HomeMy WebLinkAbout05.c. Receive annual report on status of loans under BP 001 - Employee Computer Purchase Assistance Program Page 1 of 3
Item 5.c.
CENTRAL SAN
August 25, 2020
TO: FINANCE COMMITTEE
FROM: KEVIN MIZUNO, FINANCE MANAGER
REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION
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 has for many years offered an Employee Computer Purchase Assistance Program, which
provides employees with a low cost funding source to purchase a personal computer and/or other
authorized hardware for the purpose of improving computer skills. Board Policy (BP) 001, which provides
the framework for this program, 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
June 30, 2020. 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 ratepayers apart
from the relatively minor staff time associated with administering it. Other program highlights include the
following:
• The annual total 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 25, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 114 of 118
Page 2 of 3
Status of Participation and Outstanding Loans
As of June 30, 2020, the revolving loan fund had a total of$12,892.78 in outstanding loans, including
interest. During the fiscal year ending June 30, 2020, six(6) loans in the amount of$11,374.73 were
extended, demonstrating this continues to be a benefit of interest to some Central San employees. The
utilization trend in recent years follows:
Year New Loans
------ ---------------
FY 2019-20 6
FY 2018-19 10
FY 2017-18 9
FY 2016-17 9
FY 2015-16 11
With schools offering remote learning rather than on-site instruction, it is possible that there may be an uptick in
interest in the program in the coming months for Central San families who are in this situation, and who may
wish to purchase or upgrade a computer.
Strategic Plan Tie-In
GOAL THREE:Fiscal Responsibility
Strategy 2—Ensure integrity and transparency in financial management
ATTACHMENTS:
1. BP 001 - Employee Computer Loan Program
August 25, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 115 of 118
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 25, 2020 Regular FINANCE Committee Meeting Agenda Packet- Page 116 of 118