Finance Committee Meeting Minutes – Wednesday, April 20, 2022

For your consideration, please read the minutes from the Finance Committee Meeting held on Wednesday, April 20, 2022 at 3:00 p.m. in the Commission Meeting Room.

Finance Minutes 4-20-22 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, April 20, 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                   

Frances Wilson, Accounting Manager

Charlie Dorminy, Legal Counsel

Janice Meridith, Executive Commission Administrator

 ABSENT:                               

Tripp Stephens, Commissioner                           

Committee Chairman Duncan called the meeting to order at 3:08 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.

Committee Chairman Duncan requested a motion to defer Approval Item #4 until the next Finance Committee Meeting.

Commissioner Cook made a motion seconded by Commissioner Duncan to move to defer Approval Item #4 until the next Finance Committee Meeting.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.)

APPROVAL

1. Minutes from the March 16, 2022 Finance Committee Meeting

Commissioner Cook made a motion seconded by Commissioner Duncan to approve the minutes from the March 16, 2022 Finance Committee Meeting.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.) 

2. Fiscal Year 2023 Annual Budget – A. Burroughs

Mr. Burroughs presented the proposed Fiscal Year 2023 Annual Budget to the Finance Committee for their approval to forward it to the full Commission. The budget draft was presented to the Finance Committee for review and feedback during the Discussion portion of the Finance Committee Meeting held on March 16, 2022.  As Mr. Burroughs provided in his presentation, the four main goals of this budget proposal are to:  1.) Maintain affordability despite rising costs; 2.) Increase project funding to maintain Master Plan; 3.) Improve equipment reliability; and, 4.) Streamline operational process.  Overall highlights noted were:  1.) Water only rate adjustment requested; 2.) Repair & Replacement Reserve funding increase; 3.) Increased capital costs to improve equipment reliability; and, 4.) Budgeted overtime reduction.  Mr. Burroughs reviewed revenue projections and highlights, including the proposed rate increase of a minimal amount for water usage (water only) over 6,000 gallons which is well over the average monthly residential water usage of 4,200 gallons.  Expenses for all divisions were then reviewed along with a chart indicating the expense history for operating expenses, debt service, and R&R transfers for budget years 2019 thru 2023.  Mr. Burroughs briefly explained some of the reasons for budget increases, decreases, and highlighted a few upcoming FY2023 capital requests.

Commissioner Cook made a motion seconded by Commissioner Duncan to move that the Finance Committee recommend the full Commission take the following actions: 1.) approve submission of the Proposed Fiscal Year 2023 JWSC Budget to the City of Brunswick and to Glynn County for their review and comment, and 2.) approve the Fiscal Year 2023 JWSC Budget in the amount of $34,400,000 subject to revisions resulting from comments received from the City of Brunswick and/or Glynn County.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.)

3. Fiscal Year 2023 Capital Projects Plan – A. Burroughs

Chairman Duncan stated that the FY2023 Capital Projects Plan had been discussed and approved by the Facilities Committee to move forward to the full Commission.

Commissioner Cook made a motion seconded by Commissioner Duncan to move that the Finance Committee recommend the full Commission endorse the Fiscal Year 2023 Capital Projects Plan as presented.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.)

4. Capital Improvement Fee – Connection Assistance Policy – A. Burroughs

This item was deferred until the next Finance Committee meeting. 

5. Leak Adjustment Requests – A. Burroughs

• McDonald’s
• Travel Center of America

Mr. Burroughs advised that McDonald’s had requested a leak adjustment due to multiple leaks at their location at 4545 Altama Avenue. Jowers Plumbing Solutions LLC has repaired the leak and the usage has returned to normal levels.  Staff has reviewed this request for a leak adjustment and determined that it should be granted to the customer.

Commissioner Cook made a motion seconded by Commissioner Duncan to move that the Finance Committee recommend the full Commission approve the leak adjustment in the amount of $2,463.87 to the account of McDonald’s as presented.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.) 

Mr. Burroughs then provided that Travel Center of America had also requested a leak adjustment due to an irrigation main break at their location at 215 Dungeness Drive.  Southern Rain, Inc. has repaired the leak and usage has returned to normal levels.  Staff has reviewed this request for a leak adjustment and determined it should be granted to the customer. 

Commissioner Cook made a motion seconded by Commissioner Duncan to move that the Finance Committee recommend the full Commission approve the leak adjustment in the amount of $3,389.08 to the account of Travel Center of America as presented.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.) 

6. Equipment Purchase: Kubota 30” Cold Planer – A. Burroughs

Chairman Duncan stated that the purchase of the Kubota 30” Cold Planer had been discussed and approved by the Facilities Committee to move forward to the full Commission.

Commissioner Cook made a motion seconded by Commissioner Duncan to move that the Finance Committee recommend the full Commission approve the purchase of a Kubota 30” Cold Planer from Sapelo Equipment Co., LLC in the amount of $24,999.00.  Motion carried 3-0-0.  (Commissioner Stephens was absent from the meeting.) 

DISCUSSION

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

Mrs. Wilson presented the financial statement for the month ending March 31, 2022.   She reviewed the Balance Sheet with the Committee noting that this is a strong balance sheet.  She briefly explained the Prepaid Expense, Fixed Assets, and Unearned Revenue accounts.  She also highlighted 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, as well as providing an update on Investments.

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

There being no further business, Chairman Duncan adjourned the meeting at 3:52 p.m.