| Finance Committee - June 15, 2004 |
|
Please click here for a PDF version of the agenda FINANCE COMMITTEEMeeting Notice Date: 10:00 a.m., Tuesday, June 15, 2004 1. Roll Call 2. Approval of Minutes of the May 18, 2004 Meeting - ACTION* (attachment 1) 3. Recommend Support for SCA 20 (Torlakson) – ACTION* (attachment 2) SCA 20 (Torlakson) is one of several constitutional amendments introduced this session that would make it more difficult for the State to take Prop 42 sale tax revenues earmarked for transportation and divert them to backfill the state's general fund. Of the various bills introduced, SCA 20 offers the most protection introduced as it would increase from 2/3 to 4/5 the voting threshold for the Legislature to approve a suspension and it would further require that suspended funds be paid back with interest within three years. We are seeking a recommendation of support for SCA 20 (Torlakson). 4. Recommend Authorization for the Executive Director to Execute Various Professional Services Contracts for an Amount not to exceed $66,664 – ACTION* (attachment 3) The Authority contracts with City departments and outside firms for certain specialized professional services in areas where factors like costs, work volume or the degree of specialization required would not justify the use of in-house staff. We are recommending renewal of annual contracts with the Human Rights Commission, the City Attorney's Office, the SF Community Television Corporation. We are seeking a recommendation to authorize the Executive Director to execute contracts for various professional services for an amount not to exceed $66,664. 5. Recommend Approval of an Increase in the Professional Services Contract with the Cordoba/Zurinaga Joint Venture in the Amount of $500,000 – ACTION* (attachment 4) In 2001, as part of a staff restructuring, the Authority brought the majority of its engineering functions in-house, with an understanding that specialized engineering services would still be needed and would be contracted on an on-call basis. In 2002, the Authority contracted with Cordoba/Zurinaga for on-call engineering services. The $600,000 contract is for 3 years, ending in June 2005. The on-call contractor has helped the Authority to oversee several of its more complex projects, and has provided engineering support on the development of the Expenditure Plan for Prop K and on individual project studies. The passage of Prop K in November has expanded the universe of major capital projects several fold. The need for specialized engineering assistance as part of project delivery support and project management oversight has expanded accordingly. Just in the last couple of months we have had a number of requests by the Board to take on special projects. In order to carry out these tasks, it is necessary to increase the value of the contract with Cordoba/Zurinaga. We are seeking a recommendation to approve an increase in the professional services contract with the Cordoba/Zurinaga Joint Venture in the amount of $500,000. 6. Recommend Adoption of the FY 04/05 Annual Budget and Work Program – ACTION*(attachment 5) The annual budget for FY 2004/05 is based on projected capital, planning, administrative, program oversight and project development support activities required of the Authority in its roles as Proposition K Administrator, Program Manager for TFCA and Congestion Management Agency for San Francisco. The Authority is forecasting capital expenditures of $203.6 million and $5.6 million in operating expenditures during the budget year, with Prop K funding $88.1 million, TFCA $ .9 million, and CMA-programmed fund sources $15.8M. Issuance of $106.4 million in commercial paper notes during the year, from the already authorized CP Program, will fund the remaining cash demands of the Authority's work program. Debt service and issuance costs for the year are estimated at $3.1 million. The budget assumes a modest 1% increase in sales tax revenue, based on sales tax revenue forecasts by the California Department of Finance, and the City and County of San Francisco Budget & Analysis Division. As the Authority's pooled investment fund is reduced by reimbursements to project sponsors, interest income will correspondingly decrease by an estimated $1.2 million. Pursuant to State statutes (PUC Code Sections 131000 et seq.), the Authority must adopt an annual budget by June 30, 2004. The proposed Budget has been circulated, noticed and made available to the public, as required by state statutes. We are seeking a recommendation to adopt the FY 2004/05 Budget and Annual Work Program. 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. In order to assist the City's efforts to accommodate persons with severe allergies, environmental illnesses, multiple chemical sensitivity or related disabilities, attendees at all public meetings are reminded that other attendees may be sensitive to various chemical based products. Please help the City accommodate these individuals. To obtain a disability-related modification or accommodation, including auxiliary aids or services, to participate in the meeting, please contact Pooja Jhunjhunwala at 415.522.4800 at least two business days before the meeting. Lobbyist Registration and Reporting Requirements: Individuals and entities that influence or attempt to influence local legislative or administrative action may be required by the San Francisco Lobbyist Ordinance [SF Campaign & Governmental Conduct Code, Sec. 2.100] to register and report lobbying activity. For more information about the Lobbyist Ordinance, please contact the S.F. Ethics Commission at 30 Van Ness Ave., Suite 3900, San Francisco, CA 94102, telephone (415) 581-2300; or website www.sfgov.org/ethics. |
