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: 5/18/2016 1:00 PM Minutes status: Draft  
Meeting location: One Gateway Plaza, Los Angeles, CA 90012, 3rd Floor, Metro Board Room
Published agenda: Agenda Agenda Published minutes: Not available  
Meeting video: eComment: Not available  
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2016-0169 6.Informational ReportRECEIVE AND FILE the Los Angeles County Metropolitan Transportation Authority’s (Metro) basic financial statements and component financial statement audits completed by Crowe Horwath LLP (Crowe) for the fiscal year ended June 30, 2015.   Not available Not available
2016-0362 7.Informational ReportRECEIVE AND FILE the third quarter report of Management Audit Services for the period ending March 31, 2016.   Not available Not available
2016-0344 9.PlanADOPT the FY17 Proposed Audit Plan.   Not available Audio Audio
2016-0372 38.Public HearingAPPROVE: A. adopting the FY17 Budget as presented in the budget document (provided in a separate transmittal and posted on with the amendment of an additional -$5.3 million reduction as a reconciliation item to the proposed budget as shown on Attachment A; B. the Reimbursement Resolution declaring Metro’s intention to issue debt in FY17 for capital projects (provided in Attachment B). Actual debt issuance will require separate Board approval; C. an average 3% merit increase for non-represented employees which will be performance based; and D. an adjustment to management pay grades and salary bands for the top seven levels H1S through HFF to reflect typical market practice. There is no impact to the budget or to current employees’ salaries (see Attachment C).   Not available Audio Audio