Ohio Turnpike & Infrastructure Commission Financial Update. Marty Seekely CFO / Comptroller

Transcription

1 Ohio Turnpike & Infrastructure Commission Financial Update By: Marty Seekely CFO / Comptroller

2 OHIO TURNPIKE AND INFRASTRUCTURE COMMISSION REVENUES, EXPENDITURES AND TRANSFERS GENERAL FUND FOR THE TEN MONTHS ENDED OCTOBER 31, 2016 VARIANCE: FAVORABLE / (UNFAVORABLE) ACTUAL ACTUAL $ % REVENUES: TOLL $ 242,883,366 $ 236,059,658 $ 6,823, % SPECIAL TOLL PERMITS 2,852,817 2,877,909 (25,092) (0.9%) CONCESSION 13,436,869 12,892, , % LEASE & LICENSE 967, ,624 81, % INVESTMENT 285,477 98, , % OTHER 3,563,092 3,009, , % TOTAL REVENUES $ 263,989,214 $ 255,823,323 $ 8,165, % EXPENDITURES: OPERATION, MAINT. & ADMINISTRATION: ADMINISTRATION & INSURANCE $ 9,152,425 $ 8,324,244 $ (828,181) (9.9%) MAINT. OF ROADWAY & STRUCTURES 31,030,686 30,767,158 (263,528) (0.9%) SERVICE PLAZA & TOLL OPERATIONS 45,168,598 42,816,833 (2,351,765) (5.5%) TRAFFIC CONTROL, SAFETY & PATROL 11,725,565 11,533,263 (192,302) (1.7%) TOTAL OPERATION, MAINT. & ADMIN. $ 97,077,274 $ 93,441,498 $ (3,635,776) (3.9%) DEBT SERVICE PAYMENTS 75,554,783 74,841,290 (713,493) (1.0%) TOTAL EXPENDITURES $ 172,632,057 $ 168,282,787 $ (4,349,269) (2.6%) EXCESS / (DEFICIT) OF REVENUE OVER EXPEND. $ 91,357,157 $ 87,540,535 $ 3,816, % TRANSFERS: EXPENSE RESERVE $ 369,699 $ 376,000 $ (6,301) (1.7%) RENEWAL & REPLACEMENT FUND 8,319,160 8,320,830 (1,670) (0.0%) SYSTEM PROJECTS FUND 82,668,298 73,497,500 9,170, % GENERAL RESERVE - 5,346,205 (5,346,205) TOTAL TRANSFERS $ 91,357,157 $ 87,540,535 $ 3,816, %

3 OHIO TURNPIKE AND INFRASTRUCTURE COMMISSION REVENUES, EXPENDITURES AND TRANSFERS GENERAL FUND FOR THE TEN MONTHS ENDED OCTOBER 31, 2016 VARIANCE: FAVORABLE / (UNFAVORABLE) ACTUAL ACTUAL $ % REVENUES: TOLL $ 242,883,366 $ 236,059,658 $ 6,823, % SPECIAL TOLL PERMITS 2,852,817 2,877,909 (25,092) (0.9%) CONCESSION 13,436,869 12,892, , % LEASE & LICENSE 967, ,624 81, % INVESTMENT 285,477 98, , % OTHER 3,563,092 3,009, , % TOTAL REVENUES $ 263,989,214 $ 255,823,323 $ 8,165, % EXPENDITURES: OPERATION, MAINT. & ADMINISTRATION: ADMINISTRATION & INSURANCE $ 9,152,425 $ 8,324,244 $ (828,181) (9.9%) MAINT. OF ROADWAY & STRUCTURES 31,030,686 30,767,158 (263,528) (0.9%) SERVICE PLAZA & TOLL OPERATIONS 45,168,598 42,816,833 (2,351,765) (5.5%) TRAFFIC CONTROL, SAFETY & PATROL 11,725,565 11,533,263 (192,302) (1.7%) TOTAL OPERATION, MAINT. & ADMIN. $ 97,077,274 $ 93,441,498 $ (3,635,776) (3.9%) DEBT SERVICE PAYMENTS 75,554,783 74,841,290 (713,493) (1.0%) TOTAL EXPENDITURES $ 172,632,057 $ 168,282,787 $ (4,349,269) (2.6%) EXCESS / (DEFICIT) OF REVENUE OVER EXPEND. $ 91,357,157 $ 87,540,535 $ 3,816, % TRANSFERS: EXPENSE RESERVE $ 369,699 $ 376,000 $ (6,301) (1.7%) RENEWAL & REPLACEMENT FUND 8,319,160 8,320,830 (1,670) (0.0%) SYSTEM PROJECTS FUND 82,668,298 73,497,500 9,170, % GENERAL RESERVE - 5,346,205 (5,346,205) TOTAL TRANSFERS $ 91,357,157 $ 87,540,535 $ 3,816, %

4 OHIO TURNPIKE AND INFRASTRUCTURE COMMISSION Toll Traffic Report Percentage Change from the Prior Year Jan - Mar April - Oct Oct YTD Number of Miles Passenger Cars 4.8% 10.4%.0% 2.2% Commercial Vehicles 3.6% 2.5% (.8%).1% Total 4.4% 7.2% (.3%) 1.5% Toll Revenue Passenger Cars 6.4% 12.0% 1.5% 3.7% Commercial Vehicles 5.5% 4.5% 1.5% 2.3% Total 5.9% 7.3% 1.5% 2.9%

5 All of the Commission s Revenues through 2037 will be Spent on Operating Expenses, Debt Service and Capital Expenditures (000 s) $800,000 $700,000 $600,000 Debt Service Increases from $96 million in 2016 to $130 million in YEAR PROJECTION Toll Rate Increases are Capped at the Rate of Inflation $500,000 $400,000 $300,000 $200,000 $100,000 $0 Expenses Total Gross Debt Service Capital Expenditures Pledged Revenue

6 Toll Increases and Expenses are limited to the Rate of Inflation but Wages have Increased by more than Inflation since the Last Contract CPI Last 3 years Sep Sep % Wages Class II Toll Maint Last 3 years Collector Worker Sep Sep % 4.06%

7 The Affordable Healthcare Act has Increased our Costs for Part Time Workers Part-time Worker Health Insurance Cost Enrolled in Health Plan $ 219,946 $ 441,897 Opt Outs 9,723 9,600 $ 229,669 $ 451,497

8 Health Insurance Costs per Employee have Increased 11.7% this Year and 22.8% from 2013 Annual Cost Per Employee Net of Employee Contribution 2013 $12, $14, $15,854

9 Ohio Turnpike & Infrastructure Commission Overview of Some Employee Benefits & Costs By: Matt Cole Director of Administration

10 Our Compensation Package Wages are only one part of the total compensation package. It includes: Regular Hourly Wages Longevity Overtime Wages 1.0, 1.5, 2.0, 2.5 times Shift Differentials Travel Time 10

11 Our Compensation Package Other parts include, but are not limited to: Health Insurance Dental Insurance Leaves vacation, sick and disability, personal, bereavement, military, industrial Leave Conversions Terminal Leave Pay Holidays Ohio Public Employees Retirement System (OPERS) and Medicare Contributions 11

12 What We Spend Annually on Some of these Benefits A Look at 2015/2016 Wage Breakdown Full-Time BU Employees - $27,939,610 Part-Time BU Employees - $4,471,977 Total - $32,411,587 12

13 What We Spend Annually on Some of these Benefits A Look at 2015/2016 Healthcare 2015 Actual Costs - $10,457, Predicted Costs - $12,191,559 13

14 What We Spend Annually on Some of these Benefits A Look at 2015/2016 Ohio Public Employment Retirement System (OPERS) Contributions 2015 Actual Costs - $7,273, Predicted Costs - $7,540,153 Ohio Turnpike employee-related costs increase year after year 14

15 What We Spend Annually on Some of these Benefits A Look at 2015/2016 Total Per Year BU Wages - $32,411,587 Healthcare - $10,342,046 OPERS - $ 7,273,556 Total for $50,027,189 15

16 Work Hours & Leave Use Radio Operators 34.41/40.00 work hours per week or 1,789.55/2,080 annually hours of vacation leave hours of sick leave Maintenance Workers 33.49/40.00 work hours per week or 1,741.85/2,080 annually hours of vacation leave hours of sick leave Full-Time Toll Collectors 32.20/40.00 work hours per week or 1,674.44/2,080 annually hours of vacation leave hours of sick leave (Note: hours of sick leave earned per year) Total Work Hours and Leave Use 33.60/40.00 work hours per week or /2080 annually hours of vacation leave hours of sick leave 16

17 General Wage Increase History OTIC & Ohio Important Things to Note The OTIC Bargaining Unit has received 4.07% higher wages than the State of Ohio over the last 10 years. Inflation is down significantly from years ago. It is currently hovering around 0.74% in It is only up slightly from 0.73% in 2015 and lower than 0.76% in We are aligned more with the State of Ohio than ever. This trend will continue making it extremely important that we do not present ourselves as an outlier from the State. Last 10 years Fiscal Year Percent Change State of Ohio Full-time Bargaining Full-time Non- Bargaining % 3.00% 3.00% % 3.00% 3.00% % 3.50% 3.00% % 3.00% 0.00% % 3.00% 3.00% % 0.00% 0.00% % 0.00% 0.00% % 0.00% 0.00% % 0.00% 1.00% % 2.00% 2.00% Cumulative 14.75% 18.82% 15.95% & % temporary reduction for Cost Savings Days which did not change the employee's rate of pay. 2 Received one time bonus of $1,100 17

18 How We Compare to the State of Ohio State of Ohio Wages Ohio Turnpike Wages Highway Tech I & II Series ( Range 7 & 8) Step 1 - $16.90/$17.63 hourly Step 2 - $17.18/$18.09 hourly Step 3 - $17.63/$18.62 hourly Step 4 - $18.09/$19.29 hourly Step 5 - $18.62/$20.02 hourly Step 6 - $19.29/$20.89 hourly Highway Patrol Dispatcher Series (Range 8) Step 1 - $17.63 hourly Step 2 - $18.09 hourly Step 3 - $18.62 hourly Step 4 - $19.29 hourly Step 5 - $20.02 hourly Step 6 - $20.89 hourly MW Class II Roadway Series Step 1 - $20.29 hourly (16.70%/13.11%) Step 2 - $22.46 hourly (23.50%/19.45%) Step 3 - $23.85 hourly (26.07%/21.92%) Step 4 - $24.95 hourly (27.49%/19.75%) Step 5 - $25.40 hourly (24.05%/21.18%) Radio Operator Series Step 1 - $ hourly (4.02%) Step 2 - $ hourly (6.17%) Step 3 - $ hourly (7.95%) Step 4 - $ hourly (9.18%) Step 5 - $ hourly (10.18%) 18

19 How We Compare to Sister Toll Roads Maintenance Worker Wages Time Step Step Step Step Step Step Step Salary Between State I II III IV V VI VII Maximum Steps Ohio 01/01/14-12/31/16 $20.29 $22.46 $23.85 $24.95 $25.40 N/A N/A $ Months/1 Year New York 01/01/09-12/31/13 $17.41 $18.70 $20.05 $21.44 $23.05 $24.60 $24.96 $ Year Pennsylvania 02/02/16-09/30/19 $20.66 $21.66 $22.66 $23.59 N/A N/A N/A N/A 1 Year Indiana 04/01/16-03/31/19 $17.07 N/A N/A N/A N/A N/A N/A $17.07 None 19

20 How We Compare to Sister Toll Roads Mechanic Wages Time Step Step Step Step Step Step Step Salary Between State I II III IV V VI VII Maximum Steps Ohio 01/01/14-12/31/16 Class IV-A $21.43 $23.70 $25.18 $26.45 $27.05 N/A N/A $ Months/1Year Class V $21.65 $24.02 $25.74 $27.05 $27.60 N/A N/A $ Months/1Year New York 01/01/09-12/31/13 $18.26 $19.58 $21.03 $22.40 $24.13 $25.62 $25.99 $ Year Pennsylvania 02/02/16-09/30/19 $21.34 $22.34 $23.34 $24.27 N/A N/A N/A $ Year Indiana 04/01/16-03/31/19 $18.56 N/A N/A N/A N/A N/A N/A $21.62 Wage Set by Skill Level 20

21 How We Compare to Sister Toll Roads Trades Wages Time Step Step Step Step Step Step Step Step Salary Between State I II III IV V VI VII VIII Maximum Steps Ohio 01/01/14-12/31/16 Class IV-A $21.28 $23.55 $25.03 $26.30 $26.90 N/A N/A N/A $ Months/1Year Class V $21.50 $23.87 $25.59 $26.90 $27.45 N/A N/A N/A $ Months/1Year New York 01/01/09-12/31/13 $18.26 $19.58 $21.03 $22.40 $24.13 $25.62 $25.99 $25.99 $ Year Pennsylvania 02/02/16-09/30/19 $21.34 $22.34 $23.34 $24.27 N/A N/A N/A N/A $ Year Indiana 04/01/16-03/31/19 $18.56 N/A N/A N/A N/A N/A N/A N/A $21.62 Wage Set by Skill Level 21

22 How We Compare to Sister Toll Roads Full-Time Toll Collector Wages Step Step Step Step Step Step Step Step Salary Between State I II III IV V VI VII VIII Maximum Steps Time Ohio 01/01/14-12/31/16 $20.29 $22.46 $23.85 $24.95 $25.40 N/A N/A N/A $ Months/1Year New York 01/01/09-12/31/13 $17.41 $18.70 $20.05 $21.44 $23.05 $24.60 $24.96 $24.96 $ Year Pennsylvania 02/02/16-09/30/19 $20.66 $21.66 $22.66 $23.59 N/A N/A N/A N/A $ Year Indiana - ITR Concessions 04/01/13-03/31/16 $10.38 $10.54 $10.75 $10.96 N/A N/A N/A N/A $ Year 22

23 How We Compare to Sister Toll Roads Part-Time Toll Collector Wages Time Step Step Step Step Step Step Step Salary Between State I II III IV V VI VII Maximum Steps Pennsylvania 02/02/16-09/30/19 $20.46 N/A N/A N/A N/A N/A N/A $20.46 N/A Ohio 01/01/14-12/31/16 $17.29 $17.66 $18.01 $18.40 $18.78 $19.17 $19.57 $ Hours Indiana - ITR Concessions 04/01/13-03/31/16 $10.38 $10.54 $10.75 $10.96 N/A N/A N/A $ Year New York 01/01/09-12/31/13 No PTTCs No PTTCs No PTTCs No PTTCs No PTTCs No PTTCs No PTTCs No PTTCs No PTTCs 23