Dana Fehler

The Board of Directors ratified actions taken by the Auditor-Controller regarding investments and expenditures, including accepting an investment report. They authorized an amendment to an inter-agency agreement for local bus services in Marin County. The Board approved the award of a contract for boom lift rental services for bridge maintenance and awarded contracts for new vessel propulsion systems and engine components. Additionally, the Board renewed investment management authority for the upcoming fiscal year, amended investment policy rules, and received communications and engagement letters regarding the annual financial and single audits.

The committee meeting addressed the approval of contract awards for specialized equipment and infrastructure projects. Specifically, authorization was granted for the rental of an A62T boom lift with an operator to facilitate under-deck access at the Golden Gate Bridge, including the establishment of a contingency budget. Additionally, the committee moved to approve contract awards for the purchase of engines, gearboxes, drivelines, and waterjet propulsion systems for the Liwa Vessel 1 and 2 project.

The committee discussed economic conditions, including labor market trends, interest rates, and the impact of tariff decisions on inflation and production costs. The committee reviewed the status of the district's investment portfolio, focusing on diversification, income metrics, and risk mitigation strategies. Additionally, the committee addressed the renewal of the marine insurance program, detailing the various coverage types such as protection and indemnity, hull and machinery, general liability, excess marine liability, and pollution coverage, along with adjustments to premiums and deductibles.

The committee meeting covered a ratification of previous actions by the auditor-controller, a review of the investment report, an annual review and update of the board's investment policy, and the receipt of the independent auditor's communications and engagement letter for the annual financial and single audit. Additionally, the committee received a status report on the fiscal year 2025-26 budget and a review of traffic tolls and transit patronage.

The committee meeting addressed several operational and administrative items. Key discussion topics included the report of district advisory committees and the authorization of the first amendment to the interagency agreement with Marin Transit for local fixed route bus services. The amendment covers a one-year contract extension, updates to the revenue hour rate for the 26-27 fiscal year, and the reassignment of financial responsibility for major maintenance components. Additionally, the committee received a monthly report on bridge traffic and transit ridership, with updates on a coordinated outreach campaign for upcoming transit service changes.