HomeMy WebLinkAbout2007-10-03 - Finance-Accounting Committee Meeting Minutes•
• ITEM NO. L4 .1
MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE
October 3, 2007
A meeting of the Yorba Linda Water District Finance-Accounting Committee was called
to order by Committee Chairman William R. Mills at 4:00 p.m. The meeting was held at
District Headquarters, 4622 Plumosa Drive, Yorba Linda.
DIRECTORS PRESENT: STAFF PRESENT:
Director William R. Mills, Chair Michael Payne, General Manager
Director Michael J. Beverage Ken Vecchiarelli, Assistant General Mgr.
John DeCriscio, Chief Plant Operator
VISITORS PRESENT:
None
ACTION ITEMS:
1. None
DISCUSSION ITEMS:
2. Discussion of Water Rates - General Manager Payne gave a brief overview of the
water rate process. There were a number of policy issues that staff needed direction
in order to complete the water rate report. These issues were presented and
discussed by the committee. The committee discussed the MWDOC refunds that
were recently received and concurred with staff that a one time refund be made to
the water customers in conjunction with the water rate hearing. The committee also
discussed the replenishment assessments that were imposed by OCWD several
years ago. OCWD stated they would refund the money once the State reinstated
OCWD's share of the 1%. Instead OCWD later increased the RA. The committee
requested staff address this issue in the water rate study. It was decided that YLWD
could not refund these rates as a result of OCWD's change in philosophy. The
committee discussed the rate increase YLWD imposed in 2004 on our loss of the
1% of the property taxes. The committee discussed and concurred that a written
policy be developed stating the District's intentions of passing through all future rate
increases passed on to us by the following agencies. MWDOC, MWD, OCWD, SCE,
and Gas company. Staff will address the cost to issue debt to fund the Capital
Projects identified in the Budget as part of the water rate report. Michael Payne
stated the District is intending to develop an R & R plan but that it would not be
finished this year. The committee concurred that this is a large project and that staff
should not rush the project. The Committee offered advise on setting funds
ADJOURNMENT: The committee adjourned at approximately 5:08 p.m. The next
Finance-Accounting Committee meeting is scheduled for October 9th at 4:00 p.m. at
District Headquarters, 4622 Plumosa Drive, Yorba Linda, CA.
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