HomeMy WebLinkAbout2005-07-26 - Finance-Accounting Committee Meeting MinutesITEM NO. l (0 b
MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE
July 26, 2005
APPBOUE08YRE NWOFOIRECTORB
OF THE YORIA LIHOA WATER 01STW
AUG i 1 s
A meeting of the Finance-Accounting Committee was called to order by William R. Mills, Jr. at
8:35 a.m. The meeting was held at the District Headquarters, 4622 Plumosa Drive, Yorba
Linda.
DIRECTORS PRESENT
William R. Mills, Jr., Chair
Ric Collett
STAFF PRESENT
Michael A. Payne, General Manager
Beverly Meza, Business Manager
ALSO PRESENT
Lynn Love, Vice President Relationship Manager - Wells Fargo Bank
Keith Khorey, Principal - Wells Capital Management
Kathleen Storms Barnes, Principal - Wells Capital Management
ACTION ITEMS:
1. None
STANDING ITEMS:
2. Presentation by Wells Fargo Bank and Wells Capital Management - Banking Services
and Investments.
Ms. Love began the committee meeting by making a presentation to the committee on
ways to improve the District's checking and savings accounts and at the same time
reduce the fees. Keith Khorey and Kathleen Storms Barnes made a presentation on
various ways the District can improve financial returns on its investments. The
Committee asked many questions about Wells Fargo Bank and Wells Capital
Management services and about the District's current investment policy.
Lynn Love, Keith Khorey and Kathleen Storms Barnes left the meeting at the
conclusion of this item.
INFORMATION ITEMS:
3. Agenda Report - Financial Summaries.
Staff discussed possible changes to the District's standard Agenda Reports and
Committee Reports pertaining to additional information regarding financial activities. The
Committee mad useful suggestions on changes.
The committee adjourned at 10:05 a.m.