. >> good morning tilly cheng executive director. my report is on your desk. it's only been a few short weeks but we've got a full report for you today at the federal level we noticed that the house of representatives passed a 2 year budget agreement which reduces the likely hood of another shut down which is always good news and shows highway programs however will not be subject to can you cuts. it is positive. at the state level cap and trade discussions continue. the legal hurdles have been cleared or 2 of them have been cleared and there also appears to be an expected state budget surplus so renewed energy and see if the governor might be will to repay some of the cap and trade funds so we'll continue to work with the san francisco city family and folks around the state on that effort. here region ly the cap and trade discussions will be happening tomorrow at mtc continuing on the framework that was introduced last month that we discussed in my last report talks about a very significant investment in the 3 major transit operators bart and muni and ac trans

as you know colleagues after a vetting process we appointed tilly cheng to her executive director positionlook forward to discussing later on our agenda. 2013 also was a big year for local and regional transportation planning with the adoption of plan bay area the first regional plan to respond to statewide policy and investment policies that tie trapgs transportation to housing goals. last month brought conclusion of the mayor's task force report and much needed revenues for transportation and we'll continue to discuss and shape as we move into the new year and on today's agenda is the adoption of the san francisco transportation plan or sftp and it's our city's strategic transportation blue print that sets our investment priorities for policy discussion for years to come i want to thank staff and our sftpc and