Finance Mtg Minutes 3-16-22 with Attachments<\/a><\/p>\nTo read the minutes, please open or download the pdf from the link above, or you may see more below.<\/p>\n
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Brunswick-Glynn Joint Water & Sewer Commission<\/strong><\/p>\n1703 Gloucester Street, Brunswick, GA 31520<\/strong><\/p>\nCommission Meeting Room<\/strong><\/p>\nWednesday, March 16, 2022 at 3:00 PM<\/strong>\u00a0<\/strong><\/p>\nFINANCE COMMITTEE MINUTES<\/strong><\/h2>\nMEMBERS PRESENT: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\nBob Duncan, Committee Chairman<\/strong><\/p>\nCharles Cook, Commissioner<\/strong><\/p>\nTripp Stephens, Commissioner<\/strong><\/p>\nAndrew Burroughs, Executive Director<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\nALSO PRESENT: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\nBen Turnipseed, Commission Chairman\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\nFrances Wilson, Accounting Manager<\/strong><\/p>\nCharlie Dorminy, Legal Counsel<\/strong><\/p>\n\u00a0Janice Meridith, Executive Commission Administrator<\/strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong><\/p>\n\u00a0<\/strong>Committee Chairman Duncan called the meeting to order at 3:00 PM.<\/p>\n\u00a0<\/strong>PUBLIC COMMENT PERIOD<\/strong><\/p>\nChairman Duncan opened the Public Comment Period.<\/p>\n
There being no citizens that wished to address the Committee, Committee Chairman Duncan closed the Public Comment Period.<\/p>\n
APPROVAL<\/strong><\/p>\n\n- Liability and Property Insurance Renewal<\/strong> \u2013 Fred McGinty, McGinty Gordon Associates<\/li>\n<\/ol>\n
Mr. Fred McGinty with McGinty Gordon Associates presented the liability and property insurance annual renewal to the Finance Committee for their consideration. \u00a0He recalled for the committee that JWSC was successful in avoiding increases in the previous year\u2019s renewal, and then provided that the current market is not good due to weather, other damages, fires, etc.\u00a0 A review of the insured values, policy coverages, deductibles and claims processed was conducted to make any changes that would be advantageous from either a risk or cost perspective for each category coverage.\u00a0 McGinty Gordon & Associates conducted the proposal process and received premium quotes for all coverage categories.\u00a0 After successful negotiations, the current insurers offered the best rates so no changes in insurers for the different coverages will be needed.\u00a0 The increases in each of the coverages (Liability Package, Crime, Cyber Liability, Property, and Equipment Floater) averaged an overall increase of 14.8% from last year\u2019s premiums. \u00a0Mr. McGinty suggested to the committee that JWSC consider obtaining a new replacement cost estimate either from CBIZ, used by JWSC in 2015, or another company for future negotiations on property and liability insurance coverages.\u00a0\u00a0<\/strong><\/p>\nCommissioner Cook made a motion seconded by Commissioner Stephens to move that the Finance Committee recommend that the full Commission approve insurance renewal rates for each coverage category and insurer as listed in the attached memo provided by staff.\u00a0 Motion carried 3-0-0.<\/u>\u00a0<\/strong><\/p>\n\n- Minutes from the March 16, 2022 Finance Committee Meeting<\/strong><\/li>\n<\/ol>\n
Commissioner Cook made a motion seconded by Commissioner Stephens to approve the minutes from the March 16, 2022 Finance Committee Meeting.\u00a0 Motion carried 2-0-1.\u00a0 (Commissioner Stephens abstained due to his absence from that meeting.)<\/u>\u00a0<\/strong><\/p>\n\n- Declaration of WPD-100 as Surplus Vehicle<\/strong> \u2013 A. Burroughs<\/li>\n<\/ol>\n
Mr. Burroughs presented the request by staff to declare WPD-100 as a surplus vehicle.\u00a0 This 2005 Ford Explorer has transmission issues and approximately 160,000 miles on it.\u00a0 A replacement fleet vehicle was purchased and is now in service as per the FY2022 budget.\u00a0 The surplused 2005 Ford Explorer will be placed for sale on GovDeals.<\/p>\n
Commissioner Stephens made a motion seconded by Commissioner Cook to move that the Finance Committee recommend that the Brunswick-Glynn Joint Water and Sewer Commission approve the above listed item as surplus to be disposed of in a manner most beneficial to the JWSC.\u00a0 Motion carried 3-0-0.<\/u><\/p>\n\n- Appointment of Auditor for FY2022 Audit<\/strong> \u2013 A. Burroughs<\/li>\n<\/ol>\n
Mr. Burroughs provided to the committee that the JWSC issued a request for proposal for Auditing Services and the firm of Mauldin & Jenkins was selected for the initial year ended June 30, 2021 with two option years.\u00a0 The fiscal year ending June 30, 2023 is the final option year.\u00a0 The quoted cost for each of these three years is $19,900.00 per year.<\/p>\n
Commissioner Stephens made a motion seconded by Commissioner Cook to move that the Finance Committee recommend to the full Commission that JWSC engage the accounting firm of Mauldin & Jenkins to perform the financial audit of the Brunswick-Glynn Joint Water and Sewer Commission for the fiscal year ending June 30, 2022 at a cost of nineteen thousand nine hundred ($19,900.00) dollars.\u00a0 Motion carried 3-0-0.<\/u><\/p>\n\n- Capital Improvement Fee \u2013 Connection Assistance Policy<\/strong> \u2013 A. Burroughs<\/li>\n<\/ol>\n
Mr. Burroughs presented staff\u2019s recommendation to approve a Connection Assistance Policy to the committee.\u00a0 He explained that the purpose of this policy is to assist potential customers with affordability of connecting to the public water and\/ or sewer systems.\u00a0 This assistance would be available to residents and businesses with existing structures that have failing private wells and\/or septic systems.\u00a0 Mr. Burroughs noted that JWSC would like to allow these existing homes and businesses to connect to the system without placing a cash outlay that would be burdensome to the customer base.\u00a0 The JWSC would allow customers to pay monthly installments towards the total cost of the Capital Improvement Fee and operational fees associated with new accounts.\u00a0 Financing charges increase as the years financed increases to offset increased administrative costs associated with maintaining these agreements.\u00a0 If approved, this Connection Assistance Policy would ideally become part of the annual Rate Resolution and reviewed annually for current market conditions.\u00a0 While financing through JWSC, a lien is also placed on the property, and the monthly payments are included in the water and sewer bill.\u00a0 The customer does still have to pay a contractor to run lines to the home\/building, pay the required new account deposit, and pay any other associated fees.\u00a0 The committee discussed various concerns such as limiting the terms of the loans, interest rates, researching other options, and the full impact on JWSC.\u00a0 The committee decided to defer this item until the April 2022 meeting.<\/p>\n
Commissioner Duncan made a motion seconded by Commissioner Stephens to defer this item until the April meeting.\u00a0 Motion carried 3-0-0.<\/u><\/p>\n
DISCUSSION<\/strong><\/p>\n\n- Presentation \u2013 DRAFT of Fiscal Year 2023 Annual Budget<\/strong> \u2013 A. Burroughs<\/li>\n<\/ol>\n
Mr. Burroughs gave a thorough presentation on the Proposed Fiscal Year 2023 Annual Budget.\u00a0 He provided visuals on the monitors as well as the detailed draft of the budgeted revenues and expenses for each line item within each division.\u00a0 It was noted that this balanced budget supports the goals of the Commission and maintains customer affordability.\u00a0 Mr. Burroughs added that the proposed budget is an increase in expenses from the previous year which is mainly due to increased material costs across the board.\u00a0 As a result, this year\u2019s proposed annual budget will include a water usage rate adjustment to be presented at the April meeting based upon feedback from this presentation.\u00a0 The current plan is to only increase the usage rates on the blocks of usage above 6,000 gallons per month.\u00a0 Mr. Burroughs highlighted the budget process, and then provided that the Budget Team worked diligently in preparation of this proposed budget that will further the five key strategic areas identified in the 2019 Strategic Business Plan.\u00a0 Those five areas are:<\/p>\n
\n- Environmental Compliance<\/li>\n
- Responsible Decision Making<\/li>\n
- Being a Community Resource<\/li>\n
- Workforce Development<\/li>\n
- Customer Service<\/li>\n<\/ol>\n
2.\u00a0 Financial Statement Month End February 28, 2022 <\/strong>\u2013 F. Wilson<\/span><\/p>\nMrs. Wilson presented the financial statement for the month ending February 28, 2022.\u00a0\u00a0 She reviewed the Balance Sheet with the Committee noting that this is a strong balance sheet.\u00a0 She briefly explained the Prepaid Expense, Fixed Assets, and Unearned Revenue accounts.\u00a0 She also highlighted details on the Summary of Revenues and Summary of Expenses.\u00a0 Mrs. Wilson also briefly reviewed line items on the Cash Balances and the Project Report, as well as providing an update on Investments.<\/p>\n
Committee Chairman Duncan asked if there were any other items to discuss.<\/p>\n
There being no further business, Chairman Duncan adjourned the meeting at 4:31p.m.<\/p>\n","protected":false},"excerpt":{"rendered":"
For your consideration, please read the minutes from the Finance Committee Meeting held on Wednesday, March 16, 2022 at 3:00 p.m. in the Commission Meeting Room. Finance Mtg Minutes 3-16-22 with Attachments To read the minutes, please open or download the pdf from the link above, or you may see more below.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[18],"tags":[],"class_list":["post-32984","post","type-post","status-publish","format-standard","hentry","category-finance-committee-minutes"],"_links":{"self":[{"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=\/wp\/v2\/posts\/32984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32984"}],"version-history":[{"count":0,"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=\/wp\/v2\/posts\/32984\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.goldenisleslepc.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}