Administration and Finance Committee
Thursday, April 17, 2003
9:00 a.m.
Room 204
City of San Jose
801 North First Street
San Jose, California
Summary Minutes
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CALLED TO ORDER at 9:05 a.m.
ROLL CALL:
Members Present: Dando, Kennedy, Williams
Members Absent: Gage, McHugh, Pirzynski
A quorum was present.
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PUBLIC PRESENTATIONS
There were no Public Presentations.
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ORDERS OF THE DAY
Removed from the Consent Agenda and deferred to the May 22, 2003 A & F Committee Meeting, Agenda Item # 10., Approve amending the Bicycle & Pedestrian Advisory Committee (BPAC) and the Policy Advisory Committee (PAC) bylaws as indicated; and amending the VTA Administrative Code, as indicated, in order to permit certain specified modifications to the BPAC and PAC bylaws.
Noted that the May 22, 2003 A & F Committee Meeting is scheduled for 1:00 p.m. in Room 106.
Removed from the Consent Agenda and placed on the Regular Agenda, Agenda Item #9., Adopt a resolution authorizing the filing of an annual claim to the Metropolitan Transportation Commission (MTC) for allocation of FY 2003 2004 Transportation Development Act (TDA) and State Transit Assistance (STA) funds.
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CONSENT AGENDA |
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Approved the Regular Meeting Minutes of March 20, 2003.
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Received and filed the Report on Santa Clara Valley Transportation Authority Investments for the month of February 2003.
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Received and filed the Contractor Pre-Qualification Pilot Program Monthly Report.
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Received and filed the Monthly Legislative Reports.
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Received and filed the Military Leave Benefits Costs.
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9. |
(Removed from the Consent Agenda and placed on the Regular Agenda.)
Adopt a resolution authorizing the filing of an annual claim to the Metropolitan Transportation Commission (MTC) for allocation of FY 2003 2004 Transportation Development Act (TDA) and State Transit Assistance (STA) funds.
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(Removed from the Consent Agenda and deferred to the May 22, 2003 A & F Committee Meeting.)
Approve amending the Bicycle & Pedestrian Advisory Committee (BPAC) and the Policy Advisory Committee (PAC) bylaws as indicated; and amending the VTA Administrative Code, as indicated, in order to permit certain specified modifications to the BPAC and PAC bylaws.
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Approved submitting a recommendation to the Board of Directors to approve the Allocation of $140,000 from the Local Program Reserve to the City of Milpitas for supplemental funding for the Dixon Landing Road/I-880 Interchange Reconstruction Project.
The Agenda was taken out of order.
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Report on Santa Clara Valley Transportation Authority Investments for the month of February 2003 (continued)
Queried on the graphing of State Street Global Advisors Managed Account versus the benchmark graphing. Staff noted that the money manager is meeting expectations and noted that performance has matched the benchmark.
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Received and filed the Contractor Pre-Qualification Pilot Program Monthly Report (continued)
Queried on the number of applicants who have not been approved for Contractor Pre-Qualification Program. Requested that the Contractor Pre-Qualification Pilot Program cost be examined to see if the program is cost effective and if it is beneficial to continue in light of VTAs budget financial crisis. Staff noted that one prime contractor applicant was not approved for the program. Requested that VTA staff examine Contractor Pre-Qualification Pilot Program cost and determine if the program is warranted.
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Report on Santa Clara Valley Transportation Authority Investments for the month of February 2003 (continued)
Queried on the percentile and where VTA stands in regards to investment environment. Staff noted that investment information will be presented at the May 22, 2003 A & F Committee Meeting and noted that investment assessment levels are presented on a quarterly basis.
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REGULAR AGENDA |
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9. |
Approved submitting a recommendation to the Board of Directors to adopt a resolution authorizing the filing of an annual claim to the Metropolitan Transportation Commission (MTC) for allocation of FY 2003 2004 Transportation Development Act (TDA) and State Transit Assistance (STA) funds.
Requested that $8 to $9 million of revenue not currently included in the budget deficit should be reduced from the budget deficit. Queried on the MTC estimated funding projections. Queried on how often and when does VTA audit the estimates of sales tax that other jurisdictions use to determine the estimates. Queried on the recovery rate.
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Approved submitting a recommendation to the Board of Directors to approve STIP amendments for a Federal Highway Grant Anticipation Revenue Vehicle (GARVEE bond) financing strategy for the Route 87 HOV Lane Projects from Julian Street in San Jose to Route 85 and the I-880/Coleman Interchange Project; and authorize the General Manager to enter into the agreements necessary to implement the project funding.
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Approved submitting a recommendation to the Board of Directors to authorize the General Manager to purchase insurance coverage for Excess Liability, General and Auto Liability and Public Officials Errors and Omissions Liability, Property/Boiler and Machinery, Inland Marine for Buses, Vans and Mobile Equipment, Inland Marine for Light Rail Vehicles, and Flood, for the annual Operations Program insurance renewal for an amount not to exceed $1,650,000.
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OTHER ITEMS |
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Discussed proposed transit and Americans with Disabilities Act (ADA) paratransit fare modifications for implementation August 1, 2003.
Requested that Agenda Item # 14., Proposed transit and Americans with Disabilities Act (ADA) paratransit fare modifications for implementation August 1, 2003 to forwarded without a recommendation to the April 25, 2003 VTA Board of Directors Workshop Meeting for discussion.
Requested that staff look into decreasing discounts on Youth Fare fees and bring the information back to Committee Members.
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Reviewed the Committee Work Plan.
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Committee Staff Report: Heard a report, noting: 1) Friday, April 25, 2003 VTA Board of Directors Workshop Meeting, 2) 2000 Measure A, and 3) VTAs contribution cap to Caltrain.
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Chairpersons Report: Heard a report, noting a calendar conflict for Committee Members with May 22, 2003 A & F Committee Meeting at 1:00 p.m. Requested that the May 22, 2003 A & F Committee Meeting be rescheduled to 9:00 a.m.
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Determine Consent Agenda for the May 1, 2003 Board Meeting
CONSENT: Agenda Item #9., Adopt a resolution authorizing the filing of an annual claim to the Metropolitan Transportation Commission (MTC) for allocation of FY 2003 2004 Transportation Development Act (TDA) and State Transit Assistance (STA) funds and Agenda Item #11., Approve the Allocation of $140,000 from the Local Program Reserve to the City of Milpitas for supplemental funding for the Dixon Landing Road/I-880 Interchange Reconstruction Project.
REGULAR: Agenda Item #12., Approve STIP amendments for a Federal Highway Grant Anticipation Revenue Vehicle (GARVEE bond) financing strategy for the Route 87 HOV Lane Projects from Julian Street in San Jose to Route 85 and the I-880/Coleman Interchange Project; and authorize the General Manager to enter into the agreements necessary to implement the project funding and Agenda Item #13., Authorize the General Manager to purchase insurance coverage for Excess Liability, General and Auto Liability and Public Officials Errors and Omissions Liability, Property/Boiler and Machinery, Inland Marine for Buses, Vans and Mobile Equipment, Inland Marine for Light Rail Vehicles, and Flood, for the annual Operations Program insurance renewal for an amount not to exceed $1,650,000.
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Announcements
Staff announced Ad-Hoc Financial Stability Committee Meeting scheduled on Wednesday, April 23, 2003, at 9:00 a.m. held at the County of Santa Clara Office of the Sheriff in the Auditorium.
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20. |
ADJOURNED at 10:11 a.m.
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