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HomeMy WebLinkAboutAgenda - 02-16-1999 - 10aORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: February 16, 1999 Action Agenda Item No. ~Q _Q SUBJECT: Triangle Transit Authority Annual Financial Report DEPARTMENT: County Manager PUBLIC HEARING: (Y/l~ BUDGET AMENDMENT: (Y/1~ ATTACHMENT(S): TTA Financial Report (under separate cover) INFORMATION CONTACT: County Manager, ext 2300 Jim Ritchey, TTA Gen Mgr, 485-7424 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 336-227-2031 PURPOSE: To receive the Comprehensive Annual Financial Report for the Triangle Transit Authority (TTA) for the fiscal year ending June 30, 1998. BACKGROUND: TTA General Manager Jim Ritchey will present the annual financial report for the 1997-98 fiscal year, and report on TTA's progress in implementing the Regional Transit Plan. County staff have asked Mr. Ritchey to point out information in the financial report that reflects the services Orange County citizens are receiving from TTA in return for revenues raised in Orange County. The Finance Director has observed that TTA undesignated general fund balance of $8.2 million is substantially greater than the $1.3 million in FY98 general fund expenditures. Mr. Ritchey will explain the accounting and programmatic reasons for the large undesignated fund balance. RECOMMENDATION(S): The Manager recommends that the Board receive the report as information. ~ ~ ~ ~ ~ ~ i ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ i ~ d-/W YY Triangle Transit Authority Annual Report Orange County Board of County Commissioners January 19, 1999 Regional Transit Update ^ TTA Status Report ~ Regional Bus Services ~ Buspool Services to Outlying Communities ~ vanpool and Ridesharing Program ^ Capital Projects ~ Bus Operations. and Maintenance Facility ~ 34 New Buses ^ Regional Rail PE / EIS ^ Phase II Extension from Durham to Chapel Hill ^ Regional Bus Service Expansion Plans ~ ~ ~ ~ ^ Current Services ^ Regional Bus Service Twenty-five Peak Buses and Shuttle Vans ^ Buspool Program ~ Mebane, Hillsborough, Knightdale, Wendell, Zebulon, Fuquay- Varina, Apex, Holly Springs, Wake Forest, & North Durham, ^ Vanpool Program ~ 45 Vans Serving Ten Counties Including Wake, Orange, Durham, Alamance, Johnston, Harnett, Lee, Cumberland, Person, Granville ^ Regional Rail Planning 2 rr r r rr rr rr ri rr rr ~r rr rr r r rr rr r r r FY 1998 Operating Results Regional Bus Riders 471,462 +10.6% Regional Bus Miles 1,165,203 + 2.6% Regional Bus Net Cost $1,641,831 - 5.7% Vanpools 45 +28.6% Administrative Expense $543,000 - 5.6% Investment Income $467,973 +32.7% General Fund Balance $9,459,042 +31.5% Regional Rail Fund Bal. $2,481,267 new 3 Regional Transit Plan ^ Phase I ~ Expanded Regional Bus Services ~ Buspool Services to Outlying Communities ~ Regional Rail Service to Durham / RTP / Cary /Raleigh ^ Phase II ~ Bus or Rail Transit Service on New Alignment ~ Chapel Hill to Durham ~ Mid Region and RDU Airport ^ Phase III ~ Regional Rail Extensions to Outlying Communities 4 Critical Issues ~~^~^^^~111 ^ Financing ~ Federal Authorization and Annual Appropriation ~ State Appropriation ~ Phase II Local Share for Mid Region and Chapel Hill Extensions ^ Railroad Access ~ NCRR & CSX "S Line" ROW ^ Transit System Coordination ~ Cooperative Process for Local and Regional Bus Service Planning ^ Environmental Documentation ^ Station Planning ~ Station Locations & Design ~ Station Area Land Development Plans s ~ Phase I Regional Rail Financing Plan ~~~^^^^^~111 Fiscal Year Federal State Regional Bonds 1997 / 1998 $12 $6 $6 1998 / 1999 $25 $12.5 $12.5 1999 / 2000 $25 $12.5 $12.5 2000 / 2001 $25 $12.5 $12.5 2001 / 2002 $13 $6.5 $6.5 $50 Total $100 $50 $50 $50 In millions of 1997 dollars 6 Regional Rail Phase I Implementation Schedule ~~^~^^^~111 Railroad Access Station Planning .Station Area Development Guidelines Station Plans Station Land Use Plans Preliminary En~ineerin~ & Environmental Documentation Bus Services Plan Final Design Construction Financing Phase II Extension from Durham to Chapel Hill ~~~^^~^^~111 ^ 15-501 Major Investment Study • Regional Rail and Busway Corridors Considered • $224 to $304 million Capital Cost • 6,700 to 9,400 Daily Riders • Potential Business & Residential Relocations and Environmental Impacts ^ Issues • Best Technology (Regional Rail /Light Rail /Bus Rapid Transit) • Routing at Duke University • Durham Alignment near South Square, New Hope Creek, and Eastgate • Orange County Alignment near UNC • Source of Fifty Percent (50%) Local /Regional /State Share s Phase II Extension from Durham to Chapel Hill ~~~^^^^^~111 ^ Next Steps ~ Using New Regional Transportation Model Re-Estimate Regional Rail and Bus Rapid Transit Ridership ~ Develop Financing Plan ~ General Assembly Authorization of Local /Regional /State Share ~ MPO Adopts Preferred Alternative for the 15-501 Corridor and Approves Phase II as an Element of the Fiscally Constrained Long Range Transportation Plan ~ FTA Reviews and Approves Request to Enter PE/EIS for Phase II ~ Complete Draft Environmental Impact Statement (2002) ~ Preserve Corridor ~ Design and Construction (2003 - 2008) 9 Regional Bus Service nA Expansion ~~^~^^^~111 ^ Bus Center Completion Mid 1999. ^ Evening and Weekend Bus Service September 1999 ^ Improve On-Time Performance on Existing Routes ^ New Services with 34 New Buses ~ Hillsborough to Durham to RTP Express ~ Raleigh / NCSU / Cary / Davis Drive /RTP ~ Garner /Raleigh with Connection to RTP ~ Apex to RTP via NC 55 ~ North Raleigh to RTP via 540 ~ Chapel Hill /RTP /Raleigh Express to TTA Projected Fund Balance ^~~^^^^^~~u Fiscal Year 1998 1999 2000 2001 2002 2003 2004 General Fund $9,459,042 $10,483,958 $10,748,243 $10,751,426 Rail Cap. Fund Combined $2,481,267 $11,941,309 $7,483,552 $17,967,510 $8,216,850 $18,965,093 $3,122,726 $13,874,152 $9,405,263 -$1,526,601 $7,918,161 -$5,638,941 $6,276,316 -$3,110,499 $7,878,662 $2,279,220 $3,165,817 11 BUDGETED EXPENDITURES BY PROGRAM AND FUND Actual FY 1888 General Fund Governing Board 17,798 General Management 543,000 Planning 485,038 Capital Outlay 43,997 Transfer to Bus Capital Projects-Main Fac 49,300 Transfer to Bus Capital Projects-Buses 351,267 General Fund Total: 1,490,400 Rldesharing Fund Ridesharing Marketing 283,436 Vanpool Operations 103,364 Vanpod Maintenance 26,632 Capital Outlay 8,518 Debt Service - Pdncipal 189,102 Rldesharing Fund Total: 611,052 Regional Bus Service Fund Supervision 359,964 Bus Operations 1,119,353 Maintenance 553,549 BusPool Operation 57,672 Capihdl Outlay 10,372 Debt Service -Principal 276.188 Regional Bus Service Fund Total: 2,377,098 TOTAL EXPENDRURES: 4,478,550 REVENUE PROJECTIONS: General Fund VehiGe Registration Tax Planning Grants Investment Income General Fund Total: Ridesharing Fund Vanpod Fares NCDOT Grant NCDENR Grant Rldesharing Fund Total: Regional Bus Service Fund Fares NCDOT Operating Assistance Section 5307 fa Maintenance Other Regional Bus Service Fund Total: TOTAL REVENUES REVENUES OVER (UNDER) EXPENDRURES PROJECTED UNDESIGN. FUND BALANCE Protected Projected Projected Projected Projected Pro)ected FY 1999 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 28,250 28,250 28,250 28,250 28,250 28,250 742,850 950,000 1,000,000 1,050,000 1,102,501 1,157,626 1,026,500 2,053,000 2,155,650 3,013,433 3,164,104 3,322,309 213,000 50,000 50,000 50,000 50,000 50,000 1,090,700 - - - - - 465,303 3,101,300 3,548,553 3,233,900 4,141,683 4,344,855 4,558,185 352,860 438,753 460,691 483,725 507,911 533,307 169,100 190,238 214,017 225,000 231,750 238,703 38,000 42,750 48,094 50,000 51,500 53,045 5,000 10,000 5,000 5,000 5,000 5,000 265,000 265,000 265,000 265,000 265,000 265,000 829,960 846,741 992,802 1,028,725 1,061,161 1,095,055 426,200 472,359 537,336 818,142 818,142 818,142 1,303,800 1,605,716 2,136,038 2,366,004 2,366,004 2,366,004 557,000 794,068 1,056,326 1,170,050 1,170,050 1,170,050 142,400 145,000 145,000 145,000 145,000 145,000 42,500 15,000 15, 000 15,000 15,000 15,000 83,200 41,600 20,800 - - - 2,555,100 3,073,744 3,910,501 4,514,196 4,514,196 4,514,196 6,486,360 7,567,037 8,137,203 9,684,604 8,920,212 10,167,435 4,552,792 4,689,376 4,830,057 4,974,959 5,124,208 5,277,934 5,436,272 27,243 462,905 462,905 462,905 462,905 462,905 462,905 445,000 472,952 524,198 537,412 537,571 470,263- 395,908 5,025,035 5,625,232 5,817,159 5,975,275 6,124,683 6,211,101 6,295,084 284,603 477,100 507,988 532,111 545,000 553,250 561,748 84,379 146,039 146,039 146,039 146,039 146,039 146,039 83,855 - - - 452,837 623,139 654,027 678,150 691,039 699,289 707,787 360,927 400,000 497,232 624,055 659,815 659,815 659,815 447,552 400,000 400,000 400,000 400,000 400,000 400,000 462,905 462,905 462,905 462,905 462,905 462,905 362,930 - - - - - 1,171,409 1,262,905 1,360,137 1,486,960 1,522,720 1,522,720 1,522,720 6,849,281 7,511,276 7,831,322 6,140,385 8,338,442 8,433,110 8,525,590 2,170,731 1,024,916 264,286 3,182 (1,346,162) (1,487,102) (1,641,845) 9,459,042 10,483,858 10,748,243 10,751,426 9,405,263 7,918,161 6,276,316 l REGIONAL RAIL CAPITAL PROJECT Actuai Protected Protected Projected Projected Projected Protected FY 1898 FY 1998 FY 2000 FY 2001 FY 2002 FY 2003 FY 2004 PHASE I REGIONAL RAIL CAPITAL EXPENDITURES PE / EIS 360,900 3,611,192 Final Design 8,100,000 2,900,000 Administration 900,000 1,970,000 1,970,000 1,970,000 390 000 ConslNdion Management 2,560,000 2,560,000 2,560,000 , 1 120 000 Right - of -Way 15,000,000 3,000,000 , , Railroad Improvements 34,570,000 36,570,000 33,470,000 19 390 000 Stations and Parking 5,000,000 6,000,000 6,000,000 , , 2 000 000 Rail Maintenance Facility 2,900,000 6,000,000 , , 3 100 000 Regional Rail Cars 25,700,000 24,300,000 , , Total Regional Rail Capital Expenditures: 360,900 3,611,192 24,000,000 50,000,000 75,700,000 74,300,000 26,000,000 PHASE 1 REGIONAL RAIL CAPITAL REVENUES Rental Vehide Tax 2,552,753 5,781,019 6,359,121.12 6,995,033.23 7,694,536.56 8,463,990.21 9,310 389.23 FTA New Start 120,267 1,805,596 12,000,000 25,000,000 25,000,000 25,000,000 , 13,000 000 NCDOT 146,811 902,798 6,000,000 12,500,000 12,500,000 12,500,000 , 6 500 000 Net Bond Proceeds 25,700,000 24,300,000 , , Invesimentlncome 124,063 374,178 410,843 156,136 (76,330) (281,947) Total Regonal Rall Capital Revenues: 2,619,831 8,813,477 24,733,299 44,905,876 71,050,673 70,187,660 28,528,442 REVENUES OVER (UNDER) EXPENDTURES 2,458,931 5,002,285 733,299 (5,094,124) (4,649,327) (4,112,340) 2,528,442 PROJECTED RAIL FUND BALANCE 2,481,267 7,489,552 8,216,850 3,122,726 (1,526,601) (5,638,941) (3,110,499)