Bolinas Community Public Utility District
A Meeting of the Finance Committee Of The Board Of Directors
February 5, 2013     270 Elm Road, Bolinas


1.  Call to Order.

    11:25 a.m.

2.  Roll.

    Directors Amoroso and Kimball present; General Manager Jennifer Blackman also present.

3.  Draft Fiscal Year 2013-14 Budget

    General Manager Jennifer Blackman presented an overview of the draft budget for fiscal year 2013-14.   She noted that while wages and other benefit-related costs will increase next year, the district’s recent revision of its health care plan coverage will result in savings to offset the other cost increases.  In operations, maintenance and special projects for the next fiscal year, the district plans to purchase new turbidity and chlorine meters, re-roof one of the buildings in the maintenance yard and replace additional hydrants.  The district also plans to purchase a new utility vehicle and tools to replace one of its aging and problematic trucks.   Staff also would like to budget to replace the water main on Cedar, and to tent and re-side the lab building at the sewer ponds (which is infested with termites and beetles), but the district does not have sufficient revenue to do so unless it utilizes its reserve funds.  On the revenue side, Jennifer recommended against a rate increase for customers; she noted that water sales revenue and property tax revenue were somewhat higher than budgeted last year (based on the district’s audited financial statements) and she therefore is assuming similar numbers for the upcoming fiscal year.

    Discussion ensued as the Committee members reviewed the draft budget on a line-by-line basis.  The Committee noted the decline in health care costs as a percentage of the employee benefits costs, and also noted increases in state and County permitting costs, among other things.   The budget assumes that  repayment of the Terrace Avenue Water Main Relocation loan funding will begin next fiscal year at a cost of approximately $25,000 per year; however, in 2014, the district also will retire several loans and thereby reduce its overall debt.  The Committee asked for updated information for the next meeting about the district’s current debt schedule and various reserve accounts.   The Committee and Jennifer further discussed the planned capital improvement projects for the upcoming fiscal year, and the Committee asked Jennifer to include the replacement of the water main on Cedar as well as the tenting and re-siding of the lab building at the sewer ponds in the next draft of the budget, to be paid for from the proceeds of the district’s sale of its Pine Gulch Creek property to the National Park Service.  The Committee also reviewed the anticipated revenue figures and, in light of the fact that water sales were $125,000 in calendar year 2012, the Committee asked Jennifer to increase the water sales projections for fiscal year 2013-2014 from $110,000 in the draft budget to $120,000.   The next meeting of the Finance Committee is scheduled for March 5, 2013 at 10:00 a.m.

4.  Community Expression.


  5.  Adjournment.

    12:35 p.m.