| Finance Committee - July 20, 2004 |
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Click here for a PDF version of the agenda FINANCE COMMITTEEMeeting Notice Date: 10:00 a.m., Tuesday, July 20, 2004 1. Roll Call 2. Approval of Minutes of the June 15, 2004 Meeting - ACTION* (attachment 1) 3. Recommend the Award of a Consultant Contract to DKS Associates for the Geary Corridor Transit Study – ACTION* (attachment 2) Following the Board's action in May to appropriate Prop K funding for the study, we issued a request for proposals for consultant services for the Geary Corridor Transit Study. Proposals were due to the Authority on June 30. We assembled a selection panel comprised of representatives from Muni, DPT, and the Authority. Based on a competitive selection process, the panel has made a recommendation for award of a consultant contract to DKS Associates, in association with IBI Group and others, for transportation planning, traffic analysis, outreach and conceptual design services for the Geary Corridor Transit Study. The CAC passed a motion of support for the award of a contract to the top-ranked firm emerging from this competitive selection process at its July 7 meeting. We are seeking a recommendation to award a consultant contract to DKS Associates for the Geary Corridor Transit Study, in an amount not to exceed $275,000. 4. Recommend Authorization to the Executive Director to Enter into Grant Agreements and Execute Related Documents to Carry Out the Outer Mission Transportation Study – ACTION* (attachment 3) The Authority, together with the Department of Parking and Traffic (DPT), applied for and was recently awarded a California Department of Transportation Environmental Justice Planning Grant to undertake the Outer Mission Transportation Study. The purpose of the study is to develop a community-supported transportation plan for low-cost improvements that can be implemented in the short (1 year) to mid-term (3-5 years). The $81,000 grant will provide for study of pedestrian safety, transit performance, and traffic calming measures through a community-based planning effort. The grant will be matched with $9,000 in local funds that have already been included in the Authority's adopted FY2004/05 Budget. The Authority will manage the grant and implement the study, in partnership with DPT and other implementing agencies, over a 12-month period starting Fall 2004. The Authority will also coordinate the study with numerous other studies and projects that are occurring in the study area. The proposed action will enable the Authority to accept the grant and enter into a contract with the State Business, Transportation and Housing Agency to implement the study. We are seeking a recommendation to authorize the Executive Director to enter into grant agreements and execute related documents to carry out the Outer Mission Transportation Study. 5. Recommend Authorization for the Executive Director or his designee to examine State Board of Equalization records pertaining to transactions and use taxes collected on behalf of the Authority – ACTION* (attachment 4) Pursuant to Authority Resolution 90-2, adopted on January 16, 1990, the Executive Director entered into an agreement with the State Board of Equalization to perform all functions pertaining to the administration and operation of the Transactions and Use Tax Ordinance, including the collection of transactions and use (“sales and use”) taxes on the Authority's behalf. The reauthorization of the half-cent sales tax on November 4, 2003 (Proposition K, Section 1405) extended this agreement for the 30-year life of the Proposition K Expenditure Plan. As part of its ongoing activities, the State Board of Equalization reviews sales and use tax returns filed by California state taxpayers to identify potential errors and adjustments. The details of these transactions are considered confidential information. The Board of Equalization can and does provide access to that information, but it requires an Authority Board resolution authorizing its release to the Executive Director or his designees. We are seeking a recommendation to authorize the Executive Director or his designee to examine State Board of Equalization records pertaining to transactions and use taxes collected on behalf of the Authority. 6. Recommend Award of a three-year contract with two additional one-year extension options to the independent CPA firm of Macias, Gini & Company, LLP, in an amount not to exceed $255,100, to provide annual audit services for FY2003/04 through FY2005/06, and authorization for the Executive Director to negotiate the non-monetary terms and conditions of the contract – ACTION* (attachment 5) Under its fiscal policy, Authority financial records are to be audited annually by an independent CPA firm. The prior auditing services contract expired on June 30, 2004. On March 26, 2004, the Authority issued a Request for Proposals for annual audit services for a three-year contract covering fiscal years 2003/04 through 2005/06, with two additional one-year extension options. Four firms submitted bids, which included both a technical and cost component, by the proposal deadline of April 23, 2004. Of these four, one firm withdrew its bid due to other commitments; the remaining three were interviewed by a three-member selection panel, consisting of expert accounting and financial professionals from the Authority and two other Bay Area transportation agencies. Based on the competitive process defined in the evaluation criteria of the request for proposals, the panel recommended Macias, Gini & Company, LLP be awarded the annual audit services contract. We are seeking a recommendation for award of a three-year contract with two additional one-year extension options to the independent CPA firm of Macias, Gini & Company, LLP, to provide annual audit services for FY2003-2004 through FY2005/06, in an amount not to exceed $255,100, and authorization for the Executive Director to negotiate the non-monetary terms and conditions of the contract. 7. Recommend Adoption of the Authority's Investment Policy – ACTION* (attachment 6) On August 16, 1993, through Resolution 93-21, the Authority Board adopted an Investment and Fund Use Policy. The effect of this action was to adopt the City and County of San Francisco's investment policy as the Authority's own. The policy was focused on the Prop B sales tax revenues held in the City's pooled cash fund. As part of the Prop K transition, the Authority is conducting a comprehensive review and update of its policies. Given the Authority's expanded role since its inception in 1989, which includes the programming and administration of non-sales tax funds such as CMA, TFCA and debt proceeds, it is prudent for the Authority to define a systematic investment policy encompassing all funds and investment activities it administers directly. We are seeking a recommendation to adopt the Authority's Investment Policy. 8. Introduction of New Items – INFORMATION 9. Public Comment - INFORMATION 10. 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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Ethics Commission at 30 Van Ness Ave., Suite 3900, San Francisco, CA 94102, telephone (415) 581-2300; or website www.sfgov.org/ethics. |
