Santa Clara County Transportation Agency (VTA) Presentation On Funding Problems Involving Caltrain...

8/7/2019 Santa Clara County Transportation Agency (VTA) Presentation On Funding Problems Involving Caltrain (May, 2010)

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SANTA CLARA VALLEY TRANSPORTATION AUTHORITY

AD-HOC FINANCIAL RECOVERY COMMITTEE

Wednesday, May 5, 2010

3:00 P.M.

VTA River Oaks Campus

Auditorium3331 North First Street

San Jose, CA

AGENDA

1. CALL TO ORDER/ROLL CALL2. PUBLIC PRESENTATIONS: This portion of the agenda is reserved for persons

desiring to address the Committee on any matter not on the agenda. Speakers are

limited to 2 minutes. The law does not permit Committee action or extended discussion

on any item not on the agenda except under special circumstances. If Committee action

is requested, the matter can be placed on the next agenda. All statements that require aresponse will be referred to staff for reply in writing.

3. CHAIRPERSONS REPORT

4. Review Partner Agencies

Altamont Commuter Express Caltrain Santa Cruz Metro/Monterey Salinas Transit/Dumbarton/AC Transit

5. Review Reserve Levels

6. Review Stakeholder Ideas for Financial Recovery

7. ADJOURN

NOTE COMMITTEE MEMBERS: In order to establish a quorum for this meeting,members are asked to call Board Office at (408) 321-5680 or E-mail: [email protected]

before 5:00 p.m. on the day prior to the meeting. Thank you for your cooperation.

In compliance with the Americans with Disabilities Act (ADA), those requiring

accommodations or accessible media for this meeting should notify the Board SecretarysOffice 48 hours prior to the meeting at (408) 321-5680 or E-mail: [email protected] or

TDD (408) 321-2330. VTAs Homepage is located on the web at: http://www.vta.org

NOTE: THE COMMITTEE MAY TAKE ACTION ON ANY ITEM IDENTIFIED ON THE AGENDA.


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May2010


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ThreeCommuterRailServicesVTAlocalsalestaxsupport

forcapitalandoperating

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Caltrain

HistoryandGovernance

JointPowersBoardformedin1991afterstaterelinquishesfinancial

support.PurchaseofPeninsula

rightofwayfromSouthernPacific

(VTA,SamTrans,SFMTA)support

operationsbasedroughlyonAM

pea use;cap a sequa ys are

exceptinprojectsdeemedlocal VTAisres onsibleforallca ital

expensessouthofTamien

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Caltrain

39,122 AverageWeekdayBoardingsSystemwide

BoardingsSouthofTamien:422(1%)

VTAscosttosupporttheCaltrainOperatingSupport Capital

Su

VTAscosttosupporttoperatingprogram:$15.9millionFY10

program(2010SRTP):$2.9millionF

(SamTrans$16.5M,SanFrancisco$7M)

$214millionFY1019(includesVTAoverhead)$36millionFY$154million

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Caltrain

$25

$20

n(millions) perat ng ontr ut on

$10

Contributio

0

$5

Annual Capital

2010 2011 2012 2013 2014 2015 2016 201

5


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AltamontCommuterExpress(ACE)HistoryandGovernance

OperatedbySanJoaquin

RegionalRailCommission

StartedasaJointPowers

Authority(JPA),butnowa

Ridershippeakedin2001at

4,762dailyriders

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AltamontCommuterExpress(ACE)2,600AverageWeekdayBoardingsSystemwide

VTAscosttosupporttheACEoperatingOperatingSupport Capital

Su

VTAscosttosupporttprogram:

$2.7millionFY10program:

$10millionM$54millionFY1019(includesVTAoverheadandshuttle

expenses)

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AltamontCommuterExpress(ACE)2,600AverageWeekdayBoardingsSystemwide

$3.0

$3.5

$4.0

million

s)

$1.5

$2.0

$2.5

ntribution(

0.0

$0.5

$1.0

AnnualCo

8

2010 2011 2012 2013 2014 2015 2016 2017


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CapitolCorridorHistoryandGovernance

AdministeredbyCapitalCorridorJointPowers

(CCJPA),staffedbyBART,operatedbyAmtrak

FullyfundedbyState

CCJPABoardhastwomembers

counties,includingSantaClara

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CommuterRailChallengesforVTA Programs bothACE andCaltrain drivenbyregio

agencies

Commuterrailwillreceivelargeinfusionsofstat

capitalmoneywhichwillrequiresomedegreeo

ForCaltrain,higherlevelsofoperationwillrequoperatingsubsidy

,dailytrains,butplanningeffortsunderwaytoinc

levels

Partnershavedifferentviewsonfutureservices

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ServiceSpecificIssuesCaltrainSpecificIssues

support VTAFinanceCommittee(May),VTABo

CombinedHSR/Caltrainsystem

Localcapitalmatchingneeds

Operations leveloffrequency financialsuppo

Sout Countyserviceremainsunc ange ye e

project

CaliforniaHighSpeedRailAuthorityandSJRRCsupgrade nosourceofoperatingfunds

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CentralCommuterRailIssuesFaced VTAparticipatesbutdoesnotcontrolthesepr

services

InsufficientVTAfundstoparticipateinthebuild

services

ACEdoesnotserveSantaClaraCountyresidents

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VTARoleinCommuterRail? Reduced Samtrans support?

operatingentity

JPBrole?

IfACEhopestomaintainandexpanditsoperatio

operatingandfinancingarrangementisrequired

extendedtoSalinas,anewoperatingandfinanc

arrangementisrequired

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PolicyOptions Limitcontributionstomatchreducedpartnersu

ofphasinglocalfundingout

Advocateforregional/statecommuterrailautho

independentfundingsource

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End

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1

InteragencyBusServices

SevendayaweekexpressservicefromSantaCruztoSanJose PartnershipwithSantaCruzMetro,CapitolCorridorandStateofCalifornia ServicemanagedandoperatedbySantaCruzMetro CurrentMOUexpiresSeptember30,2010;originallystartedafter1989LomaPrietaearthquake CapitolCorridor&Statefund$125,000annually;VTA&Metrosplitremainderequally VTAoperatingshareprojected$300,000inFY10 Averagedailyridership: 942weekday(6.4%fromlastyear),535Saturday,547Sunday VTAcostperpassenger=$0.96

WeekdayTransbayexpressservicefromUnionCityBARTtoPaloAlto/StanfordResearchPark ServicemanagedandoperatedbyACTransit PartnershipandfundingMOUwithACTransit,SamTrans,BART,UnionCity CurrentMOUexpiresOctober31,2010 VTAfunds41%ofnetcostsannuallybasedonalldayridership(projected$359,000inFY10) 974averagedailyridership,down4.5%fromlastyear VTAcostperpassenger=$1.45

PartnershipwithMontereySalinasTransitandCapitolCorridor,startedAugust2006 CurrentMOUexpiresAugust27,2011 $35,000annualsubsidyfromVTA ThreeroundtripsfromMontereytoSanJosesevendaysaweek. SCCstops: Gilroy,MorganHill,SJSU,downtownSanJose,SanJoseDiridonStation ServicemanagedandoperatedbyMontereySalinasTransit 79passengers peraverageweekday,down19%frompreviousyear VTAcostperpassenger=$1.22


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2

FreeweekdayshuttleconnectingSanJoseDiridonStationwithDowntownSanJose $1.4Mannualexpense(FY2010)funded$548kTFCAgrant,$200kCityofSanJose,$614kVTA FundingagreementwithCityofSanJoseexpiresonJune30,2012 ManagedandoperatedbyVTA 947averagedailyridershipFYTD VTAcostperpassenger=$2.69

FreeAirportFlyerbusserviceconnectsSanJoseInternationalAirportterminalswithVTAsMetro/AirportLightRailStationandtheSantaClaraCaltrainStation

CooperativefundingagreementwithCityofSanJoseexpiresJune30,2012Managed

and

operated

by

VTA

$3.7Mannualoperatingexpense(FY2010)funded$1.1MCityofSanJoseand$2.6MVTA Averagedailyridership: 1146weekday,838Saturday,849Sunday VTAcostperpassenger=$6.79

IBM/HitachiShuttle ConnectslightrailandCaltraintoIBMandHitachiinSouthSanJose $191,839FY2010expensefundedfrom$35,500TFCAgrantand$156,339fromHitachi AgreementswithTFCAandHitachiexpireonJune 30,2010 99averageweekdayridershipFYTD VTAcostperpassenger=$0asnoVTAlocalfundsareprovided

Shuttles

8routesusing10propanepoweredvehicles,undercontracttoElPaseo $1.1Millionannualexpensefundedfrom$960,000TFCAgrant,$34kLockheed,$137kSJRRC VTAreceives$86,000adminfeefromSJRRCtocontractfor,planandmanageshuttles 785averagedailyridership,down21%fromlastyear VTAcostperpassenger=$0

J. Unites, Service & Operations Planning

5/6/2010 9:59 AM


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Inter-agency Partners Ridership

March

2010

Dumbarton Express Boardings 21,894

Dumbarton Average Weekday 952

Highway 17 Express Boardings 27,578 Highway 17 Average Weekday 970

Monterey-San Jose Express Boardings 3,100

Monterey-San Jose Average Weekday 99

Caltrain Boardings 999,004 9

Caltrain Average Weekday 36,056

Altamont Commuter Express Boardings 61,012 ACE Average Weekday 2,653

Capitol Corridor Boardings 133,987 1

Contracted Services Ridership

March

2010

Paratransit Boardings 79,335

Paratransit Average Weekday 3,134

ACE Shuttles Boardings 19,428

ACE Shuttles Average Weekday 845

IBM/Hitachi Light Rail Shuttle Boardings 2,161

IBM/Hitachi Shuttle Average Weekday 94


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AdHocFinancialRecoveryCom

May5,2010


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Operating Reserve Rev

15%ofoperatingbudget

Ensuressufficientfundsavailableinevent

unanticipatedrevenueshortfallsorunavo

Withoutreserves,thesetypesofneedscomet b shar and immediate transit servi

reductions,

contrary

to

the

central

missioorganization


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HistoricalOperatingReserves

$100

$120

(Inmillions)

$80

alance

$40

$60

Reserve

$0

$20

OperatingReservesBalance PercentageofBudget

*Projected


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(AdoptedFeb2010)

CriticalComponentstokeepoperating

above15%level u s an a are evenuegrow

StateTransitAssistancefundsreturninFY

through

FY17 Newdebtissuedtopurchasebuses

Yearlyunidentifiedcostsavingsbeginning


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CurrentFY10&FY11projections

RevisedSTAassumptions

RevisedPreventiveMaintenanceassum


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FY10 FY11 FY12 FY13 FY14 FY15 FY16

Revenues 346.04 322.36 348.07 362.99 368.73 372.91 391.98

Expenses 340.91 348.33 380.10 399.88 401.70 417.71 449.15

Surplus/(Deficit) 5.13 (25.97) (32.03) (36.89) (32.97) (44.80) (57.17)

EndingOperatingReserves


BeginningOperatingReserves 46.05 51.18 25.21 (6.82) (43.71) (76.68) (121.48

Ending OperatingReserves 51.18 25.21 6.82 43.71 76.68 121.48 178.65


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$100UpdatedOperatingReserveBalancebyYear

(Inmillions)

$0

$50

$100

$50

2009 2010 2011 2012 2013 2014 2015 2016 2017

$200

$150

$300

$250 15%Reserve

OperatingReserveBalance

$350


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Operating Reserve RevU dated10YearOutlookAssumin $40MAnnualCostSav


Revenues 346.04 322.36 348.07 363.17 369.15 374.32 395.17

Expenses 340.91 348.33 337.73 355.77 356.90 372.11 401.86

Surplus/(Deficit) 5.13 (25.97) 10.34 7.40 12.25 2.21 (6.69)

EndingOperatingReserves


BeginningOperatingReserves 46.05 51.18 25.21 35.55 42.95 55.20 57.4

Ending OperatingReserves 51.18 25.21 35.55 42.95 55.20 57.41 50.7

OperatingReservePercentage 14.8% 7.2% 10.5% 12.1% 15.5% 15.4% 12.6%


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Operating Reserve RevU dated10YearOutlookAssumin $40MAnnualCostSav

$100

UpdatedOperatingReserveBalancebyYear(Inmillions)

$0

$50

$100

$50

2009 2010 2011 2012 2013 2014 2015 2016 20

$200

$150

$300

$250 15%Reserve

OperatingReserveBalance

$350


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Realdeclineinsalestax

NotkeepingpacewithinflationFarerevenue

Ridershipprojectionsdependonjobassociatedlanduse

Pensionandhealthcarecosts Growin aster than in lation


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uestions and Discussi


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Santa Clara County Transportation Agency (VTA) Presentation On Funding Problems Involving Caltrain...

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