Revenue and Expense Report Fiscal Year Ended June 30, 2012 (FY2012)

Transcription

1 Revenue and Expense Report Fiscal Year Ended June 30, 2012 (FY2012) - Legislative Report Chapter 6, Section 28 - Prepared By: MassDOT Fiscal Office October 31, 2012

2 Table of Contents MASSACHUSETTS TRANSPORTATION TRUST FUND OPERATING REVENUE AND EXPENSE*...3 MASSACHUSETTS TRANSPORTATION TRUST FUND OPERATING EXPENSES BY DIVISION*...4 CAPITAL SOURCES AND EXPENSES*...5 CAPITAL EXPENSES BY PROGRAM*...6 FEDERAL GRANT REVENUE*...7 ADDENDUM MASSACHUSETTS BAY TRANSPORTATION AUTHORITY STATEMENTS OF REVENUE, EXPENSES, AND CHANGES IN NET ASSETS (PAGE 5 OF MBTA FINANCIAL STATEMENT)** ((( SOURCES: *Massachusetts Management, Accounting, and Reporting System **Massachusetts Bay Transportation Authority Audited Financial Statements NOTES: (1) Totals may not add due to rounding.

3 Massachusetts Transportation Trust Fund Operating Revenue and Expenses - FY2012 OPERATING REVENUES: ACTUAL FY 2012 Operating Revenue Toll Revenue - Metropolitan Highway System (MHS) 183,182,715 Toll Revenue - Western Turnpike (WT) 116,706,159 Toll Revenue - Tobin Bridge 33,337,356 MHS & WT Departmental - Permits, Fees 31,112,681 MHS & WT Rental/Lease Income 33,907,175 Non-toll Departmental 8,559,743 Non-toll Rental/Lease Income 3,925,926 Subtotal Operating Revenue 410,731,755 Commonwealth Fund Transfer Commonwealth Transportation Fund Transfer 188,934,869 Contract Assistance Pledged to Metropolitan Highway System 100,000,000 Contract Assistance for Central Artery Operations/Maintenance 25,000,000 Contract Assistance for Regional Transit Authorities 15,000,000 Subtotal Commonwealth Trust Fund Transfer 328,934,869 Investment Income 1,990,578 TOTAL REVENUES 741,657,202 EXPENSES: Operating Expenses (See page 4 for expenses by division) Employee Payroll and Benefits 158,192,382 Materials, Supplies, Services 54,312,486 Office and Administrative Expenses 69,381,649 Construction and Maintenance 9,626,780 Grants, Subsidies, Contract Assistance 61,162,454 Paygo Maintenance 85,182,684 Snow & Ice 38,046,985 Subtotal Operating Expenses 475,905,420 Debt Service MHS and WT Principal, Interest, and Refinancing Cost of Issuance 152,819,506 TOTAL OPERATING EXPENSES AND DEBT SERVICE 628,724,926 NET REVENUE BEFORE TRANSFERS 112,932,276 Transfers In - Transfers Out - NET REVENUE/(EXPENSE) 112,932,276 3

4 Massachusetts Transportation Trust Fund Operating Expenses by Division - FY2012 OPERATING EXPENSES BY DIVISION: Aeronautics Employee Payroll and Benefits Materials, Supplies, Services Office and Administrative Expenses Subtotal Aeronautics Highway Employee Payroll and Benefits Materials, Supplies, Services Office and Administrative Expenses Construction and Maintenance Grants, Subsidies, Contract Assistance Paygo Maintenance Snow & Ice Subtotal Highway Rail and Transit Grants, Subsidies, Contract Assistance Subtotal Rail and Transit Registry Employee Payroll and Benefits Materials, Supplies, Services Office and Administrative Expenses Subtotal Registry Office of the Secretary Employee Payroll and Benefits Materials, Supplies, Services Office and Administrative Expenses Construction and Maintenance Grants, Subsidies, Contract Assistance Paygo Maintenance Snow & Ice Subtotal Office of the Secretary TOTAL OPERATING EXPENSES BY DIVISION ACTUAL FY ,370 9,332 57, ,908 98,741,904 42,369,849 24,384,062 5,374,844 88,379 81,276,726 38,019, ,254,804 59,235,055 59,235,055 41,509,576 9,257,651 29,055,138 79,822,364 17,662,533 2,675,654 15,885,243 4,251,936 1,839,020 3,905,958 27,945 46,248, ,905,420 4

5 Capital Sources and Expenses - FY2012 CAPITAL SOURCES: ACTUAL FY 2012 Restricted Non-Toll Road Sources Special Obligation Debt (Gas Tax, ABP) 298,086,824 General Obligation Debt (GO Debt) 744,281,539 Federal Reimbursement - Highway 530,262,658 Federal Reimbursement Office of the Secretary 19,159,643 Federal Railroad Admin. Reimbursement - Transportation Infrastructure Fund 26,323,749 Defeased Debt (Chapter 27 Non-budgetary) 2,919,620 TOTAL SOURCES 1,621,034,033 CAPITAL EXPENSES (See page 6 for expenses by program) Aeronautics Employee Payroll and Benefits 458,377 Materials, Supplies, Services 108,835 Office and Administrative Expenses 4,149 Construction and Maintenance 283,385 Grants, Subsidies, Contract Assistance 13,423,337 Subtotal Aeronautics 14,282,083 Highway Employee Payroll and Benefits 160,331,706 Materials, Supplies, Services 38,537,828 Office and Administrative Expenses 14,748,249 Construction and Maintenance 1,039,259,740 Grants, Subsidies, Contract Assistance 203,836,221 Subtotal Highway 1,456,713,744 Rail and Transit Materials, Supplies, Services 6,043,966 Office and Administrative Expenses 8,960 Construction and Maintenance 29,529,607 Grants, Subsidies, Contract Assistance 27,828,020 Subtotal Rail and Transit 63,410,553 Office of the Secretary Employee Payroll and Benefits 30,949,675 Materials, Supplies, Services 3,294,780 Office and Administrative Expenses 31,654,935 Construction and Maintenance 8,041,668 Grants, Subsidies, Contract Assistance 12,686,593 Subtotal Office of the Secretary 86,627,652 TOTAL CAPITAL EXPENSES BY DIVISION 1,621,034,033 5

6 Capital Expenses by Program - FY2012 CAPITAL EXPENSES BY PROGRAM: ACTUAL FY 2012 Accelerated Bridge Program 298,086,824 Aeronautics 14,282,603 American Recovery & Reinvestment Act (ARRA) 66,370,945 Chapter ,947,937 Department of Transportation 815,689 Federal Aid Interstate 60,510,639 Federal Aid Non-interstate 544,716,057 Intermodal 1,030,983 Mobility Assistance Program 3,059,937 Public Works Economic Development 12,265,852 Rail and Transit 10,583,660 Regional Transit Authority Capital Assistance 6,285,770 State Implementation Plan 40,767,909 Statewide Road and Bridge 330,985,499 Small Town Road Assistance Program 2,203,983 Transit Oriented Development 2,795,996 Central Artery Project 26,323,749 TOTAL CAPITAL EXPENSES BY PROGRAM 1,621,034,033 6

7 Federal Grant Revenue Report - FY2012 GRANT REVENUES BY FEDERAL AGENCY: ACTUAL FY 2012 Federal Aviation Administration (FAA) Airport Improvement Program 151,631 Subtotal FAA 151,631 Federal Motor Carrier Safety Administration (FMCSA) Enhancing Information 308,288 Safety Data Improvement 65,410 Commercial Driver s License System Information Modernization 23,099 Commercial Vehicle Info Systems 574,972 Performance/Registration Information System 221,172 Subtotal FMCSA 1,192,941 Federal Rail Administration (FRA) ARRA Tiger Grants 8,791,243 ARRA-Knowledge Corridor Restore Vermonter Project 4,775,632 Subtotal FRA 13,566,875 Federal Transit Administration (FTA) Jobs Access/Reverse Commute 1,391,449 Section 16B2 Elderly Handicapped 8,746,626 Section 8 Planning Grant 3,051,266 Section 18 Rural Public Transportation 3,367,493 New Freedom Program 898,018 ARRA-Formula Grants for Other Than Urbanized Areas 160,870 ARRA-Formula Grants for Other Than Urbanized Areas 6,377,440 Subtotal FTA 23,993,162 U.S. Department of Homeland Security (DOHS) Real ID Demonstration Grant 323,177 Subtotal DOHS 323,177 TOTAL GRANT REVENUE 39,227,786 7

8 DRAFT _12 MBTA FS 10/4/12 12:10PM MASSACHUSETTS BAY TRANSPORTATION AUTHORITY (A Component Unit of the Massachusetts Department of Transportation) Statements of Revenue, Expenses, and Changes in Net Assets Years ended June 30, and 20 I I (Dollars in thousands) Operating revenue: Revenue from transportation Other $ , , , , ,135 Operating expenses: Wages and related employee benefits: Wages Medical and dental insurance Other postemployment benefits Pensions Social security taxes Workers' compensation Other Capitalized costs 410,156 77, ,676 91,988 36,760 7,989 1,346 (22,353) 399,292 67, ,035 79,568 34,990 11,125 1,987 (19,351) 786, ,873 Other operating expenses: Depreciation and amortization Materials, supplies. and services Injuries and damages Commuter railroad and local subsidy expenses (note 4) Other 366, ,146 13, ,262 8, , ,375 3, ,010 5,020 1,031, ,354 Total operating expenses I,818,293 1,679,227 Operating loss (1,289,387) (1,168,092) Nonoperating revenue (expense): Dedicated sales tax revenue (note 14) Contract assistance - Commonwealth of Massachusetts Dedicated local assessments (note 14) Fair value change in investment derivative~ Other income Interest income Interest expense 779, , , 125 1,230 32,599 43,947 (284,560) 767, , ,429 1,809 17,457 32,470 (282,651) Nonoperating revenue. net 884, ,571 Loss before capital grants (404,954) (321,521) Capital grants and contributions 246, ,361 Decrease in net assets ( 158,380) (82, 160) Beginning of year net assets 2,761,832 2,843,992 End of year net assets $ 2,603,452 2,761,832 See accompanying notes to financial statements. 5