Meeting_Body
FINANCE, BUDGET, AND AUDIT COMMITTEE
MARCH 15, 2017
Subject/Action
SUBJECT: FY18 BUDGET DEVELOPMENT UPDATE
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE FY18 Budget Development Update.
Issue
ISSUE
Metro is continuing the development of its FY18 Budget. This is the second in a series of monthly updates to the Board on this process. This report will present and describe projects and programs that will account for more than half of Metro's FY18 budget. Further, these elements demonstrate the incorporation of Measure M priorities, which put additional requirements on existing staff and will require the creation of new projects and addition of new staff in FY18.
This report provides a budget development update on the following topics:
* Public outreach efforts
* Fare revenue projections, based on preliminary assumptions for ridership
* Projections for service levels for directly-operated Metro bus and rail services
* Budget and descriptive information on efforts to maintain a state of good repair for our bus and rail fleet and facilities, as well as for regional transit facilities, like Union Station.
* Transit construction projects, which are funded through Measures R and M
Discussion
DISCUSSION
Public Outreach Update
The prior FY18 Budget update report provided a comprehensive overview of the public and key stakeholder outreach efforts that are being included as part of the FY18 Budget development process.
An interactive Online Budgeting Tool, which engages the public in the budgeting process by walking users through a series of questions to garner input on their individual transportation priorities, was made available on February 12, 2017. The first round of stakeholder Budget workshops will be completed in March at the regularly scheduled Service Council Meetings, as well as at internal stakeholder meetings for the Technical Advisory Committee, Streets & Freeways Subcommittee, Bus Operations Subcommittee, Citiz...
Click here for full text