MONTECITO WATER DISTRICT MINUTES

MONTECITO WATER DISTRICT MINUTES

BOARD BUDGET WORKSHOP

583 SAN YSIDRO ROAD, MONTECITO, CALIFORNIA

WEDNESDAY, MAY 12, 2010

9:00 A.M.

1. CALL TO ORDER, DETERMINATION OF A QUORUM

President Morgan called the meeting to order at 9:05 a.m.

Directors Present:

Samuel Frye, W. Douglas Morgan, Richard Shaikewitz, and Larry Wilson

Directors Absent:

Jan E. Abel

Staff Present:

Tom Mosby, General Manager

Toni Bailey, Business Manager

Alexis Nagle, Financial Specialist

2. PUBLIC FORUM

There were no members of the public present.

Items for Board Discussion

3. 2009/10 DISTRICT FINANCES

a. MONTHLY WATER SALES REPORT

Ms Bailey presented this report and answered Directors’ questions.

b. MONTHLY REVENUE & EXPENSE REPORT

Ms Bailey presented this report and answered Directors’ questions.

c. QUARTERLY INVESTMENT REPORT

Ms Bailey presented this report and answered Directors’ questions.

4. 2010/11 BUDGET

a. COST OF LIVING ADJUSTMENT

Ms Bailey presented this item and answered Directors’ questions.

b. 2010/11 DRAFT BUDGET

Ms Bailey presented this item and answered Directors’ questions.

5. LEGAL EXPENSE ANALYSIS

Ms Bailey presented this item and answered Directors’ questions.

6. DIRECTOR REQUESTS

There were no requests from Directors for agenda items for the regular meeting on May 18, 2010.

7. ADJOURNMENT

There being no further business to come before the Board, the meeting was adjourned at 10:45 a.m.

Approved:

_____________________________

W. Douglas Morgan, President

Attest:

__________________________________

Tom Mosby, Secretary