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March 1, 2012 <br />Page 2 <br />B. Approval of Warrants, Exhibit A <br />Accounts Payable Check Registers Total $815,360.05 <br />Payroll Total $408,799.97 <br />It was moved by Holt, seconded by Jones, and carried "to approve the Consent <br />Calendar as presented. <br />7. DEFERRED MATTERS <br />None <br />8. ITEMS FOR DISCUSSION <br />A. Study Session on Other Post -Employment Benefits (OPES) <br />Lewanda led a discussion regarding the resources set aside for OPEB and the benefits of <br />moving the money to a trust. Topics included risk factors, interest rates, <br />irrevocable/revocable trusts, flexibility in investing the money, other investment options, <br />control of the money, attrition due to governmental actions, and adhering to our investment <br />policy. Directors Gibson, Jacobsen and Jones voiced concerns about moving District <br />funds to an irrevocable trust. <br />9. NEW ITEMS <br />A. Annual Audit Report <br />Lewanda presented a summary of the financial report. Discussion ensued including <br />instituting a policy to reconcile outstanding checks, GASB 54, the health of the various <br />funds, and capital assets. <br />It was moved by Holt, seconded by Gibson, and carried 5-0 to accept the financial <br />statements for the year ending June 30, 2011 as prepared by the accounting firm of <br />Caporicci & Larson, CPAs. <br />B. Resolution No. 030112-A Authorizing the Submittal of the Older Americans Act <br />Grant Application to Ventura County Area Agency on Aging for the Project Year <br />July 1, 2012 -- June 30, 2013 <br />Lindsey explained how the District works with the Ventura County Area Agency on Aging <br />to fund the Senior Nutrition Program at the Goebel Senior Adult Center and presented an <br />overview of the grant. Discussion points included grant coverage, the reduction of grant <br />