May 19, 2026Board meeting
Finance & Administration Committee Summary Minutes
The committee held an annual review of the District's financial policies, including the Procurement Policy, Reserve Fund Policy, and the Investment Policy, with proposed updates to the Investment Policy to align with California Government Code. The committee also reviewed the income statement for Fiscal Year 2025/26, noting impacts from GASB 103, as well as an alternative metric for analyzing the change in net position relative to total assets. Additionally, the committee discussed the budget report through April 2026, highlighting water revenue trends, facility connection charges, and administrative expenses.