Minutes - Board - 2000-08-07' COSTA MESA SANITARY DISTRICT
Minutes of Board of Directors Special Meeting held August 7, 2000
The Board of Directors of the Costa Mesa Sanitary District met in special session on
August 7, 2000, at 9:30 a. m., in conference room 3A at the Civic Center, 77 Fair Drive,
Costa Mesa, California.
President Perry called the meeting to order at 9:00 a.m.
Vice President Schafer led the Pledge of Allegiance.
Director Woodside gave the invocation.
Roll Call: Directors Present: Art Perry, Arlene Schafer, Greg Woodside, James
Ferryman, Dan Worthington
Staff Present: Rob Hamers, Manager; Tom Fauth, Assistant
Manager; Joan Revak, Clerk of the District; Dawn
Schmeisser, Assessment Specialist; Alan Burns,
Legal Counsel; Marc Puckett, Treasurer; Ron Hayes,
Accounting;
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TREASURER'S REPORT (STATEMENT OF MONIES ON DEPOSIT)
District Treasurer, Marc Puckett, provided explanations to the questions posed by the Board of
Directors at the July 13, 2000 Regular Meeting with regard to the split between trash and
sewer operation funds. Mr. Puckett explained the difference between cash balances, a
measure of liquidity, and fund balances, a measure of results of operations. Mr. Puckett further
informed the Board of the reason for the two million increase in cash balances as of June 30:
1. Project appropriations to replacement reserves adopted in the FY -- budget equaled
$665,000.
2. Orange County Bankruptcy proceeds of $423,128.
3. Depreciation expense recorded for sewer assets of $429,375.
4. Unanticipated delinquent tax collections totaling $379,062
Mr. Puckett provided unaudited financial statements for the fiscal year ended June 30, 2000,
noting that the statements cannot be considered "final' until the accounting records have been
audited by an independent public accountant and an opinion rendered as to accuracy and
fairness of the statements presented as a whole. The audit has been moved up this year by
45 days and the audited financial statements should be issued by September 30 according to
Mr. Puckett.
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CMSD BOARD OF DIRECTORS SPECIAL MEETING 2
August 7, 2000
• 2000 -2007 BUDGET
Mr. Puckett answered additional questions relating to the four items mentioned above
ADJOURNMENT
At 10:33 a. m. President Perry adjourned the meeting.
I SEER TARP PRESIDENT
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