Thursday, May 23, 2013 Board of Directors Teleconference Meeting 2:00 p.m. - 4:00 p.m. Dial-in Number: (800) 250-2600 Passcode: 197 9056 *For those participating by telephone, please mute your line when not speaking. 1) Introduction a) Welcome/Roll Call b) Additions to Agenda 2) Consent Items 2:10 p.m. a) Approval of minutes from April 25, 2013 Pauline Marx b) Financials as of April 30, 2013 3) Discussion/Action Items 2:15 p.m. a) Follow up from Annual Conference Janet Salvetti 4) Officer Reports a) President 3:00 p.m. Pauline Marx i) Update on CSMFO Reception at GFOA ii) Update on AB 279 b) Past President 3:05 p.m. Laura Nomura c) President-Elect 3:10 p.m. Pamela Arends-King d) Staff Report 3:15 p.m. Melissa Dixon 5) Board Liaison/Committee Oral Reports 3:20 p.m. a) Administration Steve Heide b) Career Development Scott Catlett c) Conference Site Selection Josh Betta d) Membership Benefits Christy Pinuelas e) Professional Standards & Recognition Ken Brown PAGE 1
Transcript
Thursday, May 23, 2013 Board of Directors Teleconference Meeting
2:00 p.m. - 4:00 p.m.
Dial-in Number: (800) 250-2600
Passcode: 197 9056
*For those participating by telephone, please mute your line when not speaking.
1) Introduction a) Welcome/Roll Call b) Additions to Agenda
2) Consent Items 2:10 p.m.
a) Approval of minutes from April 25, 2013 Pauline Marx b) Financials as of April 30, 2013
3) Discussion/Action Items 2:15 p.m.
a) Follow up from Annual Conference Janet Salvetti 4) Officer Reports
a) President 3:00 p.m. Pauline Marx i) Update on CSMFO Reception at GFOA ii) Update on AB 279
b) Past President 3:05 p.m. Laura Nomura
c) President-Elect 3:10 p.m. Pamela Arends-King
d) Staff Report 3:15 p.m. Melissa Dixon
5) Board Liaison/Committee Oral Reports 3:20 p.m. a) Administration Steve Heide b) Career Development Scott Catlett c) Conference Site Selection Josh Betta d) Membership Benefits Christy Pinuelas e) Professional Standards & Recognition Ken Brown
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f) Program Viki Copeland g) Technology Rick Teichert 6) League Policy Committee 3:50 p.m. a) Administrative Services Chu Thai b) Community Services Rick Teichert c) Employee Relations Robert Harmon
d) Environmental Quality Thom Fowler e) Housing, Community & Economic Development Stuart Schillinger f) Public Safety Deborah Lauchner g) Revenue & Taxation Bob Biery
h) Transportation, Communications & Public Works Michael Matsumoto
7) Other Items 8) Future Topics 9) Next Meeting 10) Adjournment 4:00 p.m.
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California Society of Municipal Finance Officers Board of Directors Meeting Minutes
April 25, 2013
In Attendance Pauline Marx Laura Nomura Margaret Moggia John Adams Teri Albrecht Terri Willoughby Drew Corbett Joan Michaels Aguilar Barbara Boswell Joseph Lillio Rebecca Mendenhall Jennifer Wakeman
Ken Brown Josh Betta Stephen Parker Carol Wilson Steve Heide Karan Reid Andy Green Brent Mason Scott Catlett Rick Teichert Janet Salvetti Melissa Dixon
The California Society of Municipal Finance Officers (CSMFO) Board of Directors met via conference call on April 25, 2013. The meeting convened at 2:04 p.m. President Pauline Marx confirmed a quorum was in attendance. A discussion on the Weekend Training Handbook and taking a position on AB 279 were added to the agenda. The Board addressed the consent calendar. Director Margaret Moggia moved approval of the minutes from the March meeting; Director John Adams seconded. The motion passed unanimously. Director Adams moved approval of the March financial statements; Director Moggia seconded. The motion passed unanimously. Conference Site Selection Committee Chair Josh Betta provided a report to the Board on the committee’s site selection activities and recommendations for 2015-2017 sites. After some discussion, Director Joan Michaels Aguilar moved to accept the committee’s recommendations of moving forward with contracts for Monterey in 2015 and Disneyland Hotel in 2016, while continuing negotiations with Sacramento for 2017 that would, ideally, include at least 19,000 square feet of contiguous space for the exhibit hall. Director Teri Albrecht seconded, and the motion passed unanimously. President Pauline Marx discussed with the Board the reporting necessary for CSMFO volunteers that file a Form 700 for the FPPC. It was opined that items, such as food, provided to CSMFO volunteers should be recorded as income from CSMFO on the Form 700. Executive Director Melissa Dixon will keep a record of all items paid for by CSMFO that were provided during the year to volunteers, and distribute to the volunteers no later than January 31 of the following year. Career Development Committee Chair Scott Catlett informed the Board that an agreement is in existence between CSMFO and Bill Statler to teach Fiscal Policy courses. The agreement was originally through 2012, but when the Board approved that agreement it provided the Career Development Committee with the authority to extend for up to two additional one-year terms.
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The committee exercised this authority and extended the agreement through 2013. Statler, however, has requested an increase in fees, which the committee found reasonable as said increase remains less than other current CSMFO providers. The recommendation from the committee was to increase the half-day fee from $375 to $625 and the full-day from $750 to $1,250, retroacting this change to the April 11, 2013 course executed in Agoura Hills. Director Adams move to approve the committee’s recommendation; Director Albrecht seconded. The motion passed unanimously. Administration Committee Chair Steve Heide presented to the Board a handbook to govern the Weekend Training executed each year by the Career Development Committee. The handbook was initially drafted by Executive Director Dixon, with input from the Career Development Committee and meeting planner. The Administration Committee completed its review of the draft and is recommending the Board approve and adopt the handbook. Past President Laura Nomura moved approval of the Weekend Training Handbook, and Director Moggia seconded. The motion passed unanimously. President Marx brought the Board’s attention to AB 279 (Dickinson), which remove the term “certificates of deposit” and instead authorize a local agency to invest in deposits. This bill would also exclude from public funds reporting specified deposits required under these provision. President Marx had a meeting with representatives of CDIAC, CMTA and several county investment officers, where suggested revisions were discussed. She recommended the Board adopt an “Oppose Unless Amended” position on the bill, as current language would reduce transparency and makes bank deposits subject to a 30% maximum allocation. Director Adams moved to take an “Oppose Unless Amended” position on the bill, with Director Terri Willoughby seconding. The motion passed unanimously. President Pauline Marx discussed with the Board the CSMFO reception she is planning, to be held during the GFOA conference in San Francisco in June. Historically, CSMFO has allocated $500 for this event, however President Marx would like to increase this budget for 2013, utilizing the net income from the 2013 CSMFO Annual Conference to cover the cost. Director Adams moved to increase the budget for the reception to $5,000. Director Moggia seconded and the motion passed unanimously. Past President Nomura reported that the first Chapter Chair conference call was held on April 15, with nine chapter chairs present. Career Development Committee Chair Catlett was also in attendance, and offered the assistance of his committee to the chairs. The next call will be held on June 17. Past President Nomura also reported on the 2014 Annual Conference. She is a member of the Host Committee, which met for the first time via teleconference on April 23. The committee will have to submit its budget for the conference nearly a month early this year, in conjunction with the September Planning Session. The next meeting will be held May 9. Administration Committee Chair Heide informed the Board that documenting CSMFO’s new policies on Form 700 reporting would be discussed within his committee, as well as a proposal to streamline CSMFO’s financial reporting.
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Career Development Committee Chair Catlett reported that the committee held its third webinar of the year on April 23, with 130 locations signing on. The committee is reviewing the survey results from the conference to garner ideas for new webinars later in the year. Membership Committee Vice Chair Brent Mason informed the Board that the Membership Committee had met, and has set its standing monthly meeting date and time. Professional Standards and Recognition Committee Chair Ken Brown reported that the committee is working on moving forward with electronic budget submissions. Technology Committee Chair Rick Teichert reported that the listserv moderating had been turned off due to the tapering off of inappropriate activity. He also reported that Facebook had created two pages for CSMFO, one for “CSMFO” and one for “California Society of Municipal Finance Officers,” utilizing information found on Wikipedia. In order to control the content, the Technology Committee is creating a CSMFO-owned page sooner than it had anticipated. The next meeting of the Board of Directors will be via teleconference on May 23, 2013 at 2:00 p.m. President Marx adjourned the meeting at 3:09 p.m. Respectfully submitted, Melissa Dixon Executive Director
CURRENT REVENUES OVER EXPENDITURES NET ASSETS TESTCurrent Revenues 13,952 823,280Current Expenditures 143,748 (129,795)Net Revenue over Expenditures (129,795) 693,485
693,485YEAR TO DATE REVENUES OVER EXPENDITURES 0Year to Date Revenues 809,099Year to Date Expenditures 538,792Net Revenue over Expenditures 270,307
Current Statement of Net AssetsVariance
Statement of ActivitiesBudget Variance Report
For The Months Ended April 30, 2013
Previous Month Net AssetsCurrent Revenues over ExpendituresNew Net Assets
-- RESTRICTED FOR MANAGEMENT'S USE ONLY --PAGE 7
CSMFO BOARD REPORT FROM: Teri Anticevich & Janet Salvetti, M&AMS, Inc. SUBJECT: 2013 FINAL CONFERENCE REPORT The 53rd annual CSMFO Conference, California Finance…and all that Jazz, was held February 20 -22, 2013 at the Oakland Marriott City Center in Oakland CA. The Conference was chaired by Pauline Marx, 2013 President-elect, and was co-chaired by Scott Johnson, Board member and Assistant City Administrator for the City of Oakland. Ms. Marx sought out participation on the host committee via an email invite and was successful in having the support of a host committee of 16 individuals from the public sector as well as commercial members. As evidenced by the final results, they were very successful as a host committee. The heavy work of planning informative, timely, and thought provoking sessions was once again handled by the 2013 Program Committee chaired by Viki Copeland, City of Hermosa Beach. As in all years past, their tireless expertise in choosing timely and thought provoking sessions was demonstrated by the program they planned. Their assistance was appreciated by all members of the conference committee. CONFERENCE REPORT Although CSMFO had record breaking attendance in 2012 when the conference was held in Anaheim CA, the host committee recognized that attendance is normally less when the conference is offered in Northern California. Therefore, the committee directed staff to base all projections on an attendance of 600 Government and Commercial attendees. We are pleased to report that attendance met and exceeded our expectation with a r egistration number that exceed all past conferences held in Northern California. The final registration number was 823 with an attendance number of 789. A summary of the registration numbers by type of registration as well as a comparison to the attendance for 2010-2012 is included with this report as attachment “Attendance”.
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Page 2 2013 FINAL CONFERENCE REPORT There were several changes made to the conference format at this conference. The first was in reply to exhibitor responses in the 2012 survey which indicated the commercial members would like to have more concentrated hours to exhibit and then be able to attend sessions along with other attendees. The host committee formed a subcommittee and worked several hours on c rafting alternate exhibitor hours that met the two criteria. However, survey results for this year were not favorable to the new hours and we will probably be returning to our prior format for the upcoming conference. The second change was in where on t he program the business meeting was held. In prior years, it is traditional to have this meeting during the Thursday luncheon. Due to time constraints with other conference demands, we placed the business meeting on Friday morning. Although this extended the ending time of the conference, we did not receive any negative feedback on this change and will assess the best time for this meeting as we begin our planning for next year. In addition, for the first time in several years, we offered some educational tours for attendees on Wednesday morning at a nominal cost. T he survey results indicate this was positive. We also offered for the first time a new member orientation as well as a 6th breakout room to expand session offerings. A new addition this year was also the mobile application. We feel that it met with positive reviews and plan on developing and providing a more robust version for next year. However, the success of this application is in providing a strong Wi-Fi system in the convention area. During the post conference meeting consensus was this was a c ritical component to future conferences and will need to be factored into future budgets. FINANCIAL RESULTS The financial results of the 2013 Conference are submitted as an attachment to this report. I t is a pleasure to report that to date the conference has realized a net income of $122,816.35. We are continuing to work with staff from SMA on a few outstanding invoices that will reduce this amount. However, we are confident that the net income will not decline below $120,000. This is the greatest conference revenue reported to date for CSMFO. As you review the Profit & Loss Budget vs. Actual Statement you will see in the revenue section specifically that many line items captured revenues that were not budgeted. As conferences have developed, the Chart of Accounts has expanded to meet each conference’s needs. H owever, the accuracy for reporting the proper financial information is being stressed due to the complexity of the Chart
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Page 3 FINAL CONFERENCE REPORT of Accounts on the computer system and staff. I have discussed this with the concurrence of the SMA Controller and we will be meeting in the coming month to develop a chart of accounts that more properly fits today’s requirements and will be pr esenting a r ecommended Chart of Accounts to the Board prior to budgeting for next year’s conference. A net income of this magnitude deserves a review of what made the conference so successful considering the budget was developed with the intent of realizing a net income of $2,720. I t is important to note that M&AMS feels it is our responsibility to develop a conservative revenue base and to develop estimated expenditures taking “worst case scenarios” that we may anticipate into account. Therefore, barring significant unforeseen circumstances, we believe we have met our objective when we exceed our initial estimate. The greatest part of the increase in net income comes from higher than expected attendance as well as significant support from our exhibitors and sponsors. This accounted for 83% of the increase in net income. On the expenditure side, we again stayed below our initial budget for speakers, and were conservative with our attendee items. In addition, the Thursday banquet was originally going to be contracted with the Marriott to develop; but due to the departure of their event director, was handled by our staff at a much more effective pricing. Some items did go over budget but they were mostly attributable to the increase in registration and subsequently the food budget having to increase to accommodate the higher than anticipated attendance. In addition, trying to get a firm electrical and r igging price from hotels is always a difficult task as was the case this year. We are prepared to answer any additional questions you may have regarding the budget, expenditures, and r evenues of the conference as well as any other items. SUMMARY M&AMS, Inc. considers it a pl easure to serve CSMFO as your conference coordinators. We would like to thank the Board of Directors, the Host Committee lead by Pauline Marx, and S MA for their commitment to making the 2013 conference such a success. We look forward to another successful year as we move to Palm Springs for the 2014 conference.
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05/18/13 Accrual Basis California Society of Municipal Finance Officers
Profit & Loss Budget vs. Actual July 2012 through April 2013
Jul '12 - Apr 13 Budget $ Over Budget % of Budget
Other Income/Expense
Other Income
8000 · Conference Revenue
8100 · Government Registrations
8105 · Govt Non Member-Full Reg Normal 3,220.00 8,280.00 (5,060.00) 38.89%
8106 · Govt Non Member-Full Reg - Late 3,570.00 2,550.00 1,020.00 140.0%
8108 · Govt Non Member-Daily Reg - Nor 3,185.00 2,695.00 490.00 118.18%
8109 · Govt Non Member Daily Reg - Lat 3,490.00
8110 · Govt Member-Full Reg Early 93,715.00 73,125.00 20,590.00 128.16%
8115 · Govt Member-Full Reg Normal 21,450.00 26,250.00 (4,800.00) 81.71%
8120 · Govt Member-Daily Reg Normal 2,450.00 1,925.00 525.00 127.27%
8125 · Govt Member-Daily Reg Late 2,400.00 1,000.00 1,400.00 240.0%
8150 · Govt NonMem/Mem Full Reg Onsite 1,385.00
8100 · Government Registrations - Other 0.00
Total 8100 · Government Registrations 134,865.00 115,825.00 19,040.00 116.44%
8200 · Commercial Registrations
8230 · Comm Non Member Full Reg-Normal 6,390.00 10,650.00 (4,260.00) 60.0%
8231 · Comm Non Member-Full Reg - Late 7,065.00
8235 · Comm Member Full Reg-Normal 67,165.00 48,000.00 19,165.00 139.93%
8236 · Comm Member-Full Reg - Late 5,400.00
8240 · Conference Full-Normal 0.00
8245 · Comm Member Daily Reg-Normal 1,775.00 3,750.00 (1,975.00) 47.33%
