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Finance & Budget Committee Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, April 20, 2011 2:30 p.m.

Agenda

Call to Order

Directors

Michael Antonovich, Chair
Ara Najarian, Vice Chair
Diane DuBois
Gloria Molina
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

 

  1. RECEIVE report from the Chief Financial Services Officer [HANDOUT].
  2. ADOPT the Fiscal Responsibility Policy for Measure R Capital Project Contingency Funds.
  3. RECEIVE AND FILE response to the motion by Director Antonovich as approved by the LACMTA Board of Directors on March 24, 2011 that instructed the Chief Executive Officer to provide a full assessment of Los Angeles County projects impacted by the potential cancellation of Proposition 1B bond sales in Fall 2011; a comprehensive legislative strategy, a comprehensive mitigation strategy to keep projects on schedule, and an outreach plan to the Los Angeles County state legislative delegation.
    (ALSO ON PLANNING AND PROGRAMMING AND EXECUTIVE MANAGEMENT AND AUDIT COMMITTEE)
  4. APPROVE the sale of the MTA's equity share in David Solow's residence for the amount of approximately $141,000.
  5. AUTHORIZE the Chief Executive Officer to purchase All Risk Property and Boiler and Machinery insurance policies for all property, at a not to exceed price of $2.12 million for the 12-month period effective May 10, 2011 through May 9, 2012.
  6. RECEIVE AND FILE FY12 Budget Development Progress Report.
  7. RECEIVE report of 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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