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Type:
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Informational Report
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Status:
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Filed
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On agenda:
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4/17/2025
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Final action:
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4/17/2025
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Title:
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RECEIVE AND FILE the Fiscal Year 2026 (FY26) Budget Development Status Update.
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Indexes:
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7th Street/Metro Center Station, Accessibility, Audit, Budget, Budgeting, Bus Acquisitions, Capital Improvement Program, Cleaning, Cleanliness (Graffiti Abatement), Congestion Management Program, Customer Experience Plan, Customer service, Design build, Equity Focus Communities, Gold Line Foothill Extension 2B, Grant Aid, Homeless Outreach, Informational Report, Joint development, Law enforcement, Los Angeles Union Station, Maintenance, Maintenance practices, Metro ExpressLanes, Metro Rail A Line, Metro Rail B Line, Metro Rail C Line, Metro Rail D Line, Metro Rail K Line, Metro Transit Ambassadors, Miracle Mile, NextGen Bus Study, Operations and Maintenance, Outreach, Pilot studies, Plan, Pomona, Procurement, Program, Program Management, Public private partnerships, Ridership, Rolling stock, Safety, Safety and security, Security, State Of Good Repair, Strategic planning, Transit buses, Transit Community Public Safety Department, Transit safety, Westside Subway Extension/Purple Line Extension Phase 1, Wilshire/Fairfax Station, Wilshire/La Brea Station, Wilshire/La Cienega Station, Zero Emission Bus (ZEB) Master Plan
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Meeting_Body FINANCE, BUDGET, AND AUDIT COMMITTEE APRIL 17, 2025 Subject SUBJECT: FISCAL YEAR 2026 BUDGET DEVELOPMENT STATUS UPDATE Action ACTION: RECEIVE AND FILE Heading RECOMMENDATION Title RECEIVE AND FILE the Fiscal Year 2026 (FY26) Budget Development Status Update. Issue ISSUE This report continues a series of monthly updates on the FY26 Budget development process, culminating in a planned May 2025 Board Adoption. The report focuses on the key areas of Metro's Transit Operations and Maintenance (O&M) Program and Transit Capital Improvement Program (CIP) to maintain transit infrastructure in a state of good repair. These two programs combined make up 37% of Metro's total budget. The projects in these programs rely on federal funding. With the uncertainties surrounding the federal funding program, this preliminary budget assumes no changes in the availability of these funds. As more information becomes available, service delivery will continue to be the highest priority as we conduct a comprehensive assessment to evaluate funding, schedule, and scope to mitigate the impact of the potential loss of federal funds. Additionally, an overview of Congestion Management, General Planning and Programs, and Oversight and Administration, which make up about 5% of Metro's total budget are included to complete the program budget discussions for the FY26 Budget development process. A recap of the latest update regarding Metro's comprehensive budget outreach efforts is also included in this report. Background BACKGROUND This preliminary budget serves as the annual expenditures required to advance Transit Operations' plans, fulfill Operations and Maintenance needs, repair and upgrade through the Capital Improvement Program (CIP), and enhance customer experience. While the Operations and Maintenance and Capital Improvement Program budgets reflect this annual cash flow, Capital Improvement Program is controlled at a Life of Project (LOP) budget level. ... Click here for full text
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