| Finance Committee - June 12, 2007 |
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Click here to download PDF Agenda AGENDA FINANCE COMMITTEEMeeting Notice
Date: 9:30 a.m., Tuesday, June 12, 2007
1. Roll Call 2. Approval of Minutes of the May 15, 2007 Meeting - ACTION* (attachment) 3. Recommend Adoption of the Proposed Fiscal Year 2007/08 Annual Budget and Work Program - ACTION* (attachment) 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 Fiscal Year 2007/08 Annual Budget forecasts sales tax, grant and investment revenues at $162.8 million for the fiscal period. Total expenditures, which include capital expenditures, associated financing and interest costs, administrative and operating expenses, are forecast at $162.8 million, a reduction from what was forecast in the approved Fiscal Year 2005 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 Fiscal Year 2007/08. The Finance Committee heard the proposed Fiscal Year 2007/08 as an information item on May 12, 2007. The Citizens Advisory Committee unanimously adopted a motion of support for the proposed budget at its regularly scheduled meeting on May 23, 2007. We are seeking a recommendation to adopt the proposed Fiscal Year 2007/08 Annual Budget and Work Program. 4. Recommend Approval of Annual Professional Services Contracts in an Amount Not to Exceed $1,054,340, and Authorize the Executive Director to Negotiate Non-monetary Provisions - ACTION* (attachment) The Authority contracts with City departments and outside firms for certain specialized professional services in areas where factors like cost, work volume or the degree of specialization required would not justify the use of in-house staff. We are recommending approval of a number of professional services contracts which include audit services, general and specialized legal counsel, telecast and closed-captioning services, legislative advocacy, information systems consulting and strategic communications services for Fiscal Year 2007/08 in an amount not to exceed $1,054,340. We are seeking a recommendation to approve the annual professional services contracts as detailed, in an amount not to exceed $1,054,340, and authorize the Executive Director to negotiate the non-monetary provisions. 5. State and Federal Legislative Update - INFORMATION/ACTION* (attachment) 6. Introduction of New Items - INFORMATION 7. Public Comment 8. Adjournment
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