| Finance Committee - May 22, 2007 |
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Click here to download PDF Agenda AGENDA FINANCE COMMITTEEMeeting Notice
Date: 10:00 a.m., Tuesday, May 22, 2007 1. Roll Call 2. Approval of Minutes of the March 20, 2007 Meeting - ACTION* (attachments) 3. Recommend Approval of Professional Services Contracts with the Tenderloin Housing Clinic for the Outreach Initiative for Lifeline Transit Access Project, in an Amount Not to Exceed $137,741, and the Bayview Hunters Point Foundation for Community Improvement for the Bayview Hunters Point Community Transport Project, in an Amount Not to Exceed $924,879 - ACTION* (attachments) On July 26, 2006, the Authority approved Resolution 07-01, establishing San Francisco project priorities for Lifeline Transportation Program (LTP) funds made available through the Metropolitan Transportation Commission (MTC). These priorities included $137,741 in LTP funds for the Tenderloin Housing Clinic's (THC) Outreach Initiative for Lifeline Transit Access Project and $924,879 for the Bayview Hunters Point Foundation for Community Improvement's (BVHPF) Bayview Hunters Point Community Transport project. MTC funds the LTP with a combination of Federal Congestion Mitigation and Air Quality (CMAQ), Federal Jobs Access Reverse Commute (JARC), and State Transit Assistance (STA) funds, all of which have different eligibility, match, and other requirements. This mix of fund sources required MTC to collectively look at all of the LTP projects recommended by the different Congestion Management Agencies (CMAs), including the Authority, and then match fund sources to eligible projects. Non-profit project sponsors are not eligible to be direct recipients of STA or JARC funds. MTC ultimately recommended awarding a combination of STA and JARC funds to the THC and BVHPF projects, requiring that a third party serve as the grant recipient. After consulting with MTC, the non-profit sponsors, and the Municipal Transportation Agency, which is an eligible recipient of STA and JARC funds, all parties agreed to have the Authority accept the funds for both project sponsors through agreements with MTC, and then enter into a contract with the project sponsors to enable them to complete the approved scope of work. We are seeking a recommendation to approve professional services contracts with THC for the Outreach Initiative for Lifeline Transit Access project, in an amount not to exceed $137,741, and BVHPF for the Bayview Hunters Point Community Transport project, in an amount not to exceed $924,879. 4. State and Federal Legislative Update - ACTION* (attachments) 5. Proposed FY2007/08 Annual Budget - INFORMATION* (attachments) Pursuant to State statutes (PUC Code Sections 131000 et seq.) and Authority Fiscal Policy, the Authority Board must adopt an Annual Budget for the following fiscal year by June 30. The proposed FY2007/08 Annual Budget forecasts sales tax, grant and investment revenues at $157.8 million for the fiscal period. Total expenditures, which include capital expenditures, associated financing and interest costs, administrative and operating expenses, are forecast at $157.8 million, a reduction from what was forecast in the approved FY2005 Strategic Plan update, as project allocation requests from sponsors and respective reimbursement request have lagged behind that Plan's timeline. The Annual Budget also presents the Authority's detailed work program for FY2007/08. The final budget will be presented to the CAC for action in May, and to the Finance Committee and Authority Board for adoption in June. We are seeking comments and guidance from the Committee on the proposed FY2007/08 Annual Budget and Work Program. This is an information item. 6. Introduction of New Items - INFORMATION 7. Public Comment 8. Adjournment
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