REGIONAL TRANSPORTATION DISTRICT, COLORADO

Transcription

1 REGIONAL TRANSPORTATION DISTRICT, COLORADO Series 2004 Lease RTD Active Fleet of the District Fiscal Year Ended December 31, 2013 Fixed Route Bus Fleet Number RTD Owned Fixed Route Buses 40' Transit Coaches 573 Articulated Buses 116 Intercity Coaches 150 Mall Shuttles 38 30' Transit Buses ' Cutaway Buses 14 Total RTD Owned Fixed Route Buses 992 Call n Ride Fleet 51 Access a Ride Fleet 324 Light Rail Vehicle Fleet 172 TOTAL ACTIVE FLEET 1,539

2 Series 2010, 2010A, 2010A&B FT, 2007A, 2007A FT Taxable Retail Sales of the District (In Millions of Dollars) Year City and County Jefferson Arapahoe Douglas City and County Total Taxable Increase or of Denver Boulder County County Adams County County County of Broomfield Other Transactions Decrease $ 8,364 $ 2,965 $ 5,548 $ 3,891 $ 6,694 $ 1,270 $ 858 $ 659 $ 30, % 8,841 3,079 5,659 4,151 6,720 2, , % 9,429 3,248 5,823 4,471 6,851 2, , % 9,793 3,336 5,952 4,577 6,889 2, , % 10,751 3,538 6,185 4,804 7,294 2, , % 11,057 3,491 6,043 4,785 7,098 2, , % 9,269 3,216 5,536 4,240 6,459 2, , % 9,766 3,391 5,656 4,433 6,817 2, , % 11,239 3,721 6,001 4,749 7,486 2, ,041 37, % 12,415 3,851 6,202 5,323 8,109 2, ,036 40, % 12,861 4,033 6,538 5,731 8,456 3,108 1,004 41, % All Series Operating Data of the District Fiscal Year Ended December 31, 2013 Total miles 45,246,715 Active bus stops 9,509 Number of routes Local 65 Limited 11 Express 14 Regional 17 SkyRide 5 Light Rail 6 Mall Shuttle 1 Call n Ride 18 Ridership average weekday, revenue service 290,843 Ridership average weekday, all services 335,391 Total annual boardings, revenue service 87,896,984 Total annual boardings, all services 101,966,009 Daily miles operated (average weekday), including Sixteenth Street Mall and Light Rail 106,709 Diesel fuel consumption, gallons (excluding purchased transportation) 5,600,000 Total active buses 992 Wheelchair lift equipped buses 992 Number of employees (actual stuff) Salaried 752 Represented (includes part time drivers) 1,901 Fleet requirements (during peak hours) 785 Operating facilities 6

3 All Series Statement of Obligations of the District ($000's) As of December 31, 2013 Sales Tax Revenue Bonds (0.6% Sales Tax) Outstanding RTD Sales Tax Revenue Refunding Bonds, Series 2007A $75,879 RTD Sales Tax Revenue Refunding Bonds, Series 2010A 32,274 RTD Taxable Sales Tax Revenue Refunding Bonds, Series 2013A 91,296 TOTAL $199,449 Sales Tax Revenue Bonds (FasTracks 0.4% Sales Tax) RTD Sales Tax Revenue Refunding Bonds (FasTracks Project),Series 2007A $359,653 RTD Tax Exempt Sales Tax Revenue Bonds (FasTracks Project), Series ,357 RTD Taxable Sales Tax Revenue Bonds (FasTracks Project) (Direct Pay Build America Bonds), Series 2010B 300,000 RTD Sales Tax Revenue Bonds (FasTracks Project), Series 2012A 542,797 RTD Sales Tax Revenue Refunding Bonds (FasTracks Project) Series 2013A 249,407 RTD TIFIA Loan (FasTracks Project) 126,093 TOTAL $1,659,307 Eagle P3 project TABOR Portion of Service Payments DUSPA DUSPA Bond $1,438,234 $159,727 Lease Purchase Agreements Certificates of Participation, Series 2002A $100,105 Certificates of Participation, Series 2004A $7,130 Certificates of Participation, Series 2005A 10,145 Taxable Refunding Certificates of Participation, Series 2007A 11,300 Tax Exempt Certificates of Participation, Series 2010A 202,505 Taxable Certificates of Participation, Series 2010B 100,000 Certificates of Participation, Series 2013A 224,045 TOTAL $655,230 All Series RTD Annual Ridership and Fare Revenue of the District ($000's) Revenue Percent Change in Year Boardings Fare Revenue Fare Revenue ,673 $ 55, % ,994 57, % ,867 66, % ,714 77, % ,254 88, % ,337 96, % ,732 97, % , , % , , % , , %

4 All Series RTD Advertising and Ancillary Revenues of the District ($000's) Advertising Ancillary Year Revenue Revenues 2004 $ 3,047 $ 3, ,196 3, ,800 4, ,194 4, ,854 3, ,866 3, ,301 2, ,992 2, ,524 2, ,924 20,123. All Series RTD Federal Grant Receipts of the District ($000's) Operating, Federal Other Local Planning and Year Capital Contributions Other 2004 $ 54,446 $ 17,309 $ 39, ,523 10,861 41, ,413 4,124 42, ,577 7,556 47, , , ,211 2,500 68, ,213 5,265 92, ,073 52,219 89, , ,685 68, ,783 82,783 88,243

5 All Series Summary of Statements of Revenues and Expenses and Changes in Net Position ($000's) Fiscal Year Ended December 31, Operating Revenues: Passenger Fares $117,841 Other $5,199 Total Operating Revenues $123,040 Operating Expenses: Salaries, wages, fringe benefits $192,405 Material and supplies $64,798 Services $112,479 Utilities $13,567 Insurance $5,568 Purchased transportation $113,006 Leases and rentals $3,210 Miscellaneous $6,448 Total Operating Expenses $511,481 Operating loss before depreciation ($388,441) Depreciation $127,256 Operating Loss ($515,697) Nonoperating Income (expense): Sales Tax revenues $468,586 Federal operating assistance $88,243 Investment Income $2,040 Other income $28,170 Gain/ loss capital assets ($82) Interest expense ($61,223) Other expense ($4,064) Total Nonoperating Income $521,670 Net income before capital grants and location contributions $5,973 Federal capital grants and local contributions $242,566 Increase in Net Position $248,539 Net Position at Beginning of Year $2,728,910 Prior Period Adjustment Net Position at End of Year $2,977,449

6 All Series Comparison of Budgeted and Actual Revenues and Expenditures of the District ($000's) 2013Budget 2013 Actual 2012 Budget 2012 Actual Operating Revenues: Passenger fares $119,346 $117,841 $116,092 $112,929 Other 5,423 5,199 5,425 5,333 Total operating revenues $124,769 $123,040 $121,517 $118,262 Operating Expenses: Salaries, wages, fringe benefits $131,347 $192,405 $159,460 $178,974 Materials and supplies 69,469 64,798 59,714 58,300 Services 149, , , ,853 Utilities 14,846 13,567 11,705 11,833 Insurance 6,270 5,568 6,299 3,776 Purchased transportation 116, , , ,130 Leases and rentals 3,263 3,210 2,464 2,401 Miscellaneous 17,916 6,448 16,983 15,741 Total Operating Expenditures $508,793 $511,481 $559,490 $492,008 Operating Loss ($384,024) ($388,441) ($437,973) ($373,746) Nonoperating revenue (expense): Sales and Use Tax $466,429 $468,586 $436,521 $449,787 Federal operating assistance 82,385 88,243 79,760 68,927 Investment income 3,165 2,040 3,338 2,613 Other income 15,246 28,170 21,186 11,035 Gain/ loss on capital assets (82) 3,459 Interest expense (79,473) (61,223) (50,079) (51,371) Other expense (4,064) (4,895) Total Nonoperating Revenue $487,752 $521,670 $490,726 $479,555 Proceeds from debt $261,376 $693,841 $583,788 $545,763 Capital Outlay: Capital expenses $1,811,720 $769,359 $1,709,182 $702,119 Less capital grants (261,264) (242,566) (260,907) (311,676) $1,550,456 $526,793 $1,448,275 $390,443 Long term debt principal payment $46,460 $442,598 $56,563 $57,827 Excess (deficit) of revenue and nonoperating income over (under) expenses, capital outlay and debt principal payments ($1,231,812) ($142,321) ($868,297) $203,302 Increases (decreases) to reconcile budget basis to GAAP basis: Capital expenditures $769,359 $702,119 Long term debt proceeds (693,841) (545,763) Long term debt principal 442,598 57,827 Depreciation (127,256) (115,269) INCREASE IN NET ASSETS $248,539 $302,216

7 Series 2007A FT,2007A, 2005A COP Budget Summary of the District ($000's) 2013 Adopted 2013 Amended 2014 Adopted BEGINNING NET POSITION $2,655,599 $2,816,516 $3,354,175 REVENUES: Operating 124, , ,408 Sales and use taxes 475, , ,809 Federal and local grants 320, , ,830 Investment and other income 14,055 18,411 22,493 FasTracks change in construction reserve 50,282 50,000 5,858 Financing proceeds 90, , ,000 Contributed capital 267, ,289 49,841 TOTAL REVENUES $1,342,650 $1,366,923 $1,772,239 EXPENDITURES Operating $536,505 $554,704 $529,524 Interest expense 59,526 79,473 99,410 Debt payments 55,504 46,460 61,458 Current capital expenditures 821, , ,298 Carryforward capital expenditures 1,251,313 1,003,434 1,063,165 TOTAL EXPENDITURES $2,724,460 $2,492,357 $2,668,855 Reconciling Items $1,716,465 $1,505,158 $1,219,728 ENDING NET POSITION $2,990,254 $3,196,240 $3,677,287 NET POSITION SUMMARY Net investment in capital assets $1,860,209 $2,333,205 $3,071,712 Restricted debt service and other 786, , ,590 Restricted TABOR fund 18,304 18,191 19,223 Restricted FasTracks 257, , ,000 Restricted Board Appropriated and capital replacement 37,208 48,151 67,307 Unrestricted Fund 30,906 23,052 23,455 ENDING NET POSITION $2,990,254 $3,196,240 $3,677,287

8 Series 2013A FT, 2013A, 2012A, 2010A&B FT,2010A, 2007A FT Historical Debt Service Coverage and Available Pledged Revenues ($000s) Bonds and Parity 0.6% Sales Total Senior Obligations Debt Service Senior Obligations Debt Service Remaining 0.6% Sales 0.4% Sales Total Pledged Bonds Combined Maximum annual Debt service Debt Service Year Tax Revenue Requirements Coverage Tax Revenue Tax Revenue Revenues Requirements Coverage $ 222,843 $ 35, $ 187,501 $ 148,562 $ 336,063 $ 160, ,529 34, , , , , ,108 35, , , , , ,872 35, , , , , $281,152 21, , , , , Series 2013COP, 2010COP Annual Debt Service Requirements and Amounts Subject to Appropriation Year Total Sales Tax Secured Obligations Existing Appropriation Obligations TABOR Contractually Non TABOR Total 0.4% FasTracks Portion of Eagle Total Sales Obligated Portion of Existing 0.6% Sales Sales Tax P3 Service DUSPA Tax Secured Certificates of Construction Eagle P3 Appropriation Tax Obligations Obligations Payments Bond Obligations Participation Payments Eagle P3 Payments Obligations $ 28,767,871 $ 69,758,925 $ $ 12,006,489 $ 110,533,285 $ 76,607,936 $ 354,443,225 $ - $ 431,051,161 28,769,144 69,763,325 12,006, ,538,958 84,381, ,680, ,061,255 28,766,028 69,760,375 12,006, ,532,892 87,885,286 63,431,449 48,583, ,900,652 28,624,805 69,761,575 40,953,635 12,006, ,346,504 82,976,184 4,332,790 69,117, ,426,022 28,376,455 69,761,713 34,436,829 12,006, ,581,486 87,497,284 71,441, ,939,002 19,980,340 69,760,788 45,388,149 12,006, ,135,766 85,472,948 91,313, ,785,991 19,982,060 69,760,388 45,813,412 12,006, ,562,349 92,658,763 96,685, ,343,763 14,495,578 80,650,725 46,263,740 12,006, ,416,532 92,658,926 86,269, ,927,951 9,583,950 80,649,675 44,618,361 12,006, ,858,475 88,979,826 85,400, ,380,563 9,582, ,397,275 45,790,286 12,006, ,776,450 87,403,201 87,929, ,332,271 9,588, ,401,375 47,210,467 12,006, ,206,606 87,390,276 96,509, ,899, ,998,123 49,812,129 12,006, ,816,741 87,383, ,128, ,511, ,000,123 44,523,987 12,006, ,530,599 71,041,376 87,620, ,661, ,922,859 45,475,113 12,006, ,404,461 63,169,160 87,065, ,234, ,873,834 46,678,612 12,006, ,558,935 53,727,422 91,091, ,819, ,027,759 48,154,170 12,006, ,188,418 53,726,916 98,443, ,170, ,761,659 61,422,787 12,006, ,190,935 53,723, ,776, ,500, ,505,684 49,261,307 12,006, ,773,480 53,728,994 91,513, ,242, ,746,809 55,464,975 12,006, ,218,273 53,693,622 96,085, ,778, ,185,484 67,957,415 12,006, ,149,388 53,700, ,911, ,612, ,463,959 84,463,655 12,006, ,934,103 53,709, ,377, ,086, ,423,184 97,323,155 12,006, ,752,828 53,721, ,816, ,537, ,242,909 43,848,307 12,006, ,097,705 41,333,827 93,894, ,227, ,795,797 49,294,601 12,006, ,096,887 41,331,656 95,510, ,842,363 67,334,997 57,225,684 12,006, ,567,170 41,341, ,223, ,564,598 68,032,798 73,605,255 12,006, ,644,542 41,345, ,892, ,238,530 68,032,798 82,267,193 6,003, ,303,235 41,348, ,707, ,055,601 68,032,798 77,751, ,784,255 32,515, ,627, ,142,882 68,032,798 13,005,523 81,038,321 32,511,075 55,656,036 88,167,111 68,032,798 15,089,879 83,122,677 32,515,450 77,267, ,783,217 68,032,798 25,134,048 93,166,846 32,515,325 85,087, ,603,269 68,032,798 68,032,798 70,752,000 70,752,000 70,831,823 70,831,823 70,920,223 70,920,223 71,015,803 71,015,803 71,116,584 71,116,584 $226,516,906 $3,559,575,338 $1,438,234,131 $318,171,958 $5,542,498,333 $1,941,995,449 $ 577,887,664 $ 2,824,945,469 $5,344,828,582

9 All Series Revenues by Source of the District ($000's) Total Revenue Operating Sales Tax Federal Operating Investment Federal Capital Local Capital and Capital Year Revenues Revenues Assistance Income Other Total Revenue Grants Contributions Reserves $ 61,023 $ 221,276 $ 39,649 $ 9,439 $ 3,621 $ 335,008 $ 54,446 $ 17,309 $ 406,763 62, ,427 41,322 15,624 3, ,598 86,523 10, ,982 69, ,557 42,805 29,936 4, ,851 57,413 4, ,387 81, ,407 47,041 57,471 4, , ,577 7, ,268 92, ,824 50,814 52,456 3, ,529 39, , , ,405 68,146 29,379 3, , ,211 2, , , ,549 92,655 8,065 3, , ,213 5, , , ,180 89,592 6,484 11, , ,073 52, , , ,787 68,927 2,613 14, , , , , , ,586 88,243 2,040 28, , ,783 82, ,645 Series 2013A,2013A FT, 2012A, 2010A&B FT Historical Sales Tax Revenue ($000's) 0.6% Sales Tax 0.4% Sales Tax Total Sales Tax Year Collections Collections Collections Percent Change 2009 $ 222,843 $ 148,562 $ 371, % , , , % , , , % , , , % , , , %

10 Series 2007A FT, 2007A, 2005A COP, 2004 Lease STRATEGIC BUDGET PLAN OPERATIONS ($000's) Total Cost Interest Payments 1,2 $ 24,131 $ 26,155 $ 27,184 $ 26,497 $ 25,905 $ 29,719 $ 159,591 Bus Operations Current RTD 121, , , , , , ,395 Bus Operations Private Carrier 99, , , , , , ,907 Bus Operations call n Ride 5,904 6,047 6,193 6,343 6,496 6,653 37,636 Private Contract Administration Costs ,531 FasTracks Service Allocation Bus 1 (14,654) (15,006) (15,366) (15,735) (16,112) (16,499) (93,372) Cost Sharing Agreements Bus Service 2,085 2,135 2,186 2,239 2,292 2,347 13,284 Van Pool Program 1,182 1,210 1,239 1,269 1,299 1,330 7,529 Section 5011 Local Match ,999 LRT Operations 36,346 36,222 36,448 37,432 38,333 39, ,022 ADA Operating Costs 43,595 44,646 45,723 46,826 47,956 49, ,859 FasTracks Service Allocation ADA 1 (1,860) (1,904) (1,950) (1,997) (2,045) (2,094) (11,850) Facilities Maintenance Base 44,987 46,066 47,172 48,304 49,463 50, ,643 Facilities Maintenance Additional Costs 8,437 9,737 7,633 7,408 2,625 1,654 37,494 Capital Programs Base 3,312 3,391 3,473 3,556 3,641 3,729 21,102 Capital Programs Additional Costs 3,091 1,488 1,529 1,373 1,440 1,181 10,102 Direct Costs Other Departments ,027 Indirect Costs Other Departments 68,415 70,264 71,990 75,179 76,880 77, ,424 Denver Union Station Costs 2,963 2,641 2,794 2,799 2,945 2,935 17,077 Grand Total $ 450,886 $ 459,178 $ 465,483 $ 475,961 $ 481,230 $ 493,662 $ 2,826,401 1 Interest payments and FasTracks service allocation are not presented in year of expenditure dollars. 2 Interest payments on bonds and certificates of participation (COPS) issued for purposes other than FasTracks.

11 Series 2007A FT, 2007A, 2005A COP, 2004 Lease Strategic Budget Plan Capital Total Cost Long Term Debt Service 1,2 $ 38,197 $ 44,117 $ 54,502 $ 52,073 $ 60,082 $ 56,777 $ 305,748 Southeast Corridor Debt Service 2 9,755 6,130 6,480 6,725 11,390 10,330 50,810 Fleet Modernization and Expansion 3 Transit Buses 70,393 38,929 57,576 4,295 33,114 4, ,810 LRT Vehicles 29,331 21,969 51,300 ADA Vehicles 4,627 9,673 1,277 1,377 2,873 7,679 27,506 Passenger Infrastructure 3 Bus and Rail Infrastructure 2,200 3,771 4, ,912 1,716 15,143 Transfer Stations Denver Union Station Park n Rides 3 5,115 3,195 1,180 7,359 3,037 1,728 21,614 Capital Support Equipment 3 Vehicles and Bus Maintenance Equipment 4,652 2,327 1,191 1, ,127 11,411 Treasury Information Systems,Computer Equipment for Operations 2,269 6,370 1, ,038 Security Equipment 1, ,563 Bus Maintenance Facilities 3 East Metro Light Rail Maintenance Facilities 3 Mariposa Elati Facilities District wide 2,046 2,095 2,145 2,746 9,032 Discretionary Capital Grand Total $ 142,481 $ 147,724 $ 131,719 $ 100,159 $ 114,771 $ 84,641 $ 721,496 1 Principal payments are set at the time the bonds are issued and do not change with inflation. 2 Long term debt service/southeast Corridor debt service costs include principal/interest payments on bonds&certificates of participation (COPs) and are not presented in year of expenditure dollars. 3 Capital expenditures and discretionary capital amounts are presented in year of expenditure dollars.