Finance Committee Minutes – Wednesday, September 15, 2021

For your consideration, please read the minutes from the Finance Committee Meeting held on Wednesday, September 15, 2021 at 3:00 p.m. in the Commission Meeting Room.

Finance Mins 9-15-21 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, September 15, 2021 at 3:00 PM 

FINANCE COMMITTEE MINUTES

MEMBERS PRESENT:         

Bob Duncan, Committee Chairman

Charles Cook, Commissioner

Tripp Stephens, Commissioner

Andrew Burroughs, Executive Director

ALSO PRESENT:                  

Ben Turnipseed, Commission Chairman

LaDonnah Roberts, Deputy Executive Director

Frances Wilson, Accounting Manager

Janice Meridith, Executive Commission Admin.

MEDIA:                                 

None Present

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.

APPROVAL

1. Minutes from the August 18, 2021 Finance Committee Meeting

Commissioner Cook made a motion seconded by Commissioner Duncan to approve the minutes from the August 18, 2021 Finance Committee Meeting.  Motion carried 2-0-1.  (Commissioner Stephens abstained due to having been absent from that meeting.) 

2. Contract Award – Sea Palms West CIPP – A. Burroughs

Mr. Burroughs advised that this item had been discussed and recommended earlier by the Facilities Committee to be forwarded to the full Commission for approval, and provided the same details for this Committee’s consideration.  The Sea Palms West CIPP Rehabilitation project calls for repair of sanitary sewer conveyance line segments in the Sea Palms West neighborhood of the St. Simons Island service district via Cured-In-Place-Pipe (CIPP) rehabilitation.  The overall scope of the project includes 6,733 linear feet of 8 inch, 10 inch, and 12 inch ductile iron and truss piping.  Mr. Burroughs noted that one segment of the ductile iron piping collapsed in 2018 near Pump Station 2032, and due to this line’s proximity to existing structures in Sea Palms West, the line repairs were very difficult and took almost 8 months to complete.  In response to the August 6, 2021 IFB, 6 bids were received on September 9, 2021.  The official bid tabulation indicated that the apparent low bidder was Advanced Plumbing Technology in the amount of $223,745.34.  Due to Advanced Plumbing Technology’s bid being substantially lower than the other bids received and JWSC staff not being familiar with their workmanship, staff requested additional reference projects determine qualifications to complete this CIPP project as expected.  Based on the submitted projects, the largest municipal sanitary sewer CIPP project completed consisted of 2,900 linear feet of 8 inch and 12 inch gravity sewer CIPP.  Mr. Burroughs added that the company has completed larger storm sewer CIPP projects and appears to have extensive history with residential plumbing CIPP repairs.  After careful consideration of the previous work experience, JWSC staff was concerned about this apparent low bidder successfully completing a job of this size and expected complexity.  As a result, staff recommended award of a contract to the second low bidder Insituform Technologies, LLC in the amount of $309,698.20 with a contract time for this project being 150 calendar days.

Commissioner Cook made a motion seconded by Commissioner Stephens to move that the Finance Committee recommend the full Commission award a contract for Sea Palms West CIPP Rehabilitation to Insituform Technologies, LLC in the amount of $309,698.20.

After a thorough discussion of bid details and vetting of the information provided, the Committee was ready to vote on what was determined to be the lowest responsive and responsible bid.

Motion carried 3-0-0.

DISCUSSION

1. Series 2021 Bond Issuance Update – L. Roberts

Mrs. Roberts provided the Finance Committee with a presentation/update on the BGJWSC Series 2021 Bond Issuance.  The update began with a review of the background and reasons that BGJWSC desired to enter into the bond issuance. The funding is to serve as a replacement for the $15M requested from the failed 2021 SPLOST Referendum and to be used for specific infrastructure needs.  Mrs. Roberts also provided highlights of the activities, presentations, resolution, credit rating, bond sale and approvals required in the process. 

2. Financial Statements Month End August 31, 2021 – F. Wilson

Mrs. Wilson presented the financial statement for the month ending August 31, 2021.   She reviewed the Balance Sheet with the Committee, and highlighted current assets such as Accounts Receivable, as well as current liabilities, i.e. Customer Deposits Payable.  Mrs. Wilson also briefly reviewed line items such as operating revenues and operating expenses on the Combined Revenue Statement, Project Report, and Reserves.  Mrs. Wilson explained to the Finance Committee that this report will have some adjustments as the audit for FY2021 progresses and is completed.  During her review of the financial statement, Mrs. Wilson did note some specific accounts that have already been adjusted and others that may vary.

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

There being no further business, Chairman Duncan adjourned the meeting at 3:36 p.m.