HomeMy WebLinkAbout07. Att. 2 - Revision Log Page 313 of 317
REVISION LOG ATTACHMENT 2
Edits made to the FY 2020-21 Budget since distribution of Revision Log as part of 5/18 Finance Committee packet
Page#in 5/7 Page#in 6/4 Description of Change
Draft Final Copy
Deleted the third bulleted line, "FY 2019-20, as of March 31 (1.17 spills
13 13 per 100 miles of pipeline)," which was erroneously left from a previous
round of edits.
14 14 Edited biweekly pay strategic accomplishment to reflect current status,
including changing "Launched" to "Completed preliminary design of".
18 18 Corrected typo in population for Concord/Clayton was to read 141,542
(was 151,542).
23 23 Updated the last paragraph with an explanation of the Board's action on
May 7, 2020 to waive implementation of the 5.25% rate adjustment.
Added descriptions of the customer relief program to the Primary
30 30 Response and Budgeted Projects in the Key Budget Priority for Goal 1
(top row).
Added "including meaningful feedback via timely performance
31 31 evaluations" to the Primary Response in the Key Budget Priority for Goal
4 (top row).
32 32-33 Added new table of COVID-19 Budget Impacts/ Responses.
Revised the following sentences as follows:This policy was reviewed and
updated by the Board during FY 2018192019-20. Key provisions
35 37 remained generally unchanged, with updates primarily focusing on
defining the term "working capital," providing detail about the usage of
the reserves and recognizing new accounts since the initial policy.
Revised the following sentences: Under this method, all assets and
liabilities associated with operations are included on the balance sheet
36 38 a+�d-revenues are recorded when eaFRings-earned, and expenses are
recorded -,t the t;.,.,,the , „d when the underlying
services are performed and/or goods are delivered.
Updated the following sentence: As of FebFuaa-y 30, 2020, the
40 41 GASB 45 (OPEB)Trust had a balance of$ 966.3 million, up from the
$58 million in the account one year earlier.
40 42 Updated the following sentence: As of Februaicy 30, 2020,the
balance in the fund was$9.67 million.
Updated sentences as follows:
"^^^„^ting in August fGF the ^ .fiSEal • .Under the current
45 47 arrangement, the City of Concord reimburses Central San once a year
and on a fiscal year basis. Following the close of the fiscal year,the
Finance Division submits an invoice to the City of Concord which is
generally paid by August/September.
48 50 Changed fiscal reference in top row of Table 2a from FY 2020-21 to FY
2019-20.
1
June 4, 2020 Regular Board Meeting Agenda Packet- Page 377 of 449
Page 314 of 317
REVISION LOG ATTACHMENT 2
Edits made to the FY 2020-21 Budget since distribution of Revision Log as part of 5/18 Finance Committee packet
Page#in 5/7 Page#in 6/4 Description of Change
Draft Final Copy
49 in 5/7 draft or
48 in the Financial
Summary in the
5/18/20 Finance 50 Rewrote the end of the paragraph under Sewer Service Charge to better
Committee packet explain the actions taken by the Board on and since May 7.
(rewritten passage
does not appear in
5/7 draft)
49 52 Added footnote regarding Board motion related to rate relief program.
Revised the following sentence: ttte-Excluding the draw from reserves,
53 55 total O&M revenue for FY 2020-21 is projected to be $66.7 million,
compared to the FY 2019-20 budget amount of$86.9 million, as shown in
Table 6.
Updated FY 2018-19 actual column in Table 6 to reflect master Excel
53 55 budget book. Figures were not pasted into the Word version. Correct FY
2018-19 O&M total revenues are $90,377,103 (was$95,964,985).
Revised the following sentences: O&M salaries and benefits (labeled
categories A and B in the table) comprise-5956.3% (56.3%fee tive and
7°' feF Fetipees4 of the overall O&M Budget. Contributions toward
54 56 unfunded liabilities (category C) are another 4A-.917.5%. Total labor
related costs including Salary, benefits, and Unfunded Actuarial Accrued
Liability(UAAL) and additional contributions F^'^, ed-eests are 73.8%of
the O&M Budget. All other expenses (category D) comprise 26.2%.
In Table 7.C., added FY 2020-21 %of Total to Retirement UAAL/
55 57 Unfunded Liabilities (13.4%) and Additional UAAL Contributions (1.4%)
and revised the Total UAAL and Additional Contributions to 17.5% (was
17.0%).
In Table 7.D., corrected Total Expenditures for FY 2018-19 budget and
actual, as amounts did carry over from master Excel file. New amount is
55 57 $89,720,456 for FY 2018-19 total budgeted expenditures (was
$88,137,656) and $87,842,786 for FY 2018-19 total actual expenditures
(was$86,259,986).
Below Table 7.D., added a footnote to disclose FY 2018-19 column
55 57 includes $2.5 million pension trust contribution in HR Division which was
not reported as an "expense" in general ledger or CAFR due to GAAP
reporting requirements.
57 59 Corrected vacancy factor to read 2% (was 3.25%), still unchanged from
the prior year.
2
June 4, 2020 Regular Board Meeting Agenda Packet- Page 378 of 449
Page 315 of 317
REVISION LOG ATTACHMENT 2
Edits made to the FY 2020-21 Budget since distribution of Revision Log as part of 5/18 Finance Committee packet
Page#in 5/7 Page#in 6/4 Description of Change
Draft Final Copy
Revised the following sentence: "Total benefits and capitalized labor
decreased from $ 312.0 million in FY 2019-20 to $-1411.5 million in FY
2020-21, which are discussed as follows:"
This change reflects the UAAL component of OPEB being broken out in FY
57 59 2020-21 budget and reported within UAAL. This is a changed
methodology from reporting solely reporting OPEB as retiree cost of
medical premiums to reporting normal cost and UAAL components of
OPEB pursuant to Bartel actuarial reports. Total medical premiums are
still disclosed in HR Division narrative section. Changes were also made
to Table 7a to reflect this change in reporting methodology.
58 60 Added reference to Table 4 in supplemental information regarding
retiree benefits. Updated $2.4 million rounded figure to $2.45 million.
Revised following sentence as follows, for additional transparency: "For
improved financial planning and transparency purposes,the total
budgeted cost for retiree health, dental, life and vision premiums is now
split between its normal and UAAL cost components of the actuarially
determined contribution (ADC) calculated by Central San's independent
58 60 OPEB actuary. In FY 2020-21,the total budgeted cost of retiree health
premiums is $4.1 million, reflecting a modest increase (2.2%)from the
$4.0 million budgeted in the prior year. Benefits f.,,-retirees, eensi
„f health, dental, life, and visien costs increase fFem The normal cost
component of OPEB, which is considered an active employee cost (not
UAAL), decreased from $ 31.7 million in FY 2019-20 to$-2-.41.6 million in
FY 2020-21."
Added the following commentary: "However, the amount of the FY 2019-
20 budget variance as shown in the projection in Table 6 & 7 have
58 61 already been accounted for in the reserve calculation (Table 14); so for
additional funds to be available,the favorable variance would need to
exceed these levels."
59 61 Revised language regarding ERP.
Consistent with Table 7 addition, added a footnote at bottom of table to
60 63 disclose FY 2018-19 column includes$2.5 million pension trust
contribution in HR Division which was not reported as an "expense" in
general ledger or CAFR due to GAAP reporting requirements.
62 65 Minor updates to factors affecting salaries and benefits and added
reference to Table 1 in Supplemental Financial Information.
64 67 Added the following sentence: "Changes affecting the classification
structure are pending implementation."
64 67 Updated referenced webpage in footnote to
https://www.centralsan.org/post/Organization-and-Staffing-Plan.
Revised the following sentence as follows, to reflect latest CIB revenue
65 68 figures: Sewer Construction Fund revenues are projected to increase by
$337529.4 million, from $65.6 million in FY 2019-20 to $9-9425.0 million
in FY 2020-21.
3
June 4, 2020 Regular Board Meeting Agenda Packet- Page 379 of 449
Page 316 of 317
REVISION LOG ATTACHMENT 2
Edits made to the FY 2020-21 Budget since distribution of Revision Log as part of 5/18 Finance Committee packet
Page#in 5/7 Page#in 6/4 Description of Change
Draft Final Copy
Corrected outdated reference to increasing SSC due to rate increase of
65 68 5.25%, and noted capital revenues are $94.95 million not$99.1 million.
Updated contribution to SC reserve from $14.1 million to $9.9 million.
66 69 Corrected typos changing "Capacity Fees=Pumped Zone" to "Capacity
Fees-Pumped Zone" and "_"to "-" in the Carryforward row.
Updated FY 2018-19 actual column in Table 13 to reflect master Excel
66 69 budget book. Figures were not pasted into the Word version. Correct FY
2018-19 Sewer Construction fund total expenditures are$43,794,306.
Updated FY 2018-19 actual column in Table 13 to reflect master Excel
66 69 budget book for Reimbursements revenues. Figures were not pasted into
the Word version. Correct FY 2018-19 Sewer Construction fund total
revenues are $60,899,723.
67 70 Revised the following sentence: "The FY 2020-21 revenue requirement
relies on a $ 515.9 million net use of the reserve balances:"
Noted that contributions to the Rate Stabilization Fund Reserve Account
68 71 would be possible if the FY 2019-20 variance is more favorable than
assumed in the reserve calculation based on the projected expenses and
revenues in Tables 6, 7, 13.
68 71 Updated assumptions regarding earnings on Pension Prefunding Trust
and OPEB Trust Funds.
Corrected SSC,total revenue and variance figures due to no SSC rate
68 72 adjustment for FY 2020-21, and corrected bottom three rows of table for
FY 2020-21 budget as a result of revenue change.
Revised the following sentence to reflect budget tables: "The total
73 77 operating budget for FY 2020-21 is$90.7 million, a $4:93_1 million or
-13.5% increase over the$8-9-.787.6 million budget for FY 2019-20."
Added, "The Board sets Central San's Vision, Mission, and Values; adopts
84 88 District-wide Goals via the Strategic Plan; and provides the direction and
resources for staff to execute this vision."
87 91 Corrected the FY 2020-21 target for the completion of annual
performance evaluations metric to read "100%" instead of">_95%".
95 99 Replaced the FYs 2018-20 Strategy in the FY 2020-21 Objectives table
with the FYs 2020-22 Strategic Plan Strategy.
Revised Goal Six strategic accomplishment to state, "In response to the
COVID-19 pandemic, swiftly designed and implemented new paperless
98 102 entry and approval workflows for key financial business processes (i.e.,
payables, procurement cards, online customer payments, remote
deposits, etc.)to improve workplace safety during the pandemic,the
internal control structure, and operational efficiency."
102 106 Replaced the FYs 2018-20 Strategies in the FY 2020-21 Objectives table
with the FYs 2020-22 Strategic Plan Strategies.
4
June 4, 2020 Regular Board Meeting Agenda Packet- Page 380 of 449
Page 317 of 317
REVISION LOG ATTACHMENT 2
Edits made to the FY 2020-21 Budget since distribution of Revision Log as part of 5/18 Finance Committee packet
Page#in 5/7 Page#in 6/4 Description of Change
Draft Final Copy
106 110 Replaced the FYs 2018-20 Strategies in the FY 2020-21 Objectives table
with the FYs 2020-22 Strategic Plan Strategies.
Changed the "Board Execution of PPA Contract" target to ">_2.5 million
113 117 kWh (reported as a rolling average)*"to align with what is listed in the
FYs 2020-22 Strategic Plan, and added to the bottom of the table, "
*pending Board execution of the PPA contract".
Added footnote, "Memberships for FY 2020-21 includes $368,000 for
123 127 BACWA membership and studies, including$105,000 for dues, $90,000
for CBC fee, and $173,000 for nutrient studies."
Revised the second bullet to reflect that the CWEA conference now
127 131
postponed to October from August.
Added to CSO's FY 2019-20 strategic accomplishments, "Continued to
134 138 provide essential services with no interruption during the COVID-19
pandemic."
144 148 Replaced the FYs 2018-20 Strategies in the FY 2020-21 Objectives table
with the FYs 2020-22 Strategic Plan Strategies.
148 152 Replaced the FYs 2018-20 Strategy in the FY 2020-21 Objectives table
with the FYs 2020-22 Strategic Plan Strategy.
151 155 Corrected footing error in rows and columns of Recycled Water Revenue
summary table.
162 166 Changed bullets for"capacity fees" and "pumped zone fees"to "gravity
zone capacity fees" and "pumped zone capacity fees" respectively.
234 240 Changed header in column previously labeled "FY 2019-20"to "FY 2020-
21".
Added another use of IT Development funds: "Audio/video related
238 244 tools/equipment for presentations and collaboration at Central San
facilities".
275-276 281-282 Added missing$signs by numeric figures.
162 167-169 Added a section to disclose the prioritization of projects for COVID-19.
177-198, 202-231, 183-204, 208-237, Revised all project pages in the CIB to add the COVID-19 priority level
235-245, 249-255 241-251, 255-261 number.
5
June 4, 2020 Regular Board Meeting Agenda Packet- Page 381 of 449