The meeting was called to order at 6:04 by Pi Silverstein. The committee welcomed new member and student representative Diana Alfaro.

Members Attending: Pi Silverstein, Marco Renella, Lawrence Grace, Tony Ko, Douglas Marshall, Diana Alfaro

Others Attending: Steve Kinsella, Joe Keeler

Minutes – 12/07/07
MSC (Bolll/Grace) unanimous to approve the 12/07/07 minutes.

MSC (Grace/Renella) unanimous to approve the agenda.

None

1. Item(s) presented at board meetings for information or approval by the Board of Trustees:

January 8, 2008
• Summary of General Obligation Bonds Sale
• Citizens' Oversight Committee Appointment
• FY 06-07 Measure E Bond Audit Reports
• Various Capital Project Change Orders
• Notice of Completion for Interim Housing Phase I Project

February 12, 2008
• Measure E Bond Quarterly Financial Status Report as of December 31, 2007
• Kitchell Project Assignment Amendment (PAA) for Cosmetology & Business Buildings Modernization Buildings Project
• BFGC Architect Planners, Inc. (BFGC) Project Assignment Amendment (PAA) for Cosmetology & Business Buildings Modernization Buildings Project and First Amended PAA to Phase I Site Improvements Project
• Bid for PBX, Telephones, and Voice Mail Project
• Various Capital Project Change Orders
• Notice of Completion for Phase I Site Improvement Project
• Notice of Completion for Science Buildings Asbestos Abatement Project

Joe Keeler reported that the information items are broken up by month and are routinely presented to the Board of Trustees. Joe will research and get back to the committee regarding Pi Silverstein's question about the salaries connected to the ERP computer system discussed at the last meeting.

1. Committee Member Vacancies (update by Steve Kinsella from Dec.17 2007 meeting)

Steve Kinsella reported that a minimum of four positions need to be filled (2 at large, 1 senior organization, 1 taxpayer representative). If members know of anyone who would like to serve, please contact the Steve. The openings will also be advertised. Steve stated that when the new committee is formed, our attorney will be invited to give an initial orientation. Pi Silverstein asked Steve to check with the Board of Trustees about having the Committee Chair become an ex officio member for a set period of time, perhaps 6 months or 2 meetings after their term expires.

2. 2007 Report to Community

Committee members reviewed the report. Steve reported that the bond attorney added our bond issues so we ended up in their $80 million bracket of sliding fees which saved costs. Joe reported that we used UBS who is both a buyer and a seller but also hired a financial consultant as a second expert in this area. The consultant renegotiated and we ended up saving the taxpayers approximately $3 million in interest. Pi suggested the savings to the taxpayer would make a good newspaper article. Marco Renella suggested that a paragraph written by Steve and Joe be included in the report to the community.

3. Update Measure E Activities

(a) Measure E Construction Updates Joe reported that updates are posted on the web and emailed campus wide.

1. 2007 Report to Community

MSC (Renella/Grace) unanimous to approve the 2007 report to the community with the addition of a paragraph written by Steve and Joe describing the $3 million savings in interest to the taxpayers. Douglas Marshall recommended that it also be put in the local papers to reach a different audience. Steve will follow up with the PIO to issue a press release.

2. Set Next Meeting Dates

Possible meeting dates are June 23 or June 30. Suzanne Bulle will follow up with committee members to finalize the date.

1. Adjournment

MSC (Renella/Marshall) unanimous to adjourn at 6:33 p.m.