Florida Cabinet Meeting Report: Mar. 11

On Tuesday, March 11, 2008, the Florida Cabinet (comprised of the Governor, Chief Financial Officer, Attorney General, and Commissioner of Agriculture and Consumer Services) convened in Tallahassee, Florida for a regularly-scheduled meeting. To view a complete copy of the agenda, click here.

Below is a brief recap of the items that were discussed.

Division of Bond Finance

The Cabinet approved two substantive items without discussion:

• Adoption of a resolution authorizing the competitive sale, not to exceed $586 million, of Florida Board of Education Public Education Capital Outlay Bonds, 2006 series D

• Approval of the competitive sale of $155 million worth of Department of Transportation right-of-way acquisition and bridge construction bonds, series 2008A, to the lowest bidder

Administration Commission

The Administration Commission withdrew its only agenda item, which related to the adoption of proposed rules by the Department of Management Services pertaining to a performance evaluation system for employees of the Senior Management Service. Thus, the Cabinet took no action regarding the Administration Commission.

Board of Trustees of the Internal Improvement Trust Fund

The Cabinet adopted two substantive items without discussion:

• An option agreement to acquire 1,148.49 acres under the Florida Fish and Wildlife Conservation Commission’s Fish and Wildlife Habitat Program from Kathleen C. Dunham and Shirley L. Cannon

• Acceptance of an assignment of option agreement to acquire 1,135.6 acres within the Northeast Florida Timberlands and Watershed Reserve Florida Forever Project from The Nature Conservancy

State Board of Administration (“SBA”)

The Cabinet heard testimony from General Bob Milligan, SBA Interim Executive Director, and Kim Ferrell, Chair of the SBA Audit Committee.

The Audit Committee, which hired outside consultants to assist in its efforts, is in the process of finalizing a comprehensive performance audit regarding investments and operations of the Local Government Investment Pool, Florida Hurricane Catastrophe Fund, Citizens Property Insurance Corporation and the Florida Retirement System. The Cabinet members expressed dissatisfaction with the length of time that the audit is taking. Also, Governor Crist made it clear that the outside firms should be used to investigate the activities of these programs, not merely to provide guidance.

The Cabinet approved one substantive item: the Fiscal Sufficiency of an amount not exceeding $586 million for State Board of Education Public Education Capital Outlay Bonds, 2006 Series (to be determined).

There being no further business before the Cabinet, the meeting adjourned.

Should you have any questions, please feel free to contact this office.

 

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