HomeMy WebLinkAbout2006-04-12 - Finance-Accounting Committee Meeting MinutesOF THE OF&UDAWA11R 0 STR CTS 134
ITEM NO.
APR 2 7 2 6 MINUTES OF THE
YORBA LINDA WATER DISTRICT
gy FINANCE-ACCOUNTING COMMITTEE
April 12, 2006
A meeting of the Yorba Linda Water District Finance-Accounting Committee was called
to order by Committee Chairman Ric Collett at 4:00 p.m. The meeting was held at
District Headquarters, 4622 Plumosa Drive, Yorba Linda.
COMMITTEE:
Director Ric Collett, Chairman
Director William R. Mills
VISITORS PRESENT:
None
STAFF PRESENT:
Michael Payne, General Manager
Kenneth Vecchlarelii, Assistant GM
Diane Cyganik, Finance Director
STANDING ITEMS
3. Monthly status of investments as of March 31, 2006 - Keith Khorey, Principal of
Wells Capital Management called in via conference call at 4:03 p.m. to discuss the
monthly investment reports and answer questions from the committee members.
Following Mr. Khorey's report, the Committee members thanked him and concluded the
telephone conference.
ACTION ITEMS
1. Independent Accountants Report on Applying Agreed-Upon Procedures - Agreed-
Upon Procedures were performed by the independent firm of Moreland &
Associates, Inc., in conjunction with the retirement of Beverly Meza, Business
Manager as of December 31, 2005. The report assessed the accountability of cash
and investments as well as the final pay compensation in respect to Ms. Meza's
retirement.
2. Consider changes to the financial statements - The Committee discussed
recommended changes and reformatting the financial statements.
INFORMATION ITEMS
4. None
ADJOURNMENT:
The Committee adjourned at 4:46 p.m. The next Finance-Accounting Committee
meeting is scheduled for May 2, 8:00 a.m. at District Headquarters, 4622 Plumosa
Drive, Yorba Linda, CA.
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