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Financial and Operational Overview of Transit Agency for FY 2011-12

This document provides a comprehensive status report on the financial position, current operations, and service statistics of the Transit Agency for FY 2011-12. It covers key financial aspects such as reserves, accounts payable and receivable, and evidence of cost increases beyond inflation. The report also discusses staffing levels, labor provisions, fuel costs, fare statistics, and proposed changes to healthcare and pension plans. Additionally, it highlights cost-saving initiatives and assumptions impacting the agency's current and future financial status.

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Financial and Operational Overview of Transit Agency for FY 2011-12

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  1. Transit Agency StatusFY 2011-12 • Current Financial Position • Current Operations • Service Statistics/Trends • Funding Statistics/Trends • Other Information/Assumptions • Capital Status Review

  2. Current Financial Position: • Reserves/Retained Earnings

  3. Current Financial Position: • Level of Short-Term Debt/Loans—Identify each line of credit (excludes long-term bond financing)

  4. Current Financial Position: • Accounts Payable – Past due 90 days and over • Accounts Receivable – Past due 90 days and over

  5. Current Operations: • Staffing Level • Contract Provisions • Healthcare • Pension • Fuel • Fares • Other major factors producing cost increases above inflation • Cost Savings Initiatives

  6. Staffing Level/Org Chart • Provide a current organization chart with vacant and new positions. Include a justification for new planned positions. Separate attachment

  7. Labor Provisions • Term of current union contract ________ to __________

  8. Important Labor Provisions • Use of part-time employees • Part time drivers are used as needed basis. No number of hours specified except not over 39 hours. • Number/percent of “split shift” drivers • 100% • Overtime • no allowed • Outsourcing • Other

  9. Healthcare • Describe any proposed changes and the estimated financial impacts.

  10. Pension

  11. Pension: • Describe any proposed changes and the estimated financial impacts. None at this time. • Provide a status of the degree to which the pension funding is funded. If not fully funded please provide your strategy to fully fund pension • Fully funded

  12. Fuel: • Current Cost per Gallon • Contract rate or market rate? $ 3.59 • Terms of contract (if applicable) • Projected Cost per Gallon and Basis for Projection • Contract rate or market rate? $5.00 steadily climbing • Terms of contract (if applicable)

  13. Shared Ride Fares: • Date of Last Fare Increase February 2010 • Current • Average fare $27.21 • Sponsorship arrangements Third party sponsor $ 34,000 • Planned Changes • Date of planned increase 2012 • Estimated average fare to be determined • Sponsorship arrangements • Describe Fare Policy • Fares are based on zones determined by trip length.

  14. Other Major Factors Producing Cost Increases Beyond Inflation:

  15. Cost Savings Initiatives:

  16. Shared Ride Funding

  17. Shared Ride Statistics/Trends

  18. Other Information/Assumptions:

  19. Capital Status Review Replacing vehicles 4 years/ 100,000 miles or more if not cost effective to continue to use.

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