Metro - File #: 2022-0093

• File #: 2022-0093
• Type: Informational Report
• Status: Filed
• File created: 2/10/2022
• In control: Finance, Budget and Audit Committee
• On agenda: 3/16/2022
• Final action: 3/16/2022
• Title: RECEIVE AND FILE the Fiscal Year 2023 (FY23) Budget Development Status Update.
• Sponsors: Finance, Budget and Audit Committee
• Indexes: Access Services Inc., Active Transportation Program, Budget, Budgeting, Bus Acquisitions, Call For Projects, Capital Improvement Program, Capital Project, Congestion Reduction Demonstration, Construction, Formula Allocation Procedure, Grade separations, Grant Aid, High speed rail, Informational Report, Inglewood, Inglewood Transit Connector Project, Link Union Station, Los Angeles Union Station, Low-Income Fare is Easy (LIFE), Measure M, Measure R, Metro Rail A Line, Metrolink, Open Streets, Operations and Maintenance, Outreach, Program, Project, Project delivery, Public Safety Advisory Committee, Purchasing, Railroad commuter service, Rolling stock, State Of Good Repair, Strategic planning, Subsidies, Surveys, Transit operators, Transit Oriented Development, Transit Oriented Development Planning Grant Program, Transit System, Zero Emissions

Date	Action By	Action	Result
3/16/2022	Finance, Budget and Audit Committee

Meeting_Body
FINANCE, BUDGET, AND AUDIT COMMITTEE
MARCH 16, 2022


Subject
SUBJECT: FISCAL YEAR 2023 BUDGET DEVELOPMENT STATUS UPDATE
Action
ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE the Fiscal Year 2023 (FY23) Budget Development Status Update.

Issue
ISSUE

This is the second of a series of monthly updates to the Board on the FY23 Budget development process, culminating in a planned May 2022 Board Adoption.

The focus of this report is Metro's diverse portfolio of Capital projects, which includes the following capitalizable transit and transportation investments:
1. Transit Infrastructure Development (TID): planning and constructing new Transit and Highway Modernization projects for LA county as voter approved in Measure R and Measure M sales tax ordinances
2. Transit Capital Improvement Program (CIP): maintains and improves rolling stock (vehicles), assets, and infrastructure for the bus and rail transit systems. It consists of two main areas:
a) State of Good Repair (SGR) maintains Metro assets to ensure they are safe and reliable for daily operations. A core focus is the replacement of assets on a useful life basis.
b) Transit Improvement and Modernization (TIM) projects are one-time investments that aid transition of the Metro transit system and assets to the latest technological and environmental standards
Additionally, this report provides an overview of Metro's Regional Rail and Subsidy funding programs, and shares the latest update regarding Metro's comprehensive budget outreach efforts.



Discussion
DISCUSSION

As the FY23 Equitable Zero-Based Budget (EZBB) progresses, more detailed budget proposals by program are being developed, starting with the preliminary capital investment in this month's report. The Capital Investment made up 43% of the total agency's budget in FY22, followed by the Regional Rail and Subsidy program which in combination made up 20% of the total agency's budget. The FY23 Budge...