Finance Committee Materials
4/26/2017 9:25:05 AM
4/26/2017 9:25:05 AM
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TO:Board of Directors <br />FROM:Bill D. Carnahan <br />SUBJECT:Finance Committee Report <br />DATE:February 4, 2013 <br />A meeting of the Finance Committee was held on February 4, 2013, at the SCPPA office in Glendora. <br />Committee members present were:Ed Zacherl (Anaheim);Bob Liu (Burbank);Rebecca Gallegos <br />(Colton); Eric Campbell (Glendale); Mario Ignacio (LADWP); Shari Thomas (Pasadena); Laura Nomura and <br />Reiko Kerr (Riverside); Bill Fox (Vernon) <br />Others present were:Stephen Cole (Fulbright & Jaworski); Mike Berwanger, Dan Hartman (via <br />teleconference), and Will Frymann (Public Financial Management);Therese Savery (LADWP/SCPPA); <br />Vernon Oates, Steve Homer and Rick Morillo (SCPPA). <br />1.Investment Report <br />The Committee reviewed the Investment Reports for the month ended November 30 and the month <br />and quarter ended December 31, 2012. The Committee recommended forwarding the reports to the <br />Board for receipt and filing. <br />2.Financial Statements <br />The Committee reviewed the Quarterly Financial Statements for the quarter ended September 30, <br />2012. The Committee recommended forwarding the report to the Board for receipt and filing. <br />3.Project Budget Comparison Reports <br />The Committee reviewed the Project Budget Comparison Reports for the quarter ended September 30, <br />2012. The Committee recommended forwarding the reports to the Board for receipt and filing. <br />4.Gas Prepay Project Unsolicited Proposal <br />PFM (Public Financial Management) updated the Committee on the progress of the debt restructuring <br />as proposed by Goldman Sachs. Tax issues have been vetted by Fulbright & Jaworski. Goldman <br />Sachs will be finalizing the restructuring with AIG and American General Life through the end of
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