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Finance Committee Meeting Minutes – Wednesday, March 18, 2020

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, March 18, 2020 at 3:00 p.m. in the Commission Meeting Room.

Finance Committee Minutes 3-18-20 with Attachments

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

Brunswick-Glynn County Joint Water & Sewer Commission

1703 Gloucester Street, Brunswick, GA 31520

Commission Meeting Room

Wednesday, March 18, 2020 at 3:00 PM 

FINANCE COMMITTEE MINUTES

MEMBERS PRESENT:        

Bob Duncan, Committee Chairman

Donald Elliott, Commissioner

Andrew Burroughs, Executive Director                                           

ALSO PRESENT:                 

Ben Turnipseed, Commission Chairman

Charles Cook, Commissioner

John Donaghy, Chief Financial Officer

LaDonnah Roberts, Senior Financial Analyst

 Janice Meridith, Executive Commission Admin. 

ABSENT:                               

Tripp Stephens, Commissioner 

MEDIA PRESENT:               

None Present

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

PUBLIC COMMENT PERIOD

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

APPROVAL

  1. Minutes from the February 19, 2020 Finance Committee Meeting

Commissioner Elliott made a motion seconded by Commissioner Duncan to approve the minutes from the February 19, 2020 Finance Committee Meeting.  Motion carried 2-0-1. (Commissioner Stephens was absent from the meeting.) 

  1. Water Meter RFP Award – A. Burroughs

Mr. Burroughs had presented the information, discussion and staff recommendation for the Water Meter RFP Award just earlier in the Facilities Committee Meeting held at 1:00 p.m.  The same audience of Commissioners were present at this Finance Committee Meeting, therefore a second presentation was not necessary at the time and there were no further questions or discussions required.

Commissioner Elliott made a motion seconded by Commissioner Duncan to move that the Finance Committee recommend that the full Commission review and approve authorization of the Executive Director to move forward in negotiations with Delta Municipal Supply Company for AMI and MDMS products and services for a five-year program integration to serve the meter reading needs of the JWSC.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.) 

  1. Fiscal Year 2020 Budget – A. Burroughs

Mr. Burroughs presented the Proposed Annual Budget for Fiscal Year 2021 to the Finance Committee.  He noted that this balanced budget supports the goals of the Commission, maintains customer affordability, and will further the five key strategic areas identified in the 2019 Strategic Business Plan.  Within the presentation Mr. Burroughs provided the Fiscal Year 2021 Budget goals and highlights; gave an overview of where the FY 2021 projected revenues will come from; discussed the FY 2021 expenses by expense type as well as the expenses by division; and also detailed where the expected increases and decreases in expenses will be.  Mr. Burroughs’ final two comments were that the Rate Resolution will be presented separately, and most importantly that the Rates will not change.

Commissioner Elliott made a motion seconded by Commissioner Duncan to move to accept the Budget of Fiscal Year 2021 and forward to the full Commission for approval.  Motion carried 2-0-1.  (Commissioner Stephens was absent from the meeting.) 

DISCUSSION

  1. Financial Statements Month End February 29, 2020 – J. Donaghy

Mr. Donaghy reviewed the financial statements for the month ending February 29, 2020 with the Committee and advised that this report contains the first 8 months of the current fiscal year.  First he noted the Balance Sheet and that Commissioner Elliott had previously requested a Pro-Forma of the fixed assets and depreciation at year end, due to the mechanism that was used at that time to record them.  The Finance staff has since changed some of the mechanics in the accounting system so that those assets are now being capitalized on a monthly basis and depreciated on a monthly basis.  Mr. Donaghy advised that the senior accountant will be doing those monthly reconciliations, and added that Mrs. Roberts and he will be reviewing them which will be an enhancement to the internal controls.   The Combined Revenue Statement was then reviewed as well as the Project Financial Report.

There being no further business, Chairman Duncan adjourned the meeting at 3:28 p.m.