Finance Committee - January 11, 2011

PDF version of Agenda

AGENDA

FINANCE COMMITTEE

Meeting Notice

Date:                     11:00 a.m., Tuesday, January 11, 2011
Location:                    Room 263, City Hall
Commissioners:      Commissioners Mar (Chair), Elsbernd (Vice Chair), Cohen, Farrell, Kim and Mirkarimi (Ex Officio)
Clerk:                          Erika Cheng

1.                   Roll Call

2.                  Approve the Minutes of the December 7, 2010 Meeting - ACTION* attachment

3.                  Recommend Authorizing the Executive Director to Execute an Amendment to Increase the Memorandum of Agreement with the Recreation and Park Department by $1,229,380, to a Total Amount Not to Exceed $1,300,000, for Palace of Fine Arts Parking Strategies Implementation for the Presidio Parkway Project and Authorizing the Executive Director to Modify Certain Agreement Terms - ACTION* attachment

The Authority, in close cooperation with the California Department of Transportation (Caltrans), has been leading the Doyle Drive Replacement Project since 1994, now re-envisioned as Presidio Parkway, to replace the existing Doyle Drive structure. The Authority has forged a partnership with a host of federal, state and local agencies involved with this complex undertaking, including the Federal Highway Administration, the Metropolitan Transportation Commission, the Presidio Trust, the California Department of Veterans Affairs, the National Park Service, the Golden Gate Bridge Highway and Transportation District, the Recreation and Park Department (RPD) and others. The RPD will be implementing temporary parking strategies to assist the Exploratorium and Palace of Fine Arts Theatre to accommodate visitor parking and bus activity and to minimize parking overflow into adjacent neighborhoods while the primary parking lot is temporarily unavailable due to construction activities of the Presidio Parkway.  Because of the urgency in initiating work, the Authority issued a limited authorization to the RPD in December 2010 in an amount not to exceed $70,620. The Memorandum of Agreement (MOA) with the RPD outlines the roles and responsibilities of the Authority and the RPD to develop and implement the Palace of Fine Arts Parking Strategies Implementation Project.  Under the MOA, the Authority will provide transportation planning and public relations experts, reimburse the RPD for eligible expenses performed on the project, and reimburse City and County of San Francisco departments, consultants and contractors procured by the RPD for work related to the project.  We are seeking a recommendation to authorize the Executive Director to execute an amendment to increase the MOA with the RPD by $1,229,380, to a total amount not to exceed $1,300,000, for Palace of Fine Arts Parking Strategies Implementation for the Presidio Parkway Project and to authorize the Executive Director to modify certain agreement terms.

4.                  Recommend Award of a Three-Year Contract to KNN Public Finance, in an Amount Not to Exceed $250,000, for Financial Advisory Services, with Two Additional One-Year Extension Options, and Authorization for the Executive Director to Negotiate Contract Terms and Conditions - ACTION* attachment

On October 26, 2010, the Authority issued a request for proposals (RFP 10/11-05) for a three-year financial advisory services contract, with two additional one-year extension options. Five firms submitted bids, which included both a technical and cost component, by the proposal deadline of November 24, 2010.  The selection panel comprised of representatives from the Authority and the Controller's Office of Public Finance.  Based on the competitive process defined in the evaluation criteria of the RFP document, the selection panel recommended that the top-ranked firm of KNN Public Finance be awarded the financial advisory services contract. We are seeking a recommendation to award a three-year consultant contract to KNN Public Finance, in an amount not to exceed $250,000, for financial advisory services, with two additional one-year extension options, and to authorize the Executive Director to negotiate contract terms and conditions.

5.                  Recommend Acceptance of the Audit Report for the Fiscal Year Ended June 30, 2010 - ACTION* attachment

The Authority's financial records are required to be audited annually by an independent, certified public accountant. The annual audit (Audit Report) for the year ended June 30, 2010 was conducted in accordance with generally accepted auditing standards by the independent, certified public accounting firm of Macias, Gini & O'Connell, LLP (Macias Gini). Macias Gini is also the auditor for the City and County of San Francisco.  The Authority received an unqualified (clean) audit opinion from Macias Gini, with no recommendations for improvements. For the fiscal audit, Macias Gini has issued an opinion, stating that the financial statements present fairly and accurately, in all material respects, the financial position of the Authority. Since more than $500,000 in federal grants was expended during the year, a single audit (compliance audit) was performed on federal awards, including Surface Transportation Program funds. For the single audit, Macias Gini has issued an opinion, stating the Authority complied in all material respects with the requirements associated with the use of federal funds.   The full audit report and a separate report containing other required communications to the Finance Committee are attached. We are seeking a recommendation to accept the Audit Report for the fiscal year ended June 30, 2010.

6.                  State and Federal Legislative Update - INFORMATION/ACTION* attachment

7.                  Introduction of New Items - INFORMATION

8.                  Public Comment

9.                  Adjournment


Please note that the meeting proceedings can be viewed live at http://www.sfgov.org/sfgtv or that evening at 6:00 pm on Cable Channel 26 in San Francisco, with a repeat on the weekend (either Saturday or Sunday evening).  To know the exact cablecast times for weekend viewing, please call SFGTV at (415) 557-4293 on Friday when the cablecast times have been determined.

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To obtain a disability-related modification or accommodation, including auxiliary aids or services, to participate in the meeting, please contact Erika Cheng at 415.522.4800 or via email at clerk@sfcta.org at least two business days before the meeting.

The nearest accessible BART station is Civic Center (Market/Grove/Hyde Streets). Accessible MUNI Metro lines are the F, 5, 21, 47, 49, 71, 71L, J, K, L, M, N, T (exit at Van Ness Station). MUNI bus lines also serving the area are the 6, 7, and 9 San Bruno. For more information about MUNI accessible services, call (415) 701-4485. There is accessible parking in the vicinity of City Hall at Civic Center Plaza and adjacent to Davies Hall and the War Memorial Complex. Accessible curbside parking is available on Dr. Carlton B. Goodlett Place and Grove Street.

If any materials related to an item on this agenda have been distributed to the Finance Committee after distribution of the agenda packet, those materials are available for public inspection at the San Francisco County Transportation Authority at 1455 Market St., 22nd Floor, San Francisco, CA 94103, during normal office hours.

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