Video & Transcript Research : 'rate base'
Page 43 of 500
NM
New Mexico 2025 Regular Session
IC - Mortgage Finance Authority Act Oversight Sep 2nd, 2025
Mortgage Finance Authority Act Oversight Committee
Transcript Highlights:
- It has its issuer credit rating.
- So, in terms of keeping the 30-year loans and bonds outstanding longer rates, short-term rates, at least
- Rates and also if interest rates are stable. And that's what Ms. Chu was mentioning.
- So you the interest rate scenarios.
- We were talking about possible lower interest rates for That have been waiting for those interest rates
MN
Minnesota 2025 1st Special Session
Cmte on Rules - Subcommittee on the Federal Impact on Minnesotans and Economic Stability - 10/15/25
Transcript Highlights:
- 2026 rates. 2026 rates.
- So we make rates based on current law, not based on speculation about what might happen.
- ,<00:15:05.360>
not <00:15:05.600>based <00:15:05.839>on rates based on current - law, not based on rates based on current law, not based on speculation<00:15:06.560>
about <00 - ." rates." rates."
AL
Alabama 2025 Regular Session
Alabama Joint Legislative Budget Hearings (PM) Feb 6th, 2025
Transcript Highlights:
- the rate study, it was based on an average rate.
- When we went back and calculated based on individuals and their individual IAP scores, the rate increased
- These are the four foundational harms for a phone-based childhood. harms for a phone-based childhood
- They had to continue paying a per-member, per-month rate regardless of the utilization rate.
- rate.
TX
Transcript Highlights:
- And lastly, it supports fair taxation by basing tax rates calculations on realistic collectible revenues
- And the taxing units adopt their tax rates based off of what's on the certified roll, and then you have
- This is the major portion of what we base our tax base on. Members, any questions? Very good.
- BRAC comes in and looks at the quality of life for the service members that live on base and off base
- off base.
MN
Minnesota 2025-2026 Regular Session
Committee on Health and Human Services - 03/03/26
Health and Human Services
Transcript Highlights:
- So, the future projections are based on just a lower base.
- just a lower projections are based on just a lower base. base. base.
- FY 2025 actuals update the base for tax collections, and the rate of growth remains similar across the
- /c> base for tax collections and the rate of base for tax collections and the rate of growth<00:43:13.839
- These actual collections are reflected in future years, and the rate of growth from that updated base
TX
Transcript Highlights:
- The rate is of 8.93%, but the actual limit can move around. based on what you did with the supplemental
- the full array of Medicaid services based on that individual's qualification into Medicaid. rates with
- So they're paid a rate. rate that the state has established through our rate-setting process. fee-for-service
- for reimbursement rates today based off what the treatment is and yeah we include a number of rate tables
- I think with rate modernization, moving to that new rate structure.
AR
Arkansas 2026 Regular Session
EDUCATION COMMITTEE - SENATE AND HOUSE Jun 1st, 2026
Transcript Highlights:
- But we'll start with university-based alternative programs, followed by non-university-based alternative
- Again, a survey is just based on who answers it.
- and alternative not IHE-based.
- and alternative not IHE-based.
- and alternative not I-H-E-based.
Summary:
The committee first approved the May 18 meeting minutes and then received a presentation from Legislative Audit on Arkansas Department of Education grant distributions. Auditors explained that the fiscal year 2025 report summarizes $4.6 billion in grants from state, federal, and miscellaneous sources, across school districts, charter schools, education cooperatives, and other entities, and that the report only shows amounts distributed, not how recipients ultimately used the money. Members asked about specific recipients and programs, including ClassWallet, Economics Arkansas, and CDC surveillance funding; department staff clarified that the Economics Arkansas grant is written into special language and that the CDC-related funding supports student surveys used by state agencies. Questions also focused on bonus and incentive programs such as master principal and National Board Certified teacher bonuses, with department staff saying the bonuses are generally tied to completion of the program or certification rather than classroom performance, though they would follow up on details.
The committee then heard a Bureau of Legislative Research update on Consumer Price Index projections from Moody’s Analytics and S&P Global. Dr. Carlos Silva explained the difference between CPI-U and core CPI and said the estimates show inflation slowing over the forecast period, with some near-term variation between the two data providers. Members asked about the historical accuracy of prior projections, and he said the forecasts generally tend to move toward about 2 percent over time, though recent shocks have caused earlier estimates to understate actual inflation.
The bulk of the meeting was devoted to the final adequacy report on teacher recruitment, retention, and salaries. BLR staff reviewed Arkansas teacher demographics, shortage areas, educator preparation pipelines, licensure exceptions, survey results from teachers and principals, and teacher support programs. They reported that Arkansas had about 32,800 teachers and 473,000 students in 2025, with an average of 11.9 years of experience and a slight increase in National Board Certified teachers. The report found shortages in multiple subject areas, especially special education, math, science, foreign language, and social studies, and identified 65 districts as high-need geographically. Survey results showed school leadership as the strongest positive factor in recruitment and retention, while workload and salary were the biggest negatives; 30 percent of responding teachers said they were considering leaving the profession. The committee also reviewed teacher salary data showing a statewide average salary of $60,254 in 2025, Arkansas ranking 45th nationally by NEA methodology, and a long-term inflation-adjusted decline in district salaries, though LEARNS Act increases improved the trend. Members asked for additional follow-up information on survey methodology, alternative licensure costs, coursework, incentives for ESL and special education endorsements, exit data, and how salary comparisons are calculated.
FL
Transcript Highlights:
- It's in clearance rates.
- a similar strong rate in the present day.
- Some of the clearance rates that were showing ahead of time were above 100%.
- on a sliding scale, based on income.
- And most of the programs require participant fees that are based on a sliding scale, based on income.
Summary:
The Judiciary Committee met with a quorum present and heard several Office of the State Courts Administrator presentations. Judge Mark Mahan discussed the impact of 2023’s HB 837 litigation reforms on court operations, explaining that the law’s changes to comparative negligence, filing deadlines, collateral source evidence, premises liability, bad faith claims, attorney’s fees, and offer-of-judgment rules triggered a major March 2023 civil filing surge. He described how filings tripled statewide, with especially large increases in auto negligence and premises liability cases, and outlined how circuits responded through active case management, added resources, and workflow changes. Members asked whether the bill’s immediate effective date contributed to the surge and whether clearance rates would normalize over time; Judge Mahan said the court system viewed its response as a success and expected rates to settle as the backlog is worked through.
The committee then received a presentation on problem-solving courts from Jennifer Grandal and Judge Nina Richardson. Grandal reviewed Florida’s drug courts, mental health courts, veterans courts, dependency and early childhood courts, noting statewide best-practice standards, annual reporting requirements, funding sources, and data collection systems. Judge Richardson gave a local perspective on treatment courts, emphasizing that they address underlying mental health and substance use issues, rely on judicial supervision and sanctions as well as incentives, and help participants achieve recovery and avoid reoffending. She said the programs are accountable, transparent, and effective, and thanked the Legislature for continued support.
Finally, Judge Rachel Nordby and Eric McClure outlined the judicial branch’s legislative agenda. Nordby summarized the Supreme Court workgroup’s recommendations to expand Florida’s vexatious litigant law, including broader coverage, fewer qualifying adverse cases, a longer lookback period, and a public records exemption for stricken defamatory or sham material. McClure then highlighted additional agenda items: modernizing the duty-judge statute, expanding senior management retirement eligibility, authorizing additional judgeships based on workload studies, removing the statutory cap on court-ordered nonbinding arbitration compensation, protecting appellate clerks’ personal information, allowing alternative authentication for certain judicial notarizations, and creating a hearsay exception for guardian ad litem reports and testimony. No votes were taken, and the committee adjourned after member introductions and staff introductions.
TX
Transcript Highlights:
- It is a transaction-based tax.
- local rate of 2% for a maximum combined state and local rate of 8.25%.
- Salary per employee capped at. $450,000. taxes based on the tax rate as applies to the calculated margin
- The tax rate is $2,500. on debt service and a tax rate to fund maintenance and operations as determined
- total school district. rate.
FL
Florida 2025 Regular Session
November 18, 2025 - 08:00 AM
Transcript Highlights:
- rate processing the rate making process could not keep up with the rate need that existed due to accumulation
- In the rate.
- are finally at any given time, rates can change every rates different.
- We're charging rate based on expectations of really by in 2016, based on that time period, the rate,
- the rate setting allotments was was basing that off of the time period were companies had at done very
MN
Minnesota 2025-2026 Regular Session
Committee on Health and Human Services - 02/24/26
Health and Human Services
MN
Minnesota 2025-2026 Regular Session
House Human Services Finance and Policy Committee 3/12/25
Human Services Finance and Policy
Transcript Highlights:
- Rate exceptions are based on the exceptional need of the individual that the DHS framework rate does
- processes of establishing payment rates processes of establishing payment rates and<00:41:04.280
- well-being rate exceptions are based<00:41:54.200>
on <00:41:54.400>the <00:41:54.640>< - housing support room and board rate housing support room and board rate add-on<00:43:35.240>
- I think based on the facts that we've been provided, the rate exceptions were about 4%; that was the
FL
Florida 2026 Regular Session
Appropriations Committee on Criminal and Civil Justice Jan 15th, 2025
Appropriations Committee on Criminal and Civil Justice
Transcript Highlights:
- to incident-based data collection.
- What we've had to do, because of the vacancy rates in the panhandling, or the vacancy rates in north
- rate, over a three-year period.
- gives us a fairly low recidivism rate.
- We are not a time-based system, meaning that a youth does not go to a program based on a sentence of
Summary:
The committee met to hear an overview of the Appropriations Committee on Criminal and Civil Justice budget area and then received performance-measure presentations from the Department of Corrections, the Commission on Offender Review, and the Department of Juvenile Justice. Staff reviewed the roughly $7.4 billion criminal justice and judiciary budget, noting major funding areas such as corrections, law enforcement, victim services, courts, and due process, along with recent investments in prison health care, security equipment, fentanyl enforcement, court staffing, and juvenile justice salaries and education programs.
Secretary Dixon of the Department of Corrections described staffing and population pressures, including growth in inmate population, overtime-driven deficits, and the opening of additional housing units. He emphasized the department’s use of performance measures and highlighted reforms such as incentivized prisons, administrative management units, reentry planning, faith-based programs, and expanded education and vocational training. Members asked about teacher hiring, public defender pay parity, fentanyl funding, staffing capacity, and the role of the National Guard; Dixon said teacher vacancies had improved, public defenders had received comparable pay increases, fentanyl funding would be addressed further by FDLE, and the Guard had helped stabilize staffing.
The Commission on Offender Review reported on parole, conditional release, addiction recovery supervision, and revocations, saying its recidivism/success rates had improved over a three-year measurement period. Senator Rouson pressed the commission on clemency and pardons, saying that work was omitted from the presentation and asking for backlog and case data; the commission said it did not have those figures on hand and would follow up. The committee also discussed a conditional medical release pilot study, and members questioned the report’s conclusion that no suitable elderly inmate population could be identified, asking what criteria were used and whether stakeholders were consulted.
Secretary Hall of the Department of Juvenile Justice outlined the agency’s prevention-to-residential continuum and its emphasis on education, data-driven decision-making, and evidence-based programming. He said salary increases had reduced vacancies, juvenile arrests and residential commitments had fallen sharply over time, and tools such as civil citations, risk assessments, and quality-improvement reviews were being used to guide placements and services. Hall also described the department’s use of dashboards, monthly data check-ins, and the dispositional matrix to improve outcomes and reduce recidivism.
TX
Transcript Highlights:
- appropriate tax rate.
- Uh, it is a transaction-based tax.
- state and local rate of 8.25%.
- So to, to, the, the tax is based on the tax rate as applies to the calculated margin.
- The tax rate is to fund debt service and the tax rate to fund maintenance and operations as determined
KY
Kentucky 2025 Regular Session
Interim Joint Committee on Families and Children (10-22-25)
Transcript Highlights:
- So, we expanded that year, and we continue to set our rates so that our community-based teachers make
- We then raise our rates in the community-based sector and in the school-based sector to make sure that
- so that our continue to set our rates so that our community-based<00:08:01.920>
teachers <00:08 - c> sector<00:08:17.360>
and rates in the community-based sector and rates in the community-based - rates down. rates down.
Summary:
The committee first approved the minutes from its September 24 meeting after a motion and second. It then heard a presentation from New Mexico Early Childhood Education and Care Secretary Elizabeth Gragensky on that state’s early childhood system and planned universal child care rollout. She described how New Mexico consolidated multiple prenatal-to-age-five programs into a cabinet-level department, expanded pre-K to a longer day, and uses a cost model to set reimbursement rates intended to cover true provider costs, including wages, benefits, occupancy, food, and reserves. She also said the state created an Early Childhood Trust Fund and secured a constitutional amendment to dedicate 0.60% of the land grant permanent fund to early care and education, with the department’s budget growing from about $400 million in 2021 to just under $1 billion this year.
Gragensky said families can begin applying for universal child care on November 1, with participation voluntary for both families and providers. She reported that New Mexico is aiming to expand capacity by adding 1,000 registered home providers, 120 group homes, and about 55 more centers, supported in part by a $13 million low-interest loan fund and a request for an additional $20 million. She said the state has seen growth in early childhood professionals, including a 64% increase over the last three to four years, and pointed to reported outcomes such as a 21% increase in literacy and a 75% kindergarten readiness rate, while noting that some measures are new and baseline comparisons are still being developed.
Members asked about the funding sources, provider profitability, workforce development, and measurable outcomes. Gragensky said the program is designed to support provider sustainability through rates tied to true cost and includes allowances for sick leave, vacation, benefits, and reserves. She also said maternal labor force participation is 10% higher than the national rate and attributed that in part to child care access. The committee then moved to a separate presentation by Department for Community Based Services Commissioner Lisa Dennis and Division of Family Support Director Roger McCann on anticipated cuts to TANF and SNAP, beginning with an overview of TANF as a federal block grant with a fixed annual Kentucky allocation of about $180.7 million.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Financial Services Jun 21st, 2026 at 10:30 am
Joint Committee on Financial Services
Transcript Highlights:
- Having a commercial rate floor that matches our PPS rate would result in $4.3 million annually to CHP
- Finally, a commercial rate floor matching our PPS rate would immediately place CHP Berkshires in a stronger
- per-visit rates.
- So, CPMs provide comprehensive evidence-based care for...
- So, CPMs provide comprehensive evidence-based care for So, CPMs provide comprehensive, evidence-based
Summary:
The committee held a public hearing with testimony on several health care bills, with most of the discussion focused on primary care access, community health center reimbursement, midwifery and birth centers, telehealth, hospital-at-home, direct primary care, and trans-inclusive health care access. Chair Feeney and Chair Murphy opened by noting the large number of signups and asking testifiers to keep remarks brief because of time constraints. Legislators and witnesses repeatedly emphasized that Massachusetts’ primary care system is under strain and that federal policy changes and reimbursement gaps are worsening financial pressure on providers.
On community health centers, Representative Blay, Senator Lovely, Michael Curry, Bethany Keeley, Jag Deep Trevetti, Sean Cahill, and Christina Severin all supported H. 1096/S. 711, which would require commercial insurers to pay federally qualified health centers at least the MassHealth prospective payment system rate. They argued that commercial plans currently reimburse health centers below Medicaid rates, threatening sustainability, staffing, and access, especially as federal cuts and coverage losses could increase uncompensated care. Testifiers said the bill would stabilize health centers, protect primary care access, and not cost the state money.
A second major topic was H. 1117/S. 784 on sustaining birth centers and the midwifery workforce. Senator Lovely, Senator Miranda, Emily Anesta, Rebecca Orden, Catherine Rushworth, Nishira Burrill, Joel Sutherland, Rachel Blessington, Joelle Ward, and others described the 2024 maternal health omnibus as an important first step, but said birth centers and midwives still face low reimbursement, workforce shortages, and financial instability. They urged reimbursement parity, a workforce development fund, and support for freestanding birth centers, citing improved outcomes, lower C-section rates, better patient experience, and racial equity in maternal health. Several speakers shared personal birth stories and said the bill would help preserve and expand birth options in communities like Roxbury, Worcester, and the North Shore.
The committee also heard support for H. 1343 on direct primary care from Dr. Garofalo, Dr. Altman, Dr. Nair, Stephanie Cameron, Dr. Haley Moke-Blessed, and others, who said current insurance rules force patients to use a separate in-network primary care doctor for referrals and sometimes prevent physicians from dispensing medications. They argued the bill would reduce delays, administrative burden, and costs while improving continuity of care. In addition, Dr. Miklides and Sue Stempeck supported H. 1141 on hospital-at-home parity, saying the model has strong outcomes and should be reimbursed at the same rate as brick-and-mortar hospital care. Heather Myers and Katrina Cook testified on telehealth and digital health equity, urging broader coverage for asynchronous care, remote monitoring, interpreter services, and digital literacy supports. SEIU Local 509 supported H. 1188/S. 681 on trans-inclusive health care access, saying it would remove arbitrary insurance barriers to gender-affirming care. No votes or committee actions were taken during the hearing.
KY
Kentucky 2025 Regular Session
Interim Joint Committee on Appropriations and Revenue (8-20-25)
Transcript Highlights:
- So they have a graded level of shares, and they're basing it upon a payment error rate.
- Higher rate of 10% of error rate state pays 15%. That's on a base of about a billion two.
- Higher rate of 10% of error rate state pays 15%. That's on a base of about a billion two.
- >
rate. - Higher rate of 10% of error rate share.
Keywords:
Meeting Start 00:00:00
FY 2025 Budget Close Out 00:02:55
Impressions of H.R. – 119th Congress 00:28:15
SNAP Payment Error Rates 00:37:05, 958, all
Summary:
The committee first established a quorum, approved the July minutes, and recognized Jennifer Hayes of the Department of State Budget Director for her retirement and long service. Secretary Hicks then presented a review of fiscal year 2025 closeout for the general fund and road fund, explaining that the general fund ended with a $313 million surplus and the road fund with a $61 million surplus. He attributed the general fund result to strong corporate income and LLC tax receipts, investment income, and lower-than-budgeted spending, while noting that individual income tax and sales tax underperformed estimates. He also described how the general fund surplus was allocated, with $62 million used for necessary government expenses and $251 million deposited into the budget reserve trust fund, which remained at historically strong levels. For the road fund, he said the surplus would be deposited into the Department of Highways construction account, and he highlighted record motor vehicle usage tax receipts despite lower motor fuels tax revenue due to a rate decline.
Members asked questions about the pass-through entity tax, delayed filing deadlines, THC beverage sales, and income tax collection from undocumented workers. Hicks said the pass-through entity tax remains difficult to model because of timing issues and the first year’s unusual filing pattern, and that staff are still working with the Department of Revenue and other states to improve forecasting. He said the delayed filing deadline likely would not require a major restatement and that any related receipts would still be counted in fiscal 2026. On THC beverages, he said the issue would be considered in the next forecasting cycle. On the undocumented-worker question, he said withholding may capture some of the revenue but referred broader collection efforts to the Department of Revenue.
The committee then shifted to an overview of the federal reconciliation act’s potential impact on the next biennial budget, with Hicks and Commissioner Lisa Dennis focusing on Medicaid and SNAP. Hicks said the Congressional Budget Office estimated roughly $900 billion in federal savings over 10 years, driven in part by work or community engagement requirements for the Medicaid expansion population and limits on state-directed payments. He emphasized that CMS still must issue regulations to define how the state-directed payment reductions will be calculated, making the exact fiscal impact uncertain. He referred members to a prior Medicaid Oversight Advisory Board presentation for more detail, and the discussion remained informational with no votes or formal actions taken on the federal changes.
TX
Transcript Highlights:
- I think what has happened, because it's a community-based system, it's a community-based system.
- I had a question about rates, specifically the current rates and how that has changed over the years.
- Because when community-based care was set up, they were paid based on legacy operations.
- On creating rate structures that are based on those cost reports.
- negotiate rates for kids.
Keywords:
DFPS, Department of Family and Protective Services, child protective services, foster care, child welfare, Family Code, conservatorship, managing conservator, parental child safety placement, authorization agreement, temporary authorization order, child abuse, child neglect, placement reporting, court-ordered removal, investigation, family preservation, transparency, public reporting, data reporting
FL
Florida 2025 Regular Session
September 23, 2025 - 09:00 AM
Transcript Highlights:
- Millage rates have decreased 28%.
- The budget I prepare for the City Commission is based on the current millage rate as a maximum cap.
- values, so that our tax base times tax rate simply equals revenue, property tax revenue for us, which
- rate, okay?
- In statute, it's based on the formula it used to be based on.
Summary:
The Select Committee on Property Taxes heard first from city representatives through the Florida League of Cities, who argued that property taxes are a stable local revenue source that funds core services such as police, fire, parks, public works, and stormwater work. Casey Cook emphasized that cities are optional governments with widely different tax bases and service levels, that exemptions shift the burden to fewer taxpayers, and that transparency already exists through TRIM notices, public budgets, and local hearings. Sarah Campbell of Fernandina Beach, T. Michael Stavris of Winter Haven, and Stephen O’Kee of Port St. Lucie described their budget processes, the share of general-fund revenue coming from property taxes, reserve policies, debt and capital planning, and the impact of inflation, minimum wage increases, and personnel costs. They all said local governments need predictable revenue and that any property tax changes would require careful consideration of replacement funding or service reductions.
Members questioned the city panel about whether homebuyers are clearly informed about city versus county taxes and services, the role of HOAs, how many lobbyists cities employ, reserve levels, average salaries, and whether utility revenues are used only for utility purposes. The panel said TRIM notices, realtor listings, and city websites provide tax information; HOAs generally do not provide emergency services; lobbyists help local governments track Tallahassee legislation; reserves vary by city and fund; and utility revenues are generally restricted, though some cities use limited transfers. Members also asked about revenue replacement if ad valorem taxes were reduced or eliminated, and the panel said options would likely include user fees, service cuts, or other local revenue shifts. The chair also asked about public safety consolidation, and the response was that such decisions are local and may shift costs rather than create true savings.
The committee then heard from county representatives after an overview by the Florida Association of Counties’ Davin Suggs, who framed counties as shared partners with the state and emphasized the gap between rising market values and the shrinking share of taxable value after exemptions and assessment limits. He said counties face a mismatch between revenue based on taxable value and expenses driven by real-world costs, and noted that most counties either held millage steady or lowered it without reaching rollback rates. He also highlighted that property taxes are only one part of county revenue, with charges for services and intergovernmental revenue often larger in some counties, and that public safety at the county level includes more than law enforcement, such as EMS, emergency management, inspections, and corrections.
Deborah Manzo of Okeechobee County described a fiscally constrained rural county with limited staff, a county-supported airport, heavy reliance on property taxes for the general fund, and major cost pressures from inflation, insurance, retirement, and state and federal mandates. She said the county lowered millage slightly over recent years but still depends on multiple revenue sources and special assessments, and she flagged Medicaid, medical examiner costs, and possible firefighter workweek changes as significant concerns. Bay County Administrator Mark McQueen said his county’s budget is shaped by Hurricane Michael recovery, non-discretionary obligations, and rapid growth; he described ongoing FEMA reimbursement delays, substantial borrowing to cover disaster costs, and continuing interest expenses while the county waits for reimbursement. The county panel was still in progress when the transcript ended.
LA
Louisiana 2026 Regular Session
Public Retirement Systems Actuarial Committee Jun 22nd, 2026
Transcript Highlights:
- So it did not base. That one was without re-amortization.
- So it did not reduce the payment because of that base.
- It just pays off that base a little bit earlier.
- So the projected contribution rate for beginning 2026, So the projected contribution rate for beginning
- So the 30.05% is an aggregate contribution rate.
Summary:
The Public Retirement System Actuarial Committee met on Monday, June 22, with a quorum present and approved the prior meeting minutes. There was no public comment. The main item was an actuarial update from Ms. Johnson on LASERS, prompted by House Bill 312 of 2026, which appropriated about $145 million to LASERS and required the committee to revise the projected fiscal year 2027 employer contribution rate to reflect the funds received.
Ms. Johnson explained that $87.6 million was applied to the original amortization base, paying it off, and the remaining $57.9 million was applied to the experience account amortization base. As a result, the projected aggregate employer contribution rate for fiscal year 2027 was reduced from 32.51% to 30.05%, a decrease of 2.46%, with the projected employer contribution amount revised to about $738.7 million. She also noted that the original amortization base balance would be zero by June 30, 2026, while the experience account amortization base would continue to be paid down over time.
Committee members asked about the longer-term impact of the changes, including a question about projected savings in 2036. Ms. Johnson said the later-year savings would depend on future actuarial experience and investment performance, but the projected UAL payment in that year would be lower under the revised schedule. The committee then moved to adopt the revised projected fiscal year 2027 LASERS contribution rate of 30.05% by plan, the motion was seconded, and it passed without opposition. The meeting then adjourned.