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DRAFT MINUTES Finance and Audit Committee Meeting Alameda-Contra Costa Transit District 2nd Floor Board Room 1600 Frankl...

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DRAFT MINUTES Finance and Audit Committee Meeting Alameda-Contra Costa Transit District 2nd Floor Board Room 1600 Franklin Street Oakland, CA 94612 Wednesday, April 23, 2008 1:00 p.m. Finance Committee Members: Director Jeff Davis, Chair Director Greg Harper Director Rebecca Kaplan

The meeting was called to order at 1:05 p.m. with Chairman Davis presiding. Committee Members Present: Chairman Davis.

Director Harper, Vice President Kaplan, and

Committee Members Absent: None. Also Present: General Manager Rick Fernandez, General Counsel Ken Scheidig, Chief Financial Officer Deborah McClain, and District Secretary Linda Nemeroff. Public Comment No public comment was offered. INFORMATION ITEM(S) (Consent Calendar) [Items listed under the Consent Calendar are considered to be routine and may be enacted by one motion/one vote. If discussion is desired, an item may be removed from the Consent Calendar and will be considered individually.] 1. Consider approving Finance and Audit Committee minutes of March 26, 2008. 2. Consider receiving Retirement Board minutes of February 15, 2008 (GM Memo No. 08-098). MOTION: KAPLAN/HARPER to approve the consent calendar and forward to the Board of Directors recommending receipt (3). BRIEFING ITEM(S)/ACTION ITEM(S) 3. Consider recommending approval of an amendment to the contract with Buck Consultants for actuarial services (GM Memo No. 08-091). MOTION: HARPER/KAPLAN to forward to the Board of Directors recommending approval as presented (3). AC Transit Finance and Audit Committee

April 23, 2008

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4. Consider recommending that the General Manager be authorized to enter into contracts with Kaiser Health Plan, HealthNet Insurance, United Healthcare for Third Party Administration Fees, HCC Life Insurance for stop loss fees and approve renewal rates for COBRA and retiree medical and dental (GM Memo No. 08-099). MOTION: HARPER/KAPLAN to forward to the Board of Directors recommending approval as presented (3).

5. Consider recommending approval of the District’s participation in a purchasing coalition with the City of San Ramon and potentially other public agencies to reduce the cost of the District’s self funded medical plan (GM Memo No. 08-103). MOTION: KAPLAN/HARPER to forward to the Board of Directors recommending approval as presented (3).

6. Consider review and recommend adoption of Resolution No. 08-023 approving amendments to Board Policy 126 regarding costs for Candidate’s Statements of Qualifications (DS Memo No. 08-064). MOTION: HARPER/KAPLAN to forward to the Board of Directors recommending approval of Resolution No. 08-023 with an increase in the amount candidates are required to pay for a Candidate’s Statement to $600 for Wards and $2,400 for Atlarge candidates(3).

Agenda Planning There were no new items added to agenda planning. [Vice President Kaplan to discuss with staff the financial impacts of SB 840 - Universal Healthcare prior to placement of the item on the pending list.] May ƒ Report on the impact of growing income inequality relative to increasing the District’s income by raising fares (Requested by President Peeples – 4/18/07). ƒ Follow-up report with additional information on the future direction of nutritional programs, health provider wellness programs, and on Orange County’s employee wellness program and measurable results (Requested by Committee – 3/26/08). Pending Not Scheduled ƒ Report on the public results of the current disparity studies being conducted by other agencies and a cost estimate for the District to conduct its own study (Requested by Board – 2/27/08).

AC Transit Finance and Audit Committee

April 23, 2008

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Quarterly Reports ƒ Board/Officer Travel/Meeting Expense (May – Consent) ƒ Employee Out-of-State Travel (May – Consent) ƒ Financial Performance/Quarterly Budget Update (May) ƒ Surplus/Obsolete Materials (May – Consent) ƒ Finance/Human Resources (FHR) System Implementation (May) Semi-Annual Reports (Consent) DBE/FTA Report (May/Nov) Retirement Board (July/Dec)

Annual Reports (2008) Fare Structure Update (Mar) Action Appropriations Limit (July) Action DBE Goals (July) Action Externally Funded Welfare to Work (Nov) Consent Budget Calendar (Nov) Action Measure AA/BB (Dec to Board) Action Year-End Audited Financial Statements (Dec) Briefing

2008 Fiscal Policy Review (Action) Investment Policy No. 336 (Mar) Write-off Policy No. 394 (Mar) Introduction to Fiscal Policies No. 302 (May) Accounting Policies No. 308 (June) Actuarial Valuation for Retirement Fund No. 310 (July) Budget Policy No. 312 (Sept)

Board/Staff Comments (Government Code Section 54954.2(a)) Adjournment There being no further business to come before the Finance and Audit Committee, the meeting adjourned at 1:49 p.m. The next regular meeting of the Finance and Audit Committee is scheduled for Wednesday, May 28, 2008. Respectfully submitted, Linda A. Nemeroff District Secretary

AC Transit Finance and Audit Committee

April 23, 2008

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DRAFT MINUTES Special Finance and Audit Committee Meeting Alameda-Contra Costa Transit District 2nd Floor Board Room 1600 Franklin Street Oakland, CA 94612 Wednesday, May 14, 2008 3:00 p.m. Finance Committee Members: Director Jeff Davis, Chair Director Greg Harper Director Rebecca Kaplan

The meeting was called to order at 3:36 p.m. with Chairman Davis presiding. Committee Members Present: Director Harper, Vice President Kaplan, and Director Davis, Committee Chair. Committee Members Absent: None. Also Present: General Manager Rick Fernandez, General Counsel Ken Scheidig, Deputy General Manager Jim Gleich, and District Secretary Linda Nemeroff. Public Comment No public comment was offered. BRIEFING ITEM(S)/ACTION ITEM(S) 1. Consider recommending that the General Manager be authorized to negotiate an agreement for a Class Pass Program with the Peralta College System (GM Memo No. 08-107). Reginald James, Student Trustee for the Peralta Community College District, commented in favor of the proposal. MOTION: KAPLAN/HARPER to forward to the Board of Directors recommending approval as presented (3). Agenda Planning There were no new items added to agenda planning. May ƒ Report on the impact of growing income inequality relative to increasing the District’s income by raising fares (Requested by President Peeples – 4/18/07). ƒ Follow-up report with additional information on the future direction of nutritional programs, health provider wellness programs, and on Orange County’s employee wellness program and measurable results (Requested by Committee – 3/26/08). AC Transit Finance and Audit Committee

May 14, 2008

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Pending Not Scheduled ƒ Report on the public results of the current disparity studies being conducted by other agencies and a cost estimate for the District to conduct its own study (Requested by Board – 2/27/08). Quarterly Reports ƒ Board/Officer Travel/Meeting Expense (May – Consent) ƒ Employee Out-of-State Travel (May – Consent) ƒ Financial Performance/Quarterly Budget Update (May) ƒ Surplus/Obsolete Materials (May – Consent) ƒ Finance/Human Resources (FHR) System Implementation (May) Semi-Annual Reports (Consent) DBE/FTA Report (May/Nov) Retirement Board (July/Dec)

Annual Reports (2008) Fare Structure Update (Mar) Action Appropriations Limit (July) Action DBE Goals (July) Action Externally Funded Welfare to Work (Nov) Consent Budget Calendar (Nov) Action Measure AA/BB (Dec to Board) Action Year-End Audited Financial Statements (Dec) Briefing

2008 Fiscal Policy Review (Action) Investment Policy No. 336 (Mar) Write-off Policy No. 394 (Mar) Introduction to Fiscal Policies No. 302 (May) Accounting Policies No. 308 (June) Actuarial Valuation for Retirement Fund No. 310 (July) Budget Policy No. 312 (Sept)

Board/Staff Comments (Government Code Section 54954.2(a)) Adjournment There being no further business to come before the Finance and Audit Committee, the meeting adjourned at 3:53 p.m. The next regular meeting of the Finance and Audit Committee is scheduled for Wednesday, May 28, 2008. Respectfully submitted, Linda A. Nemeroff District Secretary

AC Transit Finance and Audit Committee

May 14, 2008

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