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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: board.secretary@vta.org
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: board.secretary@vta.org 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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Operating Reserve Rev
HistoricalOperatingReserves
$100
$120
(Inmillions)
$80
alance
$40
$60
Reserve
$0
$20
OperatingReservesBalance PercentageofBudget
*Projected
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Operating Reserve Rev
(AdoptedFeb2010)
CriticalComponentstokeepoperating
above15%level u s an a are evenuegrow
StateTransitAssistancefundsreturninFY
through
FY17 Newdebtissuedtopurchasebuses
Yearlyunidentifiedcostsavingsbeginning
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Operating Reserve Rev
CurrentFY10&FY11projections
RevisedSTAassumptions
RevisedPreventiveMaintenanceassum
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Operating Reserve Rev
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
FY10 FY11 FY12 FY13 FY14 FY15 FY16
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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Operating Reserve Rev
$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
FY10 FY11 FY12 FY13 FY14 FY15 FY16
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
FY10 FY11 FY12 FY13 FY14 FY15 FY16
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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Operating Reserve Rev
Realdeclineinsalestax
NotkeepingpacewithinflationFarerevenue
Ridershipprojectionsdependonjobassociatedlanduse
Pensionandhealthcarecosts Growin aster than in lation
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uestions and Discussi
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