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OPERATING BUDGET Two-Year Financial Plan and Five-Year CAPITAL PROGRAM

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OPERATING BUDGET Two-Year Financial Plan and Five-Year CAPITAL PROGRAM 2018 OPERATING BUDGET Two-Year Financial Plan and Five-Year CAPITAL PROGRAM Northeastern Illinois MOVING YOU March 2018 RTA 2018 OPERATING BUDGET, TWOͳYEAR FINANCIAL PLAN AND FIVEͳYEAR CAPITAL PROGRAM RTA Board of Directors Chairman Phil Fuentes Christopher C. Kirk Dillard AppoinƟ ng Authority: Melvin, Jr. AppoinƟ ng Authority: City of Chicago AppoinƟ ng Authority: RTA Board of Directors City of Chicago Anthony K. Anderson Ryan S. Higgins Sarah Pang AppoinƟ ng Authority: AppoinƟ ng Authority: AppoinƟ ng Authority: City of Chicago Suburban Cook County City of Chicago William R. Coulson Blake Hobson J.D. Ross AppoinƟ ng Authority: AppoinƟ ng Authority: AppoinƟ ng Authority: Suburban Cook County McHenry County Will County Donald P. DeWiƩ e Thomas J. Kotel Douglas M. Troiani AppoinƟ ng Authority: AppoinƟ ng Authority: AppoinƟ ng Authority: Kane County City of Chicago Suburban Cook County Patrick J. Durante Michael W. Lewis Leanne P. Redden AppoinƟ ng Authority: AppoinƟ ng Authority: ExecuƟ ve Director DuPage County Suburban Cook County John V. Frega Dwight A. Magalis AppoinƟ ng Authority: AppoinƟ ng Authority: Suburban Cook Lake County County ii RTAChicago.org RTA 2018 OPERATING BUDGET, TWOͳYEAR FINANCIAL PLAN AND FIVEͳYEAR CAPITAL PROGRAM LeƩ er from the ExecuƟ ve Director Onceagain,theRTAandtheServiceBoardshaveworkedincollaborationtoformulatearesponsibleandbalanced operatingandcapitalprogramforfiscalyear2018.TheRTAandtheregion’stransitprovidersremaincommitted tosafelyandeffectivelyservingthetransitridersandtaxpayersofnortheasternIllinois.ThesixͲcountyRTAregion istheeconomicengineofthestate’seconomyandtheunofficialcommerceandbusinesscapitaloftheMidwest. Werecognizethatinordertocompeteinamodernday,globaleconomywemusthaveasafe,reliableandefficient transitnetworkthatservestheneedsofthemorethan8.3millionpeoplethatcallthisregionhome.Weknow thatpeoplerelyonoursystemonadailybasistogettowork,schoolandmedicalappointments.Thetransit system also provides affordable mobility for individuals with disabilities and those individuals who cannot or choosenottodrive.Throughinnovationandefficiency,maintainingthisreliablenetworkisatoppriorityforthe RTA,CTA,MetraandPace. WhiletheRTAandServiceBoardsoperateacosteffectivetransitnetwork,thesystemcontinuestofacemany challenges.Forthefirsttimesincetherecessionof2008Ͳ2009,theregionaltransitsystemfacedanoperating fundingdecrease.Atthesametimethat2017salestaxgrowthbegantoslow,theIllinoislegislatureapproveda significantreductioninfinancialsupportfortransitincludinganew,permanent2%surchargeonRTAsalestax collectionsandatemporary10%cutinStatesalestaxmatchingfunds.Thesignificantreductionofstateoperating fundingisinadditiontotheabsenceofanynewstatecapitalfundingforthe2018Ͳ2022CapitalProgram.In2018, thetotalestimatedfundingforthecapitalprogramis$1.156billion,wellshortofthe$2billionto$3billionof annualinvestmentneeded.Over55%ofthe2018capitalprogramisfromfederalfunding,withtheremaining fundsgeneratedthroughCTAandPacebondissuances. Inordertomaintaindesiredservicelevels,CTA,Metra,andPacehadtomakesomedifficultdecisionsonfare increasestobalancetheiroperatingbudgets,asrequiredbylaw.CTAhasidentifiedafareincreaseandadditional revenuestobringitsproposedoperatingbudgetintobalance.Metrahasproposedageneralfareincreaseforthe fourthconsecutiveyear,andplanstoimplementmodestreductionsinweekdayserviceontheNorthCentral, SouthWest,andRockIslandlines,aswellassomereductionsinweekendserviceontheMilwaukeeDistrictNorth Line.PaceSuburbanServicehasproposedafareincreaseforoneͲwayticketsandtransfers,andwillexpand serviceonitspopularIͲ55BusͲonͲShoulderroutes.A25centfareincrease,thefirstsince2009,isalsoproposed forPaceADAParatransitrides,althoughTaxiAccessProgram(TAP)fareswillremainunchanged. Despiteoursystem’schallenges,theServiceBoardscontinuetodeliverinnovativeprojectsthatwilldramatically improvethetransitlandscapeforourregion’sresidents.MajorcapitalinitiativesinthefiveͲyearprograminclude thecontinuationofCTA’stransformativeRedͲPurpleModernization(RPM)project,thepurchaseofnewMetra railcarsandlocomotivesaswellasthetargetedrehabilitationofMetra’sexistingfleet,andthepurchaseofnew PacevehiclesandconstructionofanewNorthwestCookPacebusgarage.Additionally,Pacewillstartoperating theMilwaukeeAvenuePulsearterialrapidtransit(ART)servicein2018,thefirstofitskindinourregion. TheRTAcontinuestoworkwithstateandregionalstakeholderstoraiseawarenessofourinfrastructureneeds andadvocateforanew,sustainablesourceofstatecapitalfunding.Infact,“InvestinTransit”isthetitleofour 2018Ͳ2023RegionalTransitStrategicPlan,availableonlineattheRTA’swebsitewww.RTAChicago.org,andopen forpubliccommentthroughDecember31st.ThePlanmakesthecaseforcontinuedinvestmentintheregional transitsystemwhichissoveryimportanttotheeconomicvitalityofNortheasternIllinois. Sincerely, LeanneP.Redden,ExecutiveDirector RTAChicago.org iii RTA 2018 OPERATING BUDGET, TWOͳYEAR FINANCIAL PLAN AND FIVEͳYEAR CAPITAL PROGRAM Table of Contents 1 ExecuƟ ve Summary 6 Pace ADA Paratransit Service IntroducƟ on..................................................................... 3 OperaƟ ng Plan Overview.......................................................................... 3 Overview.......................................................................... 85 Service CharacterisƟ cs..................................................... 5 Service CharacterisƟ cs..................................................... 85 Environmental Outlook.................................................... 5 Budget and Financial Plan............................................... 87 Strategic Plan and Goals................................................... 6 Statutory Compliance...................................................... 91 Key Budget Issues............................................................ 7 Fare Structure................................................................... 92 Budget and Financial Plan............................................... 8 Five-Year Capital Program................................................ 15 Sources and Uses of Funds............................................... 15 7 Performance Measures Goals and Performance Measures................................... 95 2 RTA OperaƟ ng Plan Goals and ObjecƟ ves........................................................ 95 Regional and Sub-Regional Performance RTA OperaƟ ng Plan Measures.......................................................................... 95 Overview........................................................................... 19 RTA Performance Measures............................................. 100 Budget and Financial Plan............................................... 19 Fund AccounƟ ng.............................................................. 27 Basis of BudgeƟ ng............................................................ 30 8 Capital Program Agency OperaƟ ng Plan Regional Overview........................................................... 107 Budget and Financial Plan................................................ 33 Source of Funds............................................................... 107 OrganizaƟ onal Structure.................................................. 36 Use of Funds.................................................................... 109 CTA Overview................................................................... 110 Metra Overview............................................................... 111 3 CTA OperaƟ ng Plan Pace Overview.................................................................. 112 RTA Overview................................................................... 113 Overview.......................................................................... 47 Ten-Year Capital Plan....................................................... 113 Service CharacterisƟ cs..................................................... 47 Impact of 2018 Capital Expenditures.............................. 114 Budget and Financial Plan................................................ 49 RTA Bonds........................................................................ 115 Statutory Compliance....................................................... 53 Fare Structure.................................................................. 54 OrganizaƟ onal Structure.................................................. 54 9 Appendices NaƟ onal Economic ProjecƟ ons........................................ 123 4 Metra OperaƟ ng Plan RTA Region....................................................................... 123 Governance...................................................................... 128 Overview......................................................................... 59 Financial Policies.............................................................. 130 Service CharacterisƟ cs.................................................... 59 Budget Process................................................................. 132 Budget and Financial Plan............................................... 61 Public Hearing Schedule.................................................. 136 Statutory Compliance...................................................... 66 RTA Ordinance No. 2017-61............................................. 137 Fare Structure................................................................. 66 Glossary............................................................................ 167 OrganizaƟ onal Structure................................................. 66 The GFOA Award.............................................................
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