Finance Committee Minutes – June 16, 2015

For your consideration, please review the minutes for the Finance Committee Meeting from June 16, 2015:

BGJWSC_Finance_Committee_Minutes_June_16,_2015

To read the minutes, please open or download the pdf from the link above or you may see more below:

PRESENT:                  Donald Elliott, Chairman

Ronald E. Perry, Commissioner

John Cason, Commissioner

John Donaghy, Chief Financial Officer

Steve Swan, Executive Director

Chairman Elliott called the meeting to order at 3:00 PM.

PUBLIC COMMENT PERIOD

There being no citizens who wished to address the Commission, Chairman Elliott closed the Public Comment Period

APPROVAL

Commissioner Perry made a motion seconded by Commissioner Cason to adopt the minutes of the May 19, 2015 Finance Committee meeting. Motion carried 3-0-0.

DISCUSSION

Financial Report as of May 31 – John Donaghy

The Water Production, Water Loss, and Waste Water processing were not available at the time and are being accumulated. John explained how much we are processing compared to using.

Septic Processing Services Rendered and costs were discussed.

John Donaghy discussed the Balance Sheet with the committee members stating there were not many changes from last month. Short term and long term pay off was discussed as well as the bonds. It was noted that some larger Capital Purchase items have been removed as they will be paid off. There were 5 other items brought before the committee stating they were necessary for efficiency of operation and safety but funds were not available. Further discussion stated these items, including an Automatic Chlorine Shut Off Valves, could be paid out of the reserve funds. Commissioner Elliott suggested this request go before the full commission to approve paying for internal capital needs. All in attendance agreed 3-0-0. Discussion continued and noted there is a need to stay within the operating budget.

FY16 Operating Budget – John Donaghy

John Donaghy discussed the 2016 Operating Budget with the Committee members. It was suggested to place this item on the agenda for the full commission for approval and then to send to the City and County for review and comment.

Rate Resolution – Steve Swan

Steve Swan discussed the 2010 Resolution for fifty percent (50%) reduction of connection/capital tap fees with the Committee Members. It was agreed by all to put before the full commission for review and vote to return back to original resolution.

Director’s Update

A letter was received by Larry’s Sub owner addressing the Water Use Ordinance for restaurants and grease traps and will be shared with the Facilities Committee and Full Commission.

There being no additional business to bring before the Finance Committee, Chairman Elliott adjourned the meeting at 4:21 PM.