HomeMy WebLinkAbout2009-10-13 - Board of Directors Meeting Minutes
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' MINUTES OF THE
YORBA LINDA WATER DISTRICT
BOARD OF DIRECTORS SPECIAL MEETING
October 13, 2009
1. CALL TO ORDER
The October 13, 2009 special meeting of the Yorba Linda Water District Board of
Directors was called to order by President Summerfield at 4:00 p.m. The
meeting was held at the District's Administrative Office at 1717 E Miraloma Ave,
Placentia CA 92870.
2. PLEDGE OF ALLEGIANCE
3. ROLL CALL
DIRECTORS PRESENT STAFF PRESENT
John W. Summerfield, President Ken Vecchiarelli, General Manager
William R. Mills, Vice President Pat Grady, Assistant General Manager
Paul R. Armstrong Art Kidman, Legal Counsel
Michael J. Beverage Cindy Navaroli, Interim Finance Director
Stacy Bavol, Customer Svc Supervisor
' Annie Alexander, Executive Secretary
DIRECTORS ABSENT
Ric Collett
OTHER VISITORS
Nitin Patel, Partner, Diehl Evans & Company
Daphnie Munoz, Manager, Diehl Evans & Company
Laurie Park, Associate, McCormick, Kidman & Behrens
4. ADDITIONS/DELETIONS TO THE AGENDA
Mr. Vecchiarelli requested that the Board consider removing Item No. 7.1. from
the agenda for discussion by the Finance-Accounting Committee at its next
meeting. Following discussion, Item No. 7.1. was removed from the agenda and
the Finance-Accounting Committee meeting was rescheduled to Tuesday,
October 27, 2009 at 4:00 p.m.
5. PUBLIC COMMENTS
None.
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6. ACTION CALENDAR '
6.1. FY 08/09 Audited Financial Statements
Ms. Navaroli introduced Mr. Patel and Ms. Munoz, auditors for the District.
Mr. Patel provided a brief summary of the draft financial statements and
stated that a correction would be made to the amount listed in column (a)
of page 54 in the final financial statements. The amount $2,950,127 will
be changed to $1,740,127. Mr. Patel stated that the District would be
issued an unqualified or "clean" opinion. Recommendations have also
been made to staff regarding internal controls which are in the process of
being implemented. This year the District implemented GASB 45 which
requires a disclosure on obligations for post employment benefits.
Ms. Navaroli and Mr. Vecchiarelli then responded to questions from the
Board.
No action was taken on this item. The final audited financial statements
will be presented to the Board at the next meeting on October 21, 2009.
Mr. Patel and Ms. Munoz left the meeting at this time.
6.2. GASB 43 & 45 Actuarial Valuation '
Ms. Navaroli explained that the District had performed an actuarial study
of retiree health liabilities pursuant to GASB 43 and 45 for fiscal year
2008/2009. The Finance-Accounting Committee reviewed the study and
recommended that it be forwarded to the Board for approval.
On a motion by Director Mills, seconded by Director Armstrong, the Board
voted 4-0 to receive and file the FY 08109 actuarial report for other post
employment benefits (OPEB).
6.3. Credit to Customers for New Water Rate Increase Applied Prior to
September 14, 2009 and Preliminary Adjustments to FY 09/10 Budget
Amendments
Mr. Vecchiarelii explained that staff was recommending that the Board of
Directors approve a credit to District customers for water usage prior to
September 14, 2009 which was billed at the new rate. Mr. Vecchiarelli
provided a sample bill to the Board which identified how the credit would
be listed. Mr. Vecchiarelli then responded to questions from the Board
regarding the impact on the District's debt service ratio and required
amendments to the fiscal year 2009/2010 budget.
On a motion by Director Mills, seconded by Director Beverage, the Board
voted 4-0 to approve a credit to the District's customers in the amount of '
the approved water rate increase that was applied and prorated to water
usage and minimum service charges prior to September 14, 2009.
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' On a motion by Director Beverage, seconded by Director Mills, the Board
voted 4-0 to authorize staff to prepare the proposed FY 09110 Budget
adjustments consistent with the revisions in Column C of the exhibit for
consideration by the Board to receive and file at their next scheduled
meeting.
7. ADJOURNMENT
7.1. The meeting was adjourned at 4:36 p.m. The next meeting of the Board
of Directors will be held October 21, 2009 at 8:30 a.m.
Ken Vecchiarelli
Board Secretary
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