HomeMy WebLinkAbout02. Approve expenditures Page 1 of 3
Item 2.
CENTRALSAN
SANITARYjdf A- hom
CENTRAL CONTRA COSTA , .
September 3, 2020
TO: HONORABLE BOARD OF DIRECTORS
FROM: TODD SMITHEY, FINANCE ADMINISTRATOR
KEVIN MIZUNO, FINANCE MANAGER
REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION
ROGER S. BAILEY GENERAL MANAGER
SUBJECT: APPROVE EXPENDITURES INCURRED JULY23THROUGHA000ST6,
2020
Normally, the Finance Division conducts a weekly check run to issue vendor payments for approved
expenditures and releases those warrants the same week. As part of Central San's response to the
COVI D-19 pandemic, the frequency of check runs has been temporarily reduced to every other week to
implement social distancing and reduce potential exposure resulting from physical deliveries of checks to
the Contra Costa County Treasurer's Office for counter signature. 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 that have not yet been reviewed and recommended for Board approval by the
Finance Committee. Following review and recommendation by the Finance Committee, the expenditures
packet is then distributed to the full Board for review and approval at the next regularly scheduled public
Board meeting.
This packet includes District payments issued during the time frame July 23, 2020, through August 06,
2020. During this time frame a total of $35,025,787.23 in payments were made between the District's
Running Expense, Sewer Construction, Self-I nsurance and Payroll funds maintained by the Contra Costa
County Treasurer's Office. The largest expenditure in this time frame was a payment to the District's
pension administrator, Contra Costa County Employees' Retirement Association (CCCERA), for$18.6
million. 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, 2021. This annual practice
has resulted in net savings as prepayments to CCCERA are anticipated to earn the actuarially expected
return of 7%, which is expected to exceed the District's current year investment portfolio yield (weighted
average investment yield of approximately 1.38% in May 2020). Estimated savings resulting from this
prepayment approach were incorporated in the current year's adopted budget.
Strategic Plan Tie-In
GOAL THREE:Fiscal Responsibility
Strategy 2—Ensure integrity and transparency in financial management
September 3, 2020 Regular Board Meeting Agenda Packet- Page 18 of 172
Page 2 of 3
ATTACHMENTS:
1. Expenditures-Replacement Sheet
September 3, 2020 Regular Board Meeting Agenda Packet- Page 19 of 172
Page 3 of 3
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 3, 2020 Regular Board Meeting Agenda Packet- Page 20 of 172