HomeMy WebLinkAbout04. Approve expenditures Page 1 of 2
Item 4.
,ek CENTRAL SAN
CENTRAL CONTRA COSTA SANITARY DISTRICT
September 5, 2019
TO: HONORABLE BOARD OF DIRECTORS
FROM: TODD SMITHEY, FINANCE ADMINISTRATOR
KEVIN MIZUNO, FINANCE MANAGER
REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION
ANN SASAKI, DEPUTY GENERAL MANAGER
ROGER S. BAILEY, GENERAL MANAGER
SUBJECT: APPROVE EXPENDITURES DATED SEPTEMBER 5, 2019
The Finance Division conducts a weekly check run to issue vendor payments for approved expenditures
and releases those warrants the same week. The Finance Division also issues employee paychecks once
a month on the last business day of the month. This packet contains a listing of all such payments issued
since the last Finance Committee meeting. The packet is then distributed to the full Board for review and
approval of the expenditures at the next regularly scheduled publicly held Board meeting.
This packet includes District payments issued in the timeframe July 18, 2019 through August 15, 2019 for
a total of $29,545,679.89 in expenditures. The largest expenditure in this timeframe was a payment to the
District's pension administrator, Contra Costa County Employees' Retirement Association (CCCERA), for
$17,000,000. Consistent with past practice for over a decade, this represents a prepayment to CCCERA
for estimated employer pension contributions for the fiscal year ending June 30, 2020. This annual
practice has resulted in net savings because prepayments to CCCERA yield 7%, which is expected to
exceed the District's current year investment portfolio yield (weighted average investment yield of
approximately 2.46% in June 2019). Estimated savings resulting from this prepayment approach were
incorporated in the current year's adopted budget.
Approval of these expenditures has been recommended by the Finance Committee.
Strategic Plan re-In
GOAL THREE: Be a Fiscally Sound and Effective Water Sector Utility
Strategy 2- Manage costs
ATTACHMENTS:
1. Expenditures-Replacement Sheet
September 5, 2019 Regular Board Meeting Agenda Packet- Page 18 of 201
Page 2 of 2
ATTACHMENT 1
I CENTRAL SAN
CONTRACENTRAL •
Central San
Agenda Item — Approve Expenditures
The list of expenditures for approval at this meeting
is available for review at the below listed location because
it is too large for useful imaging within this electronic packet.
We apologize for any inconvenience.
Central Contra Costa Sanitary District
5019 Imhoff Place, Martinez
Monday through Friday: 8:00 a.m. to 5:00 p.m.
Please contact Katie Young, Secretary of the District, with any questions:
Telephone: (925) 229-7303
Email: kyoung@centralsan.org
September 5, 2019 Regular Board Meeting Agenda Packet- Page 19 of 201