Coastal Protection and Restoration Financing Corporation Governing Board

Name Coastal Protection and Restoration Financing Corporation Governing Board
Contact Person Mr. Chip Kline - Executive Assistant, Governor's Office of Coastal Activities
Mailing Address 1051 North Third Street, Suite 138
Baton Rouge, LA 70802
Phone Number 225-342-4367
Fax Number 225-342-5214
Board Email chip.kline@la.gov
Website www.coastal.la.gov
Legal Authority R.S. 39:99.28
Year Created 2007
Organizational Placement Office of the Governor
Purpose/Function The Coastal Protection and Restoration Financing Corporation has the authority to carry out the financing, purchasing, owning and managing of the offshore royalty revenues and offshore royalty revenue assets. The board works closely with the Coastal Protection and Restoration Authority.
Number of Entity Members: Number Authorized: 15
Number Currently Serving: 14
Number of Entity Meetings: Actual number in prior year: 1
Estimated number in current year: 1
The Entity is:
Active   Inactive   Not fully organized   Disbanded   Never fully organized
Do members receive per diem, salaries, and/or travel expense reimbursements?
Yes   No
Excluding member per diem, salaries, and travel expense reimbursements, does the entity receive or expend funds?
Yes   No
Entity Member Per Diem:
  Amount Authorized: $0      per meeting   per meeting day   per day spent on board business   None

Total entity member per diem:
  Prior year actual: $0.00
  Current year budgeted: $0.00
Entity Member Salaries:
  Prior year actual: $0.00
  Current year budgeted: $0.00
Entity Member Travel Expense Reimbursement:
  Prior year actual: $0.00
  Current year budgeted: $0.00
Number and Type of Authorized Employee Positions:
Classified: 0
Unclassified: 0
Part-time: 0
Entity Fiscal Year End:
4/30         7/31         10/31         Other (identify date)
6/30         9/30         12/31         None
Participation in State Employee Benefit Programs:
    Employees:
       participate in state retirement system(s) and/or state group insurance program(s)
       do not participate in state benefit programs

    Members:
       participate in state retirement system(s) and/or state group insurance program(s)
       do not participate in state benefit programs
A state agency provides: (Check all that apply and identify the state agency)
Per Diem Payments          State Agency:
Travel Reimbursements    State Agency:
Other (explain)    State Agency:
Is this entity a budget unit or included within a budget unit of the State of Louisiana as defined by LSA-R.S. 39:2?
   Yes    No
  If yes, identify the budget unit and the budget schedule number below:
  Budget Unit Name:
  Budget Schedule Number:
Notes Restrictions:
ยง99.29. Governing board; membership; terms; compensation and expenses; chairman and vice chairman; quorum; employees, agents; limitation of
liability
A. The board of the corporation shall exercise all powers, rights, and duties conferred by this Subpart or other provisions of law upon the corporation.
The board shall consist of the governor, the state treasurer, attorney general, president of the Senate and speaker of the House of Representatives,
chairman of the Coastal Protection and Restoration Authority, secretary of the Department of Natural Resources, secretary of the Department of
Transportation and Development, or their designees, and seven members appointed by the governor with one member appointed from each
congressional district and the remaining member or members appointed from the state at large. The members of the board who are appointed by the
governor shall represent the state's diverse population as near as practicable, and shall have a background and significant experience in financial
management and investments. The members of the board appointed by the governor shall be subject to Senate confirmation and shall serve at the
pleasure of the governor for terms of four years each, or until their successors shall have been appointed and qualified, as designated by the
governor. Any appointment to fill a vacancy on the board shall be made for the unexpired term of the member whose death, resignation, or removal
created such vacancy. Members on the board may be appointed to an additional term.
B. The members of the board shall not receive compensation by reason of their membership on the board or attendance at the meetings thereof.
The appointed members of the board shall receive a per diem allowance to be established by the board in an amount not to exceed the amount of per
diem authorized for members of the legislature for attendance at meetings of the corporation or committees thereof or for
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