HomeMy WebLinkAbout2008-05-13 - Finance-Accounting Committee Meeting MinutesITEM NO. 9- Z6
MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE
May 13, 2008
A meeting of the Yorba Linda Water District Finance-Accounting Committee was called
to order by Committee Chairman Mike Beverage at 4:00 p.m. The meeting was held at
the District's offices, 1717 E. Miraloma Ave, Placentia.
DIRECTORS PRESENT:
Director Michael J. Beverage, Chair
Director John W. Summerfield
Alternate: Director William R Mills
STAFF PRESENT:
Michael Payne, General Manager
Lee Cory, Operations Manager
Diane Cyganik, Finance Director
Stacy Bavol, Customer Serv. Supervisor
Sandi Van Etten, Senior Accountant
ACTION ITEMS:
1. Consider adjustments to the Customer Service, Developer, and FOG fees.
After discussion and questions to the staff about the fee adjustments, the
committee recommended that the fees be increased effective July 1, 2008. It was
noted that the Customer Service and Developer fees have not been increased
since 2003. The Fats, Oils and Grease (FOG) fee is a new fee relating to the
sewer system. There was much discussion of this new fee, referencing
spreadsheets that established the cost. The first three FOG fees were accepted as
presented. However, the Committee recommended that the Mitigation Fee have a
minimum amount established, with the rates for labor and vehicles listed, but not
the number of hours.
DISCUSSION ITEMS:
2. Status report on Wells Capital portfolio investments as of April 30, 2008
The call to Mr. Khorey was cancelled due to no major change in the markets.
3. Review of the Investment Report ending March 31, 2008.
The Investment Report for month ending March 31, 2008 was discussed and
accepted as presented. The committee requested that staff look into the benefit of
paying off the 2003 bonds, and determine if this was allowed in that bond issue.
4. Cash-out audit for General Manger
This will be passed to the board of directors for review and discussion regarding
the need to do a cash-out audit of the General Manager.
5. District's Purchasing Policy
The committee suggested more thought be put into how this policy should be
changed.
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ADJOURNMENT:
The Committee adjourned at approximately 5:10 p.m. The next Finance-Accounting
Committee meeting is scheduled for June 10th at 4:00 p.m. at the District's offices, 1717
E. Miraloma Avenue, Placentia, CA.
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