HomeMy WebLinkAbout2004-01-13 - Finance-Accounting Committee Meeting MinutesITEM NO. 11
AGENDA REPORT
DATE:
TO:
FROM:
SUBJECT:
January 22, 2004
President and Members of the Board
Finance Committee
Summary Minutes of the Finance Committee Meeting
APPROVED BY THE BOARD Of DIRECTC~r~;;
OF THE YORBA LW WATER DISTRICT.
JAN
The Finance Committee held a meeting on January 13, 2004. Present were Directors Arthur
C. Korn and John W. Summerfield and staff members Michael Payne and Beverly Meza.
The following items were discussed by the committee.
I . Contract with Moreland & Associates: Beverly Meza reported that the current
contract ended with Moreland and Associates with the 2003 Annual Report.
Moreland and Associates are currently doing a cash audit for the District. Ms. Meza
suggested that the contract be extended to Moreland & Associates. The Committee
discussed this item and asked questions. This item will be presented to the Board of
Directors at a future board meeting.
2. investments: Beverly Meza. reported that the District was approved by Orange
County Investment Pool to invest in the county's pool. Ms. Meza reported she
would be making the first transfer of funds into this account. The committee asked
several questions and discussed the liquidity of the District's investments.
3. Legislative Advocate: Mike Payne reported that he had spoken to Mr. Barry
Brokaw, our Sacramento Advocate about the state budget crises. He reported that he
had invited Mr. Brokaw to a board meeting in February or March to report to the
board. The committee discussed this item.