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Item 15.a.
CENTRALSAN
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CENTRAL CONTRA COSTA SANITARY DISTRICT
July 1, 2021
TO: HONORABLE BOARD OF DIRECTORS
FROM: ROGER S. BAILEY, GENERAL MANAGER
SUBJECT: ANNOUNCEMENTS - JULY 1, 2021
Attached are the announcements for the above meeting.
ATTACHMENTS:
1. General Manager Written Announcements
July 1, 2021 Regular Board Meeting Agenda Packet- Page 202 of 231
Page 2 of 3
Attachment 1
Board Meeting of July 1 , 2021
General Manager Written Announcements
HUMAN RESOURCES
1) Central San Welcomes New Engineering Assistant I Taylor Gay
Taylor Gay recently joined the Development Services team on June 21 as an Engineering
Assistant I at the Permit Counter. Taylor's career at Central San started back in 2017
when she began working at the Permit Counter as a summer student and returned each
year since. In 2020, she progressed to a student intern where her main focus was
assisting with the Oracle permitting software implementation, all while finishing her
degree in Environmental Science at UC Davis. Taylor follows in the steps of her father,
Central San retiree Bill Gay, who is also excited about Taylor starting her career at
Central San! The entire Permit Counter team is proud to welcome Taylor as a full-time
member.
2) Central San Welcomes New Staff Engineer Kevin Yoshiki
Kevin Yoshiki joined the Capital Projects Division on June 21 as a Staff Engineer. He
graduated from UC Davis in 2015 with a B.S. in Civil Engineering and earned his PE in
Civil Engineering in 2020. Kevin joins Central San from Greenwood & Moore where he
worked since 2017, and has experience in developing plans and contract documents,
surveying, and construction inspection. He will be working on the design and construction
of Collection System Program renovation projects, including Phase 8 of the South Orinda
and North Orinda Sewer Renovation projects. Capital Projects is pleased to have Kevin
join their team.
FINANCE
3) Successful Closing of Certificates of Participation Transaction and Paydown
of CCCERA UAAL
On June 24, the Certificates of Participation (COPs) borrowing transaction successfully
closed. After payment of issuance costs, a net payment of $58,000,000 was transferred to
Central San's account at the Contra Costa County Treasurer's Office (County Treasurer).
Concurrently, $12,763,669 was drawn down from the Pension Prefunding Trust (leaving a
balance of approximately $45,000) and was also transmitted to Central San's account at
the County Treasurer's.
On June 25, $70,763,669 was scheduled as a wire transfer from the Central San account
to the Contra Costa County Employees' Retirement Association (CCCERA). This amount
will fully retire Central San's unfunded actuarial accrued liability (UAAL) existing as of this
July 1, 2021 Regular Board Meeting Agenda Packet- Page 203 of 231
Page 3 of 3
Written Announcements
July 1, 2021
Page 2 of 2
date. With the full UAAL pay down, all of the existing UAAL layers comprising the
$70,763,669 UAAL will be eliminated, and the UAAL payments that Central San was to
have made over the next seven years will be eliminated in full.
Staff expects to bring a budget amendment to the FY 2021-22 Budget in the coming
weeks for Board approval to make a reduction in the Operations and Maintenance budget
reflective of the eliminated UAAL payments, and a lesser increase in the debt service
budget for principal and interest payments on the COPs. Future year actuarial changes
and investment results could result in new UAAL layers but, as of the present time, the
UAAL has been eliminated. This successfully concludes the Board's multi-year effort to
reduce employment related unfunded liabilities while delivering on two important goals:
providing full funding for a promised employee benefit, while saving ratepayers the cost of
interest on the unfunded liabilities.
July 1, 2021 Regular Board Meeting Agenda Packet- Page 204 of 231