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Home My WebLink About1994-05-05 - Finance-Accounting Committee Meeting Minutes ' ITEM NO. ~L ' AGENDA REPORT DATE: May 10, 1994 TO: President and Members of the Board ' FROM: Finance-Accounting Committee SUBJECT: Summary Minutes of the Finance-Accounting Committee Meeting ' The Finance-Accounting Committee held a meeting at 8:30 a.m. on May 5, 1994. Present were Arthur C. Kom, Mike Beverage, William Robertson and Michael Payne. The following items were discussed at the meeting: ' 1. MWDOC-MWD Finance Committee meeting. Director Korn reported on April 28, MWDOC-MWD Finance Committee meeting. There was a lengthy discussion of Met's ' financial options and concerns expressed over how MWDOC will pass-through Met's proposed fees. The Committee requested that staff monitor MWDOC's activities regarding this matter. ' 2. Financial Aspects of Five Year Plan. Mr. Payne reviewed the financial aspects of the Five Year Plan. Committee members discussed groundwater production costs versus imported water costs; energy costs; future Water Operating Fund and personnel ' expenditures. The Committee requested that staff consider new terms such firm and non- firm in regards to expenditures and revenues. The Five Year Plan will be presented on May 10, for action by the full Board of Directors. ' The Committee took a break from 10:00 a.m. to 10:10 a.m. Mike Payne departed during the break, and Beverly Meza and Barbara Bower joined the Committee meeting for discussion of the next item. ' 3. Discussion of Proposed Fiscal 1994-95 Budget. Mr. Robertson reviewed the preliminary Water and Sewer Operating Fund summaries and department budget ' summaries. Barbara Bower then reviewed details of the proposed Board of Directors budget with the Committee. Details of the proposed Capital Improvement Budget were not presented at this meeting. The Committee reviewed this matter and offered advice to staff. ' The preliminary budget will be presented for discussion by the full Board at the May 10, Board of Directors meeting. ' The meeting adjourned at 11:05 am.