Proposed FY2012 Operating Budget

Transcription

1 Proposed FY2012 Operating Budget June 2, 2011 Overview Began budget discussions in January 2011 Reviewed FY2012 Preliminary Operating Budget at the May 5, 2011 JPB meeting Followed up Board member questions from May 5, 2011 meeting Next steps Adopt FY2012 Operating Budget & continue discussion on an FY2013 Budget Balancing Plan 2 1

2 Farebox Recovery Ratio Comparison Caltrain has a high farebox recovery ratio compared with other Bay Area transit agencies. 70.0% 60.0% 50.0% 40.0% 62.3% 47.4% 30.0% 20.0% 17.8% 22.1% 19.4% 18.7% 17.5% 14.2% 10.0% 0.0% AC Transit BART Caltrain* Golden Gate Transit (Bus) Muni (Bus) Muni (Light Rail) SamTrans VTA** Sources: * FY2009 NTD Report ** A combined ratio of both bus and light rail Other ratios are from the MTC Statistical Summary of Bay Area Transit Operators (May 2010) for FY 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% 40.0% 47.4% 36.7% 51.2% 46.1% 58.9% 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 4 2

3 Administrative Cost Percentage Comparison 20.0% 16.0% 16.7% 15.2% 12.9% 12.0% 8.0% 5.9% 7.9% 10.2% 4.0% 0.0% Caltrain ACE (Stockton) VRE (Virginia) TRI-Rail (Florida) Rail Runner (New Mexico) Metrolink (Los Angeles) Source: FY2009 NTD Reports 5 Proposed FY2012 Operating Budget 6 3

4 86-train Service Retains full weekday service including: - Gilroy service - No station service suspended Retains full weekend service, including weekend Baby Bullets - Bullet pilot is close to achieving cost recovery goal established at the outset Retains Special Event service Minor adjustments maybe required in weekend and evening times to enable construction 7 86 Trains - Total Revenues (in millions) Fares $50.7 Parking 2.8 Shuttles 1.2 Rental Income 1.7 Other Income 2.9 AB434 & Grants 10.2 Member Agencies 25.3 Other Sources 9.0 Total Revenue $ % 24% 10% Fares Shuttles Other Income Member Agencies 48% 3% 1% 3% 2% Parking Rental Income AB434 & Grants Other Sources 8 4

5 86 Trains - Total Expenses (in millions) Rail Op Service and Extra Work $58.8 Security Services 4.1 Operator Contract Transition Costs 3.2 Shuttles 3.0 Fuel 14.6 Timetables & Tickets 0.2 Insurance 4.9 Facilities and Equip Maint. 1.0 Utilities 1.6 Services 1.2 Administrative 10.1 Long-term Debt 1.1 Total Expenses $ % 3.9% 3.1% 1.1% 9.7% 1.2% 1.5% Rail Operator Service and Extra Work Security Services Operator Contract Transition Costs Shuttles Fuel Timetables & Tickets Insurance Facilities & Equip Maintenance Utilities Services Administrative Long-term Debt 2.9% 14.2% 9 0.2% 4.7% 1.0% 86 Weekday Trains FY2012 Projection (in millions) Beginning Deficit 86 Trains ($30.2) Fare Increase eff. July Parking Increase eff. July 1 ($3 to $4/day) 0.5 Preventative Maintenance Funding 1.5 FY2011 Savings and Operator Transition Costs Roll Forward 9.0 SamTrans Capital Funds 3.7 VTA 3.6 Muni 1.6 SamTrans Repayment of the ROW from VTA 2.0 VTA 1.9 Muni 0.9 Total 26.7 Surplus/(Deficit) (3.5) Requested funding from MTC 3.5 Net

6 86 Weekday Trains FY2012 Projection (in millions) FY2012 Revenue $100.3 Expenses (103.8) Surplus/(Deficit) (3.5) Requested funding from MTC 3.5 Surplus/(Deficit) 0 11 Member Contributions SamTrans has engaged in discussions with member agencies, funding partners and MTC on funding options. SamTrans contribution of $10.6 million is made up of: $4.9 million from the SMCTA $2.0 million in funds received from repayment of the SamTrans investment in the Caltrain right of way $3.7 million through a swap of capital funds for operating funds 12 6

7 Member Contributions San Francisco San Mateo Santa Clara Total 86 Trains FY2012 Operating Contribution $4,510,684 $10,620,000* $10,206,572 $25,337,256 * SMCTA contribution projected at $4.9M (based on latest sales tax projection of $61.5M) 13 Next Steps Near Term June JPB Board meeting: request approval of balanced budget and principles for balancing FY2013 Budget June 2011: Complete discussions for FY2013 balanced operating budget July 2011: Implement fare and parking fees and operating plan 14 7

8 Next Steps - Longer Term Continue discussions with member agencies and funding partners on funding options Continue to work with stakeholders, including the Silicon Valley Leadership Group and MTC s Transit Sustainability Project, to develop strategies for new revenue sources including a dedicated, permanent funding source 15 Questions? 16 8

9 Historical Use of One-time Funds FY $6.2 million in FY2010 savings FY $3.7 million in fuel savings and $2 million ARRA grant FY $6 million in operating savings FY $4.6 million; $3.8 million in rail operator contract and fuel savings and $800,000 in excess fare revenue 17 9