Finance Committee Materials
4/26/2017 9:25:09 AM
4/26/2017 9:25:08 AM
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TO:Board of Directors <br />FROM:Bill D. Carnahan <br />SUBJECT:Finance Committee Report <br />DATE:July 1, 2013 <br />A meeting of the Finance Committee was held on July 1, 2013, at the SCPPA office in Glendora. <br />Committee members present were:Ed Zacherl (Anaheim); Evilia Waloejo (Burbank); Rebecca Gallegos <br />(Colton);Shari Thomas (Pasadena); Laura Nomura (Riverside); Mario Ignacio (LADWP); Bill Fox (Vernon). <br />Others present were:Stephen Cole (Norton Rose Fulbright); Mike Berwanger, Dan Hartman (via <br />teleconference) and Will Frymann (Public Financial Management);Therese Savery (LADWP/SCPPA); <br />Vernon Oates, Rick Morillo, Daniel Hashimi and Steve Homer (SCPPA). <br />1.Investment Report <br />The Committee reviewed the Investment Report for the months ended April 30 and May 31, 2013. The <br />Committee recommended forwarding the reports to the Board for receipt and filing. <br />2.Financial Statements <br />The Committee reviewed the Quarterly Financial Statements for the quarter ended March 31, 2013. <br />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 March 31, <br />2013. The Committee recommended forwarding the reports to the Board for receipt and filing. <br />4.Gas Prepay Project Restructuring <br />PFM (Public Financial Management) updated the Committee on the progress of the debt restructuring <br />as proposed by Goldman Sachs. The Committee recommended forwarding a Resolution to the Board <br />approving all documents and amendments relating to the restructuring of the 2007 Gas Prepay <br />transaction. <br />5.Market and VRDO Update <br />The Committee received a market and VRDO status report from PFM. PFM updated the Committee on <br />recent interest rate movements and other related impacts on the Municipal Bond Market. All VRDBs <br />are performing well.
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