Metro - File #: 2023-0223

• File #: 2023-0223
• Type: Public Hearing
• Status: Passed
• File created: 3/23/2023
• In control: Board of Directors - Regular Board Meeting
• On agenda: 5/25/2023
• Final action: 5/25/2023
• Title: CONSIDER: A. ADOPTING the proposed FY24 Budget as presented in the budget document (provided in a separate transmittal and posted on metro.net); 1. AUTHORIZING $9.0 billion annual consolidated expenditures to achieve goals and objectives set forth by the Board adopted mission and goals; 2. AUTHORIZING a total of 10,842 FTEs, with 8,943 Represented FTEs and 1,899 Non-Represented FTEs; 3. AUTHORIZING an average 3.5% performance-based merit increase and a cost-of-living adjustment (COLA) of 2.5% on July 1st, 2023, and 2.5% on January 1st, 2024, for Non-Represented employees. The COLA will adjust the Non-Represented salary pay grade bands accordingly. The wage increases for Represented employees, in accordance with the pre-negotiated Collective Bargaining Agreements, is 3.5% plus step progression increases; 4. APPROVING the Life of Project (LOP) budgets for new capital projects; new capital projects with LOP exceeding $5.0 million are presented in Attachment B; 5. AMENDING the p...
• Sponsors: Board of Directors - Regular Board Meeting
• Indexes: 7th Street/Metro Center Station, Accessibility, Agreements, Airport Metro Connector (AMC) Station Project, American Rescue Plan Act of 2021, Assembly Bill 468, Audit, Budget, Budgeting, Capital Project, Central Los Angeles subregion, City of Los Angeles, Cleaning, Cleanliness (Graffiti Abatement), Congestion Reduction Demonstration, Construction, Cost-of-living Allowance, Customer Experience Plan, Customer service, Debt, Division 20, Funding plan, Government funding, Grant Aid, Labor, Light rail transit, Maintenance, Metro Rail A Line, Metro Rail B Line, Metro Rail D Line, Metro Rail E Line, Metro Rail L Line, Metro Vision 2028 Plan, Outreach, Plan, Policy, Procurement, Project delivery, Public Hearing, Public service, Rail transit, Regional Connector Transit Corridor Project, Regional transportation, Resolution, Safety, San Fernando Valley subregion, South Bay Cities subregion, Station 0602, Strategic planning, Subsidies, System safety, Technical Advisory Committee, Transit Oriented Development, Transit safety, Transit System, Twenty-eight by '28 Initiative, Westlake/Macarthur Park Station, Westside Cities subregion, Westside Subway Extension/Purple Line Extension Phase 1, Westside Subway Extension/Purple Line Extension Phase 2

Date	Action By	Action	Result
5/25/2023	Board of Directors - Regular Board Meeting
5/17/2023	Finance, Budget and Audit Committee

Meeting_Body
BUDGET PUBLIC HEARING
FINANCE, BUDGET AND AUDIT COMMITTEE
MAY 17, 2023

Subject
SUBJECT: FISCAL YEAR 2024 (FY24) BUDGET

Action
ACTION: ADOPT THE FY24 BUDGET

Heading
RECOMMENDATION

Title
CONSIDER:

A. ADOPTING the proposed FY24 Budget as presented in the budget document (provided in a separate transmittal and posted on metro.net);

1. AUTHORIZING $9.0 billion annual consolidated expenditures to achieve goals and objectives set forth by the Board adopted mission and goals;

2. AUTHORIZING a total of 10,842 FTEs, with 8,943 Represented FTEs and 1,899 Non-Represented FTEs;

3. AUTHORIZING an average 3.5% performance-based merit increase and a cost-of-living adjustment (COLA) of 2.5% on July 1st, 2023, and 2.5% on January 1st, 2024, for Non-Represented employees. The COLA will adjust the Non-Represented salary pay grade bands accordingly. The wage increases for Represented employees, in accordance with the pre-negotiated Collective Bargaining Agreements, is 3.5% plus step progression increases;

4. APPROVING the Life of Project (LOP) budgets for new capital projects; new capital projects with LOP exceeding $5.0 million are presented in Attachment B;

5. AMENDING the proposed budget to include any Board approved actions currently under consideration from now to the end of the fiscal year (June 30, 2023);

B. AMENDING FY24 Proposed Budget document by including 40 additional Transit Security Officers (TSOs) to support rail expansion and increase safety on our transit system;

C. AMENDING FY24 Proposed Budget document by including 2 Non-Represented positions to support alternative delivery procurements on mega-projects; and

D. APPROVING the Reimbursement Resolution declaring Metro's intention to issue debt in FY24 for capital projects, as shown in Attachment C, with the provision that actual debt issuance will require separate Board approval.


Issue
ISSUE

California Public Utilities Code Section 130105 requires Metro to adopt an annual bu...