Meeting Minutes of August 10, 2010
Chairman Starling called the meeting to order at 7:00pm. A roll call was taken and present were: Chairman Starling, Vice Chairman Burrows, Secretary/Treasurer Williamsen, District Secretary Dunn, Trustees Travelstead, Anderson, and Davis. Absent was Water Supply Operator Lada.
Visitor in attendance was Mr. Hickam, CPA.
Chairman Starling opened by giving the floor to Mr. Hickam to present the Annual Audit. Mr. Hickam began with an overview of 2009 activities and highlights. He noted operating expenses decreases v the previous year of substantial repair costs. The Board reviewed capital assets and total liabilities; and revenues v. expenses were explained in detail as well as the pie chart illustrations. Also discussed was the consolidation of Reserve Account to meet, yet not exceed requirements of the Bond Agreement. Mr. Hickam recommended that the currently monthly allowance to the Debt Service Account to fund the annual bond payment and interest charges be reduced from $1,200 to $1,000 per month. After completing his presentation of the audit, questions were addressed by Board members.
The meeting continued by reviewing the minutes of the July 2010 meeting. A motion was made by Mrs. Davis to accept the minutes as presented. Seconded by Vice Chairman Burrow and with 4 yes and 0 no votes, the minutes were approved.
Next addressed was the letter of resignation from BPWD Board of Trustees from Wally Earll.
Correspondence from LD Bush Construction was presented related to a revised schedule of hourly rates effective August 1, 2010. Further discussion related to contracted services was tabled for a future meeting.
A contract for the Comfort Club offering bi-annual clean and check services for heating and air conditioning by Webb’s Heating & Cooling was presented and discussed. A motion was made by Mrs. Davis to enter into contract with Webb’s Comfort Club at the annual rate of $180; seconded by Vice Chairman Burrow and with 4 yes and 0 no votes, the motion carried.
There was no old business available for discussion at this time.
The status of the billing dispute with South Highway Water District was briefly discussed with no action taken at this time.
Financials for June 2010 were presented with brief related discussion.
Edward Jones Investment Report for July 2010 was presented and reviewed. The Secretary/Treasurer Report and the Accounts Payable Report were presented by the District Secretary. After discussing Mr. Hickam’s recommendation to define funds for Reserve and Depreciation, a motion was made by Mrs. Davis to close both the Reserve and Depreciation savings account at Old National Bank, transfer those balances to the Fund Account, and cut a check payable to Edward Jones for the total amount to establish the new investment as outline in the Bond Agreement. Seconded by Vice Chairman Burrow and with 4 yes and 0 no votes, the motion carried.
The Water Supply Operator Report was reviewed by Board Members in the absence of Mr. Lada with no discrepancies.
No additional public comments or questions.
There was no move for an executive session.
There being no further business, A motion was made to adjourn. A voice count was taken and with 4 yes and 0 no votes, the meeting adjourned.