUTY GENERAL MANAGER
ROGER S. BAILEY GENERAL MANAGER
SUBJECT: RECEIVE ANNUAL REPORT ON STATUS OF LOANS UNDER BOARD
POLICY NO. BP 001 - EMPLOYEE COMPUTER PURCHASEASSISTANCE
PROGRAM
Central San currently has an Employee Computer Purchase Assistance Program providing employees
with a low-cost resource to purchase a personal computer and/or other authorized hardware for the
purpose of improving computer skills. Board Policy (BP) 001 was made effective on July 1,1995. It
was most recently amended on February 5, 2015 and reviewed without changes on February 23, 2017.
On an annual basis, staff provides the Board with a report including the status of participation and
outstanding loans under the program. This memo serves as the annual report for the fiscal year ending
J une 30, 2019. A copy of BP 001 is attached for your convenience.
Program Overview
Central San charges employee participants at the Local Agency Investment Fund (LAIF) interest rate, published
by LAIF on a monthly basis. As LAIF generally comprises a large proportion of Central San's investment
portfolio, monies loaned to employees for this program earn a comparable rate of return as if they were invested
rather than extended to employees. Accordingly, the program is "cost neutral" to Central San apart from the
relatively minor staff time associated with administering it. Other program highlights include the following:
• The annual funding limit is $30,000.
• Allowable purchases under the program include desktops, laptops, tablets, printers, software, and/or
related equipment of any brand.
• Purchases must meet current District standards and be pre-approved by the Information Technology
Division Manager.
• The minimum loan amount is $600; the maximum loan amount is $2,000.
• Only one (1) loan can be outstanding at any one time per employee.
• The program is administered by the Finance Division.
August 28, 2019 Special FINANCE Committee Meeting Agenda Packet- Page 170 of 202
Page 2 of 3
Status of Participation and Outstanding Loans
As of June 30, 2019, the revolving loan fund had a total of$15,736.06 in outstanding loans, including interest.
During the fiscal year ending June 30, 2019, ten (10) loans in the amount of$17,953.59 were extended,
demonstrating this continues to be a popular benefit for District employees. Given the $30,000 annual funding
cap, the remaining amount available for new loans is $14,263.94 as of the fiscal year ended June 30, 2019.
Strategic Plan Tie-In
GOAL THREE:Be a Fiscally Sound and Effective Water Sector Utility
Strategy 2- Manage costs
GOAL FOUR: Develop and retain a highly trained and innovative workforce
Strategy 1 - Ensure adequate staffing and training to meet current and future operational levels
ATTACHMENTS:
1. BP 001 - Employee Computer Loan Program
August 28, 2019 Special FINANCE Committee Meeting Agenda Packet- Page 171 of 202
Page 3 of 3
Number: BP 001
Related Procedures: AP 001
Authority: Board of Directors
Effective: July 1, 1995
Revised: February 5, 2015 CENTRALSAN
Reviewed: 02/23/17, 02/19/19
Initiating Dept./Div.: Administration/Finance
BOARD POLICY
EMPLOYEE COMPUTER PURCHASE ASSISTANCE PROGRAM
PURPOSE
This policy will provide employees with a low cost resource to purchase a personal
computer and/or other authorized hardware or software for the purpose of improving
employee computer skills.
POLICY
1. The District will provide loans to District employees under the Employee
Computer Purchase Assistance Program to purchase a personal computer
and/or other authorized hardware or software.
2. The annual funding limit for the Program is $30,000.
3. The maximum computer loan per employee under the Program is $2,000, with a
minimum of $600.
August 28, 2019 Special FINANCE Committee Meeting Agenda Packet- Page 172 of 202