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Finance, Budget, and Audit Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, October 17, 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

10. RECEIVE report from the Chief Financial Services Officer.

11. RECEIVE report of the Chief Executive Officer.

12. RECEIVE oral Federal/State Affairs update.

13. APPROVE the term sheet and authorize the Chief Executive Officer to finalize and execute the implementing Pico Station Improvement Financial Agreement. [HANDOUT]

14. AUTHORIZE the Chief Executive Officer to execute the Crenshaw Light Rail Transit Project Measure R 3% Local Match Financial Contribution Agreement to facilitate the advancement of $17.8 million for the City of Inglewood’s 3% local match funding contribution to the Crenshaw/LAX Transit Corridor project.

15. CONSIDER:

  1. approving $14 million in FY2013 Transit Fund Allocations for Los Angeles County transit operators and Metro operations. This allocation represents additional State Transit Assistance (STA) funds received for fiscal year 2012 for MTA Bus operations and Los Angeles County municipal operators. This allocation complies with state regulations and MTA Board policies and guidelines;
  2. authorizing the Chief Executive Officer to amend the FY2013 budget to reflect this adjustment; and
  3. authorizing the Chief Executive Officer to negotiate and execute all necessary agreements to implement the above amendment.

16. AUTHORIZE the Chief Executive Officer to award a five year contract, inclusive of four one-year options, to Los Angeles Federal Armored Services, the highest rated proposer under RFP PS54402931, for currency processing services in the amount not to exceed $2,572,180 effective November 1, 2012.

17. RECEIVE AND FILE the year end (fourth quarter) financial performance for Fiscal Year (FY) 2012 budget.

18. RECEIVE AND FILE report on budget themes and performance metrics. [HANDOUT]

(ALSO ON SYSTEM SAFETY AND OPERATIONS COMMITTEE)

19. RECEIVE AND FILE report on Debt Policy Priority #5 as it relates to the selection process for bond underwriters and financial advisors.

20. RECEIVE oral report on Project Budget and Schedule Status.

(ALSO ON CONSTRUCTION COMMITTEE)

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

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