HomeMy WebLinkAbout2008-01-08 - Finance-Accounting Committee Meeting MinutesITEM NO. 8f-1
MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE
January 8, 2008
A meeting of the Yorba Linda Water District Finance-Accounting Committee was called
to order by Committee Chairman William R. Mills at 8:30 a.m. The meeting was held at
District Headquarters, 4622 Plumosa Drive, Yorba Linda.
DIRECTORS PRESENT:
Director William R. Mills, Chair
Director Michael J. Beverage
STAFF PRESENT:
Michael Payne, General Manager
Ken Vecchiarelli, Assistant GM
Sandi Van Etten, Sr. Accountant
VISITORS PRESENT:
None
ACTION ITEMS:
1. Termination of Professional Services Agreement with Charles Z. Fedak & Co. The
committee recommended termination of the contract with Charles Z. Fedak & Co.
as the District's auditors. The previous District auditors may be included in the RFP
process to solicit new auditors.
DISCUSSION ITEMS:
2. Further discussion of Water Rate Report - 2008. Directors Beverage and Mills
revisited the assumptions used in preparing the water rate report. The report is
accurate as stated.
3. Review of Investment Report for the month ending November 30, 2007. The
Investment Report for month ending November 30, 2007 was discussed and
accepted as presented.
4. Monthly status report on portfolio investments ending December 31, 2007. Keith
Khorey, Principal of Wells Capital Management, was on standby for a conference
call. It was decided to bypass the discussion this time, eliminate a routine call to him
and contact him as needed.
ADJOURNMENT:
The Committee adjourned at 11:30 a.m. The next Finance-Accounting Committee
meeting is scheduled for February 12, 4:00 p.m., at District Headquarters, 4622
Plumosa Drive, Yorba Linda, CA.