Meeting
Minutes
FOR THE FINANCE
COMMITTEE MEETING
BOARD OF
DIRECTORS
IRONHOUSE
SANITARY DISTRICT
DATE: Thursday,
March 13, 2014
TIME: Meeting
Start Time: 10:14 a.m.
PLACE: Ironhouse
Sanitary District Office
450
Walnut Meadows Drive
Oakley,
California 94561
ATTENDANCE: David Huerta, David Contreras, Tom
Williams, Michael Welty
A. Roll
Call
B. Approval
of the Agenda. M/S David Contreras, David Huerta
C. Public
Comments. No
public comment
D. Approve
Finance Committee meeting minutes from November 19, 2013. M/S David Contreras,
David Huerta and the committee voted to approve the meeting minutes of November
19, 2013 as drafted.
E. Receive and Review information presented
by Management staff (GM and Finance Manager) regarding ISD’s Fiscal Year
2014/2015 draft budget. Mr. Williams and Mr. Welty displayed the
current draft budget for FY 2014-2015 via PowerPoint and discussed projected
revenues in detail. Some revenue number
still had to be populated and will be completed by the next meeting on the
committee. Staff then went on to discuss pertinent expense line items in the
proposed budget and made edits on the fly as the committee discussed
items. In particular, discussion
occurred regarding 1) the draft budget does not increase the annual sewer use
charge (rate), and 2) budgeting for an Assistant General Manager position
beginning in July 2014. Staff indicated that not increasing the rate presents
challenges for the District, such as not funding the capital expenditure
reserve account, and leaving minimal room to meet the District’s minimum debt
service requirement. Staff was able to
discuss about one half of the budget before the meeting was adjourned; with
staff requesting any comments/edits from the committee prior to the next
meeting on April 10, 2014, where a final draft budget will be presented to the
committee.
F. Discussion of future items for the
finance committee and proposed meeting dates.
Set the next Finance Committee Meeting for April 10,
2014 at 10:00a.m.
G. Adjournment. The meeting adjourned at 1:55 p.m.
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