HomeMy WebLinkAbout2006-08-14 - Finance-Accounting Committee Meeting MinutesITEM NO. , I
MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE
August 14, 2006
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THE YORM LINDA WATER DISTRICT
AUG 4
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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:
Ken Vecchiarelli, Assistant G.M.
Diane Cyganik, Finance Director
DISCUSSION ITEMS
1. Sewer Maintenance Fees Projections. The Committee was pleased with the data presented
to them. They gave staff direction as to what items they would like to see in the final report.
Inclusive of those items are a write-up showing justification for rate increases, graphs, a
breakdown of operating revenues/expenses and non-operating revenues/expenses and an
average comparison of what the District's existing rate of $3.50 would be including an
inflationary factor to justify the rate increase. All of the items should be included in Sewer
Maintenance Report.
STANDING ITEMS
2. Monthly status of investments as of July 31, 2006 - Keith Khorey, Principal of Wells Capital
Management called in via conference call at 4:09 p.m. to discuss the monthly investment
reports and answer questions from the committee members. Director Collett asked Mr.
Khorey if Wells Capital could provide an annual report to show the District's progress since
inception. Mr. Khorey will provide an annual report from the period October 2005 through
October 2006.
Following Mr. Khorey's report, the Committee members thanked him and concluded the
telephone conference.
3. Preliminary Investment Report on investments ending June 30, 2006. The Investment
Report was presented and discussed. Upon completion of the audit, a final Investment
Report will be prepared and presented to the Board if audit adjustments are necessary.
INFORMATION ITEMS
4. None
ADJOURNMENT:
The next regularly scheduled Finance-Accounting Committee meeting is scheduled for
September 11, 2006.
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