Sound Transit Budget Proposals

8/8/2019 Sound Transit Budget Proposals

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Proposed 2011 Budget

September 23, 2010


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Revenue Down $3.9 b. (-25%)2009-2023

Total Tax Revenue *Jul-08 Aug-09 Aug-10 Aug-09 Aug-10 Aug-09 Aug-10

Snohomish 2 041 1 509 1 458 532 583 26.1% 28.5%

North King 4,111 3,494 3,451 (617) (660) (15.0%) (16.1%)

South King 2,757 2,241 1,906 (515) (851) (18.7%) (30.9%)

East King 4,150 3,281 3,058 (868) (1,092) (20.9%) (26.3%)

Pierce 2,684 2,107 1,991 (577) (692) (21.5%) (25.8%)

Total 15,742 12,633 11,865 (3,109) (3,877) (19.7%) (24.6%)

* Includes Car Rental Tax

*Millions of year-of-expenditures dollars

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Challenge

Severe national recession has reduced agencyrevenues by 25%

Reality

All elements of ST2 ro ram no lon er affordable withinoriginal 15-year timeframe

Res onse

Recommended program re-alignment which sets path toimplement regional system within constrained resources

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by 5%, Board shall: Correct the shortfall through use of such subareas uncommitted

funds and/or bonding capacity which is available to the subarea;

and/or

revised budget; and/or

Extend the time period of completion of the subarea plan; and/or

Seek legislative authorization and voter approval for additionalresources.

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Lessons learned fromSound Move

ace u scope o pro em

Be transparent

Opportunity to

re-affirm core mission and most critical deliverables

re-examine all assumptions and approaches

Seek operational efficiencies

Still early in design for many projects cost risks remain

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Priorities For Reali nment High priori ties

Projects underway or near completionMaintenance of assets

Low priorit ies

Lowest utility in achieving goals of voter approved system planDiscretionary programs

Reserves now ready for release

roecs w un e ne scope or uncer an par ner comm mens Low ridership services

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.

2. Keep Moving: schedule and cost uncertainties &

3. Retain only limited funding to develop options4. Suspendno activity, defund from finance plan

5. Delete from ro ram

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Proposed North Corridor Realignment:(Snohomish & North King County Subareas)

Desi n & Construct as Planned

Projects in construction, under contract U Link - Mountlake Terrace Freeway Station

Northgate - Edmonds Permanent Station

Keep MovingNorthgate-Lynnwood HCT

Mukilteo Station south platform

Edmonds ST2 Station

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Proposed East Corridor Realignment(East King County Subarea)

Desi n & Construct as Planned

Projects in construction, under contract Kirkland Transit Center, R8A

Keep Moving

East Link Limited funding

Overlake-Redmond PE

Passenger Rail Partnership on Eastside rail corridor

Bothell TC10


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Proposed South Corridor Realignmentou ng erce oun y su areas

Design & Construct as Planned

Projects in construction, under contract D-Lakewood

Sounder easements

Keep Moving Link South 200th(Accelerated)

Tacoma Link extension

Sounder track work

Tukwila Sounder Station

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Proposed South Corridor Realignmentou ng erce oun y su areas

Link South of 200th (awaiting options review by board). . .

South King Sounder Station Access projects

Sounder Platform extension

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Proposed Operating Cost Savings

Regional Express Bus

, .

2011 service will rise more slowly than anticipated in 2010 SIPdue to service reductions

78,000 of original 100,000 ST2 new hours will be implemented

Other route changes, restructuring and reductions

oun er ommu er a

1 year delay of four new ST2 Sounder round trips

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- -

Agency admin

Fare Integration

annng

Insurance

Delete System Access (grants) $88 m.

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By end year 2010, finalize current status of all

2011 forwardProject-b -project updates and reviews as cost andrevenue information changes

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2010 Accomplishments Implemented 66k hours of

ST2 new bus service

additional Soundercommuter rail service

- Edmonds Station

groundbreaking PE on East Link AA on Lynnwood extension Burien TC partnership Carry est. 25m passengers

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FY 2011 BudgetPrepares for Continued Transit Expansion

Selectively add resources to

uppor an manage cap a proecs

Continue safe, effective operation and maintenance of

Keep assets in state of good repair

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2011 Proposed Budget$(000)

Interest Earnings1%

MiscellaneousRevenue

3%

Revenue $844,339

Retail Sales &Use Tax

64%

Farebox Revenue

5%

Expenditures $1,091,594

Rental Car Tax

Federal Grants19%

Agency

Administration15%

Motor VehicleExcise Tax

8%

Service DeliveryProject Delivery

68%

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Pro osed 2011 Pro ect Deliver($000s)

Service Delivery6%

Other Agency

1%

,

Link Light Rail73%

RegionalExpress Bus

5%

Sounder CommuterRail

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Final design North Link

or orr or a erna ves anayss

Design East Link and Link to South 200th Open

Kirkland Transit Cente

Mountlake Terrace Freeway Station

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Pro osed 2011 Service Deliver($000s)Sounder Commuter

Rail $187 077

Central Link LightRail

18%

Tacoma Link LightRail2%

ST Express Bus52%

Contingency1%

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Carrying More Riders Each Year

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Proposed 2011 Agency

m n s a on($000s)

Capital

m n s ra veCapital

3%

25%

Net Staff OperatingBudget

15%

Net Non-OperatingExpenses

Debt Service47%

Emergency/LossReserve

6%

4%

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Budget Schedule Budget Kickoff- Sept 23rd Board budget workshop- Sept 30 Executive Financial Plan review- Oct 7 Capital and Ops Committee reviews - Oct-Nov

Open Houses Oct

- Executive Committee - Dec 4 Board budget adoption- Dec 16

Ongoing phase/gate actions to monitor andreview program changes

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Quality transit services in all modes

ransparen , rea s c pannng ey or success

-end-

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Sound Transit Budget Proposals

Documents

Transcript of Sound Transit Budget Proposals