TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: Board Policy 311 - Budgets
ACTION ITEM
AGENDA PLANNING REQUEST: ☐
RECOMMENDED ACTION(S):
Title
Consider review of Board Policy 311 - Budgets, with no amendments.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
Having clear and concise financial policies helps District staff maximize use of existing and new revenues.
BUDGETARY/FISCAL IMPACT:
Reviewing this Board Policy creates no budgetary/fiscal.
BACKGROUND/RATIONALE:
Board Policy 311 sets forth the requirements for adopting and managing the District’s operating and capital budgets and also covers the special circumstance for hiring and retaining Operators, Maintenance, and Service employees above budgeted levels. The policy was last amended in 2022. Staff has reviewed the policy and does not propose any amendments at this time.
ADVANTAGES/DISADVANTAGES:
There are no changes to this Board Policy so there are no advantages or disadvantages.
ALTERNATIVES ANALYSIS:
None
PRIOR RELEVANT BOARD ACTION/POLICIES:
None
ATTACHMENTS:
1. Board Policy 311 - Budgets
Prepared by:
Richard Oslund, Director of Management & Budget
In Collaboration with:
Mary Archer, Budget Manager
Emily Heard, Manager of Capital Planning & Grants
Approved/Reviewed by:
Chris Andrichak, Chief Financial Officer
Aimee L. Steele, General Counsel/Chief Legal Officer