Please note: this meeting's minutes have not been finalized yet. Actions taken on legislation and their results are not available.
Meeting Name: Finance, Budget and Audit Committee Agenda status: Final
Meeting date/time: 6/20/2024 9:00 AM Minutes status: Draft  
Meeting location: One Gateway Plaza, Los Angeles, CA 90012, 3rd Floor, Metro Board Room
Watch online: https://boardagendas.metro.net Listen by phone: Dial 202-735-3323 and enter Access Code: 5647249# (English) or 7292892# (Español) To give written or live public comment, please see the top of page 4
Published agenda: Agenda Agenda Published minutes: Not available  
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2024-0332 6.Formula Allocation / Local ReturnCONSIDER: A. AUTHORIZING the Chief Executive Officer to negotiate and execute all necessary agreements between Los Angeles County Metropolitan Transportation Authority (LACMTA) and the Cities for their Capital Reserve Account as approved; and B. ESTABLISHING new Local Return funded Capital Reserve Accounts for the Cities of Palmdale (Proposition A), and South Pasadena (Measure R) (Attachment A).   Not available Not available
2024-0333 7.ResolutionADOPT: A. Findings and Recommendations (Attachment A) for allocating fiscal year 2025 (FY25), Transportation Development Act (TDA) Article 8 funds estimated (Attachment B) at $42,918,656 as follows: 1. In the City of Avalon, there are no unmet transit needs that are reasonable to meet. Therefore TDA Article 8 funds in the amount of $202,757 may be used for street and road projects or transit projects; 2. In the Cities of Lancaster and Palmdale, there are no unmet transit needs that are reasonable to meet; in the Cities of Lancaster and Palmdale, and the unincorporated portions of North County, transit needs can be met by using other existing funding sources. Therefore, the TDA Article 8 funds in the amount of $10,490,346 and $10,039,029 (Lancaster and Palmdale, respectively) may be used for street and road projects or transit projects as long as their transit needs continue to be met; 3. In the City of Santa Clarita, there are no unmet transit needs that are reasonable to meet; in the City of Santa Clarita and the unincorporated portions of the Santa Clarita Valley, existing tra   Not available Not available
2024-0337 8.Formula Allocation / Local ReturnCONSIDER: A. APPROVING $3.2 billion in fiscal year 2024-25 (FY25) Transit Fund Allocations for Los Angeles County jurisdictions, transit operators, and Metro Operations as shown in Attachment A. These allocations comply with federal, state, and local regulations and Metro Board approved policies and guidelines; B. APPROVING fund exchanges in the estimated amount of $3,566,564 of Metro’s Transportation Development Act (TDA) Article 4 allocation with Municipal Operators’ shares of the Low Carbon Transit Operations Program. Funding will be adjusted based on LCTOP actual allocations; C. APPROVING fund exchanges in the estimated amount of $1,056,205 of Metro’s Proposition (Prop) C 40% allocation with Antelope Valley, Santa Clarita, Burbank, and Glendale’s shares of the Low Carbon Transit Operations Program (LCTOP). Funding will be adjusted based on LCTOP actual allocations; D. APPROVING fund exchange in the amount of $780,652 of Metro’s TDA Article 4 allocations with Claremont’s share of FY19-FY23 Federal Section 5307 funding; E. APPROVING fund exchange of Federal Section 5307 discre   Not available Not available
2023-0774 9.ContractAUTHORIZE the Chief Executive Officer to award a firm-fixed unit rate Contract No. PS108960(2)000 to Crowe LLP (Crowe) to perform annual financial and compliance audits of Metro and its component units in the not-to-exceed (NTE) amount of $2,096,970 for the five-year base term, and $464,450 for the one-year option term, for a total combined NTE amount of $2,561,420, effective July 1, 2024, subject to resolution of all properly submitted protest(s), if any.   Not available Not available
2024-0243 10.ProgramAUTHORIZE the Chief Executive Officer to negotiate and purchase Public Entity excess liability policies with up to $300 million in limits at a not-to-exceed premium of $29.9 million for the 12-month period effective August 1, 2024, to August 1, 2025.   Not available Not available
2024-0282 11.ProgramCONSIDER: A. APPROVING programming the Los Angeles County Metropolitan Transportation Authority’s (“Metro”) share of the Southern California Regional Rail Authority’s (SCRRA) Fiscal Year (FY) 2024-25 Operating, Rehabilitation, and Capital Budget in the amount of $206,833,180 as described in Attachment A; B. APPROVING the increase of funding to SCRRA for Right-Of-Way (ROW) maintenance along Metro-owned property beyond the 20-foot center of track from $1,195,916 to $2,920,232 (addition of $1,724,316) beginning FY 2024-25 and increasing by the Consumer Price Index thereafter; C. APPROVING additional funding in the amount of up to $500,000 using FY23 surplus SCRRA-dedicated funds for Metro’s share of the San Bernardino Line 25% Fare Reduction Program and extending the program date from June 30, 2023, to June 30, 2025; D. EXTENDING the lapsing dates for funds previously allocated to SCRRA for State of Good Repair (SGR) and capital project Memoranda of Understanding (MOUs) as follows: · Ticket Vending Machine (TVM) Replacement Project extended from June 30, 2023, to June 30,   Not available Not available
2024-0325 12.BudgetCONSIDER: A. APPROVING local funding request for Access Services (Access) in an amount not to exceed $189,763,812 for FY25. This amount includes: · Local funds for operating and capital expenses in the amount of $187,153,892 · Local funds paid directly to Metrolink for its participation in Access’ Free Fare Program in the amount of $2,609,920 B. AUTHORIZING the Chief Executive Officer (CEO) to negotiate and execute all necessary agreements to implement the above funding programs.   Not available Not available
2024-0417  Informational ReportRECEIVE General Public Comment   Not available Not available