HomeMy WebLinkAboutFinance MINUTES 06-20-23Page 2 of 5
110ENTRAL SAN
REGULAR MEETING OF THE
BOARD OF DIRECTORS:
BARBARA D. HOCKETT
CENTRAL CONTRA COSTA
President
SANITARY DISTRICT
MARIAHNLAURITZEN
President Pro Tent
FINANCE COMMITTEE
MICHAELR.MCGILL
M I N U T E S
TAD J PHECKI
FLORENCE T WEDLNGTON
Tuesday, June 20, 2023
9: 30 a.m. PHONE: (925) 228-9500
FAX.- (925) 372-0I92
www.central.san.org
('nmmittaa
Chair Barbara Hockett
Member Mariah Lauritzen
Staff.
Roger S. Bailey, General Manager
Katie Young, Secretary of the District
Philip Leiber, Deputy General Manager — Administration
Greg Norby, Deputy General Manager — Operations
Edgar Lopez, Provisional Director of Engineering and Technical Services (arrived during
Item 3.a.)
Danea Gemmell, Planning and Development Services Manager
Kevin Mizuno, Finance Manager
Christopher Thomas, Accounting Supervisor (arrived during Item 3.b.)
Olivia Ruiz, Accounting Supervisor
Shari Deutsch, Risk Management Administrator (arrived during Item 3.5.)
Russ Leavitt, Engineering Assistant III
1. Call Meetina to Order
Chair Hockett called the meeting to order at 9:30 a.m.
2. Public Comments
None.
3. Items for Committee Recommendation to the Board
a. Review and recommend approval of expenditures incurred May 12, 2023
through June 8, 2023
The Committee had no questions and recommended Board approval.
COMMITTEE ACTION: Recommended Board approval.
July 6, 2023 Regular Board Meeting Agenda Packet - Page 116 of 163
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Finance Committee Minutes
June 20, 2023
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b. Receive the Budget -to -Actual Expenditure overview through the month of
May 2023
The Committee had no questions and recommended Board approval.
COMMITTEE ACTION: Recommended Board approval.
C. Receive Procurement Card Internal Audit Report
Ms. Young advised that Mr. Johnson is unable to attend the meeting today,
but the presentation was included in the packet should the Committee have
any questions.
Chair Hockett stated that she was impressed by the presentation and looked
forward to hearing it with the full Board.
Member Lauritzen requested the circle graph included in the presentation be
changed to a 2D graph.
COMMITTEE ACTION: Recommended Board approval.
d. Review draft Position Paper to set public hearing on August 17, 2023 p.m. to
consider approving Central San membership in the California Municipal
Finance Authority (CMFA) and participation in the Bond Opportunities for
Land Development (BOLD) Program
Mr. Leavitt reviewed the draft Position Paper included in the agenda
materials. He noted that the developer of a large, planned residential project
in downtown Lafayette is participating with the City of Lafayette in a program
to allow property owners to finance public capital improvements and/or
development impact fees for public capital improvements imposed on new
developments (such as our Capacity Fee). The developer would like Central
San to likewise participate in this program so that similar expenses required
of the development by Central San also would qualify for the financing
program. He advised that the estimated qualifying Central San fees would be
just over $600, 000.
Mr. Leavitt stated that to assist local governments in establishing and
managing efficient, low-cost bond financing programs for land development
projects, the CMFA was established as a state-wide joint powers authority
(JPA). CMFA offers the BOLD Program to provide its members in the State a
means to accommodate community facilities district (CFD) formation and
bonding within their jurisdiction. He informed the Committee that for land
developers to use the BOLD Program for qualifying expenses, Central San
needs to hold a public hearing to approve joining the CMFA and participating
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Finance Committee Minutes
June 20, 2023
Page 3
in the BOLD Program. He stated that participation in said program will
enable property owners to finance public capital improvements and/or
development impact fees for public capital improvements imposed on new
development within the boundaries of Central San. These public capital
improvements, if financed, will be among the public capital improvements
required in connection with a given development project. Said development
impact fees, if financed, will be used by Central San to pay for public capital
improvements that will serve Central San. Finally, he stated that participation
in this program does not itself authorize Central San to impose additional
public capital improvements or new or additional development impact fees
on any property owner.
In response to a question posed by Mr. Bailey, Mr. Brightbill responded that
there is a minimum project size requirement and generally only medium and
large-scale projects are accepted.
Staff answered other non -technical questions posed by the Committee
Members and requested more information be presented at the public hearing
in August.
COMMITTEE ACTION: Recommended the Board set the public hearing
for August 17, 2023 at 2:30 p.m. to consider approving Central San
membership in the California Municipal Finance Authority (CMFA) and
participation in the Bond Opportunities for Land Development (BOLD)
Program.
4. Other Items
a. Review Risk Management Loss Control Report as of June 5, 2023
Ms. Deutsch provided a brief summary of the loss control report included in
the agenda materials.
COMMITTEE ACTION: Received the report.
5. Announcements
None.
6. Suggestions for Future Agenda Items
a. Receive list of upcoming agenda items and provide suggestions for any
other future agenda items
COMMITTEE ACTION: Received the list and provided input to staff.
July 6, 2023 Regular Board Meeting Agenda Packet - Page 118 of 163
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Finance Committee Minutes
June 20, 2023
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7. Future Scheduled Meeti
Tuesday, July 18, 2023 at 9:30 a.m.
Tuesday, August 22, 2023 at 9:30 a.m.
Tuesday, September 19, 2023 at 9:30 a.m.
8. Adjournment — at 10:01 a.m.
July 6, 2023 Regular Board Meeting Agenda Packet - Page 119 of 163