Finance Committee Minutes – March 17, 2015

For your consideration, please review the minutes for the Finance Committee Meeting from March 17, 2015:

BGJWSC_Finance_Committee_Minutes_March_17,_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

John A. Cason, Commissioner

Ronald E. Perry, Commissioner

Tom Boland, Commissioner

ALSO PRESENT:      Steve Swan, Executive Director

John Donaghy, Director of Administration

Chairman Elliott called the meeting to order.

Commissioner Cason made a motion seconded by Commissioner Perry to adopt the minutes of the February 17, 2015 Finance Committee meeting. Motion carried 3-0-0.

Discussions:

Financing of Capital Projects: Telephone conference call with David Lucas, Gary Rehm and Chris Johnson of Sterne Agee. Discussion of bond issues, options and what services Sterne Agee can provide us.

February Financial Statement: John Donaghy reviewed the current financial statement thru February. Will be reviewing the tap fees and if we will be increasing the fees.

Reserves: Mr. Donaghy advised the Committee that not all the transfers for February have been completed before the meeting. Mr. Steve Swan would like the R & R project report reworked and will work with Todd Kline to prioritize the report.

Condrey & Associates Wage & Benefits Study: Mr. Swan and Mr. Donaghy reviewed the report findings with the Committee and their recommendation. The Committee agreed with the recommendation and requested that it be put to the Full Commission.

2016 Budget: Mr. Donaghy advised the Committee that staff will begin reviewing their budgets and entering their budgets into Innoprise.

DIRECTOR’S UPDATE:

Review of the Turn on/Turn off policy: Mr. Donaghy reviewed the current policy with the Committee. The Committee recommended a 24 hour notice to be given to customers who are about to have the water turned off. Mr. Donaghy advised that he has been looking into automating these notices. Mr. Donaghy is also looking at a better reporting system. Current reporting is too broad and John and Steve have to review the report daily to confirm who is getting cut off.

Mr. Donaghy stated that for the cut on policy there should be someone home before the water is cut on to avoid and possible damage to the home. Committee suggested that the employee knock on the door first to confirm that someone is home before turning the water on.

Innoprise: Mr. Donaghy advised the Committee that JWSC have been billed for the 2nd implementation of the software but the conversion has not been completed and there are still issues that have not been ironed out by both parties. We will be holding the invoice until all issues have been resolved.

There being no additional business to bring before the Finance Committee, Chairman Elliott adjourned the meeting.