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Type:
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Informational Report
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Status:
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Agenda Ready
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On agenda:
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4/17/2019
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Final action:
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Title:
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RECEIVE AND FILE FY20 Budget Development Update.
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Indexes:
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Access Services Inc., Active Transportation Program, Budget, Budgeting, Bus Acquisitions, Bus Maintenance Projects, Capital Project, Construction, Crenshaw/LAX Transit Corridor Project, Debt, Ez Pass, Formula Allocation / Local Return, Formula Allocation Procedure, Grant Aid, Informational Report, Light rail vehicles, Local Returns, Local transportation, Los Angeles International Airport, Low-Income Fare is Easy (LIFE), Maintenance, Maintenance of way, Maintenance practices, Metro Blue Line, Metro Crenshaw Line, Metro Exposition Line, Metro Green Line, Metro Orange Line, Metro Purple Line, Metro Rail C Line, Metro Rail D Line, Metro Rail E Line, Metro Rail K Line, Metro Red Line, Operations and Maintenance, Outreach, Paratransit services, Payment, Pedestrians, Procurement, Program, Purchasing, Railroad facilities, Regional Transportation Planning Agency, Rolling stock, Safety, Security, State laws, State Of Good Repair, Subsidies, Test vehicles, Testing, Transit Oriented Development, Transit System, Vehicle fleets, Vehicle maintenance, Vehicle tests, Westside Subway Extension/Purple Line Extension Phase 2, Wheelchairs, Willowbrook/Rosa Parks Station, Zero Emission Bus (ZEB) Master Plan, Zero Emissions
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Meeting_Body FINANCE, BUDGET, AND AUDIT COMMITTEE APRIL 17, 2019 Subject SUBJECT: FY20 BUDGET DEVELOPMENT UPDATE Action ACTION: RECEIVE AND FILE Heading RECOMMENDATION Title RECEIVE AND FILE FY20 Budget Development Update. Issue ISSUE Metro is continuing the development of the FY20 Budget. This report is third in a series of monthly budget updates that will lead to a proposed budget for adoption in May 2019. In the past status reports, the FY20 Budget progress discussed the factors that impact sales tax forecast and cost inflation, as well as the process that guides the budget development to achieve the Vision 2028 goals in a fiscally sound manner. The second report detailed the proposed Transit Infrastructure Program, which includes Transit Construction, Highway Improvements and Regional Rail. The focus of this report will be on State of Good Repair (SGR), the Subsidy Funding Program and Debt Service. The SGR program provides the resources required to maintain existing Bus and Rail assets, purchase new Buses and Rail vehicles for replacement and service expansion, Operating system maintenance and upgrades, and maintenance/augmentation of other transit infrastructure. The Subsidy Funding Program represents direct funding to our regional partners to carry out their local transportation needs. Debt service is a financing tool to help deliver essential capital projects. Staff will also provide a status of continued public outreach efforts to obtain public and stakeholder input. Discussion DISCUSSION Metro State of Good Repair (SGR) Metro continues to provide the necessary resources to maintain the transit system in a state of good repair. In FY20, $491.9 million is allocated to maintain Metro's Bus, Rail, and critical information systems to manage and monitor system-wide performance. It also reflects maintenance of peripheral Transit Infrastructure. The $492 million estimate is based on planned project activities and reflect the cash flow... Click here for full text
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