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4. Minutes to Approve VIII u um i uulluuu m luii m IIIIIIIII � �L,i... 6. Approval of Minutes— February 13, 2014 Meeting Chair M/S Christensen/Roberts to approve the minutes. Motion carries with Mr. Callagy abstaining. 7. Approval of the Administrative Budget for 14-15B Period (January—June 2015) Resolution No. 14-04 Audrey Ramberg Ms. Ramberg introduced herself and said she was very pleased to help shepherd the needs of the Oversight Board in her capacity as Interim Finance Director. She briefly explained the administrative budget. M/S Navas/Aguirre to approve the administrative budget via ge resolution. Motion carried unanimously. 8. Approval of ROPS 14-15B (January—June 2015) Resolution No. 14-05 Audrey Ramberg Ms. Ramberg provided the report and explained d- . .•out the paymen -dule and repayment specifics. She highlighted some differences and went throw •ecific areas of the doc . Member Christensen inquired about the areas in red and Ms. Ramberg said that t - - .re areas for which sta• -eking resolution with the State. Ms. Ramirez, Assistant City Attorney, added so orm. « .bout the liti•. • regarding the Legal Aid Society matter and she provided a stat •date. She ad•-• - Legal Aid Socie . pealed the original decision. Legal Counsel Labadie said th. ill be a lengt .cess— six to nine months and it could take up to one to one year and half for a possibl- •a - .tion. Ms. ensen summarized that it looks like the red items are basically place holders. Chair Roberts provided so « -xt on the . er for t - «- -fit of •- -w members. He added that this Board had joined a nu «° • ._ - .-s in purs • liti• • - oun , and Mr. Labadie said that across California over 150 ag- 9 have - ..rked on - .roces . Ramirez explained the two issues related to the lawsuit and the -• ce of a s and wh. - takeholders are. She provided details on the funds and the legal framework regar• • he iss - Ms. Christ- gat the • re•• .sh b. . es was different than this one and Ms. Carolyne Kerans ed the •- . surro « g the bo - - and how it had to be reflected in the document. While the boy . ine has not c . •-d, th- e had to b. per direction from staff at the State Department of Finan Member Nava ired about th «.ss thro■ payments and Ms. Ramberg stated that was still an outstanding debt but the city . rsuing legal . en. M/S Callagy/Navas to :•« eve th- - elution. Motion carried unanimously. Ms. Ramberg thanked the - staff, in particular Carolyne Kerans— Senior Accountant, and others in that department for their work in p -paring the financials related to the Oversight Board. 9. Oral Communications from the Successor Agency Contact Audrey Ramberg Legal Counsel Labadie announced that the Conflict of Interest Code for the Oversight Board is being adopted in conjunction with the City of Redwood City Conflict of Interest Code, and there are no changes to the filers who have to file their Statement of Economic Interests Form. Ms. Ramberg gave the Board an update on the transferable assets matter and how the State Controller's Office will be receiving a strong rebuttal and a response is due tomorrow.