HomeMy WebLinkAbout2008-07-08 - Finance-Accounting Committee Meeting MinutesITEM NO. 7' (f_
MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE
July 8, 2008
A meeting of the Yorba Linda Water District Finance-Accounting Committee was called
to order by Committee Chairman Michael J. Beverage at 4:00 p.m. The meeting was
held at the District's offices, 1717 E. Miraloma Ave, Placentia.
DIRECTORS PRESENT:
Director, Michael J. Beverage, Chair
Director John W. Summerfield
STAFF PRESENT:
Michael Payne, General Manager
Ken Vecchiarelli, Assistant GM
Sandi Van Etten, Senior Accountant
ACTION ITEMS:
1. Review May 2008 Financial Statements.
The Financial Statements were reviewed by the Committee. It was recommended
that the monthly Financial Statements for May 31, 2008 be received and filed by
the Board of Directors.
DISCUSSION ITEMS:
2. Presentation by Diehl Evans & Company, LLP.
Mr. Nitin Patel, CPA, from Diehl Evans, gave a presentation to the Committee. The
directors asked several questions. The auditors will give an exit presentation to the
Committee at the end of the audit.
3. Review of the Investment Report dated May 31, 2008.
The Investment Report for month ending May 31, 2008 was discussed and
accepted as presented.
4. Status report on Wells Capital portfolio investments as of May 31, 2008.
The Committee passed on the call to Keith Khorey. Staff had previously talked to
him, and there were no concerns at this time.
ADJOURNMENT:
The Committee adjourned at approximately 4:45 p.m. The next Finance-Accounting
Committee meeting is scheduled for August 12th at 4:00 p.m. at the District's offices,
1717 E. Miraloma Avenue, Placentia, CA.
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