File #: 2024-0159   
Type: Informational Report Status: Agenda Ready
File created: 3/1/2024 In control: Finance, Budget and Audit Committee
On agenda: 4/17/2024 Final action:
Title: RECEIVE AND FILE on Fiscal Year 2025 Budget Development Status Update.
Sponsors: Board of Directors - Regular Board Meeting
Indexes: Airport Metro Connector (AMC) Station Project, Budget, Budgeting, Bus Acquisitions, Capital Improvement Program, Capital Project, Cleaning, Congestion Management Program, Informational Report, Los Angeles International Airport, Los Angeles Union Station, Maintenance practices, Metro Rail A Line, Metro Rail C Line, Metro Rail D Line, Metro Rail K Line, NextGen Bus Study, Operations and Maintenance, Outreach, Plan, Pomona, Program, Project, Public private partnerships, Rolling stock, Safety, State Of Good Repair, Strategic planning, Transit buses, Transit centers, Westside Subway Extension/Purple Line Extension Phase 1, Zero Emission Bus (ZEB) Master Plan, Zero Emissions
Attachments: 1. Attachment A - Metro Transit O&M - (Budget and Service Plan), 2. Attachment B - Station Experience and Cleaning Initiatives, 3. Attachment C - Metro Transit Capital Improvement Projects Details, 4. Attachment D - Total Bus Investments, 5. Attachment E - Early, Improved & Expanded Public Engagement Update, 6. Presentation
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FINANCE, BUDGET, AND AUDIT COMMITTEE
APRIL 17, 2024

Subject
SUBJECT: FISCAL YEAR 2025 BUDGET DEVELOPMENT STATUS UPDATE

Action
ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE on Fiscal Year 2025 Budget Development Status Update.

Issue
ISSUE

This report continues a series of monthly updates on the FY25 Budget development process, culminating in a planned May 2024 Board Adoption. The report focuses on the key areas of Metro's Transit Operations and Maintenance (O&M) Program and Transit Capital Improvement Projects (CIP) to maintain transit infrastructure in a state of good repair. These two programs combined make up 36% of Metro's total budget.

Additionally, an overview of Congestion Management, General Planning and Programs, and Oversight and Administration, which make up about 5% of Metro's total budget are included to complete the program budget discussions for the FY25 Budget development process. A recap of the Special Board Budget Workshop and the latest update regarding Metro's comprehensive budget outreach efforts are also included in this report.


Background
BACKGROUND

This preliminary budget serves as the annual cash flow of expenditures and revenues required to advance Transit Operations plans, fulfill Operations and Maintenance needs, repair and upgrade Transit Infrastructure, and enhance the customer experience. While the Operations and Maintenance and Capital Improvement Project budgets reflect this annual cash flow, Capital Improvement Projects (CIP) are controlled at a Life of Project (LOP) budget level.


Discussion
DISCUSSION




Metro Transit Operation and Maintenance Program Overview
To attract and retain riders, Metro's Transit O&M program aims to provide best in class transit service by continuing NextGen service improvements, enhancing customer experience, reimagining public safety, and making transit accessible and affordable. To achieve these goals, the FY25 Preliminary O&M Budge...

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