Minutes - Investment - 2006-12-14 •
COSTA MESA SANITARY DISTRICT
MINUTES OF INVESTMENT OVERSIGHT COMMITTEE MEETING
December 14, 2006
CALL TO ORDER The meeting was called to order at 5:00 p.m. by the District Manager,
Mr. Rob Hamers.
ROLL CALL Committee Members Present:
Director Gary Monahan (rotating committee member)
Director Bob Ooten (rotating committee member)
Mr. Rob Hamers, Manager/ District Engineer
Committee Members Absent: None
Staff Members Present:
Ms. Wendy Davis, Treasurer
Mr. Marc Davis, Deputy Treasurer
Ms. Joan Revak, Board Secretary/Clerk of the District
Mr. Tom Fauth, Assistant District Manager
Ms. Sherry Kallab, Accountant
NEW BUSINESS Overview of District's Budget, Investment Policy, Treasurer's Report
and Treasurer Transitions Plan
Ms. Davis discussed the structure of the District' budget for the 2006-07
fiscal year including how the administrative expenses are split between
the funds and the reasons the adopted budget was amended. Staff was
requested to prepare a mid-year budget review for the January regular
Board meeting.
Next Ms. Davis gave an overview of the District's current investment
policy and the November Treasurer's report. Also discussed was
investment strategy used by the City and how it relates to the District's
current financial situation.
Mr. Marc Davis discussed the plan to replace the current Treasurer,
Wendy Davis with himself and a Senior Associate from the CBIZ firm.
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PUEILIC COMMENTS There were no items discussed under public comments.
C ADJOURNMENT The meeting adjourned at 6:00 p.m.
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