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RTA CY2022 Budget
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DESCRIPTION: Request Approval of the RTA's Operating and Capital Budget for CY2022
AGENDA NO: Click or tap here to enter text.
ACTION REQUEST:
? Approval ? Review Comment ? Information Only ? Other
RECOMMENDATION:
recommendation
Authorize the Chief Executive Officer to implement the Operating, Non-Operating, Capital, and Debt Service Budget for the 2022 Calendar Year.
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ISSUE/BACKGROUND:
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Staff is submitting the CY2022 Operating, Non-Operating, Capital, and Debt Service Budget for approval. The budget meets board adopted requirements for CY2022.
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DISCUSSION:
The CY2022 Budget includes operating and capital expenditures that pursue the agency's mission of providing safe and reliable transit service and a world-class rider experience to its customers. Highlighting this year's budget are the following new capital initiatives: (1) the relocation of New Links shelters ($774,000); (2) surveillance systems for ferries and facilities ($250,000); (3) Clever Device installation and integration for ferry operations ($350,000); (4) Clever Device, JD Edwards, Genfare, etc. upgrades ($1.1M); and Phase II of the Rampart Street/Hard Rock Recovery Project. The primary emphasis of the CY2022 Capital Program is to maintain or improve the agency's assets.?
FINANCIAL IMPACT:
The CY2022 Operating Budget includes revenues of $96,313,505 and expenses of $115,761,808. Operating revenues for CY2022 are increasing by 7.8% while operating expenses are increasing by 4.4% from the revised CY2021 Budget. TMSEL Legacy Costs of $2,124,600 for CY2022 have decreased by 0.21% from CY2021 revised budgeted costs. Government operating assistance for CY2022 is expected to offer $37,981,735 in funding, offsetting the budget deficit largely created from the impact of COVID-19 on the transit system.
NEXT STEPS:
None
ATTACHMENTS:
1. RTA Board Resolution
2. Proposed CY2022 Budget
Prepared By: Dacia Johnson
Title: Administrative Analyst
Revi...
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