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Return to FY 2011 and 2012 budget or SFMTA Board March 30, 2010, agenda

FY 2010/11 – FY 2011/12
CAPITAL BUDGET

Introduction and Framework

03/30/2010 San Francisco, California

Overview

· What is the Capital Budget?

· Previously Adopted Capital Budget

· Recent Capital Program Accomplishments

· Preliminary FY 2011 and FY 2012 Capital Budget

· Next Steps

Capital Budget

· The Capital Budget is a two year document

· Last adopted in June 2008

· Prepared in accordance with Prop A (Sect. 8A.106)

· Demonstrates Agency’s ability to make substantial progress in meeting Prop A performance standards (Sect. 8A.103)

· Establishes capital expenditure limits

· Documents the capital projects that will be prioritized to receive capital funding

Previously Adopted Capital Budget

	FY 2009	FY 2010	Total
Adopted Budget	$762M	$353M	$1,115M
Expenditures*	$88M	$157M	$245M

* FY 2010 projected based on actuals through Jan. 2010

· The adopted budget included total funding of $1.1 billion

· FY 2009 included $353M in carry forward funding

· Budget assumed over $200M in transfers from the Operating budget that did not materialize

· Despite shrinking funding, staff still able to obtain grants totaling $192M in FY 2009 and $226M in FY 2010 (year-to-date)

Financial Crisis Impacts

· State Infrastructure Bonds (Prop 1B) reduced and delayed

· Central Subway full funding grant agreement timeline pushed

· Local sales tax revenues down

· Repackaged large projects to fit within funding constraints

· Operating budget deficits

Major Project Expenditures and Status

Project	FY 09 Budget Revenues	FY 09 Budget Expenditures	FY 09 Actual Expenditures	Project Challenges and Status
Central Subway	$192.2 M	$23.1 M	$13.0 M	FTA Full Funding Agreement and State I-Bond funding delayed. Operating budget crisis impacted staffing and design schedule. Several large contracts pending.
Rail Replacement	$ 20.8 M	$43.2 M	$ 3.1 M	Building funds needed to award contracts. 2 large contracts recently awarded and 1 close to advertising.
Third Street LRT/MME	$ 45.7 M	$56.1 M	$ 8.7 M	Construction contract completed and spent soon after end of FY 09.
LRV Overhaul	$ 25.4 M	$18.7 M	$ 0.1 M	Due to funding shortfall, project needed to be resized, with contract awarded in FY 10.
Islais Creek	$ 51.2 M	$11.7 M	$ 0.8 M	I-bond loss led to project rescoping. Contract advertised and bids received in FY 10.

Signs of a Turnaround

· Refined project scope to match available funding

· Establish revised implementation schedule to account for funding delays

· Reorganized to ensure staffing for critical programs

· FY 2010 estimated expenditures of $157M

· Many projects under contract or soon to be, leading to higher expenditures projected for FY 2011 and FY 2012

Capital Program Accomplishments: State of Good Repair

· Capital Asset Inventory Initiated

· Transit Vehicle Rehabilitation

· Radio Replacement

· Transit Infrastructure Replacement

· Traffic Signal Upgrades

Capital Program Accomplishments: Enhancement/Expansion

· Central Subway: Initiated Final Design & Utility Relocation, Groundbreaking (Feb. 2010)

· Metro East Light Rail Facility: Opened (Sept. 2008)

· SFgo: Phase 1 completed

· SFpark: Pilots initiated

· Bicycle Plan: 9 bike lane projects, bike parking and sharrows citywide

· Citywide Traffic Calming and Pedestrian Projects

Preliminary Budget Highlights

· Propose expenditure limits of $375M in FY 2011 and $377M in FY 2012

· Based on recent annual averages, plus several large, maturing projects:

–       Central Subway

–       Central Control & Communications (C3)

–       Radio Communication System

–       Islais Creek

–       Automatic Fare Collection Program

–       Fleet Procurement

· Funding has been awarded or is committed

Proposed Capital Budget: State of Good Repair

Project/Program	FY 2011	FY 2012	Total
Fleet Procurements & Rehab	92.0 M	39.0 M	131.0 M
C3 (Central Control & Communications)	22.0 M	35.0 M	57.0 M
Islais Creek	31.2 M	20.8 M	52.0 M
Radio Communications System	19.0 M	26.0 M	45.0 M
Transit Infrastructure	20.0 M	20.0 M	40.0 M
Automatic Fare Collection Equipment	16.0 M	12.0 M	28.0 M
SFgo	10.0 M	10.0 M	20.0 M
Transit Facilities	4.5 M	4.5 M	9.0 M
Transit Equipment	1.0 M	1.0 M	2.0 M
Subtotal State of Good Repair	$215.7 M	$168.3 M	$384.0 M

Proposed Capital Budget: Enhancement/Expansion

Project/Program	FY 2011	FY 2012	Total
Fleet Procurements & Rehab	92.0 M	39.0 M	131.0 M
C3 (Central Control & Communications)	22.0 M	35.0 M	57.0 M
Islais Creek	31.2 M	20.8 M	52.0 M
Radio Communications System	19.0 M	26.0 M	45.0 M
Transit Infrastructure	20.0 M	20.0 M	40.0 M
Automatic Fare Collection Equipment	16.0 M	12.0 M	28.0 M
SFgo	10.0 M	10.0 M	20.0 M
Transit Facilities	4.5 M	4.5 M	9.0 M
Transit Equipment	1.0 M	1.0 M	2.0 M
Subtotal State of Good Repair	$215.7 M	$168.3 M	$384.0 M

Next Steps

· April 20: Submit Capital Budget for adoption

· Capital Investment Plan (CIP):

– Coordinated with Central Subway Financial Plan

– Utilize new data management systems

· Quantitative analysis to establish Agency priorities

· Better match funding opportunities to capital projects

– Late Spring: Review Prioritization Approach

– Fall: Present CIP Update

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