https://public-meetings.burke.services/metrolink Metrolink Audit and Finance Committee meeting transcripts. public-meetings Fri, 10 Oct 2025 00:00:00 +0000 https://public-meetings.burke.services/metrolink/2025-10-10-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2025-10-10-audit-and-finance-committee.html Fri, 10 Oct 2025 00:00:00 +0000 The committee held its final Audit and Finance Committee meeting, receiving updates on audit quality assessment, ridership, farebox revenue, financial results, and cash position. The CEO also reported on the ongoing investigation into a recent Union Station train incident. https://public-meetings.burke.services/metrolink/2025-07-11-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2025-07-11-audit-and-finance-committee.html Fri, 11 Jul 2025 00:00:00 +0000 The committee handled safety instructions, then took up regular calendar items including minutes approval, San Clemente stabilization budget carry-forward funding, the FY2026 audit plan, an SB1 TCEP resolution, and May 2025 financial and ridership results. The CEO reported same-day train cancellations tied to a crew mark-off situation affecting several lines. https://public-meetings.burke.services/metrolink/2025-05-09-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2025-05-09-audit-and-finance-committee.html Fri, 09 May 2025 00:00:00 +0000 The committee handled regular calendar finance, grants, audit, fuel hedging, receivables, investment, ridership, revenue, and operating reports, including action items for LC TOP and State Rail Assistance funding resolutions. The CEO also updated the committee on emergency work to protect the San Clemente rail corridor. https://public-meetings.burke.services/metrolink/2025-04-11-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2025-04-11-audit-and-finance-committee.html Fri, 11 Apr 2025 00:00:00 +0000 The committee reviewed and unanimously advanced Metrolink's FY2025-26 budget transmittals for the systemwide and Arrow Service budgets, then received financial results through February 2025. Members also heard updates on ridership growth, on-time performance, Olympics-related forecasting, and recent safety and host-railroad workshops. https://public-meetings.burke.services/metrolink/2025-03-14-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2025-03-14-audit-and-finance-committee.html Fri, 14 Mar 2025 00:00:00 +0000 The Audit and Finance Committee reviewed and approved the FY2025 mid-year operating budget amendment, received reports on badge deactivation controls and year-to-date financial performance, and discussed federal Olympic preparedness funding risks. The CEO and committee members also noted CFO Arnold Hackett's planned departure and thanked him for his service. https://public-meetings.burke.services/metrolink/2025-02-14-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2025-02-14-audit-and-finance-committee.html Fri, 14 Feb 2025 00:00:00 +0000 The Audit and Finance Committee reviewed finance, audit, grants, fuel hedging, receivables, investment policy, ridership, revenue, and operating performance reports for late 2024 and early FY2025. Members approved the 2025 investment policy as revised and received updates on customer appreciation activities, ridership trends, grants, and operational performance. https://public-meetings.burke.services/metrolink/2024-10-11-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-10-11-audit-and-finance-committee.html Fri, 11 Oct 2024 00:00:00 +0000 The Metrolink Audit and Finance Committee received audit updates, reviewed fiscal year 2025 financial, ridership, revenue, and operating results, and heard public comment on audit and financial matters. The CEO reported strong ridership recovery and upcoming optimized schedule implementation while highlighting serious on-time performance issues involving BNSF and Union Pacific freight operations. https://public-meetings.burke.services/metrolink/2024-07-12-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-07-12-audit-and-finance-committee.html Fri, 12 Jul 2024 00:00:00 +0000 The Audit and Finance Committee approved minutes, recommended a budget amendment for San Clemente landslide project carryforward funds, approved the FY2025 annual audit plan, and reviewed year-to-date ridership and financial results. Members also deferred the collections escalation policy to the full board and asked staff to bring back deeper performance metrics and peer-agency comparisons. https://public-meetings.burke.services/metrolink/2024-06-14-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-06-14-audit-and-finance-committee.html Fri, 14 Jun 2024 00:00:00 +0000 The Audit and Finance Committee approved meeting minutes, recommended adoption of the FY25 agency and Arrow Service budgets, and received updates on grants, ridership, revenue, operating results, smart crossing technology, and safety recognitions. Discussion focused on budget assumptions, the shift toward regional rail, zero-emission locomotive technology, student ridership, and current financial performance. https://public-meetings.burke.services/metrolink/2024-05-10-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-05-10-audit-and-finance-committee.html Fri, 10 May 2024 00:00:00 +0000 The committee received safety guidance, approved regular calendar action items, and received several audit and finance reports covering LC Top funding, audits, corrective actions, fuel purchasing, investments, accounts receivable, and FY2024 financial results. The CEO reported continued post-COVID ridership growth and recent record ridership days. https://public-meetings.burke.services/metrolink/2024-04-12-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-04-12-audit-and-finance-committee.html Fri, 12 Apr 2024 00:00:00 +0000 The committee reviewed Metrolink and Arrow FY2024-25 preliminary budget transmittals, adopted a working capital fund policy recommendation, and received audit and financial results updates. Members focused on budget uncertainty, member agency support, capital cash flow, billing timeliness, ridership and revenue performance, and upcoming federal testimony. https://public-meetings.burke.services/metrolink/2024-03-08-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-03-08-audit-and-finance-committee.html Fri, 08 Mar 2024 00:00:00 +0000 The committee received public comment on Metrolink’s optimized schedule timing, approved prior meeting minutes, and reviewed audit, corrective action, grant, and financial updates. The CEO also reported new federal earmarks for safety and infrastructure projects, and committee members discussed the upcoming CEO evaluation process. https://public-meetings.burke.services/metrolink/2024-02-09-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-02-09-audit-and-finance-committee.html Fri, 09 Feb 2024 00:00:00 +0000 The Audit and Finance Committee reviewed Metrolink finance items including the 2024 investment policy, accounts receivable, quarterly investment and fuel reports, and six-month ridership, revenue, and operating results. The CEO also reported on the Student Adventure Pass, storm-related service impacts, San Clemente emergency work, Transit Equity Day, and Customer Appreciation Day. https://public-meetings.burke.services/metrolink/2024-01-12-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2024-01-12-audit-and-finance-committee.html Fri, 12 Jan 2024 00:00:00 +0000 The Audit and Finance Committee reviewed Metrolink audit results, corrective action status, internal audit activity, grant activity, and financial performance through November 2023. Members also discussed ridership and fare revenue gains, the December systemwide closure work at Union Station, executive staff departures, and disposition of older locomotives. https://public-meetings.burke.services/metrolink/2023-10-13-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2023-10-13-audit-and-finance-committee.html Fri, 13 Oct 2023 00:00:00 +0000 The committee handled its regular calendar, including approval of prior minutes, Arrow service funding, fuel purchase audit results, grants, DBE/SBE participation, and financial and ridership results. The CEO reported ridership growth, Clean Air Day results, the Student Adventure Pass, Antelope Valley Line service expansion, and recognition of SunLine Transit. https://public-meetings.burke.services/metrolink/2023-09-08-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2023-09-08-audit-and-finance-committee.html Fri, 08 Sep 2023 00:00:00 +0000 The committee received safety information, handled a regular calendar of audit and finance reports, and approved a fiscal year 2023-2024 budget amendment after extended discussion of the Oxnard settlement funding. The CEO reported on his two-year anniversary, Train Fest, and Rail Safety Month, followed by brief committee and chair comments. https://public-meetings.burke.services/metrolink/2023-07-14-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2023-07-14-audit-and-finance-committee.html Fri, 14 Jul 2023 00:00:00 +0000 The Metrolink Audit and Finance Committee heard public comment, reviewed and approved the FY2024 internal audit plan, received audits on IT software asset inventory and HR recruitment processes, and reviewed May 2023 ridership, revenue, and operating results. The CEO reported restored San Clemente service and added Ventura County service for the X Games, and committee members offered brief comments. https://public-meetings.burke.services/metrolink/2023-06-09-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2023-06-09-audit-and-finance-committee.html Fri, 09 Jun 2023 00:00:00 +0000 The committee reviewed Metrolink finance items, including the FY24 budget, Arrow service interim appropriations, year-to-date ridership/revenue results, accounts receivable, and investment reports. The CEO also reported on unsuccessful locomotive grant funding and emergency work planned for the San Clemente track segment, and committee comments noted the upcoming LA Metro regional connector opening. https://public-meetings.burke.services/metrolink/2023-05-12-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2023-05-12-audit-and-finance-committee.html Fri, 12 May 2023 00:00:00 +0000 The committee reviewed Metrolink finance, audit, fuel, and grants updates, including unanimous approval to transmit the proposed FY2023-24 budget to member agencies. The CEO also reported progress toward restoring San Clemente corridor service after slope stabilization work near Casa Romantica. https://public-meetings.burke.services/metrolink/2023-04-14-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2023-04-14-audit-and-finance-committee.html Fri, 14 Apr 2023 00:00:00 +0000 The committee reviewed Metrolink budget timing, ridership and revenue performance, grant activity, and the internal audit department’s external quality review. Members also heard CEO updates on restored Orange County service, Earth Day free rides, and executive staffing, plus committee comments about the CEO evaluation and upcoming board topics. https://public-meetings.burke.services/metrolink/2023-03-10-audit-and-finance-committee.html https://public-meetings.burke.services/metrolink/2023-03-10-audit-and-finance-committee.html Fri, 10 Mar 2023 00:00:00 +0000 The committee reviewed Metrolink and Arrow ridership, revenue recovery, and operating results through January 2023, including lower-than-budget recovery and expense savings expected to offset shortfalls. Members also briefly discussed recent storm impacts, upcoming weather, and committee attendance matters.