Title
Preview to the Public Hearing on Orange County Transportation Authority’s Fiscal Year 2023-24 Budget and Personnel and Salary Resolution
Overview
Overview
The Orange County Transportation Authority Fiscal Year 2023-24 Budget presents a balanced plan of sources and uses of funds while providing for the current and future transportation needs of Orange County. The Board of Directors may approve the Orange County Transportation Authority Fiscal Year 2023-24 Budget following the public hearing to be held at the Board of Directors’ meeting on June 12, 2023, at the following Board of Directors’ meeting on June 26, 2023, or in a special meeting convened at their discretion, on or before June 30, 2023. The Board of Directors are also asked to approve the Personnel and Salary Resolution as part of the budget approval process.
Recommendation(s)
Recommendations
A. Approve by Resolution the Orange County Transportation Authority’s Fiscal Year 2023-24 Budget.
B. Approve the Personnel and Salary Resolution for fiscal year 2023-24.
C. Authorize the Chief Executive Officer, or his designee, to negotiate and execute the software and hardware licensing, maintenance, and emergency support purchase orders, and/or agreements.
D. Approve fiscal year 2023-24 Orange County Transportation Authority member agency contribution to the Southern California Regional Rail Authority, operating subsidy, in an amount up to $50,750,849, including authorization of federal funding to be drawn down directly by the Southern California Regional Rail Authority, in an amount up to $9,534,777. In addition, approve the capital and rehabilitation expenditure budget contingent upon all member agencies’ approval of their respective capital and rehabilitation budgets. The Orange County Transportation Authority’s portion of the costs for capital is $4,129,290 and $25,543,785 for rehabilitation. Also, authorize a working capital reserve contribution of up to $7,150,000 to facilitate the funding of capital expenditures and lessen the necessity of using operating funds to front capital expenditures.