Metro - File #: 2020-0033

• File #: 2020-0033
• Type: Informational Report
• Status: Agenda Ready
• File created: 12/30/2019
• In control: Finance, Budget and Audit Committee
• On agenda: 2/19/2020
• Title: RECEIVE AND FILE the Fiscal Year 2021 (FY21) Budget Development Update.
• Sponsors: Finance, Budget and Audit Committee
• Indexes: Airport Metro Connector (AMC) Station Project, Alignment, Arts District, Azusa, Budget, Budgeting, Bus rapid transit, Capital Project, Construction, Construction Support, Crenshaw/LAX Transit Corridor Project, Division 20, Gold Line Foothill Extension 2B, Informational Report, Light rail transit, Los Angeles International Airport, Los Angeles Union Station, Measure M, Measure R, Metro Crenshaw Line, Metro Exposition Line, Metro Green Line, Metro Purple Line, Metro Rail A Line, Metro Rail B Line, Metro Rail C Line, Metro Rail D Line, Metro Rail E Line, Metro Rail K Line, Metro Red Line, Metro Vision 2028 Plan, Metrolink, Program, Rail transit, Railroad commuter service, San Fernando, San Fernando Valley Service Sector, San Fernando Valley subregion, Tunnel supports, Twenty-eight by '28 Initiative, Westside Subway Extension/Purple Line Extension Phase 1, Westside Subway Extension/Purple Line Extension Phase 2, Westside Subway Extension/Purple Line Extension Phase 3

Meeting_Body
FINANCE, BUDGET, AND AUDIT COMMITTEE
FEBRUARY 19, 2020

Subject
SUBJECT: FISCAL YEAR 2021 BUDGET DEVELOPMENT UPDATE

Action
ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE the Fiscal Year 2021 (FY21) Budget Development Update.
Issue
ISSUE

This report is the second in a series of budget development updates leading up to the FY21 Budget adoption for Board consideration in May 2020. This update will highlight the FY21 preliminary budget to achieve Metro Vision 2028 of the Transportation Infrastructure Development Program, which includes Transit Expansion, Highways, and Regional Rail.
Discussion
DISCUSSION

With the passage of Measure M in Fall 2016, Los Angeles County voters secured long term funding for transportation infrastructure development to improve transportation and ease traffic congestion. Since then, Metro's budget has continually grown to expand and improve Transit and Highway systems throughout the County.
The preliminary FY21 Transportation Infrastructure Development Program budget is projected at $2.4 billion, and is reported under three major groups:
1) Transit Expansion: includes Light Rail, Heavy Rail, Bus Rapid Transit Construction and early planning efforts before construction;
2) Highways: includes the frontend planning, preliminary engineering and project implementation support for Highway Improvement as approved in Measure M, Measure R, as well as non-Measure R/ Measure M highway related projects;
3) Regional Rail: includes Metro Regional Rail projects and Metrolink Operations / Capital Program funding.


Figure 1: FY20 vs FY21 Transportation Infrastructure Development Budget


1) Transit Expansion
Metro continues to expand LA County's rail network, and a full slate of transformational rail projects are advancing in the construction and planning pipelines across multiple years. The cash flow need for transit construction in FY21 is proposed at $1.6 billion (Figure 2).
The Transit Planni...