Finance Committee Meeting of the Board of Trustees

September 2, 2025  - 5:30 PM

A PDF of the meeting agenda/packet can be found at the end of this page.

Click here to learn how to observe and participate in the committee meeting.

Agenda

1.    Call to Order

2.    Roll Call

• Ron Collins (Chair), City of San Carlos
• Muhammad Baluom, City of Millbrae
• Ray Williams, Town of Portola Valley
• Robert Riechel, City of San Bruno
• Michael Yoshida, City of South San Francisco
• Mason Brutschy, Town of Atherton
• Kati Martin, City of Half Moon Bay

3.    Public Comments and Announcements

This time is reserved for public members to address the Finance Committee of the Board relative to matters of the Committee not on the agenda. No action may be taken on non-agenda items unless authorized by law. Comments will be limited to three minutes per person (or six minutes where a translator is used).

4.    Regular Agenda

A.   review and recommend approval of the 2025 other post-employment benefit valuation report prepared by MacLeod Watts, District Actuary

• Report by: Finance Director, Richard Arrow, CPA, and Catherine MacLeod
• ACTION: Recommend the Board approve the 2025 Other Post-Employment Benefit Valuation Report.

B.    status of the construction project at 1415 North Carolan, Burlingame

• Report by: District Manager, Brian Weber
• ACTION: No action necessary, informational only.

C. Review the preliminary financial report for FY 2024-25 as of June 30, 2025 and associated budget adjustments

• Report by: Finance Director, Richard Arrow, CPA
• ACTION: Recommend the Board approve the Financial Report for FY 2024-25 as of June 30, 2025, and associated budget adjustments. 

D. Review the preliminary financial report for the FY 2025-26 as of July 31, 2025

• Report by: Finance Director, Richard Arrow, CPA
• ACTION: Recommend the Board approve the Financial Report for FY 2025-26 as of July 31, 2025

E. Discuss the impact of the special assessment imposed by the fire risk management services (FRMS) and health care coverage for District employees

• Report by: District Manager, Brian Weber and Jon Paulsen, MBA, ARM, Senior Vice President, Self-Insurance Pooling, Segwick
• ACTION: No action necessary, informational only.

F. Consider the options available to the district in response to the FRMS Health Care Special Assessment, including payment under a payment plan, early payment for a discount, litigation, settlement, and non-payment, and propose a recommendation to the Board

• Report by: District Manager, Brian Weber, and District Counsel Alexandra Barnhill
• ACTION: Recommend that the Board: (a) pay the special assessment by October 1, 2025, to take advantage of the discount option to mitigate further financial risk, (b) do so "under protest" to preserve the legal claims the District my have, and (c) provide direction on litigation or settlement options, as appropriate.

G. consider recommending that the board approve purchasing 3,000 gallons of BVA 2 larvicide oil from Azelis Solutions, not exceeding $39,000.

• Report by: District Manager, Brian Weber
• ACTION: Recommend Board approval to purchase 3,000 gallons of BVA 2 mosquito larvicide oil from Azelis for $37,469.88, with an additional $1,530.12 to cover possible delivery charge increases, for a total not to exceed $39,000.