Minutes - Investment- 2005-12-08•
COSTA MESA SANITARY DISTRICT
MINUTES OF INVESTMENT OVERSIGHT COMMITTEE MEETING
December 8, 2005
CALL TO ORDER The meeting was called to order at 5:37 p.m. by the District Manager, Mr.
Rob Harriers.
ROLL CALL Committee Members Present:
NEW BUSINESS
PUBLIC COMMENTS
ADJOURNMENT
Approved by:
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Vice President Greg Woodside (rotating committee member)
Director Arlene Schafer (rotating committee member)
Mr. Rob Hamers, Manager/ District Engineer
Committee Members Absent: None
Staff Members Present:
Ms. Wendy Davis, Treasurer
Ms. Joan Revak, Board Secretary /Clerk of the District
Ms. Sherry Kallab, Accountant
Reserve Balance
Ms. Davis discussed the current reserve balances within the Solid Waste
and the Liquid Waste Funds as of June 30, 2005. The District has set
aside the required reserves for operating, capital outlay and fixed assets.
The Unreserved Undesignated Retained Earnings within the Solid Waste
Fund at June 30, 2005 was $136,619.90. The Unreserved Undesignated
Retained Earnings within the Liquid Waste Fund at June 30, 2005 was
$117.23. Ms. Davis discussed the need to build up the reserves in both
funds. Discussion followed.
There were no items discussed under public comments.
The meeting adjourned at 5:58 p.m.
Secretary, Costa Mesa Sanitary District President, Costa Mesa Sanitary District
Board of Directors Board of Directors