Appendix D. Financial Plan

Transcription

1 Appendix D Financial Plan

2 Financial Constraint for the Regional Transportation Improvement Program Funds programmed in the Puget Sound Regional Council s (PSRC) Regional Transportation Improvement Program (TIP) must be secured or reasonably be expected to be available within the time period for the project or project phase in the TIP. The following provides explanations for secured and reasonably expected funding, as well as describes the conditions that must be met and examples for each. Secured Funds Funds which are secure are those that are currently available and included in an approved budget, appropriation, or similar approved action. For funds to be considered secure, documentation must demonstrate that the approved action dedicates a sufficient level of funding, identifies the proper source(s), and is consistent with the funding schedule for the project or program. Examples of Secured Funds Funds included in an adopted budget of a local municipality, state or federal agency, or organization. Funds awarded by agencies or organizations with project selection authority. Funding identified in the constrained portion of a local transportation improvement program (TIP), capital improvement program (CIP), or transit agency s development plan. Examples of Documentation Copy of an adopted budget identifying sufficient funding and proper source(s) that are consistent with the funding schedule for the project or program. Copy of a letter or a memorandum from awarding agency demonstrating funding selection and approval for the project or program. Copy of the appropriate document identifying sufficient funding and proper source(s) consistent with the funding schedule for the project or program, along with a demonstration of an approved budget covering the constrained portion of the document. Reasonably Expected Funds Funds which are reasonably expected generally fall into the following two categories: 1) funds currently available but that require action by a responsible official or policy body to approve them for a project or program, and 2) funds not yet available but have historically been available and a commitment is in place to dedicate the funds for a project or program once they become available. For funds to be considered reasonably expected, the current funding available or historically used funding must be documented. The documentation must also be accompanied by an explanation of procedural steps with milestone dates which will be taken to secure the funds for the project or program. New funding sources and innovative funding may also be considered reasonably expected if identified in sufficient detail and with a reasonable expectation/demonstration of public support. Examples of Reasonably Expected Funds Funds included in the budget of a local municipality, state or federal agency, or organization but not yet approved for a specific project or program. Funds beyond a current approved budget, but consistent with historic levels of the funding source. Funds identified in a budget or appropriation not yet approved. Funding identified in the unconstrained portion of a local transportation improvement program (TIP), capital improvement program (CIP), or transit agency s development plan. Funding identified for a project or program from a cosponsor(s). Examples of Documentation Copy of an adopted budget identifying the available funds at a sufficient level for the project or program and documentation of steps with milestone dates which will be taken for the necessary approval. Copy of a document identifying the historical level of the funding source sufficient for the project or program and documentation of the steps with milestone dates that will be taken to secure the necessary funds. Copy of draft budget identifying sufficient funding and proper source(s) consistent with the funding schedule for the project or program. Copy of the applicable document identifying the project or program and documentation of the steps with milestone dates which will be taken to secure the necessary funds. Copy of a funding commitment letter or a memorandum of understanding for the funding which details the amount and source of funds.

3 Figure Regional TIP Financial Summary PSRC- Managed Federal Funds All Other Federal Funds Funding Source Total STP(UL) $54,227,960 $45,202,351 $41,447,652 $0 $140,877,963 STP(US) $15,529,379 $4,075,833 $3,139,000 $0 $22,744,212 STP(R) $7,247,084 $458,250 $3,611,425 $0 $11,316,759 CMAQ $33,174,747 $26,470,821 $26,826,923 $0 $86,472,491 TAP(UL) $3,557,980 $4,075,420 $0 $0 $7,633,400 TAP(US) $1,617,550 $0 $0 $0 $1,617, $125,790,476 $103,309,102 $88,860,842 $28,339,612 $346,300, (FG) $1,092,998 $0 $0 $0 $1,092, HIFG $45,894,477 $39,544,362 $39,244,358 $0 $124,683, HIMB $14,753,781 $13,691,544 $11,383,874 $4,136,443 $43,965, $5,723,716 $6,378,795 $5,265,275 $3,109,874 $20,477,660 Subtotal: $308,610,148 $243,206,478 $219,779,349 $35,585,929 $807,181, (Bus) $6,429,552 $3,495,230 $0 $0 $9,924, (NS) $2,815 $0 $0 $0 $2, $736,008 $0 $0 $0 $736,008 BIA $137,000 $0 $0 $0 $137,000 BR $54,275,023 $4,808,275 $0 $0 $59,083,298 CDBG $225,500 $0 $0 $0 $225,500 DEMO $1,081,411 $0 $0 $0 $1,081,411 FBP $3,800,336 $0 $356,894 $0 $4,157,230 FHLP $8,396,955 $0 $0 $0 $8,396,955 FHWA Bridge $1,050,000 $0 $0 $0 $1,050,000 FHWA Discretionary $12,003,258 $0 $0 $0 $12,003,258 FHWA FBD $1,760,200 $0 $0 $0 $1,760,200 FMSIB $3,250,000 $0 $0 $0 $3,250,000 FTA Discretionary $125,847 $0 $0 $0 $125,847 HSIP $22,099,235 $1,015,422 $0 $0 $23,114,657 HSIP(SRTS) $1,108,131 $0 $0 $0 $1,108,131 IM $178,867 $0 $0 $0 $178,867 JARC $173,726 $0 $0 $0 $173,726 NHPP $202,068,082 $145,292,620 $47,175,671 $141,183,646 $535,720,019 NHS $402,622 $0 $0 $0 $402,622 PFG $591,877 $4,700,000 $0 $0 $5,291,877 SRTS $2,365,110 $0 $0 $0 $2,365,110 STP(BR) $3,056,721 $1,910,042 $0 $0 $4,966,763 STP(E) $322,408 $0 $0 $0 $322,408 STP(L) $690,702 $0 $0 $0 $690,702 STP(S) $7,381,144 $0 $0 $0 $7,381,144 STP(W) $23,760,612 $39,679,000 $9,570 $1,817,195 $65,266,377 Subtotal: $357,473,142 $200,900,589 $47,542,135 $143,000,841 $748,916,707 Total Federal Funds $666,083,290 $444,107,067 $267,321,484 $178,586,770 $1,556,098,611 State and Local $1,650,268,928 $1,126,361,840 $705,146,520 $538,761,370 $4,020,538,658 TOTAL FUNDS $2,316,352,218 $1,570,468,907 $972,468,004 $717,348,140 $5,576,637,269

4 Figure 2 PSRC-Managed Federal Funds Funding Source STP CMAQ TAP FTA Section 5307 (Urbanized) FTA Section 5309 (Fixed Guideway) Financial Feasibility: Expenditures vs. Revenues The funding information represented in these tables has been found to satisfy PSRC s financial constraint requirements, which consist of funding found to be secured or reasonably expected to be available. The latter includes estimates of future PSRC-managed federal funds not yet appropriated but awarded through PSRC's competitive project selection processes, per coordination between PSRC and our federal and state partner agencies. Information found in the "Funds to Projects" column represents project information submitted for the Regional TIP and have been balanced by calendar year, with a correlation to each federal fiscal year as appropriate. The rows labeled "Carry forward funds" represent those funds that were expected to be utilized in 2014 but are being moved forward into Information found in the "Estimated Revenues" column within the PSRC-Managed Federal Funds section represents estimates of FFY funds, as well as the amount of carry forward funds from prior fiscal years High Intensity Fixed Guideway 5337 High Intensity Motor Bus Carry forward funds 2015 $15.0 $ $62.0 $ $49.7 $ $48.2 $49.7 $174.9 $176.5 Carry forward funds 2015 $0.0 $ $33.2 $ $26.5 $ $26.8 $26.7 $86.5 $86.7 Carry forward funds 2015 $0.0 $ $5.2 $ $4.1 $ $0.0 $4.2 $9.3 $13.7 Carry forward funds 2015 $30.8 $ $95.0 $ $103.3 $ $88.9 $ $28.3 $0.0 $346.3 $335.7 Carry forward funds 2015 $1.1 $ $0.0 $ $0.0 $ $0.0 $0.0 $1.1 $1.1 Carry forward funds 2015 $6.2 $ $39.7 $ $39.5 $ $39.2 $40.1 $124.7 $126.5 Carry forward funds 2015 $3.4 $ $11.4 $ $13.7 $ $11.4 $ $4.1 $0.0 $44.0 $42.0 Carry forward funds 2015 $0.0 $ $5.7 $ $6.4 $ $5.3 $ $3.1 $0.0 $20.5 $24.7 Total of PSRC-Managed Funds: $807.2 $806.9 Year Funds to Projects Estimated Revenues Other Federally Managed Funds Funding Source (See Figure 1 for categories) Federal Categories Year Funds to Projects Estimated Revenues 2015 $357.5 $ $200.9 $ $47.5 $ $143.0 $143.0 $748.9 $748.9 Total of Other Federally Funds: $748.9 $748.9

5 State and Local Funds Funding Source Years Funds to Projects Estimated Revenues Non-Federal Categories State and Local Funds Total of State and Local Funds: $4,020.5 $4,020.5 $4,020.5 $4,020.5 $4,020.5 $4,020.5 Financial Feasibility of the Regional TIP: $5,576.6 $5,576.3

6 FIGURE 3: REGIONAL TIP FINANCIAL BALANCING BY YEAR (numbers are in millions, rounded) C: FFY Total Available (sum of A+B) D: FFY Fourth Quarter Prior Calendar Year Availability E: Total Available by Calendar Year (sum of C+D) F: Final Amount Programmed in TIP by calendar year STP A: Carry-Forward B: FFY Estimate / Allocation FFY 2015 $15.0 $49.7 $64.7 $12.4 $77.1 $77.1 FFY $12.4 $49.7 $37.3 $12.4 $49.7 $49.7 FFY $12.4 $49.7 $37.3 $12.4 $49.7 $48.2 FFY 2018 n/a n/a n/a n/a n/a n/a Totals $139.3 $37.3 $176.5 $175.0 C: FFY Total Available (sum of A+B) D: FFY Fourth Quarter Prior Calendar Year Availability E: Total Available by Calendar Year (sum of C+D) F: Final Amount Programmed in TIP by calendar year CMAQ A: Carry-Forward B: FFY Estimate / Allocation FFY 2015 $0.0 $26.5 $26.5 $6.6 $33.1 $33.2 FFY $6.6 $26.5 $19.9 $6.6 $26.5 $26.5 FFY $6.6 $26.5 $19.9 $6.6 $26.5 $26.8 FFY 2018 n/a n/a n/a n/a n/a n/a Totals $66.3 $19.9 $86.1 $86.5 C: FFY Total Available (sum of A+B) D: FFY Fourth Quarter Prior Calendar Year Availability E: Total Available by Calendar Year (sum of C+D) F: Final Amount Programmed in TIP by calendar year TAP A: Carry-Forward B: FFY Estimate / Allocation FFY 2015 $0.0 $4.2 $4.2 $1.1 $5.3 $5.2 FFY $1.1 $4.2 $3.1 $1.1 $4.2 $4.1 FFY $1.1 $4.2 $3.2 $1.1 $4.2 $0.0 FFY 2018 n/a n/a n/a n/a n/a n/a Totals $10.5 $3.2 $13.7 $9.3 Note 1: Carry forward amounts for FFY 2015 were calculated based on the funds carried forward from the Regional TIP into the new Regional TIP, and from that amount how much is attributed to FFY 2014 or earlier funding. Carry forward amounts for subsequent years was calculated based on the amount available for that fiscalyear compared to programming. Final calendar year programming takes into account the fourth quarter of the next fiscal year. Note 2: Estimates of fiscal year funding are based on the approved estimates used as part of project selection. Note 3: Since the federal fiscal year begins with the last quarter of the prior calendar year, proportionate amounts of the fiscal year allocations are presumed for this quarter Note 4: FFY 2018 funds have not yet been programmed.