DOCSLIB.ORG

2020 Budget Recommendations CTA FY20 Budget Chicago Transit Board and CTA President

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2020 Budget Recommendations CTA FY20 Budget Chicago Transit Board and CTA President CREATING OPPORTUNITIES: Investing in Transit President’s 2020 Budget Recommendations CTA FY20 Budget Chicago Transit Board and CTA President Chicago Transit Board Terry Peterson, Chairman Appointed by: Mayor, City of Chicago Arabel Alva Rosales, Vice Chairman Appointed by: Governor, State of Illinois Judge Gloria Chevere Appointed by: Governor, State of Illinois Kevin Irvine Appointed by: Mayor, City of Chicago Rev. Dr. L. Bernard Jakes Appointed by: Governor, State of Illinois Rev. Johnny L. Miller Appointed by: Mayor, City of Chicago Alejandro Silva Appointed by: Mayor, City of Chicago Chicago Transit Authority Dorval R. Carter Jr., President CTA FY20 Budget Table of Contents Letter from the President ................................................................................................. 1 CTA Organizational Chart ................................................................................................. 5 Executive Summary ........................................................................................................... 7 Strategic Goals .................................................................................................................... 23 2014‐2022 Operating Budget Schedule ......................................................................... 25 2019 Operating Budget Performance ............................................................................ 29 President’s 2020 Proposed Operating Budget ............................................................. 37 President’s 2021‐2022 Proposed Operating Financial Plan ...................................... 49 2020 Operating Funding Summary ................................................................................ 53 2020‐2024 Capital Improvement Program Introduction .................................................................................................................. 61 Funding Sources ........................................................................................................... 62 Uses of Funds ................................................................................................................ 68 Capital Program Asset Category Comparison ............................................................ 84 Competitive Grant Opportunities ................................................................................ 86 Capital Funding Need – State of Good Repair (SOGR) ............................................... 92 Operating Budget Impact ............................................................................................. 98 Performance Management and Statistics Performance Management ........................................................................................... 99 Comparative Performance Analysis............................................................................. 119 Operating Statistics ...................................................................................................... 127 Appendices History of the Agency ................................................................................................... 131 System Map .................................................................................................................. 135 Transit Facts ................................................................................................................. 137 CTA Fare Structure ....................................................................................................... 139 Comparative Fare Structure ........................................................................................ 141 Debt Administration ..................................................................................................... 143 Economic Indicators ..................................................................................................... 165 Annual Budget Process ................................................................................................ 171 Accounting Systems and Financial Controls ............................................................... 175 Financial Policy ............................................................................................................. 181 Sustainability Initiatives .............................................................................................. 185 Acronyms and Glossary ................................................................................................ 191 (THIS PAGE INTENTIONALLY LEFT BLANK) CTA FY20 Budget Letter from the President Dear CTA Customers, Each weekday, nearly 1.5 million people step aboard a Chicago Transit Authority bus or train, headed to work, to school, to shop, to worship, to visit family, friends and loved ones. We have been helping people reach their destinations every day since 1947. It’s a commitment we have always taken very seriously—a trust we work to earn every single day. But CTA’s importance to Chicago and its closest suburbs goes far beyond from getting from Point A to Point B. We help fuel the economic engine of Chicago and the region, by providing access to jobs and opportunities, making improvements to boost communities and spurring private investment. Corporations that relocate to Chicago often cite the city’s public transportation network as a driving factor, and neighborhoods across the city rely on transit. CTA also provides thousands of good-paying jobs to hardworking men and women from the region. And over the last several years, CTA has undertaken an unprecedented modernization effort that’s provided opportunities for small and disadvantaged businesses to compete for contracts to provide goods and services. Simply put, the CTA is intricately woven into the fabric of the city. And just as importantly, transit must be available for everyone. That’s why keeping transit affordable, reliable and equitable is so important. And it’s why I am pleased to announce that the 2020 proposed budget contains no changes to fares, while maintaining service levels. Also for 2020, I am pleased to propose a balanced operating budget of $1.57 billion. I am also proposing a five-year, $5.1 billion Capital Improvement Plan (CIP) for 2020-2024. Holding the line on fares and service is no small undertaking, nor an easy one—especially given the unprecedented challenges that public transit is facing. New marketplace competition—primarily in the form of ride-hailing services—has given the public more transportation options than ever before. And historically low gas prices have disincentivized the use of transit. In the face of these market forces, we are constantly working toward how best to implement new technologies, form new partnerships and strengthen our existing systems to better serve our customers. One of the most important aspects to remaining competitive is to modernize our infrastructure—the vehicles, stations, tracks and structures that keep us moving. With programs like Safe and Secure and FastTracks, CTA has made an unprecedented investment over the last several years: rebuilding stations, fixing tracks and upgrading signals, among other improvements. 1 CTA FY20 Budget Letter from the President Thanks to the new State of Illinois capital bill approved earlier this year, the CTA will be able to continue this important modernization. The capital bill—the state’s first in a decade—will provide the CTA with $1.2 billion of State bond funding over the next five years. The bond funding includes $140.5 million in earmarks for three CTA projects, including $60 million to overhaul the Cottage Grove Green Line Station, $50 million for traction power improvements for the Blue Line O’Hare Branch and $31.5 million for Blue Line O’Hare branch station upgrades at various stations between the Dearborn subway in downtown Chicago and the O’Hare station. Capital bill funding will also provide an unprecedented level of investment in CTA projects, like the Red Line Extension, and will allow CTA to tackle the first projects of the All Stations Accessibility Program (ASAP), CTA’s first-ever comprehensive plan, which I announced in 2018, to make all our rail stations 100 percent vertically accessible by 2030. The capital bill also includes a new, recurring $700 million funding stream to CTA over the next five years that is the first of its kind in Illinois history. This funding apparatus is made possible through new taxes dedicated to transit and are based on the increase in the state gas tax—from 19 cents per gallon to 38 cents per gallon—and vehicle registration fees, which are indexed to inflation and continue into perpetuity. Though the state capital bill will help CTA begin to address the modernization of our infrastructure, the CTA still faces significant challenges related to funding for our day-to- day operations. Since 2015, CTA’s operating budgets have been cut by more than $145 million due to State of Illinois funding reductions. That’s the approximate equivalent of operating the Red or Blue Line service for an entire year. Those cuts continue in 2020 and are projected to cost the CTA and additional $30 million. This continued tightening of our funding makes it even more challenging for the CTA to provide the level of service we envision for our customers. However, despite these financial realities, we are committed to continuing to find ways to better serve our customers. We were proud to break ground in early October on the largest construction project in CTA history, the Phase One of the Red Purple Modernization
Load more

Recommended publications
  • Chiflu – Corflu 33
    Progress Report 1 DECEMBER 2015 Chif lu – Corflu 33 Chicago 2016 – May 13-15 Progress Report 2 April 2016 (RIP Art. A trufan and a true friend to us all.) Home Stretch Well here we are one month out from Corflu 2016. This is the "now it gets real" moment for any convention. The list of to-dos gets longer every day, especially as things previously neglected suddenly rear their head ("Can I park your car for $60 a day sir?" and "I'm sorry do your attendees expect chairs in the conference room?"). The last one being a real question asked many years ago as we setup a con venue. It has been a while since I last organized a con, and those are two perfect reasons why that has remained true! But, the end is nigh, and we will have a "great time" - to paraphrase a wannabe contemporary politician, we will also have "the best time." Thank you President, er.. I mean King Trump for those inspiring words to live and plan cons by. This progress report sets the tone for what to expect at "the Chiflu". Conveniently hosted in downtown Chicago, there's a wealth of things to distract you from the actual con, and I implore you to take full advantage of the opportunity to enjoy our fine city. Except of course when there's programming happening. It is hard to walk around Chicago and not be inspired by the amazing architecture, public art, friendly locals, and sheer exuberance of it all. Also, spring has gotten off to a "great" start, and we are fully expecting "great" things in mid-May.
    [Show full text]
  • Bangkok Expressway and Metro Public Company Limited (BEM) FEBRUARY 2021 Business Overview
    Bangkok Expressway and Metro Public Company Limited (BEM) FEBRUARY 2021 Business Overview COMMERCIAL ROAD INVESTMENT RAIL DEVELOPMENT Total Expressway Total Rail BL = IBL + BL Ex Infrastructure portfolio SES 38.50 km BL 48 km 38 stations For advertising in Stations & • Owns 99.99% in NECL Sector C+ 32.00 km PPL 23 km 16 stations Trains, Retailing and • Owns 90.52% in BMN SOE 17.06 km Total 71 km 54 stations Telecommunications • Owns 18.47% in TTW Total 87.56 km • Owns 16.64% in CKP BL Ridership PPL to be negotiated with MRTA Traffic Volume Jan 2021 Profit sharing in P&L Jan 2021 151,237 trips/day Expressway Ads on SES Y2019 173 MB 799,583 trips/day Growth -61.95% YoY 9M/2020 - MB Growth -34.30% YoY Avg. 2021 CD Revenue Avg. 2021 151,237 trips/day Y2019 783 MB Cash Dividend Received 799,583 trips/day Growth -61.95% YoY 9M/2020 586 MB Y2019 489 MB Growth -34.30% YoY Growth 4.30% YoY 9M/2020 483 MB BL farebox Tolls Revenue Jan 2021 Jan 2021 4.24 MB/day 17.33 MB/day Growth -60.05% YoY Growth -37.67% YoY Avg. 2021 Avg. 2021 4.24 MB/day 17.33 MB/day Growth -60.05% YoY Growth -37.67% YoY PPL O&M service income Annual Income apx.1,800 - 2,000 MB/year 2 Financial Highlights & Earnings Outlook REVENUE STRUCTURE TOTAL REVENUE As of 9M/2020 Unit: MB SteadyRevenue with Growth 20,404 trong Earnings with Good Dividend 19,087 S Rail : 34% 15,393 13,232 Stable Cash Flow Road : 60% 10,589 Road Gearing for new investment Rail Commercial CD Development : Other 6% 2016 2017 2018 2019 9M/2020 NET PROFIT DPS / EPS NET IBD/E Unit: MB Unit: THB Unit : Times 5,317* 5,435** 1.44 3,123 0.35* 0.36** 1.38 2,606 1.37 1.34 1,482 0.20 1.33 0.17 0.15 0.15 0.11 0.13 0.10 DPS EPS 2016 2017 2018 2019 9M/2020 2016 2017 2018 2019 9M/2020 2016 2017 2018 2019 9M/2020 Remark : * Including non - cash extra item from reclassified the investment in CKP ** Including non - cash extra item from reclassified the investment in TTW 3 Expressway Map Expressway Network Distance (km) Operator 1.
    [Show full text]
  • 3 Assessment of Urban Transport Systems in Bangkok
    Assessment Urban Transport System: Bangkok, Thailand Siradol Siridhara Mahidol University BLAK Bangkok Metro and Vicinity Population 16.43 million Bkk Population 5.56 million Employment 10.42 million Income 39,459 baht/hh Bangkok Metro and Vicinity 35 million trips per day. ≈ 70% by private vehicles. Average Speeds Morning peak hour 10.7 kph Evening peak hour 14.2 kph Key Players Regulators, Project Owners & Operators Rail Bus Regulators Project Owners Project Operators 3 Current Rail Network Current Network: 5 Lines, 97 Stations, 142.9 km Light Green Line 32 stations 39.5 km Dark Green Line 13 stations 14.7 km Blue Line 26 stations 47.0 km Purple Line 16 stations 23.6 km Airport Rail Link 8 Stations 28.6 km Total 153.4 km Green Blue Purple Red Ridership (approx.) 1500000 trips/day4 Future Rail Network Future Network: Approx. 540 km Light Green Line 55 stations 66.5 km Dark Green Line 20 stations 22.5 km Blue Line 42 stations 55.0 km Purple Line 32 stations 42.8 km Orange Line 30 stations 35.4 km Pink Line 30 stations 36.0 km Yellow Line 23 stations 30.4 km Brown Line 23 stations 21.0 km Gold Line 4 stations 2.7 km Grey 39 stations 26.0 km Light Blue Line 19 stations 30.0 km Light Red Line 55 stations 58.5 km Dark Red Line 20 stations 80.8 km Airport Rail Link 14 Stations 49.5 km Total 504 km 5 Assessment Urban Transport System: Bangkok SUTI01 Extent to Which Transport Plans Cover Public Transport, Intermodal Facilities and Infrastructure for Active Modes MIN SCORE MAX 0 11 16 No Aspects Explanation Score 1 Walking Networks Little attention has been paid to pedestrian network planning, although the awareness of maintenance of walkways and other pedestrian facilities have 2 been raised from the general public.
    [Show full text]
  • SUPPLEMENTARY INFORMATION Doi:10.1038/Nature11520
    SUPPLEMENTARY INFORMATION doi:10.1038/nature11520 Other intraplate earthquakes in the India-Australia plate off Sumatra and Coulomb stress changes for a selection of possible intraplate faults. Extensional events at the trench wall are located in positive Coulomb stress change areas for receiver faults striking parallel to the trench both off Nicobar Islands (~N180°E) and off Nias (~N135°E) (see Figure A1). Any Aceh or Nias slip distribution that has weak surface displacement does not predict a positive Coulomb stress change in these areas close to the trench toe. These normal faults are active as a result of extensional bending stresses at the trench wall46,47 that are unrelated to the NW-SE compression in the Wharton Basin. The strike of the nodal planes shown on Figure A1 is following the trench line orientation. These normal faults are neo-formed faults since the normal fault fabric (N105°E to N110°E) is not perpendicular enough to the trench-normal bending stresses to be reactivated (with the exception of the two southernmost events in 2005, in the Wharton fossil spreading ridge area). Slip on neo-formed reverse faults perpendicular to the NW-SE intraplate P-axis is not favoured by the Aceh and Nias earthquakes (Figure A1), which is in agreement with the historical style of deformation in the Wharton Basin. A minority of thrust faults mechanisms is recorded, while most of the events are strike-slip. Figure A2 shows increased Coulomb stress change on N110°E oriented vertical planes (right- lateral slip) when compared to N15°E oriented vertical planes (left-lateral slip, Fig.
    [Show full text]
  • June 2019 Project Management Oversight Report
    REPORT ON PROJECT MANAGEMENT OVERSIGHT – JUNE 2019 Executive Summary This semi‐annual Report on Project Management Oversight details Service Board efforts in implementing their capital programs. Included are details on all state‐funded projects, regardless of budget, and all systemwide projects with budgets of $10 million or more, regardless of funding source. Information in this report was collected by direct interviews, project meetings, and documented submissions from Service Board project management teams. The RTA’s 2018‐2023 Regional Transit Strategic Plan, “Invest in Transit,” highlights $30 billion of projects that are needed to maintain and modernize the region’s transit network. To maintain and preserve the current system in a State of Good Repair (SGR), as well as address the backlog of deferred SGR projects, requires a capital investment of $2 to $3 billion per year. After nearly a decade without a State of Illinois capital program, transit in the RTA region will get a much‐needed infusion from the Rebuild Illinois bill passed on June 1, 2019 by the General Assembly. The RTA is looking forward to the implementation of this new state capital plan however there is a concern that the proposed funding for transit does not meet the current needs as identified in “Invest in Transit.” The 55 projects detailed in this report together represent $5,712,260,030 worth of construction, maintenance, and procurement. Many of these projects address outstanding capital needs, while others are directed toward compliance with federal requirements or enhancing customer experience, safety, and security. All of the state funded projects are within budget.
    [Show full text]
  • Special Assistance for Project Implementation for Bangkok Mass Transit Development Project in Thailand
    MASS RAPID TRANSIT AUTHORITY THAILAND SPECIAL ASSISTANCE FOR PROJECT IMPLEMENTATION FOR BANGKOK MASS TRANSIT DEVELOPMENT PROJECT IN THAILAND FINAL REPORT SEPTEMBER 2010 JAPAN INTERNATIONAL COOPERATION AGENCY ORIENTAL CONSULTANTS, CO., LTD. EID JR 10-159 MASS RAPID TRANSIT AUTHORITY THAILAND SPECIAL ASSISTANCE FOR PROJECT IMPLEMENTATION FOR BANGKOK MASS TRANSIT DEVELOPMENT PROJECT IN THAILAND FINAL REPORT SEPTEMBER 2010 JAPAN INTERNATIONAL COOPERATION AGENCY ORIENTAL CONSULTANTS, CO., LTD. Special Assistance for Project Implementation for Mass Transit Development in Bangkok Final Report TABLE OF CONTENTS Page CHAPTER 1 INTRODUCTION ..................................................................................... 1-1 1.1 Background of the Study ..................................................................................... 1-1 1.2 Objective of the Study ......................................................................................... 1-2 1.3 Scope of the Study............................................................................................... 1-2 1.4 Counterpart Agency............................................................................................. 1-3 CHAPTER 2 EXISTING CIRCUMSTANCES AND FUTURE PROSPECTS OF MASS TRANSIT DEVELOPMENT IN BANGKOK .............................. 2-1 2.1 Legal Framework and Government Policy.......................................................... 2-1 2.1.1 Relevant Agencies....................................................................................... 2-1 2.1.2
    [Show full text]
  • June 2018 Project Management Oversight Report
    June 2018 Project Management Oversight Prepared by the Department of Finance, Innovation & Technology REPORT ON PROJECT MANAGEMENT OVERSIGHT – JUNE 2018 Executive Summary This semi‐annual Report on Project Management Oversight details Service Board efforts in implementing their capital programs. Included are details on all state‐funded projects, regardless of budget, and all systemwide projects with budgets of $10 million or more, regardless of funding source. Information in this report was collected by direct interviews, project meetings, and documented submissions from Service Board project management teams. The State of Good Repair backlog for the region currently stands at $19.4 billion, and the 10‐ year capital need for normal reinvestment is $18.3 billion, which results in total 10‐year capital need of $37.7 billion. The 60 projects detailed in this report together represent $3,861,547,183 worth of construction, maintenance, and procurement. Many of these projects will address outstanding capital needs, while others are directed to compliance with federal requirements or enhancing customer experience, safety, and security. The majority of state funded projects are within budget, one project is under budget. 80% of the state funded projects are on schedule. Regarding change orders, some of the added budget came from decisions by the Service Boards to add value to projects or comply with federal requirements. Other change orders were mostly for unforeseen conditions, and a minimal amount was due to errors and omissions. There were also change orders that provided credit for value engineering and for unused allowance and deleted work. Although the progress being made on these projects is significant, current capital funding will not support much needed renewal of the region’s aging transit infrastructure.
    [Show full text]
  • Steve Hastalis Committee Members
    1 ADA Advisory Committee Meeting Minutes Monday, April 14, 2014 Members Present Chairperson: Steve Hastalis Committee Members: Garland Armstrong Rhychell Barnes Dorrell Perry Doreen Bogus Mary Anne Cappelleri Bryen Yunashko Grace Kaminkowitz Excused: Maurice Fantus Tim Fischer Laura Miller Facilitator: Amy Serpe, CTA Manager, ADA Compliance Programs Steve Hastalis, Committee Chairman called the meeting to order at 1:30 p.m. Roll Call • Members of the Committee introduced themselves. • Maurice Fantus, Tim Fischer, and Laura Miller had excused absences from the meeting. Announcement • There was an announcement that Yochai Eisenberg has resigned from the Committee. Approval of Minutes from January 13, 2014 Meeting • There were a couple of changes to the January 14, 2014 minutes. Rosemary Gerty pointed out the correct spelling of Anne LeFevre’s name. Ms. Gerty clarified that the RTA Appeals Board for Paratransit certification does not reevaluate, but rather discusses the terms of appeals in order to gain additional information. Ms. Gerty also updated the number of appeals in 2013 to 112. Ms. Kaminkowitz withdrew her motion and moved to accept the minutes as corrected. Mr. Armstrong seconded the motion. Mr. Hastalis asked for a vote to approve the minutes as amended. The Committee unanimously approved the minutes of the Committee’s January 14, 2014 meeting. Rail Car Information • Mr. Robert Kielba, Chief Rail Equipment Engineer, stated that there are about 432, 5,000 Series rail cars in service. There are 14 cars running with the new door opening chime activated primarily on the Red, Yellow, and Purple Lines. • There are 58 cars loaded with the software at a rate of four to six cars completed in a week.
    [Show full text]
  • Investigation on Physical Distancing Measures for COVID-19 Mitigation of Rail Operation in Bangkok, Thailand
    Investigation on Physical Distancing Measures for COVID-19 Mitigation of Rail Operation in Bangkok, Thailand Somsiri Siewwuttanagul1*, Supawadee Kamkliang2 & Wantana Prapaporn3 1,2 The Cluster of Logistics and Rail Engineering, Faculty of Engineering, Mahidol University, Thailand 3 Graduate School of Science and Engineering, Saga University, Japan * Corresponding author e-mail: [email protected] Received 5/5/2020; Revised 2/6/2020; Accepted 23/6/2020 Print-ISSN: 2228-9135, Electronic-ISSN: 2258-9194, doi: 10.14456/built.2020.7 Abstract The COVID-19 pandemic is the global health crisis and was declared a pandemic on 11th April 2020 by the World Health Organization (WHO). The most common solution is physical distancing which refers to avoiding close contact with other people by keeping a physical space between others. The COVID-19 pandemic is challenging mass transit services which are usually crowded with passengers. There is a need for an effort to save lives and stop spreading the virus, but metro transit still needs to provide services to people. Although the metro operators in Bangkok had a quick response to this pandemic by implementing physical distancing measures at stations and in passenger cars, effective levels of these measures are still under question. This study compares the physical distancing data surveyed during the COVID-19 pandemic and close contact transmission by breathing which defined the risk distance. The study investigates passenger levels of infection risk from close contact transmissions by breathing during the time at the metro station, based on the location where activities take place in metro stations: concourse level, platform level, and in the passenger car during the commute.
    [Show full text]
  • Urban Rail in Jakarta and Jabodetabek (With Thanks to Fagra Hanif for Supporting Information)
    Urban Rail in Jakarta and Jabodetabek (with thanks to Fagra Hanif for supporting information) Context Jakarta and the strategic metropolitan area known as Jabodetabek (Jakarta and the neighbouring municipalities of Bogor, Depok, Tangerang and Bekasi) has a population of 28mil (10mil Jakarta proper). This region has urban rail heritage, with the original suburban rail infrastructure dating from the early 20th century, during the Dutch colonial period (BOS -Batavia Ooster Spoorweg). Following independence, other priorities meant that funding for the network was constrained and this fact, combined with rapid urbanisation, growing prosperity and growth in car ownership, diminished the use and value of urban rail provision whilst also bringing congestion to the ‘over-capacity’ road network. In the late 1970s, the problems caused by underinvestment in the network became evident and since then, a combination of policy changes and increased resources have brought upgrading to the existing suburban network (double tracking, electrification, new rolling stock etc.), some false starts (monorail), and, more latterly, construction of modern ‘metro-type’ lines. With expansion and modernisation there has been much improvement to the urban rail setting in Jakarta and this city/region now has a comprehensive and interesting multi-modal rail footprint with further expansion in construction. Full Metro: Jakarta MRT The first full metro in Indonesia, Jakarta MRT, opened in late March 2019. The line runs from Lebak Bulus (shedding facilities) through the southern suburbs on viaduct to the Blok M shopping area before heading underground after ASEAN and proceeding below Jalan Surdirman and the main commercial area to the busiest station Dukuh Atas (transfer to KRL, Airport Line, TransJakarta BRT and the future LRT).
    [Show full text]
  • [Picture of 79Th Street Bus] [Picture of a CTA Employee Wearing
    [BOOK FRONT COVER] Public Transit: An Essential Key to Recovery [Picture of 79th Street Bus] [Picture of a CTA employee wearing a mask] [2 different pictures of CTA employees performing COVID-19 related sanitation on a bus and train] President’s 2021 Budget Recommendations [CTA Logo] [BACK PAGE OF FRONT COVER] Chicago Transit Board and CTA President The governing arm of the CTA is the Chicago Transit Board, consisting of seven board members, one of which is currently vacant. The Mayor of Chicago appoints four board members, subject to the approval of the City Council and the Governor of Illinois. The Governor appoints three board members, subject to the approval of the State Senate and the Mayor of Chicago. CTA's day-to-day operations are directed by the President. Arabel Alva Rosales, Vice Chair Appointed by: Governor, State of Illinois Judge Gloria Chevere, Board Member Appointed by: Governor, State of Illinois Kevin Irvine, Board Member Appointed by: Mayor, City of Chicago Dr. L. Bernard Jakes, Board Member Appointed by: Governor, State of Illinois Rev. Johnny L. Miller, Board Member Appointed by: Mayor, City of Chicago Alejandro Silva, Board Member Appointed by: Mayor, City of Chicago Chicago Transit Authority Dorval Carter Jr., President TABLE OF CONTENTS System Map: page 1 President’s Letter: page 4 Organizational Chart: page 6 Executive Summary: page 8 Strategic Goals: page 26 Operating Budget Schedule: page 28 2020 Operating Budget Forecast: page 32 2021 Proposed Operating Budget: page 36 2022-2023 Two-Year Financial Plan: page
    [Show full text]
  • Of BTS Skytrain, MRT and Airport Rail Link) Now Stands at 109.6Km, up from 84.8Km in the Previous Year
    Annual Report BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF) For Period from 1 April 2016 to 31 March 2017 Table of Contents Part Part 1 The Fund’s Operation 2 Management and Good Governance 1. Fund Information 2 7. Details of Investment Units 31 1.1 Name, Type, Fund Capital and 2 7.1 Investment Units 31 Term of Fund 7.2 Details of Unitholders 33 1.2 Name of Management Company and 2 7.3 Distributions of the Fund 33 Fund Supervisor 8. Management Structure 37 2. Policy, Overall Business and Seeking of 3 8.1 Management Company 37 Benefits 8.2 Infrastructure Asset Manager 49 2.1 Vision, Objective, Goal and 3 8.3 Fund Supervisor 52 Operating Strategies 8.4 Investment Advisory Committee 56 2.2 Significant Changes and Developments 7 8.5 Name, Address and Telephone Number 56 2.3 Relationship with the Business Groups of 8 of Auditor, Fund Registrar and Infrastructure Asset Manager or Asset Appraiser Major Unitholders 8.6 Punishment and Fine Penalty 57 2.4 Assets of the Fund 10 9. Corporate Governance 58 2.5 Seeking of Benefits from 12 9.1 Governance Policy 58 the Infrastructure Assets 9.2 Sub Committee 58 2.6 Borrowing 13 9.3 Protection of the Misuse of 59 3. Business and Industry Overview : 14 Inside Information Mass Transit 9.4 Investment Decision Making and Fund 59 4. Risk Factors 24 Management 5. Legal Dispute 27 9.5 Selection of the Asset Manager 60 6. Other Significant Information 29 9.6 Supervision of the Asset Manager’s 60 Operation 9.7 Supervision of the Fund’s Interest 60 9.8 Remuneration of the Management 62 Company 9.9 Disclosure of Information to 62 the Unitholders 9.10 Meeting of Unitholders 62 Part 3 Financial Position and Performance 9.11 Remuneration of the Auditor 64 13.
    [Show full text]