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Transportation Financial Overview

Transportation Financial Overview . Public Transportation Facts. Transformed from private to public in 1960’s Federal Mandates (ADA, Contracting) 500 organizations provide public transportation in the U.S. $48.4 billion industry employing 380,000 people

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Transportation Financial Overview

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  1. Transportation Financial Overview

  2. Public Transportation Facts • Transformed from private to public in 1960’s • Federal Mandates (ADA, Contracting) • 500 organizations provide public transportation in the U.S. • $48.4 billion industry employing 380,000 people • Each $1 invested in public transportation generates $4 in economic returns • Transportation is second largest household expense • Transit investment & maintenance not keeping pace with demand • Transportation Modes • Bus • Light Rail • Paratransit • Commuter Rail • Heavy Rail • Trolley Source: APTA 2010 Public Transportation Fact Book

  3. Public Transportation Facts (Cont’d) • Americans took 10.2 billion trips on public transportation in 2009 • 1995-2009: 31% ridership growth vs. 15% population growth

  4. Public Transportation Financial Characteristics • Sensitivity to Economic Conditions • Highly Subsidized • Capital Intensive • Financial Restrictions • Regulatory Environment • Stakeholder Influence • “Transit Paradox”

  5. RTD External Influences

  6. Public Transportation Economics Funding Sources • Taxes • Passenger Fares • Federal Assistance • Local Assistance • Debt Financing • Other • Expenditures • Operating Expenses • Capital • Debt Service • Expansion Balanced Budget = Funding Sources + Reserves ≥ Expenditures

  7. Public Transportation Funding Sources Source: APTA 2010 Public Transportation Fact Book

  8. Public Transportation Funding Source Components Taxes • Sales & Use • Property • Income • Vehicle Lease • Gas • Payroll • Occupancy • Franchise • Increment • “Sin” Passenger Fares • Cash • Passes • Federal/Local Assistance • Operating Grants • Capital Grants • Debt Financing • Bonds • COPs • Commercial Paper • Anticipation Notes • New • Tolling • Congestion Pricing • Emission Fees • VMT • Other • Contracts • Investment Income • Lease Revenues • Rental Cars • Parking • Advertising • Concessions • Vehicle Fees • Business Licenses • Realty Fees • Utility Fees Source: Transit Research Cooperative Program Report 129

  9. RTD Authorized Funding Sources • Passenger Fares • Sales & Use Taxes • Advertising • Lease (DUS & Civic Center Air Rights) • Parking Fees • Certificates of Participation (COPs) • Private Activity Bonds (PABs) • Congestion Pricing • Concessions • Right of Way Leasing • Value Capture/Beneficiary Charges • Transit Oriented Development/Joint Development • Donations

  10. Public Transportation Operating Expenses Source: APTA 2010 Public Transportation Fact Book

  11. Public Transportation Financial Challenges • Matching Service to Available Resources • Availability of Funding Sources • Cost Increases • Capital Maintenance, Replacement & Expansion • Debt Service • Reserve Availability • Predictability of Funding Sources & Uses • “Transit Paradox”

  12. Public Transportation Agencies – Impact of Recession • 90% Report Decreased or Flat Funding • 69% Project Budget Shortfalls in 2010 • 84% to Increase Fares and/or Cut Service • 56% Will Use Reserves • 54% Have Transferred Capital Funds to Operations • 53% Have Eliminated Positions • 32% Have Laid Off Employees Source: March 2010 APTA Impacts of Recession on Public Transportation Agencies

  13. RTD Peer Agency Actions

  14. Regional Transportation District 0.6% Sales Tax Current Operations Bus, Light Rail, Call-n-Ride, Access-a-Ride 0.4% Sales Tax Expansion Projects Light Rail, Commuter Rail, Bus Rapid Transit, DUS, Ongoing Operations, 1% Service Increase

  15. Public Transportation Information Resources American Public Transportation Association www.apta.com Transit Cooperative Research Program www.tcrponline.org National Transit Database www.ntdprogram.gov Federal Transit Administration www.fta.dot.gov RTD www.rtd-denver.com

  16. Fiscal Sustainability Task Force • Next Steps • Review Expenditure Types • Discuss Expenditure Components • Discuss Expenditure Priorities • Discuss Net Assets

  17. Fiscal Sustainability Task Force Questions?

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