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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: 5/17/2017 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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2017-0266 8Informational ReportRECEIVE AND FILE the third quarter report of Management Audit Services (Management Audit) for the period ending March 31, 2017.   Not available Not available
2017-0068 9ContractAUTHORIZE: A. the Chief Executive Officer to execute a five-year, fixed unit rate Contract No. PS27736000 to Bank of America for basic and specialized banking services, in an amount-not-to-exceed $2,328,909, effective July 1, 2017, subject to resolution of protest(s), if any; and B. the payment of up to $320,000 over the next five years for Federal Deposit Insurance Corporation (FDIC) assessment fees as mandated by 12 C.F.R. § 327.9 to cover insurance premiums for Metro’s deposits. This is an estimate based on historical experience. If FDIC increases the rate and the actual amount exceeds the estimate, staff will seek approval for a Contract modification. The combined total cost of the Contract is a not-to-exceed $2,648,909 over its entire life-cycle.   Not available Audio Audio
2017-0252 10ContractAUTHORIZE the Chief Executive Officer to: A. AWARD five-year fixed rate bench Contract Nos. PS36627000 through PS36627018, with the firms listed in Attachment A, for Management Audit Services, for a not-to-exceed amount of $6,864,000 for the base three-years, effective July 1, 2017 through June 30, 2020, plus $2,288,000 for each of the two, one-year options, for a combined total amount not to exceed $11,440,000, subject to resolution of protest(s), if any; and B. EXECUTE Task Orders under these Contracts for audit services in a total amount not-to-exceed $11,440,000.   Not available Audio Audio
2017-0183 11PolicyAPPROVE: A. a new low income fare subsidy program to replace the Rider Relief Transportation Program (RRTP) and Immediate Needs Transportation Program (INTP), with an estimated year one budget of $14 million, and; B. the Title VI Analysis for the new program.   Not available Audio Audio
2017-0279 30Public HearingCONSIDER: A. ADOPTING the proposed FY18 Budget as presented in the budget document (provided in a separate transmittal and posted on; and B. APPROVING the addition of 129 positions, including 22 contract and 107 non-contract full-time equivalent positions, as presented in Attachment A; and C. APPROVING the Life of Project (LOP) budgets for new capital projects with LOP exceeding $5 million, included in the proposed FY18 Budget and presented in Attachment B; and D. ADOPTING Life of Project (LOP) budget of $118.9 million for Blue Line Signaling Rehabilitation and Operational State of Good Repair Improvements that incorporates system compatibility, safety features, and new technology to improve headways during service interruptions, further described in Attachment B; and E. AMENDING the proposed budget to add $8.2 million for engineering support and advanced utility relocation designs on Metro Orange Line Grade Separation (project submitted after proposed budget was published); and F. AMENDING the proposed budget to add $1 million for the Comprehensive Opera   Not available Audio Audio
2017-0132 31ContractAUTHORIZE the CEO to award Contract No. C1081 to Mass Electric Construction Co/Parsons, the selected best value contractor to design and construct the Blue Line State of Good Repair signaling rehabilitation and operational improvements for a contract value of $81,513,000.   Not available Not available
2017-0272 32ContractAUTHORIZE the Chief Executive Officer to negotiate and execute a performance-based Contract Modification to Cubic Transportation Systems Inc. Contract No. OP02461010 to extend the base contract through December 2024 for no upfront cost of development for Nextlink, a cloud-based connection system that will link the legacy TAP system to programs and services such as the TAP mobile payment app, Bike Share, fare subsidy programs, parking, ride-hailing services and more, in exchange for sales transaction fees of 0.5-3.0%, based on use of mobile app and retail fare sales for five (5) years of operation after development.   Not available Audio Audio