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Finance Committee Meeting Minutes Wednesday, April 17, 2019

For your consideration, please read the minutes from the Finance Committee Meeting held on Wednesday, April 17, 2019 at 1:30 p.m.

Finance Committee Meeting Minutes 4-17-19 with Attachments

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

Brunswick-Glynn County Joint Water & Sewer Commission 1703 Gloucester Street, Brunswick, GA 31520

Commission Meeting Room Wednesday, April 17, 2019 at 1:30 PM

 FINANCE COMMITTEE MINUTES

MEMBERS PRESENT:        

Steve Copeland, Committee Chairman

Donald Elliott, Commissioner

Tripp Stephens, Commissioner

Jimmy Junkin, Executive Director

 ALSO PRESENT:                

Ben Turnipseed, Commissioner

Bob Duncan, Commissioner

John Donaghy, Chief Financial Officer

LaDonnah Roberts, Senior Financial Analyst

Andrew Burroughs, Deputy Executive Director

Janice Meridith, Executive Commission Admin.

MEDIA PRESENT:               

Taylor Cooper, The Brunswick News

Chairman Copeland called the meeting to order at 1:39 PM.

PUBLIC COMMENT PERIOD

There being no citizens that wished to address the Committee, Chairman Copeland closed the Public Comment Period.

APPROVAL

  1. Minutes from March 22, 2019 Finance Committee Meeting

Commissioner Elliott made a motion seconded by Chairman Copeland to approve the minutes from the March 22, 2019 Finance Committee Meeting. Motion carried 2-0-1. (Commissioner Stephens abstained due to being absent from that meeting.)

2.                  Fiscal Year 2020 Budget – Plan Approval

Mr. Junkin introduced the discussion and approval for the FY 2020 Budget to be forwarded to the City of Brunswick and Glynn County for review, comment and approval.  A list of the outside contracts from the operating budget for FY 2019 was provided along with a listing of the technical services for FY 2019 for the commissioners’ review. Commissioner Elliott asked John Donaghy to update the list of contracts to reveal what option years are left on each the contracts. Contracts and Technical Services were discussed further.  A forecast model was provided for presentation of FY 2020 R&R Projects and expenditures, SPLOST Projects and expenditures, and also FY 220 Reserves Funding and drawdown. The committee reviewed and discussed various projects and details contained in the model/report. For the next Facilities

Committee meeting, Chairman Turnipseed asked for Andrew Burroughs to go through the projects on the forecast model in more detail. John Donaghy explained that this forecast model was requested by Committee Chairman Copeland to include all anticipated projects in order to be more conservative and ensure that funding is available without unexpected expenditures.  All projects on the list have not been formally approved, however are being used as a placeholder in cash flow for those anticipated expenditures.  Projects, reserves, revenues, transfers, etc. were all discussed in more detail. Mr. Junkin provided and explained an overview of the FY 2020 Proposed Budget. He reviewed the divisional data by object codes and gave supporting background information for the specific line items discussed.

Commissioner Stephens asked about regular wages and overtime, and inquired about the amount of overtime applied for WWTP staff, as it is required to have licensed staff at each plant.  He then asked about the proportionate calculations for the salaries, FICA, group insurance, Medicare, etc. John Donaghy clarified that the overtime was added to the salaries amount, therefore the numbers will not be proportionate. Revenues were then discussed, and it was noted that the revenues are expected to end the FY 2019 at higher than projected due to the increase in rates.  It will be especially important to monitor the revenues for the upcoming FY 2020 in order to ensure that the funding is available for the aggressive project list for the next 18 months. After some additional questions and discussion on a variety of the estimated revenues and expenses a motion was made.

Commissioner Elliott made a motion seconded by Commissioner Stephens to move that the Finance Committee recommend to the full Commission that the Brunswick-Glynn County Joint Water and Sewer Commission approve submission of the Proposed Fiscal Year 2020 JWSC Budget to the City of Brunswick and to Glynn County for their review and comment, and approval of the Fiscal Year 2020 JWSC Budget in the amount of $33,279,000 subject to revision upon receipt of comments received from the City of Brunswick and/or Glynn County. Motion carried 3-0-0.

3.                  Amendments to Pension Plan

John Donaghy recalled that at the last Commission meeting the documents were provided for the GMA Amendments to the Pension Plan. He explained the documents as provided, which included a marked up copy of the current adoption and the Amendment, and also a summary of the changes.  There were no changes of any substance with the exception of a maximum salary cap which is not applicable for JWSC. He explained that this amendment was only a technical correction to the master plan of the GMA.

Commissioner Stephens made a motion seconded by Commissioner Elliott to move that this item, which was deferred at the previous Commission meeting, be moved forward to the full Commission for approval. Motion carried 3-0-0.

4.          Leak Adjustments

Mr. Junkin stated that ads per the protocol of the County Ordinance he was required to bring two leak adjustments to the Finance Committee and then the full Commission for approval to make the adjustments. The requirement is that any leak adjustment in excess of $2,000 is to be brought before the full Commission for approval. Mr. Junkin then reviewed the leak adjustments with the committee, the first of which was for Raymond Trace in the amount of $2,344.37 and the second for The Hampton Club in the amount of $3,407.19.

Commissioner Stephens made a motion seconded by Commissioner Elliott to move that the Finance Committee recommend to the full Commission that the Brunswick-Glynn County Joint Water and Sewer Commission approve leak adjustments in the amounts of $,344.37 for Raymond Trace and $3,407.19 for The Hampton Club. Motion carried 3-0-0.

DISCUSSION

    1. Financial Policies

Commissioner Elliott requested to defer this item to the next meeting in order to allow time to thoroughly read the documents. Committee Chairman Copeland and Commissioner Stephens agreed.

Commissioner Stephens asked about the Cut-Off Policy and inquired if that policy draft would be made available.  Committee Chairman Copeland indicated that the Cut-Off Policy is to be placed on the next Finance Committee agenda.

2.                  Financial Statements – Month End March 2019

John Donaghy reviewed the financial statements for the month ending March 2019 with the committee.

There being no further business, Chairman Copeland adjourned the meeting at 3:17 p.m.

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Brunswick - Glynn Joint Water & Sewer Commission - 1703 Gloucester Street Brunswick, GA 31520 - 912-261-7100