Title
Fiscal Year 2020-21 Proposed Budget Amendment
Overview
Staff proposes a budget amendment to update the Orange County Transportation Authority’s Fiscal Year 2020-21 Approved Budget. This amendment better aligns the budget with anticipated revenue and expenditures through the balance of the fiscal year by funding commuter rail operations for the remainder of the year, reducing bus program revenues and expenditures based on reduced service levels, and adds positions for Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency, which will be fully reimbursed by the State.
Recommendation(s)
A. Amend the Orange County Transportation Authority’s Fiscal Year 2020-21 Budget by reducing the revenue and expense budgets, in the amount of approximately $28 million, to accommodate updated budget assumptions for revenue and expense items.
B. Approval of the full Fiscal Year 2020-21 Orange County Transportation Authority member agency contribution to the Southern California Regional Rail Authority, in an amount up to $28,773,477, including authorization of Federal Transit Administration funds, in an amount up to $8,500,000, to be drawn down directly by the Southern California Regional Rail Authority. Also included in Southern California Regional Rail Authority’s operating subsidy proposal is the direct draw down of The Coronavirus Aid, Relief, and Economic Security Act funding in the amount of $17,159,239.
C. Authorize Federal Transit Administration funds, in an amount up to $12,969,650, to be drawn down directly by the Southern California Regional Rail Authority for capital and rehabilitation expenditure budget contingent upon all member agencies’ approval of their respective capital and rehabilitation budgets.
D. Authorize the addition of four new positions to the Orange County Transportation Authority. The four positions are requested to accommodate the Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s FY 2020-2021 Approved Budget. The four positions include a Project Manager, Senior, Transportation Funding Analyst, Senior, Accounting Analyst, Associate, and a Deputy Managing Director.