Capital Metropolitan Transportation Authority Monthly Performance & Financial Report For Period Ending October 31, 2012 Soft Close

Transcription

1 Capital Metropolitan Transportation Authority Monthly Performance & Financial Report For Period Ending October 31, 2012 Soft Close

2 Table of Contents SUMMARY REPORT Financial Performance -Sales Tax 3 -Other Revenue 5 -Operating Expenses 6 -Key Performance Indicators 7 Project Status/Major Contracts 8 Budget Transfers 9 APPENDIX REPORTS -Statement of Revenues, Expenses and Changes in Net Assets 10 -Variance by Department 11 -Statement of Net Assets 12 -Capital and Other Commitments Report 13

3 Perfomance Indicators SALES TAX Monthly FY 2013 Budget versus Monthly FY 2013 Actual (Thousands) Year-to-date Sales Tax exceeded budget by 0.7% or $86,000. $18,000 $16,000 $14,000 $12,000 $10,000 $8,000 FY13 Bdgt FY13 Act $6,000 $4,000 $2,000 $- Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Monthly FY 2012 Actual versus Monthly FY 2013 Actual (Thousands) Sales tax collections for the first month of the fiscal year 2013 exceeded fiscal year 2012 by 5% or $593,000. Sales tax allocations will vary to some degree monthly owing to technical factors like more or less audit collections by the state and changes owing to prior period misallocations (they sent the money, usually small amounts from businesses on the border between communities to the wrong local government and correct the error subsequently). $18,000 $16,000 $14,000 $12,000 $10,000 $8,000 FY12 Act FY13 Act $6,000 $4,000 $2,000 $- Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 3

4 Perfomance Indicators The sales tax revenue trend continued upward compared to fiscal year October FY2013 exceeds October FY2012 by 5% Monthly % Change FY 2012 versus FY % % Change 5.00% 5.03% 4.00% 3.00% % Change 2.00% 1.00% 0.00% Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 4

5 Perfomance Indicators OTHER REVENUE Monthly FY 2013 Budget versus Monthly FY 2013 Actual (Thousands) Passenger fares include farebox deposits, pass sales to outlets, and ticket vending machine receipts. Operating grants reflects timing of receipt of funds. Capital grant revenue reflects timing of receipt of funds. Freight mainline revenue exceeded budget expectations by 1.6%. Other monthly revenues varied favorably to budget by approximately $561,000. Receipt for payment of services by the City of Austin for expanded Friday and Saturday amounted to $462,535. In addition to advertising, other revenue also captures miscellaneous sales transactions such sale of schedules, childcare, gain/loss on sale of assets. $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 FY13 Bdgt FY13 Act $200 $0 Fares Operating Grants Capital Grants Freight Rev Other Rev YTD FY 2013 Budget versus YTD FY 2013 Actual (Thousands) Passenger fares include farebox deposits, pass sales to outlets, and ticket vending machine receipts. Operating grants reflects timing of receipt of funds. Capital grant revenue reflects timing of receipt of funds. Freight mainline revenue exceeded budget expectations by 1.6%. Other monthly revenues varied favorably to budget by approximately $561,000. Receipt for payment of services by the City of Austin for expanded Friday and Saturday amounted to $462,535. In addition to advertising, other revenue also captures miscellaneous sales transactions such sale of schedules, childcare, gain/loss on sale of assets. $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 FY13 Bdgt FY13 Act $400 $200 $0 Fares Operating Grants Capital Grants Freight Rev Other Rev 5

6 OPERATING EXPENSES Monthly FY 2013 Budget versus Monthly FY 2013 Actual (Thousands) Perfomance Indicators Salaries and benefits were under budget for the month of October by 30.6% or $1,035,000. The contributing factor for the favorable variance is due to higher than anticipated vacancies, lower accrued leave such as vacation and sick pay, and other favorable fringe offsets such as workers compensation, pension expense. $12,000 $10,000 Professional services varied favorably to the October monthly budget due to lower than anticipated professional fees and the timing of software maintenance costs. $8,000 Materials and supplies for maintenance of the fleet, non-revenue vehicles, and building and maintenance varied unfavorably to budget by 30.8% or $68,000. An unfavorable maintenance for rail supported the majority of the variance. $6,000 FY13 Bdgt FY13 Act $4,000 Purchased transit service varied favorably to budget due dedicated paratransit services expense varying favorably to budget expectations. Fixed route services were on budget for the month for October. Diesel fuel prices for October averaged $3.27 per gallon. Management budgeted $3.50 per gallon for diesel fuel for FY13. $2,000 $0 Salaries & Benefits Prof Services Materials & Supplies Fuel & Fluids Purchased Trans Freight Rail Expense Other Expenses Salaries and benefits were under budget for the month of October by 30.6% or $1,035,000. The contributing factor for the favorable variance is due to higher than anticipated vacancies, lower accrued leave such as vacation and sick pay, and other favorable fringe offsets such as workers compensation, pension expense. YTD FY 2012 Actual versus YTD FY 2012 Budget (Thousands) $12,000 $10,000 Professional services varied favorably to the October monthly budget due to lower than anticipated professional fees and the timing of software maintenance costs. $8,000 Materials and supplies for maintenance of the fleet, non-revenue vehicles, and building and maintenance varied unfavorably to budget by 30.8% or $68,000. An unfavorable maintenance for rail supported the majority of the variance. $6,000 FY13 Bdgt FY13 Act $4,000 Purchased transit service varied favorably to budget due dedicated paratransit services expense varying favorably to budget expectations. Fixed route services were on budget for the month for October. Diesel fuel prices for October averaged $3.27 per gallon. Management budgeted $3.50 per gallon for diesel fuel for FY13. $2,000 $0 Salaries & Benefits Prof Services Materials & Supplies Fuel & Fluids Purchased Trans Freight Rail Expense Other Expenses 6

7 OTHER FINANCIAL INDICATORS Perfomance Indicators Data for Key Performance Indicators is not available for publication at the time of soft close for October

8 Perfomance Indicators These are modifications to contracts consistent with authority previously given by the Board. Amount with Vendor Description Effective Expiration Original Amount Variance Description 1 Brief Description Modifications VEOLIA TRANSPORTATION SERVICES, INC Contracted Fixed Route 11/1/2009 9/30/2014 $55,056, $55,056, $0.00 Modification 8 Added new clauses. FOX SERVICE COMPANY HVAC Maintenance Facilities & Amenities 11/1/ /31/2013 $347, $540, % Modification 2 Exercised option year one. ORACLE CORPORATION Software Maintenance - DIR VPC /1/ /30/2013 $215, $665, % Modification 2 Exercised option year three. CORNERSTONE ADVISORS ASSET MANAGEMENT Retirement Plan Investment Consulting Services 10/17/2006 4/16/2013 $207, $497, % Modification 7 Exercised option to extend services. VALERO MARKETING AND SUPPLY COMPANY Rideshare Gasoline Program 10/19/ /18/2013 $2,470, $2,470, % Modification 2 Exercised option year two. 8

9 Budget Transfers Perfomance Indicators Consistent with Budget and Financial Planning Policy FIN , there were no budget transfers in excess of $250,000 for the period ending, October 31,

10 Capital Metropolitan Transportation Authority Statement of Revenues, Expenses, and Changes in Net Assets October 31, 2012 Soft Close Month to Date FY 2012 Year to Date Budget Actual Variance Var % Budget Actual Variance Var % % of Fav/(Unfav) Fav/(Unfav) Fav/(Unfav) Fav/(Unfav) Total Expenses Operating Revenue: Passenger Fares 1,312,422 1,277,318 (35,104) -2.7% 1,312,422 1,277,318 (35,104) -2.7% 8.0% Third Party Fares 486, ,522 (47,602) -9.8% 486, ,522 (47,602) -9.8% 2.7% Freight Rail Revenue 311, ,998 5, % 311, ,998 5, % 2.0% Other Revenue 52, , , % 52, , , % 3.8% Total Operating Revenue: 2,162,608 2,641, , % 2,162,608 2,641, , % 16.6% Expenses; Salaries & Benefits 3,378,420 2,343,327 1,035, % 3,378,420 2,343,327 1,035, % 14.7% Professional Services 1,443,523 1,130, , % 1,443,523 1,130, , % 7.1% Freight Rail Expense 284, ,980 28, % 284, ,980 28, % 1.6% Materials and Supplies 205, ,403 (63,221) -30.8% 205, ,403 (63,221) -30.8% 1.7% Fuel & Fluids 1,722,515 1,709,661 12, % 1,722,515 1,709,661 12, % 10.7% Utilities 220, , , % 220, , , % 0.7% Insurance 1,878,410 86,354 1,792, % 1,878,410 86,354 1,792, % 0.5% Taxes 91,532 86,683 4, % 91,532 86,683 4, % 0.5% Purchased Transportation 9,582,656 9,437, , % 9,582,656 9,437, , % 59.2% Other Expenses 492, , , % 492, , , % 1.1% Interest Expense 276, ,061 16, % 276, ,061 16, % 1.6% Lease/Rental 80,607 84,905 (4,298) -5.3% 80,607 84,905 (4,298) -5.3% 0.5% Total Expenses 19,657,128 15,946,960 3,710, % 19,657,128 15,946,960 3,710, % Operating Income/(Loss) (17,494,520) (13,305,268) 4,189, % (17,494,520) (13,305,268) 4,189, % (83.4%) Non-Operating Revenue/(Expenses): Sales Tax 12,289,004 12,374,516 85, % 12,289,004 12,374,516 85, % 77.6% Investment Income 602 4,547 3, % 602 4,547 3, % 0.0% Grants - Operating 150,000 0 (150,000) % 150,000 0 (150,000) % 0.0% Grants - Capital 1,640,800 0 (1,640,800) % 1,640,800 0 (1,640,800) % 0.0% Total Non-Operating Revenue/(Expenses) 14,080,406 12,379,063 (1,701,343) -12.1% 14,080,406 12,379,063 (1,701,343) -12.1% 77.6% Change in net assets (3,414,114) (926,205) 2,487, % (3,414,114) (926,205) 2,487, % (5.8%) REVENUE: Sales tax collections for the first month of the fiscal year 2013 exceeded fiscal year 2012 by 5% or $593,000. Sales tax allocations will vary to some degree monthly owing to technical factors like more or less audit collections by the state and changes owing to prior period misallocations (they sent the money, usually small amounts from businesses on the border between communities to the wrong local government and correct the error subsequently). Passenger fares include farebox deposits, pass sales to outlets, and ticket vending machine receipts. Operating grant revenue reflects timing of receipt of funds. Capital grant revenue reflects current capital project activity. Freight mainline revenue exceeded budget expectations by 1.6% Other monthly revenues varied favorably to budget by approximately $561,000. Receipt for payment of service by the City of Austin for expanded Friday and Saturday amounted to $462,535. In addition to advertising, other revenue also captures miscellaneous sales transactions such as sale of schedules, childcare, gain/loss on sale of assets. EXPENSES: Salaries and benefits were under budget for the month of October by 30.6% or $1,035,000. The contributing factor for the favorable variance is due to higher than anticipated vacancies, lower accrued leave such as vacation and sick pay, and other favorable fringe offsets such as workers compensation, pension expense. Professional services varied favorably to the October monthly budget due to lower than anticipated professional fees and the timing of software maintenance costs. Materials and supplies for maintenance of the fleet, non-revenue vehicles, and building and maintenance varied unfavorably to budget by 30.8% or $68,000. An unfavorable maintenance for rail supported the majority of the variance. Purchased transit service varied favorably to budget due dedicated paratransit services expense varying favorably to budget expectations. Fixed route services were on budget for the month for October. Diesel fuel prices for October averaged $3.27 per gallon. Management budgeted $3.50 per gallon for diesel fuel for FY13. 10

11 Capital Metropolitan Transportation Authority Budget Variance by Department Summary for Period Ending October 31, 2012 Soft Close Month to Date (October 31, 2012) FY13 Year to Date (October 31, 2012) Budget Actual $ Var % Var Budget Actual $ Var % Var 100 Non-Allocated Benefits $ 948,699 $ 694,801 $ 253, % $ 948,699 $ 694,801 $ 253, % 102 Wellness Center 24,328 21,565 2, % 24,328 21,565 2, % 103 Child Care Center 56,092 56, % 56,092 56, % 105 Business Center 24,767 73,447 (48,680) % 24,767 73,447 (48,680) % General Managers 173, ,091 (9,343) -5.4% 173, ,091 (9,343) -5.4% Communications 34,928 34, % 34,928 34, % 120 Board of Directors 44,387 18,342 26, % 44,387 18,342 26, % 125 Internal Audit 27,412 24,825 2, % 27,412 24,825 2, % 130 Operations 30,664 27,508 3, % 30,664 27,508 3, % 135 Strategic Management 18,123 18,383 (260) -1.4% 18,123 18,383 (260) -1.4% 140 Safety & Security 11,543 8,131 3, % 11,543 8,131 3, % 141 APD Officers 258, ,047 25, % 258, ,047 25, % 150 Legal 80,077 25,658 54, % 80,077 25,658 54, % 160 Labor Re-Structure 391,097 17, , % 391,097 17, , % 220 Finance 609, , , % 609, , , % 230 Information Technology 540, , , % 540, , , % 250 Procurement 86,214 75,278 10, % 86,214 75,278 10, % 275 RideShare 76,405 75,267 1, % 76,405 75,267 1, % 310 StarTran Administration (130) % (130) % 320 Planning 179,633 50, , % 179,633 50, , % 330 Marketing 146,451 99,671 46, % 146,451 99,671 46, % 331 Business & Community Development 66,383 46,311 20, % 66,383 46,311 20, % 332 Customer Service 102,151 83,329 18, % 102,151 83,329 18, % 340 Human Resources 148,611 94,327 54, % 148,611 94,327 54, % 420 Risk Management 2,082, ,781 1,899, % 2,082, ,781 1,899, % 430 MetroAccess 0 3,610 (3,610) % 0 3,610 (3,610) % Operations Training 0 (2,196) 2, % 0 (2,196) 2, % Fixed Route 0 5,660 (5,660) % 0 5,660 (5,660) % Running Repair 0 1,652 (1,652) % 0 1,652 (1,652) % Service Island 0 27,368 (27,368) % 0 27,368 (27,368) % Vehicle Maintenance - Admin 0 5,085 (5,085) % 0 5,085 (5,085) % Store 0 (3,060) 3, % 0 (3,060) 3, % Public Facilities 426, , , % 426, , , % Building Maintenance 0 34,027 (34,027) % 0 34,027 (34,027) % Property Management 0 30 (30) % 0 30 (30) % Property Management 337, ,334 (1,962) -0.6% 337, ,334 (1,962) -0.6% Freight Rail Management 323, ,100 (97,514) -30.1% 323, ,100 (97,514) -30.1% Commuter Rail 838, ,352 72, % 838, ,352 72, % 545 Commuter Rail Special Service 169, ,161 32, % 169, ,161 32, % 560 Transit Oriented Development 17,622 13,957 3, % 17,622 13,957 3, % 600 Bus & Paratransit Contract Operations 270, ,105 26, % 270, ,105 26, % 610 Bus Contract Operations 8,905,650 8,855,746 49, % 8,905,650 8,855,746 49, % 620 Paratransit Contract Operations 1,984,332 1,828, , % 1,984,332 1,828, , % 630 MetroAccess Administration 221, ,472 44, % 221, ,472 44, % Total Expenses $ 19,657,128 $ 15,946,960 $ 3,710, % $ 19,657,128 $ 15,946,960 $ 3,710, % 1. Expenses for the business center were over accrued and will be corrected next month. 2. Annual dues and subscriptions fees in General Manager s department resulted in budget variances, but these expenses will smooth out over the course of the next fiscal year. 3. Transactions reflected in former StarTran departments reflect either fiscal 2012 transactions to be reclassed to the previous fiscal year or transactions which need to be re-classed to the reorganized operation departments such as bus and paratransit. 4. Rail materials and supplies for the maintenance of the right-of-way varied unfavorably to budget. 11

12 CAPITAL METROPOLITAN TRANSPORTATION AUTHORITY Statements of Net Assets October 31, 2012 and September 30, 2012 (Soft Close) UNAUDITED Assets October 31, 2012 September 30, 2012 Current assets: Cash and cash equivalents $ 61,517,809 $ 67,211,038 Investments Receivables Sales and use tax 26,934,279 25,898,689 Federal 1,826,729 4,139,014 Interest - - Notes receivables 0 - Other, net 6,322,194 3,554,269 Total receivables 35,083,202 33,591,972 Inventory 2,900,001 5,222,426 Other current assets 3,052,165 3,423,486 Total current assets 102,553, ,448,922 Non-current assets: Capital assets, net 307,097, ,273,931 Other assets 3,839,374 3,839,374 Long Term Investments 4,688,000 4,688,000 Total non-current assets 315,624, ,801,305 Total assets 418,178, ,250,227 Liabilities Current liabilities: Accounts and retainage payable 29,529,143 34,357,494 Accrued expenses 4,838,401 5,065,835 Interest payable 0 89,114 Master lease purchase financing agreement 2,578,081 2,578,081 Notes payable 1,790,000 1,790,000 City of Austin Interlocal Agreement 7,278,941 7,278,941 Total current liabilities 46,014,566 51,159,465 Long term liabilities: Accrued expenses 5,008,578 4,744,197 City of Austin Interlocal Agreement 2,489,907 1,866,143 Master lease purchase financing agreement 13,993,438 14,631,995 Note payable 18,210,000 18,210,000 Deferred rent 371, ,673 Total long term liabilities 40,073,596 39,824,008 Total liabilities 86,088,162 90,983,473 Net assets: Invested in capital assets, net of related debt 281,457, ,994,914 Unrestricted 50,632,849 53,271,840 Total net assets $ 332,089,923 $ 336,266,754 12

13 Capital Metropolitan Transportation Authority Summary of Capital & Other Commitments For Period Ending, October 31, 2012 Soft Close Summary of Operations Year-to-Date Activity Total FY13 Budget % Spend vs. Budget Revenues $ 15,020,752 $ 220,573, % Operating Expenses 15,946, ,812, % Operating Profit/(Loss) ($926,208) $26,761, % Capital Grants $0 $36,164, % Available for Capital/Financing Activities ($926,208) $62,926, % Financing Activities Mobility & BCT Programs - $5,500, % Quarter Cent Payment - $5,390, % Suburban Cities and Counties - $810, % Other ILA - $149, % Other Non-Operating - $0 - Long Term Debt Payments - $1,790, % Railcar Principal Payments 638,557 $2,578, % Financing Activities $ 638,557 $ 16,217, % Capital Expenditures Projects MetroRapid Project $ 284,296 $ 24,879, % Bus Replacements 431,755 10,295, % Radio Communication System Replacement - 3,259, % Intelligent Transportation Systems (ITS) Project 860,143 2,741, % Saltillo Track Relocation - 2,700, % East End Rail Track Rehabilitation - 90 LB 326,799 2,600, % Bus Stop Accessibility Improvements 24,752 2,478, % Paratransit Vehicle Replacement - 1,625, % Alternative Analysis - 1,298, % Positive Train Control - 1,100, % Railroad Bridge Repair/Upgrade 56,644 1,100, % Financial System - 1,000, % Convert Wood Deck Bridge to Open Deck MP ,000, % Rails with Trails , % MLK Rail Station hardscape and landscape improvements - 752, % Storage Area Network (SAN) Replacement - 750, % Interactive Voice Response (IVR) System Replacement 4, , % MetroBike Shelters - 634, % Productivity Software - 547, % Crossings Improvements Reimbursed by TxDOT - 500, % IT Infrastructure - 475, % Bus Stop Signage - 400, % IT Infrastructure Equipment - 300, % Server Backup System - 300, % Telephone Switch Upgrade - 300, % Farebox System Upgrade and Ticket Vending Machine Improvements - 275, % Oakhill Park and Ride Replacement - 225, % Headquarters Facility - HVAC Chillling System Replacement - 200, % Flashing Lights and MP , % Automatic Passenger Counters - 110, % In-vehicle laptops and associated infrastructure - 100, % Capital Project Contingency - 100, % Diesel Multiple Unit (DMU) Security Cameras Upgrade - 100, % Bus Stop Litter Containers - 87, % Bus Shelters - 60, % Customer Comments System Replacement - 60, % Quiet Zone - Rosewood Crossing - 60, % Headquarters Facility - Shop Lighting - 50, % MetroRapid Dedicated Transit Lane - 50, % Serta Yard Material Relocation - 50, % MLK Crossing Preemption - 50, % Security Camera Software Replacement - 50, % Ticket Vending Machine (TVM) Software Upgrade - 30, % Fuel System Upgrade - 26, % Bus Benches - 20, % Redline Pedestrian Crossings % Total Capital Project Expenditures $ 1,990,074 $ 64,461, % Financing Activity & Capital Expenditures $ 2,628,632 $ 80,678, % Operating/Capital Funds Net Increase/(Decrease) $ (3,554,840) $ (17,751,746) 20.0% 13