HomeMy WebLinkAbout2014-03-28 - Finance-Accounting Committee Meeting Minutes MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE MEETING
Friday, March 28, 2014, 8:00 a.m.
1717 E Miraloma Ave, Placentia CA 92870
1. CALL TO ORDER
The March 28, 2014 meeting of the Yorba Linda Water District's Finance-
Accounting Committee was called to order by Director Hawkins at 8:00 a.m. The
meeting was held in the Admin Conference Room at the District's Administration
Building located at 1717 East Miraloma Avenue in Placentia, California 92870.
2. ROLL CALL
COMMITTEE STAFF
Director Phil Hawkins, Chair Steve Conklin, Acting General Manager
Director Michael J. Beverage Delia Lugo, Finance Manager
3. PUBLIC COMMENTS
None.
4. DISCUSSION ITEMS
4.1. Investment Report for the Period Ending February 28, 2014
Mrs. Lugo presented the Investment Report for the Period Ending
February 28, 2014. She noted that the average yield for the reporting
month is 0.72%. Mrs. Lugo pointed out that there were funds transferred
out of Bank of the West and into CaITRUST's Medium Term Pooled
Investment account. Director Hawkins asked if the Finance staff would be
interested in hearing a presentation by the company who handles
investments on behalf of the Orange County Cemetery District. We
expressed an interest to do so. There were no other key items to discuss.
4.2. Budget to Actual Results for February 2014
Mrs. Lugo reviewed the February 2014 Budget to Actual Results report
with the Committee. Mrs. Lugo noted that the expenditures to date are
trending as previously reported with the exception of Materials in the
Supplies and Services section of the Sewer Fund statement which are at
176% of the annual budgeted amount.
4.3. Preparation of 2014-15 Operating Budget
Mrs. Lugo and Mr. Conklin made some brief comments on the analysis
work that is being performed on the Supplies and Services accounts
especially for the projection 2014 year end balances.
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5. ADJOURNMENT
5.1. The meeting was adjourned at 8:55 a.m. The next Finance-Accounting
Committee meeting is scheduled to be held Monday, April 28, 2014 at
4:00 p.m. May's Finance-Accounting Committee meeting is scheduled to
be held on Tuesday, May 20, 2014 at 4:OOp.m.
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