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Finance Committee Meeting Minutes – Wednesday, February 16, 2022

Written by Janice Meridith on . Posted in Finance Committee Minutes.

For your consideration, please read the minutes from the Finance Committee Meeting held on Wednesday, February 16, 2022 at 3:00 p.m. in the Commission Meeting Room.

Finance Meeting Minutes 2-16-22 with Attachments

To read the minutes, please open or download the pdf from the link above, or you may see more below.

Brunswick-Glynn Joint Water & Sewer Commission

1703 Gloucester Street, Brunswick, GA 31520

Commission Meeting Room

Wednesday, February 16, 2022 at 3:00 PM 

FINANCE COMMITTEE MINUTES

MEMBERS PRESENT:         

Bob Duncan, Committee Chairman

Charles Cook, Commissioner

Andrew Burroughs, Executive Director

ALSO PRESENT:                  

Ben Turnipseed, Commission Chairman                   

LaDonnah Roberts, Deputy Executive Director

Frances Wilson, Accounting Manager

Janice Meridith, Executive Commission Administrator 

ABSENT:                               

Tripp Stephens, Commissioner

 Committee Chairman Duncan called the meeting to order at 3:00 PM.  

PUBLIC COMMENT PERIOD

Chairman Duncan opened the Public Comment Period.

There being no citizens that wished to address the Committee, Committee Chairman Duncan closed the Public Comment Period.

APPOINTMENT

Commissioner Duncan appointed Chairman Turnipseed to serve the Finance Committee as third voting member as Commissioner Stephens was absent for the meeting.

APPROVAL

  1. Minutes from the January 19, 2022 Finance Committee Meeting

Commissioner Cook made a motion seconded by Chairman Turnipseed to approve the minutes from the January 19, 2022 Finance Committee Meeting.  Motion carried 3-0-0. 

  1. Budget Adjustment – Project #702 – A. Burroughs

Mr. Burroughs recalled for the committee that Project Numbers 702 and 703 were funded via SPLOST 2016 revenues from Glynn County. The JWSC allocation for SPLOST 2016 was $15,000,000 with $11,700,000 allocated to Project No. 702 and $3,300,000 allocated to Project No. 703.  The final construction and engineering cost for Project No. 703 was $2,289,840.82.  This leaves $1,010,159.18 in unspent SPLOST 2016 funds in that project budget.  Current project expenses and remaining encumbrances for Project No. 702 total $13,327,627.38, or $1,627,627.38 over the original SPLOST budget for this project.  The overages are currently scheduled to be paid from JWSC Capital Improvement Fees. Remaining funds from SPLOST projects may be reallocated following completion of projects to complete remaining SPLOST projects.  Staff wishes to reallocate the remaining $1,010,159.18 from Project No. 703 into the SPLOST project budget for Project No. 702.  This would change the allocated SPLOST amount for this project to $12,710,159.18.  Project costs for Project No. 702 will still exceed the SPLOST allocation even if this budget money is moved, but the amount of Capital Improvement Fees required to cover the exceedances would be lessened.

Commissioner Cook made a motion seconded by Chairman Turnipseed to move that the Finance Committee recommend the full Commission approve the reallocation of remaining SPLOST 2016 funds from Project No. 703 in the amount of $1,010,159.18 to Project No. 702.  Motion carried 3-0-0.

  1. Change Order #2 – PS 4116 Final Balancing – A. Burroughs

Mr. Burroughs presented Change Order #2 request from Southern Civil, LLC contractor for JWSC Capital Project #2027.  He noted that this change order was presented earlier to the Facilities Committee and is for the final adjustments on the PS4116 Rehabilitation & Force Main Upgrade Project.  The final payment and project closeout details were provided for the committee to review.  This change order shall constitute the full and final settlement of this contract for Capital Project #2027.  Additionally noted was that the deduct amount of $15,750.00 is due to the contractor not using bypass pumping which was included in the original contract.

Commissioner Cook made a motion seconded by Chairman Turnipseed to move that the Brunswick-Glynn Joint Water & Sewer Commission Finance Committee forward the above described Change Order #2 to the full Commission for approval.  Motion carried 3-0-0.

  1. Change Order #1 – Bergen Woods Offsite Final Balancing – A. Burroughs

Mr. Burroughs presented Change Order #1 request from Georgia Asphalt Producers, Inc. contractor for JWSC Capital Project #2007.  He noted that this change order was presented earlier to the Facilities Committee and is for the final adjustments on the Bergen Woods Off-Site Improvements Project.  The final payment and project closeout details were provided for the committee to review.  This change order shall constitute the full and final settlement of this contract for Capital Project #2007.

Commissioner Cook made a motion seconded by Chairman Turnipseed to move that the Brunswick-Glynn Joint Water & Sewer Commission Finance Committee forward the above described Change Order #1 to the full Commission for approval.  Motion carried 3-0-0.

DISCUSSION

  1. Financial Statement Month End January 31, 2022 – F. Wilson

Mrs. Wilson presented the financial statement for the month ending January 31, 2022.   She reviewed the Balance Sheet with the Committee, and highlighted current assets such as Cash and Cash Equivalents, as well as JWSC Reserves.  She also noted details on the Summary of Revenues and Summary of Expenses.  Mrs. Wilson also briefly reviewed line items on the Cash Balances and the Project Report.

Committee Chairman Duncan asked if there were any other items to discuss.

There being no further business, Chairman Duncan adjourned the meeting at 3:20 p.m.