Finance, Budget, and Audit Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, September 19, 2012 1:00 p.m.

Agenda

Call to Order

Directors

Gloria Molina, Chair
Mel Wilson, Vice Chair
Diane DuBois
Richard Katz
Pam O’Connor
Michael Miles, non-voting member

Officers

Arthur T. Leahy, Chief Executive Officer
Michele Jackson, Board Secretary
Karen Gorman, Ethics Officer
Karen Gorman, Acting Inspector General County Counsel, General Counsel

5. RECEIVE report from the Chief Financial Services Officer. (HANDOUT)

6. RECEIVE report of the Chief Executive Officer.

7. RECEIVE oral Federal/State Affairs update.

8. APPROVE revisions to the Metro Transit Project Contingency Policy.

(ALSO ON CONSTRUCTION COMMITTEE

9. RECEIVE oral report on Project Budget and Schedule Status. (HANDOUT)

(ALSO ON CONSTRUCTION COMMITTEE)

10. CONSIDER:

1. approving the transit projects shown in Attachment A of the board report for a Letter of Interest request for loans in the amount of up to $3.3 B to the United States Department of Transportation for a Transportation Infrastructure Finance and Innovation Act (TIFIA) Master Credit Agreement (MCA); and
2. deferring the San Fernando Valley I-405 Corridor Connection and West Santa Ana Branch Corridor from the initial MCA request because current project development schedules indicate that they cannot meet a three-year deadline to close a project-specific TIFIA loan.

11. AUTHORIZE the Chief Executive Officer to award a one-year firm fixed price Contract No. PS4430-2886 to Moore & Associate, Inc. to conduct the fiscal year (FY) 2010 - 2012 independent performance review of all Los Angeles County transit operators receiving state Transportation Development Act (TDA) Article 4, and operators receiving Proposition A funds in lieu of TDA Funds and Metro as the Regional Transportation Planning Entity, for the fixed price of $531,906.

(CARRIED OVER FROM JULY FINANCE, BUDGET AND AUDIT COMMITTEE)

12. AUTHORIZE the Chief Executive Officer to renew group insurance policies covering Non-Contract, AFSCME, and Expo employees for the one-year period beginning January 1, 2013.

13. RECEIVE AND FILE the year-end report of Management Audit Services for the period ending June 30, 2012.

14. RECEIVE AND FILE report on budget themes and performance metrics.
(HANDOUT)
(ALSO ON SYSTEM SAFETY AND OPERATIONS COMMITTEE)

15. RECEIVE AND FILE report on debt policy.   

Consideration of items not on the posted agenda, including: items to be presented and (if requested) referred to staff; items to be placed on the agenda for action at a future meeting of the Committee or Board; and/or items requiring immediate action because of an emergency situation or where the need to take immediate action came to the attention of the Committee subsequent to the posting of the agenda.

COMMENTS FROM THE PUBLIC ON ITEMS OF PUBLIC INTEREST WITHIN COMMITTEE’S SUBJECT MATTER JURISDICTION

ADJOURNMENT