Memorandum State of New York May 29, 2015 Mr. Ken Bleiwas Office of the State Comptroller 59 Maiden Lane, 29 th Floor New York, New York 10038 Dear Mr. Bleiwas, This represents the MTA s First Quarter, 2015, report concerning the status of its gap closing initiatives as required by the NY State Comptroller s Regulation 4, Section 202.5 (c). According to the Regulation, the MTA must report each quarter, until implemented or rescinded, the status of each gap-closing initiative with a projected value equal to or greater than $1 million in any given fiscal year, including milestones, impact on staffing, current implementation status, actual savings or revenues to date and projected annual savings or revenues in comparison to Budget and Plan projections. Attached is a summary of the results of the 1st Quarter PEG Monitoring Program for 2015, as well as copies of the PEG Monitoring Milestone Reports. The summary shows that the MTA tracked PEGs/ AABBs and BRPs with an annual value of $307.0 million. Actual 1st Quarter savings of $75.5 million represents 99.9% of the planned quarterly savings. If you have any questions, please do not hesitate to call. Sincerely, Douglas Johnson Director, Division of Management & Budget cc: T. Prendergast K. DeDonno F. Ferrer J. Patrissi B. Foran K. Leopold N. Griffith L. Liberto (OSDC)
1st Quarter 2015 Year-To-Date PEG/AABB/BRP Monitoring Summary (Combined 2010-2015 PEGs/AABBs/BRPs) ($ in millions) MTA Agencies 2010-2015 PEGs/AABBs/BRPs Monitored * (Full Year) "Planned" "Realized" 1st Quarter Results (ytd) Variance Fav/(Unfav) "Realized" as % of "Planned" % of 2010-2015 Monitored PEGs/AABBs/BRPs Implemented at end of Quarter Pos ($) ($) ($) ($) ($) ($) New York City Transit (22) 287.237 71.809 71.752 0.000 99.9% 25.0% Long Island Rail Road 0 7.600 1.221 1.221 0.000 100.0% 16.1% Metro-North Railroad 0 2.000 0.000 0.000 0.000 N/A 0.0% MTA Bridges & Tunnels 0 0.000 0.000 0.000 0.000 N/A N/A MTA Headquarters 0 0.000 0.000 0.000 0.000 N/A N/A Staten Island Rail 0 0.000 0.000 0.000 0.000 N/A N/A MTA Bus Company 0 10.159 2.541 2.541 0.000 100.0% 25.0% MTA CONSOLIDATED (22) 306.996 75.571 75.514 0.000 99.9% 24.6% * The value of the monitored PEGs/AABBs/BRPs reflects re-estimates captured through the February 2015 Financial Plan and only includes those PEGs/AABBs/BRPs with an annual value of $1 million or more.
1st Quarter 2015 Year-To-Date BRP Monitoring Summary (2015 BRPs) ($ in millions) MTA Agencies 2015 BRPs Monitored * (Full Year) "Planned" "Realized" 1st Quarter Results (ytd) Variance Fav/(Unfav) "Realized" as % of "Planned" % of 2015 Monitored BRPs Implemented at end of Quarter Pos ($) ($) ($) ($) ($) ($) New York City Transit * 0 1.729 0.432 0.375 0.000 86.8% 21.7% Long Island Rail Road 0 5.000 1.221 1.221 0.000 100.0% 24.4% Metro-North Railroad 0 2.000 0.000 0.000 0.000 N/A N/A MTA Bridges & Tunnels 0 0.000 0.000 0.000 0.000 N/A N/A MTA Headquarters 0 0.000 0.000 0.000 0.000 N/A N/A Long Island Bus 0 0.000 0.000 0.000 0.000 N/A N/A Staten Island Rail 0 0.000 0.000 0.000 0.000 N/A N/A MTA Bus Company 0 10.159 2.541 2.541 0.000 100.0% 25.0% MTA CONSOLIDATED 0 18.888 4.194 4.137 0.000 100.0% 21.9% * The value of the monitored PEGs/AABBs/BRPs reflects re-estimates captured through the February 2015 Financial Plan and only includes those PEGs/AABBs/BRPs with an annual value of $1 million or more.
1st Quarter 2015 Year-To-Date BRP Monitoring Summary (2012 BRPs) ($ in millions) MTA Agencies 2012 BRPs Monitored * (Full Year) "Planned" "Realized" 1st Quarter Results (ytd) Variance Fav/(Unfav) "Realized" as % of "Planned" % of 2012 Monitored BRPs Implemented at end of Quarter Pos ($) ($) ($) ($) ($) ($) New York City Transit * (22) 285.508 71.377 71.377 0.000 100.0% 25.0% Long Island Rail Road 0 0.000 0.000 0.000 0.000 N/A N/A Metro-North Railroad 0 0.000 0.000 0.000 0.000 N/A N/A MTA Bridges & Tunnels 0 0.000 0.000 0.000 0.000 N/A N/A MTA Headquarters 0 0.000 0.000 0.000 0.000 N/A N/A Long Island Bus 0 0.000 0.000 0.000 0.000 N/A N/A Staten Island Rail 0 0.000 0.000 0.000 0.000 N/A N/A MTA Bus Company 0 0.000 0.000 0.000 0.000 N/A N/A MTA CONSOLIDATED (22) 285.508 71.377 71.377 0.000 100.0% 25.0% * The value of the monitored PEGs/AABBs/BRPs reflects re-estimates captured through the February 2015 Financial Plan and only includes those PEGs/AABBs/BRPs with an annual value of $1 million or more.
MTA Agencies Metropolitan Transportation Authority 1st Quarter 2015 Year-To-Date PEG/AABB Monitoring Summary (2010 PEGs/AABBs) ($ in millions) 1st Quarter Results (ytd) % of 2010 Monitored 2010 PEGs & "Realized" "Planned" "Realized" Variance PEGs & AABBs AABBs Monitored * as % of Fav/(Unfav) Implemented at end (Full Year) "Planned" of Quarter Pos ($) ($) ($) ($) ($) ($) New York City Transit 0 0.000 0.000 0.000 0.000 N/A N/A Long Island Rail Road 0 2.600 0.000 0.000 0.000 0.0% 0.0% Metro-North Railroad 0 0.000 0.000 0.000 0.000 N/A N/A MTA Bridges & Tunnels 0 0.000 0.000 0.000 0.000 N/A N/A MTA Headquarters 0 0.000 0.000 0.000 0.000 N/A N/A Long Island Bus 0 0.000 0.000 0.000 0.000 N/A N/A Staten Island Rail 0 0.000 0.000 0.000 0.000 N/A N/A MTA Bus Company 0 0.000 0.000 0.000 0.000 N/A N/A MTA CONSOLIDATED 0 2.600 0.000 0.000 0.000 0.0% 0.0% * The value of the monitored PEGs/AABBs/BRPs reflects re-estimates captured through the February 2015 Financial Plan and only includes those PEGs/AABBs/BRPs with an annual value of $1 million or more.
1st Quarter 2015 Year-To-Date (2015 BRPs) ($ in millions) 1st Quarter results (ytd) % of 2015 Monitored "Realized" 2015 BRPs "Planned" "Realized" Variance PEGs/AABBs as % of "Planned" Monitored * Fav/(Unfav) Implemented at end of BRP Tracking # PEG Name Quarter Pos ($) ($) ($) ($) ($) ($) NYCT NYCT 15-01 BRP DOS Availability - Reduce IOD Lost Days 0 1.729 0.432 0.375 (0.057) 86.8% 21.7% Total NYCT BRPs 0 1.729 0.432 0.375 (0.057) 86.8% 21.7% LIRR LIRR 15-01 BRP Inventory/Material Management 0 5.000 1.221 1.221 0.000 100.0% 24.4% Total LIRR BRPs 0 5.000 1.221 1.221 0.000 100.0% 24.4% MNR MNR 15-01 BRP Changes to Genesis and BL20 Locomotive Overhaul Cycles 0 1.000 0.000 0.000 0.000 N/A 0.0% MNR 15-02 BRP Eliminate 2015 Service Plan Provision 0 1.000 0.000 0.000 0.000 N/A 0.0% Total MNR BRPs 0 2.000 0.000 0.000 0.000 N/A 0.0% MTA Bus MTABus 15-01 BRP Shop Overhaul 0 10.159 2.541 2.541 0.000 100.0% 25.0% Total MTBUS BRPs 0 10.159 2.541 2.541 0.000 100.0% 25.0% Total MTA BRPs 0 18.888 4.194 4.137 (0.057) 98.6% 21.9% * The value of the monitored PEGs/AABBs/BRPs reflects re-estimates captured through the February 2015 Financial Plan and only includes those PEGs/AABBs/BRPs with an annual value of $1 million or more.
1st Quarter 2015 Year-To-Date (2012 BRPs) ($ in millions) BRP Tracking # PEG Name 2012 BRPs Monitored * "Planned" "Realized" 1st Quarter results (ytd) Variance Fav/(Unfav) "Realized" as % of "Planned" % of 2012 Monitored PEGs/AABBs Implemented at end of Quarter Pos ($) ($) ($) ($) ($) ($) NYCT NYCT 12-01 BRP Paratransit Additonal (22) 285.508 71.377 71.377 0.000 100.0% 25.0% Total NYCT BRPs (22) 285.508 71.377 71.377 0.000 100.0% 25.0% Total MTA BRPs (22) 285.508 71.377 71.377 0.000 100.0% 25.0% * The value of the monitored PEGs/AABBs/BRPs reflects re-estimates captured through the February 2015 Financial Plan and only includes those PEGs/AABBs/BRPs with an annual value of $1 million or more.
1st Quarter 2015 Year-To-Date PEG/AABB Monitoring Summary (2010 PEGs/AABBs) ($ in millions) 1st Quarter results (ytd) % of 2010 Monitored "Realized" 2010 PEGs/AABBs "Planned" "Realized" Variance PEGs/AABBs as % of "Planned" Monitored * Fav/(Unfav) Implemented at end of PEG Tracking # PEG Name Quarter Pos ($) ($) ($) ($) ($) ($) LIRR LIRR 10-01 Air Rights 0 2.600 0.000 0.000 0.000 N/A 0.0% Total LIRR PEGs 0 2.600 0.000 0.000 0.000 N/A 0.0% Total MTA Consolidated PEGs 0 2.600 0.000 0.000 0.000 N/A 0.0% * The value of the monitored PEGs/AABBs/BRPs reflects re-estimates captured through the February 2015 Financial Plan and only includes those PEGs/AABBs/BRPs with an annual value of $1 million or more.
2015 NYCT BRP Monitoring Program 1st Quarter 2015 results In 2015, 2 BRP s are being monitored with a full-year savings of $287.2 million. Results through the first quarter show that $71.75 million or 99% of the planned BRP reductions of $71.80 million were realized. Additionally, 25.0% of the planned full-year savings were realized in the first quarter. BRP 15-01 fell short of its quarterly goal by $0.057 and The Department of Subways Operations Support and Administration division will continue its aggressive monitoring and review of Injury on Duty claims.
MTA New York City Transit 2015 PEG Monitoring Milestone Report Tracking No. 1st Quarter 2015 (Actual Results through March) NYCT 12-01 BRP PEG Name: PEG Description: PEG Status: Paratransit Additional reflect the annualized impact of 2011 decreased trip activity, continued diversion of trips from higher cost 'Primary' providers to lower cost taxis and vouchers and revised projections of annual trip growth (11% rather than 15% growth). These factors have also favorably affected insurance and fuel costs as the NYCT dedicated fleet is smaller and a larger number of trips are now routed towards taxi/voucher service. are partially offset by reduced fare revenue and the addition of LIB Operating results reflects the continued flattening of trip growth in 2014, and 7% growth in 2015 and out. Reduced trip levels have also favorably impacted insurance costs as NYCT's dedicated fleet is smaller and a significant number of trips are routed towards taxi/voucher services. will be partially offset by increased data processing staff resources beginning in 2015. PEG VALUE ($ in millions): 2012 2013 2014 2015 2016 $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. Original Plan: 51.771 (22) 125.306 (24) 203.028 (27) 285.508 (29) 372.259 (29) Planned Revised Actual CRITICAL TASKS & MILESTONES: Date Date Date July Plan 2014 added additional savings to be captured in the 3rd quarter 2014 7/1/2014 Nov Plan 2014 added additional savings to be captured in the 4th quarter 2014 11/1/2014 KEY INDICATORS: Transfer of positions from LIB Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan (29) - (29) Actual/Proj. - Month Var. - - - - - - - - - - - - - YTD Var. - - - - - - - - - - - - - PERFORMANCE/SERVICE INDICATORS: e.g. Revenues Projected to be Achieved (not PEG savings) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Plan Actual/Proj. Month Var. MONTHLY CASH SAVINGS ($ in millions) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan 23.792 23.792 23.792 23.792 23.792 23.792 23.792 23.792 23.792 23.792 23.792 23.792 285.508 Actual/Proj. 23.792 23.792 23.792 - - - - - - - - - 71.377 Month Var. - - - (23.792) (23.792) (23.792) (23.792) (23.792) (23.792) (23.792) (23.792) (23.792) (214.131) YTD Var. - - - (23.792) (47.585) (71.377) (95.169) (118.962) (142.754) (166.546) (190.339) (214.131) (214.131) Frequency of Update to Actuals: PEG Has Been Fully Implemented: Quarterly No
MTA New York City Transit 2015 PEG Monitoring Milestone Report Tracking No. 1st Quarter 2015 (Actual Results through March) NYCT 15-01 BRP PEG Name: PEG Description: DOS Availability - Reduce IOD Lost Days will be achieved through a more comprehensive and aggressive monitoring and review of IOD (Injury-on-Duty) claims by the Department of Subways through the Division of Operations Support and Administration to reduce the number of days employees PEG Status: Current availability results show an improvement.06 average days. PEG VALUE ($ in millions): 2014 2015 2016 2017 2018 $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. Original Plan: 0.000-1.729-1.729-1.729-1.729 - Planned Revised Actual CRITICAL TASKS & MILESTONES: Date Date Date MONTHLY CASH SAVINGS ($ in millions) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan 0.144 0.144 0.144 0.144 0.144 0.144 0.144 0.144 0.144 0.144 0.144 0.144 1.729 Actual/Proj. 0.125 0.125 0.125 - - - - - - - - - 0.375 Month Var. (0.019) (0.019) (0.019) (0.144) (0.144) (0.144) (0.144) (0.144) (0.144) (0.144) (0.144) (0.144) (1.354) YTD Var. (0.019) (0.038) (0.057) (0.201) (0.345) (0.490) (0.634) (0.778) (0.922) (1.066) (1.210) (1.354) (1.354) Frequency of Update to Actuals: PEG Has Been Fully Implemented: Quarterly No
2015 LIRR PEG/BRP Monitoring Program 1st Quarter 2015 results In 2015, 2 BRP/PEG s are being monitored with a full-year savings of 0 positions and $7.6 million. Results through the first quarter show that $1.2 million or 100% of the planned BRP/PEG reductions of $1.2 million were realized and 0 positions were reduced. Additionally, 16.1% of the planned full-year savings were realized in the first quarter. At year-end, savings for the monitored BRP s are projected to be $7.6 million or 100% of the planned reductions and 0 positions will be reduced.
MTA Long Island Rail Road 2015 PEG Monitoring Milestone Report Tracking No. 1st Quarter 2015 (Actuals through March) LIRR 10-01 PEG Name: PEG Description: Air Rights Through a formal RFP process, the MTA and LIRR have identified a property owner interested in purchasing air rights over the Rail Road right of way and transferring them to his/her own adjacent property. Negotiations over the purchase price and other consideration are ongoing, but MTA Real Estate estimates the minimum to be $3 million. PEG Status: The air rights over Brooklyn Block 5802 Lot 43, located between 6th and 7th Avenues is no longer an active project, as the prospective buyer learned that he would require a special permit from NYC Dept of City Planning before he could use any air rights, and because LIRR Strategic Investments raised concerns over the impact this transaction might have on future freight capacity. As a result, MTA Real Estate does not anticipate any transaction for this specific portion of the Bay Ridge right-of-way in the near future, and the forecast will be adjusted accordingly in the July Financial Plan. Excluding Bay Ridge, $0.4 million of real estate sales were completed in 2014. In 2015, MTA Real Estate is close to being in contract on the second Johnson Avenue parcel (the first parcel was sold in 2014). The contract amount will be $95,000, against which MTA Real Estate has received a $9,500 deposit. PEG VALUE: ($ in millions) 2010 2011 2012 2013 2014 2015 $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. Original Plan: Feb-10 3.000 0 0.000 0 0.000 0 0.000 0 0.000 0 0.000 0 Modified Plan: Nov-10 0.000 0 3.000 0 0.000 0 0.000 0 0.000 0 0.000 0 Modified Plan: Nov-11 0.000 0 0.000 0 3.000 0 0.000 0 0.000 0 0.000 0 Modified Plan: Nov-12 0.000 0 0.000 0 0.000 0 3.000 0 0.000 0 0.000 0 Modified Plan: Nov-13 0.000 0 0.000 0 0.000 0 0.000 0 3.000 0 3.000 0 Modified Plan: Jul-14 0.000 0 0.000 0 0.000 0 0.000 0 0.400 0 2.600 0 Planned Revised Actual CRITICAL TASKS & MILESTONES: Date Date Date A property owner interested in purchasing the air rights has been identified. Dec-09 Air Rights are purchased. Dec-10 Dec-15 MONTHLY CASH SAVINGS: ($ in millions) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan - - - - - - - - - - - 2.600 2.600 Actual/Proj. - - - - - - - - - - - 2.600 2.600 Month Var. - - - - - - - - - - - - - YTD Var. - - - - - - - - - - - - - Frequency of Update to Actuals: PEG Has Been Fully Implemented: Quarterly No
MTA Long Island Rail Road 2015 PEG Monitoring Milestone Report Tracking No. 1st Quarter 2015 (Actuals through March) LIRR 15-01 PEG Name: PEG Description: PEG Status: Inventory/Material Management The LIRR's continuing efforts to tighten controls on material procurement and inventory planning coupled with the successful approach to rolling stock maintenance through the implementation of a Reliability Centered Maintenance program, which has yielded high MDBF levels and reduced unplanned repairs, has resulted in savings from inventory draw down and lower material usage. On Target. The material requirements to support the FY15 Reliability Centered Maintenance program (RCM) efforts are $61.000 million. Based on current inventory levels and the amount of orders received and on requisition, the LIRR anticipates purchasing $5.0 to $10.0 less material, allowing a drawn-down from existing on-hand inventory which will represent cash saving. PEG VALUE: ($ in millions) 2014 2015 2016 2017 2018 $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. Original Plan: Nov-14 0.000 5.000 4.500 4.500 4.500 Planned Revised Actual CRITICAL TASKS & MILESTONES: Date Date Date Identify Oct-14 Oct-14 MONTHLY CASH SAVINGS: ($ in millions) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan 0.316 0.396 0.509 0.457 0.447 0.443 0.369 0.399 0.400 0.457 0.401 0.406 5.000 Actual/Proj. 0.316 0.396 0.509 1.221 Month Var. - - - (0.46) (0.45) (0.44) (0.37) (0.40) (0.40) (0.46) (0.40) (0.41) (3.78) YTD Var. - - - (0.46) (0.90) (1.35) (1.72) (2.12) (2.52) (2.97) (3.37) (3.78) (3.78) Frequency of Update to Actuals: PEG Has Been Fully Implemented: Quarterly No
2015 MNR BRP Monitoring Program 1st Quarter 2015 results In 2015, 2 BRP s are being monitored with a full-year savings of $2.0 million. for these 2 BRP s will not start to take effect until the 3 rd quarter of 2015.
MTA Metro-North Rail Road 2015 BRP Monitoring Milestone Report Tracking No. 1st Quarter 2015 BRP Monitoring Milestone Report MNR 15-01 BRP PEG Name: PEG Description: Changes to Genesis and BL20 Locomotive Overhaul Cycles 2015-18 - $1.0 million, expected savings on new Genesis and BL20 Locomotive overhaul cycles due to scheduling changes in the start-up and ongoing implementation of the overhaul program. PEG Status: 2015 savings is expected at end of year as there is equipment currently going through overhaul process. This BRP savings initiative is related to reducing the originally expected number of units to be completed in a given year. PEG VALUE: ($ in millions) 2014 2015 2016 2017 2018 $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. Original Plan: 0.000 0 1.000 0 1.000 0 1.000 0 1.000 0 0 0 0 0.000 0 0.000 0 0.000 0 Planned Revised Actual CRITICAL TASKS & MILESTONES: Date Date Date Jul-14 Changes to Genesis and BL20 Locomotive Overhaul Cycles Jul-14 - Jul-14 KEY INDICATORS: Revenue Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 1.000 1.000 Actual/Proj. - Month Var. - - - - - - - - - - - - - YTD Var. - - - - - - - - - - - - - MONTHLY CASH SAVINGS: ($ in millions) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan - - - - - - - - - - - - - Actual/Proj. - - - - Month Var. - - - - - - - - - - - - - YTD Var. - - - - - - - - - - - - Frequency of Update to Actuals: PEG Has Been Fully Implemented: Quarterly
MTA Metro-North Rail Road 2015 BRP Monitoring Milestone Report Tracking No. 1st Quarter 2015 BRP Monitoring Milestone Report MNR 15-02 BRP PEG Name: PEG Description: Eliminate 2015 Service Plan Provisional 2015-18 - $1.0 million in 2015 and then $1.3 million thereafter, reflecting elimination of 2015 provisional but not approved service changes, reducing crew needs and power/fuel expenses. A provision for ridership growth remains in the forecast. PEG Status: 2015 savings will commence in July reflecting initial service add timing. Full twelve month savings will commence in 2016. PEG VALUE: ($ in millions) 2014 2015 2016 2017 2018 $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. Original Plan: 0.000 0 1.000 11 1.300 0 1.300 11 1.300 11 0 0 0 0.000 0 0.000 0 0.000 0 Planned Revised Actual CRITICAL TASKS & MILESTONES: Date Date Date Nov-14 Eliminate 2015 Service Plan Provisional Nov-14 - Nov-14 KEY INDICATORS: Revenue Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan Actual/Proj. - Month Var. - - - - - - - - - - - - - YTD Var. - - - - - - - - - - - - - MONTHLY CASH SAVINGS: ($ in millions) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan - - - - - - 0.167 0.167 0.167 0.167 0.167 0.167 1.000 Actual/Proj. - - - - - - - - - - - - - Month Var. - - - - - - 0.167 0.167 0.167 0.167 0.167 0.167 1.000 YTD Var. - - - - - - 0.167 0.333 0.500 0.667 0.833 1.000 Frequency of Update to Actuals: PEG Has Been Fully Implemented: Quarterly
2015 MTA Bus BRP Monitoring Program 1st Quarter 2015 results In 2015, 1 BRP is being monitored with a full-year savings of $10.2 million. Results through the first quarter show that $2.5million or 100% of the planned BRP reductions of $2.5 million were realized. Additionally, 25.0% of the planned full-year savings were realized in the first quarter.
MTA Bus Company 2015 BRP Monitoring Milestone Report 1st Quarter (Actuals thru March) Tracking No. MTA Bus 15-01 BRP BRP Name: BRP Description: BRP Status: Shop Overhaul The Shop program is complex with significant issues including the following: generated by not overhauling MCI '05 &'06 due to planned retirement in 2017. As a result of extending and eliminating MCI overhauls, 2011 CNGs have been accelerated to a 4 year overhaul cycle. MTA Bus is in the process of doing a tear down of the MCI engines ('06,'07 &'09) to finalize the scope of work. As a result, the number of MCI engines in 2015 has been reduced until the final workscope is determined, and the balance was reallocated to 2016 and 2017. The tear down process of the MCI engines in 2015 has been completed and the final workscope has been finalized. This PEG has been fully implemented for the 1st quarter. BRP VALUE ($ in millions): 2014 2015 2016 2017 2018 $ Pos. $ Pos. $ Pos. $ Pos. $ Pos. Original Plan: Jul-14 0.000-10.159-5.087-0.985-0.603 - Modified Plan: Planned Revised Actual CRITICAL TASKS & MILESTONES: Date Date Date 1 Shop Overhaul Jul-14 KEY INDICATORS: MONTHLY CASH SAVINGS ($ in millions) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Plan 0.847 0.847 0.847 0.847 0.847 0.847 0.847 0.847 0.847 0.847 0.847 0.847 10.159 Actual/Proj. 0.847 0.847 0.847 2.541 Month Var. 0.000 0.000 0.000 (0.847) (0.847) (0.847) (0.847) (0.847) (0.847) (0.847) (0.847) (0.847) (7.618) YTD Var. 0.000 0.001 0.001 (0.845) (1.692) (2.539) (3.385) (4.232) (5.078) (5.925) (6.771) (7.618) (7.618) Frequency of Update to Actuals: BRP Has Been Fully Implemented: Quarterly