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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: • 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