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Finance, Budget, and Audit Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, March 14, 2012 2:30 p.m.

Agenda

Call to Order:

Directors:
Mel Wilson, Chair
Ara Najarian, Vice Chair
John Fasana
Gloria Molina
Mark Ridley-Thomas
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

22. RECEIVE report from the Chief Financial Services Officer.

23. RECEIVE report of the Chief Executive Officer.

24. RECEIVE oral Federal/State Affairs update.

25. RECEIVE oral update on Fiscal Year 2013 Budget and Longterm Financial Outlook. [HANDOUT]

26. CONSIDER:

A. Authorizing the Chief Executive Officer to award a 27 month, firm fixed price, contract under RFP No. PS63502579 to Zanett Commercial Solutions, for development and implementation of a Contract Information Management System, for an amount not to exceed $6,231,032 inclusive of sales tax, and

B. Increasing the Life-of-Project (LOP) Budget for the Contract Information Management System by $2,247,850 from $5,313,400 to $7,561,250, and combine CP207096 (CIMS Ph I) and CP207130 (CIMS Ph II).

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

27. RECEIVE AND FILE the second quarter financial performance for Fiscal Year 2012 budget.

28. RECEIVE AND FILE report on the proposed property insurance program.

29. RECEIVE AND FILE the:

A. Los Angeles County Metropolitan Transportation Authority's basic financial statements and component financial statement audits completed by KPMG LLP for the fiscal year ended June 30, 2011; and

B. KPMG's Management Letter presenting internal control and other operational matters noted for consideration.[HANDOUT]

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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