Metro - File #: 2019-0630

• File #: 2019-0630
• Type: Informational Report
• Status: Agenda Ready
• File created: 8/7/2019
• In control: Planning and Programming Committee
• On agenda: 11/20/2019
• Title: RECEIVE AND FILE information on the 2019 Short Range Financial Forecast planning model, which identifies the high-level planning and programming of funds.
• Sponsors: Planning and Programming Committee
• Indexes: Budgeting, Call For Projects, Capital Project, Construction, Debt, Funding plan, Grant Aid, Informational Report, Long range planning, Long Range Transportation Plan, Measure M, Measure R, Metro Vision 2028 Plan, New Starts Program, Plan, Program, Project, Ridership, Short Range Transportation Plan, Strategic planning, Transportation Improvement Program

Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
NOVEMBER 20, 2019
Subject
SUBJECT: 2019 SHORT RANGE PLANNING MODEL UPDATE

Action
ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE information on the 2019 Short Range Financial Forecast planning model, which identifies the high-level planning and programming of funds.

Issue
ISSUE

The Long Range Transportation Plan Financial Forecast (LRTP Financial Forecast) and 2019 Short Range Financial Forecast (2019 SRFF), which is the first 15-years of the LRTP Financial Forecast, is Metro's plan for funding capital that is updated and presented to the Board annually. The 2019 LRTP Financial Forecast will be used to program funds in the Transportation Improvement Program (TIP) and as the financial baseline for the pending LRTP update.

Background
BACKGROUND

Metro maintains a 40-year LRTP Financial Forecast, which is a financial plan focusing on all Metro capital projects and programs. The plan assumes known and potential local, state, and federal revenue to meet the capital needs.

The 2019 SRFF represents the first 15-years of the LRTP Financial Forecast. The 2019 SRFF includes Board-approved spending included in the adopted transportation plans (2009 LRTP, and 2014 Short Range Transportation Plan, or "SRTP"), Measure R and Measure M sales tax ordinance Expenditure Plans, separate Board action, and the adopted budget, using the baseline construction schedules that have been approved by the Board, including those that are identified in the Measure M Expenditure Plan. Spending on bus and rail operations is estimated by Metro staff assuming the same level of bus service as today and future rail ridership based on when new rail lines open and service need based on rail ridership projections.

Revenues from Metro's local sales tax measures and state and federal grants are estimated by Metro staff using supporting forecasts from economists and state and federal agencies. The 2019 SRFF programs ...