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File #: 2017-0465   
Type: Informational Report Status: Passed
File created: 6/21/2017 In control: Executive Management Committee
On agenda: 7/20/2017 Final action: 7/27/2017
Title: APPROVE stipend of $100 per meeting per committee member for the Measure M Independent Taxpayer Oversight Committee, as required by the Ordinance.
Sponsors: Finance, Budget and Audit Committee
Indexes: Informational Report, Measure M
Meeting_Body
EXECUTIVE MANAGEMENT COMMITTEE
JULY 20, 2017


Subject
SUBJECT: MEASURE M INDEPENDENT TAXPAYER OVERSIGHT
COMMITTEE STIPEND

Action
ACTION: APPROVE STIPEND AMOUNT

Heading
RECOMMENDATION

Title
APPROVE stipend of $100 per meeting per committee member for the Measure M Independent Taxpayer Oversight Committee, as required by the Ordinance.

Issue
ISSUE

Board approval is necessary to set stipend amounts for the Measure M Independent Taxpayer Oversight Committee (Committee). Stipends will provide compensation to committee members for meetings attended.

Discussion
DISCUSSION

The Measure M Ordinance (Ordinance) requires the establishment of the Committee comprised of seven members. The Board of Directors approved the seven Committee members in June 2017. The Ordinance also states that members will be compensated through a stipend that they may choose to waive.

The recommended amount is based on our review of the stipend amount of other committees both internal and external to Metro, and the level of responsibility the Committee will have. In addition to approving the scope of work and directing the work of the auditors, the Committee will report to the Metro Board of Directors on the results of the annual audit, review all proposed debt financing and any proposed amendments to the Ordinance, including the Expenditure Plan. They will also assist Metro in taking advantage of changing situations in the future with regard to technologies and transportation developments.

In addition to the general responsibilities described above, the Committee also has quarterly, annual, and 5-year responsibilities including the review of each Subfund and local return funds uses; comparison of budget expended to project milestone completion on capital projects; project costs and performance of major corridor projects and the completion of a Comprehensive Program Assessment of the Expenditure Plan. The Committee will report any findings and recommend...

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