TO: AC Transit Board of Directors
FROM: Kathleen Kelly, Interim General Manager/Chief Executive Officer
SUBJECT: Board Policy 225 - Prohibition on Loans
BRIEFING ITEM
AGENDA PLANNING REQUEST: ☐
RECOMMENDED ACTION(S):
Title
Consider review of Board Policy 225 - Prohibition on Loans, with no recommended amendments.
Staff Contact:
James Arcellana, Interim Executive Director of Human Resources
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
The policy helps to ensure that AC Transit shall not make loans of District funds to employees, Board Officers, Directors, or other individuals.
BUDGETARY/FISCAL IMPACT:
There is no budgetary or fiscal impact associated with this report.
BACKGROUND/RATIONALE:
Per Board Policy 100 - Board Policies contained in Section 200 shall be reviewed as needed or at a minimum of every three years from the date of adoption or the last amendment. This policy was last reviewed four years ago.
Staff has reviewed the existing policy and determined that no changes are needed.
ADVANTAGES/DISADVANTAGES:
The advantage of maintaining the current policy is to ensure there is public notice of the prohibition of loans of District funds to anyone.
There are no disadvantages to maintaining the current language.
ALTERNATIVES ANALYSIS:
There are no alternatives to the course of action recommended in this report.
PRIOR RELEVANT BOARD ACTION/POLICIES:
This Board Policy was last updated in July, 2016.
ATTACHMENTS:
1. Board Policy No. 225 Prohibition on Loans
Prepared by:
Simone Pardorla, Management Analyst
Approved/Reviewed by:
Aimee L. Steele, General Counsel/Chief Legal Officer
James Arcellana, Interim Executive Director of Human Resources