2017 Annual Program Evaluation Update 6/25/2018 2017 Annual Program Evaluation Update Financial Administration & Audit Committee July 18, 2017
Presentation Overview FasTracks Program Status FasTracks Program Cost APE Issues Financial Plan Update Next Steps
2016 APE committed program capital cost through 2020 (year of expenditure dollars): $5.6B
FasTracks Program Costs through 2020 (millions of dollars) Project Current Budget Denver Union Station $314.2 Eagle Project $2,286.5 West Corridor $678.2 North Metro $817.0 Northwest Rail $28.0 I-225 $691.1 Southwest Extension $24.0 Southeast Extension* $232.4 Central Extension $11.7 Light Rail Maintenance Facility $17.2 US 36 BRT $190.1 Free MetroRide $12.6 Misc. Projects $297.8 Total Program $5,600.8 * Additional $0.7M to be spent after 2020 on an FTA-required study.
FasTracks Miscellaneous Projects Cost Detail through 2020 (millions of dollars) Total Budget Southeast/Southwest/Central/CPV Corridor Projects $71.5 Programwide Railroad ROW $80.8 Communication Systems Upgrade $5.7 Northeast Area Transit Study $0.2 Light Rail Storage Tracks $12.1 Peoria Interface Coordination $2.0 Additional Light Rail Vehicles $7.8 Programwide Capital Expenditures $116.2 Environmental Mitigation Contingency $1.0 Railroad Compliance Contingency $0.5 Total Miscellaneous Projects $297.8
Changes for 2017 APE Project budget savings Free MetroRide budget reduced to amount approved by Board in June 2017 Programwide capital expenditure reductions Increased programwide expense for project closeout and program extension to 2020
APE Issues North Metro Project Construction schedule Cost to complete construction Future operating and maintenance costs
APE Financial Plan Changes Since June Presentation Costs updated to latest projections FISA balance drawn down to replenish unrestricted fund balance Drawdowns begin in 2020 Full balance drawn by 2022 Capital Acquisition Reserve balance drawn down in 2020
APE Summary Cash Flow – 2017-2023
Considerations to Reduce Shortfall Potential service revisions N Line R Line W Line Internal budget review on all FasTracks projects Financial Administration and Audit Committee 2011-2016 Transit Development Program April 13, 2010
Next Steps August 1 – Board Budget Workshop - APE and Financial Plan August 8 – Presentation of APE update, Financial Plan, and SBP update to FAAC August 22 – Board Study Session September 12 – Presentation of final SBP, APE, and financial plan for recommendation to full Board September 26 – Board adoption of APE, financial plan, and 2018-2023 SBP Financial Administration and Audit Committee 2011-2016 Transit Development Program April 13, 2010