Bolinas Community Public Utility
A Meeting of the Finance Committee
Of The Board Of Directors
May 7, 2013 270 Elm Road, Bolinas
1. Call to Order.
Directors Amoroso and Kimball present; General Manager
Jennifer Blackman also present.
3. Revised Balance of Proceeds from District’s Sale of its Pine Gulch
Creek Property to the National Park Service.
The Committee reviewed changes made by staff (per the
instruction of the Board at the April regular meeting) to the accounting
spreadsheet prepared last year to document expenditures to-date from the
proceeds from the district’s sale of its Pine Gulch Creek property to the
National Park Service. Discussion ensued and the Committee directed
staff to allocate the $128,764 currently in the “capital projects” column
to the district’s designated funds at the County of Marin as follows:
$100,000 to the water designated fund and $28,764 to the sewer designated
fund. This allocation will bring the total balance in the sewer designated
fund to approximately $150,000, which is 50% of the annual operating
budget for the sewer system. The water designated fund balance will
be approximately $272,500, which is not yet 50% of the annual operating budget
for the water system. The Committee noted the need to further replenish
this fund over the next few years. The Committee asked staff
to include an item on the full Board’s regular May meeting agenda to review
and approve the updated spreadsheet.
4. Draft Fiscal Year 2013-14 Budget.
The Committee reviewed a revised draft budget, which incorporates
the changes discussed at the last Finance Committee meeting and the April
Board of Directors meeting; a small shortfall of $2,186 remains in the sewer
budget. Discussion ensued and the Committee directed staff to carry
forward $2,186 in revenue from this fiscal year’s “plant” budget in the sewer
class to balance the budget, as plant expenditures for the sewer system are
running below budget so far this year.
5. Community Expression.