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2019-01-22 - Board of Directors Meeting Agenda Packet
AGENDA YORBA LINDA WATER DISTRICT BOARD OF DIRECTORS REGULAR MEETING Tuesday, January 22, 2019, 6:30 PM 1717 E Miraloma Ave, Placentia CA 92870 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL Brooke Jones, President Phil Hawkins, Vice President Andrew J. Hall, Director J. Wayne Miller, Director Al Nederhood, Director 4. ADDITIONS/DELETIONS TO THE AGENDA 5. INTRODUCTIONS AND PRESENTATIONS 5.1. Elected Official Liaison Reports 6. PUBLIC COMMENTS Any individual wishing to address the Board is requested to identify themselves and state the matter on which they wish to comment. If the matter is on the agenda, the Board will recognize the individual for their comment when the item is considered. No action will be taken on matters not listed on the agenda. Comments are limited to matters of public interest and matters within the jurisdiction of the Water District. Comments are limited to three minutes. 7. CONSENT CALENDAR All items listed on the consent calendar are considered to be routine matters, status reports, or documents covering previous Board instructions. The items listed on the consent calendar may be enacted by one motion. There will be no discussion on the items unless a member of the Board, staff, or public requests further consideration. 7.1. Minutes of the Board of Directors Regular Meeting Held January 8, 2019 Recommendation: That the Board of Directors approve the minutes as presented. 7.2. Payments of Bills, Refunds, and Wire Transfers Recommendation: That the Board of Directors ratify and authorize disbursements in the amount of $4,658,625.69. 8. DISCUSSION ITEMS This portion of the agenda is for matters that cannot reasonably be expected to be concluded by action of the Board of Directors at the meeting, such as technical presentations, drafts of proposed policies, or similar items for which staff is seeking the advice and counsel of the Board of Directors. Time permitting, it is generally in the District’s interest to discuss these more complex matters at one meeting and consider formal action at another meeting. This portion of the agenda may also include items for information only. 8.1. Laddering of the District's Investment Portfolio 8.2. Capital Improvement Plan Funding Policy (Pay-Go vs. Debt) 8.3. Budget to Actual Statements for Month Ending December 31, 2018 8.4. Cash and Investment Report for the Period Ending December 31, 2018 9. REPORTS, INFORMATION ITEMS, AND COMMENTS 9.1. Directors' Reports · Intergovernmental Meetings, Conferences, and Events 9.2. General Manager's Report 9.3. General Counsel's Report 9.4. Future Agenda Items and Staff Tasks 10. COMMITTEE REPORTS 10.1. Interagency Committee with MWDOC and OCWD (Jones/Hawkins) · Next meeting scheduled January 24, 2019 at 4:00 p.m. 10.2. Joint Agency Committee with City of Yorba Linda (Jones/Hawkins) · Minutes of the meeting held December 10, 2018 at 4:00 p.m. · Next meeting scheduled March 11, 2019 at 4:00 p.m. at YL City Hall. 10.3. Joint Agency Committee with City of Placentia (Jones/Hawkins) · Meeting scheduled January 22, 2019 at 8:30 a.m. at Placentia City Hall. 11. BOARD OF DIRECTORS ACTIVITY CALENDAR 11.1. Meetings from January 23 - March 31, 2019 12. ADJOURNMENT 12.1. The next Regular Meeting will be held Tuesday, February 12, 2019. Closed Session (if necessary) will begin at 5:30 p.m. and regular business at 6:30 p.m. Items Distributed to the Board Less Than 72 Hours Prior to the Meeting Pursuant to Government Code section 54957.5, non-exempt public records that relate to open session agenda items and are distributed to a majority of the Board less than seventy-two (72) hours prior to the meeting will be available for public inspection in the lobby of the District’s business office located at 1717 E. Miraloma Avenue, Placentia, CA 92870, during regular business hours. When practical, these public records will also be made available on the District’s internet website accessible at http://www.ylwd.com/. Accommodations for the Disabled Any person may make a request for a disability-related modification or accommodation needed for that person to be able to participate in the public meeting by telephoning the Executive Secretary at 714-701-3020, or writing to Yorba Linda Water District, P.O. Box 309, Yorba Linda, CA 92885-0309. Requests must specify the nature of the disability and the type of accommodation requested. A telephone number or other contact information should be included so the District staff may discuss appropriate arrangements. Persons requesting a disability-related accommodation should make the request with adequate time before the meeting for the District to provide the requested accommodation. ITEM NO. 7.1 AGENDA REPORT Meeting Date: January 22, 2019 Subject:Minutes of the Board of Directors Regular Meeting Held January 8, 2019 STAFF RECOMMENDATION: That the Board of Directors approve the minutes as presented. ATTACHMENTS: Name:Description:Type: 2019-01-08_-_Minutes_-_BOD.docx Minutes Minutes Minutes of the YLWD Board of Directors Regular Meeting Held January 8, 2019 at 6:30 p.m. 1 2019-XXX MINUTES OF THE YORBA LINDA WATER DISTRICT BOARD OF DIRECTORS REGULAR MEETING Tuesday, January 8, 2019, 6:30 p.m. 1717 E Miraloma Ave, Placentia CA 92870 1. CALL TO ORDER The meeting was called to order at 6:31 p.m. 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL DIRECTORS PRESENT STAFF PRESENT Brooke Jones, President Marc Marcantonio, General Manager Phil Hawkins, Vice President Brett Barbre, Assistant General Manager Andrew J. Hall John DeCriscio, Operations Manager J. Wayne Miller Gina Knight, HR/Risk and Safety Manager Al Nederhood Delia Lugo, Finance Manager Rosanne Weston, Engineering Manager Annie Alexander, Exec Asst/Board Secretary Mike Carreon, Facilities Maintenance Worker Kaden Young, Management Analyst ALSO PRESENT Andrew Gagen, General Counsel, Kidman Gagen Law LLP 4. ADDITIONS/DELETIONS TO THE AGENDA None. 5. INTRODUCTIONS AND PRESENTATIONS 5.1. Elected Official Liaison Reports Assistant General Manager Brett Barbre, in his capacity as Director for Municipal Water District of Orange County (MWDOC) and the Metropolitan Water District of Southern California (MET), reported on the recent activities of both agencies. Minutes of the YLWD Board of Directors Regular Meeting Held January 8, 2019 at 6:30 p.m. 2 2019-XXX 6. PUBLIC COMMENTS None. 7. CONSENT CALENDAR Director Hawkins made a motion, seconded by Director Hall, to approve the Consent Calendar. Motion carried 5-0-0-0 on a Roll Call vote. 7.1. Minutes of the Board of Directors Regular Meeting Held December 11, 2018 Recommendation: That the Board of Directors approve the minutes as presented. 7.2. Payments of Bills, Refunds, and Wire Transfers Recommendation: That the Board of Directors ratify and authorize disbursements in the amount of $2,439,823.16. 7.3. Ratifying Donation of Surplus Vehicles to Paradise Irrigation District (PID) Recommendation: That the Board of Directors adopt Resolution No. 2019-01 ratifying the declaration of certain property as surplus and the transfer of same to Paradise Irrigation District. 7.4. Notice of Completion for Pressure Regulating Stations (PRS) Rehabilitation Phase 2 Project Recommendation: That the Board of Directors authorize staff to file the Notice of Completion for construction of the PRS Rehabilitation Phase 2 Project, Job No. J2014-11. 8. ACTION CALENDAR 8.1. Committee, Agency and Intergovernmental Meeting Assignments Director Hall made a motion, seconded by Director Hawkins, to approve the proposed committee, agency and intergovernmental meeting assignments for the 2019 calendar year. Motion carried 5-0-0-0. 9. DISCUSSION ITEMS 9.1. Formation of Community Facilities Districts (CFD) for Connecting Customers with Septic Tanks to District’s Wastewater Collection System Minutes of the YLWD Board of Directors Regular Meeting Held January 8, 2019 at 6:30 p.m. 3 2019-XXX Staff presented information on the proposed formation of CFD’s. This included an overview of sample areas within the District’s boundaries, intricacies involved and direction needed from the Board. Discussion followed regarding next steps. John Koeller, resident, thanked staff for the time and effort dedicated to this matter and commented on the associated fees for transitioning from septic to the District’s wastewater collection system. 9.2. Status of Operations Activities Staff reviewed the history of Well No. 7 and outlined the required repairs. 10. REPORTS, INFORMATION ITEMS, AND COMMENTS 10.1. Directors' Reports Intergovernmental Meetings, Conferences, and Events The Directors noted their attendance at the listed meetings and events. 10.2. General Manager's Report General Manager Marc Marcantonio asked each of the managers to report on activities within their respective departments. He then reported on an interview he gave regarding the District’s donation of surplus vehicles to PID and his attendance at the Colorado River Water Users Association conference. 10.3. General Counsel’s Report None. 10.4. Future Agenda Items and Staff Tasks Staff noted that a presentation regarding laddering the District’s investments would be provided at the next Board meeting. 11. COMMITTEE REPORTS 11.1. Interagency Committee with MWDOC and OCWD Next meeting is scheduled January 24, 2019 at 4:00 p.m. Minutes of the YLWD Board of Directors Regular Meeting Held January 8, 2019 at 6:30 p.m. 4 2019-XXX 11.2. Joint Agency Committee with City of Yorba Linda Minutes of the meeting held December 10, 2018 at 4:00 p.m. will be provided when available. Next meeting is scheduled March 11, 2019 at 4:00 p.m. at YL City Hall. 11.3. Joint Agency Committee with City of Placentia Next meeting is scheduled January 22, 2019 at 8:30 a.m. at Placentia City Hall. 12. BOARD OF DIRECTORS ACTIVITY CALENDAR 12.1. Meetings from January 9 – March 31, 2019 The Board determined to revert the workshop meeting on January 22, 2019 at 5:30 p.m. to a regular meeting at 6:30 p.m. 13. ADJOURNMENT 13.1. The meeting was adjourned at 8:14 p.m. Annie Alexander Board Secretary ITEM NO. 7.2 AGENDA REPORT Meeting Date: January 22, 2019 Budgeted:Yes To:Board of Directors Cost Estimate:$4,658,625.69 Funding Source:All Funds From:Marc Marcantonio, General Manager Presented By:Delia Lugo, Finance Manager Dept:Finance Reviewed by Legal:N/A Prepared By:Richard Cabadas, Accounting Assistant I CEQA Compliance:N/A Subject:Payments of Bills, Refunds, and Wire Transfers SUMMARY: Section 31302 of the California Water Code says the District shall pay demands made against it when they have been approved by the Board of Directors. Pursuant to law, staff is hereby submitting the list of disbursements for Board of Directors’ approval. STAFF RECOMMENDATION: That the Board of Directors ratify and authorize disbursements in the amount of $4,658,625.69. DISCUSSION: The items on this disbursement list include: a check of $121,290.77 to ACWA/JPIA for February 2019 medical & dental premiums; a check of $3,593,496.06 to OCWD – Pump Tax Replenishment Assessment for July 2018 – December 2018; a check of $40,786.57 to ACWA/JPIA for 2018 Worker Compensation for October 2018 – December 2018; and a wire of $50,927.24 to MWDOC for water deliveries for November 2018. The balance of $235,484.97 is routine invoices. The Accounts Payable Check Register total is $4,041,985.61, Payroll No. 26 total is $331,133.74, Payroll No. 01 total is $285,506.34; where the total disbursements for this agenda report is $4,658,625.69. A summary of the disbursements is attached. PRIOR RELEVANT BOARD ACTION(S): The Board of Directors approves bills, refunds and wire transfers semi-monthly. ATTACHMENTS: Name:Description:Type: 19-CS_0122.pdf Cap Sheet Backup Material CkReg012219.pdf Check Register Backup Material 19_CC_0122.pdf Credit Card Summary Backup Material Summary of Disbursements January 22, 2019 CHECK NUMBERS & WIRES: 01/22/2019 Computer Checks 73518—73595 $ 3,991,058.37 ____________ $ 3,991,058.37 WIRES: W011519 MWDOC $ 50,927.24 ____________ $ 50,927.24 TOTAL OF CHECKS & WIRES $ 4,041,985.61 PAYROLL NO. 26: Direct Deposits $ 200,307.84 Third Party Checks 7093—7103 $ 26,563.78 Payroll Taxes $ 67,212.51 EFT – CalPERS Payroll #26 $ 37,049.61 $ 331,133.74 PAYROLL NO. 01: Direct Deposits $ 176,888.71 Third Party Checks 7104—7109 $ 20,767.49 Payroll Taxes $ 46,974.84 EFT – CalPERS Payroll #01 $ 40,875.30 $ 285,506.34 TOTAL OF PAYROLLS $616,640.08 ---------------------------------------------------------------------------------------------------------------------- DISBURSEMENT TOTAL: $4,658,625.69 ================================================================== APPROVED BY THE BOARD OF DIRECTORS MINUTE ORDER AT BOARD MEETING OF JANUARY 22, 2019 ==================================================================. Check No.Date Vendor Name Amount Description 73531 01/22/2019 ACWA/JPIA 121,290.77 MEDICAL & DENTAL PREMIUM - FEBRUARY 2019 73594 01/22/2019 ACWA/JPIA 40,786.57 2018 WORKER COMPENSATION - 10/01/18 - 12/31/18 73532 01/22/2019 Al Nederhood 72.81 MILEAGE & TRAVEL EXPENSE REIMBURSEMENT - DECEMBER 2018 73533 01/22/2019 America's Instant Signs 1,357.65 MAGNETIC DISTRICT LOGO SIGNS - DISTRICT VEHICLES 73526 01/22/2019 ANNETTE STEVENS 177.36 CUSTOMER REFUND 73534 01/22/2019 Aramark 686.49 UNIFORM SERVICE 73593 01/22/2019 ARC 20.00 PW DOC MANAGEMENT & PLANWELL DATA 73536 01/22/2019 AT & T - Calnet3 1,911.39 ATT CALNET 3 73535 01/22/2019 ATS Communications 705.00 PROFESSIONAL SERVICES - NOVEMBER 2018 73537 01/22/2019 Bee Busters, Inc 300.00 COLONY ABATEMENT - (2) LOCATIONS 73538 01/22/2019 Big Ben Inc.1,596.00 J14-11 - PRS REHAB PHASE2 PROGRESS PAYMENT #05 73595 01/22/2019 Big Ben Inc.34,597.11 J14-11 - PRS REHAB PHASE 2 - RETENTION RELEASE 73520 01/22/2019 BRIAN CLARKE 59.48 CUSTOMER REFUND 73539 01/22/2019 BrightView Tree Care Services Inc.1,824.70 LANDSCAPE SERVICE - JANUARY 2019 73540 01/22/2019 Brooke Jones 113.58 MILEAGE REIMBURSEMENT - DECEMBER 2018 73541 01/22/2019 CalCard US Bank 9,354.93 CREDIT CARD TRANSACTIONS - DECEMBER 2018 73523 01/22/2019 CASEY SULLIVAN 140.58 CUSTOMER REFUND 73527 01/22/2019 CHARLENE VO 116.09 CUSTOMER REFUND - REISSUE 73542 01/22/2019 Clinical Lab. Of San Bern.1,460.00 WATER QUALITY SAMPLES - LAB WORK 73543 01/22/2019 Coastal Ignition & Controls 2,098.75 STATIONARY ENGINE MAINTENANCE 73582 01/22/2019 County of Orange 125.09 LANDFILL FEES 73544 01/22/2019 Delta Wye Electric, Inc.440.00 T/S WELL 10 & VALLEY VIEW BATTERY REPLACEMENT 73530 01/22/2019 DHANDO RESIDENTIAL RENTAL FUND LP 353.81 CUSTOMER REFUND 73545 01/22/2019 Dion & Sons, Inc.5,751.10 STATIONARY ENGINE MAINTENANCE - MYSELLA OIL 73546 01/22/2019 Diversified Communications Services, Inc.3,104.55 INSTALLATION OF 800MHZ ANTENNA - DISTRICT EMERGENCY RADIO 73547 01/22/2019 Eisel Enterprises, Inc.4,259.36 METER BOX & LIDS 73548 01/22/2019 Elite Equipment Inc 373.50 EQUIPMENT - WACKER RAMMER REPAIR - #E13 73549 01/22/2019 Enthalpy Analytical, Inc.1,576.00 WATER QUALITY SAMPLE - LAB WORK 73550 01/22/2019 eSecurity Solutions, LLC 2,981.44 EMAIL SECURITY GATEWAY - 1 YEAR 73552 01/22/2019 EyeMed 1,368.86 EYE MED - JANUARY 2019 73551 01/22/2019 Factory Motor Parts 129.76 VEHICLE MAINTENANCE - UNIT #155 73553 01/22/2019 Fleet Services, Inc 1,718.18 VEHICLE MAINTENANCE - UNIT #197 73554 01/22/2019 Flex Advantage 243.00 FLEX ADVANTAGE - 30 PARTICIPANTS - DECEMBER 2018 73555 01/22/2019 Francisco J. Martinez 105.00 CERTIFICATE REIMBURSEMENT - SWRCB TREATMENT #5 73556 01/22/2019 Fullerton Paint & Flooring 387.13 CLEANING AND PAINT SUPPLIES 73557 01/22/2019 G.M. Sager Construction Co., Inc.24,000.00 ASPHALT PAVING - 26 LOCATIONS 73558 01/22/2019 Grainger 379.57 SAFETY EQUIPMENT - PRODUCTION REPAIR PARTS 73559 01/22/2019 Graybar Electric Co 31.29 SCADA SUPPLIES & MATERIALS 73560 01/22/2019 Haaker Equipment Co.2,782.63 TOOLS & EQUIPMENT 73529 01/22/2019 HARVEST REALTY DEVELOPMENT 395.14 CUSTOMER REFUND 73561 01/22/2019 Hydrex Pest Control 175.00 PEST CONTROL 73562 01/22/2019 Infosend Inc.18,308.80 BILLING & POSTAGE - CUSTOMER BILLING 73563 01/22/2019 Jackson's Auto Supply - Napa 227.61 SHOP SUPPLIES & VEHICLE MAINTENANCE 73564 01/22/2019 Jacqueline Segura 11.61 MILEAGE REIMBURSEMENT - DECEMBER 2018 73565 01/22/2019 Jeff Jenkins Service Technician 3,536.89 CL2 SYSTEM SERVICE 73566 01/22/2019 Jeremy Smith 21.00 REIMBURSEMENT - MEETING SUPPLIES 73567 01/22/2019 John R Brundahl III 290.00 EDUCATION REIMBURSEMENT 73528 01/22/2019 JUSTIN RAMIREZ 162.08 CUSTOMER REFUND 73524 01/22/2019 KEVIN BRADY 102.88 CUSTOMER REFUND 73568 01/22/2019 Kidman Gagen Law 15,938.63 LEGAL SERVICES 73569 01/22/2019 Konica Minolta Business 2,196.30 COPIER USAGE CHARGE - C258 & C558 73570 01/22/2019 Konica Minolta Business 854.48 COPIER LEASE - C258 & C558 73571 01/22/2019 Liebert Cassidy Whitmore 4,434.91 LEGAL SERVICES - NOVEMBER 2018 73573 01/22/2019 Managed Health Network 177.75 EAP - JANUARY 2019 73574 01/22/2019 Marc Marcantonio 47.47 MILEAGE REIMBURSEMENT - DECEMBER 2019 73575 01/22/2019 Mc Fadden-Dale Hardware 617.27 HARDWARE SUPPLIES 73521 01/22/2019 MIP BROS.. INC.417.33 CUSTOMER REFUND W011519 01/15/2019 Municipal Water District 50,927.24 WATER DELIVERIES - NOVEMBER 2018 73519 01/22/2019 MYRIAM TADROS 98.03 CUSTOMER REFUND 73576 01/22/2019 NatPay Online Business Solutions 26.18 DOCULIVERY - DECEMBER 2018 73577 01/22/2019 Nicholas A. Hollon 2,248.04 EDUCATION REIMBURSEMENT - FALL 2018 73578 01/22/2019 Nickey Kard Lock Inc 3,017.59 FUEL - 12/16/18-12/31/18 73579 01/22/2019 Office Solutions 3,595.50 OFFICE SUPPLIES & TONER 73580 01/22/2019 Orange County - Fire Authority 156.00 AF32R FLAMMABLE COMBUSTION - PERMIT 73581 01/22/2019 Orange County Water District 3,593,496.06 REPLENISH ASSESMENT - JULY - DECEMBER 2018 Yorba Linda Water District Check Register For Checks Dated: 01/09/2019 thru 01/22/2019 73585 01/22/2019 P.T.I. Sand & Gravel, Inc.356.66 ROAD MATERIAL 73583 01/22/2019 Pacific Hydrotech Corporation 38,091.20 J10-11B - FAIRMONT PUMP STATION UPGRADE - PROGRESS PAYMENT #257358401/22/2019 Pacific Western Bank 2,004.80 J10-11B - FAIRMONT PUMP STATION UPGRADE - RETENTION #25 73518 01/22/2019 PATRICIA GARDNER 240.33 CUSTOMER REFUND 73586 01/22/2019 R & S Overhead Doors of So-Cal, Inc 6,441.00 MAINTENANCE - OVERHEAD DOOR 73522 01/22/2019 REBECCA A DIX 184.55 CUSTOMER REFUND 73587 01/22/2019 Solarwinds Inc.4,627.50 LOG MANAGER & SERVE U GATEWAY 73588 01/22/2019 Stater Bros. Markets 32.63 MEETING SUPPLIES 73572 01/22/2019 The Lighthouse Inc.509.11 CAMERA MONITOR & MOUNT 73589 01/22/2019 Time Warner Cable 655.00 SPECTRUM BUSINESS INTERNET - VEGAS 73590 01/22/2019 United Water Works, Inc.16,628.02 OPERATIONS WORK MATERIAL 73591 01/22/2019 Walters Wholesale Electric Co.910.49 ELECTRICAL SUPPLIES 73592 01/22/2019 WIN-911 595.00 WIN911 ANNUAL SOFTWARE MAINTENANCE 73525 01/22/2019 YORBA LINDA 9, LLC 450.00 CUSTOMER REFUND 4,041,985.61 Vendor Name Amount Description Graybar Electric Co 181.72 Position switch & door stop Amazon.com 424.02 Veh. maintenance - Unit #187 Sunstate Equipment Rental 1,904.47 Rental of boom truck - SCADA Fairmont Work Smart & Final 86.92 Breakroom supplies North American Recycling and Crushing, LLC 200.00 Disposal of road material GSE 76 43.08 Propane tank refill AWWA - CA-NV Section 195.00 AWWA training class - Martinez, J Best Value Tire & Wheel 26.87 Vehicle maintenance - Unit #186 eReplacementParts.com 13.48 Equipment repair parts Costco 489.61 Meeting & breakroom supplies Home Depot 601.85 Facility maintenance - repair Home Depot 11.94 Toggle bolt for facilities Fairway Ford Sales, Inc. 23.77 Vehicle maintenance - Unit #191 United Water Works, Inc. 4.58 8" Rubber gasket Mc Fadden-Dale Hardware 32.97 Hydrant adapter - sewer truck Home Depot 34.11 Supplies for facilities maintenance Home Depot 33.36 Hardware supplies Best Value Tire & Wheel 107.47 Vehicle maintenance JH Shower Pans 250.00 Supplies - Facilities repair QC Supply 47.92 Hose hanger - Fairmont BPS Hedrick Fire Protection 1,100.00 Fire sprinkler & alarm test YO Fire 21.55 2" comp flange - repair parts Mc Master-Carr Supply Co. 221.50 Production parts for Fairmont Home Depot 304.94 Supplies for facilities repair Minuteman Press 112.68 Business cards - Hulbert & Talbert Home Depot 9.57 Hardware supplies Harbor Freight Tools 30.15 Oscillating multi tool Grainger 35.34 Hardware supplies Home Depot 185.84 Supplies for building repair United Auto Transporter 1,500.00 (3) Vehicle transportation - Paradise Irrigation District Costco 46.50 Breakroom supplies Home Depot 378.74 Tools and supplies - Facility Fairway Ford Sales, Inc. 444.98 Vehicle maintenance - Unit #180 JH Shower Pans 250.00 Supplies - Facilities repair 9,354.93 22-Jan-19 Cal Card Credit Card U S Bank ITEM NO. 8.3 AGENDA REPORT Meeting Date: January 22, 2019 To:Board of Directors From:Marc Marcantonio, General Manager Presented By:Delia Lugo, Finance Manager Dept:Finance Prepared By:Saira Hernandez, Accountant Subject:Budget to Actual Statements for Month Ending December 31, 2018 DISCUSSION: For the month ending December 31, 2018, staff is presenting Budget to Actual Reports for the District as a whole, as well as the individual water and sewer funds. Total Cumulative Volumetric Water Revenue, as reported through the month ending December 31, 2018, reflects an average decrease of 0.15% as compared to the prior year for the same reporting period. Landscape classified customer connections have the largest increase in total consumption usage of 4.91% as compared to reported results from the prior year. The reported customer consumption for the month of December 2018 (390,646 units) reflects a decrease of 35% when compared to that reported for the month of December 2017 (600,008 units). This is predominantly due to cooler, wetter weather in December 2018. Total Variable Costs results, as reported through the month ending December 31, 2018, reflect a 1.27% decrease when compared to prior year for the same reporting period. The decrease in costs is reflective of an overall decrease in cumulative water demand, which as reported, is 3.32% below that of prior year for the same reporting period. ATTACHMENTS: Name:Description:Type: Financial_Reports_Dec_18.pdf Financial Reports Backup Material FY19 Annual Budget YTD Actuals thru December 2018 YTD % of Budget Water Revenue (Residential)16,592,437$ 8,949,207$ 53.94% Water Revenue (Commercial & Fire Det.)1,964,205$ 999,632$ 50.89% Water Revenue (Landscape/Irrigation)3,863,805$ 2,485,894$ 64.34% Service Charges 10,116,528$ 5,014,339$ 49.57% Other Operating Revenue 827,887$ 563,782$ 68.10% Total Operating Revenue 33,364,861$ 18,012,854$ 53.99% Revenue (Non-Operating): Interest 310,000$ 274,682$ 88.61% Property Taxes 1,850,000$ 947,340$ 51.21% Other Non-Operating Revenue 605,346$ 332,467$ 54.92% Total Non-Operating Revenue 2,765,346$ 1,554,489$ 56.21% Total Revenue 36,130,207$ 19,567,343$ 54.16% Expenses (Operating): Variable Water Costs (G.W., Import & Power) Water-Related Costs 12,247,280$ 6,935,350$ 56.63% Fixed Costs 1,188,085$ 372,498$ 31.35% Power-Related Costs 1,358,012$ 914,990$ 67.38% Variable Water Costs Related Expenses Total 14,793,377$ 8,222,838$ 55.58% Salary Related Expenses 9,931,772$ 4,492,813$ 45.24% Reduction for Capital Project Labor (279,000)$ (160,276)$ 57.45% Salary Related Expenses Total 9,652,772$ 4,332,537$ 44.88% Supplies & Services Communications 159,120$ 84,397$ 53.04% Contractual Services 475,966$ 171,428$ 36.02% Data Processing 265,129$ 161,661$ 60.97% Dues & Memberships 82,077$ 67,795$ 82.60% Fees & Permits 264,546$ 92,375$ 34.92% Insurance 281,967$ 136,293$ 48.34% Materials 658,714$ 423,632$ 64.31% District Activities, Emp Recognition 43,013$ 21,317$ 49.56% Maintenance 432,971$ 177,620$ 41.02% Non-Capital Equipment 115,294$ 71,772$ 62.25% Office Expense 40,343$ 16,838$ 41.74% Professional Services 518,804$ 189,160$ 36.46% Training 65,188$ 16,842$ 25.84% Travel & Conferences 125,279$ 37,147$ 29.65% Uncollectible Accounts 2,790$ 1,954$ 70.05% Utilities 169,911$ 84,998$ 50.03% Vehicle Expenses 316,262$ 137,729$ 43.55% Supplies & Services Sub-Total 4,087,123$ 1,892,958$ 46.32% Total Operating Expenses 28,533,272$ 14,448,333$ 50.64% Expenses (Non-Operating) Other Expense 8,600$ (7,742)$ -90.02% Total Non-Operating Expenses 8,600$ (7,742)$ -90.02% Total Expenses 28,541,872$ 14,440,591$ 50.59% Net Revenues 7,588,335$ 5,126,752$ 67.56% Less: Debt Service (Principal & Interest)2,738,258$ 1,950,528$ 71.23% Less: Committed Capital Expenditures (PayGo)4,484,500$ 1,891,072$ 42.17% Transfer to/(from) Reserves 365,577$ 1,285,152$ 351.54% Net -$ -$ Yorba Linda Water District Water Enterprise FY19 ProForma - Use of Funds December 2018 1 Yorba Linda Water District Summary Financial Report Water & Sewer Funds For Period Ending December 31, 2018 Annual YTD Dec YTD YTD Actual Prior Year Prior Year YTD Actual YTD Actual Budget Budget Actual Actual (Under) Over Dec Actual Actual (thru vs vs FY19 FY19 FY19 FY19 YTD Budget FY18 Dec 2017)PY Actual $PY Actual % Revenue (Operating): Water Revenue (Residential)$16,592,437 $9,134,137 $1,051,914 8,949,207$ (184,930)$ $1,209,970 $8,990,345 (41,138)-0.46% Water Revenue (Commercial & Fire Det.)1,964,205 1,081,295 121,407 999,632 (81,663)146,722 1,051,085 (51,453)-4.90% Water Revenue (Landscape/Irrigation)3,863,805 2,127,025 220,065 2,485,894 358,869 276,558 2,369,566 116,329 4.91% Water Revenue (Service Charge)10,116,528 5,058,264 837,458 5,014,339 (43,925)833,154 4,998,570 15,768 0.32% Sewer Charge Revenue 2,229,246 1,114,623 184,367 1,118,586 3,963 171,023 1,030,471 88,115 8.55% Locke Ranch Assessments 273,250 157,542 116,310 166,786 9,244 86,566 128,382 38,404 0.00% Other Operating Revenue 894,617 447,309 64,986 602,082 154,774 50,075 428,045 174,038 40.66% Total Operating Revenue:35,934,087 19,120,194 2,596,507 19,336,526 216,332 2,774,068 18,996,464 340,062 1.79% Revenue (Non-Operating): Interest 358,000 179,000 45,445 322,483 143,483 33,181 211,781 110,702 52.27% Property Tax 1,850,000 986,753 598,376 947,340 (39,413) 583,879 935,723 11,617 0.00% Other Non-Operating Revenue 639,846 319,923 145,713 352,874 32,951 19,701 197,763 155,112 78.43% Total Non-Operating Revenue:2,847,846 1,485,676 789,534 1,622,697 137,021 636,761 1,345,267 277,431 20.62% Total Revenue 38,781,933 20,605,870 3,386,041 20,959,223 353,354 3,410,829 20,341,731 617,493 3.04% Expenses (Operating): Variable Water Costs (G.W., Import & Power)14,793,377 8,294,923 1,020,619 8,222,838 (72,085)1,520,066 8,328,545 (105,708)-1.27% Salary Related Expenses 10,784,493 5,172,363 763,033 4,756,456 (415,908)973,528 4,643,771 112,684 2.43% Supplies & Services 4,571,268 2,133,559 304,853 2,072,339 (61,220)348,379 2,048,746 23,594 1.15% Total Operating Expenses 30,149,138 15,600,845 2,088,505 15,051,633 (549,213)2,841,973 15,021,062 30,570 0.20% Expenses (Non-Operating): Interest on Long Term Debt 1,325,785 749,145 111,601 681,008 (68,137) 115,401 679,746 1,262 0.19% Other Expense 14,200 7,100 458 619 (6,481)(24,108) (11,566)12,185 -105.35% Total Non-Operating Expenses:1,339,985 756,245 112,059 681,627 (74,618) 91,293 668,180 13,447 2.01% Total Expenses 31,489,123 16,357,090 2,200,564 15,733,260 (623,831)2,933,266 15,689,242 44,017 0.28% Net Position Before Capital Contributions 7,292,810 4,248,780 1,185,477 5,225,963 977,184 477,563 4,652,489 573,475 12.33% Special Item - - - (1,098,574) (2,204,383) 2,204,383 -100.00% Capital Contributions (Non-Cash - - 3,294 3,294 440,855 2,230,763 (2,227,469) 0.00% Transaction GASB 34 Compliant)- - 0 Net Position Before Depreciation 7,292,810 4,248,780 1,185,477 5,229,257 980,478 (180,156)4,678,868 550,389 11.76% Depreciation & Amortization 7,726,142 3,830,571 614,750 3,683,222 (147,349) 618,637 3,711,808 (28,586) -0.77% Total Net Position ($433,332)$418,209 570,727 1,546,035 $1,127,827 ($798,793)$967,060 $578,975 59.87% (28,260)(202,694) (202,694) (31,521) (138,364) (64,330) 46.49% (With December 31, 2017 for comparison purposes) 2 Annual YTD Dec YTD YTD Actual Prior Year Prior YTD YTD Actual YTD - CUR Budget Budget Actual Actual (Under)Over Dec Actual Actual (thru vs vs FY19 FY19 FY19 FY19 YTD Budget FY18 Dec 2017) PY Actual $PY Actual % Revenue (Operating): Water Revenue (Residential)$16,592,437 $9,134,137 $1,051,914 $8,949,207 (184,930)$ $1,209,970 $8,990,345 (41,138)-0.46% Water Revenue (Commercial & Fire Det.)1,964,205 1,081,295 121,407 999,632 (81,663) 146,722 1,051,085 (51,453)-4.90% Water Revenue (Landscape/Irrigation)3,863,805 2,127,025 220,065 2,485,894 358,870 276,558 2,369,566 116,329 4.91% Water Revenue (Service Charge)10,116,528 5,058,264 837,458 5,014,339 (43,925) 833,154 4,998,570 15,768 0.32% Other Operating Revenue 827,887 413,943 63,101 563,782 149,839 45,700 399,992 163,790 40.95% Total Operating Revenue:33,364,861 17,814,663 2,293,945 18,012,854 198,190 2,512,104 17,809,558 203,295 1.14% Revenue (Non-Operating): Interest 310,000 155,000 41,121 274,682 119,682 30,408 189,675 85,007 44.82% Property Tax 1,850,000 986,753 598,376 947,340 (39,413) 583,879 935,723 11,618 1.24% Other Non-Operating Revenue 605,346 302,673 135,278 332,467 29,794 21,868 205,658 126,810 61.66% Total Non-Operating Revenue:2,765,346 1,444,426 774,775 1,554,489 110,063.4 636,155 1,331,056 223,434 16.79% Total Revenue 36,130,207 19,259,089 3,068,720 19,567,343 308,254 3,148,259 19,140,614 426,729 2.23% Expenses (Operating): Variable Water Costs (G.W., Import & Power)14,793,377 8,294,923 1,020,619 8,222,838 (72,085) 1,520,066 8,328,545 (105,708) -1.27% Salary Related Expenses 9,652,772 4,621,895 695,531 4,332,537 (289,357) 878,844 4,135,480 197,057 4.77% Supplies & Services: Communications 159,120 87,060 9,333 84,397 (2,663) 7,401 68,074 16,323 23.98% Contractual Services 475,966 177,983 20,817 171,428 (6,555) 44,060 201,837 (30,409) -15.07% Data Processing 265,129 161,729 50,072 161,661 (68) 40,224 102,409 59,252 57.86% Dues & Memberships 82,077 68,124 4,356 67,795 (329) 894 66,799 995 1.49% Fees & Permits 264,546 100,773 10,000 92,375 (8,398) 61,782 127,292 (34,917) -27.43% Board Election 69,750 0 0 - - - - Insurance 281,967 140,984 23,322 136,293 (4,691) 21,516 122,775 13,517 11.01% Materials 658,714 391,857 40,453 423,632 31,775 51,379 360,103 63,529 17.64% District Activities, Emp Recognition 43,013 21,507 6,590 21,317 (189) 890 9,347 11,971 128.07% Maintenance 432,971 182,486 44,951 177,620 (4,866) 3,198 188,544 (10,924) -5.79% Non-Capital Equipment 115,294 67,647 6,506 71,772 4,125 13,100 55,402 16,370 29.55% Office Expense 40,343 20,172 3,877 16,838 (3,334) 3,561 17,189 (351) -2.04% Professional Services 518,804 205,402 19,496 189,160 (16,242) 35,571 252,294 (63,134) -25.02% Training 65,188 26,594 1,703 16,842 (9,752) 1,747 10,677 6,165 57.74% Travel & Conferences 125,279 45,139 7,247 37,147 (7,992) 5,155 26,638 10,509 39.45% Uncollectible Accounts 2,790 1,395 1,515 1,954 559 213 409 1,545 377.94% Utilities 169,911 84,956 13,167 84,998 43 9,476 90,309 (5,311) -5.88% Vehicle Equipment 316,262 145,181 22,854 137,729 (7,452) 18,852 130,946 6,784 5.18% Supplies & Services Sub-Total 4,087,123 1,928,986 286,259 1,892,958 (36,029) 319,019 1,831,044 61,914 3.38% Total Operating Expenses 28,533,272 14,845,804 2,002,409 14,448,333 (397,471) 2,717,929 14,295,070 153,263 1.07% Expenses (Non-Operating): Interest on Long Term Debt 1,325,785 749,145 111,601 681,008 (68,137) 115,401 679,746 1,262 0.19% Other Expense 8,600 4,300 458 (7,742)(12,042) (25,313) (2,091) (5,651) 270.21% Total Non-Operating Expenses:1,334,385 753,445 112,059 673,266 (80,179) 90,088 677,655 (4,389) -0.65% Total Expenses 29,867,657 15,599,248 2,114,468 15,121,599 (477,650) 2,808,017 14,972,725 148,875 0.99% Net Position Before Capital Contributions 6,262,550 3,659,841 954,252 4,445,744 785,904 340,242 4,167,889 277,855 6.67% Special Item - - - - (1,098,574) (2,204,384) 2,204,384 -100.00% Capital Contributions (Non-Cash Transaction -- - - - 270,445 1,238,720 (1,238,720) GASB 34 Compliant) Net Position Before Depreciation 6,262,550 3,659,841 954,252 4,445,744 785,904 (487,887)3,202,225 1,243,519 38.83% Depreciation & Amortization 6,329,146 3,132,073 500,254 2,996,249 (135,824) 505,192 3,031,500 (35,251) -1.16% Total Net Position (66,596) 527,768 453,998 1,449,494 921,727 (993,079) 170,725 1,278,770 749.02% Capital - Direct Labor (22,037) (160,276) (160,276) (29,190) (127,824) (32,452) 25.39% Yorba Linda Water District Water Fund For Period Ending December 31, 2018 (With December 31, 2017 for comparison purposes) 3 Annual YTD Dec YTD YTD Actual Prior Year Prior Year YTD Actual YTD - CUR Budget Budget Actual Actual (Under)Over Dec Actual Actual (thru vs vs FY19 FY19 FY19 FY19 YTD Budget FY18 Dec 2017)PY Actual $PY Actual % Revenue (Operating): Sewer Charge Revenue $2,229,246 $1,114,623 184,367$ 1,118,586$ $3,963 $171,023 $1,030,471 $88,116 8.55% Locke Ranch Assessments 273,250 157,542 116,310 166,786 9,244 86,566 128,382 38,404 0.00% Other Operating Revenue 66,730 33,365 1,885 38,300 4,935 4,375 28,053 10,247 36.53% Total Operating Revenue:2,569,226 1,305,530 302,562 1,323,672$ 18,142 261,964 1,186,906 136,767 11.52% Revenue (Non-Operating): Interest 48,000 24,000 4,323 47,801 23,801 2,773 22,106 25,695 116.24% Other Non-Operating Revenue 34,500 17,250 10,435 20,407 3,157 (2,167)(7,895) 28,302 -358.48% Total Non-Operating Revenue:82,500 41,250 14,758 68,208 26,958 606 14,211 53,997 379.98% Total Revenue 2,651,726 1,346,780 317,321 1,391,880 45,100 262,570 1,201,117 190,763 15.88% Expenses (Operating): Salary Related Expenses 1,131,721 550,469 67,502 423,919 (126,549)94,684 508,291 (84,371)-16.60% Supplies & Services: Communications 11,977 5,988 703 4,239 (1,749)557 3,364 875 26.01% Contractual Services 29,766 14,883 1,516 10,776 (4,107)3,316 15,192 (4,417)-29.07% Data Processing 17,322 8,661 1,562 11,031 2,371 3,028 7,708 3,323 43.11% Dues & Memberships 6,153 3,077 328 5,103 2,027 67 5,028 75 1.49% Fees & Permits 15,907 7,954 666 6,254 (1,700)6,450 9,727 (3,474)-35.71% Board Election 5,250 2,625 - (2,625) - - 0 Insurance 21,223 10,612 1,755 10,189 (423)1,620 9,241 947 10.25% Materials 28,622 26,811 369 25,681 (1,130)377 21,267 4,414 20.76% District Activities, Emp Recognition 3,238 1,619 496 1,536 (83)67 700 837 119.61% Maintenance 171,630 45,815 563 43,528 (2,287)1,557 59,645 (16,117)-27.02% Non-Capital Equipment 36,157 18,079 3,089 14,054 (4,025)967 11,289 2,766 24.50% Office Expense 2,957 1,479 291 1,099 (379)266 1,279 (179)-14.02% Professional Services 33,996 16,998 1,130 16,241 (758)2,419 11,901 4,340 36.47% Training 13,052 6,526 587 2,214 (4,312)1,007 1,957 257 13.10% Travel & Conferences 14,061 7,030 1,649 3,835 (3,195)388 2,381 1,454 61.07% Uncollectible Accounts 210 105 181 167 62 22 83 84 100.96% Utilities 13,489 6,745 991 6,711 (33)766 7,129 (418)-5.86% Vehicle Equipment 59,138 19,569 2,716 16,722 (2,847)6,486 49,811 (33,089)-66.43% Supplies & Services Sub-Total 484,145 204,573 18,594 179,381 (25,192) 29,360 217,702 (38,322) -17.60% Total Operating Expenses 1,615,866 755,041 86,096 603,300 (151,741) 124,044 725,993 (122,693) -16.90% Expenses (Non-Operating): Interest Expense - - - - - - - - Other Expense 5,600 2,800 8,361 5,561 1,205 (9,474) 17,835 -188.25% Total Non-Operating Expenses:5,600 2,800 - 8,361 5,561 1,205 (9,474) 17,835 -188.25% Total Expenses 1,621,466 757,841 86,096 611,661 (146,181) 125,249 716,519 (104,859) -14.63% Net Position Before Capital Contributions 1,030,259 588,939 231,225 780,219 191,281 137,321 484,598 295,622 61.00% Capital Contributions (Non-Cash - - 3,294 3,294 170,410 992,043 (988,750) -99.67% Transaction GASB 34 Compliant) Net Position Before Depreciation 1,030,259 588,939 231,225 783,513 194,574 307,731 1,476,641 (693,128) -46.94% Depreciation & Amortization 1,396,996 698,498 114,496 686,972 (11,525)113,445 680,308 6,664 0.98% Total Net Position (366,736) (109,559) 116,729 96,541 206,100 194,286 796,333 (699,792) -87.88% Capital - Direct Labor (6,224) (42,418)(42,418) (2,331) (10,540)(31,878)302.45% Yorba Linda Water District Sewer Fund For Period Ending December 31, 2018 (With December 31, 2017 for comparison purposes) 4 $2,141,663 $2,477,773 $4,241,217 $5,138,936 $4,998,570 5,014,339$1,094,073 $1,068,070 $932,629 $1,001,430 $1,051,085 999,632 $2,691,506 $2,707,567 $1,583,285 $2,182,678 $2,369,566 2,485,894 $9,757,011 $9,514,131 $6,842,319 $7,411,082 $8,761,118 $8,949,207 $15,684,253 $15,767,541 $13,599,450 $15,734,126 $17,180,339 1.56%increase compared to FY18 $17,449,072 $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 $20,000,000 FY14 FY15 FY16 FY17 FY18 FY19 Water Revenue Comparison by Fiscal Year Water Revenue (Service Charge) Water Revenue (Commercial & Fire Det.) Water Revenue (Landscape/Irrigation) Water Revenue (Residential)Total 5 - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 FY17 FY18 FY19 FY17 FY18 FY19 FY17 FY18 FY19 FY17 FY18 FY19 FY17 FY18 FY19 FY17 FY18 FY19 JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER 58,238 56,992 61,680 63,184 80,884 74,233 66,195 54,463 56,459 49,885 59,881 58,311 63,789 58,343 53,077 41,197 49,277 29,976 136,162 131,653 154,349 154,590 207,053 220,117 178,617 142,649 169,608 123,019 138,015 152,885 143,525 147,368 137,653 62,133 100,928 59,372 CONSUMPTION BY UNITS CCF Residential Commercial Landscape 6 1,310,853 1,388,016 1,284,700 1,135,165 981,755 1,069,354 1,460,113 1,505,340 1,358,893 1,340,186 1,143,948 1,518,953 1,671,801 1,729,514 1,512,043 1,307,477 981,384 1,020,619 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 2,000,000 Jul Aug Sept Oct Nov Dec Variable Costs Analysis FY17 Var Costs FY18 Var Costs FY19 Var Costs 7 8 Rainfall and ETo 50.00 2.50 45.00 40.00 2.00 35.00 i Q 30.00 1.50 ► E 25.00 ► ► c 0 20.00 1.00 15.00 10.00 ► 0.50 5.00 0.00 - - - - - - - - - - - - 0.00 a, v W v W v W v W v W v v v v v v v v v v a v v v v v a, v a, v 0 D 9 D 0 D 0 D 9 D D 0 9 9 9 9 9 0 9 D D 0 C? D C? 9 C? 9 D 9 D r-I N M 4 Ln 6 I, ob Ql Or-I N M 4 Ln l0 r� W 01 O r-I N M Ln l0 r� W r_101 O r r-I ri r-I ri r-I ri r-I r-I r-I ri N N N N N N N N N N M M Groundwater OC-36 � Import Water —Consumption —ETo -----• Rainfall Volume, AF O u, o � o � o � o � o 0 0 0 0 0 0 0 0 0 0 0 O O O O O O O O O O O 1-Dec 2-Dec I 3-Dec 4-Dec 0 5-Dec 6-Dec r7-Dec M 8-Dec I 9-Dec O 10-Dec w 11-Dec rn 12-Dec I13-Dec 14-Dec (DD _0 15-Dec 3 o 16-Dec N °+ 17-Dec r�-r m 18-Dec fD I19-Dec 20-Dec 21-Dec c 3 22-Dec 0 23-Dec 24-Dec 25-Dec 26-Dec rD 3 27-Dec `�° 28-Dec M v r+ 29-Dec M 30-Dec 31-Dec O _�I 00 O N Ql 00 O N al O N O O O O O O O O 90 O O O Temperature, degrees Fahrenheit CO 10 Water Revenues & Expenses - December $25,000,000 (excludes Depreciation, Special Items, and Contributed Capital ) $19,567,343 $20,000,0002.23% $19,140,614 $17,464,228 $17,918,355 $16,372,693 $15,000,000 -----�� $14,972,725 $15,121,599 $13,934,563 $14,099,194 0.99% $12,807,895 $10,000,000 $5,000,000 $- Dec.2014 Dec.2015 Dec.2016 Dec.2017 Dec.2018 Total Revenue f Total Expenses 11 Sewer Revenues & Expenses - December $1,600,000 (excludes Depreciation, Special Items, and Contributed Capital) $1,391,880 15.88% $1,400,000 $1,200,000 $1,178,223 $1,201,117 $1,000,000 $943,047 $963,930 $800,000 $600,000 $716,519 $644,490 4111 $618,522 $658,818 $611,661 -14.63% $400,000 $200,000 Dec. 2014 Dec. 2015 Dec. 2016 Dec. 2017 Dec. 2018 Total Revenue Total Expenses ITEM NO. 8.4 AGENDA REPORT Meeting Date: January 22, 2019 To:Board of Directors From:Marc Marcantonio, General Manager Presented By:Delia Lugo, Finance Manager Dept:Information Technology Prepared By:Saira Hernandez, Accountant Subject:Cash and Investment Report for the Period Ending December 31, 2018 SUMMARY: Government Code Section 530607, et. seq., requires the person delegated to invest funds to make monthly report of investments to the legislative body. DISCUSSION: The Cash & Investment Portfolio Report presents the market value and percent yield for all District investments by institution. The Cash & Investment Summary Report includes budget and actual interest and average term portfolio information as well as market value broken out by reserve categories. The Fair Value Measurement Report categorizes investments with the fair value hierarchy established by generally accepted accounting principles. The Unrestricted Reserves and Days in Cash Graph presents Water Unrestricted Reserve Balances and Days in Cash at a particular point in time for the last four years. The average portfolio yield for the month ending December 31, 2018 is 2.42%. The overall increase in the investment balance from the previous month is approximately $1,735,183. Larger balance changes include an increases in the Water Operating Fund of $1,752,326 due to receipt of scheduled property tax apportionments received from the County of Orange Tax Assessors Office and a decrease in the Sewer Capital Project Reserve Fund of $245,094 to cover the costs to decommission the Lakeview Sewer Lift Station. STRATEGIC PLAN: G2 4C - Manage cash flow to maximize investment income. ATTACHMENTS: Name:Description:Type: Cash_Invest_Reports_Dec_18.pdf Cash/Investment Reports Backup Material Market %Date of Percent Value Par of Total Institution Maturity Yield Checking Account: 664,225$ 664,225$ Wells Fargo Bank 664,225$ 664,225$ 1.75%Total 0.00% Money Market Accounts: 403$ 403$ US Bank (Revenue Bonds)2.00% 3,255,836 3,256,124 US Bank (Money Market)2.20% 245,957 247,599 Public Agency Retirement Svcs. (PARS) 203,338 203,338 Bank of the West 0.59% 3,705,534$ 3,707,464$ 9.76%Total 2.11% Certificates of Deposits: 198,904$ 200,000$ World's Foremost Bk Sydney 05/28/19 1.31% 246,931 248,000 Capital One Bk USA Natl Assn 05/13/19 1.21% 239,829 249,000 Comenity Cap Bk Salt Lake City 06/30/21 1.71% 241,421 248,000 EnerBank USA Salt Lake City 08/26/20 1.34% 245,649 248,000 EverBank Jacksonville Fla CTF 08/30/19 1.16% 177,404 180,000 HSBC BK USA, NA MC Clean CTF 08/31/21 2.65% 237,800 248,000 Wells Fargo Bank NA Sioux Falls D 08/31/21 1.67% 238,913 247,000 PrivateBank & Tr Chicago Ill CTF 03/30/22 2.27% 242,720 249,000 JP Morgan Chase Bk NA Columbus 03/31/22 2.51% 2,069,572$ 2,117,000$ 5.45%Total 1.74% Pooled Investment Accounts: 12,426,415$ 12,426,415$ Local Agency Investment Fund 2.29% 1,346,514 1,349,367 CalTRUST Short Term 2.54% 17,756,231 17,865,808 CalTRUST Medium Term 2.73% 31,529,160$ 31,641,590$ 83.04%2.55% 37,968,490$ 38,130,278$ 100%Total Investments 2.42% Per Government Code requirements, the Investment Report is in compliance with the Yorba Linda Water District's Investment Policy, and there are adequate funds available to meet budgeted and actual expenditures for the next six months. 12/31/18 Yorba Linda Water District Cash & Investment Portfolio Report December 31, 2018 ________________________________ Saira Hernandez, Accountant 1 Below is a chart summarizing the yields as well as terms and maturities for the month of December 2018: Average # of Month Portfolio Days to of 2018 Yield Maturity December 2.42%61 Below are charts comparing operating fund interest for current and prior fiscal years. Actual Interest 12/31/2017 12/31/2018 Monthly - December 36,612$ 45,445$ Year-to-Date 215,211$ 322,483$ Budget 2017/2018 2018/2019 Interest Budget, December YTD 155,000$ 179,000$ Interest Budget, Annual 310,000$ 358,000$ Interest earned on investments is recorded in the fund that owns the investment. The distribution of investments in the portfolio both in dollars and as a percentage of the total portfolio by funds is as follows: The table below displays the District's Cash and Investment balance of $37.9 million which is allocated between the established reserve funds, Wells Fargo Checking Account, and the restricted funds held at U.S. Bank for the construction of the Fairmont Booster Pump Station. The number of Days in Cash are 398 for the Un-Restricted Water Reserve balance and 1,246 for the Un-Restricted Sewer Reserve balances, as of December 31, 2018. FY19 Reserve Cash and Requirements Investments November 2018 % Alloc December 2018 % Alloc "Target Available for Fund Description Balance 11/30/2018 Balance 12/31/2018 Levels"CY Obligations Water Operating Reserve 13,194,912$ 35.61%14,947,238$ 40.33%7,593,220$ 7,354,018$ Water Emergency Reserve 6,958,690 18.78%6,990,663 18.86%5,813,701 1,176,962 Water Capital Project Reserve 5,185,886 13.99%5,197,365 14.02%6,327,500 (1,130,135) Rate Stabilization Reserve 3,981,162 10.74%4,008,824 10.82%1,600,999 2,407,825 Un-Restricted Water Reserve Balance 29,320,649 31,144,090 21,335,420 9,808,670 Conservation Reserve 105,011 0.28%103,011 0.28%- 103,011 Employee Liability Reserve 296,585 0.80%296,585 0.80%273,000 23,585 Restricted Reserve Balance 401,596 399,596 273,000 126,596 Sewer Operating Reserve 1,733,315 4.68%1,651,133 4.46%403,967 1,247,166 Sewer Emergency Reserve 2,582,532 6.97%2,588,451 6.98%1,899,951 688,500 Sewer Capital Project Reserve 1,519,729 4.10%1,274,635 3.44%2,000,000 (725,365) Un-Restricted Sewer Reserve Balance 5,835,576 5,514,219 4,303,918 1,210,301 Total Reserve Balances 35,557,821$ 95.95%37,057,906$ 100.00%25,912,338$ 11,145,568$ Water Operating 615,474 579,911 Sewer Operating (183,561)84,314 431,914 664,225 Rev. Bond 2012A & 2017A-Principal & Interest 403 403 Public Agency Retirement Svc. -PARS (Restricted)243,170 245,957 Total Cash and Investments 36,233,308$ 37,968,490$ Cash & Investment Summary Report Cash & Investment Summary Comparison Between Current and Previous Month Wells Fargo Bank Checking US Bank Held (Restricted) 2 3 Investment Balances (as of 12-31-2018) Checking Account: 1.75% / ^Money Market Accounts: I 9.76% Certificates of Deposit: 5.45% Pooled Investment Accounts: 83.04% Checking Account: $ 664,225 1.75% Money Market Accounts: $ 3,705,534 9.76% Certificates of Deposit. $ 2,069,572 5.45% Pooled Investment Accounts: $ 31,529,160 83.04% Total $ 37,9689490 100.00% Yorba Linda Water District Fair Value Measurement Report December 31, 2018 Quoted Observable Unobservable Prices Inputs Inputs Investments Level 1 Level 2 Level 3 Total CalTRUST Investment Pool -$ 19,102,745$ -$ 19,102,745$ Local Agency Investment Fund - 12,426,415 - 12,426,415 U.S. Government Sponsored Agency Securities - - - - Negotiable Certificates of Deposit - 2,069,572 - 2,069,572 Total Investments -$ 33,598,731$ -$ 33,598,731$ 4 PARS (Public Agency Retirement Services) Funding Reconciliation Transaction Contributions PARS Expenses Investment Available Description Date & Gains & Losses Return (%)Balance Beginning Balance 7/1/2018 247,389.78$ 247,389.78$ Investment Return 7/31/2018 3,520.41$ 250,910.19$ Investment Expenses 7/31/2018 (51.54)$ 250,858.65$ Investment Return 8/31/2018 3,307.14$ 254,165.79$ Investment Expenses 8/31/2018 (52.26)$ 254,113.53$ Investment Return 9/30/2018 (332.13)$ 253,781.40$ Investment Expenses 9/30/2018 (52.94)$ 253,728.46$ Investment Return 10/31/2018 (10,505.63)$ 243,222.83$ Investment Expenses 10/31/2018 (52.86)$ 243,169.97$ Investment Return 11/30/2018 (50.66)$ 243,119.31$ Investment Expenses 11/30/2018 2,837.57$ 245,956.88$ subtotal =245,956.88$ Initial Deposit 12/28/2017 247,599.00$ Gain(Loss) from initial Deposit (1,642.12)$ 5 $30,381,649 $29,312,289 $29,397,305 $31,144,090 414 415 401 398 60 110 160 210 260 310 360 410 460 $20,000 $5,020,000 $10,020,000 $15,020,000 $20,020,000 $25,020,000 $30,020,000 $35,020,000 Dec. 2015 Dec. 2016 Dec. 2017 Dec. 2018 Unrestricted Reserves & Days in Cash (Water) Unrestricted Reserves (Water)Days in Cash (Water) 6 ITEM NO. 9.1 AGENDA REPORT Meeting Date: January 22, 2019 Subject:Directors' Reports · Intergovernmental Meetings, Conferences, and Events SUMMARY: The Directors will report on their attendance at the following events: 1. ACC-OC City Leader Reception - January 10, 2019 (Nederhood) 2. WACO Planning Committee - January 15, 2019 (Jones) 3. YL City Council - January 15, 2019 (Hawkins) 4. MWDOC Board - January 16, 2019 (Miller) 5. OCWA Luncheon - January 16, 2019 (Miller) 6. OCWD Board - January 16, 2019 (Jones) ITEM NO. 10.2 AGENDA REPORT Meeting Date: January 22, 2019 Subject:Joint Agency Committee with City of Yorba Linda (Jones/Hawkins) · Minutes of the meeting held December 10, 2018 at 4:00 p.m. · Next meeting scheduled March 11, 2019 at 4:00 p.m. at YL City Hall. ATTACHMENTS: Name:Description:Type: 2018-12-10_-_Minutes_-_YLWD-City_of_YL.pdf Minutes Minutes YLWD/CC Joint Advisory Committee Minutes Dec 10, 2018 CITY OF YORBA LINDA Land of Gracious Living YORBA LINDA WATER DISTRICT/ CITY COUNCIL JOINT ADVISORY COMMITTEE MEETING MINUTES December 10, 2018 4:00 p.m. 1. CALL TO ORDER The Yorba Linda Water District/City Council Joint Advisory Committee meeting will convene at 4:03 p.m. in the Council Chambers at 4845 Casa Loma Avenue, Yorba Linda. 2. PLEDGE OF ALLEGIANCE Yorba Linda Assistant City Manager Dave Christian 3. ROLL CALL Committee Members City Council: Gene Hernandez, Council Member Water District: Al Nederhood, President Brooke Jones, Vice President Staff Members: Marc Marcantonio, General Manager YL Water District Dave Christian, Assistant City Manager City of Yorba Linda 4. PUBLIC COMMENTS None 5. ACTION CALENDAR 5.1 Minutes of the YLWD/City Council Joint Advisory Committee meeting held on September 10, 2018. YLWD/CC Joint Advisory Committee Minutes Dec 10, 2018 The YLWD/City Council Joint Advisory Committee approved the minutes of the September 10, 2018 meeting. 6. DISCUSSION ITEMS 6.1 Pending and Recently Chaptered Water Related Legislation General Manager Marc Marcantonio spoke about SB 845, which required that a voluntary tax be placed on water bills essentially making water utilities tax collectors for the State, was defeated. However, it has been resurrected as AB 134, Safe, clean, affordable and accessible drinking water, submitted by Assemblyman Bloom. SB 998, instituting water shut-off prohibitions, was passed by the Legislature but legal challenges are anticipated as it appears to violate Prop. 218. Both of these Bills were opposed by the Yorba Linda Water District and the Association of California Water Agencies. 6.2 State’s Long-term Framework for Indoor/Outdoor Water Use Efficiency General Manager Marcantonio said that the State is determining how individual Water Service Areas’ water budgets will be calculated. He said that new indoor standards are defined, but not outdoor water calculations. Additionally, the State is preparing to issue a statewide water loss standard as required by SB 555, which would have to be achieved by 2020. The Yorba Linda Water District is proactively working to determine how much irrigable space exists for each of the 25,000 parcels it serves. If the State uses a different data set and comes up with outdoor square footage numbers lower than the District’s calculations, it will challenge that data to ensure the District’s water allotment is appropriate. It is still unknown when the State will publish the rules but likely not until fall. An update will be provided as soon as more information is available. Julia Schultz, resident, commented on the 55 gallon per person water restrictions. 6.3 Formation of Community Facilities Districts for Connecting Customers with Septic Tanks to District Wastewater Distribution System General Manager Marcantonio revealed that the Water District has been approached by some residents of the City of Yorba Linda who would like to consider the possibility of forming a Community Facilities District to allow conversion of septic tanks to sewers, using the bonding approach to repay costs on their property taxes. The matter will be discussed further at the Water Board meeting tomorrow. YLWD/CC Joint Advisory Committee Minutes Dec 10, 2018 John Koehler, resident, said he lives on a cul-de-sac of six homes where five of the homes are on septic tanks. Councilmember Gene Hernandez recommended that Public Works Director/City Engineer Max Maximous support the Water District in its efforts to implement Community Facilities Districts. 6.4 Future Meeting Date and Agenda Items The Committee agreed to meet again on Monday, March 11, 2019 at 4:00 p.m. No additional items for the next Agenda were discussed. 7. ADJOURNMENT 7.1 Assistant City Manager Dave Christian adjourned the meeting at 5:12 p.m. to the next Yorba Linda Water District/City of Yorba Linda Joint Agency Committee meeting on Monday, March 11, 2019 at 4:00 p.m. ITEM NO. 11.1 AGENDA REPORT Meeting Date: January 22, 2019 Subject:Meetings from January 23 - March 31, 2019 ATTACHMENTS: Name:Description:Type: BOD_-_Activities_Calendar.pdf Backup Material Backup Material Board of Directors Activity Calendar Event Date Time Attendance By January MWDOC/OCWD Joint Planning Committee Wed, Jan 23 8:30 AM TBD OCSD Board Wed, Jan 23 6:00 PM Hawkins YL Planning Commission Wed, Jan 23 6:30 PM Hawkins (As Needed) Interagency Committee Meeting with MWDOC and OCWD Thu, Jan 24 4:00 PM Jones/Hawkins GRAC Conference Mon, Jan 28 8:00 AM Jones GRAC Conference Tue, Jan 29 8:00 AM Jones ISDOC Thu, Jan 31 11:30 AM Jones/Nederhood February WACO Fri, Feb 1 7:30 AM TBD ISDOC Executive Committee Tue, Feb 5 7:30 AM Nederhood SAWPA Commission Tue, Feb 5 9:30 AM Jones (As Needed) YL City Council Tue, Feb 5 6:30 PM Hall MWDOC Board Wed, Feb 6 8:30 AM Miller/Nederhood SAWPA Commission Wed, Feb 6 9:30 AM TBD OCWD Board Wed, Feb 6 5:30 PM Jones Board of Directors Regular Meeting Tue, Feb 12 6:30 PM OC LAFCO Wed, Feb 13 8:15 AM TBD YL Planning Commission Wed, Feb 13 6:30 PM Hawkins (As Needed) District Offices Closed Mon, Feb 18 7:00 AM WACO Planning Committee Tue, Feb 19 7:30 AM Jones/Nederhood SAWPA Commission Tue, Feb 19 9:30 AM Jones (As Needed) YL City Council Tue, Feb 19 6:30 PM Miller First Responders Appreciation Breakfast Wed, Feb 20 7:00 AM Hawkins MWDOC Board Wed, Feb 20 8:30 AM Miller/Nederhood SAWPA Commission Wed, Feb 20 9:30 AM TBD OCWA Luncheon Wed, Feb 20 11:30 AM TBD SAWPA Emerging Constituents Workgroup Wed, Feb 20 1:30 PM Miller OCWD Board Wed, Feb 20 5:30 PM Jones Board of Directors Regular Meeting Tue, Feb 26 6:30 PM UWI Spring Conference Wed, Feb 27 8:00 AM Jones/Nederhood OCSD Board Wed, Feb 27 6:00 PM Hawkins YL Planning Commission Wed, Feb 27 6:30 PM Hawkins (As Needed) UWI Spring Conference Thu, Feb 28 8:00 AM Jones/Nederhood March WACO Fri, Mar 1 7:30 AM TBD UWI Spring Conference Fri, Mar 1 8:00 AM Jones/Nederhood ISDOC Executive Committee Tue, Mar 5 7:30 AM Nederhood SAWPA Commission Tue, Mar 5 9:30 AM Jones (As Needed) YL City Council Tue, Mar 5 6:30 PM Nederhood MWDOC Board Wed, Mar 6 8:30 AM Miller/Nederhood SAWPA Commission Wed, Mar 6 9:30 AM TBD OCWD Board Wed, Mar 6 5:30 PM Jones Joint Committee with City of Yorba Linda Mon, Mar 11 4:00 PM Jones/Hawkins Board of Directors Regular Meeting Tue, Mar 12 6:30 PM OC LAFCO Wed, Mar 13 8:15 AM TBD YL Planning Commission Wed, Mar 13 6:30 PM Hawkins (As Needed) WACO Planning Committee Tue, Mar 19 7:30 AM Jones/Nederhood SAWPA Commission Tue, Mar 19 9:30 AM Jones (As Needed) YL City Council Tue, Mar 19 6:30 PM Jones MWDOC Board Wed, Mar 20 8:30 AM Miller/Nederhood SAWPA Commission Wed, Mar 20 9:30 AM TBD OCWA Luncheon Wed, Mar 20 11:30 AM TBD OCWD Board Wed, Mar 20 5:30 PM Jones Board of Directors Regular Meeting Tue, Mar 26 6:30 PM OCSD Board Wed, Mar 27 6:00 PM Hawkins YL Planning Commission Wed, Mar 27 6:30 PM Hawkins (As Needed) ISDOC Thu, Mar 28 11:30 AM TBD Interagency Committee Meeting with MWDOC and OCWD Thu, Mar 28 4:00 PM Jones/Hawkins As of January 15, 2019 BACKUP MATERIALS DISTRIBUTED LESS THAN 72 HOURS PRIOR TO THE MEETING PREPARED FOR: Yorba Linda Water District PREPARED BY: Shawn Dewane Dewane Investment Strategies Institutional Fiduciary Solutions Objective Guidance for Institutional Investors © 2018 Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. ©2018 Raymond James Financial Services, Inc., member FINRA/SIPC Raymond James® is a registered trademark of Raymond James Financial, Inc. IFS18-2333010 Exp. 11/29/19 IFS | Institutional Fiduciary Solutions MATERIALS SUBMITTED BY: Shawn Dewane MEETING DATE: January 22, 2019 ITEM NO. 8.1. UNIQUE CHALLENGES REQUIRE UNIQUE SUPPORT 2 OF 15 | INSTITUTIONAL FIDUCIARY SOLUTIONS -Yorba Linda Water District serves residents of Yorba Linda and portions of Placentia, Brea, Anaheim and areas of unincorporated Orange County -Approximately $10MM in reserve assets.. -Time Horizon: 0 – 5 Years -Return Objective:Safety of principal, Liquidity -Spending Policy:Asset replacement, maintenance and repair -Seeking…well-crafted investment management process;guiding the prudent investment of reserves Our Understanding MATERIALS SUBMITTED BY: Shawn Dewane MEETING DATE: January 22, 2019 ITEM NO. 8.1. UNIQUE CHALLENGES REQUIRE UNIQUE SUPPORT 3 OF 15 | INSTITUTIONAL FIDUCIARY SOLUTIONS At Raymond James,we understand the importance of our clients meeting their investment stewardship obligations.We take an objective,unbiased approach and tailor our guidance and services to each client situation. The team of investment professionals at Raymond James Institutional Fiduciary Solutions works with us to provide for all aspects of investment consulting –from strategy development and investment research to reporting and periodic reviews . Our proactive advice includes the creation and implementation of a well-defined process for making informed investment decisions based on prudent investment practices.Each investment strategy is developed in consideration of well- established fiduciary standards and is backed by our philosophy of conservative management. Our Mission There is no assurance that any investment strategy will be successful. All investing involves risk and you may incur a profit or loss. MATERIALS SUBMITTED BY: Shawn Dewane MEETING DATE: January 22, 2019 ITEM NO. 8.1. PROVEN HISTORY. PROVEN EXPERIENCE. As of 9/30/2018. Past performance is not an indication of future results. The information provided is for informational purposes only and is not a solicitation to buy or sell Raymond James Financial stock. A credit rating of a security is not a recommendation to buy, sell or hold securities and may be subject to review, revisions, suspension, reduction or withdrawal at any time by the assigning rating agency. The FORTUNE 500 is an annual list by FORTUNE magazine that ranks 500 of the largest U.S. corporations based on fiscal-year total revenues. FORTUNE and FORTUNE 500 are registered trademarks of Time Inc. and are used under license. From FORTUNE Magazine, June 15, 2018. © 2018 Time Inc.Used under license. 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OBJECTIVE ADVICE FOR INSTITUTIONAL INVESTORS 5 OF 15 | INSTITUTIONAL FIDUCIARY SOLUTIONS Who do we serve? ►Nonprofits ►Insurance Pools ►Foundations & Endowments ►Corporations ►Native American Entities ►Pension Plans ►Taft Hartley Plans ►Governments & Municipalities MATERIALS SUBMITTED BY: Shawn Dewane MEETING DATE: January 22, 2019 ITEM NO. 8.1. A FULL BREADTH OF SERVICES. SOPHISTICATED INVESTMENT TOOLS AND STRATEGIES. 6 OF 15 | INSTITUTIONAL FIDUCIARY SOLUTIONS ►Investment Policy Review and Development Assistance ►Asset Allocation Analysis and Guidance ►Investment Search and Selection Assistance ►Performance Reporting ►Research and Due Diligence ►Services and Education for Fiduciaries Disclosure: All investing involves risk and you may incur a profit or a loss. There is no guarantee that this or any investment strategy will be successful. Asset allocation and diversification does not ensure a profit or protect against a loss. 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UNIQUE MONITORING TOOL: CLIENT SERVICE PLAN 9 OF 15 | INSTITUTIONAL FIDUCIARY SOLUTIONS We offer a customized Client Service Plan,which is a unique monitoring tool that serves to summarize performance report information relative to a defined monitoring criteria.This tool also serves to document a client’s stewardship and enables more effective and efficient decision making. transparency accountability documentation MATERIALS SUBMITTED BY: Shawn Dewane MEETING DATE: January 22, 2019 ITEM NO. 8.1. 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All investing involves risk and you may incur a profit or a loss.Asset allocation and diversification does not ensure a profit or protect against a loss.There is no assurance that any investment strategy will be successful.Past performance is not a guarantee of future results.It is important to review the investment objectives,risk tolerance,tax objectives and liquidity needs before choosing an investment style or manager.All investments carry a certain degree of risk and no one particular investment style or manager is suitable for all types of investors. NOT Deposits • NOT Insured by FDIC or any other government agency • NOT GUARANTEED by the bank • Subject to risk and may lose value MATERIALS SUBMITTED BY: Shawn Dewane MEETING DATE: January 22, 2019 ITEM NO. 8.1. CASH OR DEBT FUNDING?Item 8.2 January 22, 2019 MATERIALS SUBMITTED BY: Brett R. Barbre MEETING DATE: January 22, 2019 ITEM NO. 8.2. YLWD DEBT HISTORY 1978 –Post Proposition 13 ID#1 -$27,320,000 –Quarterhorse, Springview, Little Canyon, Chino Hills ID#2 -$41,660,000 –Santiago, Bryant Ranch, Elk Mountain, Camino de Bryant 2003 -$10,645,000 –YLWD HQ; Highland Reservoir 2008 -$34,995,000 –Misc. projects; Lakeview; Highland BPS; Hidden Hills* 2012 -$8,330,000 -Refunding 2003 bonds 2017 -$29,335,000 –Refunding 2008 bonds; Fairmont BPS MATERIALS SUBMITTED BY: Brett R. Barbre MEETING DATE: January 22, 2019 ITEM NO. 8.2. CASH FUNDING CONSIDERATIONS Advantages No interest expense No exposure to capital markets No ongoing expenses Less administrative time No investor covenants Disadvantages Reduces Y LWD’s Designated Funds and impacts its ability to achieve the adopted Days Cash target Impacts financial flexibility and ability to respond quickly in a “disaster” scenario Hinders future capital market access Potential for rate spikes Opportunity cost – limits funds’ availability for other public projects MATERIALS SUBMITTED BY: Brett R. Barbre MEETING DATE: January 22, 2019 ITEM NO. 8.2. DEBT FUNDING CONSIDERATIONS Advantages Ability to take advantage of attractive construction bid and interest rate environment Maintains adequate liquidity for operating and emergency purposes No opportunity cost: facilitates funds’ availability for other public projects Smoothes out rate profile Disadvantages Interest expense Exposure to capital markets Covenants with investors and ongoing expenses (arbitrage rebate calculations, trustee fees, continuing disclosure) More administrative time Costs up to $300,000 per issuance (Legal, FA/MA, NRSRO, etc.) MATERIALS SUBMITTED BY: Brett R. Barbre MEETING DATE: January 22, 2019 ITEM NO. 8.2. FUND WITH CASH VS. DEBT: WHICH ONE? It up to the Board to determine Size and Nature of Project Market Conditions Costs Available Resources Future Plans Long-term impact How does it fit with Y LWD’s long-term strategic plan goals and policies MATERIALS SUBMITTED BY: Brett R. Barbre MEETING DATE: January 22, 2019 ITEM NO. 8.2. STAFF RECOMMENDATION R&R –CASH funded Pipeline/valve/hydrant replacement Well rehabilitation New Projects –DEBT funded Treatment Plant New Wells/Fire Suppression Systems AMI CFD/SAD Financing Threshold -$15 million minimum Same Expenses (Legal, MA/FA, NRSRO, etc.) Generational Equity Study –Parents? Grandparents? Great-Grandparents? MATERIALS SUBMITTED BY: Brett R. Barbre MEETING DATE: January 22, 2019 ITEM NO. 8.2. MATERIALS SUBMITTED BY: Brett R. Barbre MEETING DATE: January 22, 2019 ITEM NO. 8.2.