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HomeMy WebLinkAbout2011-12-27 - Finance-Accounting Committee Meeting Minutes MINUTES OF THE YORBA LINDA WATER DISTRICT FINANCE-ACCOUNTING COMMITTEE MEETING December 27, 2011 A meeting of the Finance-Accounting Committee was called to order by Director Collett at 4:00 p.m. The meeting was held at the District's Administrative Office at 1717 E. Miraloma Ave, Placentia CA 92870. COMMITTEE STAFF Director Ric Collett, Chair Stephen Parker, Finance Manager Director Robert R. Kiley Cindy Botts, Management Analyst 1. PUBLIC COMMENTS None. 2. ACTION CALENDAR 2.1. Adopting Water Development and Customer Service Fees Mr. Parker presented the Finance-Accounting Committee with the updated water development and customer service fees. He mentioned that Cindy Botts was instrumental in helping through the process of updating the water development and customer service fees, and she was there to help answer any questions he might not be able to address. Mr. Parker further explained some of the new types of fees that were included as a result of changes to the water rules and regulations, which the Executive- Administrative-Organizational Committee had reviewed and given support to staff's recommendation on December 20th. Mr. Parker also explained the recommended change in the plan check fees, which would change the structure of how the fees were assessed from a per connection basis to a flat rate based on the range of the number of connections needing plan checks. The Committee wanted clarification on the differences in fees that existed previously, and requested staff create an excel schedule that clearly showed the previous and currently proposed fees. Mr. Parker indicated that he would have that item as an attachment when it was submitted to the full Board as an action item. Mr. Parker explained that it could be submitted as quickly as January 12, 2012, but that there was some items being reviewed by legal that might hold it up until the January 26th Board meeting. The Committee supported staff's recommendation. At this time Ms. Botts left the meeting. 1 3. DISCUSSION ITEMS 3.1. November 2011 Budget to Actual Results Mr. Parker discussed the November budget to actual results with the Committee. He explained that the majority of the line items are trending at or below budgeted expectations, with just a few exceptions. Those exceptions are due to timing differences or have been previously addressed. As there was nothing dramatic that had changed since the previous month's report, the Committee had no further questions. 3.2. Investment Report for Period Ending November 30, 2011 Mr. Parker presented the investment report for the period ending November 30, 2011. He explained the changes from the previous month included funding reserves, paying for CIP projects and a decrease in the Water Operating fund due to a decrease in the monthly accounts payable activity. He also identified that the yield for the month increased to slightly over 1 The Committee inquired about the yields that other water districts were receiving for their investments. Mr. Parker explained that such information was not tracked in a common place, and that he would have to investigate agency by agency. The Committee added this investment yield comparison with other local water districts as a future task item. 3.3. Status of Strategic Plan Initiatives Mr. Parker reviewed the updated strategic plan initiatives with the Committeee. Mr. Parker explained that once the January workshop takes place, almost all of the strategic plan initiatives will have been completed. The 5-year financial plan will be revised and incorporated in the upcoming budget, and the sewer rules and regulations and corresponding fee schedule changes would be worked on in the spring. The only remaining items are annually focused, recurring or ongoing. 3.4. Future Agenda Items and Staff Tasks • The Committee asked that an excel schedule be created that shows the changes in the water development and customer service fees when it is submitted to the whole Board. • The Committee asked that as a future item a comparison of the investment yield be made with other local water districts. 4. ADJOURNMENT 4.1. The Committee adjourned at 4:32 p.m. The next meeting of the Finance- Accounting Committee will be held January 23, 2012 at 4:00 p.m. 2