NORTH COAST RAILROAD AUTHORITY (NCRA)

 FINANCE COMMITTEE MEETING

 

Minutes

 

June 4, 2003 9:00 AM

 

        UKIAH VALLEY CONFERENCE CENTER, REISLING ROOM

200 SOUTH SCHOOL STREET, UKIAH, CA 95482

 

 

A.                 CALL TO ORDER – 9:20am

 

B.                 ROLL CALL

 

Committee Members present:  Director Simonson and Director Ripple (sitting in for Director Hemphill). Also present: Theda Hawkinson and Stephanie Coleman of Caltrans, Erick Roeser of Sonoma County Auditors Office, NCRA Executive Director Doug Christy, Legal Counsel Chris Neary, and Executive Assistant Dina Polkinghorne

 

C.                 AGENDA APPROVAL

 

Committee Action: Upon motion by Director Simonson, 2nd by Director Ripple, and carried (3-0) the committee moved to accept the agenda as presented.

 

D.                PUBLIC COMMENTS

 

None                                       

 

Director Campbell entered the meeting at 9:21 am

Cheryl Willis of Caltrans entered the meeting at 9:22 am

 

E.                 CONDUCT OF BUSINESS

 

1.                  Approval of 2003/2004 Agency Budget

Executive Director Christy introduced Erick Roeser from the Sonoma County Auditor’s Office.

 

Mr. Christy presented a proposed “Agency” budget worksheet for the 03/04 fiscal year.  He explained that this new Agency budget represents a combined Property and Administration budget from the 02/03 fiscal year.  The third budget reported during the 02/03 fiscal year, TCRP, will be changed to a “Project” budget.  This budget will reflect all outside funding sources and will have no net financial effect on the Agency budget, as the expenses cannot exceed the fund amounts.  This budget will be developed and approved after the Agency budget, as future funding sources for 03/04 have yet to be determined.

 

The committee (and attendees) reviewed each revenue and expense item presented on the budget worksheet.  Staff was advised and directed to revise the proposed budget to reflect the following material changes below:

 

 

The committee decided that the full Board should adopt this budget at its June 18th meeting as “Preliminary” only.  This would allow the agency to incur typical day-to-day operating expenses until the 03/04 budget is finalized.

 

                                                                                    Adjourned for a break at 10:45 am

                                                                                    Reconvened at 11:00 am

 

F.                  MATTERS FROM COMMITTEE MEMBERS

 

None

 

G.                ADJOURNMENT

 

1:15 pm