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Finance, Budget and Audit Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, January 14, 2015 1:00 p.m.

Agenda

Call to Order

Directors

Mark Ridley-Thomas, Chair
Paul Krekorian, Vice Chair
James Butts
Diane DuBois
Hilda Solis
Carrie Bowen, non-voting member

Officers

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

12. CONSIDER:

A. establishing Proposition C Local Return funded Capital Reserve Account for the City of South El Monte;

B. approving additional funds of $400,000 to the existing reserve of $1,650,000 and extension of three years for the City of Redondo Beach Proposition C Local Return Capital Reserve Account; and

C. authorizing the Chief Executive Officer to negotiate and execute all necessary agreements between Los Angeles County Metropolitan Transportation Authority and the Cities for their Capital Reserve Accounts as approved.

13. CONSIDER:

A. adopting the Investment Policy;

B. approving the Financial Institutions Resolution authorizing financial institutions to honor signatures of LACMTA officials; and

C. delegating to the Treasurer or his/her designee, the authority to invest funds for a one year period, pursuant to California Government Code (the Code) Section 53607.

14. AUTHORIZE the Chief Executive Officer to execute Modification No. 1 to Contract No. PS71203061 with Carahsoft Technology Corporation to replace the current end-of-life Customer Relationship Management system in an amount not to exceed $735,000 increasing the total contract value from $396,054 to $1,131,054. [HANDOUT]

15. RECEIVE AND FILE the FY16 Budget Planning Parameters. [HANDOUT]

16. RECEIVE AND FILE the first quarter report of Management Audit Services for the period ending September 30, 2014.

17. RECEIVE oral update on TAP Working Group.

18. RECEIVE report from the Executive Director, Finance and Budget.

19. RECEIVE report from the Chief Executive Officer.

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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