Caltrain Funding 101

Transcription

1 Caltrain Funding 101 Prepared for: SFMTA Board Meeting Prepared by: Caltrain Staff Date: February 7, 2012

2 Caltrain Funding 101 Overview Funding contribution is guided by Joint Powers Agreement Funding for Caltrain Operations Funding for Caltrain Capital Projects 2

3 Funding for Caltrain Operations Member Agencies provide operating contributions to the JPB according to the Joint Powers Agreement (JPA) After fares and other funding sources, the JPA provides that each member subsidize the operating budget based upon each county s morning peak hour boarding In FY2006, the Members agreed to an annual increase of 3% Since FY2009, Member contributions have been frozen In FY2011, SamTrans reduced its contributions, but did fund swaps to keep its contribution near FY2010 levels for FY2011 and FY2012 3

4 Summary of FY2012 Budget (in millions) Total Revenues % Total Expenses % Fares $ % Rail Op Contract & Maint $ % Parking 3.0 3% Contract Transition Costs 4.7 4% Other Income 5.8 5% Fuel % AB434 & Grants % Other Operating Expenses % Member Agencies % Administrative % Other Sources 9.0 8% Long-term Debt 1.1 1% Total Revenue $ % Total Expenses $ % Revenue over Expenses $ 1.1 4

5 Commuter Railroads FareBox Recovery Ratio Comparison Caltrain s farebox recovery ratio is comparable with other commuter rail systems in the country. 70.0% 60.0% 50.0% 47.4% 51.2% 46.1% 58.9% 40.0% 36.7% 30.0% 20.0% 10.0% 18.4% 9.5% 14.0% 0.0% CalTrain ACE VRE LIRR Tri-Rail Coaster (NCTD) Front Runner (UTA) Rail Runner (Rio Metro RTD) Sources: FY2009 NTD Reports 5

6 Millions Member Agency Operating Contributions Historical Member Agency Operating Contributions $40 $30 $20 $10 $0 $6.6 $6.8 $7.0 $7.0 $6.2 $6.0 $15.0 $15.4 $15.9 $15.9 $14.1 $4.5 $13.5 $10.2 $15.6 $16.0 $16.5 $16.5 $14.7 $10.6 $14.0 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013* SamTrans VTA CCSF Sources: FY Financial Statement, FY2011 and FY2012 Adopted Budgets; FY2013 Preliminary Budget * Projected level of member contribution based on estimated SamTrans share of $14.0 million in FY

7 Joint Power Agreement (JPA) Boarding Formulas Per the original JPA (as amended October 3, 1996), each member agency shall subsidize the Caltrain operating budget based upon each county s morning peak hour boarding. Since 2006, the current share of Caltrain operating expenses is divided among the member agencies on the following basis: SamTrans 42% VTA 41% SFMTA 17% Based upon the Feb 2011 Caltrain passenger counts, the AM peak boardings within each county would be: SamTrans 35.1% VTA 43.8% SFMTA 21.1% Based upon the Feb 2011 Caltrain passenger counts, the total boardings within each county the breakdown would be: SamTrans 32.5% VTA 40.8% SFMTA 26.7% 7

8 Average Weekday Boardings in SF (Data source: annual passenger counts conducted each February) Year 4 th & King 22 nd St. Bayshore SF Station Total System Total SF % of Total , ,592 29, % , ,152 31, % , ,726 34, % , ,993 36, % , ,003 34, % ,897 1, ,071 37, % 8

9 Discussions for FY2014 and beyond Revision to cost sharing formulas is being considered VTA to restore payment obligations toward Gilroy service is also being considered 9

10 Funding for Caltrain Capital Programs Per JPA, outside of grants and other revenues, Member Agencies share equally on capital project costs Capital program focuses on state-of-good repair projects; and it fluctuates year-to-year due to: asset life cycles Regulatory/legal requirements Caltrain modernization 10

11 Caltrain Capital Budget by Category ($M) $200.0 $150.0 $66.0 State of Good Repair Legal Mandates and Enhancements 1 Electrification/Caltrain Modernization Capital Support and Contingency 2 $100.0 $50.0 $0.0 $81.9 $0.5 $0.5 $25.0 $120.7 $50.2 $129.0 $38.4 $25.4 $2.9 $7.3 $6.0 $2.4 $19.5 $3.4 $6.3 $8.7 $9.5 $2.2 $2.0 $2.0 '07 '08 '09 '10 '11 '12 1 This category includes safety and security improvements; FY10 includes San Bruno Grade Separation and FY12 includes Caltrain PTC 2 In 2007, $23M is for Dumbarton Rail

12 Caltrain Capital Budget by Funding Source ($M) Members $200.0 $150.0 $16.6 $86.3 Other 1 State Federal $10.7 $100.0 $5.0 $28.1 $58.8 $58.0 $50.0 $- $9.5 $67.2 $8.2 $8.3 $5.3 $31.5 $13.7 $38.8 $4.0 $45.0 $6.4 $41.5 $26.3 $17.5 $15.5 '07 '08 '09 '10 '11 '12 1 The "Other" sources include county specific local match funds

13 Caltrain Modernization Program Prepared for: SFMTA Board Meeting Prepared by: Caltrain Staff Date: February 7, 2012

14 Key Projects Advanced Signal System Caltrain Electrification HSR Coordination 14

15 Advanced Signal System CBOSS PTC Communication based overlay signal system (CBOSS) Caltrain operating needs Increase capacity Positive Train Control (PTC) FRA safety requirements Unfunded mandate Implement Project by

16 Caltrain Electrification Purpose Improve performance More service Improve air quality Decrease O/M subsidy Project Diesel to electric 5 to 6 trains / peak hour / direction Implementation TBD 16

17 HSR Coordination HSR approved by voters Caltrain corridor selected to support HSR Both systems need electrified corridor Caltrain and HSR partnership Combine resources to modernize corridor 17

18 Peninsula Vision Blended System What? Supports integrated Caltrain and HSR service Upgrade railroad from SJ to Transbay Terminal Maximize use of existing tracks Why? Minimize community impact Lower project cost Advance project delivery 18

19 Corridor Capacity Analysis Is the blended system concept feasible? Multiple considerations Operational Infrastructure Funding Strategy 19

20 Computer Simulation Existing Railway System Electric Advanced Signal System Tracks Existing Mainline Tracks 3 HSR Stations Additional Passing Tracks 20

21 Key Findings Blended system concept has merit Potential: Up to 10 trains / hour / direction # of Trains Without Passing Tracks With Passing Tracks Caltrain 6 6 HSR

22 Next Steps Finalize capacity analysis 2 new planning studies Stakeholder requested simulations Grade crossing analysis Model expansion to DTX 22

23 Overall Planning Process 23

24 Q/A 24