Finance/Administration Committee Agenda

REGULAR MEETING OF THE FINANCE/ADMINISTRATION COMMITTEE
CENTRAL BASIN MUNICIPAL WATER DISTRICT

6252 Telegraph Road
2nd Floor Conference Room, Room 1-229
Commerce, California 90040-2512

1:00 P.M. WEDNESDAY, February 13, 2008

ATTENDANCE

Committee Members:

• Philip Hawkins (Chair)
• Robert Apodaca

Alternate Members

• Rudy C. Montalvo

Also Present

• Art Aguilar
• Joone Lopez
• Margarita Gómez
• Aileen Hermoso
• Dan Lam
• Al Plimpton
• Lisa Sanchez

*The Central Basin Municipal Water District Finance/Administration Committee meeting is noticed as a committee meeting for the purpose of compliance with the Brown Act. Two Board members are assigned as members of this Committee and one as an alternate. In order to preserve the function of the committee as advisory to the Board, members of the Board who are not assigned to the Finance/Administration Committee may attend, but may not participate or vote on matters before the Committee.

COMMUNICATIONS

1. CALL TO ORDER.

2. PUBLIC COMMENT.

3. ITEMS TOO LATE TO BE AGENDIZED: Determine the need to discuss and/or take action on item(s) introduced that came to the attention of the District subsequent to the posting of the agenda.

CONSENT CALENDAR

4. ACTION ON MINUTES – January 29, 2008 (Regular)

5. FINANCIAL REPORT

A. Director Demands
B. Demands
C. Cash and Investments
D. Water Sales Statements (Handout)

ACTION CALENDAR

6. CONTRACTS UNDER GENERAL MANAGER’S AUTHORITY

ACTION: Receive and file.

7. DIRECTORS’ COMPENSATION

ACTION: That the Board considers increasing the Directors’ current compensation rate by 3.3% for a new rate of $233.17 per day, effective March 1, 2008.

8. PAYMENT OF CALPERS UNFUNDED LIABILITY

ACTION: That the Board authorizes the General Manager to pay off the CalPERS unfunded liability (specifically called the “Side Fund”) for an amount no more than $350,000.

8A. RESOLUTION NO. 02-08-739 ENDORSING ROBERT APODACA FOR INDEPENDENTSPECIAL DISTRICT REPRESENTATIVE TO THE LOS ANGELES COUNTY LOCALAGENCY FORMATION COMMISSION (LAFCO)

ACTION: That the Board approves, adopts and authorizes the President to sign Resolution No. 02-08-739, “A RESOLUTION OF THE BOARD OF DIRECTORS CENTRAL BASIN MUNICIPAL WATER DISTRICT ENDORSING ROBERT APODACA FOR INDEPENDENT SPECIAL DISTRICT REPRESENTATIVE TO THE LOS ANGELES COUNTY LOCAL AGENCY FORMATION COMMISSION (LAFCO).”

INFORMATION CALENDAR FOR DISCUSSION

NONE.

INFORMATION FOR CONSENT CALENDAR

NONE.

COMMITTEE INFORMATION ONLY

9. SWAP ANALYSIS – HANDOUT

10. SUMMARY OF LOCAL AGENCY INVESTMENT FUND INTEREST AND INVESTMENT RETURNS - HANDOUT

10A. OUTSOURCING OF PAYROLL

COMMUNICATIONS

11. DIRECTORS' COMMENTS.

ADJOURNMENT.

Note: At the discretion of the Board, all items appearing on this agenda, whether or not expressly listed for action, may be deliberated and may be subject to action by the Board.