HomeMy WebLinkAbout2005-06-14 - Finance-Accounting Committee Meeting MinutesITEM NO. /2 f)lo
MINUTES OF THE
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE
June 14, 2005
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A meeting of the Finance-Accounting Committee was called to order by William R. Mills, Jr.
4:07 p.m. The meeting was held at the District Headquarters, 4622 Plumosa Drive, Yorba
Linda.
DIRECTORS PRESENT
William R. Mills, Jr.
Ric Collett
STAFF PRESENT
Michael A. Payne, General Manager
Beverly Meza, Business Manager
ALSO PRESENT
None
ACTION ITEMS:
1. None
STANDING ITEMS:
2. District's Investment Policy
Michael Payne and Beverly Meza reviewed the District's Investment Policy with the
committee. The policy was compared to several other agencies to see if the District's
policy was up to today's standards. The committee offered suggestions and staff will
report back on State codes.
INFORMATION ITEMS:
3. Review of District's Investments
Michael Payne and Beverly Meza reviewed the District's investments with the committee.
All of the various investments in the District's portfolio were discussed. The committee
felt that more money should be invested into certificates of deposits due to the higher
interest rates. The contract with Wells Fargo bank was also discussed and staff is to
follow up with questions about the contract and rates.
The committee adjourned at 5:05 p.m.