HomeMy WebLinkAbout2004-04-13 - Finance-Accounting Committee Meeting MinutesITEM NO. 1T
AGENDA REPORT
DATE: April 22, 2004
TO: President and Members of the Board
FROM: Finance Committee
APPROVEO BY THE BOARD OF DIRECTORS
OF THE VORBA LINDA WATER OISTRICT.
APR 2 004
BY
SUBJECT: Summary Minutes of the Finance Accounting Committee Meeting
The Finance Accounting Committee held a meeting on April 13, 2004. Present were
Directors Arthur C. Kom and John W. Summerfield and staff members Michael Payne,
Kenneth Vecchiarelli and Beverly Meza. The following items were discussed by the
committee.
1. Internal Audits: Ms. Meza reported on recommendations for special project
auditing. Ms. Meza presented information on three items: Review of compliance
with Board policy regarding expense reimbursements to employees and Board
members. Review of District's Health care and also PERS. Ms. Meza felt the
compliance with Board policy regarding expense reimbursements was the most
important to audit. There is pending legislation relating to special district reform.
The committee discussed the audits and decided to wait and see what happens with
SB 1272.
2. MWDOC Refund: Ms. Meza reported the District had received the refund as a credit
on the February invoice. Mr. Payne presented several options on the refund... This
item will be presented to the Board of Directors at a future Board Meeting.
3. Capital Project Funding: Mr.Vecchiarelli reported there are several emergency
capital projects that need funding. One of the projects is the Bastanchury pipeline,
which has had several breaks recently. This item will be presented to the Board of
Directors at the April 22nd board meeting.