LOS ANGELES COMMUNITY COLLEGE DISTRICT
BOARD OF TRUSTEES
BUDGET AND FINANCE COMMITTEE
Los Angeles Valley College
Cafeteria Conference Room – Cafeteria Building
5800 Fulton Avenue
Valley Glen, California 91401
Wednesday, March 8, 2006
10 – 11 a.m. Committee: Kelly Candaele, Chair; Georgia Mercer Participants: Adriana Barrera, LAMC; Daphne Congdon, ESC; Deborah diCesare, LAVC; Larry Eisenberg, ESC; Jeanette Gordon, ESC; Camille Goulet, ESC; Tom Hiltabiddle, LAVC; Karen Hoefel, LAMC; Jose Leyba, LAMC; Steve Maradian, LACC; Leon Marzillier, DAS; Frances Nguyen, LAMC; Carlotta Tronto, LAVC; Joanne Waddell, LAVC; Lynn Winter Gross, ESC; Darroch Young, ESC Trustee Candaele called the meeting to order at 10:05 a.m. PUBLIC SPEAKERS None. REPORTS/RECOMMENDATIONS Fiscal Year 2006­07 State Budget Discussion Chancellor Young gave a presentation regarding the State Budget for fiscal year 2006­07 with respect to COLA, growth funds, equalization funds, cost recovery efforts, and the District’s declining enrollment. Proposed Project Labor Agreement (PLA) Revisions Mr. Larry Eisenberg distributed copies of a document regarding core employees. He indicated that a core employee is someone who works for a contractor on a regular basis. He discussed the revisions to the PLA with respect to the core workforce. He indicated that the PLA revisions will be presented to the Board for formal action at a later date. Update on GASB45 Chancellor Young presented an update regarding GASB45. He indicated that the District has completed the actuarial study that is required under the provisions of GASB45. The District’s accrued liability for retiree health benefits is $623.2 million. The District’s annual unrestricted operating budget is $500 million. The current expenditure for retiree health benefits is approximately $26 million. To date, the District has committed its Medicare refund money to this effort at the rate of approximately $1 million per year. New Business Trustee Mercer requested that update reports regarding the status of the Foundations be provided to the Board. Ms. Daphne Congdon indicated that a joint meeting of all the Foundations will be held on a biannual basis. Reports will be provided to the Board after each of these meetings. ADJOURNMENT Motion by Trustee Mercer, seconded by Trustee Candaele, to adjourn. APPROVED: 2 Ayes The meeting adjourned at 11:05 a.m.
Budget and Finance Committee 1 March 8, 2006