you for the total of revenues for the fiscal year. and we are expecting total revenues of 109.9 million. and the majority of the revenues that you can see in blue are for sales tax and that is $88.3 million and this represents $84.4 percent of the entire revenues in red you have the federal grant funding of 10.5 million and represents 9.6 percent and the majority of funding here is for the ybi improvement project and entering into the construction phase and in the green color you have the vehicle registration fees are the program and it is very similar to what we received in the fiscal year 1213. and 4.7 million and this represents 4.3 percent of the revenues for the year. and in the purple you have other revenues of 2.7 million and this represents 2.3 percent. and the other revenues includes, the first loan

repayment from tita of approximately 2.6 million and the loan that we have issued back in 2008 and this was for the prelim engineering stage of the project and in light blue you have regional grant and program funding and this is 1.5 million and represents 1.4 percent of the pie chart and this includes our 736,000 of the tsta fundings that we be receiving from the air quality management district. and in orange you will have the state grant funding and here we are for 1.2 million and this represents 1.1 percent and this line item includes 629 thousand of the state funds for the island project and 491,000 of ppm projects from the state. and light purple we have interest income from the city's pool and the three operating accounts the authority holds and this is 948,000 and that 0.9 percent of the total pie chart. and on the next slide, we have

a ten-year look of sales tax revenue, and you can see here in the fiscal year 04/05, we have craoepd up to high of 79.6 million in 7, 8. and then we took a dip in fiscal year 9/10 and aamounted to 68.2 million and you can see on the chart that we are slowly catching up over the years and now we are projecting an all time high of 88.3 million for the physical year, 13, 14. >> could you take a minute and explain a little bit about why there was a dip? and the projected increase for the fiscal year 13/14. >> so back in 08/09. through fiscal year 9/10. the sales tax revenue were coming in based on the spending limits incurred in the city and county of san francisco. the projectione aligned

with what the projections the city and the controller's office and the city and county of san francisco have come up with. and these are based on just the out look of the revenues that we intend to incur, this covers like construction revenues, and covers any turnover on our property and includes retail sales. and restaurant businesses, and any projections that would fall into this category and it has been slowing by climbing up and you can see that it is recovering in the city and county of san francisco. >> and again, our city and county has a good amount of tourists coming in and we were not affected like the other counties in terms of sales tax revenue because of this. >> thank you very much. >> is there any other questions i will move over to the expenditures for the year? >> we have a total of $245.1 million. and as you can see in the blue,

96.2 percent, which is 35.8 million represents our capitol projects and the top five largest projects included in this budget are the mtas and the 60-foot trolly coaches, 40 to 60-foot buses and those are radio communication system and dispatch and control and communication project. and also, we have one of the largest projects of the ta and downtown extension project and in blue, i am sorry, in red we have personnel expenditure and this is 5.5 million and represents 3.2 percent of the entire budget for expenditures. and this is salaries for the 32 full time positions here at the authority and in green we have the non-personal, and this is 2.2 million and represents 0.8 percent of the budget, audit fees and legal fees and it rents, and office supplies and

phones and anything to run the office. and in purple we have the debt service, expenditures this is the cost to run our 200 million commercial paper line of credit. this represents 0.7 percent of our budget. and in addition to our expenditures we also assume $470 million bond issuance, and as we do go forward with the bond this year it will be brought back to the finance committee for approval before any steps are taken further. and the next on the screen, we have our fiscal year, 13/14, budget and i would like to welcome our interim director to the podium. >> thank you. >> and good morning, acting executive director and... (inaudible) they are all here in case you have questions about the work program. i encourage you to read attachment b. it leaves you on page 50. it is a very detail and full

work program for an agency of just 32 people. you will excuse the director who is attending the park meeting at the moment. >> i am going to give you highlights, by the sections which are policy and programming, capitol projects planning technology services and, finance and administration. and you will find as you go through this, there is a tremendous amount of overlap and we are not very siloed organization and so whatever you need to get done who has the capabilities and we can work with each other across the agency >> one of the largest cross agency efforts this year has made several presentations to the plans and programs committee on it is the update of the prop k strategic plan and the five year programs and that is a mouth full, but shows and answers this is how the authority works with the

project sponsors and the project to decide how to spend the sales tax dollars. and for all of the categories, the resourcing by the safety and we get to have a list of projects and we will see what is coming been the pike. and it is a huge effort that is under way and you should see the updates, of drafts and proposals and the projects coming towards the plans and committee in june and july. and now, the programming section is year-round processing allegations and amendment requests and involved with oversight with close to 200 open grapts that we have with the various sponsor and also do it with the capitol service section. and on a smaller scale you will see, we are busy with the ongoing administration and oversight of the prop a, and the transportation fund for clean air and the role in the management agency and we work

with mtc and the sponsors and helping to insure that we will meet the deadlines associated with them up there which are different dollars that this agency prioritizes through the mtc. >> now, this slide two of the rec programs for this section is one that it is the update of the 2014 state transportation improvement program and he was talking a little bit about the state budget which is (inaudible) over the past few years but it has been a long trend of desmating the funds, and it is one of the erratic forces. and so our board has adopted as our top priority, several, and that includes the projects like the central subway and the extension and our projects so you work very closely with the

california transportation commission trying to advance the funds for those projects and also work closely are the planning section on follow up to the regional transportation plan and sustainable community strategy and just a few of those things and there are many programs and many revised programs throughout that process and we are working with the mtc and the sponsors to try to shape the criteria. and so we are working on the particular planning section to develop a pipeline of san francisco projects to compete for new fund programs since as the transit initiative program. >> all right. and let me on this last page, for this section is we also do some roles that no one else wants to do and this is the second to last year of the federal grants and at the last minute they needed a sponsor and so we stepped in as the fiscal agent for that and have done a lot of assistance with them in helping you comply with all of the deadlines and help to bring out the electric

vehicles and the charges to the city. and also working very closely as a good segway to the capitol project section with the mta on funding and financing for the project has a full funding plan as you are aware and there are sources including the step that i mentioned and there are commitments and the money is not enhanced and so working at the federal level and the state level to get the money as soon as we can and to work on the bridge financing to keep the project going. >> capitol project section is embarking on unchartered territory for the authority. we had a couple of months ago a presentation on the (inaudible) island interchange improvement project and these are all of the crazy, short, curves and ramps connecting the island to the oakland bay bridge and it is a difficult project and it required quite a lift in terms of funding a project and this is a work that we are taking on at the request of the mayor's office and the treasure island development authority, working with them. this year you will see the

final design work on the project and the right-of-way acquisition and permits. the parkway, as you are familiar with phase one that was the traditional project, working on the item and we have handed over operations and maintenance of that part of the facility, and the private partner of the project. and the demolition is under way on phase two and you should have seen pictures of that and we can bring them to you, there is a lot of work going on coordinating with the buildings and the cal transand the various schedules in that project. the capitol project section and a lot of key projects and the (inaudible) circulation study. and there are also coordinating with the mayor's office with the other san francisco agencies to bring consensus on san francisco input to things that are related to high speed

rail and this effects very closely, and given the blended system approach and a slight oversight and the technical support to the subway, and transit center cal tran, and these are three of the significant tough projects in prop k and one of the things that i will mention for this section is a cross sectional ef tthe board which is providing technology enhancements to stream line grapts management and oversight those for authority and project sponsor and being done through a web based port tal and capitol projects is leading that primarily with the technology services section. okay, the other section, defies my ability to speak quickly and so i will continue here it is a very full work program for the planning section. you will see here almost every study, whether we are lead or co-lead, we are working in close partnership with the relevant city and sometimes

private entities and sfmta is frequently our partner and this will be a big year getting out on the yard and another item on the plans and programs agenda later this morning on the vaness is the wonderful milestone to finish the environmental and the sfmta where they take over leadership of the project and the finalized design and implement and construct ta whole bunch-innovative project and this one is a mouth fund, (inaudible) management partnership looks at way to leverage the private sector, funding in the transportation sector and this builds on the muni and provide resource and support to private sector employers who are providing shuttles and other forms of management to see if we could pool those resources and effectively, serve their needs with the existing revenues that

are available. let's see, very big effort that hopefully will come to a close this year is the san francisco transportation plan update. this is our long range plan for the county guiding our investment for transportation priorities in the city. and it is also very exciting to work with the mayor's task force and which is looking at a need and possible revenue sources for san francisco and working hand in hand and we are about to come out with the draft investment scenario for the san francisco plan and here is what we have financially con stained a set of projects which is based on the mtc's renewal forecast and we are looking at a couple of levels what else could we do? >> that is a huge offer that is coming on the workshop on pay 30th that will provide more information at the board meeting. and this also mentions that we doing a lot of follow up to the regional transportation plan

and just one of those is the investment and growth strategy and working with the planning department and it goes on the land use side to try to help to facility the development of the priority development areas throughout the city and also to identify the capitol projects that can become candidates of the next cycle of when the area grand funds. i am almost done here. these last two sections have one slide but it just belies the importance, and the technology and finance and administration section and provides support related to all of the other sections and i am seeing the technology and service section that this group is being able to travel demands and early nationally recognized innovative model that is supporting many efforts as well as consultants throughout the city. and this is managed by over (inaudible) and works wonder and does all of the it support and the portal that is helping on that and my street, sf.com

and the interactive project map where the public can go and put in the address and see everything on a map and pull of the information about the cost, funding and the current status and link to the project web page, and last but not least, finance and administration section, this is everything to make sure that we can actually function like an agency and two major efforts this year, it would include, implementing new software and this may sound extremely boring things but a difficult effort and one that we hope will do a lot to stream line the processes by enabling the county system to talk better to the over site system and we will need to issue long term debt and the plan update will give us a better look at when we needs the tax funds, how fast the contracts are award and build. and with that i would be happy to answer the the last bullet,

tell me about what that is going to look like? >> absolutely. let me have cynthia explain that and they have done innovative things on that front. >> thanks. >> we are going to dbe and lbe and the authority has its own business and enterprise and local business enterprise program and for each contract we request any applicants to have at least a minimum of requirement. while this requirements or percentages to require it are governed by federal state or regional projects. if it is not, we will impose something, a percentage before awarding the contracts. now, in terms of what it looks like for this current year, we record this number annually on the annual report and so you will see in number four, the fiscal year, for calendar year,

2013, next year and we have just had fiscal year, 2012 come before you in january. and so in terms of percentages, this program has been pretty good out reach of people. and we have often reached out by hiring a consultant to inform any small businesses of what the authority does, and what kind of projects were coming up, and we had something back in january that brought in over 80 small businesses. and showing them what kind of projects that they may possibly bid on and other firms that they could possibly partner with to bid on our projects. and in terms of how successful this program is, we have had percentages of more than 20 to 25 percent in lbe, lde participation. >> what was the percentages last year? >> i don't have that right now, but we could pull that up for

you. or send that to your office. but, all of them would be like over 20 percent. >> and what is the base? >> the base is taken a look at any project that did impose a requirement for sbe, lbe, dbe percentages and we will take a look at how invoices come in, we will input them into the system, how much per each invoice did the vendor pass the works down to a subcontract their qualified. and every quarter we take a look at that number if it does not meet what it expect it to meet we inquire with the vendor what is going on. >> has there been an indense in the last three years where we have not met that requirement? or not met that bench mark >> if it does not meet that, we do speak to the vendors. >> my question is has it

happened? >> if so when, and like >>t has n fferent needs of the project. push >> we could provide that information to you specifically, but generally it tends to happen in the more specialized areas since we are getting consultant service to support a travel demand forecasting model it may be that there are few that can do that and what i want to do for just a reminder is that big pie chart, the majority of it 97 percent is the funds that we give out to other agency and so we let out relatively few contracts and with that we took a new approach this last year and i think that it was a couple of months ago where we did a look ahead and where we got the information on the rfps and everybody come and i believe that we had (inaudible) and associates there to educate people and how to bid on upcoming contracts and that is something that we tend to do on a regular basis.

>> thank you. >> thank you. >> are there any other questions on this information item? >> okay, seeing none, let's go to public comment. is there any member of the public that would like to comment on item number five? >> okay. seeing that there is no public comment, public comment is closed. may i have a motion? may i have a motion? >> thank you. excuse me? >> forward to the board. >> so the motion made by supervisor or commissioner tang,... >> yes. this is an information item. >> thank you. >> so, without objection, we move on. >> item number six please. >> introduction of new items this is an information item. >> does anyone have any new items that they would like to introduce? >> seeing none is there a member of the public that would like to talk about item six? >> no public comment. seeing none, public comment is closed. madam clerk could you call 7.

>> public comment, >> all right. this is the public comment, and general public comment. seeing none. public comment is closed. >> madam clerk, what is next? >> item number 8, adjournment. >> fantastic. thank you everyone, this meeting is adjourned.

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would you please call the roll. >> commissoner courtney: here >> commissioner vietor:here >> commissioner moran:here >> commissioner moller caen:here >> before we