Tuesday, November 27, 2012
Closed Board of Directors Meeting
San Bernardino Community College District
114 S. Del Rosa Drive
San Bernardino, CA 92408
Present: Don Averill, Deborah Barmack, Carole Beswick, Tom Brickley, Ann Bryan, Ken Coate, Bill Easley, Ray Gonzalez, Richard Hart, Mark Kaenel, Lowell King, Temetry Lindsey, Neil Macready, Lou Monville, Bev Powell, John Prentice, Kristine Scott, Larry Sharp, Paul Shimoff, Carlos Valdez, Phil Waller, Stan Weisser and A.J. Wilson.
Guests: Mayor Pat Morris
Announcements: 1) The Inland Action closed board of directors meeting on December 4, 2012 will be held at the IVDA offices located at 1601 E. Third Street. Committees should plan to work on federal legislative priorities. 2) The annual trip to Washington, D.C. is planned for March 17-21, 2013. Attendees should plan on traveling on Sunday, March 17, 2013. Meetings with agencies and staff will be planned for Monday and meetings with legislators will be scheduled for Tuesday, Wednesday and Thursday. 3) The Monday Morning Group has invited Inland Action to a joint meeting on January 16, 2013 to discuss legislative issues.
M/S/P: Minutes from November 20, 2012
Larry Sharp reported that the San Bernardino City Council voted 5-2 last night to approve the pendency plan that is required by the court to approve the city’s bankruptcy filing and guide their spending during bankruptcy.
The plan cuts $26million and defers nearle $35 million in payments. The deferrals section of the plan comes in five parts:
- $15 million in reimbursements to other city funds that have been borrowed from, with reimbursement “addressed in future years”
- $12.9 million in payments to the California Public Employee Retirement System. The city plans to continue paying the employee withholding portion, resume payments in 2013-14 and pay the rest at a date to be negotiated with CalPERS
- $3.5 million owed to employees for paid time off, which has been suspended
- $3.4 million in deferred pension bond payments
- Reamortize CalPERS liability – meaning that those obligations are paid over 30 years
Without further cuts, the money for those deferred payments would have to come from future revenue. CalPERS, which is the city’s largest creditor at $143 million, has opposed deferred payments to the pension system.
The city plans to incorporate the pendency plan into a court filing due Friday in bankruptcy court. Creditors then have until Dec. 14 to respond. The parties are due to appear in court Dec. 21.
Meeting adjourned 8:39 a.m.