Santa Barbara Metro Transit Dist

The board reviewed cash reports and conducted a public hearing regarding the AB 2561 vacancy rate reporting. Discussions included real property negotiations for sites on Calle Real and North San Antonio Road, the adoption of the final draft Operating and Capital Budget for the upcoming fiscal year, and a report on the bid results for a renewable diesel supply contract. The meeting concluded with a general manager's update on district activities.

The Board of Directors meeting addressed several operational and financial agenda items. Key topics included a public hearing regarding the AB 2561 vacancy rate report, the approval of updates to the Public Transportation Agency Safety Plan, and the adoption of the final draft Operating and Capital Budget for the upcoming fiscal year. The Board also reviewed third-quarter performance reports, received information regarding renewable diesel supply contract results, and authorized the General Manager to execute a professional services agreement for property and casualty insurance broker services. Additionally, real property negotiations were discussed during a closed session.

The Board reviewed and approved cash reports. Additionally, the Board entered into a closed session to discuss real property negotiations regarding price and terms of payment for property located at 4678 Calle Real and 149 North San Antonio Road.

The board reviewed the cash report and accounts payable register covering the specified period. The report details the beginning and ending balances for the money market account, including various deposits from passenger fares, Measure A transfers, and interest income. Disbursements outlined include payroll, 401(k) pension transfers, workers' compensation payments, and various operational accounts payable such as bus parts, utilities, insurance, IT services, and professional consulting. Additionally, the document presents a summary of accounts receivable receipts, including federal transit assistance and reimbursements.

The Board discussed the renewal of Excess Workers' Compensation insurance with Public Risk Innovation, Solutions, and Management. The discussion focused on the premium projection for the upcoming fiscal year, which reflects changes to the premium development methodology that considers payroll, claim history, and loss volatility. The Board reviewed financial data comparing premium costs over the past four fiscal years and noted the impact of the District's Low Safety pool rating on overall premium positioning.