CHARLESTON AREA REGIONAL TRANSPORTATION AUTHORITY FINANCE COMMITTEE

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1. Call to Order C H A R L E S T O N A R E A R E G I O N A L T R A N S P O R T A T I O N A U T H O R I T Y FINANCE COMMITTEE 1:30 pm on WED, September 17, 2014 Lonnie Hamilton III Public Service

1 1. Call to Order C H A R L E S T O N A R E A R E G I O N A L T R A N S P O R T A T I O N A U T H O R I T Y FINANCE COMMITTEE 1:30 pm on WED, September 17, 2014 Lonnie Hamilton III Public Service Building 4045 Bridgeview Drive 2 nd Floor Conference Room B-225 North Charleston, SC Consideration of Minutes 08/20/14 Meeting 3. Budget Performance Reports August 2014 AGENDA 4. Contract Renewal / # / DAVIS & FLOYD re: On-Call A&E Services 5. Contract Renewal / # / CAROINA CUSTOM SIGN, LLC re: Transit Sign Installation/Removals 6. Contract Renewal / # / VULCAN SIGNS, INC. re: Transit Sign Fabrication 7. Other Business, If Any 8. Adjournment Please note that the next regularly scheduled meeting of the CARTA Finance Committee will be WEDNESDAY, 10/15/14 in Room B-225 of the Lonnie Hamilton III Public Service Building, 4045 Bridgeview Drive, North Charleston, SC Notice, including agenda documentation, will be sent to Board Members in advance of the meeting, as well as posted on 1

2 ITEM #2 08/20/14 MINUTES 2

3 CHARLESTON AREA REGIONAL TRANSPORTATION AUTHORITY FINANCE COMMITTEE MEETING MINUTES 1:39 P.M. on Wednesday 08/20/14 North Charleston City Hall 3 rd Floor Buist Conference Room, 2500 City Hall Lane North Charleston, SC BOARDMEMBERS IN ATTENDANCE: Councilmember Michael Seekings, Committee Chair and Board Secretary/Treasurer representing the City of Charleston Councilmember Chris O Neal, Board Vice-Chair representing the Town of Mount Pleasant Chairman Teddie Pryor, Sr., Charleston County Council Councilmember Ed Astle, City of North Charleston Councilmember Marty Bettelli, City of Isle of Palms Councilmember Michael Brown, City of North Charleston Councilmember Anna B. Johnson, Charleston County Council Councilmember James Lewis, Jr., City of Charleston Mr. Alfred Harrison, Legislative Delegation Ms. Lynn Katie McClure, Legislative Delegation Mr. Ray Anderson, Proxy for Mayor R. Keith Summey, City of North Charleston Police Chief Mike Cochran, Proxy for Mayor Minnie Blackwell, City of Hanahan Councilmember Jerry Kaynard, Proxy for Mayor Mike Perkis, Town of Sullivans Island Mr. Tim Keane, Proxy for Mayor Joseph P. Riley, Jr., City of Charleston STAFF MEMBERS IN ATTENDANCE: Mr. Jeff Burns, AICP, Interim Executive Director Ms. Michelle Emerson, Marketing & Communications Manager Mr. Jon Kane, Advertising Manager Ms. Leslie Stubblefield, CPA, Financial Administrator Ms. Sarah Whitt, Office Manager CONTRACTORS & GUESTS IN ATTENDANCE: Mr. Greg Brackin; TransDev Mr. Daniel Brock; Rawle Murdy Associates Mr. Dan Frazier; BCD-COG Ms. Sharon Hollis, AICP; Davis & Floyd Ms. Amy Jenkins, Esquire; McAngus Goudelock & Courie, PLLC Ms. Diane Lackey; SCDOT Ms. Ginger Stevens; TransDev CALL TO ORDER Committee Chair Michael Seekings, CARTA Board Secretary/Treasurer representing the City of Charleston, opened the 08/20/14 meeting at approximately 1:39 PM in the 3 rd Floor Buist Conference Room of the North Charleston City Hall, 2500 City Hall Lane, North Charleston, SC After a brief moment of silence, a quorum was confirmed for the meeting to proceed. CONSIDERATION OF MEETING MINUTES FROM 07/16/14 Chairman Seekings introduced this item and asked if there was a motion from the floor. Lynn Katie McClure, representing the Charleston County Legislative Delegation, entered a motion to accept the 07/16/14 minutes as distributed; a second to this motion was entered by Councilmember Ed Astle, City of North Charleston. With no additional discussion, comments or questions, the motion was voted and passed unanimously. BUDGET PERFORMANCE REPORT for JULY 2014 Chairman Seekings called on Jeffrey Burns, Interim Executive Director; Mr. Burns deferred to Leslie Stubblefield, CPA, Financial Administrator, to brief the Committee. For the month of July 2014, Ms. Stubblefield reported a July ACTUAL deficit of $370,000 with a YTD Surplus of $382,691. 3

4 Mr. Burns said the report continued to reflect a large amount owed to Veolia (transitioning to TRANSDEV). He reported that as of 08/19/14, CARTA had received the FY 2014 Federal Grant balance. This would make ~ $5 Million available to pay down Veolia/Transdev payables due. Mr. Burns confirmed that Transdev Management was in town last week and discussed their continued understanding and support of CARTA s payment situation. Chairman Seekings asked Mr. Burns where CARTA was in the process of presenting its FY 2015 to member jurisdictions. Mr. Burns confirmed ~ 50% completion of this process with the remained due to finish during September with no problems, to date. Councilmember Chris O Neal expressed his special thanks to both Ms. Stubblefield and Sharon Hollis, AICP with Davis & Floyd, for their patience in staying for a 5-hour meeting of Mount Pleasant s Council, as the Council had no questions or objections for the FY 2015 Budget. CONTRACT RENEWAL / # GREENE FINNEY HORTON, LLP / EXERNAL AUDIT SERVICES A motion to recommend this renewal to the CARTA Board for approval was entered by Councilmember Chris O Neal, Town of Mount Pleasant. A second to this motion was entered by Councilmember Marty Bettelli, City of Isle of Palms. With no further questions/comments, the motion was voted and passed unanimously. CONTRACT AWARD / # YOUNG CLEMENT RIVERS, LLP / LEGAL SERVICES Chairman Seekings introduced this agenda item and deferred to the Committee, at large, as to comments on the recommendation of the law firm YOUNG CLEMENT RIVERS, LLP. A majority of Finance Committee voiced concerns regarding a change in legal counsel from McANGUS GOUDELOCK & COURIE, LLC, especially during a critical phase with the FTA regarding the Intermodal Project and on-going Human Resources issues. Chairman Seekings asked if there were any problems with the former MGC contract relations; Mr. Burns said no problems were encountered during the five-year contract relations, and in fact, MGC had provided excellent and timely counsel upon request. Chairman Seekings asked if price was a mitigating factor. Staff confirmed it was not. Chairman Seekings said if neither performance nor price were unfavorable, he was concerned about the cost in both money and responsiveness to bring another law firm up to the performance of the current counsel. Councilmember Michael Brown, City of North Charleston, entered a motion to decline the Selection Committee recommendation and retain the current legal firm of McANGUS GOUDELOCK & COURIE, LLC, for a new contract. This contract would have an initial three-year term with (2) annual options for renewal. Councilmember James Lewis, Jr., entered a second to the motion. With no additional questions or comments, the motion was voted and passed unanimously. MULTI-LEVEL CHECK SIGNING AUTHORITY / REPORT Chairman Seekings introduced this agenda item and deferred to Mr. Burns to brief the Committee. Mr. Burns reported that Ms. Stubblefield had reviewed CARTA s check signing Policies & Procedures, including conversations with David Botzis, CPA with Dixon Hughes, to find the following: CARTA Policies & Procedures authorize either/both of the Executive Director and the Transit Administrator to sign checks. Current the Transit Administrator position is vacant. The Staff recommendation is to seek Board approval to authorize Michelle Emerson, Marketing & Communications Manager, to have check signing authority as a back-up for the Interim Executive Director. Ms. Stubblefield also conferred with Mr. Botzis regarding a procedure for dual check signing. As CARTA s current expenditure approval policy requires Board approval for all expenditures >$10K, Staff does not recommend dual check signing procedures as necessary for adequate internal controls. A motion to approve the Staff recommendations was entered with a second. The motion was voted and approved unanimously. IMPACT OF SENIOR DISCOUNT MODIFICATIONS / REPORT Chairman Seekings opened this agenda item and deferred to Mr. Burns to brief the Committee. Mr. Burns reported that Staff had studied the fiscal impact and FTA regulations of modifying the CARTA s Fare Policy to expand the hours the current $0.85 Senior Fare was available. It was determined: 4

5 CARTA s current Senior Fare Policy exceeds FTA requirements The current discounted Senior Fare achieves a system goal of distributing passenger loads throughout the operating day while incentivizing Senior travel during non-peak hours for those who are not required to travel during peak hours. Mr. Burns acknowledged that CARTA was challenged to fund operations and capital replacement needs under its current Fare Policy, including the Low-Income Fare also available for eligible Seniors. As such, Staff did not recommend the reduction of any segment of farebox revenues at this time. OTHER BUSINESS, IF ANY Chairman Seekings asked if there was any other business to come before the CARTA Finance Committee. No items were identified, at this time. ADJOURNMENT With no additional items for the consideration of the CARTA Finance Committee, Chairman Seekings called for a motion and second to adjourn. With a unanimous vote of approval, the 08/20/14 Finance Committee meeting adjourned at 1:59 PM. 5

6 ITEM #3 BUDGET PERFORMANCE REPORT 6

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12 ITEM #4 contract renewal a&e services 12

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15 ITEM #5 contract renewal transit signage installation/removal 15

16 /REMOVAL 16

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18 ITEM #6 contract renewal transit signage fabrication 18

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21 ITEM #7 other business, if any 21

22 ITEM #8 adjournment 22

CHARLESTON AREA REGIONAL TRANSPORTATION AUTHORITY CARTA FINANCE COMMITTEE MEETING 1:00 P.M.

CHARLESTON AREA REGIONAL TRANSPORTATION AUTHORITY CARTA FINANCE COMMITTEE MEETING 1:00 P.M. C H A R L E S T O N A R E A R E G I O N A L T R A N S P O R T A T I O N A U T H O R I T Y CARTA FINANCE COMMITTEE MEETING 1:00 P.M. on WED, AUGUST 19, 2015 Lonnie Hamilton III Public Service Building 4045