Heather Copp – CFO and AGM of Finance and Administration

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Presentation transcript:

36 Commuting Solutions Update on the RTD Strategic Budget and Financial Plan Heather Copp – CFO and AGM of Finance and Administration Regional Transportation District October 11, 2016

What is the Strategic Budget and Financial Plan? Strategic Budget Plan(SBP) 6 year plan for the Base System Base System is funded with .6% sales tax Non-FasTracks Financial Plan Currently goes out to 2040 Length of DRCOG RTP Contains both Base and FasTracks funding, projects, maintenance, and operations

Strategic Budget Strategic Budget Plan(SBP) 6 year plan for the Base System (2017-2022) Revenues .6% sales and use Farebox Grants Expenditures Operating Capital Debt Service Reserves

Financial Plan Financial Plan (2017 – 2040) Includes both Base System and FasTracks Revenue .6% for Base .4% for FasTracks Farebox Grants Expenditures Operating Capital Debt Service Reserves

Financial Plan Overview Revenue Changes from 2015 Annual revenues decreased each year through 2025 Total revenues below 2015 forecast until 2034 Total revenues above 2015 forecast from 2035-2040 Debt Service Coverage is Tight Will look for refunding opportunities No additional debt in near term Base System - 2023 FasTracks - 2030

Financial Plan Overview FISA Needed to Cover FasTracks O&M Drawdowns begin in 2021 Balance utilized in 2024 Base Revenues Needed to Cover FasTracks O&M Drawdowns begin in 2024 Final drawdown in 2030 Total drawdown of $130.8M

Financial Plan Overview Fund Balances Accumulate in Later Years Base System balances start in 2030 FasTracks balances start in 2031 Beginning in 2031, unrestricted fund balances in excess of $5 million are transferred to the FISA With the exception of 2038 and 2039, the FISA increases each year between 2031 and 2040 Funds will be used in FasTracks/ FISA to fund remaining 4 corridors

RTD Cash Flow through 2040 as of 2016 APE

Net Revenue Coverage Ratio

Status of Projects FasTracks Completed West Corridor Denver Union Station Free Metro Ride US 36 Bus Rapid Transit University of Colorado A Line B Line - DUS to Westminster

Status of Projects FasTracks In Process G Line - DUS to Ward Road – Fall 2016 I 225 – Winter 2016 North Metro, DUS to 124th – 2018 Southeast Corridor Extension - 2019

Status of Projects FasTracks Still to be Funded Central Business Corridor Extension North Metro from 124th to SH 7 Northwest Rail, Westminster to Longmont Southwest Corridor Extension

Status of Projects SBP (Base System) SH 119 BRT Environmental and Basic Engineering programmed 2016-2018 $3.5 million Construction Placeholder 2022 $60 million 1/2 million assumed grants 1/2 million assumed local

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