May 25, 2006
(For Board: June 9, 2006)

REPORT OF THE FINANCE-AUDITING COMMITTEE/
COMMITTEE OF THE WH
OLE

Honorable Board of Directors
Golden Gate Bridge, Highway
  and Transportation District

Honorable Members:

A meeting of the Finance-Auditing Committee/Committee of the Whole was held in the Board Room, Administration Building, Toll Plaza, San Francisco, California, on Thursday, May 25, 2006, at 10:30 a.m., Chair Stroeh presiding.

Committee Members Present (8): Chair Stroeh; Vice Chair Pahre; Directors Boro, Cochran, Eddie, Murray and Reilly; President Middlebrook (Ex Officio)
Committee Members Absent (0): None
Other Directors Present (4): Directors Hernández, Martini, Moylan and Newhouse Segal

Committee of the Whole Members Present (12): Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
Committee of the Whole Members Absent (6): Directors Ammiano, Brown, Dufty, Kerns, McGoldrick and Sandoval

[Note: On this date, there was one vacancy on the Board of Directors.]

Staff Present: General Manager Celia G. Kupersmith; District Engineer Denis J. Mulligan; Auditor-Controller Joseph M. Wire; Secretary of the District Janet S. Tarantino; Attorney David J. Miller; Deputy General Manager/Bridge Division Kary H. Witt; Deputy General Manager/Ferry Division James P. Swindler; Public Affairs Director Mary C. Currie; Risk Management and Safety Director William L. Stafford; Planning Director Alan R. Zahradnik; Deputy District Engineer Ewa Z. Bauer; Budget and Program Analysis Manager Jennifer Mennucci; Executive Assistant to the General Manager Amorette Ko; Assistant Clerk of the Board Karen B. Engbretson

Visitors Present: Scott Kramer, President, Claims Management, Inc.

     
1. Ratify Actions by the Auditor-Controller
     
 

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith outlined commitments, disbursements and investments made on behalf of the District.  A copy of the staff report is available in the Office of the District Secretary and on the District’s web site.

Nancy Jones, Public Financial Management, was not present at the meeting to provide a verbal report on the status of the District’s investment portfolio.  Ms. Jones’ written report was included in the Committee packet.

Staff recommended and the Committee concurred by motion made and seconded by Directors COCHRAN/MURRAY to forward the following recommendation to the Board of Directors for its consideration:
     
 
RECOMMENDATION
     
 
The Finance-Auditing Committee recommends that the Board of Directors authorize the following actions by the Auditor-Controller:
     
  a. Ratify commitments and/or expenditures for the period April 1, 2006, through April 30, 2006, totaling $54,329.14;
     
  b. Ratify investments made by the Auditor-Controller during the period April 18, 2006, through May 15, 2006, as follows:
     
SECURITY

PURCHASE

PRICE

MATURITY

PRICE

ORIGINAL

COST

PERCENT
YIELD
Barclays Bank CD
04/20/06
06/29/06
4,875,000.00
4.98

Bears Stearns Co., Inc.,

Commercial Paper

04/24/06
05/17/06
7,900,342.24
4.87

Societe Generale North American,

Commercial Paper

04/26/06
05/08/06
3,394,560.00
4.80

UBS Finance De Inc.

Commercial Paper

04/28/06
06/06/06
6,499,885.27
4.96
Barclays Bank CD
05/02/06
06/30/06
7,000,000.00
5.005

Citigroup Funding, Inc.,

Commercial Paper

05/03/06
06/02/06
5,621,620.29
4.97
Canadian Imp. Bank CD
05/05/06
06/05/06
8,000,000.00
5.01
Credit Suisse CD
05/08/06
06/08/06
11,100,000.00
5.03

Merrill Lynch & Co.,

Commercial Paper

05/08/06
06/09/06
7,569,000.00
4.99
     
d.

Accept the Investment Report for April 2006 prepared by Public Financial Management.

Action by the Board - Resolution
CONSENT CALENDAR

     
 
AYES (12):  Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
NOES (0):   None
     
2.a.
Authorize Budget Transfers in the FY 05/06 Operating and Capital Budgets for Bridge Division Projects and Capital Procurements
     
 

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith reported on staff’s recommendation to approve budget transfers in the FY 05/06 Operating and Capital Budgets for Bridge Division projects and capital procurements.  The report stated that due to an unusually rainy winter, the Golden Gate Bridge toll lanes are in greater disrepair than had been anticipated.  The Bridge Division Facilities and Maintenance Department would like to begin resurfacing work as soon as possible, to repair water damage to the pavement.  The report also stated that due to the postponement of surveys and other consulting services by the Planning Department, there are funds available to purchase paving materials and have District forces begin repairing the toll lanes in FY 05/06.  Therefore, staff recommends a transfer in the amount of $80,000 from the FY 05/06 District Division Operating Budget to the Bridge Division Operating Budget. 

The report further stated that the Bridge Division is also requesting a budget transfer to assist in funding the procurement of a fire suppression system for a new tow truck.  The report noted that this procurement was an anticipated expense, but the funds were inadvertently included in the operating budget instead of the capital budget.  Therefore, staff recommends a transfer in the amount of $14,000 from the FY 05/06 Bridge Division Operating Budget to the Bridge Division Capital Budget.  A copy of the report is available in Office the District Secretary and on the District’s web site.

Staff recommended and the Committee concurred by motion made and seconded by Directors COCHRAN/REILLY to forward the following recommendation to the Board of Directors for its consideration:
     
 

RECOMMENDATION

     
 
The Finance-Auditing Committee recommends that the Board of Directors approve the following budget transfers relative to the FY 05/06 Operating and Capital Budgets:
 
a.
Authorize a transfer in the amount of $80,000 from the FY 05/06 District Division Operating Budget, line item, “Consulting Expense,” to the FY 05/06 Bridge Division Operating Budget, line item, “Repair and Maintenance Supplies”; and,
 
b.

Authorize a transfer in the amount of $14,000 from the FY 05/06 Bridge Division Operating Budget, line item, “Repair and Maintenance Supplies,” to the FY 05/06 Bridge Division Capital Budget, line item, “Capital Equipment.”

Action by the Board - Resolution
NON-CONSENT CALENDAR

     
 
AYES (12):  Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
NOES (0):   None
     
 
[Note:  The above recommendation was forwarded to the Board of Directors meeting of May 26, 2006, for action.]
     
2.b.
Authorize Budget Increase Relative to Change Orders to Contract No. 99-B-5, Golden Gate Bridge Seismic Retrofit (Phase II), South Approach Structures, for Repairs and Painting
     
 

This item was referred to the Finance-Auditing Committee from the Building and Operating Committee meeting of May 25, 2006, for concurrence with a budget increase. In a memorandum to Committee, Deputy District Engineer Ewa Bauer, District Engineer Denis Mulligan and General Manager Celia Kupersmith reported on staff’s recommendation regarding various change orders to Contract No. 99-B-5, Golden Gate Bridge Seismic Retrofit (Phase II), South Approach Structures, for repairs and painting of certain Golden Gate Bridge structural elements. The report stated that a budget increase in the amount of $4,686,500 is necessary in the Bridge Division Capital Budget for the Golden Gate Bridge Seismic Retrofit Phase II Project, to be funded with federal grant funds programmed for the Seismic Retrofit Project. A copy of the staff report is available in the Office of the District Secretary and on the District’s web site.

Staff recommended and the Committee concurred by motion made and seconded by Directors COCHRAN/MIDDLEBROOK to forward the following recommendation to the Board of Directors for its consideration:

     
 
RECOMMENDATION
     
 

The Finance-Auditing Committee recommends that the Board of Directors authorize a budget increase in the amount of $4,686,500, in the Bridge Division Capital Budget for the Golden Gate Bridge Seismic Retrofit Phase II Project, to be funded with federal grant funds programmed for the Seismic Retrofit Project, with the understanding that the change orders have been approved by the Federal Highway Administration and are contingent upon the availability of federal grant funds.

Action by the Board – Refer to the
Building and Operating Committee Meeting of May 25, 2006

     
 
AYES (12):  Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
NOES (0):   None
     
2.c.
Authorize Budget Increase Relative to Contract No. 99-B-5, Golden Gate Bridge Seismic Retrofit (Phase II), South Approach Structures, for Construction Administration Services
     
 

This item was referred to the Finance-Auditing Committee from the Building and Operating Committee meeting of May 25, 2006, for concurrence with a budget increase. In a memorandum to Committee, Deputy District Engineer Ewa Bauer, District Engineer Denis Mulligan and General Manager Celia Kupersmith reported on staff’s recommendation regarding various actions relative to increased staff costs and extensions to professional services agreements with HNTB Corporation, Inc.; Jacobs Civil, Inc.; and, The Duffey Company for construction administration services related to Contract No. 99-B-5, Golden Gate Bridge Seismic Retrofit (Phase II), South Approach Structures. The report stated that a budget increase in the amount of $2,205,000 is necessary in the Bridge Division Capital Budget for the Golden Gate Bridge Seismic Retrofit Phase II Project, to be funded with federal grant funds programmed for the Seismic Retrofit Project. A copy of the staff report is available in the Office of the District Secretary and on the District’s web site.

Staff recommended and the Committee concurred by motion made and seconded by Directors COCHRAN/MIDDLEBROOK to forward the following recommendation to the Board of Directors for its consideration:

     
 
RECOMMENDATION
     
 

The Finance-Auditing Committee recommends that the Board of Directors authorize a budget increase in the amount of $2,205,000, in the Bridge Division Capital Budget for the Golden Gate Bridge Seismic Retrofit Phase II Project, to be funded with federal grant funds programmed for the Seismic Retrofit Project, with the understanding that the change orders have been approved by the Federal Highway Administration and are contingent upon the availability of federal grant funds.

Action by the Board – Refer to the
Building and Operating Committee Meeting of May 25, 2006

     
 
AYES (12):  Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
NOES (0):   None
     
3.
Authorize Filing Grant Applications with the Federal Transit Administration for FY 05/06 Section 5307 Capital Assistance
     
 

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith reported on staff’s recommendation for approval to file a Section 5307 grant application with the Federal Transit Administration (FTA) for FY 05/06 federal capital assistance funds.  The report stated that the Metropolitan Transportation Commission (MTC) has programmed $26,108,616 in Federal Urbanized Area Formula Program (Section 5307) grant funds in FY 05/06 to support implementation of five new and ongoing District transit capital projects.  The report stated that these grant funds require a District local match of $6,353,262.

The grant funds will be used for the following new and ongoing capital projects, which included in the District’s 10-year capital plan:
  1. Bus Replacements;
  2. Santa Rosa Fuel Tanks Replacement;
  3. Computerized Dispatch Upgrade;
 

4.

Management Information System; and,
 

5.

Bus Radio/Communications System Replacement.
     
 

As background, the report noted that MTC, in partnership with Bay Area county congestion management agencies and local transit operators, has developed a multi-modal approach to programming these federal grant funds to high-priority transit, bicycle, pedestrian and roadway projects. Once these funds are programmed by MTC, individual transit agencies must secure the funds through grant application and execution of a grant funding agreement with the FTA. The report further stated that staff recommends authorization to submit the District’s FY 05/06 Section 5307 grant application to the FTA to secure these federal capital funds in the amount of $26,108,616. A copy of the report is available in Office the District Secretary and on the District’s web site.

Staff recommended and the Committee concurred by motion made and seconded by Directors MURRAY/BORO to forward the following recommendation to the Board of Directors for its consideration:

     
 
RECOMMENDATION
     
 

The Finance-Auditing Committee recommends that the Board of Directors authorize the General Manager to file a Section 5307 grant application with the Federal Transit Administration for FY 05/06 federal grant funds available to support various capital projects.

Action by the Board – Resolution
NON-CONSENT CALENDAR

     
 
AYES (12):  Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
NOES (0):   None
     
 

[Note:  The above recommendation was forwarded to the Board of Directors meeting of May 26, 2006, for action.]

     
4.
Authorize Execution of a Professional Services Agreement with Athens Administrators, Inc., Relative to RFP No. 2006‑D-6, Third Party Administrator for Workers’ Compensation Program
     
 

In a memorandum to Committee, Risk Management and Safety Director William Stafford, Auditor-Controller Joseph Wire, Deputy General Manager/Administration and Development Teri Mantony and General Manager Celia Kupersmith reported on staff’s recommendation to authorize execution of a professional services agreement with Athens Administrators, Inc., to provide workers’ compensation claims administration services for the District. The report also stated that on February 24, 2006, the District issued a Request for Proposals (RFP) from qualified workers’ compensation Third Party Administrators (TPAs) for RFP No. 2006 D-6, Third Party Administrator for Workers’ Compensation Program. Ten proposals were received by the District by the due date of March 20, 2006 from the following companies:

  1.

Acclamation Insurance Management Services

  2.

Athens Administrators, Inc.

  3.

Claims Management, Inc.

 

4.

Gregory B. Bragg Associates

  5.

Hazelrigg Risk Management Services

  6.

Intercare Insurance Services

  7.

Northern Claims Management

  8.

Octagon Risk Services

  9.

Southern California Risk Management Associates

  10.

Tristar Risk Management

     
 

The proposals were evaluated by a selection committee based on the criteria set forth in the RFP, and the five companies with the most responsive proposals were selected for further interviews by the selection committee. The report further stated that based on a combination of factors listed in the staff report, the selection committee determined that Athens Administrators, Inc., is best qualified to provide workers’ compensation claims administration services for the District, and staff recommends execution of a professional services agreement with Athens Administrators, Inc. The report outlined the costs of each year of the contract term, including two one-year options, with a total amount not to exceed $1,927,539. A copy of the report is available from the Office of the District Secretary and on the District’s web site.

At the meeting, William Stafford summarized staff’s recommendation as outlined in the staff report. In addition, a letter was distributed to the Committee members from Scott Kramer, President of Claims Management, Inc. (CMI), dated May 24, 2006. The letter noted that CMI has provided workers’ compensation program third party administration services to the District for the past five years, and provided a response to staff’s recommendation to award RFP No. 2006-D-6 to Athens Administrators, Inc.

     
 

Public Comment

     
 

Scott Kramer summarized his letter dated May 24, 2006, and requested that the District consider an opportunity to work with CMI in the future.  Attorney Miller inquired of Mr. Kramer to confirm that his letter represented a request for the Committee to consider a different policy outcome, as distinguished from a legal protest.  In response, Mr. Kramer confirmed that his firm is not presenting a legal protest.  Rather, Mr. Kramer advised that he was requesting as a policy matter that the District consider renewing its contract with CMI for another three-year term, based on his company’s track record of workers’ compensation claims administration.

Discussion ensued, including the following:
     
 
  • Director Pahre stated that she had positive experiences with CMI through her work with the Napa Valley Unified School District, and was disappointed that the District was ending its relationship with CMI.  In response, Mr. Stafford briefly explained some of the service issues that the District had experienced with CMI.
     
 
  • Attorney Miller outlined the RFP selection process, noting that the criteria set forth in the RFP documents guided the selection committee and were consistently and uniformly applied to all proposers.  He stated that after a very deliberative process, taking into account both objective and service quality measures, the selection committee reached a unanimous recommendation that the proposal from Athens Administrators, Inc., was the best proposal received.  He further noted that it was the selection committee’s best professional judgment to award RFP No. 2006-D-6 to Athens Administrators, Inc., and that such a decision was not casting aspersions on CMI or on any other proposer who had participated in the RFP process.
     
 
  • Director Boro commented that it was interesting that staff is recommending switching to a new TPA, since he could not recall any complaints against CMI over the past five years.  He expressed his hope that the District’s workers’ compensation program claims administrator will monitor the new relationship with Athens Administrators, Inc., and keep the Committee informed on a timely basis as to the new TPA’s performance.
     
 
Staff recommended and the Committee concurred by motion made and seconded by Directors COCHRAN/EDDIE to forward the following recommendation to the Board of Directors for its consideration.
     
 
RECOMMENDATION
     
 

The Finance-Auditing Committee recommends that the Board of Directors authorize execution of a Professional Services Agreement with Athens Administrators, Inc., relative to RFP No. 2006‑D-6, Third Party Administrator for Workers’ Compensation Program, in the amount of $1,927,539, for a three-year term, effective July 1, 2006, with two one-year options to be exercised at the General Manager’s discretion, in an amount not to exceed $398,529 for year four, and in an amount not to exceed $412,477 for year five; with the understanding that requisite funds are available in the FY 06/07 District Division Operating Budget and that funds for the remaining years will be included in the appropriate future fiscal years’ operating budgets.

Action by Board – Resolution
NON-CONSENT CALENDAR

     
 
AYES (12):  Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
NOES (0):   None
     
 

[Note:  The above recommendation was forwarded to the Board of Directors meeting of May 26, 2006, for action.]

     
5.
Authorize the Setting of a Public Hearing to Receive Public Comment Relative to a Proposed Fare Increase for Special Event Bus Service
     
 

In a memorandum to Committee, Planning Director Alan Zahradnik, Deputy General Manager/Bus Division Susan C. Chiaroni, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith presented staff’s recommendation to set a public hearing on June 22, 2006, to receive public comment on a proposal to increase fares for special event bus service to San Francisco 49ers football games at Monster Park for the upcoming 2006/2007 season.  The report stated that the District provides special event bus service from three North Bay locations to Monster Park, on weekends only, and that advance reservations are required in order to assure that the necessary buses and drivers are available to operate the service.  The report noted that over 3,000 round trip bus tickets were sold during the 2005/2006 season.

The report summarized the District’s fare policy for special event bus services, which states that special event service fares should be set at a “breakeven” level, to provide sufficient fare revenues to cover operating costs of these discretionary, special services.  Staff prepared a cost/revenue analysis of special event bus service provided to nine 49ers football games during the 2005/2006 season.  Based on this analysis, it is estimated that costs in 2005 will increase and require a fare increase.  The table below shows the current and proposed bus fares for each of the three North Bay locations:
     
ROUTE
CURRENT FARE
PROPOSED FARE
Round Trip to/from Larkspur Ferry Terminal
$16.00
$19.00
Round Trip to/from Santa Rosa Piner Terminal
$20.00
$23.00
Round Trip to/from Town of Sonoma
$22.00
$25.00
     
 

The report further stated that in accordance with Board policy, staff recommends setting a public hearing to receive public comment on the proposed fare increase noted above.  After consideration of public comments, staff will present a final recommendation to the Finance-Auditing Committee at its Thursday, July 13, 2006 meeting, with action by the Board anticipated on Friday, July 14, 2006.  Staff will incorporate any fare changes into new marketing materials for the first 49ers’ weekend home game in September 2006.  A copy of the report is available from the Office of the District Secretary and on the District’s web site.

Staff recommended and the Committee concurred by motion made and seconded by Directors COCHRAN/PAHRE to forward the following recommendation to the Board of Directors for its consideration:
     
 
RECOMMENDATION
     
 

The Finance-Auditing Committee recommends that the Board of Directors authorize the setting of a public hearing on Thursday, June 22, 2006, at 9:30 a.m., in the Board Room, Administration Building, Golden Gate Bridge Toll Plaza, to receive public comment relative to a proposed fare increase for special event bus service.

Action by the Board – Resolution
NON-CONSENT CALENDAR

     
 
AYES (12):  Directors Cochran, Eddie, Hernández, Martini, Murray, Newhouse Segal, Pahre, Reilly, and Stroeh; Second Vice President Boro; First Vice President Moylan; President Middlebrook
NOES (0):   None
     
 
[Note:  The above recommendation was forwarded to the Board of Directors meeting of May 26, 2006, for action.]
     
6. Status Report on the Annual Financial Audit by Macias, Gini & Company, LLP
     
 

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith provided the Letter of Engagement for the FY 05/06 financial audit from the District’s external auditors, Macias, Gini & Company, LLP (Macias).  The report stated that the Letter of Engagement reconfirms Macias’ understanding of services to be provided to the District to ensure compliance in accordance with Government Auditing Standards. 

The report also stated that, in addition to the auditing of the basic financial statements of the District, Macias will also:
  1.
Submit documentation that will include the schedule of expenditures of federal awards that will not be audited, but will be subject to “in relation to” procedures;
  2.
Audit the National Transit Database Report and the Transportation Development Act Compliance Report; and,
  3.
Submit the Management Discussion and Analysis required by the Governmental Accounting Standards Board.
 

A copy of the report, with Macias’ Letter of Engagement attached, is available in the Office of the District Secretary and on the District’s web site.

Action by Board – None Required

     
7. Discussion Relative to the Draft FY 06/07 Operating and Capital Budgets
     
 

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith provided a general overview of the proposed draft FY 06/07 Operating and Capital Budget (FY 06/07 Budget), which had been presented in detail at the May 11, 2006 meeting of the Committee. A copy of the report is available from the Office of the District Secretary and on the District’s web site.

At the meeting, Joseph Wire stated that the Deputy General Manager/Bridge Division, as well as the District Engineer, would provide short overviews of the workplans of their respective divisions/departments, including accomplishments made in FY 05/06 and goals for FY 06/07, as outlined in the draft FY 05/06 Budget document. He further stated that the Deputy General Managers for the Bus and Ferry Divisions would provide such overviews at the June 8, 2006 meeting of the Committee.

Kary Witt described in detail the Bridge Division accomplishments, workplans and goals as listed on pages 37 to 53 of the draft FY 06/07 Budget document. Among the many accomplishments of the Bridge Division, Mr. Witt highlighted the following:

  1.
He stated that the Bridge Division continues to enhance Bridge security, and obtained a $2.1 million grant from the U.S. Department of Homeland Security for physical security improvements on the Golden Gate Bridge. He noted that staff is seeking federal grant funds for a security enhancement project at the south end of the Bridge.
  2.
He stated that the Bridge Division work crews continue to systematically address the most critical of Bridge maintenance items identified in the Golden Gate Bridge 2001 Biennial Inspection, including continued work on the repair of critical floor beams on the Bridge span.  He noted that day-to-day maintenance of the Bridge represents 30% of work done by Bridge Division work crews.
  3.
He stated that in FY 05/06, the Bridge Division issued 37 permits for special events on the Bridge, including several large events such as the San Francisco Marathon, the Service Employees International Union march, and the “Day of Conscience for Darfur” silent vigil.
     
 

Denis Mulligan briefly described the accomplishments, workplans and goals of the Engineering Department, noting that besides the Golden Gate Bridge Seismic Project, Engineering staff also undertakes routine capital and maintenance projects supporting all operating divisions of the District.

Discussion ensued, including the following:

     
 
  • President Middlebrook announced that Kary Witt had been nominated for the position of Second Vice President of The International Bridge, Tunnel and Turnpike Association (IBTTA) for the 2007 calendar year.  She also inquired as to the status of the Main Cable Renovation project.  In response, Denis Mulligan stated that this project will be undertaken in FY 06/07, and that the project had been deferred for one year due to the commitment of Engineering Department staff to other time-sensitive capital projects, such as Contract No. 2006-B-10, Golden Gate Bridge North Approach and Side Span Physical Security Improvements.
     
 
  • Chair Stroeh inquired of Mr. Witt as to the costs incurred by the District associated with the permitted special events on the Bridge.  In response, Mr. Witt stated that all District costs associated with any special event is reimbursed to the District.  He noted that for the San Francisco Marathon, the District incurred and was reimbursed for approximately $30,000 for staffing and security.
     
 
  • Director Boro acknowledged Kary Witt’s leadership role in securing U.S. Department of Homeland Security federal grant funding for the Golden Gate Bridge.  Mr. Witt added that the amount of Homeland Security funding that the District receives is dependent upon the amount of Homeland Security funding for the entire Bay Area.
     
 
  • Director Reilly inquired as to length of contract work contemplated for Contract No. 2007-FT-1, Larkspur Ferry Terminal Channel Maintenance Dredging, recently awarded to Dutra Dredging Company.  In response, Mr. Mulligan stated that there is a specific window of opportunity in which to accomplish the dredging, and that the applicable regulatory agencies only permit such dredging between the months of June and October.  He noted that the flow of the Corte Madera Creek deposits so much sediment in the Larkspur Ferry Channel that maintenance dredging is required every three years.

Action by the Board – None Required

     
8.
Review of Golden Gate Bridge Traffic/Tolls and Bus and Ferry Transit Patronage/Fares for Ten Months Ending April 30, 2006
     
 

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith provided a schedule comparing categories of Bridge traffic for ten months ending April 30, 2006.  A copy of the report is available in the Office of the District Secretary and on the District’s web site.

Action by the Board – None Required

     
9. Review of Financial Statements for Ten Months Ending April 2006
     
  a. Statement of Revenue and Expense
     
   

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith provided a financial statement entitled, Statement of Revenues and Expenses for Ten Months Ending April 2006. A copy of the report is available in the Office of the District Secretary and on the District’s web site.

Action by the Board – None Required

     
  b. Statement of Capital Programs and Expenditures
     
   

In a memorandum to Committee, Auditor-Controller Joseph Wire and General Manager Celia Kupersmith provided a financial statement entitled, Statement of Capital Programs and Expenditures for Ten Months Ending April 30, 2006. A copy of the report is available in the Office of the District Secretary and on the District’s web site.

Action by the Board – None Required

     
10. Public Comment
     
  There was no public comment.
     
11. Adjournment
     
  All business having been concluded, the meeting was adjourned at 11:15 a.m.
     

Respectfully submitted,

/s/ J. Dietrich Stroeh, Chair
Finance-Auditing Committee