HomeMy WebLinkAbout1994-03-21 - Finance-Accounting Committee Meeting Minutes
' ITEM NO. I la
' AGENDA REPORT
' DATE: April 14, 1994
TO: President and Members of the Board
' FROM: Finance Accounting Committee
' SUBJECT: Summary Minutes of Finance-Accounting Committee Meeting
On March 21, 1994, the Finance-Accounting Committee held a meeting. Present were Arthur C.
Korn, Michael J. Beverage, William Robertson and Beverly Meza. The following items were
discussed at the meeting:
' 1. MWDOC-MWD Meeting: Director Korn reported to the committee on the
MWDOC and MWD Financial Structure Committee meeting. The committee discussed how
the financial structure of MWDOC and MWD will affect the District.
' 2. Financial aspects of 1994 Five Year Plan: Mr. Robertson reported that staff was
' gathering information and putting the 5 Year Plan together at this time. Staff will report back
to the committee when the 5 year plan is further along in the planning stage.
3. Status Report on Preparation of Fiscal 1994-95 Budget. Mr. Robertson
' discussed preparation for the fiscal 1994-95 Budget. The committee asked questions and
offered advice to staff.
' 4. Analysis of Expenses vs. Revenues for Fiscal 1993-94 Year- to-Date. Mr.
Robertson reported on the increases of revenues and decreases of controllable expenses that
contribute to the increase in net income. The committee discussed the matter and offered
advice. The staff will investigate further and bring back this subject to the committee.
5. Discussion Regarding Issuance of Tax and Revenue Anticipation Notes. Ms.
' Meza reported that the District could earn $41,000 on a Tax and Revenue Anticipation note.
The committee discussed the information. The committee requested that staff invite Ms. Lora
Stovall from Bartle Wells Associates to the April 14, board meeting. She will give a full
' presentation on the Issuance of a Tax and Revenue Anticipation Note by the District to the
Board on April 14.
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