Resolution Number CVWD 92-8-4-1If
RESOLUTION 92-8-4-1
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE CAPISTRANO VALLEY WATER DISTRICT
AUTHORIZING INVESTMENT OF MONIES WITH THE
COUNTY OF ORANGE'S TREASURER
WHEREAS, Section 53684 was added to the California Government Code
allowing local agencies to deposit excess funds into the Orange County Treasury for
purposes of investment by the Orange County Treasurer; and
WHEREAS, the Board of Directors does hereby find that the deposit and
withdrawal of money with the Orange County Treasurer Investment Pool in
accordance with the provisions of investment as stated therein are in the best
interests of the Capistrano Valley Water District.
NOW, THEREFORE, BE IT RESOLVED that the Capistrano Valley Water District
Board of Directors does hereby authorize amendment to the Investment Policy to
authorize the deposit and withdraw of Capistrano Valley Water District monies with
the County Treasury in the County of Orange Investment Pool in accordance with the
provisions of Section 53684 of the Government Code for the purpose of investment
as stated therein.
BE IT FURTHER RESOLVED that the following Capistrano Valley Water District
officers or their successors in office shall be authorized to order the deposit or
withdraw of monies in the County Treasury.
Name and Title of Authorized Officers
Ray Auerbach, General Manager
Robert R. Clark, District Engineer
James R. Widner, Administrative
Services Manager G�
Conrad V. David, Accounting Officer
PASSED, APPROVED AND ADOPTED this 4tday of August, 1992, by the
following vote:
AYES: Chairman Jones, Directors Harris and Hausdorfer-:;�
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NOES: None
ABSENT: Directors Friess and Vasquez
i 'GIL-JONlEt, CHAIRMAN
ATT ST:
Jerk of the Board
92.8.4.1
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RESOLUTION 92-8-4-1
CERTIFICATE
State of California )
) ss.
County of Orange )
I, Clerk of the Board of Directors for the Capistrano Valley Water District, do
hereby certify and declare that the above and foregoing Resolution was duly adopted
by the unanimous vote of the Board of Directors present and voting at a regular
meeting thereof held on the 4th day of August, 1992, at the hour of 6:30 PM.
CERTIFIC.MST
Clerk of the Board
CAPISTRANO VALLEY WATER DISTRICT
CAPISTRANO VALLEY WATER DISTRICT
STATEMENT OF INVESTMENT POLICY Policy No. 4-89
PURPOSE
This statement is intended to provide guidelines for the prudent investment of the
District's temporary idle cash, and to outline the policies for maximizing the efficiency
of the District's cash management system. The ultimate goal is to enhance the
economic status of the District while protecting its pooled cash.
OBJECTIVE
The District's cash management system is designed to accurately monitor and
forecast expenditures and revenue thus enabling the District to invest funds to the
fullest extent possible. The District attempts to obtain the highest yield obtainable
with investments that meet the criteria established for safety and liquidity.
POLICY
The District operates its temporary pooled idle cash investment under the "Prudent
Man Rule" (Civil Code Section 2261). Investments are further restricted to those
allowed under current legislation of the State of California (Government Code Section
53600 et.seq). Investments may be made in the following media:
1. Local Agency Investment Fund of the California State Treasury.
2. Certificates of Deposit/Time Deposits placed with insured banks or
savings and loan companies.
3. Passbook savings accounts.
4. Securities of the U.S. Government or its agencies.
5. Orange County Treasurer's Investment Pool.
Criteria for selecting investments and the order of priority are:
1. Safety. The District will use only those investments that are considered
very safe.
2. Liquidity. It is important to have the ability to "cash in" the investment
should a need arise for unexpected funds.
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3. Yield. The rate of return from the various investments will be monitored
periodically to obtain best yield.
SAFE KEEPING
All investment documents will be held by the District or maintained under District
control.
DISTRICT CONSTRAINTS
The investment policy is administrated by the Administrative Services Manager and
the Accounting Officer. They are expected to keep all idle funds invested by using
both daily and long-range cash flow projections.
ADOPTED: November, 1989
AMENDED: August 4, 1992
POLICY4.89
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AGENDA ITEM August 4, 1992
TO: Honorable Board of Directors
FROM: Ray A. Auerbach, General Manager
SUBJECT: Resolution Authorizing Investment of Monies with County Treasurer
and Statement of Investment Policy
SITUATION
In accordance with California Government Code Section 53646, attached is the
required annual submittal of the District's Investment Policy. The policy was amended
to permit, but not require, funds for investments be placed with the Orange County
Treasurer Investment Pool. This pool is used by the County and many local
government agencies, including water districts.
In addition, a resolution has been prepared to authorize investment in the Orange
County Treasurer Investment Pool.
FINANCIAL CONSIDERATIONS
None.
ALTERNATE ACTION
1. a. Receive and file the annual Statement of Investment Policy.
b. Adopt Resolution No. 92-8-4-1 authorizing District officers to
order the deposit or withdraw of monies in the County Treasury.
2. Request additional information from staff.
RECOMMENDATION
By motion, receive and file the annual Statement of Investment Policy and adopt
Resolution No. 92-8-4-1 authorizing District officers to order the deposit or withdrawal
of monies in the County Treasury.
Respectfully submitted,
RaAAAuerbach
General Manager TREASURY.ITM
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AGENDA ITEM November 17, 1992
TO: Honorable Board of Directors
FROM: Ray A. Auerbach, General Manager
SUBJECT: Amendment to Personnel Classification and Compensation Plan
SITUATION
Due to the District's tiered rate structure, and water allocations based on size of lots
or landscaped areas, our customers are now much more aware of their water use
statistics, especially when they are in the penalty tiers. The need to provide additional
water conservation information and service to our customers has become apparent
as the number of questions on bills and allocations has dramatically increased. A
Water Audit service has been quite successful at other water districts and is
recommended as one of the Best Management Practices to improve water use
efficiency. Our use statistics indicate approximately 23% of our residential use is in
the second and third tiers. A larger concern is that 28% of our landscape customers'
use is in Tier Il and III. Follow-up on customer concerns will help customers reduce
their water demands through more efficient water use inside the home and more
importantly, in their irrigation practices.
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Currently, we do not have a staff member to assign to this important program. We
feel a part-time assignment would be the best approach. The general time
requirements would be approximately 60 hours per month. The District's Personnel
Classification Plan would also be amended by the addition of a part-time employee in
the Administrative area at the same pay level as a Senior Customer Service
Representative.
FINANCIAL CONSIDERATIONS
Funds were not specifically budgeted in FY 1992-93 for this item, however, adequate
funds are available from the increased revenue due to penalties assessed to users
going beyond their allocations. It is this group who will most benefit from the
assistance this position will provide, therefore, the cost of the program will be paid
by those benefiting. The cost for this recommendation is $6,000 for FY 1992-93,
and represents the hourly pay rate of $11.89 for approximately 60 hours per month,
plus payroll overhead of 15% for the rest of the year.
ALTERNATE ACTION
1. Adopt Resolution No. 92-11-17-1 adding a part-time employee to be
titled Conservation Coordinator to the Personnel Classification and
U Compensation Plan.
2. Request additional information from staff.
3. Deny the recommendation.
RECOMMENDATION
Adopt Resolution No. 92-11-17-1 adding a part-time employee to be titled
Conservation Coordinator to the Personnel Classification and Compensation Plan.
Respectfully sub 'ted,
Ray A. Auerbach
General Manager
1AGND%PCCP.ITM
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