Minutes - Investment - 2006-06-08 (2)r�
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COSTA MESA SANITARY DISTRICT
MINUTES OF INVESTMENT OVERSIGHT COMMITTEE MEETING
June 8, 2006
CALL TO ORDER The meeting was called to order at 5:30 p.m. by the District Manager,
Mr. Rob Harriers.
ROLL CALL Committee Members Present:
Vice President Greg Woodside (rotating committee member)
Director Arlene Schafer (rotating committee member)
Mr. Rob Harriers, 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
NEW BUSINESS
PUBLIC COMMENTS
ADJOURNMENT
Approved by:
Reserve Balances
Ms. Davis discussed the District's current reserve balances and the need
to budget additional monies to meet the required 25 percent operating
reserves as the budget increases. Also discussed was possibility of
increasing the District's operating reserve requirement from 25 percent
to perhaps 50 percent.
There were no items discussed under public comments.
The meeting adjourned at 5:58 p.m.
Secretary, Costa Mesa Sanitary District
Board of Directors
•
President, Costa Mesa Sanitary District
Board of Directors