Finance/Real Estate Committee Meeting of the Board of Trustees

June 3, 2024  - 5:30 PM

A PDF of the meeting agenda and packet can be found at the end of this page.

Click here to learn how to observe and participate in the committee meeting.

Agenda

1.    Call to Order

2.    Roll Call

• Ron Collins (Chair), City of San Carlos
• Muhammad Baluom, City of Millbrae
• Ray Williams, Town of Portola Valley
• Robert Riechel, City of San Bruno
• Michael Yoshida, City of South San Francisco
• Mason Brutschy, Town of Atherton
• Kati Martin, City of Half Moon Bay
• Paul Norton, City of Foster City (Chair)
• Kat Lion, City of Redwood City

3.    Public Comments and Announcements

This time is reserved for public members to address the Finance Committee of the Board relative to matters of the Committee not on the agenda. No action may be taken on non-agenda items unless authorized by law. Comments will be limited to three minutes per person (or six minutes where a translator is used).

4.    Regular Agenda

A.   Resolution M-005-24 recommending approval of the Final Assessment Diagram and Engineers Report and Stating the Intention to Continue to Levy the North and West County Mosquito and Disease Control Assessment District

• Report by: District Manager Brian Weber
• ACTION: Recommend the Board approve resolution M-005-24 and the Final Assessment Diagram and Engineers Report and State the Intention to Continue to Levy the North and West County Mosquito and Disease Control Assessment District.

B.    Review the Preliminary Financial Report for FY 2023-24 as of April 30, 2024

• Report by: Finance Director, Richard Arrow, CPA
• ACTION: Recommend the Board approve the Financial Report for FY 2023-24 as of April 30, 2024

C. Presentation and review of proposed FY 24-25 Draft Budget and FY 23-24 spending plan with recommended FY 23-24 Budget revisions.

• Report by: Richard Arrow, CPA, Finance Director
• ACTION: Recommend forwarding FY 24-25 Draft Budget and FY 23-24 to the Board of Trustees with recommended FY 23-24 Budget revisions.

D. Recommended Reserve levels as of June 30, 2024

• Report by: Richard Arrow, CPA, Finance Director
• ACTION: Recommend forwarding the proposal of recommended reserve levels to the Board of Trustees for fiscal year ended June 30, 2024

E. Recommend the Board authorize the District Manager and Counsel to negotiate a contract not to exceed $475,000 with Capital Project Management (CPM) for Construction and Project Management services at 1415 North Carolan Ave, Burlingame, and project update

• Report by: District Manager Brian Weber
• ACTION: Recommend the Board authorize the District Manager and Counsel to negotiate a contract with Capital Project Management (CPM) for Construction and Project Management services at 1415 North Carolan Ave, not exceeding $475,000.

F. Resolution M-006-24 Health Reimbursement Arrangement Plan Amendment with Mid America to include Board Members

• Report by: District Manager Brian Weber
• ACTION: Approve resolution M-006-24, a contract amendment with Mid-America Administrative and Retirement Solutions for the District’s Health Reimbursement Arrangement to include Board Members

G. Review the independent audit proposal from Pun & Associates for $137,500 for five years beginning July 1, 2024.

• Report by: Finance Director Richard Arrow
• ACTION: Recommend the Board approve the independent audit proposal from Pun and Associates for $137,500 for five years.

H. Retirement of one technician pickup truck from fixed asset inventory

• Report by: District Manager, Brian Weber
• ACTION: Recommend the Board approve the retirement of one technician pickup truck from fixed asset inventory.