HomeMy WebLinkAbout2019-01-22 - Board of Directors Meeting Minutes 2019-005
MINUTES OF THE
YORBA LINDA WATER DISTRICT
BOARD OF DIRECTORS REGULAR MEETING
Tuesday, January 22, 2019, 6:30 p.m.
1717 E Miraloma Ave, Placentia CA 92870
1. CALL TO ORDER
The meeting was called to order at 6:30 p.m.
2. PLEDGE OF ALLEGIANCE
3. ROLL CALL
DIRECTORS PRESENT STAFF PRESENT
Brooke Jones, President Brett Barbre, Assistant General Manager
Phil Hawkins, Vice President John DeCriscio, Operations Manager
Andrew J. Hall Gina Knight, HR/Risk and Safety Mgr (Arrived 6:50 p.m.)
J. Wayne Miller Delia Lugo, Finance Manager
Al Nederhood Rosanne Weston, Engineering Manager
Annie Alexander, Exec Asst/Board Secretary
Mike Carreon, Facilities Maintenance Worker
Kaden Young, Management Analyst
ALSO PRESENT
Andrew Gagen, General Counsel, Kidman Gagen Law LLP
Shawn Dewane, Investment Management Consultant, Raymond James
4. ADDITIONS/DELETIONS TO THE AGENDA
None.
5. INTRODUCTIONS AND PRESENTATIONS
5.1. Elected Official Liaison Reports
None.
6. PUBLIC COMMENTS
None.
Minutes of the YLWD Board of Directors Regular Meeting Held January 22,2019 at 6:30 p.m. 1
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7. CONSENT CALENDAR
Director Nederhood requested to remove Item No. 7.2 from the Consent
Calendar for separate action.
Director Hawkins made a motion, seconded by Director Hall, to approve the
Consent Calendar. Motion carried 5-0-0-0.
7.1. Minutes of the Board of Directors Regular Meeting Held January 8, 2019
Recommendation: That the Board of Directors approve the minutes as
presented.
ITEMS REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION
7.2. Payments of Bills, Refunds, and Wire Transfers
Staff responded to questions from the Board regarding some items on the
Check Register.
Director Nederhood made a motion, seconded by Director Hawkins, to
ratify and authorize disbursements in the amount of $4,658,625.69.
Motion carried 5-0-0-0.
8. DISCUSSION ITEMS
8.1. Laddering of the District's Investment Portfolio
Shawn Dewane provided a presentation regarding Raymond James'
investment services. He reviewed the firm's background and experience,
investment tools and strategies, and monitoring and communication
processes. Discussion followed regarding various investment portfolio
options. Staff will work with Mr. Dewane to prepare an agreement with
Raymond James for Board consideration at the next regular meeting.
8.2. Capital Improvement Plan Funding Policy (Pay-Go vs. Debt)
Staff reviewed the District's debt funding history and associated capital
improvement projects and the advantages/disadvantages of utilizing cash
versus debt to fund projects. Staff also provided funding
recommendations for future projects. Following brief discussion, staff
noted that a policy would be drafted for Board review at a future meeting.
Julia Schultz, resident, commented on the complexities involved with
managing the District's finances.
Minutes of the YLWD Board of Directors Regular Meeting Held January 22,2019 at 6:30 p.m. 2
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Staff then reviewed key information contained in the following financial
reports.
8.3. Budget to Actual Statements for Month Ending December 31, 2018
8.4. Cash and Investment Report for the Period Ending December 31, 2018
9. REPORTS, INFORMATION ITEMS. AND COMMENTS
9.1. Directors' Reports
■ Intergovernmental Meetings, Conferences, and Events
The Directors noted their attendance at the listed meetings and
events.
9.2. General Manager's Report
Assistant General Manager Brett Barbre asked each of the managers to
report on activities within their respective departments.
9.3. General Counsel's Report
None.
9.4. Future Agenda Items and Staff Tasks
Directors Miller and Hall asked staff to obtain multiple investment
scenarios from Raymond James for Board consideration.
Director Nederhood requested an update on the status of District
investments held in Public Agency Retirement Services (PARS) Post-
Employment Benefits Trust.
10. COMMITTEE REPORTS
10.1. Interagency Committee with MWDOC and OCWD
(Jones/Hawkins)
■ Next meeting is scheduled January 24, 2019 at 4:00 p.m.
10.2. Joint Agency Committee with City of Yorba Linda
(Jones/Hawkins)
Minutes of the YLWD Board of Directors Regular Meeting Held January 22, 2019 at 6:30 p.m. 3
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■ Minutes of the meeting held December 10, 2018 at 4:00 p.m. were
included in the agenda packet.
■ Next meeting is scheduled March 11, 2019 at 4:00 p.m. at YL City
Hall.
10.3. Joint Agency Committee with City of Placentia
(Jones/Hawkins)
■ Minutes of meeting held January 22, 2019 at 8:30 a.m. to be
provided when available.
■ Next meeting yet to be scheduled.
11. BOARD OF DIRECTORS ACTIVITY CALENDAR
11.1. Meetings from January 23 — March 31, 2019
The Board made no changes to the activity calendar.
12. ADJOURNMENT
12.1. The meeting was adjourned at 8:49 p.m.
�, �-
Annie Alexander
Board Secretary
Minutes of the YLWD Board of Directors Regular Meeting Held January 22, 2019 at 6:30 p.m. 4