Finance, Budget and Audit Committee

The Finance, Budget and Audit Committee mainly discusses the annual budget, financial statements, performance measures, financing, bonding, funding programs, management and financial audits, special reviews, audit plans, risk management, insurance policies, fare policy, revenues, investments, eminent domain, and real estate transactions.


Recent Activity

Action

6/14/2017

RECOMMENDED FOR APPROVAL

Program 2017-0389

SUBJECT: FY 2017-18 METROLINK ANNUAL WORK PROGRAM BUDGET CONSIDER: A. APPROVING the Southern California Regional Rail Authority’s (SCRRA) FY 2017-18 (FY18) Annual Work Program pursuant to their ...

6/14/2017

RECOMMENDED FOR APPROVAL

Plan 2017-0370

SUBJECT: FY18 AUDIT PLAN ADOPT the FY18 Proposed Audit Plan.

6/14/2017

RECOMMENDED FOR APPROVAL

Resolution 2017-0351

SUBJECT: TRANSPORTATION DEVELOPMENT ACT (TDA) ARTICLE 8 FUND PROGRAM ADOPT: A. FINDINGS AND RECOMMENDATIONS (Attachment A) for allocating fiscal year (FY) 2017-18 Transportation Development Act ...

6/14/2017

RECOMMENDED FOR APPROVAL

Budget 2017-0335

SUBJECT: ACCESS SERVICES PROPOSED FISCAL YEAR 2018 BUDGET CONSIDER: A. APPROVING local funding request for Access Services (Access) in an amount not to exceed $91,892,571 for FY18. This amount ...

6/14/2017

RECOMMENDED FOR APPROVAL

Formula Allocation / Local Return 2017-0319

SUBJECT: FISCAL YEAR 2018 TRANSIT FUND ALLOCATIONS CONSIDER: A. APPROVING $2.1 billion in FY2018 Transit Fund Allocations for Los Angeles County jurisdictions, transit operators and Metro ...

6/14/2017

RECOMMENDED FOR APPROVAL

Program 2017-0306

SUBJECT: EXCESS LIABILITY INSURANCE PROGRAM AUTHORIZE the Chief Executive Officer to negotiate and award excess liability insurance policies with up to $300 million in limits at a cost not to ...

6/14/2017

RECOMMENDED FOR APPROVAL AS AMENDED

Program 2017-0284

SUBJECT: LOCAL RETURN PROPOSITION A AND PROPOSITION C CAPITAL RESERVE AUTHORIZE the Chief Executive Officer to negotiate and execute all necessary agreements between Los Angeles County ...

5/17/2017

RECOMMENDED FOR APPROVAL

Public Hearing 2017-0279

CONSIDER: A. ADOPTING the proposed FY18 Budget as presented in the budget document (provided in a separate transmittal and posted on metro.net); and B. APPROVING the addition of 129 positions, ...

5/17/2017

RECOMMENDED FOR APPROVAL

Contract 2017-0272

AUTHORIZE the Chief Executive Officer to negotiate and execute a performance-based Contract Modification to Cubic Transportation Systems Inc. Contract No. OP02461010 to extend the base contract ...

5/17/2017

RECEIVED AND FILED

Informational Report 2017-0266

RECEIVE AND FILE the third quarter report of Management Audit Services (Management Audit) for the period ending March 31, 2017.

5/17/2017

RECOMMENDED FOR APPROVAL

Contract 2017-0252

AUTHORIZE the Chief Executive Officer to: A. AWARD five-year fixed rate bench Contract Nos. PS36627000 through PS36627018, with the firms listed in Attachment A, for Management Audit Services, ...

5/17/2017

RECOMMENDED FOR APPROVAL

Policy 2017-0183

APPROVE: A. a new low income fare subsidy program to replace the Rider Relief Transportation Program (RRTP) and Immediate Needs Transportation Program (INTP), with an estimated year one budget ...

5/17/2017

RECOMMENDED FOR APPROVAL

Contract 2017-0068

AUTHORIZE: A. the Chief Executive Officer to execute a five-year, fixed unit rate Contract No. PS27736000 to Bank of America for basic and specialized banking services, in an ...

4/19/2017

RECEIVED AND FILED

Informational Report 2017-0220

RECEIVE AND FILE the Los Angeles County Metropolitan Transportation Authority’s (LACMTA) basic financial statements and component financial statement audits completed by Crowe Horwath LLP (Crowe) ...

4/19/2017

RECEIVED AND FILED

Informational Report 2017-0194

RECEIVE AND FILE report on FY 2018 Budget Development Status.

4/19/2017

RECOMMENDED FOR APPROVAL

Program 2017-0180

CONSIDER: A. APPROVING the SCRRA’s request for additional funding for urgent structure and rail tie rehabilitation work up to $18,381,025. B. PROGRAMMING up to $18,381,025 in Measure R 3% ...

4/19/2017

RECOMMENDED FOR APPROVAL

Contract 2017-0117

AUTHORIZE the Chief Executive Officer to award indefinite delivery/indefinite quantity (IDIQ), firm fixed unit price contracts for a three-year initial term, with two, one-year options for the ...

4/19/2017

RECOMMENDED FOR APPROVAL

Program 2017-0086

CONSIDER: A. ADOPTING the Phase II Metro Bike Share Expansion (Phase II Expansion) Environmental Analysis findings that the expansion qualifies for a Categorical Exemption under Section 15303 ...

4/19/2017

RECOMMENDED FOR APPROVAL

Program 2017-0062

AUTHORIZE the Chief Executive Officer to negotiate and award All Risk Property and Boiler and Machinery insurance policies for all property at the current policy limits at a not to exceed price ...

4/19/2017

RECOMMENDED FOR APPROVAL

Contract 2016-0499

CONSIDER: A. ADOPTING a Life of Project (LOP) Budget for $1,407,900 for the Rail Vehicle Mist System Demonstration Project; and B. APPROVING the award and authorize the Chief Executive Officer ...

11/16/2016

RECOMMENDED FOR APPROVAL

Motion / Motion Response 2016-0909

APPROVE Motion by Antonovich and Najarian that the CEO be authorized to enter into negotiations with the SCRRA Chief Executive Officer and the Chief Executive Officers of the other Member ...

11/16/2016

RECOMMENDED FOR APPROVAL

Policy 2016-0891

AUTHORIZE the Chief Executive Officer to provide Metrolink with “pre-contract award authority” to procure the contracts required for the urgent track and structure rehabilitation work reported by ...

11/16/2016

RECEIVED AND FILED

Informational Report 2016-0843

RECEIVE AND FILE the first quarter report of Management Audit Services for the period ending September 30, 2016.

11/16/2016

RECOMMENDED FOR APPROVAL

Resolution 2016-0797

ADOPT a resolution, Attachment A, that: A. AUTHORIZES the competitive sale of Prop C Senior Lien Bonds (the “2017 Prop C Bonds”) to finance capital projects in one or more transactions through ...

11/16/2016

RECOMMENDED FOR APPROVAL

Agreement 2016-0740

AUTHORIZE the Chief Executive Officer to execute a revenue-neutral fund exchange agreement between Metro, the Ventura County Transportation Commission (VCTC) and the Southern California Regional ...

2/17/2016

CARRIED OVER

Informational Report 2016-0114

RECEIVE AND FILE status report on FY17 Preliminary Capital Budget.

2/17/2016

CARRIED OVER

Budget 2016-0036

RECEIVE AND FILE the FY17 Budget Planning Parameters.

2/17/2016

CARRIED OVER

Resolution 2015-1761

CONSIDER: A. AUTHORIZING the Chief Executive Officer to renew and/or replace the direct-pay letters of credit (“LOC”) and direct purchase revolving credit facility (“RCF”) for the Proposition ...

10/14/2015

RECEIVED

Oral Report / Presentation 2015-1538

RECEIVE oral report from the Chief Executive Officer.

10/14/2015

RECOMMENDED FOR APPROVAL

Contract 2015-1380

FINANCE, BUDGET AND AUDIT COMMITTEE RECOMMENDED (4-0) authorizing the Chief Executive Officer to execute Modification No. 5 to Contract No. PS30203139 with Axiom xCell, Inc. (Axiom) to provide ...

10/14/2015

FORWARDED DUE TO ABSENCES AND CONFLICTS

Policy 2015-1355

FINANCE, BUDGET AND AUDIT COMMITTEE FORWARDED DUE TO ABSENCES AND CONFLICTS authorizing the Chief Executive Officer to renew existing group insurance policies covering Non-Contract, AFSCME, and ...

10/14/2015

RECEIVED AND FILED

Informational Report 2015-1286

RECEIVE AND FILE: A) staff response to Board Motion 6.1 (Attachment A) related to Commuter Rail Funding in Los Angeles County adopted at the June 2015 Board meeting. B) status of $18 ...

9/16/2015

DISCUSSED

Contract 2015-1261

AUTHORIZING the Chief Executive Officer to award a one year Firm Fixed Price Contract No. PS1544301142 to Ma and Associates to conduct the fiscal year FY 2013-2015 independent performance review ...

9/16/2015

APPROVED

Resolution 2015-1227

A. ADOPTING a resolution: 1. authorizing the issuance of refunding bonds by negotiated sale to refund the 2004 General Revenue Refunding Bonds (the “2004 GRRBs”) in one or more transactions ...

9/16/2015

DISCUSSED

Motion / Motion Response 2015-1221

MOTION by DuBois, Knabe, Butts and Najarian that the funds derived from advertising receipts be deposited into the Risk Allocation Matrix Internal Savings Account (RISA) along with the Parking ...

9/16/2015

RECOMMENDED FOR APPROVAL

Contract 2015-1104

AUTHORIZING the Chief Executive Officer to execute Contract Modification No. 4 to Contract No. PS05312717, with Carl Warren & Company, for general liability claims administration services, to ...

6/17/2015

RECEIVED

Oral Report / Presentation 2015-0764

RECEIVE report from the Chief Executive Officer.

6/17/2015

RECOMMENDED FOR APPROVAL

Formula Allocation / Local Return 2015-0704

APPROVED ON CONSENT CALENDAR: A. approving $1.8 billion in FY2016 Transit Fund Allocations for Los Angeles County jurisdictions, transit operators and Metro operations as shown in Attachments ...

6/17/2015

WITHDRAWN

Policy 2015-0676

WITHDRAWN: ADOPT the FY16 Proposed Audit Plan.

6/17/2015

RECEIVED AND FILED

Informational Report 2015-0655

RECEIVE AND FILE status report on response to Board Motion No. 8: MTA Ridership (March 19, 2015) to develop an Action Plan to increase Metro ridership.

6/17/2015

RECEIVED AND FILED

Informational Report 2015-0580

RECEIVE AND FILE the third quarter report of Management Audit Services for the period ending March 31, 2015.

6/17/2015

RECOMMENDED FOR APPROVAL

Resolution 2015-0574

ADOPTED ON CONSENT CALENDAR: A. findings and recommendations (Attachment A) for allocating fiscal year (FY) 2015-16 Transportation Development Act (TDA) Article 8 funds estimated at ...

6/17/2015

CARRIED OVER

Motion / Motion Response 2015-0450

APPROVED: A. the summary of delegated Chief Executive Officer fund type assignments; and B. receiving and filing this information as a response to Motion 5.1 which directed staff to ...

6/17/2015

FORWARDED WITHOUT RECOMMENDATION

Motion / Motion Response 2015-0450

APPROVED: A. the summary of delegated Chief Executive Officer fund type assignments; and B. receiving and filing this information as a response to Motion 5.1 which directed staff to ...

6/17/2015

RECOMMENDED FOR APPROVAL

Fare / Tariff / Service Change 2015-0449

ADOPTED ON CONSENT CALENDAR: A. the proposed change to the Policy on Use of Interagency Transfers as described in Attachment A; B. finding that the proposed policy change results in a ...

6/17/2015

RECOMMENDED FOR APPROVAL

Program 2015-0259

APPROVED: A. the Southern California Regional Rail Authority’s (SCRRA) FY 2015-16 Annual Work Program pursuant to their April 17, 2015, budget transmittal (Attachment A) and subsequent May 28, ...

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Committee Members (7)

Member Title Committee Role
Carrie Bowen
Carrie Bowen Appointee of Governor of California Nonvoting Member
Jacquelyn Dupont-Walker
Jacquelyn Dupont-Walker Appointee of Mayor of the City of Los Angeles Chair
Robert Garcia
Robert Garcia Appointee of Los Angeles County City Selection Committee Member
Janice Hahn
Janice Hahn Los Angeles County Board Supervisor Vice Chair
Hilda L. Solis
Hilda L. Solis Los Angeles County Board Supervisor Member
Ara Najarian
Ara Najarian Appointee of Los Angeles County City Selection Committee Member
Phil Washington
Phil Washington Chief Executive Officer Member