HomeMy Public PortalAbout12 December 6, 2013 State Route 91 Advisory"
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J e n n i f e r H a r m o n
( R C T C ) m
O C T A A G E N D A
S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e M e e t i n g
C o m m i t t e e M e m b e r s
B o b M a g e e , R C T C , C h a i r m a n
M i c h a e l H e n n e s s e y , O C T A , V i c e C h a i r m a n
G a i l E a s t m a n , O C T A
B e r w i n H a n n a , R C T C
K e v i n J e f f r i e s , R C T C
A l M u r r a y , O C T A
T i m S h a w , O C T A
K a r e n S p i e g e l , R C T C
T o d d S p i t z e r , O C T A
J o h n T a v a g l i o n e , R C T C
J e f f r e y L a l l o w a y , O C T A , A l t e r n a t e
R o n R o b e r t s , R C T C , A l t e r n a t e
G r e g W i n t e r b o t t o m , O C T A , A l t e r n a t e
E d G r a h a m , S A N B A G , E x - O f f i c i o
R y a n C h a m b e r l a i n , C a / t r a n s D i s t . 1 2 , E x - O f f i c i o
B a s e m M u a l l e m , C a / t r a n s D i s t . 8 , E x - O f f i c i o
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
H e a d q u a r t e r s
6 0 0 S o u t h M a i n S t r e e t
F i r s t F l o o r - R o o m 1 5 4
O r a n g e , C a l i f o r n i a
F r i d a y , D e c e m b e r 6 , 2 0 1 3 , a t 9 : 0 0 a . m .
A n y p e r s o n w i t h a d i s a b i l i t y w h o r e q u i r e s a m o d i f i c a t i o n o r a c c o m m o d a t i o n i n o r d e r t o
p a r t i c i p a t e i n t h i s m e e t i n g s h o u l d c o n t a c t t h e O C T A C l e r k o f t h e B o a r d , t e l e p h o n e
( 7 1 4 ) 5 6 0 - 5 6 7 6 , n o l e s s t h a n t w o ( 2 ) b u s i n e s s d a y s p r i o r t o t h i s m e e t i n g t o e n a b l e
O C T A t o m a k e r e a s o n a b l e a r r a n g e m e n t s t o a s s u r e a c c e s s i b i l i t y t o t h i s m e e t i n g .
A g e n d a d e s c r i p t i o n s a r e i n t e n d e d t o g i v e m e m b e r s o f t h e p u b l i c a g e n e r a l s u m m a r y o f
i t e m s o f b u s i n e s s t o b e t r a n s a c t e d o r d i s c u s s e d . T h e p o s t i n g o f t h e r e c o m m e n d e d
a c t i o n s d o e s n o t i n d i c a t e w h a t a c t i o n w i l l b e t a k e n . T h e C o m m i t t e e m a y t a k e a n y
a c t i o n w h i c h i t d e e m s t o b e a p p r o p r i a t e o n t h e a g e n d a i t e m a n d i s n o t l i m i t e d i n a n y
w a y b y t h e n o t i c e o f t h e r e c o m m e n d e d a c t i o n .
A l l d o c u m e n t s r e l a t i v e t o t h e i t e m s r e f e r e n c e d i n t h i s a g e n d a a r e a v a i l a b l e f o r p u b l i c
i n s p e c t i o n a t w w w . o c t a . n e t o r t h r o u g h t h e C l e r k o f t h e B o a r d ' s o f f i c e a t t h e O C T A
H e a d q u a r t e r s , 6 0 0 S o u t h M a i n S t r e e t , O r a n g e , C a l i f o r n i a .
C a l l t o O r d e r
P l e d g e o f A l l e g i a n c e
M e m b e r S p i e g e l
1 . P u b l i c C o m m e n t s
S p e c i a l C a l e n d a r
T h e r e a r e n o S p e c i a l C a l e n d a r m a t t e r s .
P a g e 1 o f 4
C O M M - S R 9 1 A C - 0 0 0 0 3
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OCTA AGENDA
State Route 91 Advisory Committee Meeting
Consent Calendar (Items 2 through 4)
All items on the Consent Calendar are to be approved in one motion unless a
Committee Member or a member of the public requests separate action or
discussion on a specific item.
2. Approval of Minutes
Of the August 2, 2013, State Route 91 Advisory Committee meeting.
3. 91 Express Lanes Monthly Status Reports
Kirk Avila, General Manager of the 91 Express Lanes
Orange County Transportation Authority
Overview
The 91 Express Lanes status reports for the months of July 2013 through
October 2013 have been prepared for State Route 91 Advisory Committee
review. The reports highlight operational and financial activities.
Recommendation
Receive and file the 91 Express Lanes Monthly Status Reports for the months of
July 2013 through October 2013.
4. Fiscal Year 2012-13 91 Express Lanes Annual Financial Statements
Kirk Avila, General Manager of the 91 Express Lanes
Orange County Transportation Authority
Overview
Vavrinek, Trine, Day and Co., LLP, an independent accounting firm, has
completed the annual audit of the 91 Express Lanes financial statements for
fiscal year 2012-13 and has issued its independent auditor's opinion. A copy of
the audited financial statements is attached for the State Route 91 Advisory
Committee review.
Recommendation
Receive and file the fiscal year 2012-13, 91 Express Lanes Annual Financial
Statements.
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O C T A A G E N D A
S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e M e e t i n g
R e g u l a r C a l e n d a r
T h e r e a r e n o R e g u l a r C a l e n d a r m a t t e r s .
D i s c u s s i o n I t e m s
5 . 9 1 E x p r e s s L a n e / S t a t e R o u t e 2 4 1 D i r e c t C o n n e c t o r U p d a t e
K i a M o r t a z a v i , E x e c u t i v e D i r e c t o r o f P l a n n i n g
6 .
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
T h e O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y a n d t h e T r a n s p o r t a t i o n C o r r i d o r
A g e n c i e s a r e w o r k i n g t o g e t h e r t o i m p l e m e n t a d i r e c t c o n n e c t o r b e t w e e n t h e
S t a t e R o u t e 2 4 1 a n d t h e 9 1 E x p r e s s L a n e s . T h e p r o j e c t w i l l p r o v i d e a d d i t i o n a l
t r a n s p o r t a t i o n s y s t e m c o n n e c t i v i t y , a n d s t a f f w i l l b r i e f t h e C o m m i t t e e o n t h e
s t a t u s o f p r o j e c t a c t i v i t i e s .
T r a n s p o r t a t i o n C o r r i d o r A g e n c i e s N o n - S t o p T r a v e l f o r A l l C u s t o m e r s
C o m i n g S o o n
L i s a T e l l e s , C h i e f C o m m u n i c a t i o n s O f f i c e r
T r a n s p o r t a t i o n C o r r i d o r A g e n c i e s
S t a f f f r o m t h e T r a n s p o r t a t i o n C o r r i d o r A g e n c i e s w i l l p r e s e n t i n f o r m a t i o n a b o u t
p l a n s t o t r a n s i t i o n t o a l l e l e c t r o n i c t o l l i n g o n t h e S t a t e R o u t e 7 3 , S t a t e R o u t e 2 4 1 ,
a n d S t a t e R o u t e 2 6 1 .
7 . U s e o f 9 1 E x p r e s s L a n e s E x c e s s T o l l R e v e n u e s U p d a t e
K i a M o r t a z a v i , E x e c u t i v e D i r e c t o r o f P l a n n i n g
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
T h e O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y p r e p a r e s a n a n n u a l S t a t e R o u t e 9 1
I m p l e m e n t a t i o n P l a n t h a t i d e n t i f i e s p o t e n t i a l p r o j e c t s e l i g i b l e f o r 9 1 E x p r e s s
L a n e s e x c e s s t o l l r e v e n u e s .
8 . C o n f i d e n t i a l P l a t e U p d a t e
K i r k A v i l a , G e n e r a l M a n a g e r o f t h e 9 1 E x p r e s s L a n e s
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
S t a f f w i l l p r o v i d e S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e M e m b e r s w i t h a n u p d a t e
o n c o n f i d e n t i a l p l a t e l e g i s l a t i o n .
P a g e 3 o f 4
m rt,
OCTA AGENDA
State Route 91 Advisory Committee Meeting
9. General Manager's Report
10. Committee Members' Reports
11. Closed Session
There is no Closed Session scheduled.
12. Adjournment
The next regularly scheduled meeting of this Committee is to be determined and
will take place in Corona, California.
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m O C T A M I N U T E S
S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e M e e t i n g
C o m m i t t e e M e m b e r s P r e s e n t
B o b M a g e e , R C T C , C h a i r m a n
G a i l E a s t m a n , O C T A
B e r w i n H a n n a , R C T C
K e v i n J e f f r i e s , R C T C
A l M u r r a y , O C T A
T i m S h a w , O C T A
K a r e n S p i e g e l , R C T C
T o d d S p i t z e r , O C T A
J o h n T a v a g l i o n e , R C T C
R y a n C h a m b e r l a i n , C a / t r a n s D i s t . 1 2 , E x - O f f i c i o
B a s e m M u a l l e m , C a / t r a n s D i s t . 8 , E x - O f f i c i o
C o m m i t t e e M e m b e r s A b s e n t
M i c h a e l H e n n e s s e y , O C T A , V i c e C h a i r m a n
J e f f r e y L a l / o w a y , O C T A , A l t e r n a t e
R o n R o b e r t s , R C T C , A l t e r n a t e
G r e g W i n t e r b o t t o m , O C T A , A l t e r n a t e
E d G r a h a m , S A N B A G , E x - O f f i c i o
C a l l t o O r d e r
S t a f f P r e s e n t
A n n e M a y e r , R C T C , E x e c u t i v e D i r e c t o r
D a r r e l l J o h n s o n , O C T A , C h i e f E x e c u t i v e O f f i c e r
K i r k A v i l a , O C T A , G e n e r a l M a n a g e r , 9 1 E x p r e s s L a n e s
L a u r e n a W e i n e r t , O C T A , A s s i s t a n t C l e r k o f t h e B o a r d
M a r y K . B u r t o n , O C T A , D e p u t y C l e r k o f t h e B o a r d
S t e v e n D e B a u n , R C T C , L e g a l C o u n s e l
K e n n a r d R . S m a r t , J r . , O C T A , G e n e r a l C o u n s e l
O C T A a n d R C T C s t a f f a n d G e n e r a l P u b l i c
T h e A u g u s t 2 , 2 0 1 3 , r e g u l a r m e e t i n g o f t h e S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e w a s
c a l l e d t o o r d e r b y C o m m i t t e e C h a i r m a n M a g e e a t 9 : 0 5 a . m . a t t h e C i t y o f C o r o n a -
C i t y H a l l , 4 0 0 S o u t h V i c e n t i a A v e n u e , C o u n c i l C h a m b e r s - F i r s t F l o o r , C o r o n a ,
C a l i f o r n i a .
P l e d g e o f A l l e g i a n c e
M e m b e r S p i e g e l l e d i n t h e P l e d g e o f A l l e g i a n c e .
1 . P u b l i c C o m m e n t s
N o p u b l i c c o m m e n t s w e r e r e c e i v e d .
S p e c i a l C a l e n d a r
T h e r e w e r e n o S p e c i a l C a l e n d a r m a t t e r s .
A u g u s t 2 , 2 0 1 3 P a g e 1 o f 5
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OCTA MINUTES
State Route 91 Advisory Committee Meeting
Consent Calendar (Items 2 and 3)
2. Approval of Minutes
A motion was made by Member Shaw, seconded by Member Spiegel, and
declared passed by those present, to approve minutes of the May 1, 2013,
Special meeting.
Members Hanna and Jeffries abstained on this item due to not being in
attendance for the meeting.
3. 91 Express Lanes Monthly Status Reports
A motion was made by Member Shaw, seconded by Member Spiegel, and
declared passed by those present, to receive and file the 91 Express Lanes
Monthly Status Reports for the months of March 2013 through June 2013.
Regular Calendar
4. 91 Express Lanes Toll Violations Process Overview
Kirk Avila, OCTA General Manager of the 91 Express Lanes, presented the
91 Express Lanes toll violations process, as follows:
• Background
• How transactions/violations are recorded
• Collection process
• Confidential license plates
• Other deterrent measures
Member Murray:
• Inquired about the special enforcement days budget amount and if it needed
to be increased. Mr. Avila responded that the California Highway Patrol
(CHP) enforcement services budget is approximately $500,000 per year, and
stated that the budget amount was increased slightly for the special
enforcement days.
• Inquired about the enforcement efforts public outreach (i.e., digital displays,
signage, etc.), and Mr. Avila responded that there is no additional signage;
however, in the next 91 Express Lanes quarterly report, there will be a
questions and answers article with a CHP officer highlighting the enforcement
efforts.
August 2, 2013 Page 2 of 5
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O C T A M I N U T E S
S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e M e e t i n g
4 . ( C o n t i n u e d )
" R e q u e s t e d t h a t a l e t t e r b e s e n t t o t h e O r a n g e C o u n t y p o l i c e c h i e f s a n d p o l i c e
o f f i c e r s ' a s s o c i a t i o n s r e g a r d i n g t h e c o n f i d e n t i a l p l a t e s g o i n g t h r o u g h t h e t o l l
r o a d s .
M e m b e r S p i t z e r :
" I n q u i r e d i f l e g i s l a t i o n w o u l d r e m e d y t h e c o n f i d e n t i a l l i c e n s e p l a t e c o n c e r n s .
M r . A v i l a r e s p o n d e d t h a t : 1 ) t h e c o n f i d e n t i a l p l a t e s t o l l v i o l a t i o n c o l l e c t i o n r a t e
i s a b o u t 6 5 p e r c e n t , 2 ) g i v e n t h e t r i p s o n t h e l a n e s a r e s m a l l a m o u n t s t h a t a r e
n o t r e s o l v e d , a n d 3 ) h e b e l i e v e s O C T A ' s e f f o r t s a r e g o o d .
" A s k e d M e m b e r C h a m b e r l a i n i f t h e C a l t r a n s ' a d m i n i s t r a t i o n w o u l d l o o k i n t o
t h e c o n f i d e n t i a l l i c e n s e p l a t e c o n c e r n s a s t h e y g o f o r w a r d w i t h e x p l o r i n g
m a n a g e d l a n e s a s a p u b l i c p o l i c y . M e m b e r C h a m b e r l a i n r e s p o n d e d t h a t a t
t h i s t i m e , C a l t r a n s h a s n o t r e v i e w e d a n d j u s t n o w i s e x p l o r i n g t o l l r o a d
o p p o r t u n i t i e s / c o n c e r n s .
" R e q u e s t e d t h a t C a l t r a n s r e v i e w t h e c o n f i d e n t i a l p l a t e t o l l r o a d c o n c e r n s a n d
b r i n g i t b a c k t o t h i s C o m m i t t e e i f l e g i s l a t i o n i s n e e d e d . M e m b e r C h a m b e r l a i n
r e s p o n d e d t h a t h e w o u l d o b t a i n f e e d b a c k f r o m t h e C a l t r a n s a d m i n i s t r a t i o n
a n d b r i n g i t b a c k t o t h i s C o m m i t t e e .
M e m b e r S p i e g e l r e q u e s t e d t h a t t h e c h i e f / p o l i c e o f f i c e r s ' a s s o c i a t i o n s
c o r r e s p o n d e n c e a l s o b e s e n t t o R i v e r s i d e , S a n B e r n a r d i n o , a n d L o s A n g e l e s
c o u n t i e s ' a s s o c i a t i o n s . I n a d d i t i o n , s h o u l d p o t e n t i a l c o n f i d e n t i a l p l a t e t o l l
l e g i s l a t i o n m o v e f o r w a r d , h a v i n g t h e c o u n t i e s w o r k t o g e t h e r w o u l d p r o v i d e
s t r o n g e r s u p p o r t f o r t h e b i l l .
D a r r e l l J o h n s o n , O C T A C h i e f E x e c u t i v e O f f i c e r , s u g g e s t e d t h a t O C T A a n d
R C T C c o u l d e x a m i n e t h e c o n f i d e n t i a l p l a t e c o n c e r n s a s b o t h a g e n c i e s
d e v e l o p e d t h e i r a n n u a l s t a t e a n d l e g i s l a t i v e p l a t f o r m s , a s w e l l a s r e a c h o u t t o t h e
C a l i f o r n i a t o l l o p e r a t o r s w o r k i n g g r o u p , s e l f - h e l p c o u n t y c o a l i t i o n , t h e n e w
S e c r e t a r y o f T r a n s p o r t a t i o n , A n t h o n y F o x x , a n d C a l t r a n s .
A n n e M a y e r , R C T C E x e c u t i v e D i r e c t o r , r e p o r t e d t h a t R C T C m e t w i t h t h e r a t i n g
a g e n c i e s a n d p o t e n t i a l i n v e s t o r s r e g a r d i n g t h e r e c e n t l y s o l d b o n d s i n
R i v e r s i d e C o u n t y , a n d t h e r e w e r e s e v e r a l q u e s t i o n s r e g a r d i n g t h e s t a t i s t i c s
r e l a t e d t o t o l l v i o l a t i o n s a n d p o l i c i e s .
A m o t i o n w a s m a d e b y M e m b e r H a n n a , s e c o n d e d b y M e m b e r M u r r a y , a n d
d e c l a r e d p a s s e d b y t h o s e p r e s e n t , t o r e c e i v e a n d f i l e a s a n i n f o r m a t i o n i t e m .
A u g u s t 2 , 2 0 1 3 P a g e 3 o f 5
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OCTA MINUTES
State Route 91 Advisory Committee Meeting
Discussion Items
5. State Route 91 Corridor Improvement Project Update
Michel Blomquist, RCTC Toll Program Director, presented an update on the
State Route 91 Corridor Improvement project as follows:
• Major milestones completed
• Environmental approval status
• Selection of design-builder
• Award of design-build contract
• Project scope summary and financing
• Plan of finance overview
• Summary of Transportation Infrastructure Finance and Innovation Act loan
• Agency agreements
• Right-of-way acquisition: 249 parcels
• Key project milestone dates
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Anne Mayer, RCTC Executive Director, announced the tentative date of •
December 11 for RCTC's 91 Express Lanes groundbreaking event.
Member Spitzer requested that past Committee/Board Members involved with
the 91 Express Lanes be invited to the upcoming RCTC groundbreaking event.
6. 91 Express Lanes Debt
Kirk Avila, OCTA General Manager of the 91 Express Lanes, reported on
OCTA's issuance of debt for the 91 Express Lanes. On July 22, 2013, OCTA's
Board authorized refinancing of the 91 Express Lanes debt, which was priced on
July 30 with a savings of $18 million over the life of the bonds and scheduled to
close on August 8.
August 2, 2013 Page 4 of 5
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O C T A M I N U T E S
S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e M e e t i n g
7 . G e n e r a l M a n a g e r ' s R e p o r t
K i r k A v i l a , O C T A G e n e r a l M a n a g e r o f t h e 9 1 E x p r e s s L a n e s , r e p o r t e d t h a t :
" T h e f i r s t 2 7 d a y s o f J u l y t r a f f i c v o l u m e s w e r e u p 1 . 8 p e r c e n t a n d r e v e n u e s u p
1 . 3 p e r c e n t .
" F i s c a l Y e a r 2 0 1 2 - 1 3 e n d e d w i t h r e v e n u e s u p 1 . 1 p e r c e n t a n d t r a f f i c v o l u m e s
u p 1 . 2 p e r c e n t .
" I n D e c e m b e r 2 0 1 2 , t h e g e n e r a l p u r p o s e l a n e a d d i t i o n p r o j e c t w a s c o m p l e t e d
f r o m t h e S t a t e R o u t e ( S R ) 2 4 1 t o S R - 5 5 i n b o t h w e s U e a s t b o u n d d i r e c t i o n s .
" S i n c e t h e D e c e m b e r 2 0 1 2 g e n e r a l p u r p o s e l a n e p r o j e c t o p e n i n g , t h e
9 1 E x p r e s s L a n e s i n D e c e m b e r 2 0 1 2 a n d J a n u a r y / F e b r u a r y 2 0 1 3 h a d
d e c r e a s e d t r a f f i c v o l u m e s w h e n c o m p a r e d t o t h e p r i o r y e a r . H o w e v e r , a f t e r
F e b r u a r y , t r a f f i c v o l u m e s i n c r e a s e d o n a n a v e r a g e o f 1 . 6 p e r c e n t c o m p a r e d
t o t h e p r i o r y e a r .
" 8 . C o m m i t t e e M e m b e r s ' R e p o r t s
"
M e m b e r S p i t z e r r e q u e s t e d a r e v i e w a n d d i s c u s s i o n a t t h e O C T A F i n a n c e a n d
A d m i n i s t r a t i o n ( F & A ) C o m m i t t e e r e g a r d i n g t h e 9 1 E x p r e s s L a n e s o n e - t i m e
c u s t o m e r a p p r e c i a t i o n c o m p o n e n t w i t h t h e e x c e s s s a v i n g s , a s w e l l a s p r o v i d e a n
u p d a t e t o t h i s C o m m i t t e e r e g a r d i n g t h e F & A C o m m i t t e e ' s d i s c u s s i o n s .
M r . A v i l a r e s p o n d e d t h a t M e m b e r S p i t z e r ' s r e q u e s t c o u l d b e r e v i e w e d ; h o w e v e r ,
h e c a u t i o n e d n o t u s i n g i n c e n t i v e s w i t h r e s p e c t t o p r i c i n g o n t h e f a c i l i t y .
9 . A d j o u r n m e n t
T h e m e e t i n g a d j o u r n e d a t 9 : 5 5 a . m .
T h e n e x t r e g u l a r l y s c h e d u l e d m e e t i n g o f t h i s C o m m i t t e e w i l l b e h e l d a t
9 : 0 0 a . m . , F r i d a y , D e c e m b e r 6 , 2 0 1 3 , a t t h e O C T A H e a d q u a r t e r s .
A T T E S T
B o b M a g e e
C o m m i t t e e C h a i r m a n
A u g u s t 2 , 2 0 1 3
L a u r e n a W e i n e r t
O C T A A s s i s t a n t C l e r k o f t h e B o a r d
P a g e 5 o f 5
" m
O C T A
"
"
D e c e m b e r 6 , 2 0 1 3
T o : S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e
F r o m : K i r k A v i l a ~ n e r a l M a n a g e r , 9 1 E x p r e s s L a n e s
S u b j e c t : 9 1 E x p r e s s L a n e s M o n t h l y S t a t u s R e p o r t s
O v e r v i e w
T h e 9 1 E x p r e s s L a n e s M o n t h l y S t a t u s R e p o r t s f o r t h e m o n t h s o f J u l y 2 0 1 3
t h r o u g h O c t o b e r 2 0 1 3 h a v e b e e n p r e p a r e d f o r S t a t e R o u t e 9 1 A d v i s o r y
C o m m i t t e e r e v i e w . T h e r e p o r t s h i g h l i g h t o p e r a t i o n a l a n d f i n a n c i a l a c t i v i t i e s .
R e c o m m e n d a t i o n
R e c e i v e a n d f i l e t h e 9 1 E x p r e s s L a n e s M o n t h l y S t a t u s R e p o r t s f o r t h e m o n t h s
o f J u l y 2 0 1 3 t h r o u g h O c t o b e r 2 0 1 3 .
B a c k g r o u n d
M o n t h l y s t a t u s r e p o r t s a r e p r e p a r e d t o d o c u m e n t 9 1 E x p r e s s L a n e s a c t i v i t y a n d
a r e p r o v i d e d f o r S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e r e v i e w .
D i s c u s s i o n
T h e J u l y 2 0 1 3 s t a t u s r e p o r t f o r t h e 9 1 E x p r e s s L a n e s i s p r o v i d e d i n
A t t a c h m e n t A . I n J u l y 2 0 1 3 , t r a f f i c v o l u m e i n t h e 9 1 E x p r e s s L a n e s i n c r e a s e d
2 . 9 p e r c e n t a n d g r o s s p o t e n t i a l t o l l r e v e n u e i n c r e a s e d 3 . 8 p e r c e n t a s c o m p a r e d
t o t h e p r i o r y e a r .
T h e A u g u s t 2 0 1 3 s t a t u s r e p o r t i s p r o v i d e d i n A t t a c h m e n t B . I n A u g u s t 2 0 1 3 ,
t r a f f i c v o l u m e i n c r e a s e d b y 1 . 4 p e r c e n t o v e r t h e s a m e p e r i o d i n 2 0 1 2 , a n d
g r o s s p o t e n t i a l t o l l r e v e n u e i n c r e a s e d b y 1 . 8 p e r c e n t .
T h e S e p t e m b e r 2 0 1 3 s t a t u s r e p o r t f o r t h e 9 1 E x p r e s s L a n e s i s p r o v i d e d i n
A t t a c h m e n t C . I n S e p t e m b e r 2 0 1 3 , t r a f f i c v o l u m e i n c r e a s e d b y 1 . 8 p e r c e n t
o v e r t h e s a m e p e r i o d i n 2 0 1 2 , a n d g r o s s p o t e n t i a l t o l l r e v e n u e i n c r e a s e d b y
4 . 8 p e r c e n t .
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
5 5 0 S o u t h M a i n S t r e e t / P . 0 . B o x 1 4 1 8 4 I O r a n g e I C a l i f o r n i a 9 2 8 6 3 - 1 5 8 4 I ( 7 1 4 ) 5 6 0 - 0 C T A ( 6 2 8 2 )
91 Express Lanes Monthly Status Reports Page2
The October 2013 status report for the 91 Express Lanes is provided in
Attachment D. In October 2013, traffic volume in the 91 Express Lanes
increased 4.4 percent over the same period in 2012, and gross potential toll
revenue increased by 5.8 percent as compared to the prior year.
Fiscal year 2013-14 year-to-date (YTD) traffic volume and toll revenue as of
the end of October 2013 increased when compared to the prior year, with YTD
traffic volume increasing by 2.6 percent, and YTD potential toll revenue up by
4 percent.
Staff will continue to closely monitor traffic and revenue data and report back to
the State Route 91 Advisory Committee regularly.
Summary
The 91 Express Lanes Monthly Status Reports for the months of July 2013
through October 2013 are provided for review. The reports highlight operational
and financial activities.
Attachments
A. 91 Express Lanes Status Report-As of July 31, 2013
B. 91 Express Lanes Status Report-As of August 31, 2013
C. 91 Express Lanes Status Report -As of September 30, 2013
D. 91 Express Lanes Status Report -As of October 31, 2013
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•
•
ATTACHMENT A
• m
OCTA Orange County Transportation Authority
•
As of July 31, 2013
•
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"
"
O p e r a t i o n s O v e r v i e w
T r a f f i c a n d R e v e n u e S t a t i s t i c s
T o t a l t r a f f i c v o l u m e o n t h e 9 1 E x p r e s s L a n e s f o r J u l y 2 0 1 3 w a s 1 , 0 7 8 , 9 5 6 . T h i s r e p r e s e n t s a
d a i l y a v e r a g e o f 3 4 , 8 0 5 . T h i s i s a 2 . 9 % i n c r e a s e i n t o t a l t r a f f i c v o l u m e f r o m t h e s a m e p e r i o d l a s t
y e a r w h e n t r a f f i c l e v e l s t o t a l e d 1 , 0 4 8 , 1 7 9 . P o t e n t i a l t o l l r e v e n u e f o r t h e m o n t h w a s $ 3 , 0 0 9 , 3 7 9
w h i c h r e p r e s e n t s a n i n c r e a s e o f 3 . 8 % f r o m t h e p r i o r y e a r ' s t o t a l o f $ 2 , 8 9 8 , 5 6 6 . C a r p o o l
p e r c e n t a g e f o r t h e m o n t h w a s 2 6 . 1 4 % a s c o m p a r e d t o t h e p r e v i o u s y e a r ' s r a t e o f 2 6 . 3 % .
M o n t h - t o - d a t e t r a f f i c a n d r e v e n u e d a t a a r e s u m m a r i z e d i n t h e t a b l e b e l o w . T h e f o l l o w i n g t r i p a n d
r e v e n u e s t a t i s t i c s t a b l e s r e p r e s e n t a l l t r i p s t a k e n o n t h e 9 1 E x p r e s s L a n e s a n d a s s o c i a t e d
p o t e n t i a l r e v e n u e f o r t h e m o n t h o f J u l y 2 0 1 3 .
C u r r e n t M o n t h - t o - D a t e ( M T D ) a s o f J u l y 3 1 , 2 0 1 3
( F i s c a l Y e a r ( F Y ) 2 0 1 3 - 1 4 d a t a i s f o r t h e c o r r e s p o n d i n g m o n t h i n t h a t f i s c a l y e a r )
A v e r a g e F u l l T o l l L a n e s $ 3 . 6 9 $ 3 . 7 2 ( $ 0 . 0 3 )
A v e r a g e 3 + L a n e s $ 0 . 2 5 $ 0 . 2 6 ( $ 0 . 0 1 )
A v e r a g e R e v e n u e P e r T r i p $ 2 . 7 9 $ 2 . 8 3 ( $ 0 . 0 4 )
( 0 . 8 % ) $ 3 . 6 6 0 . 8 %
( 3 . 8 % ) $ 0 . 2 6 ( 3 . 8 % )
( i . 4 % ) $ 2 . 7 7 0 . 7 %
2
Traffic and Revenue Summary
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2013-14 on a monthly basis.
1,400,000
1,225,000
1,050,000
GI 875,000
E
:I
0 > 700,000
525,000
350,000
175,000
FY 2013-14 Traffic Volume Overview
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
Month
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2013-14 on a monthly basis.
$3,100,000
FY 2013-14 Revenue Summary
$3,000,000
$2,900,000
$2,700,000
$2,600,000
$2,500,000
Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14
Month
8Full Toll Lanes 83+ Lanes
3
•
•
•
"
"
"
P e a k t r a f f i c h o u r i n t h e e a s t b o u n d d i r e c t i o n r e a c h e d o r e x c e e d e d 9 0 % o r m o r e o f d e f i n e d
c a p a c i t y t w i c e d u r i n g t h e m o n t h o f J u l y 2 0 1 3 . A s d e m o n s t r a t e d o n t h e n e x t c h a r t , w e s t b o u n d
p e a k h o u r t r a f f i c v o l u m e s t o p o u t a t 6 3 % o f d e f i n e d c a p a c i t y .
E A S T B O U N D P E A K - H O U R V O L U M E S
M o n d a y 0 7 / 0 1 / 1 3 T u e s d a y 0 7 / 0 2 / 1 3 W e d n e s d a y 0 7 / 0 3 / 1 3 T h u r s d a y
P M T i m e , ~ � � ; i : H ( ) v J V Q J . � . . c A i i . ' ~ l > t i c e � � : ~ � $ N < 1 l z $ P c a 1 > .
1 4 0 0 - 1 5 0 0 $ 4 . 4 0
1 5 0 0 - 1 6 0 0 $ 4 . 7 5
1 6 0 0 - 1 7 0 0 $ 4 . 5 5
1 7 0 0 . 1 8 0 0 $ 4 . 8 5
1 8 0 0 - 1 9 0 0 $ 4 . 7 5
1 9 0 0 . 2 0 0 0 $ 3 . 3 5
P M T i m e
1 4 0 0 . 1 5 0 0 $ 4 . 4 0
1 5 0 0 . 1 6 0 0 $ 4 . 7 5
1 6 0 0 . 1 7 0 0 $ 4 . 5 5
1 7 0 0 - 1 8 0 0 $ 4 . 8 5
1 8 0 0 " 1 9 0 0 $ 4 . 7 5
1 9 0 0 . 2 0 0 0 $ 3 . 3 5
2 8 5
4 9 6
5 6 5
5 0 7
4 8 2
3 3 7
3 0 3
5 2 3
5 3 8
4 7 4
4 3 5
3 0 4
1 , 5 6 9 4 6 % $ 4 . 4 0 3 2 8 1 , 7 0 5
2 , 3 6 0 6 9 % $ 3 . 7 0 6 3 0 2 , 8 0 4
3 , 0 1 2 8 9 % $ 5 . 8 0 5 7 5 2 , 9 2 1
2 , 7 9 6 8 2 % $ 5 . 2 5 4 4 2 2 , 4 6 1
2 , 3 8 0 7 0 % $ 3 . 6 0 5 8 0 2 , 8 5 6
1 . 2 9 5 3 8 % $ 3 . 3 5 3 5 6 1 , 6 8 2
T u e s d a y
1 , 5 7 3 4 6 % $ 4 . 4 0 2 9 6 1 , 5 4 4
2 , 4 6 7 7 3 % $ 3 . 7 0 5 3 3 2 , 5 6 3
2 , 7 9 3 8 2 % $ 5 . 8 0 5 4 4 2 , 7 9 5
2 , 6 8 5 7 9 % $ 5 . 2 5 5 0 4 2 , 9 0 1
2 , 1 7 2 6 4 % $ 3 . 6 0 5 1 7 2 , 6 7 3
1 , 2 2 0 3 6 % $ 3 . 3 5 3 3 3 1 , 5 6 6
5 0 %
8 2 %
8 6 %
7 2 %
8 4 %
4 9 %
4 5 %
7 5 %
8 2 %
8 5 %
7 9 %
4 6 %
. ~ � M i l d v " . . W ' ! " i i . 1 '
$ 3 . 1 0
$ 9 . 5 5
$ 9 . 3 5
$ 6 . 0 0
$ 5 . 6 5
$ 5 . 3 0
$ 4 . 4 0
$ 3 . 9 5
$ 7 . 0 0
$ L 5 0
$ 3 . 6 0
$ 3 . 3 5
4 2 4 2 , 5 1 6 7 4 % $ 3 . 6 5
5 9 8 2 , 8 7 9 8 5 % $ 3 . 6 5
5 9 2 2 , 9 2 4 8 6 % $ 3 . 6 5
4 6 3 2 , 6 1 5 7 7 % $ 3 . 6 5
5 0 4 2 , 3 3 1 6 9 % $ 3 . 6 5
4 3 3 1 , 6 6 3 4 9 % $ 3 . 6 5
3 4 2 1 , 6 9 5 5 0 % $ 4 . 5 5
5 3 3 2 , 8 2 4 8 3 % $ 4 . 4 5
5 4 9 2 , 9 5 3 8 7 % $ 9 . 2 0
3 , 0 9 4 ' ~ 9 1 % $ 8 . 5 5
5 6 9 2 , 8 7 8 8 5 % $ 4 . 4 0
4 0 1 1 , 7 9 7 5 3 % $ 4 . 8 5
" ! i ~ O V ' '
2 1 1
1 9 3
1 5 4
1 6 8
1 8 9
2 2 7
3 2 5
5 2 4
5 4 1
4 9 5
4 9 2
3 8 4
M o n d a y 0 7 1 1 5 1 1 3
~ . y q t ; f ~ i ; ~ p ; ) T u e s d a y 0 7 1 1 6 / 1 3 W e d n e s d a y 0 7 / 1 7 / 1 3 T h u r s d a y
P M T i m e
1 4 0 0 - 1 5 0 0 $ 4 . 4 0 2 9 7 1 , 5 2 9 4 5 %
1 5 0 0 . 1 6 0 0 $ 4 . 7 5 5 4 1 2 , 5 2 5 7 4 %
1 6 0 0 . 1 7 0 0 $ 4 . 5 5 5 1 1 2 , 7 4 1 8 1 %
1 7 0 0 . 1 8 0 0 $ 4 . 8 5 4 4 3 2 , 6 7 2 7 9 %
1 8 0 0 . 1 9 0 0 $ 4 . 7 5 5 0 4 2 , 2 7 0 6 7 %
1 9 0 0 . 2 0 0 0 $ 3 . 3 5 3 2 0 1 , 3 0 6 3 8 %
M o n d a y 0 7 / 2 2 1 1 3
P M T i m e
1 4 0 0 . 1 5 0 0 $ 4 . 4 0 3 0 2 4 7 %
1 5 0 0 - 1 6 0 0 $ 4 . 7 5 5 0 7 2 , 5 1 7 7 4 %
1 6 0 0 . 1 7 0 0 $ 4 . 5 5 5 1 9 2 , 8 2 4 8 3 %
1 7 0 0 . 1 8 0 0 $ 4 . 8 5 4 5 6 2 , 7 6 4 8 1 %
1 8 0 0 . 1 9 0 0 $ 4 . 7 5 4 6 0 2 , 1 8 9 6 4 %
1 9 0 0 . 2 0 0 0 $ 3 . 3 5 2 9 5 1 , 2 4 0 3 6 %
M o n d a y 0 7 / 2 9 / 1 3
1 4 0 0 - 1 5 0 0 $ 4 . 4 0 3 1 2 1 , 5 5 7 4 6 %
1 5 0 0 . 1 6 0 0 $ 4 . 7 5 5 6 8 2 , 5 3 3 7 5 %
1 6 0 0 . 1 7 0 0 $ 4 . 5 5 5 3 6 2 , 8 6 1 8 4 %
1 7 0 0 . 1 8 0 0 $ 4 . 8 5 4 4 3 2 , 6 2 1 7 7 %
1 8 0 0 . 1 9 0 0 $ 4 . 7 5 4 7 7 2 , 2 6 8 6 7 %
1 9 0 0 . 2 0 0 0 $ 3 . 3 5 3 0 1 1 . 2 3 8 3 6 %
, , , , , c ~ ~ q ) ' H O I T . V o l . . ; ; ; < : , ; . ~ ~ : : . ; :
$ 4 . 4 0 3 4 2 1 , 7 1 0 5 0 % $ 4 . 4 0 3 1 8 1 , 7 0 9 5 0 % $ 4 . 5 5
$ 3 . 7 0 5 2 8 2 , 6 3 7 7 8 % $ 3 . 9 5 5 4 1 2 , 6 9 5 7 9 % $ 4 . 4 5
$ 5 . 8 0 5 5 7 2 , 9 2 5 8 6 % $ 7 . 0 0 5 4 3 2 , 9 2 0 8 6 % $ 9 . 2 0
$ 5 . 2 5 4 8 1 2 , 8 3 1 8 3 % $ 6 . 5 0 5 3 3 2 , 8 4 9 8 4 % $ 8 . 5 5
$ 3 . 6 0 5 5 6 2 , 7 6 4 8 1 % $ 3 . 6 0 5 1 2 2 , 7 1 4 8 0 % $ 4 . 4 0
$ 3 . 3 5 3 6 5 1 , 6 8 8 5 0 % $ 3 . 3 5 4 3 2 1 , 8 5 5 5 5 % $ 4 . 8 5
0 7 1 2 3 / 1 3 W e d n e s d a y 0 7 / 2 4 1 1 3
c l ! ' : i 1 ! ) n ~ H o v . , " V o l :
$ 3 . 7 0
$ 5 . 8 0
$ 5 . 2 5
$ 3 . 6 0
$ 3 . 3 5
4 9 % $ 4 . 4 0
5 5 9 2 , 6 8 7 7 9 % $ 3 . 9 5
5 4 1 2 , 9 2 5 8 6 % $ 7 . b O
4 8 8 2 , 7 8 6 8 2 % $ 6 . 5 0
5 3 1 2 , 5 7 3 7 6 % $ 3 . 6 0
3 9 6 1 , 5 7 0 4 6 % $ 3 . 3 5
T u e s d a y 0 7 1 3 0 / 1 3
$ 4 . 4 0 3 6 9 1 , 7 5 3 5 2 % $ 4 . 4 0
$ 3 . 7 0 6 1 4 2 , 8 3 1 8 3 % $ 3 . 9 5
$ 5 . 8 0 5 4 8 2 , 9 5 8 8 7 % $ 7 . 0 0
$ 5 . 2 5 5 1 4 3 , 0 3 1 8 9 % $ 6 . 5 0
$ 3 . 6 0 5 3 0 2 , 5 7 3 7 6 % $ 3 . 6 0
$ 3 . 3 5 3 8 1 1 , 5 6 5 4 6 % $ 3 . 3 5
3 4 5 1 , 7 4 5 5 1 % $ 4 . 5 5
5 9 2 2 , 8 3 8 8 3 % $ 4 . 4 5
. s ; i 1 1 2 ; f ! t o % ' ~ $ 9 . 2 0
5 3 4 2 , 9 1 4 8 6 % $ 8 . 5 5
5 0 7 2 , 5 6 7 7 6 % $ 4 . 4 0
4 6 0 1 , 9 1 6 5 6 % $ 4 . 8 5
3 3 4
6 1 4
5 8 0
4 5 5
5 3 5
4 7 9
1 , 7 3 7
2 , 8 6 1
3 , 0 1 4
2 , 7 8 3
2 , 8 4 5
2 , 1 5 1
" '
3 5 7
6 0 2
5 6 4
5 1 9
5 3 7
4 4 2
3 6 4
5 9 4
5 9 9
5 5 8
5 7 4
4 3 0
0 7 / 0 4 1 1 3 F r i d a y 0 7 / 0 5 / 1 3
V # I . � � ~ p " ' ~ : H O V . > v . . i i � ; . ; ~ .
5 8 7 1 7 % $ 4 . 2 0 3 6 9 1 , 5 0 8 4 4 %
5 6 3 1 7 % $ 4 . 2 0 3 9 3 1 , 6 6 9 4 9 %
4 6 6 1 4 % $ 4 . 2 0 3 8 6 1 , 4 7 5 4 3 %
4 2 7 1 3 % $ 4 . 2 0 3 7 7 1 , 4 4 2 4 2 %
4 3 5 1 3 % $ 4 . 2 0 3 3 4 1 , 1 1 3 3 3 %
4 7 5 1 4 % $ 4 . 2 0 3 0 1 8 7 9 2 6 %
0 7 1 1 1 1 1 3 F r i d a y 0 7 / 1 2 1 1 3
v ~ . . . ; ; c a p : P r i c e t t ~ i l ' . 1 ; : . v 0 1 ; ~ < . ; .
1 , 8 6 8 5 5 % $ 3 . 1 0 4 7 9 2 , 6 6 2 7 8 %
2 , 8 0 7 8 3 % $ 9 . 5 5 6 n 2 . 9 2 2 8 6 %
2 , 8 9 4 8 5 % $ 9 . 3 5 5 3 6 2 , 8 9 8 8 5 %
2 , 9 1 8 8 6 % $ 6 . 0 0 4 8 7 2 , 9 3 0 8 6 %
2 , 7 8 2 8 2 % $ 5 . 6 5 4 6 6 2 , 3 6 0 6 9 %
1 , 7 0 6 5 0 % $ 5 . 3 0 4 3 9 1 , 7 4 6 5 1 %
0 7 / 1 8 / 1 3 . . .
1 , 8 9 6
2 , 8 5 1
2 , 9 7 1
2 , 8 8 9
2 , 5 9 7
1 , 8 9 2
1 , 9 1 7
2 , 8 5 1
3 , 0 3 5
2 , 9 2 9
2 , 7 1 1
1 , 7 4 2
F r i d a y 0 7 / 1 9 / 1 3
1 1 f i c e " H O V , V : 9 1 - ~ .
5 6 % $ 3 . 1 0 4 5 5 2 , 6 6 5 7 8 %
8 4 % $ 9 . 5 5 6 5 8 2 , 9 3 3 8 6 %
8 7 % $ 9 . 3 5 5 0 9 2 , 8 1 0 8 3 %
8 5 % $ 6 . 0 0 4 2 8 2 , 3 0 3 6 8 %
7 6 % $ 5 . 6 5 5 4 9 2 , 6 6 9 7 9 %
5 6 % $ 5 . 3 0 4 2 8 1 , 6 6 6 4 9 %
F r i d a y 0 7 1 2 6 / 1 3
! J ' t i j : ' e ' . / i l t l f v a 1 " . - � . ~ �
5 6 % $ 3 . 1 0 4 4 7 2 , 5 7 8 7 6 %
8 4 % $ 9 . 5 5 6 1 9 2 , 8 2 4 8 3 %
8 9 % $ 9 . 3 5 5 4 0 2 , 8 6 0 8 4 %
8 6 % $ 6 . 0 0
8 0 % $ 5 . 6 5
5 1 % $ 5 . 3 0
4 8 2 2 , 6 5 7 7 8 %
5 2 7 2 , 2 4 3 6 6 %
4 6 8 1 , 6 0 8 4 7 %
4
WESTBOUND PEAK-HOUR VOLUMES
AM lime
0400 -0500 $2.60
0500 -0600 $4.20
0600 -0700 $4.40
0700 -0800 $4.90
0800 -0900 $4.40
0900 -1000 $3.50
276 741
536 1,834
485 2,015
369 1,782
284 1,640
241 1,225
Monday 07/08/13
AMlime .. ~:-jlffot:i~1i·~i1!
0400-0500 $2.60 288 821
0500-0600 $4.20 466 1,611
0600-0700 $4.40 467 2,017
0700-0800 $4.90 350 1,693
0800-0900 $4.40 303 1,751
0900-1000 $3.50 240 1,357
22% $2.60
54% $4.20
59% $4.40
52% $4.90
48% $4.40
36% $3.50
280
580
524
379
293
294
Tuesday
733 22%
1,797 53%
2,084 61% $4.20
1,752 52% $4.75
1,728 51% $4.20
1,434 42% $3.50
287
534
492
330
277
328
07/09113 Wednesday
706 21% $1.40
1,753 52% $1.40
1.998 59% $1.40
1,379 41% $1.40
1,610 47% $2.20
1,756 52% $3.65
26
73
87
113
159
247
07110113 Thursday -; ,.1·:,;.fftlVf;;i.idj;·•~t 1Sw!Jt«wlt~L ~-· .
24% $2.60 285 696 20% $2.60 321 747 22% $2.60 307
47% $4.20 546 1,806 53% $4.20 560 1,777 52% $4.20 551
59% $4.40 467 1,981 58% $4.40 490 2,008 59% $4.40 499
50% $4.90 387 1,837 54% $4.90 414 1,898 56% $4.90 419
52% $4.40 292 1,660 49% $4.40 325 1,717 51% $4.40 323
40% $3.50 254 1,483 44% $3.50 287 1.539 45% $3.50 249
62
139
205
257
368
525
07111113
'j•
744
1,802
2,130
1,859
1,753
1,566
2% $1.40
4% $1.40
6% $2.20
8% $2.60
11% $2.60
15% $3.35
07105113
90 237 7%
210 731 22%
193 798 23%
194 728 21%
204 755 22%
252 797 23%
Friday 07112113
·:· . 11ffii.0'. 'lliYO!Tiil!{Gat('.
22% $2.60 273 676 2.0%
53% $4.05 481 1,627 48%
63% $4.20 466 1,839 54%
55% $4.75 353 1,609 47%
52% $4.20 298 1,554 46%
46% $3.50 281 1,255 37%
Monday 07/16113 Wednesday 07117/13 Thursday 07/18/13 Friday 07119113
0400 -0500 $2.60 302 313 718 21% $2.60 314 785 23% $2.60 310 735 22% $2.60 275 652 19%
0500 -0600 $4.20 538 545 1.808 53% $4.20 276 661 19% $4.20 557 1,828 54% $4.05 508 1,686 50%
0600-0700 $4.40 471 511 2, 125 63% $4.40 242 786 23% $4.40 514 2, 103 62% $4.20 396 1,660 49%
0700-0800 $4.90 362
736 22% $2.60
1,802 53% $4.20
2,046 60% $4.40
1,760 52% $4.90
1,586 47% $4.40
1,652 49% $3.50
425 1,879 55% $4.90 441 1,767 52% $4.90 389 1,799 53% $4.75 393 1,696 50%
0800 -0900 $4.40 264 324 1,708 50% $4.40 343 1,759 52% $4.40 313 1,664 49% $4.20 285 1,520 45%
0900 -1000 $3.50 271 287 1.617 48% $3.50 317 1,974 58% $3.50 269 1,437 42% $3.50 266 1,217 36%
Monday 07122113 Tuesday 07/23113 Wednesday 07124113 Thursday
AM lime Plfc& ~;HQV@i1:' ·· Price ·nov vpt: .• Cap. 1gfi4l!ll~. ifol.. •• lloV
0400 -0500 $2.60 284 763 22% $2.60 309 718 21% $2.60 309 732 22% $2.60 324
0500-0600 $4.20 532 1,781 52% $4.20 552 1,771 52% $4.20 540 1,588 47% $4.20 569
0600-0700 $4.40 458 1,989 59% $4.40 487 2,072 61% $4.40 482 2,049 60% $4.40 489
0700-0800 $4.90 374 1,715 50% $4.90 399 1,824 54% $4.90 405 1,821 54% $4.90 403
0800-0900 $4.40 276 1,541 45% $4.40 301 1,494 44% $4.40 290 1.696 50% $4.40 314
0900-1000 $3.50 281 1,600 47% $3.50 301 1,585 47% $3.50 342 1,786 53% $3.50 308
AMlime
0400-0500 $2.60
0500 -0600 $4.20
0600 -0700 $4.40
0700 • 0800 $4.90
275 736 22% $2.60
561 1,848 54% $4.20
474 1,975 58% $4.40
363 1,745 51% $4.90
Wednesday 07131113
303 752 22% $2.60 318 789
579 1,832 54% $4.20 620 1,814
501 2,061 61% $4.40 464 2,061
395 1,776 52% $4.90 398 1,875
0800 -0900 $4.40 265 1,587 47% $4.40 337 1,705 50% $4.40
1,537 45% $3.50
266 1,514
0900-1000 $3.50 228 1,376 40% $3.50 286 268 1,291
07/25113
VQi;
Friday 07/26113
l.i•.~· HOV.···
774 23% $2.60 263
1,776 52% $4.05 509
1,968 58% $4.20 438
1,797 53% $4.75 351
1,664 49% $4.20 258
1,547 46% $3.50 349
684 20%
1,567 46%
1,866 55%
1,523 45%
1,195 35%
1,431 42%
5
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"
T r a n s p o n d e r D i s t r i b u t i o n S t a t u s
t J u l y - 1 3 ~ ~ T R A N S P O N D E R D I S T R I B U T I O N - ~ ~ ~ - - � - ~
T a g s ! " l o o r 1 o t a 1 T o t a l
" ' " ' " ' ) ' 4 " ' " " "
I s s u e d . . .
1 T o N e w A c c o u n t s ' 8 7 4 2 6 . 1 % 6 9 1 2 6 . 3 % 9 1 4 2 6 . 0 %
" " v . , . " � A d d i t i o n a l T a g s t o E x i s t i n g A c c o u n t s l 6 8 6 2 0 . 5 % 2 1 . 9 % 7 1 2 2 0 . 3 % ' . ,
R e p l a c ; e r r e n t . T r a n s p o n d e r s ' 1 , 8 8 ~ . 5 3 . 7 % I . . . . . � � > . .
T o t a l I s s u e d 3 , 5 0 9
R e t u r n e d
A c c o u n t a o s u r e s I 5 8 0 . 2 3 . e o f o r 5 7 2 2 8 . 2 % 6 1 9 2 3 . 6 %
' ' , " c v ' '
A c c o u n t s . . D o w n s i z i n g . ' 2 1 6 1 0 . 6 % 2 7 2 1 0 . 4 % , ~ . , 2 5 2 ~ ~ : i ~ I h ' c
D e f e c t i v e T r a n s p o n d e r s i 1 ! 5 ~ 2 . 1 , 2 4 2
T o t a l R e t u r n e d : 2 , 4 2 4
� " . " h " � " X . , 9 1 ' '
2 , 0 3 0
A t t h e e n d o f J u l y 2 0 1 3 , t h e 9 1 E x p r e s s L a n e s h a d 1 1 3 , 1 0 8 a c t i v e c u s t o m e r a c c o u n t s , w i t h
1 6 8 , 9 2 1 t r a n s p o n d e r s a s s i g n e d t o t h o s e a c c o u n t s .
1 2 5 , 0 0 0
1 2 0 , 0 0 0
1 1 5 , 0 0 0
1 1 0 , 0 0 0
O p e r a t i o n a l H i g h l i g h t s
O n - r o a d O p e r a t i o n s
N u m b e r o f A c c o u n t s b y F i s c a l Y e a r
A s o f J u l y 3 1 , 2 0 1 3
1 1 9 , 9 9 2
F i s c a l Y e a r
C u s t o m e r A s s i s t a n c e S p e c i a l i s t s ( G A S ) r e s p o n d e d t o 1 3 5 c a l l s d u r i n g J u l y . T h e G A S t e a m
r e c e i v e d 7 3 c a l l s t o a s s i s t d i s a b l e d v e h i c l e s , 1 8 c a l l s t o r e m o v e d e b r i s a n d c o n d u c t e d 3 5 a s s i s t s
o r t r a f f i c b r e a k s . T h e G A S p r o v i d e d a s s i s t a n c e t o 7 a c c i d e n t s i n t h e E x p r e s s L a n e s a n d 2
a c c i d e n t s i n t h e g e n e r a l - p u r p o s e l a n e s .
6
Financial Highlights
91 Express Lanes
Operating Statement
Operating expenses:
Contracted services
Administrative fee
Other professional services
Credit card processing fees
Toll road account servicing
Other insurance expense
Toll road maintenance supply repairs
Patrol services
Building equipment repairs and maint
Other services
Utilities
Office expense
Bad debt expense
Miscellaneous (Z)
Leases
Total operating expenses
De reciation and amortization (3J
loss
Nonoperating revenues (expenses):
Interest income
Investment gain on derivative instrument
Interest expense
Other
Transfers in
Transfers out
Net income loss
769,619.16
163,855.67
54,425.35
67,827.65
26,867.75
5,616.70
33,382.96
820.00
230.02
18,481.54
28,710.71
1, 169,837.51
319,120.20
1,909,436.35
(1,229.18)
(433,372.67)
434,601.85
$ 1,474,834.50
658,070.00 (111,549.16)
180,546.00 16,690.33
435,552.00 435,552.00
87,465.00 33,039.65
39,568.00 (28,259.65)
20,825.00 (6,042.75)
19, 159.00 13,542.30
35,402.00 2,019.04
9,240.00 9,240.00
833.00 13.00
1,666.00 1,666.00
2,874.00 2,643.98
15,675.00 (2,806.54)
34,570.00 5,859.29
1,541,445.00 371,607.49
319,120.20
1,737,267.00 172, 169.35
43,640.00 (44,869.18)
(718,484.00) 285,111.33
674,844.00 240,242.15
$ 1,062,423.00 $ 412,411.50
'Actual amounts are accounted for on the accrual basis of accounting in an enterprise fund. Budget amounts are
accounted for on a modified accrual basis of accounting.
'Miscellaneous expenses include: Bond Insurance Costs, Bank Se!"'-ice Charge, Transponder Materials.
'Depreciation and amortization are not budgeted ltems.
•
(17.0)
9.2
100.0
37.8
(71.4)
(29.0)
70.7
5.7
100.0
1.6
100.0
92.0
NIA • (17.9)
16.9
24.1
9.9
(102.8)
NIA
39.7
NIA
35.6
NIA
NIA
38.8
• 7
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A T T A C H M E N T B
m
O C T A O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
S t a t u s R e p o r t
A u g u s t 2 0 1 3
A s o f A u g u s t 3 1 , 2 0 1 3
"
"
"
O p e r a t i o n s O v e r v i e w
T r a f f i c a n d R e v e n u e S t a t i s t i c s
T o t a l t r a f f i c v o l u m e o n t h e 9 1 E x p r e s s L a n e s f o r A u g u s t 2 0 1 3 w a s 1 , 1 0 9 , 4 4 0 . T h i s r e p r e s e n t s a
d a i l y a v e r a g e o f 3 5 , 7 8 8 . T h i s i s a 1 . 4 % i n c r e a s e i n t o t a l t r a f f i c v o l u m e f r o m t h e s a m e p e r i o d l a s t
y e a r w h e n t r a f f i c l e v e l s t o t a l e d 1 , 0 9 4 , 2 5 4 . P o t e n t i a l t o l l r e v e n u e f o r t h e m o n t h w a s $ 3 , 2 4 8 , 3 9 3
w h i c h r e p r e s e n t s a n i n c r e a s e o f 1 . 8 % f r o m t h e p r i o r y e a r ' s t o t a l o f $ 3 , 1 9 0 , 7 2 8 . C a r p o o l
p e r c e n t a g e f o r t h e m o n t h w a s 2 4 . 4 5 % a s c o m p a r e d t o t h e p r e v i o u s y e a r ' s r a t e o f 2 4 . 0 1 % .
M o n t h - t o - d a t e t r a f f i c a n d r e v e n u e d a t a a r e s u m m a r i z e d i n t h e t a b l e b e l o w . T h e f o l l o w i n g t r i p a n d
r e v e n u e s t a t i s t i c s t a b l e s r e p r e s e n t a l l t r i p s t a k e n o n t h e 9 1 E x p r e s s L a n e s a n d a s s o c i a t e d
p o t e n t i a l r e v e n u e f o r t h e m o n t h o f A u g u s t 2 0 1 3 .
C u r r e n t M o n t h - t o - D a t e ( M T D ) a s o f A u g u s t 3 1 , 2 0 1 3
( F i s c a l Y e a r ( F Y ) 2 0 1 3 - 1 4 d a t a i s f o r t h e c o r r e s p o n d i n g m o n t h i n t h a t f i s c a l y e a r )
A v e r a g e F u l l T o l l L a n e s $ 3 . 7 9 $ 3 . 7 5 $ 0 . 0 4
A v e r a e 3 + L a n e s $ 0 . 2 8 $ 0 . 2 8 $ 0 . 0 0
A v e r a g e R e v e n u e P e r T r i p $ 2 . 9 3 $ 2 . 8 9 $ 0 . 0 4
1 . 1 % $ 3 . 7 4 1 . 3 %
0 . 0 % $ 0 . 2 9 ( 3 . 4 % )
1 . 4 % $ 2 . 9 2 0 . 3 %
2
The 2014 fiscal year-to-date (YTD) traffic volume is 2.1% higher than the same period last year .
The 2014 fiscal year-to-date revenue is 2.8% higher than for the same period last year. Year-io-
date average revenue per-trip is $2.86.
Fiscal year-to-date traffic and revenue data are summarized in the table below. The following trip
and revenue statistics tables represent all trips taken on the 91 Express Lanes and associated
potential revenue for the months of July 2013 through August 2013.
FY 2013-14 to Date as of August 31, 2013
(FY2013-14 data is for the period July 1, 2013 through June 30, 2014; FY 2012-13 data is for the corresponding period in that fiscal year.)
Average Full Toll Lanes $3.74 $3.74 $0.00 0.0% $3.70 1.1%
Average 3+ Lanes $0.27 $0.27 $0.00 0.0% $0.28 (3.6%)
Avera e Revenue Per Trip $2.86 $2.86 $0.00 0.0% $2.84 0.7%
·3
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T r a f f i c a n d R e v e n u e S u m m a r y
T h e c h a r t b e l o w r e f l e c t s t h e t o t a l t r i p s b r e a k d o w n b e t w e e n F u l l T o l l t r i p s a n d H O V 3 + t r i p s f o r
F Y 2 0 1 3 - 1 4 o n a m o n t h l y b a s i s .
F Y 2 0 1 3 - 1 4 T r a f f i c V o l u m e O v e r v i e w
1 , 4 0 0 , 0 0 0
1 , 2 2 5 , 0 0 0
1 , 0 5 0 , 0 0 0
. . 8 7 5 , 0 0 0
E
: I
~ 7 0 0 , 0 0 0
5 2 5 , 0 0 0
3 5 0 , 0 0 0
1 7 5 , 0 0 0
J u l - 1 3 A u g - 1 3 S e p - 1 3 O c t - 1 3 N o v - 1 3 D e c - 1 3 J a n - 1 4 F e b - 1 4 M a r - 1 4 A p r - 1 4 M a y - 1 4 J u n - 1 4
M o n t h
T h e c h a r t b e l o w r e f l e c t s t h e g r o s s p o t e n t i a l r e v e n u e b r e a k d o w n b e t w e e n F u l l T o l l t r i p s a n d
H O V 3 + t r i p s f o r F Y 2 0 1 3 - 1 4 o n a m o n t h l y b a s i s .
$ 3 , 3 0 0 , 0 0 0
$ 3 , 2 0 0 , 0 0 0
$ 3 , 1 0 0 , 0 0 0
$ 3 , 0 0 0 , 0 0 0
G >
: I $ 2 , 9 0 0 , 0 0 0 c
~
G . $ 2 , 8 0 0 , 0 0 0
$ 2 , 7 0 0 , 0 0 0
$ 2 , 6 0 0 , 0 0 0
$ 2 , 5 0 0 , 0 0 0
J u l - 1 3 A u g - 1 3 S e p - 1 3 O c t - 1 3 N o v - 1 3 D e c - 1 3 J a n - 1 4 F e b - 1 4 M a r - 1 4 A p r - 1 4 M a y - 1 4 J u n - 1 4
M o n t h
" F u l l T o l l L a n e s 8 3 + L a n e s
4
Peak traffic hours in the eastbound direction reached or exceeded 90% or more of defined
capacity eleven times during the month of August 2013. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 64% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time
1400 • 1500
1500. 1600
1600 -1700
1700 · 1800
1800 -1900
1900. 2000
1400. 1500 $4.40
1500. 1600 $4.75
1600. 1700 $4.55
1700. 1800 $4.85
1800. 1900 $4.75
1900. 2000 $3.35
300 1,612 47% $4.40 297 1,624 48% $4.40 286
535 2,556 75% $3.70 544 2,756 81% $3.95 530
518 2,991 88% ~~llJO;f~ w.4: $100 511
515 2,976 88% $5.25 485 2,985 88% ( • .... :$&_···· .... ~ 4!J!
485 2,525 74% $3.60 483 2,390 70% $3. 60 495
316 1,565 46% $3.35 397 1,943 57% $3.35 376
Friday 08102/13
;4'!£t >18/ r
$3.10 475 2, 630 77%
562 84% $9.55 618 2,798 82%
566 2,831 83% $9.35 544 2, 948 87%
•·"lii~f9~. $s.oo 474 2.m 82%
471 2,4n 73% $5.65 523 2,707 80%
443 1,943 57% $5.30 428 1,686 50%
1,627 48% $4.55 333 2,050 60% $3.10 472 2,725 80%
2,882 85% $4.45 573 3,008 88% $9.55 590 2,902 85%
2,950 87% s9:2o;,iFii7o.~ ~ 911% $9.35 491 2,680 79%
. 3;064 ~-~ $8.55 513 2,996 88% ~]!i1 ·t~oiio •""
2, 730 80% $4.40 552 3,028 89% $5.65 540 2, 779 82%
1,909 56% $4.85 413 1,989 59% $5.30 440 1,782 52%
Monday 08/12/13 Tuesday 08/13/13 Wednesday 08/14/13 Friday 08/16113
1400·1500 $4.40 297 1,671 49% $4.40 287 1,782 52% $4.40 302 1,767 52% $4.55 318 1,990 59% $3.10 431 2, 783 82%
1500 -1600 $4.75
1600. 1700 $4.55
1700 • 1800 $4.85
1800 · 1900 $4.75
1900. 2000 $3.35
PM Time
1400. 1500 $4.40
1500 · 1600 $4.75
1600-1700 $4.55
1700. 1800 $4.85
1800·1900 $4.75
1900. 2000 $3.35
PM Time
1400. 1500 $4.40
1500. 1600 $4.75
1600. 1700 $4.55
1700 • 1800 $4.85
1800-1900 $4.75
1900 . 2000 $3.35
542 2,674 79% $3.70 547 2,822 83% $3.95 519 2,874 85% $4.45 509 2,831 83% $9.55 592 2,942 87%
2,881 85% $9.35
3,21& $6.00
451 2,767 81%
446 2,881 85%
s32 3,02s 89% !$S:&f : Siif1: ~a~"lb% mo ·£51.s ,": 3,oae. '.'910i $9.20 485
431 2,921 86% $5.25 484 3,002 88% $6.50 477 2,927 86% ·jps.15114 ..
505 2,644 78% $3.GO ;'.~~;1·~('t63 ta% $3.60 457 2,624 77% $4.40 498 2,717 $5.65 466 2,312 68%
319 1,434 42% $3.35 321 1,513 45% $3.35 336 1,531 45% $4.85 349 1,643 $5.30 364 1,568 46%
306 49% $4.40 284 1,641 48% $4.40
502 2,593 76% $3. 70 527 2, 752 81% $3.95
483 2,948 87% $uo -3io$t -$7.00
402 2,634 77% $5.25 468 2,922 86% $6.50
433 2, 108 62% $3. 60 463 2,425 71% $3.60
301 1,290 38% $3.35 302 1,375 40% $3.35
308
563
517
483
499
337
1,807 53% $4.55
2,961 87% $4.45
2,977 88% $9.20
2,912 86% i.ss
2,590 76% $4.40
1,552 46% $4.85
08127113 Wednesday 08/28113
:i:·V'ol. Cap.· !Mee:> HOV
255 1,592 47% 1,641 48% $4.40 253 1,707 50% $4.55
504 2,454 72% 524 2,807 83% $3.95 521 2,948 87% $4.45
475 2,818 83% $5.80 507 2,964 87% $7.00 529 2,934 86% $9.20
425 2, 722 80% $5.25 467 2,988 88% $6.50 494 2,766 81% $8.55
393 2,032 60% $3.60 456 2,475 73% $3.60 477 2,978 88% $4.40
217 1,030 30% $3.35 275 1,371 40% $3.35 337 1,616 48% $4.85
292 2,026 60% $3.10
516 2,956 87% $9.55
502 2,831 83% $9.35
g ~?t,111. ;~~i $6.00
512 2,930 86% $5.65
357 1,593 47% $5.30
421
603
520
464
412
374
2.,789 82%
2,908 86%
2,841 84%
2,949 87%
2,210 65%
1,519 45%
08129113 Friday 08/30/13
. '?ili'vdt'· :•'.'
311 2, 101 62% $3.10 418 2,757 81%
546 3,019 89% $9.55 512 2,261 67%
517 3,019 89% $9.35 555 2,888 85%
501 3,021 89% .$6.00 425 2,555 75%
472 2,603 77% $5.65 429 1,988 58%
347 1,618 48% $5.30 351 1,373 40%
5
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W E S T B O U N D P E A K - H O U R V O L U M E S
A M T i m e
0 4 0 0 - 0 5 0 0
0 5 0 0 - 0 6 0 0
0 6 0 0 - 0 7 0 0
0 7 0 0 - 0 8 0 0
0 8 0 0 - 0 9 0 0
0 9 0 0 - 1 0 0 0
F r i d a y 0 8 1 0 2 1 1 3
~ 1 q v � ~ j , s c a t > .
$ 2 . 6 0 2 7 3 6 7 3 2 0 %
$ 4 . 0 5 4 8 8 1 , 6 4 7 4 8 %
$ 4 . 2 0 4 0 9 1 , 6 8 2 4 9 %
$ 4 . 7 5 3 7 1 1 , 6 0 1 4 7 %
$ 4 . 2 0 2 5 1 1 , 1 8 0 3 5 %
$ 3 . 5 0 2 3 6 1 , 0 5 5 3 1 %
0 4 0 0 - 0 5 0 0 $ 2 . 6 0 2 8 7 7 5 3 2 2 % $ 2 . 6 0 3 0 6 7 4 1 2 2 % $ 2 . 6 0 3 0 5 7 6 3 2 2 % $ 2 . 6 0 3 1 7 7 4 5 2 2 % $ 2 . 6 0 2 5 9 6 7 6 2 0 %
0 5 0 0 - 0 6 0 0 $ 4 . 2 0 5 5 4 1 , 7 6 5 5 2 % $ 4 . 2 0 5 3 3 1 , 8 2 4 5 4 % $ 4 . 2 0 5 3 6 1 , 7 9 0 5 3 % $ 4 . 2 0 5 8 6 1 , 9 2 5 5 7 % $ 4 . 0 5 5 0 7 1 , 6 5 2 4 9 %
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 4 6 5 1 , 9 5 5 5 8 % $ 4 . 4 0 5 1 3 2 , 1 9 2 6 4 % $ 4 . 4 0 4 6 6 1 , 9 3 7 5 7 % $ 4 . 4 0 4 7 1 2 , 0 6 7 6 1 % $ 4 . 2 0 4 1 0 1 , 7 5 8 5 2 %
0 7 0 0 - 0 8 0 0 $ 4 . 9 0 3 3 4 1 , 6 6 4 4 9 % $ 4 . 9 0 3 8 5 1 , 9 2 6 5 7 % $ 4 . 9 0 3 7 3 1 , 7 4 9 5 1 % $ 4 . 9 0 3 9 3 1 , 7 2 9 5 1 % $ 4 . 7 5 3 6 7 1 , 6 5 8 4 9 %
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 2 4 9 1 , 4 9 6 4 4 % $ 4 . 4 0 3 1 2 1 , 7 6 6 5 2 % $ 4 . 4 0 2 5 7 1 , 6 7 0 4 9 % $ 4 . 4 0 2 6 5 1 , 6 5 6 4 9 % $ 4 . 2 0 2 5 1 1 , 4 6 1 4 3 %
0 9 0 0 - 1 0 0 0 $ 3 . 5 0 2 5 2 1 , 2 7 7 3 8 % $ 3 . 5 0 2 7 6 1 , 7 3 6 5 1 % $ 3 . 5 0 2 7 6 1 , 5 7 4 4 6 % $ 3 . 5 0 2 6 6 1 , 6 7 9 4 9 % $ 3 . 5 0 2 6 0 1 , 2 3 5 3 6 %
M o n d a y 0 8 1 1 2 / 1 3 T u e s d a y 0 8 / 1 3 / 1 3 W e d n e s d a y 0 8 / 1 4 / 1 3 T h u r s d a y 0 8 1 1 5 1 1 3 F r i d a y 0 8 / 1 6 / 1 3
A M T i m e ~ ' l ' M Q i V O , l c d G ~ l ' . ' l f j ; e . , ; J i o v : : a : r ! i k 4 C a J i . P , O c e � . A o v V O ! . > . � S f } , P r i t t . : � - � . . : \ ; : v . . . r i r n . : " r . a n . . : , , ~ ~ , � P J i e e H O V ' W f ; . " . : � c a p .
0 4 0 0 - 0 5 0 0 $ 2 . 6 0 2 9 2 7 6 9 2 3 % $ 2 . 6 0 3 1 2 7 9 4 2 3 % $ 2 . 6 0 3 0 1 7 1 8 2 1 % $ 2 . 6 0 2 8 3 6 5 4 1 9 % $ 2 . 6 0 2 6 2 6 8 8 2 0 %
0 5 0 0 - 0 6 0 0 $ 4 . 2 0 5 5 8 1 , 8 0 4 5 3 % $ 4 . 2 0 5 7 2 1 , 7 1 5 5 0 % $ 4 . 2 0 5 3 9 1 , 6 3 9 4 8 % $ 4 . 2 0 5 7 5 1 , 7 4 2 5 1 % $ 4 . 0 5 5 3 2 1 , 7 0 1 5 0 %
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 4 5 3 1 , 9 0 4 5 6 % $ 4 . 4 0 4 9 9 2 , 1 0 0 6 2 % $ 4 . 4 0 4 6 9 2 , 0 1 4 5 9 % $ 4 . 4 0 4 6 9 1 , 9 7 9 5 8 % $ 4 . 2 0 4 2 2 1 , 7 9 3 5 3 %
0 7 0 0 - 0 8 0 0 $ 4 . 9 0 3 3 6 1 , 7 5 5 5 2 % $ 4 . 9 0 3 7 6 1 , 7 9 1 5 3 % $ 4 . 9 0 3 6 8 1 , 7 8 4 5 2 % $ 4 . 9 0 3 5 0 1 , 7 7 8 5 2 % $ 4 . 7 5 3 0 3 1 , 5 6 6 4 6 %
0 8 0 0 . 0 9 0 0 $ 4 . 4 0 2 4 3 1 , 5 1 8 4 5 % $ 4 . 4 0 2 7 6 1 , 7 4 3 5 1 % $ 4 . 4 0 2 5 9 1 , 6 5 2 4 9 % $ 4 . 4 0 2 6 6 1 , 7 5 9 5 2 % $ 4 . 2 0 2 2 0 1 , 2 2 7 3 6 %
0 9 0 0 - 1 0 0 0 $ 3 . 5 0 2 3 0 1 , 4 0 9 4 1 % $ 3 . 5 0 2 0 6 1 , 3 2 1 3 9 % $ 3 . 5 0 2 0 7 1 , 4 5 1 4 3 % $ 3 . 5 0 2 0 8 1 , 3 8 4 4 1 % $ 3 . 5 0 1 9 0 1 , 1 1 5 3 3 %
M o n d a y 0 8 1 1 9 / 1 3 ~ s d a y 0 8 1 2 0 / 1 3 W e d n e s d a y 0 8 1 2 1 / 1 3 T h u r s d a y 0 8 1 2 2 1 1 3 F r i d a y 0 8 1 2 3 / 1 3
A M T i m e f i r i c i i " : " v t i i . c ~ . t w : w o v l f i t i ! ! : : < ; a p . P r i c e l i l l \ h . V o l . C a p . P r l ' e e w � v d ! w f � . ~ P r i c e H O V V o l , C a j l ;
0 4 0 0 - 0 5 0 0 $ 2 . 6 0 3 0 0 8 2 3 2 4 % $ 2 . 6 0 3 2 2 7 7 9 2 3 % $ 2 . 6 0 2 9 2 7 4 3 2 2 % $ 2 . 6 0 2 8 6 7 2 5 2 1 % $ 2 . 6 0 2 6 6 6 9 8 2 1 %
0 5 0 0 - 0 6 0 0 $ 4 . 2 0 5 5 4 1 , 8 5 6 5 5 % $ 4 . 2 0 5 7 5 1 , 8 3 6 5 4 % $ 4 . 2 0 5 5 9 1 , 7 8 9 5 3 % $ 4 . 2 0 5 9 1 1 , 8 6 6 5 5 % $ 4 . 0 5 5 4 9 1 , 7 3 9 5 1 %
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 4 3 5 1 , 9 5 1 5 7 % $ 4 . 4 0 4 7 9 2 , 0 5 5 6 0 % $ 4 . 4 0 4 8 7 2 , 0 0 9 5 9 % $ 4 . 4 0 4 6 1 1 , 7 8 5 5 3 % $ 4 . 2 0 4 5 2 1 , 8 6 6 5 5 %
0 7 0 0 - 0 8 0 0 $ 4 . 9 0 3 3 5 1 , 7 4 0 5 1 % $ 4 . 9 0 3 6 4 1 , 7 9 4 5 3 % $ 4 . 9 0 3 5 3 1 , 7 8 5 5 3 % $ 4 . 9 0 4 1 1 1 , 8 7 8 5 5 % $ 4 . 7 5 3 5 3 1 , 6 9 5 5 0 %
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 2 4 6 1 , 5 9 6 4 7 % $ 4 . 4 0 2 5 2 1 , 5 9 7 4 7 % $ 4 . 4 0 2 3 7 1 , 7 1 3 5 0 % $ 4 . 4 0 2 6 1 1 , 7 5 5 5 2 % $ 4 . 2 0 2 2 6 1 , 3 3 3 3 9 %
0 9 0 0 - 1 0 0 0 $ 3 . 5 0 2 3 9 1 , 4 3 9 4 2 % $ 3 . 5 0 2 4 3 1 , 4 4 1 4 2 % $ 3 . 5 0 2 2 4 1 , 5 7 9 4 6 % $ 3 . 5 0 2 2 5 1 , 7 8 6 5 3 % $ 3 . 5 0 2 0 0 1 , 0 7 7 3 2 %
M o n d a y 0 8 1 2 6 / 1 3 W e d n e s d a y 0 8 1 2 8 / 1 3 T h u r s d a y 0 8 1 2 9 1 1 3
A M T i m e , i l ; t ~ ' , i . f @ ' . K � . 1 ~ o i , " i t ~ . , , " ; - ~ 1 A J : l i ' ! ;
0 4 0 0 - 0 5 0 0 $ 2 . 6 0 2 8 3 7 4 6 2 2 % $ 2 . 6 0 3 1 0 7 7 7 2 3 % $ 2 . 6 0 3 1 2 8 0 1 2 4 % $ 2 6 0 2 2 % $ 2 . 6 0 2 6 2 6 5 2 1 9 %
0 5 0 0 . 0 6 0 0 $ 4 . 2 0 5 5 9 1 , 8 6 0 5 5 % $ 4 . 2 0 5 7 7 1 , 8 3 1 5 4 % $ 4 . 2 0 5 7 8 1 , 8 4 0 5 4 % $ 4 . 2 0 6 1 3 1 , 8 8 3 5 5 % $ 4 . 2 0 5 1 8 1 , 6 4 2 4 8 %
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 4 5 9 1 , 9 2 8 5 7 % $ 4 . 4 0 5 1 3 1 , 9 9 1 5 9 % $ 4 . 4 0 5 0 3 2 , 0 5 1 6 0 % $ 4 . 4 0 4 9 6 2 , 0 7 3 6 1 % $ 4 . 4 0 4 6 0 1 , 7 7 6 5 2 %
0 7 0 0 - 0 8 0 0 $ 4 . 9 0 3 6 7 1 , 8 1 4 5 3 % $ 4 . 9 0 3 9 9 1 , 8 8 9 5 6 % $ 4 . 9 0 3 9 6 1 , 9 2 6 5 7 % $ 4 . 9 0 4 0 2 1 , 9 2 0 5 6 % $ 4 . 7 5 3 5 3 1 , 6 3 3 4 8 %
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 2 1 4 1 , 6 4 3 4 8 % $ 4 . 4 0 2 4 1 1 , 7 2 9 5 1 % $ 4 . 4 0 2 6 4 1 , 8 2 9 5 4 % $ 4 . 9 0 2 3 7 1 , 6 9 1 5 0 % $ 4 . 5 5 1 9 0 1 , 2 3 9 3 6 %
0 9 0 0 - 1 0 0 0 $ 3 . 5 0 1 8 9 1 , 4 5 2 4 3 % $ 3 . 5 0 1 8 6 1 , 5 5 6 4 6 % $ 3 . 5 0 2 2 7 1 , 9 2 3 5 7 % $ 4 . 9 0 2 0 0 1 , 4 3 3 4 2 % $ 3 . 9 5 1 8 0 1 , 0 8 1 3 2 %
6
Transponder Distribution Status
~ugust-13 I July-13 j FY 2013-14 TRANSPONDER DISTRIBUTION --.-:---··r' --,--~-,-------
s ! % of Total I Tags I "v' 'v.al l Average To-Date
Issued . ... l To New Accounts 959 28.1% 917 27.1%
" ..
Ad_d~ional Tags to Existing Acc_ounts 573 630 18.6% ..
Replacerrent Transponders I 1,876 . . , . . . . .
Total Issued I 3,408
Returned
Account aosures I 502 580
A_ccounts Downsizing ' 243 252 I
""·
Defe~tive Transponders 1,520 .... 1.592
Total Returned 2,265 2,424
At the end of August 2013, the 91 Express Lanes had 113,4 76 active customer accounts, with
169,416 transponders assigned to those accounts.
125,000
120,000
115,000
110,000
105,000
100,000
95,000
Number of Accounts by Fiscal Year
As of August 31, 2013
119,992
Fiscal Year
7
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O p e r a t i o n a l H i g h l i g h t s
O n - r o a d O p e r a t i o n s
C u s t o m e r A s s i s t a n c e S p e c i a l i s t s ( C A S ) r e s p o n d e d t o 1 0 6 c a l l s d u r i n g A u g u s t . T h e C A S t e a m
r e c e i v e d 6 5 c a l l s t o a s s i s t d i s a b l e d v e h i c l e s , 8 c a l l s t o r e m o v e d e b r i s a n d c o n d u c t e d 2 5 a s s i s t s o r
t r a f f i c b r e a k s . T h e C A S p r o v i d e d a s s i s t a n c e t o 5 a c c i d e n t s i n t h e E x p r e s s L a n e s a n d 3 a c c i d e n t s
i n t h e g e n e r a l - p u r p o s e l a n e s .
8
Financial Highlights
91 Express Lanes
Operating Statement
Operating expenses:
Contracted services
Administrative fee
Other professional services
Credit card processing fees
Toll road account servicing
Other insurance expense
Toll road maintenance supply repairs
Patrol services
Building equipment repairs and maint
Other services
Utilities
Office expense
Bad debt expense
Bond issuance cost
Miscellaneous <2 l
Leases
Total operating expenses
De reciation and amortization C3l
Nonoperating revenues (expenses):
Interest income
Investment gain on derivative instrument
Interest expense
Other
Total nono
Transfers in
Transfers out
loss
1,384,783.32
361,271.84
41,797.17
124,352.00
108,143.97
53,735.50
36,059.80
66,765.92
52,872.49
1,640.00
3, 172.93
4,082.54
506,766.77
8,767.92
37,632.90
2, 791,845.07
665,379.87
3,657,457.69
68,153.30
(898,437.61)
830,284.31
1,316, 140.00 (68,643.32)
361,092.00 (179.84)
668,598.00 626,800.83
174,930.00 50,578.00
79, 136.00 (29,007.97)
41,650.00 (12,085.50)
38,318.00 2,258.20
70,804.00 4,038.08
62,436.00 9,563.51
1,666.00 26.00
3,332.00 159.07
5,748.00 1,665.46
23,714.00 (483,052.77)
7,684.00 (1,083.92)
69, 140.00 31,507.10
2,924,388.00 132,542.93
665,379.87
3,597,577.00 59,880.69
124,029.00 (55,875.70)
( 1,364, 776.00) 466,338.39
1,240,747.00 410,462.69
%
5.5
29.1
9.1
(5.2)
(0.0)
93.7
28.9
(36.7)
(29.0)
5.9
5.7
15.3
1.6
4.8
29.0
NIA
(2,037.0)
(14.1)
45.6
4.5
NIA
1.7
(45.1)
NIA
34.2
NIA
33.1
NIA
NIA
Net income loss $ 2,827, 173.38 $ 2,356,830.00 $ 470,343.38 20.0
'Actual amounts are accounted for on the accrual basis of accounting in an enterprise fund. Budget amounts are
accounted for on a modified accrual basis of accounting.
'Miscellaneous expenses include: Bond Insurance Costs. Bank Service Charge, Transponder Materials.
'Depreciation and amortization are not budgeted items.
Capital Asset Activity
During the two months ending August 31, 2013, capital asset activities included $66,438 for the
purchase of transponders.
9
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A T T A C H M E N T C
m
O C T A O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
s
S t a t u s R e p o r t
S e p t e m b e r 2 0 1 3
A s o f S e p t e m b e r 3 0 , 2 0 1 3
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O p e r a t i o n s O v e r v i e w
T r a f f i c a n d R e v e n u e S t a t i s t i c s
T o t a l t r a f f i c v o l u m e o n t h e 9 1 E x p r e s s L a n e s f o r S e p t e m b e r 2 0 1 3 w a s 9 8 7 , 8 6 0 . T h i s r e p r e s e n t s
a d a i l y a v e r a g e o f 3 2 , 9 2 9 . T h i s i s a 1 . 8 % i n c r e a s e i n t o t a l t r a f f i c v o l u m e f r o m t h e s a m e p e r i o d
l a s t y e a r w h e n t r a f f i c l e v e l s t o t a l e d 9 7 0 , 2 5 4 . P o t e n t i a l t o l l r e v e n u e f o r t h e m o n t h w a s $ 2 , 9 1 3 , 8 8 7
w h i c h r e p r e s e n t s a n i n c r e a s e o f 4 . 8 % f r o m t h e p r i o r y e a r ' s t o t a l o f $ 2 , 7 8 0 , 9 0 6 . C a r p o o l
p e r c e n t a g e f o r t h e m o n t h w a s 2 3 . 4 9 % a s c o m p a r e d t o t h e p r e v i o u s y e a r ' s r a t e o f 2 3 . 9 5 % .
M o n t h - t o - d a t e t r a f f i c a n d r e v e n u e d a t a a r e s u m m a r i z e d i n t h e t a b l e b e l o w . T h e f o l l o w i n g t r i p a n d
r e v e n u e s t a t i s t i c s t a b l e s r e p r e s e n t a l l t r i p s t a k e n o n t h e 9 1 E x p r e s s L a n e s a n d a s s o c i a t e d
p o t e n t i a l r e v e n u e f o r t h e m o n t h o f S e p t e m b e r 2 0 1 3 .
C u r r e n t M o n t h - t o - D a t e ( M T D ) a s o f S e p t e m b e r 3 0 , 2 0 1 3
( F i s c a l Y e a r ( F Y ) 2 0 1 3 - 1 4 d a t a i s f o r t h e c o r r e s p o n d i n g m o n t h i n t h a t f i s c a l y e a r )
A v e r a g e 3 + L a n e s
A v e r a g e R e v e n u e P e r T r i p $ 2 . 9 5 $ 2 . 9 8 ( $ 0 . 0 3 ) ( 1 . 0 % )
$ 0 . 2 6 7 . 7 %
$ 2 . 8 7 2 . 8 %
2
The 2014 fiscal year-to-date (YTD) traffic volume is 2% higher than the same period last year .
The 2014 fiscal year-to-date revenue is 3.4% higher than for the same period last year. Year-to-
date average revenue per-trip is $2.89.
Fiscal year-to-date traffic and revenue data are summarized in the table below. The following trip
and revenue statistics tables represent all trips taken on the 91 Express Lanes and associated
potential revenue for the months of July 2013 through September 2013.
FY 2013-14 to Date as of September 30, 2013
(FY 2013-14 data is for the period July 1, 2013 through June 30, 2014; FY 2012-13 data is for the corresponding period in that fiscal year.)
Average Full Toll Lanes $3.75 $3.75 $0.00 0.0% $3.70 1.4%
Average 3+ Lanes $0.27 $0.28 ($0.01) (3.6%) $0.27 0.0%
Average Revenue Per Trip $2.89 $2.90 ($0.01) (0.3%) $2.85 1.4%
3
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T r a f f i c a n d R e v e n u e S u m m a r y
T h e c h a r t b e l o w r e f l e c t s t h e t o t a l t r i p s b r e a k d o w n b e t w e e n F u l l T o l l t r i p s a n d H O V 3 + t r i p s f o r
F Y 2 0 1 3 - 1 4 o n a m o n t h l y b a s i s .
F Y 2 0 1 3 - 1 4 T r a f f i c V o l u m e O v e r v i e w
1 , 4 0 0 , 0 0 0
1 , 2 2 5 , 0 0 0
1 , 0 5 0 , 0 0 0
G J 8 7 5 , 0 0 0
E
: : I ; g 7 0 0 , 0 0 0
5 2 5 , 0 0 0
3 5 0 , 0 0 0
1 7 5 , 0 0 0
J u l - 1 3 A u g - 1 3 S e p - 1 3 O c t - 1 3 N o v - 1 3 D e c - 1 3 J a n - 1 4 F e b - 1 4 M a r - 1 4 A p r - 1 4 M a y - 1 4 J u n - 1 4
M o n t h
I " F u l l T o l l L a n e s B 3 + L a n e s I
T h e c h a r t b e l o w r e f l e c t s t h e g r o s s p o t e n t i a l r e v e n u e b r e a k d o w n b e t w e e n F u l l T o l l t r i p s a n d
H O V 3 + t r i p s f o r F Y 2 0 1 3 - 1 4 o n a m o n t h l y b a s i s .
$ 3 , 3 0 0 , 0 0 0
F Y 2 0 1 3 - 1 4 R e v e n u e S u m m a r y
$ 3 , 2 0 0 , 0 0 0
$ 3 , 1 0 0 , 0 0 0
$ 3 , 0 0 0 , 0 0 0 . . = $ 2 , 9 0 0 , 0 0 0 c . . > ~ $ 2 , 8 0 0 , 0 0 0
$ 2 , 7 0 0 , 0 0 0
$ 2 , 6 0 0 , 0 0 0
$ 2 , 5 0 0 , 0 0 0
J u l - 1 3 A u g - 1 3 S e p - 1 3 O c t - 1 3 N o v - 1 3 D e c - 1 3 J a n - 1 4 F e b - 1 4 M a r - 1 4 A p r - 1 4 M a y - 1 4 J u n - 1 4
M o n t h
4
Peak traffic hours in the eastbound direction reached or exceeded 90% or more of defined
capacity five times during the month of September 2013. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 64% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
EASTBOUND WEEKDAY PEAK VOLUME:
Monday 09/02/13 Tuesday 09/03/13
1400 -1500 $3.85 250 637 19% $4.40 240 1,569 46% $4.40 267
1500 -1600 $3.85
1600 -1700 $3.85
1700 -1800 $3.85
1800 -1900 $3.85
1900 -2000 $3. 85
PM Time
1400 -1500 $4.40
1500 -1600 $4.75
1600 -1700 $4.55
287
331
320
345
400
248
486
676
724
709
748
775
1,484
2,515
475 2,821
20% $3.70
21% $5.80
21% $5.25
22% $3.60
23% $3.35
44% $4.40
74%
83%
$3.70
$5.80
487 2,633 77% $3.95
480 2,857 84% $7.00
403 2, 735 80% $6.50
427 2,360 69% $3.60
288 1,303 38% $3.35
246 1,605
516 2,597
502 3,023
47% $4.40
76% $3.95
89% $7.00
1700 -1800 $4.85 409 2,657 78% $5.25 464 2,916 86% $6.50
1800 -1900 $4.75 461 2,054 60% $3.60 464 2,462 72% $3.60
1900 -2000 $3.35 236 1,025 30% $3.35 312 1,352 40% $3.35
Monday 09/16/13 Tuesday
PM Time ;,¥ot;:-;tap, . Price ;!~oitjlf
1400-1500 $4.40 248 1,523 45% $4.40 265 1,679
1500-1600 $4.75 480 2,454 72% $3.70
1600-1700 $4.55 442 2,805 83% $5.80
1700 -1800 $4.85 438 2,682 79% $5.25
1800-1900 $4.75 407 1,905 56% $3.60
1900 -2000 $3.35 298 1,327 39% $3.35
Monday 09/23/13
PM Time , ,,\>ffOf!~:'.:tOkiiM; ,,;,~*' ~,,
1400 -1500 $4.40 228 1,536
1500 -1600 $4.75
1600-1700 $4.55
1700 -1800 $4.85
1800-1900 $4.75
1900 -2000 $3.35
PMTime ~
488 2,551
453 2,905
437 2,722
440 2, 117
253 1, 102
1400 -1500 $4.40 238
1500 -1600 $4. 75 507
1600 -1700 $4.55 434
1700 -1800 $4.85 447
1800-1900 $4.75 417
1900 -2000 $3. 35 252
45% $4.40
75% $3.70
85% $5.80
80% $5.25
62% $3.60
32% $3.35
514 2,560 75% $3.95
475 2,892 85% $1jlo
463 2, 997 88%
486 2,516 74% $3.60
335 1,431 42% $3.35
224
533
479
483
442
266
1,661 49%
2,698 79% $3.95
2,866 84% $7.00
2,918 86% $6.50
2,320 68% $3.60
1,319 39% $3.35
480
507
421
416
336
253
502
575
497
449
350
264
568
552
496
493
321
51% $4.55 283 1,863 55% $3.10 405 2,723 80%
2,742 81% $4.45
2,905 85% $9.20
2,845 84% $8.55
2,503 74% $4.40
1,498 44% $4.85
505 2,893 85% $9.55
518 2,897 85% $9.35
447 2,849 84% $6.00
462 2,500 74% $5.65
310 1.557 46% $5.30
622 2, 822 83%
~ir .i.bl . 90%
446 2,951 87%
399 2, 159 64%
369 1,404 41%
1,603 47% $4.55 286 1,870 55% $3.10 380 2, 714 80%
2,624 77% $4.45 517 2,938 86% $9.55 622 2,896 85%
2,982 88% $9.20
2,968 87% $8.55
2,506 74% $4.40
1,523 45% $4.85
507 2,980 88% $9.35
473 2,950 87% $6.00
470 2,627 77% $5.65
340 1,621 48% $5.30
490 2, 792 82%
511 3,032 89%
441 2,363 70%
381 1,423 42%
Thursday 09/19/13 Friday 09/20113
./:::;U . VOi. ~; 'Prii .. , W: -
1,743 51% $4.55
2,920 86% $4.45
3, 039 89% $9.20
2,997 88% $8.55
2,947 87% $4.40
1,627 48% $4.85
243 1,825 54% $3.10 385 2,804 82%
531 2,985 88% !Je.55 . 666 .
531 2,947 87% iij~5;:iftJ529
478 2,962 87% $8.00 474 2,899 85%
519 2,795 82% $5.65
341 1,n? 51% $5.30
250 1,794
536 2,879
523 2,986
496 3,009
489 2,659
345 1,551
53% $3.10
85% $9.55
88% $9.35
89% $6.00
78% $5.65
46% $5.30
482 2,322 68%
426 1,641 48%
415 2,876 85%
599 2,943 87%
517 3,019 89%
481 2,859 84%
415 2,297 68%
382 1,597 47%
5
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W E S T B O U N D P E A K - H O U R V O L U M E S
M o n d a y 0 9 / 0 2 1 1 3 T u e s d a y
A M T i m e . i i t f e > V � J t t i " 1 ~ ' C a p . " P r i ' q 4 ~ �
0 4 0 0 . 0 5 0 0 $ 1 . 4 0 2 3 5 8 2 % $ 2 . 6 0
0 5 0 0 . 0 6 0 0 $ 1 . 4 0 4 4 1 1 1 3 % $ 4 . 2 0
0 6 0 0 . 0 7 0 0 $ 2 . 2 0 3 9 1 1 1 3 % $ 4 . 4 0
0 7 0 0 . 0 8 0 0 $ 2 . 2 0 8 2 1 8 7 6 % $ 4 . 9 0
0 8 0 0 . 0 9 0 0 $ 2 . 2 0 1 5 4 3 2 5 1 0 % $ 4 . 4 0
0 9 0 0 . 1 0 0 0 $ 3 . 2 5 2 5 7 6 0 1 1 8 % $ 3 . 5 0
M o n d a y 0 9 / 0 9 / 1 3
0 4 0 0 . 0 5 0 0 $ 2 . 6 0 2 8 2 7 7 8 $ 2 . 6 0
0 5 0 0 . 0 6 0 0 $ 4 . 2 0 5 4 9 1 , 8 2 9 5 4 % $ 4 . 2 0
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 5 0 6 2 , 0 5 2 6 0 % $ 4 . 4 0
0 7 0 0 . 0 8 0 0 $ 4 . 9 0 4 0 8 2 , 0 9 2 6 2 % $ 4 . 9 0
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 2 4 1 1 , 7 9 6 5 3 % $ 4 . 4 0
0 9 0 0 - 1 0 0 0 $ 3 . 5 0 1 5 2 1 , 3 6 3 4 0 % $ 3 . 5 0
2 8 9
5 6 6
5 0 8
3 9 5
2 4 6
1 8 3
3 0 6
5 3 3
4 7 6
4 5 9
2 3 9
1 6 5
0 9 / 0 3 / 1 3
y a W F > . - e i ! l i ; :
7 8 1 2 3 %
1 , 8 5 4 5 5 %
2 , 0 1 3 5 9 %
1 , 9 4 5 5 7 %
1 , 7 4 5 5 1 %
1 , 6 9 7 5 0 %
7 6 9 2 3 %
1 , 5 8 1 4 7 %
1 , 9 9 1 5 9 %
2 , 2 0 5 6 5 %
1 , 7 6 1 5 2 %
1 , 6 6 7 4 9 %
W e d n e s d a y
b . : \ : \ : , i . ! i t f n v '
$ 2 . 6 0
$ 4 . 2 0
$ 4 . 4 0
$ 4 . 9 0
$ 4 . 4 0
$ 3 . 5 0
$ 2 . 6 0
$ 4 . 2 0
$ 4 . 4 0
$ 4 . 9 0
$ 4 . 4 0
$ 3 . 5 0
2 8 2
5 8 6
5 1 7
4 3 3
2 0 7
1 4 9
3 2 2
6 0 3
5 0 4
4 4 2
2 2 7
1 7 1
0 9 / 0 4 1 1 3 T h u r s d a y 0 9 / 0 5 / 1 3 F r i d a y
. V l : > I . ~ , ; . J > r j c t ' : m : w ' V i i . � ~ p : \ P r l ~ ; ) i f i =
7 4 0 2 2 % $ 2 . 6 0 2 9 6 7 7 1 2 3 % $ 2 . 6 0
1 , 8 2 3 5 4 % $ 4 . 2 0 5 6 2 1 , 6 4 3 5 4 % $ 4 . 0 5
2 , 0 4 2 6 0 % $ 4 . 4 0 5 4 5 2 , 1 0 1 6 2 % $ 4 . 2 0
2 , 0 6 6 6 1 % $ 4 . 9 0 4 3 7 2 , 0 0 3 5 9 % $ 4 . 7 5
1 , 9 0 4 5 6 % $ 4 . 4 0 2 0 4 1 , 7 2 0 5 1 % $ 4 . 2 0
1 , 1 6 5 3 4 % $ 3 . 5 0 1 7 0 1 , 5 6 1 4 6 % $ 3 . 5 0
0 9 / 1 1 / 1 3 T h u r s d a y 0 9 / 1 2 1 1 3
V o l . . ' e a P : P r i c e ' ' i t i ' ' ' : r v b i r ' �
8 0 5 2 4 % $ 2 . 6 0 3 0 2 7 7 3 2 3 % $ 2 . 6 0
1 , 7 8 8 5 3 % $ 4 . 2 0 6 1 0 1 , 8 8 8 5 6 % $ 4 . 0 5
2 , 0 5 1 6 0 % $ 4 . 4 0 5 5 6 2 , 1 5 6 6 3 % $ 4 . 2 0
2 , 1 1 5 6 2 % $ 4 . 9 0 4 2 8 1 , 9 9 6 5 9 % $ 4 . 7 5
1 , 7 1 9 5 1 % $ 4 . 4 0 2 6 5 1 , 7 9 9 5 3 % $ 4 . 2 0
1 , 3 8 7 4 1 % $ 3 . 5 0 1 5 5 1 , 4 7 8 4 3 % $ 3 . 5 0
2 8 3
5 4 4
5 0 0
4 3 4
2 2 2
1 4 6
2 6 9
5 3 5
4 9 7
3 8 4
2 2 1
1 0 9
0 9 / 1 7 / 1 3 W e d n e s d a y 0 9 / 1 8 / 1 3 M o n d a y
A M T i m e . P t h i ~ P � � V c ! I ; G a p , : P f h i l \ . J : P ; i l b t : / ~ . P t h ; e '
0 4 0 0 - 0 5 0 0 $ 2 . 6 0 2 3 6
0 5 0 0 - 0 6 0 0 $ 4 . 2 0 4 6 9
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 5 2 9
0 7 0 0 . 0 8 0 0 $ 4 . 9 0 4 4 5
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 2 1 4
0 9 0 0 . 1 0 0 0 $ 3 . 5 0 1 9 1
M o n d a y
6 2 5
1 , 3 7 1
2 , 0 6 6
1 , 9 2 1
1 , 6 0 6
1 , 7 7 1
0 9 / 2 3 / 1 3
1 8 % $ 2 . 6 0
4 0 % $ 4 . 2 0
6 1 % $ 4 . 4 0
5 7 % $ 4 . 9 0
4 7 % $ 4 . 4 0
5 2 % $ 3 . 5 0
2 9 7
5 6 6
5 2 1
4 6 8
2 2 6
1 5 7
T u e s d a y
7 6 6 2 3 % $ 2 . 6 0 3 1 6 7 6 1 2 2 % $ 2 . 6 0
1 , 7 8 6 5 3 % $ 4 . 2 0 5 8 5 1 , 8 2 0 5 4 % $ 4 . 2 0
2 , 0 7 2 6 1 % $ 4 . 4 0 5 5 0 2 , 0 4 4 6 0 % $ 4 . 4 0
2 , 0 9 4 6 2 % $ 4 . 9 0 4 7 3 2 , 1 5 0 6 3 % $ 4 . 9 0
1 , 7 2 1 5 1 % $ 4 . 4 0 2 4 1 1 , 7 1 3 5 0 % $ 4 . 4 0
1 , 5 2 9 4 5 % $ 3 . 5 0 1 6 9 1 , 4 3 5 4 2 % $ 3 . 5 0
3 0 3
5 9 7
5 2 3
4 5 5
2 2 0
1 9 6
0 9 / 2 4 1 1 3 W e d n e s d a y 0 9 / 2 5 / 1 3 T h u r s d a y
7 5 9
1 , 8 6 9
2 , 0 9 3
2 , 0 8 5
1 , 7 3 7
1 , 6 5 7
0 9 / 2 6 / 1 3
A M T i m e m i e e # , P ' V o . I . " . " t t . . r ? , P f i c e , 1 - \ ( 1 ~ ~ " W Q I . ' . C a p . . i i . d e e { ! l O V W l L T ' f i i ~ C j p ~ ~ ; H O V ! ; V " . ' ~ , ,
0 4 0 0 - 0 5 0 0 $ 2 . 6 0 2 9 8 7 7 5 2 3 % $ 2 . 6 0 3 1 5 7 9 3 2 3 % $ 2 . 6 0 3 1 9 7 8 8 2 3 % $ 2 . 6 0 2 9 3 7 5 2
0 5 0 0 - 0 6 0 0 $ 4 . 2 0 5 5 1 1 , 8 0 7 5 3 % $ 4 . 2 0 5 5 9 1 , 7 8 5 5 3 % $ 4 . 2 0 6 0 4 1 , 7 9 2 5 3 % $ 4 . 2 0 5 7 4 1 , 7 5 0
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 5 5 6 2 , 1 7 7 6 4 % $ 4 . 4 0 5 5 4 2 , 0 8 0 6 1 % $ 4 . 4 0 5 5 8 2 , 0 9 9 6 2 % $ 4 . 4 0 5 5 0 2 , 0 7 5
0 7 0 0 - 0 8 0 0 $ 4 . 9 0 4 2 5 1 , 9 4 8 5 7 % $ 4 . 9 0 4 2 6 1 , 9 9 3 5 9 % $ 4 . 9 0 4 1 3 2 , 0 6 0 6 1 % $ 4 . 9 0 4 3 5 2 , 0 4 2
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 2 1 2 1 , 6 9 4 5 0 % $ 4 . 4 0 2 0 8 1 , 6 3 7 4 8 % $ 4 . 4 0 2 2 6 1 , 7 9 5 5 3 % $ 4 . 4 0 1 9 1 1 , 6 3 0
0 9 0 0 . 1 0 0 0 $ 3 . 5 0 1 4 2 1 , 3 0 2 3 8 % $ 3 . 5 0 1 6 9 1 , 4 3 4 4 2 % $ 3 . 5 0 1 5 9 1 , 4 6 1 4 3 % $ 3 . 5 0 . 1 8 1 1 , 3 1 6
M o n d a y 0 9 / 3 0 / 1 3
A M n m e P f h i l , l ( ~ V y ( B ' ; '
0 4 0 0 . 0 5 0 0 $ 2 . 6 0 2 8 1 7 7 5
0 5 0 0 . 0 6 0 0 $ 4 . 2 0 5 6 7 1 , 8 3 2
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 5 0 4 1 , 9 9 8
0 7 0 0 - 0 8 0 0 $ 4 . 9 0 4 4 3 1 , 9 1 7
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 1 9 6 1 , 6 2 7
0 9 0 0 . 1 0 0 0 $ 3 . 5 0 1 4 3 1 , 2 5 6
2 2 %
5 5 %
6 2 %
6 1 %
5 1 %
4 9 %
2 2 %
5 1 %
6 1 %
6 0 %
4 8 %
3 9 %
$ 2 . 6 0
$ 4 . 0 5
$ 4 . 2 0
$ 4 . 7 5
$ 4 . 2 0
$ 3 . 5 0
2 5 6
5 6 1
5 2 7
4 0 4
2 1 3
1 7 4
F r i d a y
" ' " '
$ 2 . 6 0 2 6 7
$ 4 . 0 5 5 1 6
$ 4 . 2 0 4 9 3
$ 4 . 7 5 4 0 3
$ 4 . 2 0 2 1 3
$ 3 . 5 0 1 7 4
0 9 / 0 6 / 1 3
" X : ; J - ~ ~ ~ . . l : l ' ; ' - ~
7 6 3 2 2 %
1 , 7 3 0 5 1 %
1 , 9 5 6 5 8 %
1 , 9 1 6 5 6 %
1 , 5 2 0 4 5 %
1 , 2 8 1 3 8 %
0 9 / 1 3 / 1 3
7 1 2 2 1 %
1 , 7 1 0 5 0 %
1 , 8 9 0 5 6 %
1 , 7 2 8 5 1 %
1 , 4 8 9 4 4 %
1 , 0 6 8 3 1 %
6 8 9
1 , 7 3 6
1 , 9 3 4
1 , 8 2 2
1 , 4 0 1
1 , 0 8 7
2 0 %
5 1 %
5 7 %
5 4 %
4 1 %
3 2 %
0 9 / 2 7 / 1 3 , , _ / " i l i > i : l ! ! l d '
7 2 2 2 1 %
1 , 6 1 4 4 7 %
1 , 8 4 3 5 4 %
1 , 7 7 1 5 2 %
1 , 3 9 4 4 1 %
1 , 0 8 9 3 2 %
6
Transponder Distribution Status
TRANSPONDER DISTRIBUTION ~~~pt~~ber-13 I --~ugust-13 ~· L--~~ ~ J Tags J % of TotaJITags I% of Tot~1J A~er~ge To-Date
Issued
To New Accounts
'"'N" '"h
Additional Tags to ExistinQ Ac.cou.nts
633
555
. Replacement Transponders
Returned
Account aosures
Accounts. Downsizing .
Defective Transponders . . . ' . . ..
Total Issued
.. 1,439 .
Total Returned 2,110
23.0%
20.2%
833
610
26.0%
At the end of September 2013, the 91 Express Lanes had 113,373 active customer accounts,
with 169,449 transponders assigned to those accounts.
125,000
120,000
115,000
110,000
105,000
100,000
95,000
~~ rY~ ~~ ,..,~ ,..,~ ~
Number of Accounts by Fiscal Year
As of September 30, 2013
119,992
<:) rS-~~ #~ ~ .....
r§'<o !¥".; r:-,,~ ,.._§> ~ i> '"C '"C
Fiscal Year
,, '.'.> I).
......... ~..,, ~~
~ ..... ~ ..... ~""' '"C '"C '"C
7
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O p e r a t i o n a l H i g h l i g h t s
O n - r o a d O p e r a t i o n s
C u s t o m e r A s s i s t a n c e S p e c i a l i s t s ( C A S ) r e s p o n d e d t o 7 7 c a l l s d u r i n g S e p t e m b e r . T h e C A S t e a m
r e c e i v e d 5 1 c a l l s t o a s s i s t d i s a b l e d v e h i c l e s , 2 c a l l s t o r e m o v e d e b r i s a n d c o n d u c t e d 1 5 a s s i s t s o r
t r a f f i c b r e a k s . T h e C A S p r o v i d e d a s s i s t a n c e t o 5 a c c i d e n t s i n t h e E x p r e s s L a n e s a n d 4 a c c i d e n t s
i n t h e g e n e r a l - p u r p o s e l a n e s .
8
Financial Highlights
91 Express Lanes
Operating Statement
Operating expenses:
Contracted services
Administrative fee
Other professional services
Credit card processing fees
Toll road account servicing
Other insurance expense
Toll road maintenance supply repairs
Patrol services
Building equipment repairs and maint
Other services
Utilities
Office expense
Bad debt expense
Bond Issuance Cost
Miscellaneous <2>
Leases
Total operating expenses
De reciation and amortization <3 >
Nonoperating revenues (expenses):
Interest income
Investment gain on derivative instrument
Interest expense
Other
Total nono
Transfers in
Transfers out
loss
YTD as of September 30, 2013
Actual <1> Budget <1>
2,008,405.92 1,974,210.00 (34, 195.92)
541,907.76 541,638.00 (269.76)
559,318.98 799,200.00 239,881.02
192,559.97 262,395.00 69,835.03
165,876.84 118,704.00 (47, 172.84)
80,603.25 62,475.00 (18, 128.25)
48,214.86 63,727.00 15,512.14
100,148.88 106,206.00 6,057.12
83,393.10 181,302.00 97,908.90
1,640.00 27,499.00 25,859.00
4,878.19 4,998.00 119.81
7,346.00 8,747.00 1,401.00
506,766.77 35,571.00 (471, 195.77)
12,444.94 16,941.00 4,496.06
57,258.90 103,710.00 46,451.10
4,370,764.36 4,307,323.00 (63,441.36)
982,945.93 982,945.93
5,087,399.02 5,467,414.00 380,014.98
113,852.66 203,992.00 (90, 139.34)
(1,446,341.35) ( 1,951,616.00) 505,274.65
1,332,488.69 1, 747,624.00 415,135.31
3,754,910.33 $ 3,719,790.00 $ 35,120.33
'Actual amounts are accounted for on the accrual basis of accounting in an enterprise fund. Budget amounts are
accounted for on a modified accrual basis of accounting.
2 Miscellaneous expenses include: Bond Insurance Costs, Bank SeNice Charge, Transponder Materials.
•Depreciation and amortization are not budgeted items.
Capital Asset Activity
3.5
24.8
(1.7)
(0.0)
30.0
26.6
(39.7)
(29.0)
24.3
5.7
54.0
94.0
2.4
16.0
NIA
(1,324.7)
26.5
44 . .§
(1.5)
NIA
7.0
(44.2)
NIA
25.9
NIA
23.8
NIA
NIA
0.9
During the three months ending September 30, 2013, capital asset activities included $127,701
for the purchase of transponders.
9
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A T T A C H M E N T D
m
O C T A O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
S t a t u s R e p o r t
O c t o b e r 2 0 1 3
A s o f O c t o b e r 3 1 , 2 0 1 3
"
"
"
O p e r a t i o n s O v e r v i e w
T r a f f i c a n d R e v e n u e S t a t i s t i c s
T o t a l t r a f f i c v o l u m e o n t h e 9 1 E x p r e s s L a n e s f o r O c t o b e r 2 0 1 3 w a s 1 , 0 6 1 , 8 0 6 . T h i s r e p r e s e n t s a
d a i l y a v e r a g e o f 3 4 , 2 5 2 . T h i s i s a 4 . 4 % i n c r e a s e i n t o t a l t r a f f i c v o l u m e f r o m t h e s a m e p e r i o d l a s t
y e a r w h e n t r a f f i c l e v e l s t o t a l e d 1 , 0 1 6 , 9 1 0 . P o t e n t i a l t o l l r e v e n u e f o r t h e m o n t h w a s $ 3 , 1 8 3 , 9 7 8
w h i c h r e p r e s e n t s a n i n c r e a s e o f 5 . 8 % f r o m t h e p r i o r y e a r ' s t o t a l o f $ 3 , 0 0 8 , 1 0 0 . C a r p o o l
p e r c e n t a g e f o r t h e m o n t h w a s 2 3 . 2 9 % a s c o m p a r e d t o t h e p r e v i o u s y e a r ' s r a t e o f 2 2 . 1 7 % .
M o n t h - t o - d a t e t r a f f i c a n d r e v e n u e d a t a a r e s u m m a r i z e d i n t h e t a b l e b e l o w . T h e f o l l o w i n g t r i p a n d
r e v e n u e s t a t i s t i c s t a b l e s r e p r e s e n t a l l t r i p s t a k e n o n t h e 9 1 E x p r e s s L a n e s a n d a s s o c i a t e d
p o t e n t i a l r e v e n u e f o r t h e m o n t h o f O c t o b e r 2 0 1 3 .
C u r r e n t M o n t h - t o - D a t e ( M T D ) a s o f O c t o b e r 3 1 , 2 0 1 3
( F i s c a l Y e a r ( F Y ) 2 0 1 3 - 1 4 d a t a i s f o r t h e c o r r e s p o n d i n g m o n t h i n t h a t f i s c a l y e a r )
A v e r a g e F u l l T o l l L a n e s $ 3 . 8 2 $ 3 . 7 9 $ 0 . 0 3
A v e r a g e 3 + L a n e s $ 0 . 3 0 $ 0 . 3 0 $ 0 . 0 0
A v e r a g e G r o s s R e v e n u e $ 3 . 0 0 $ 3 . 0 0 $ 0 . 0 0
0 . 8 % $ 3 . 7 1 3 . 0 %
0 . 0 % $ 0 . 3 0 0 . 0 %
0 . 0 % $ 2 . 9 6 1 . 4 %
2
The 2014 fiscal year-to-date (YTD) traffic volume is 2.6% higher than the same period last year .
The 2014 fiscal year-to-date revenue is 4% higher than for the same period last year. Year-to-
date average revenue per-trip is $2.92.
Fiscal year-to-date traffic and revenue data are summarized in the table below. The following trip
and revenue statistics tables represent all trips taken on the 91 Express Lanes and associated
potential revenue for the months of July 2013 through October 2013.
FY 2013-14 to Date as of October 31, 2013
(FY 2013-14 data is for the period July 1, 2013 through June 30, 2014; FY 2012-13 data is for the corresponding period in that fiscal year.)
Average Full Toll Lanes $3.77 $3.76 $0.01 0.3% $3.70 1.9%
Average 3+ Lanes $0.28 $0.28 $0.00 0.0% $0.28 0.0%
Average Gross Revenue $2.92 $2.92 $0.00 0.0% $2.88 1.4%
3
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T r a f f i c a n d R e v e n u e S u m m a r y
T h e c h a r t b e l o w r e f l e c t s t h e t o t a l t r i p s b r e a k d o w n b e t w e e n F u l l T o l l t r i p s a n d H O V 3 + t r i p s f o r
F Y 2 0 1 3 - 1 4 o n a m o n t h l y b a s i s .
F Y 2 0 1 3 - 1 4 T r a f f i c V o l u m e O v e r v i e w
1 , 4 0 0 , 0 0 0
1 , 2 2 5 , 0 0 0
1 , 0 5 0 , 0 0 0
Q l 8 7 5 , 0 0 0
E
: I
0 > 7 0 0 , 0 0 0
5 2 5 , 0 0 0
3 5 0 , 0 0 0
1 7 5 , 0 0 0
J u l - 1 3 A u g - 1 3 S e p - 1 3 O c t - 1 3 N o v - 1 3 D e c - 1 3 J a n - 1 4 F e b - 1 4 M a r - 1 4 A p r - 1 4 M a y - 1 4 J u n - 1 4
M o n t h
j & F u l l T o l l L a n e s 1 1 3 + L a n e s j
T h e c h a r t b e l o w r e f l e c t s t h e g r o s s p o t e n t i a l r e v e n u e b r e a k d o w n b e t w e e n F u l l T o l l t r i p s a n d
H O V 3 + t r i p s f o r F Y 2 0 1 3 - 1 4 o n a m o n t h l y b a s i s .
$ 3 , 3 0 0 , 0 0 0
F Y 2 0 1 3 - 1 4 R e v e n u e S u m m a r y
$ 3 , 2 0 0 , 0 0 0
$ 3 , 1 0 0 , 0 0 0
$ 3 , 0 0 0 , 0 0 0 . ,
" $ 2 , 9 0 0 , 0 0 0 c . ,
> & $ 2 , 8 0 0 , 0 0 0
$ 2 , 7 0 0 , 0 0 0
$ 2 , 6 0 0 , 0 0 0
$ 2 , 5 0 0 , 0 0 0
J u l - 1 3 A u g - 1 3 S e p - 1 3 O c t - 1 3 N o v - 1 3 D e c - 1 3 J a n - 1 4 F e b - 1 4 M a r - 1 4 A p r - 1 4 M a y - 1 4 J u n - 1 4
M o n t h
4
Peak traffic hours in the eastbound direction reached or exceeded 90% or more of defined
capacity nine times during the month of October 2013. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 71 % of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PMTime
1400 -1500
1500 -1600
1600·1700
1700 -1800
1800-1900
1900-2000
456
496
287
2,984
2,549
1,288
88%
75%
38%
$3.95 489 2,509 74% $4.45
'$f:J!ll;4~1:;, ~Q49 §0%' $9.20
$6.50 497 3,031 89% $8.55
$3.60 467 2,613 77% $4.40
$3.35 317 1,561 46% $4.85
287
542
522
449
517
333
10/03113
1,803
2,954
3,037
2,801
2,666
1,554
Friday 10104/13
.•. '%' ~'trlc&''Jiitk)v. fOt.ii.
53% $3.10 402 2,805
87% $9.$$ ~3 •••
89% $9.35 522 3,017
82% $6.00 474 2,922
78% $5.65 482 2,305
46% $5.30 425 1,693
89%
86%
68%
50%
10107/13 10108113 Wednesday 10/09113 Thursday 10/10/13 10111/13 1--P~M~n~,m~e~;;.;;;;.;i ....... llJl~'.:]~~!i!:Jill· :~.troi.~L=·=c~ap;~~tJ~~~J1~·21J·~~·l··f.f'rklt~·=·i•.~••ovi.:· ].•!IOl1··~·I·i·c~·!·~-tJ~~!ll: c.,.
1400-1500 $4.40 206 1,491 44% $4.40 217 1,600 47% $4.40 237 1,814 53% $4.55 240 1,878 55% $3.10 410 2,853 84%
1500 -1600 $4.75 511 2,486 73% $3.70 504 2,609 77% $3.95 455 2,684 79% $4.45 533 2,946 87% .. ~ ~t~filf:3,04f' 90%
1600 -1700 $4.55 457 2,909 86% $5.80 472 2,822 83% $7.00 470 2,751 81% $9.20 480 2,958 87% $9.35 510 2,917 86%
1700 · 1800 $4.85 428 2,788 82% $5.25 472 2,820 83% $6.50 404 2,657 78% $8.55 478 2,793 82% $6.00 480 3,018 89%
1800-1900 $4.75 476 2,270 67% $3.60 495 2,521 74% $3.60 446 2,622 77% $4.40 480 2,572 76% $5.65 479 2,434 72%
1900-2000 $3.35 258 1,098 32% $3.35 331 1,419 42% $3.35 405 2,501 74% $4.85 331 1,584 47% $5.30 385 1,565 46%
PMTime
1400 -1500 $4.40
1500 -1600 $4.75
1600 -1700 $4.55
1700 -1800 $4.85
1800 -1900 $4.75
1900 -2000 $3.35
PM lime
1400. 1500 $4.40
1500 -1600 $4.75
1600 -1700 $4.55
1700 -1800 $4.85
1800. 1900 $4.75
1900. 2000 $3.35
PMTime
1400 -1500 $4.40
1500-1600 $4.75
1600-1700 $4.55
1700-1800 $4.85
1800-1900 $4.75
10/14/13 Tuesday 10/15113 Wednesday 10/16113
239
501
1,481 44% $4.40 239 1,648 48% $4.40 278 1,802 53% $4.55 255
546
502
434
472
346
1,841
3,020
3,011
2,988
2,459
1,636
54% $3.10
89% $9.55
89% $9.35
88% $6.00
72% $5.65
48% $5.30
2,471 73% $3.70 509 2.734 80% $3.95 500 2,722 80% $4.45
420
392
421
223
2,725 80% $5.80
2,569 76% $5.25
1,909 56% $3.60
957 28% $3.35
231 1,589 47% $4.40
503 2,537 75% $3. 70
451 2,824 83% $5.80
439 2,716 80% $5.25
478 2, 169 64% $3.60
271 1,110 33% $3.35
221
460
431
406
423
10/28/13
1,491
2,430
2,764
2,552
1,893
44% $4.40
71% $3.70
81% $5.80
75% $5.25
56% $3.60
513 3,032 89% $7.00 477
481 2.947 87% $6.50 462
508 2.569 76% $3.60 478
305 1,421 42% $3.35 341
2,986 88% $9.20
3,020 89% $8.55
2,555 75% $4.40
1,455 43% $4.85
10/22113 Wednesday 10123113 Thursday 10124/13
249 1,646 48% $4.40 236
487 2,590 76% $3.95 495
493 3,000 88% $7.00 497
491 2,926 86% $6.50 .462
491 2,408 71% $3.60 498
297 1,338 39% $3.35 351
1,678 49% $4.55 284 1,944
2,677 79% $4.45 536 3,027 89%
3,016 89% $9.20 509 3,024 89%
2,966 87% $8.55 333 2,060 61% $6.00
2,603 77% *"~' .. t29 : 3,151[; .~ : $5.65
1,634 48% $4.85 363 1,739 51% $5.30
469
489
437
484
2,616 77% 469 2,713 80% .J~.· 31155
2,942 87% $7.00 506 2,956 87% $9.20
2,875 85% ~so ; @f ~i~ 91% .• $8.55
2,545 75% $3.60 464 2,641 78% $4.40
486 2,889
490 2,893
531 3,034
1900-2000 $3.35 244 985 29% $3.35 292 1,491 44% $3.35 367 1,708 50% $4.85 204 1,184
391
603
456
503
503
416
2,837
2,859
2,661
3,034
2,545
1,639
437 2,889
474 2,313
393 1,618
5
83%
84%
78%
89%
75%
48%
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W E S T B O U N D P E A K - H O U R V O L U M E S
A M T i m e
0 4 0 0 - 0 5 0 0
0 5 0 0 - 0 6 0 0
0 6 0 0 - 0 7 0 0
0 7 0 0 - 0 8 0 0
0 8 0 0 - 0 9 0 0
0 9 0 0 - 1 0 0 0
T h u r s d a y 1 0 1 0 3 1 1 3 F r i d a y 1 0 / 0 4 1 1 3
$ 2 . 6 0 3 1 3 7 7 6 2 3 % $ 2 . 6 0 2 . 8 0 7 0 7 2 1 %
6 0 9 1 , 8 5 9 5 5 % $ 4 . 2 0 5 8 2 5 3 % $ 4 . 2 0 5 9 3 1 , 8 5 8 5 5 % $ 4 . 0 5 5 2 7 1 , 5 7 0 4 6 %
5 2 2 2 . , 0 7 7 6 1 % $ 4 . 4 0 5 4 4 2 , 0 7 2 6 1 % $ 4 . 4 0 5 5 8 2 , 1 0 9 6 2 % $ 4 . 2 0 5 3 7 1 , 9 6 8 5 8 %
4 6 4 2 , 0 6 1 6 1 % $ 4 . 9 0 4 5 9 2 , 0 1 5 5 9 % $ 4 . 9 0 4 6 1 1 , 9 9 6 5 9 % $ 4 . 7 5 4 4 9 1 , 8 3 2 5 4 %
2 0 1 1 , 7 1 5 5 0 % $ 4 4 0 2 3 8 1 , 8 1 9 5 4 % $ 4 . 4 0 2 0 5 1 , 7 2 1 5 1 % $ 4 . 2 0 2 3 6 1 , 5 1 7 4 5 %
1 , 1 8 9 3 5 % 1 7 8 1 , 4 6 3 4 3 % $ 3 . 5 0 1 5 1 1 , 3 8 0 4 1 % $ 3 . 5 0 1 7 5 1 , 5 0 1 4 4 % $ 3 . 5 0 2 5 6
t - " l = r - - - : 1 0 , . , , 1 0 , . , , 1 1 . . . . , 1 3 = = " = - _ , _ , _ _ _ , 1 0 , . . . , . . 1 0 8 / 1 3 W e d n e s d a y 1 0 / 0 9 / 1 3 T h u r s d a y
. : ~ 1 ; � ' l l . ~ f l ' ; . 1 1 m : ' : v ( l 1 : ; : . , : ~ a p _ ) , P r 1 c e . H � .
1 0 / 1 0 / 1 3 F r i d a y
M : i ; f + : ~
1 0 / 1 1 1 1 3
A M T i m e
0 4 0 0 - 0 5 0 0 8 2 1 2 4 % $ 2 . 6 0 3 0 1 1 , 1 3 7 3 3 % $ 2 . 6 0 3 0 2 8 0 9 2 4 % $ 2 . 6 0 7 6 0 1 , 2 4 1 3 7 % $ 2 . 6 0 4 5 3 9 0 2 2 7 %
0 5 0 0 - 0 6 0 0 $ 4 . 2 0
0 6 0 0 - 0 7 0 0 $ 4 . 4 0
0 7 0 0 - 0 8 0 0 $ 4 . 9 0
0 8 0 0 - 0 9 0 0 $ 4 . 4 0
0 9 0 0 - 1 0 0 0 $ 3 . 5 0
1 , 7 9 6 5 3 % $ 4 . 2 0 4 4 0 1 , 6 6 6 4 9 % $ 4 . 2 0 4 1 7 1 , 6 7 4 4 9 % $ 4 . 2 0 8 3 8 2 , 0 8 5 6 1 % $ 4 . 0 5 1 0 1 0 2 , 1 8 8 6 4 %
A M T i m e
0 4 0 0 - 0 5 0 0 $ 2 . 6 0
0 5 0 0 - 0 6 0 0 $ 4 . 2 0
0 6 0 0 - 0 7 0 0 $ 4 . 4 0
0 7 0 0 - 0 8 0 0 $ 4 . 9 0
0 8 0 0 - 0 9 0 0 $ 4 . 4 0
0 9 0 0 - 1 0 0 0 $ 3 . 5 0
A M T i m e
0 4 0 0 - 0 5 0 0 $ 2 . 6 0
0 5 0 0 - 0 6 0 0 $ 4 . 2 0
0 6 0 0 - 0 7 0 0 $ 4 . 4 0
0 7 0 0 - 0 8 0 0 $ 4 . 9 0
0 8 0 0 - 0 9 0 0 $ 4 . 4 0
0 9 0 0 - 1 0 0 0 $ 3 . 5 0
A M T i m e
5 4 1
3 9 2
2 3 2
1 6 5
2 , 0 1 8 5 9 %
1 , 8 5 2 5 4 %
1 , 6 6 9 4 9 %
1 , 3 7 1 4 0 %
1 0 1 1 4 / 1 3 , c , ,
$ 4 . 4 0
$ 4 . 9 0
$ 4 . 4 0
$ 3 . 5 0
3 0 1 8 2 8 2 4 % $ 2 . 6 0
5 2 1 1 , 7 2 5 5 1 % $ 4 . 2 0
4 6 8 1 , 9 1 6 5 6 % $ 4 . 4 0
3 2 5
2 0 7
1 8 8
2 7 3
5 1 7
4 4 5
4 2 7
2 0 1
1 6 8
1 , 5 7 1 4 6 % $ 4 . 9 0
1 , 2 9 7 3 8 % $ 4 . 4 0
1 , 5 1 0 4 4 % $ 3 . 5 0
8 2 3 2 4 % $ 2 . 6 0
1 , 7 9 2 5 3 % $ 4 . 2 0
1 , 8 5 3 5 5 % $ 4 . 4 0
1 , 9 6 2 5 8 % $ 4 . 9 0
1 , 6 4 5 4 8 % $ 4 . 4 0
1 , 6 3 5 4 8 % $ 3 . 5 0
0 4 0 0 - 0 5 0 0 $ 2 . 6 0 2 . 8 0 8 1 5 2 4 % $ 2 . 6 0
0 5 0 0 - 0 6 0 0 $ 4 . 2 0 5 2 5 1 , 8 2 7 5 4 % $ 4 . 2 0
0 6 0 0 - 0 7 0 0 $ 4 . 4 0 4 6 9 1 , 8 7 6 5 5 % $ 4 . 4 0
0 7 0 0 - 0 8 0 0 $ 4 . 9 0 3 7 6 1 , 5 6 6 4 6 % $ 4 . 9 0
0 8 0 0 - 0 9 0 0 $ 4 . 4 0 2 3 2 1 , 5 0 6 4 4 % $ 4 . 4 0
0 9 0 0 - 1 0 0 0 $ 3 . 5 0 1 5 5 1 , 6 3 5 4 8 % $ 3 . 5 0
4 4 7 1 , 8 0 9 5 3 % $ 4 . 4 0 4 0 5 1 , 8 0 4 5 3 % $ 4 . 4 0 9 4 3 2 , 3 7 2 7 0 % $ 4 . 2 0 9 2 9 2 , 2 6 4 6 7 %
4 7 1 1 , 8 8 4 5 5 % $ 4 . 9 0 4 5 8 1 , 9 9 5 5 9 % $ 4 . 9 0 8 9 6 2 , 4 1 0 7 1 % $ 4 . 7 5 5 8 4 1 , 9 0 8 5 6 %
3 2 2 1 , 7 2 3 5 1 % $ 4 . 4 0 1 9 4 1 , 7 7 1 5 2 % $ 4 . 4 0 3 2 5 1 , 8 6 9 5 5 % $ 4 . 2 0 3 6 2 1 , 5 2 4 4 5 %
1 , 2 4 2 3 7 % 1 8 7 1 , 7 6 4 5 2 % $ 3 . 5 0 1 6 9 1 , 4 7 0 4 3 % $ 3 . 5 0 3 3 9 1 , 6 6 6 4 9 % $ 3 . 5 0 3 2 2
3 1 6 7 5 9 2 2 %
6 2 9 1 , 9 1 0 5 6 % $ 4 . 2 0
5 3 9 2 , 0 8 6 6 1 % $ 4 . 4 0
4 2 9
2 2 5
1 8 7
5 3 4
4 3 8
1 9 0
1 4 2
3 0 3
1 , 9 8 7
1 , 7 8 2
1 , 6 1 5
7 9 8
1 , 7 9 9
2 , 1 1 2
1 , 9 9 3
1 , 7 3 2
1 , 3 0 3
5 8 % $ 4 . 9 0
5 2 % $ 4 . 4 0
4 8 % $ 3 . 5 0
2 3 % $ 2 . 6 0
5 3 % $ 4 . 2 0
6 2 % $ 4 . 4 0
5 9 % $ 4 . 9 0
5 1 % $ 4 . 4 0
3 8 % $ 3 . 5 0
5 4 6 1 , 8 4 9 5 4 %
5 1 0 2 , 0 1 7 5 9 % $ 4 . 4 0
4 0 2 1 , 9 5 5 5 8 % $ 4 . 9 0
2 1 9 1 , 6 5 1 4 9 % $ 4 . 4 0
1 4 5 1 , 0 6 6 3 1 % $ 3 . 5 0
3 3 6 8 1 3 2 4 %
6 1 3 1 , 8 8 7 5 6 % $ 4 . 2 0
5 5 3 2 , 1 4 4 6 3 % $ 4 . 4 0
4 3 3
2 2 4
1 6 2
2 , 0 5 3 6 0 % $ 4 . 9 0
1 , 7 9 1 5 3 % $ 4 . 4 0
1 , 3 5 0 4 0 % $ 3 . 5 0
1 0 1 1 7 / 1 3 F r i d a y
! i i f t # P r j d ' '
3 7 6 8 6 8 2 6 % $ 2 . 6 0 3 8 2 8 2 7 2 4 %
7 2 9 2 , 0 1 8 5 9 % $ 4 . 0 5 1 1 0 4 2 , 2 9 2 6 7 %
7 7 5 2 , 2 6 7 6 7 % $ 4 . 2 0 5 0 5 1 , 8 5 0 5 4 %
5 4 0 2 , 0 7 4 6 1 % $ 4 . 7 5 4 7 6 1 , 8 4 2
2 2 1 1 , 6 9 7 5 0 % $ 4 . 2 0 5 5 1 1 , 6 9 3
1 8 4 1 , 4 4 8 4 3 % $ 3 . 5 0 5 4 1 1 , 4 5 0
5 4 %
5 0 %
4 3 %
1 0 1 2 3 / 1 3 T h u r s d a y 1 0 / 2 4 1 1 3 F r i d a y 1 0 1 2 5 1 1 3
; ; - . ' & m > , P t l c e . . f i O V 1 1 ' * V . P r i . e - � 1 � � ~ : ~ x . �
3 1 7
5 5 6
5 3 2
4 4 0
2 4 6
1 7 9
7 9 3
1 , 7 9 4
2 , 0 5 3
2 3 %
5 3 %
6 0 %
$ 2 . 6 0
$ 4 . 2 0
$ 4 . 4 0
1 , 9 2 3 5 7 % $ 4 . 9 0
1 , 8 0 1
1 , 3 3 9
5 3 % $ 4 . 4 0
3 9 % $ 3 . 5 0
4 9 2 1 , 4 1 7 4 2 %
4 2 7 1 , 5 5 9 4 6 % $ 4 . 4 0
5 0 2 2 , 2 3 8 6 6 % $ 4 . 9 0
2 3 0 1 , 7 0 1 5 0 % $ 4 . 4 0
1 8 0 1 , 6 6 4 4 9 % $ 3 . 5 0
3 2 6
5 4 4
5 2 8
4 8 8
2 4 1
1 7 6
7 9 1
1 , 8 0 3
2 3 %
5 3 %
$ 2 . 6 0 3 6 1 8 0 8
$ 4 . 0 5
1 , 9 7 5 5 8 % $ 4 . 2 0
2 , 0 5 5 6 0 % $ 4 . 7 5
1 , 7 3 8 5 1 % $ 4 . 2 0
1 , 3 9 6 4 1 % $ 3 . 5 0
1 , 8 5 6
5 4 6 2 , 0 0 4
4 2 3 1 , 9 6 8
2 0 6 1 , 6 5 8
1 3 8 1 , 1 2 2
8 4 1
7 2 2
4 2 7
1 9 7
1 3 9
1 , 9 9 4
2 , 0 2 3
1 , 8 0 5
1 , 2 4 4
1 , 0 1 7
6
2 4 %
5 9 %
6 0 %
5 3 %
3 7 %
3 0 %
Transponder Distribution Status
TRANSPONDER DISTRIBUTION f-~Octobe~·13-~~eptern~~J __ t:!.~
1 Tags~, of Total I Tag~, of Total J Average To-Date
Issued
To New Accounts
,. V • .. AV• < , , ~ , f
Additional Tags to Existing Accounts .
632
589
Replacement Transponders 1,491 ...
Returned
Account aosures
Accounts Do\¥ nsizing_
Defective.Transpond~rs
Total Issued 2,712
I
J
Total Returned
23.3% 25.1%
> f•'
At the end of October 2013, the 91 Express Lanes had 113,356 active customer accounts, with
169,532 transponders assigned to those accounts.
125,000
120,000
115,000
110,000
105,000
100,000
95,000
Number of Accounts by Fiscal Year
As of October 31, 2013
119,992
Fiscal Year
7
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O p e r a t i o n a l H i g h l i g h t s
O n - r o a d O p e r a t i o n s
C u s t o m e r A s s i s t a n c e S p e c i a l i s t s ( C A S ) r e s p o n d e d t o 9 7 c a l l s d u r i n g O c t o b e r . T h e C A S t e a m
r e c e i v e d 5 7 c a l l s t o a s s i s t d i s a b l e d v e h i c l e s , 8 c a l l s t o r e m o v e d e b r i s a n d c o n d u c t e d 2 1 a s s i s t s o r
t r a f f i c b r e a k s . T h e C A S p r o v i d e d a s s i s t a n c e t o 9 a c c i d e n t s i n t h e E x p r e s s L a n e s a n d 2 a c c i d e n t s
i n t h e g e n e r a l - p u r p o s e l a n e s .
8
Financial Highlights
91 Express Lanes
Operating Statement
Operating expenses:
Contracted services
Administrative fee
Other professional services
Credit card processing fees
Toll road account servicing
Other insurance expense
Toll road maintenance supply repairs
Patrol services
Building equipment repairs and rnaint
Other services
Utilities
Office expense
Bad debt expense
Bond Issuance Cost
Miscellaneous <2>
Leases
YTD as of October 31, 2013
2,623,570.08 2,692,280.00 68,709.92
722,543.68 722, 184.00 (359.68)
576,796.29 933,712.00 356,915.71
262,228.37 349,860.00 87,631.63
207,514.36 158,272.00 (49,242.36)
107,471.00 83,300.00 (24,171.00)
65,384.05 82,886.00 17,501.95
133,531.84 141,608.00 8,076.16
124,227.81 201,960.00 77,732.19
3,280.00 28,332.00 25,052.00
6,748.39 6,664.00 (84.39)
7,916.56 11,621.00 3,704.44
506,766.77 47,428.00 (459,338. 77)
13,385.14 20,581.00 7,195.86
96,510.90 138,280.00 41,769.10
5,457,875.24 5,618,968.00 161,092.76 Total operating expenses
De reciation and amortization <3l 1,298,829.97 1,298,829.97
Nonoperating revenues (expenses):
Federal assistance grants
Interest income
Investment gain on derivative instrument
Interest expense
Other
Total nonoperatin
Transfers in
Transfers out
loss 7,264,277.28 7,734,183.00
167,859.40 262,067.00
(1,994,245.09) (2,538,456.00)
1,826,385.69 2,276,389.00
5,437,891.59 $ 5,457,794.00 $
'Actual amounts are accounted for on the accrual basis of accounting in an enterprise fund. Budget amounts are
accounted 1br on a modified accrual basis of accounting.
'Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
•Depreciation and amortization are not budgeted items.
Capital Asset Activity
469,905.72
(94,207.60)
544,210.91
450,003.31
19,902.41
2.6
(0.0)
38.2
25.0
(31.1)
(29.0)
21.1
5.7
38.5
88.4
(1.3)
31.9
NIA
(968.5)
35.0
30.2
2.9
NIA
6.1
NIA
(35.9)
NIA
21.4
NIA
19.8
NIA
NIA
0.4
During the four months ending October 31, 2013, capital asset activities included $110,539 for
the purchase of transponders.
9
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O C T A
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D e c e m b e r 6 , 2 0 1 3
T o :
F r o m :
S u b j e c t :
O v e r v i e w
S t a t e R o u t e 9 1 A d v i s o r y C o m m i t t e e
K i r k A v i l a , ~ n e r a l M a n a g e r , 9 1 E x p r e s s L a n e s
F i s c a l Y e a r 2 0 1 2 - 1 3 9 1 E x p r e s s L a n e s A n n u a l F i n a n c i a l
S t a t e m e n t s
V a v r i n e k , T r i n e , D a y a n d C o . , L L P , a n i n d e p e n d e n t a c c o u n t i n g f i r m , h a s
c o m p l e t e d t h e a n n u a l a u d i t o f t h e 9 1 E x p r e s s L a n e s f i n a n c i a l s t a t e m e n t s f o r
f i s c a l y e a r 2 0 1 2 - 1 3 a n d h a s i s s u e d i t s i n d e p e n d e n t a u d i t o r ' s o p i n i o n . A c o p y o f
t h e a u d i t e d f i n a n c i a l s t a t e m e n t s i s a t t a c h e d f o r t h e S t a t e R o u t e 9 1 A d v i s o r y
C o m m i t t e e r e v i e w .
R e c o m m e n d a t i o n
R e c e i v e a n d f i l e t h e f i s c a l y e a r 2 0 1 2 - 1 3 9 1 E x p r e s s L a n e s A n n u a l F i n a n c i a l
S t a t e m e n t s .
B a c k g r o u n d
T h e O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y ( O C T A ) p r e p a r e s t h e f i n a n c i a l
s t a t e m e n t s f o r t h e 9 1 E x p r e s s L a n e s F u n d , w h i c h p r e s e n t t h e r e s u l t s o f
o p e r a t i o n s d u r i n g t h e p r e c e d i n g f i s c a l � y e a r ( F Y ) a n d t h e f i n a n c i a l p o s i t i o n a t y e a r
e n d . I n a d d i t i o n , O C T A i s r e q u i r e d t o o b t a i n a n i n d e p e n d e n t a u d i t o r ' s o p i n i o n
o n t h e f i n a n c i a l s t a t e m e n t s . T h e a u d i t w a s c o n d u c t e d b y V a v r i n e k , T r i n e , D a y
a n d C o . , L L P ( V T D ) , a n i n d e p e n d e n t a c c o u n t i n g f i r m , t o o b t a i n r e a s o n a b l e
a s s u r a n c e a s t o w h e t h e r t h e f i n a n c i a l s t a t e m e n t s a r e f r e e o f m a t e r i a l
m i s s t a t e m e n t .
D i s c u s s i o n
V T D h a s c o m p l e t e d i t s a n n u a l a u d i t a n d h a s i s s u e d i t s o p i n i o n o f t h e
9 1 E x p r e s s L a n e s f i n a n c i a l s t a t e m e n t s f o r t h e F Y e n d e d J u n e 3 0 , 2 0 1 3 . T h e
a u d i t s w e r e c o n d u c t e d i n a c c o r d a n c e w i t h g e n e r a l l y a c c e p t e d a u d i t i n g
s t a n d a r d s a n d t h e s t a n d a r d s a p p l i c a b l e t o f i n a n c i a l a u d i t s c o n t a i n e d i n t h e
G o v e r n m e n t A u d i t i n g S t a n d a r d s , i s s u e d b y t h e C o m p t r o l l e r G e n e r a l o f t h e
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
5 5 0 S o u t h M a i n S t r e e t / P . O . B o x 1 4 1 8 4 I O r a n g e I C a l i f o r n i a 9 2 8 6 3 - 1 5 8 4 I ( 7 1 4 ) 5 6 0 - 0 C T A ( 6 2 8 2 )
Fiscal Year 2012-13 91 Express Lanes Annual
Financial Statements
Page2
United States. The auditors have issued an unmodified opinion on the financial
statements, indicating that the statements present fairly, in all material aspects,
the financial position of the 91 Express Lanes Fund, as of
June 30, 2013. A copy of the audited financial statements is included as
Attachment A.
Summary
Vavrinek, Trine, Day and Co., LLP, an independent accounting firm, has audited
the 91 Express Lanes financial statements and has issued its unmodified
opinion as to the fairness of the financial statements.
Attachment
A. 91 Express Lanes Fund (An Enterprise Fund of the Orange County
Transportation Authority) Financial Statements Year Ended
June 30, 2013.
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9 1 E X P R E S S L A N E S F U N D
( A n E n t e r p r i s e F u n d o f t h e O r a n g e
C o u n t y T r a n s p o r t a t i o n A u t h o r i t y )
F I N A N C I A L S T A T E M E N T S
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
A T T A C H M E N T A
91 Express Lanes Fund
(An Enterprise Fund of the Orange County Transportation Authority) •
Financial Statements
For the Fiscal Year Ended June 30, 2013
Contents
Independent Auditors' Report .................................................................................................................... 1
Management's Discussion and Analysis ................................................................................................... 3
Financial Statements:
Statement of Fund Net Position .................................................................................................................. 8
Statement of Revenues, Expenses and Changes in Fund Net Position ................................................. 9
Statement of Cash Flows ........................................................................................................................... 10
Notes to the Financial Statements ............................................................................................................ 12 •
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V a v r i n e k , T r i n e , D a y & C o . , L L P
C e r t i f i e d P u b l i c A c c o u n t a n t s
I N D E P E N D E N T A U D I T O R S ' R E P O R T
B o a r d o f D i r e c t o r s
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y
O r a n g e , C a l i f o r n i a
R e p o r t o n t h e F i n a n c i a l S t a t e m e n t s
~ A . L U E i l ' H E \ D I F F E R E N C E
W e h a v e a u d i t e d t h e a c c o m p a n y i n g f i n a n c i a l s t a t e m e n t s o f t h e 9 1 E x p r e s s L a n e s F u n d , a n e n t e r p r i s e f u n d o f t h e
O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y ( O C T A ) , a s o f a n d f o r t h e y e a r e n d e d J u n e 3 0 , 2 0 1 3 , a n d t h e r e l a t e d
n o t e s t o t h e f i n a n c i a l s t a t e m e n t s , a s l i s t e d i n t h e t a b l e o f c o n t e n t s .
M a n a g e m e n t ' s R e s p o n s i b i l i t y f o r t h e F i n a n c i a l S t a t e m e n t s
M a n a g e m e n t i s r e s p o n s i b l e f o r t h e p r e p a r a t i o n a n d f a i r p r e s e n t a t i o n o f t h e s e f i n a n c i a l s t a t e m e n t s i n a c c o r d a n c e
w i t h a c c o u n t i n g p r i n c i p l e s g e n e r a l l y a c c e p t e d i n t h e U n i t e d S t a t e s o f A m e r i c a ; t h i s i n c l u d e s t h e d e s i g n ,
i m p l e m e n t a t i o n , a n d m a i n t e n a n c e o f i n t e r n a l c o n t r o l r e l e v a n t t o t h e p r e p a r a t i o n a n d f a i r p r e s e n t a t i o n o f f i n a n c i a l
s t a t e m e n t s t h a t a r e f r e e f r o m m a t e r i a l m i s s t a t e m e n t , w h e t h e r d u e t o f r a u d o r e r r o r .
A u d i t o r s ' R e s p o n s i b i l i t y
O u r r e s p o n s i b i l i t y i s t o e x p r e s s a n o p i n i o n o n t h e s e f i n a n c i a l s t a t e m e n t s b a s e d o n o u r a u d i t . W e c o n d u c t e d o u r
a u d i t i n a c c o r d a n c e w i t h a u d i t i n g s t a n d a r d s g e n e r a l l y a c c e p t e d i n t h e U n i t e d S t a t e s o f A m e r i c a a n d t h e s t a n d a r d s
a p p l i c a b l e t o f i n a n c i a l a u d i t s c o n t a i n e d i n G o v e r n m e n t A u d i t i n g S t a n d a r d s , i s s u e d b y t h e C o m p t r o l l e r G e n e r a l o f
t h e U n i t e d S t a t e s . T h o s e s t a n d a r d s r e q u i r e t h a t w e p l a n a n d p e r f o r m t h e a u d i t t o o b t a i n r e a s o n a b l e a s s u r a n c e
a b o u t w h e t h e r t h e f i n a n c i a l s t a t e m e n t s a r e f r e e f r o m m a t e r i a l m i s s t a t e m e n t .
A n a u d i t i n v o l v e s p e r f o r m i n g p r o c e d u r e s t o o b t a i n a u d i t e v i d e n c e a b o u t t h e a m o u n t s a n d d i s c l o s u r e s i n t h e
f i n a n c i a l s t a t e m e n t s . T h e p r o c e d u r e s s e l e c t e d d e p e n d o n t h e a u d i t o r ' s j u d g m e n t , i n c l u d i n g t h e a s s e s s m e n t o f t h e
r i s k s o f m a t e r i a l m i s s t a t e m e n t o f t h e f i n a n c i a l s t a t e m e n t s , w h e t h e r d u e t o f r a u d o r e r r o r . I n m a k i n g t h o s e r i s k
a s s e s s m e n t s , t h e a u d i t o r c o n s i d e r s i n t e r n a l c o n t r o l r e l e v a n t t o t h e e n t i t y ' s p r e p a r a t i o n a n d f a i r p r e s e n t a t i o n o f t h e
f i n a n c i a l s t a t e m e n t s i n o r d e r t o d e s i g n a u d i t p r o c e d u r e s t h a t a r e a p p r o p r i a t e i n t h e c i r c u m s t a n c e s , b u t n o t f o r t h e
p u r p o s e o f e x p r e s s i n g a n o p i n i o n o n t h e e f f e c t i v e n e s s o f t h e e n t i t y ' s i n t e r n a l c o n t r o l . A c c o r d i n g l y , w e e x p r e s s n o
s u c h o p i n i o n . A n a u d i t a l s o i n c l u d e s e v a l u a t i n g t h e a p p r o p r i a t e n e s s o f a c c o u n t i n g p o l i c i e s u s e d a n d t h e
r e a s o n a b l e n e s s o f s i g n i f i c a n t a c c o u n t i n g e s t i m a t e s m a d e b y m a n a g e m e n t , a s w e l l a s e v a l u a t i n g t h e o v e r a l l
p r e s e n t a t i o n o f t h e f i n a n c i a l s t a t e m e n t s .
W e b e l i e v e t h a t t h e a u d i t e v i d e n c e w e h a v e o b t a i n e d i s s u f f i c i e n t a n d a p p r o p r i a t e t o p r o v i d e a b a s i s f o r o u r a u d i t
o p i n i o n .
O p i n i o n
I n o u r o p i n i o n , t h e f i n a n c i a l s t a t e m e n t s r e f e r r e d t o a b o v e p r e s e n t f a i r l y , i n a l l m a t e r i a l r e s p e c t s , t h e r e s p e c t i v e
f i n a n c i a l p o s i t i o n o f t h e 9 1 E x p r e s s L a n e s F u n d a n d t h e r e s p e c t i v e c h a n g e s i n f i n a n c i a l p o s i t i o n a n d , w h e r e
a p p l i c a b l e , c a s h f l o w s t h e r e o f f o r t h e y e a r t h e n e n d e d i n a c c o r d a n c e w i t h a c c o u n t i n g p r i n c i p l e s g e n e r a l l y a c c e p t e d
i n t h e U n i t e d S t a t e s o f A m e r i c a .
1
2 5 2 3 1 P a s e o D e A l i c i a , S u i t e 1 0 0 L a g u n a H i l l s , C A 9 2 6 5 3 T e l : 9 4 9 . 7 6 8 . 0 8 3 3 F a x : 9 4 9 . 7 6 8 . 8 4 0 8 w w w . v t d c p a . c o m
F R E S N O " L A G U N A H I L L S " P A L O A L T O " P L E A S A N T O N " R A N C H O C U C A M O N G A " R I V E R S I D E " S A C R A M E N T O
Emphasis of Matter
Individual Fund Financial Statements
As discussed in Note 1, the financial statements present only the 91 Express Lanes Enterprise Fund of OCTA and
do not purport to, and do not, present fairly the financial position of OCT A as of June 30, 2013, and the changes
in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting
principles generally accepted in the United States of America. Our opinion is not modified with respect to this
matter.
Implementation of new accounting standards
As discussed in Note 1, the 91 Express Lanes Fund adopted Governmental Accounting Standards Board (GASB)
Statement No. 62 -Codification of Accounting and Financial Reporting Guidance Contained in Pre-
November 30, 1989 FASB and AICPA Pronouncements, GASB Statement No. 63 -Financial Reporting of
Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position and GASB Statement No. 65 -
Items Previously Reported as Assets and Liabilities, effective July 1, 2012. Our opinion is not modified with
respect to this matter.
Other Matters
Required Supplementary Information
•
Accounting principles generally accepted in the United States of America require that the management's
discussion and analysis on pages 3 through 7 be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the Governmental Accounting
Standards Board who considers it to be an essential part of financial reporting for placing the basic financial
statements in an appropriate operational, economic, or historical context. We have applied certain limited •
procedures to the required supplementary information in accordance with auditing standards generally accepted in
the United States of America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management's responses to our inquiries, the
basic financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the information because the limited procedures do not
provide us with sufficient evidence to express an opinion or provide any assurance.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2013 on
our consideration of OCTA's internal control over financial reporting and on our tests of its compliance with
certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that
report is to describe the scope of our testing of internal control over financial reporting and compliance and the
results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing Standards in
considering OCTA's internal control over financial reporting and compliance.
\/a.vr1 ~, r;,,u. , V..r ~,co. LLP
Laguna Hills, California
October 31, 2013
2 •
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9 1 E x p r e s s L a n e s F u n d
M a n a g e m e n t ' s D i s c u s s i o n a n d A n a l y s i s
( u n a u d i t e d )
F o r t h e F i s c a l Y e a r E n d e d J u n e 3 0 , 2 0 1 3
A s m a n a g e m e n t o f t h e 9 1 E x p r e s s L a n e s F u n d ( 9 1 E L ) , a n e n t e r p r i s e f u n d o f t h e O r a n g e C o u n t y
T r a n s p o r t a t i o n A u t h o r i t y , w e o f f e r r e a d e r s o f t h e 9 1 E L f i n a n c i a l s t a t e m e n t s t h i s n a r r a t i v e o v e r v i e w a n d
a n a l y s i s o f t h e 9 1 E L ' s f i n a n c i a l a c t i v i t i e s f o r t h e f i s c a l y e a r e n d e d J u n e 3 0 , 2 0 1 3 . W e e n c o u r a g e r e a d e r s t o
c o n s i d e r t h e i n f o r m a t i o n o n f i n a n c i a l p e r f o r m a n c e p r e s e n t e d i n c o n j u n c t i o n w i t h t h e f i n a n c i a l s t a t e m e n t s
t h a t b e g i n o n p a g e 8 . A l l a m o u n t s , u n l e s s o t h e r w i s e i n d i c a t e d , a r e e x p r e s s e d i n t h o u s a n d s o f d o l l a r s .
F i n a n c i a l H i g h l i g h t s
" O C T A i m p l e m e n t e d G A S B 6 5 d u r i n g t h i s f i s c a l y e a r . T h e i m p a c t o f t h i s c h a n g e i n a c c o u n t i n g
p r i n c i p l e w a s t o w r i t e o f f t h e c o s t o f i s s u a n c e b a l a n c e a s o f J u l y l , 2 0 1 2 a n d t o r e s t a t e t h e
b e g i n n i n g n e t p o s i t i o n b y $ 2 , 6 2 1 .
" T o t a l n e t p o s i t i o n o f t h e 9 1 E L w a s $ 8 8 , 7 1 6 a n d c o n s i s t e d o f n e t i n v e s t m e n t i n c a p i t a l a s s e t s o f
$ 1 4 , 6 2 0 ; r e s t r i c t e d n e t p o s i t i o n o f $ 2 0 , 3 8 3 ; a n d u n r e s t r i c t e d n e t p o s i t i o n o f $ 5 3 , 7 1 3 .
" N e t p o s i t i o n i n c r e a s e d $ 1 8 , 0 7 8 d u r i n g f i s c a l y e a r 2 0 1 2 - 1 3 . T h e i n c r e a s e i s p r i m a r i l y d u e t o
o p e r a t i n g r e v e n u e s i n e x c e s s o f o p e r a t i n g e x p e n s e s a n d a g a i n o n d e r i v a t i v e i n s t r u m e n t , o f f s e t b y
b o n d i n t e r e s t e x p e n s e .
" N o n o p e r a t i n g r e v e n u e s ( e x p e n s e s ) i n c r e a s e d $ 5 , 2 4 7 f r o m t h e p r i o r y e a r p r i m a r i l y d u e t o t h e g a i n
o n d e r i v a t i v e i n s t r u m e n t o f $ 1 , 3 1 2 i n f i s c a l y e a r 2 0 1 2 - 1 3 c o m p a r e d t o a l o s s o f $ 3 , 6 3 9 i n f i s c a l y e a r
2 0 1 1 - 1 2 .
O v e r v i e w o f t h e F i n a n c i a l S t a t e m e n t s
T h i s d i s c u s s i o n a n d a n a l y s i s i s i n t e n d e d t o s e r v e a s a n i n t r o d u c t i o n t o t h e 9 1 E L ' s f i n a n c i a l s t a t e m e n t s .
T h e f i n a n c i a l s t a t e m e n t s a r e c o m p r i s e d o f t h e f u n d f i n a n c i a l s t a t e m e n t s a n d n o t e s t o t h e f i n a n c i a l
s t a t e m e n t s .
T h e s t a t e m e n t o f f u n d n e t p o s i t i o n p r e s e n t s i n f o r m a t i o n o n a l l o f t h e 9 1 E L ' s a s s e t s , d e f e r r e d o u t f l o w s o f
r e s o u r c e s , d e f e r r e d i n f l o w s o f r e s o u r c e s a n d l i a b i l i t i e s , w i t h t h e d i f f e r e n c e r e p o r t e d a s n e t p o s i t i o n . O v e r
t i m e , i n c r e a s e s o r d e c r e a s e s i n n e t p o s i t i o n m a y s e r v e a s a u s e f u l i n d i c a t o r o f w h e t h e r t h e f i n a n c i a l
p o s i t i o n o f t h e 9 1 E L i s i m p r o v i n g o r d e t e r i o r a t i n g .
T h e s t a t e m e n t o f r e v e n u e s , e x p e n s e s a n d c h a n g e s i n f u n d n e t p o s i t i o n p r e s e n t s i n f o r m a t i o n s h o w i n g h o w
t h e 9 1 E L ' s n e t p o s i t i o n c h a n g e d d u r i n g t h e f i s c a l y e a r . A l l c h a n g e s i n n e t p o s i t i o n a r e r e p o r t e d a s s o o n
a s t h e u n d e r l y i n g e v e n t g i v i n g r i s e t o t h e c h a n g e o c c u r s , r e g a r d l e s s o f t h e t i m i n g o f r e l a t e d c a s h f l o w s .
T h e 9 1 E L f u n d f i n a n c i a l s t a t e m e n t s c a n b e f o u n d o n p a g e s 8 - 1 1 o f t h i s r e p o r t .
N o t e s t o t h e f i n a n c i a l s t a t e m e n t s p r o v i d e a d d i t i o n a l i n f o r m a t i o n t h a t i s e s s e n t i a l t o a f u l l u n d e r s t a n d i n g
o f t h e d a t a p r o v i d e d i n t h e f i n a n c i a l s t a t e m e n t s . T h e n o t e s t o t h e f i n a n c i a l s t a t e m e n t s c a n b e f o u n d o n
p a g e s 1 2 - 2 9 o f t h i s r e p o r t .
3
91 Express Lanes Fund
Management's Discussion and Analysis
91 Express Lanes Financial Analysis
As noted previously, net position may serve over time as a useful indicator of the 91 EL's financial
position. At June 30, 2013, the 91 EL's net position was $88,716, a $18,078 increase from June 30, 2012.
Our analysis below focuses on net position (Table 1) and changes in net position (Table 2) of the 91 EL's
financial activities.
Table 1
91 Express Lanes Fund
Net Position
2013 2012
Current and other assets $ 63,054 $ 53,908
Restricted assets 39,018 38,975
Capital assets, net 3,937 4,844
Intangible asset -toll road franchise, net 135,801 138,388
Total assets 241,810 236,115
Total deferred outflows of resources 16,106 17,174
Current liabilities 14,867 14,776
Long-term liabilities 154,333 167,875
Total liabilities 169,200 182,651
Net position:
Invested in capital assets 14,620 13,685
Restricted 20,383 20,340
Unrestricted 53,713 36,613
Total net position, as restated $ 88,716 $ 70,638
The 91 EL's net position invested in capital assets was $14,620, compared to $13,685 in 2012. The 91 EL's
net position reflect its investment in capital assets (i.e., intangible assets; improvements; communications
equipment; computer hardware and software; equipment, furniture and fixtures; and transponders), less
any related outstanding debt used to acquire these assets. The 91 EL uses these capital assets to provide
improved mobility for 91 EL customers and commuters along the State Route (SR) 91 corridor. The
increase of $935 in net position invested in capital assets was primarily related to $4,429 reduction in
related outstanding debt used to acquire capital assets and continued depreciation.
Restricted net position, representing resources subjected to external restrictions on how they may be
used, were 23% and 29% of the total net position at June 30, 2013 and 2012, respectively. The increase in
restricted net position of $43 is related to investment activity in bond reserve accounts.
Unrestricted net position represents the portion of net position that can be used to finance day-to-day
operations without constraints established by debt covenants, enabling legislation, or other legal
requirements. Unrestricted net position changed from $36,613 at June 30, 2012 to $53,713 at
June 30, 2013. This increase of $17,100 was primarily due to operating revenues in excess of operating
expenses.
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9 1 E x p r e s s L a n e s F u n d
M a n a g e m e n t ' s D i s c u s s i o n a n d A n a l y s i s
T h e a n a l y s i s i n T a b l e 2 f o c u s e s o n t h e c h a n g e s i n n e t p o s i t i o n .
T a b l e 2
9 1 E x p r e s s L a n e s F u n d
C h a n g e s i n N e t P o s i t i o n
2 0 1 3 2 0 1 2
R e v e n u e s :
O p e r a t i n g r e v e n u e s :
T o l l s , f e e s , a n d f i n e s $ 3 9 , 2 8 8 $ 3 7 , 7 4 2
T o t a l o p e r a t i n g r e v e n u e s 3 9 , 2 8 8 3 7 , 7 4 2
O p e r a t i n g e x p e n s e s :
M a n a g e m e n t a n d o p e r a t i o n a l s e r v i c e s 7 , 5 0 5 7 , 2 2 2
A d m i n i s t r a t i v e o v e r h e a d 2 , 1 6 8 1 , 8 4 8
O t h e r o p e r a t i n g e x p e n s e s 7 2 , 7 7 4
I n s u r a n c e c l a i m s a n d p r e m i u m s 3 1 2 3 0 8
P r o f e s s i o n a l s e r v i c e s 2 , 5 8 0 2 , 6 5 1
G e n e r a l a n d a d m i n i s t r a t i v e 5 0 8 4 3 9
D e p r e c i a t i o n a n d a m o r t i z a t i o n 3 , 8 8 7 5 , 9 9 4
T o t a l o p e r a t i n g e x p e n s e s 1 6 , 9 6 7 2 1 , 2 3 6
O p e r a t i n g i n c o m e 2 2 , 3 2 1 1 6 , 5 0 6
N o n o p e r a t i n g r e v e n u e s ( e x p e n s e s ) :
I n v e s t m e n t e a r n i n g s 1 9 8 5 2 1
I n v e s t m e n t g a i n / ( l o s s ) o n d e r i v a t i v e 1 , 3 1 2 ( 3 , 6 3 9 )
i n s t r u m e n t
I n t e r e s t e x p e n s e ( 5 , 7 7 3 ) ( 6 , 4 6 4 )
O t h e r 2 1 9 3
T o t a l n o n o p e r a t i n g r e v e n u e s ( e x p e n s e s ) ( 4 , 2 4 2 ) ( 9 , 4 8 9 )
I n c o m e b e f o r e t r a n s f e r s 1 8 , 0 7 9 7 , 0 1 7
T r a n s f e r s t o O C T A f u n d s ( 1 ) ( 1 0 1 )
C h a n g e s i n n e t p o s i t i o n , a s r e s t a t e d 1 8 , 0 7 8 6 , 9 1 6
T o t a l n e t p o s i t i o n - b e g i n n i n g , a s r e s t a t e d 7 0 , 6 3 8 6 3 , 7 2 2
T o t a l n e t p o s i t i o n - e n d i n g $ 8 8 , 7 1 6 $ 7 0 , 6 3 8
9 1 E L ' s t o t a l o p e r a t i n g r e v e n u e s i n c r e a s e d b y 4 % , w h i l e t h e t o t a l o p e r a t i n g e x p e n s e s d e c r e a s e d b y 2 0 % .
T h e i n c r e a s e i n o p e r a t i n g r e v e n u e s i s p r i m a r i l y d u e t o a n i n c r e a s e i n r e v e n u e f r o m t o l l r o a d f e e s a n d
v i o l a t i o n s . T h e d e c r e a s e i n o p e r a t i n g e x p e n s e s i s p r i m a r i l y a t t r i b u t a b l e t o a 3 5 y e a r e x t e n s i o n o f t h e
F r a n c h i s e A g r e e m e n t r e s u l t i n g i n a d e c r e a s e i n a m o r t i z a t i o n a n d t o t h e i m p l e m e n t a t i o n o f G A S B 6 5 ,
w h i c h r e s u l t e d i n t h e e l i m i n a t i o n o f t h e a m o r t i z a t i o n o f b o n d i s s u a n c e c o s t s a n d i n t h e r e s t a t e m e n t o f
e n d i n g n e t p o s i t i o n f o r f i s c a l y e a r 2 0 1 2 i n t h e a m o u n t o f $ 2 , 6 2 1 .
5
91 Express Lanes Fund
Management's Discussion and Analysis
Nonoperating revenues (expenses) increased $5,247 due to an investment gain on the termination of the
derivative investment as well as a decrease in interest expense due to the termination of the interest rate
swap.
Capital Assets and Intangible Asset
Capital Assets
As of June 30, 2013, the 91 EL had $3,937 net of accumulated depreciation, invested in a broad range of
capital assets including: improvements, communications equipment, computer hardware and software,
transponders, and equipment, furniture and fixtures (Table 3). The total decrease in the 91 EL's capital
assets for fiscal year 2012-13 was $907, which was primarily due to depreciation.
Table3
91 Express Lanes Fund
Capital Assets, net of depreciation and amortization
Improvements
Communications equipment
Computer hardware and software
Transponders
Equipment, furniture, and fixtures
Total capital assets, net
2013
1,855
83
927
1,027
45
$3,937
2012
2,029
197
1,380
1,183 .
55
$4,844
Major capital asset deletions during 2013 included $467 for disposal of various communication
equipment/ systems. The 91 EL has outstanding capital expenditure commitments, the most
significant of which is $2,173 for transponder purchases.
More detailed information about the 91 EL' s capital assets is presented in note 4 to the financial
statements.
Intangible Asset
Intangible asset activity for the year ended June 30, 2013 was as follows:
Beginning Ending
Balance Increases Decreases Balance
Toll facility franchise $ 205,264 $ $ $ 205,264
Less accumulated amortization (66,876) (2,587) (69,463)
Total toll facility franchise, net $ 138,388 $ (2,587) $ $ 135,801
More detailed information about the 91 EL' s intangible asset is presented in note 5 to the financial
statements.
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9 1 E x p r e s s L a n e s F u n d
M a n a g e m e n t ' s D i s c u s s i o n a n d A n a l y s i s
D e b t A d m i n i s t r a t i o n
A s o f J u n e 3 0 , 2 0 1 3 , t h e 9 1 E L h a d $ 1 5 5 , 4 6 0 i n t a x - e x e m p t b o n d s o u t s t a n d i n g c o m p a r e d t o $ 1 6 0 , 7 0 5
a t J u n e 3 0 , 2 0 1 2 , a s p r e s e n t e d i n T a b l e 4 .
T a x - e x e m p t b o n d s
T a b l e 4
9 1 E x p r e s s L a n e s F u n d
O u t s t a n d i n g D e b t
2 0 1 3 2 0 1 2
$ 1 5 5 , 4 6 0 $ 1 6 0 , 7 0 5
A d d i t i o n a l i n f o r m a t i o n o n l o n g - t e r m d e b t c a n b e f o u n d i n n o t e 7 t o t h e f i n a n c i a l s t a t e m e n t s .
E c o n o m i c a n d O t h e r F a c t o r s
T h e 9 1 E L m a k e s u p $ 3 9 , 4 3 6 o r 3 . 2 % o f O C T A ' s f i s c a l y e a r 2 0 1 3 - 1 4 r e v e n u e b u d g e t . I n f i s c a l y e a r 2 0 1 3 - 1 4 ,
t o l l r e v e n u e i s f o r e c a s t e d t o d e c r e a s e b y 3 . 7 % d u e t o t h e a d d i t i o n o f a 5 t h l a n e o n t h e S R - 9 1 c o r r i d o r
w h i c h w i l l e n c o u r a g e p a t r o n s t o u s e t h e g e n e r a l p u r p o s e l a n e s . H o w e v e r , t h e a v e r a g e l o n g t e r m r a t e o f
g r o w t h f o r t o l l r o a d r e v e n u e s b e y o n d 2 0 1 3 - 1 4 i s 4 . 9 % .
T h e m a j o r i t y o f e x p e n s e s r e l a t e d t o t h e 9 1 E L w i t h i n t h e f i s c a l y e a r 2 0 1 3 - 1 4 b u d g e t a r e o n - g o i n g g e n e r a l
c o s t s r e l a t e d t o d a y t o d a y o p e r a t i o n s o f t h e t o l l f a c i l i t y . S i n c e t h e 9 1 E L i s a f u l l y e l e c t r o n i c t o l l f a c i l i t y ,
m o t o r i s t s p a y t o l l s t h r o u g h t h e c o n v e n i e n t u s e o f w i n d s h i e l d m o u n t e d F a s T r a k "! t r a n s p o n d e r s t h a t
a u t o m a t i c a l l y d e d u c t t o l l c h a r g e s f r o m a p r e p a i d a c c o u n t . A t t h e e n d o f f i s c a l y e a r 2 0 1 2 - 1 3 , t h e r e w e r e
1 1 2 , 9 2 9 a c t i v e c u s t o m e r a c c o u n t s , w i t h 1 6 8 , 5 0 7 t r a n s p o n d e r s a s s i g n e d t o t h o s e a c c o u n t s .
O C T A , i n c o n c e r t w i t h C a l t r a n s a n d R i v e r s i d e C o u n t y T r a n s p o r t a t i o n C o m m i s s i o n ( R C T C ) , i s s u e d a n
a n n u a l S R 9 1 I m p l e m e n t a t i o n P l a n t o e s t a b l i s h a p r o g r a m o f p r o j e c t s e l i g i b l e f o r f u n d i n g b y p o t e n t i a l
e x c e s s 9 1 E L t o l l r e v e n u e a n d o t h e r f u n d s . T h e t o t a l c o s t f o r t h e f i r s t s e t o f p r o j e c t s i s a p p r o x i m a t e l y
$ 1 1 1 , 2 0 0 . O n e o f t h e s e p r o j e c t s i s t h e a d d i t i o n o f a w e s t b o u n d a u x i l i a r y l a n e o n S R - 9 1 b e g i n n i n g a t t h e
n o r t h b o u n d S R - 5 5 t o t h e w e s t b o u n d S R - 9 1 c o n n e c t o r t h r o u g h t h e T u s t i n A v e n u e i n t e r c h a n g e .
C o n s t r u c t i o n i s t o b e g i n i n f i s c a l y e a r 2 0 1 3 - 1 4 a n d i s e x p e c t e d t o b e c o m p l e t e d i n f i s c a l y e a r 2 0 1 4 - 1 5 . T h i s
p r o j e c t r e q u i r e s c l o s e c o o r d i n a t i o n w i t h C a l t r a n s i n o r d e r t o m i n i m i z e i m p a c t s t o t h e 9 1 E L ' s o p e r a t i o n s .
C o n t a c t i n g 9 1 E L ' s M a n a g e m e n t
T h i s f i n a n c i a l r e p o r t i s d e s i g n e d t o p r o v i d e a g e n e r a l o v e r v i e w o f t h e 9 1 E L ' s f i n a n c e s f o r a l l t h o s e w i t h
a n i n t e r e s t i n t h e g o v e r n m e n t ' s f i n a n c e s a n d t o d e m o n s t r a t e t h e 9 1 E L ' s a c c o u n t a b i l i t y f o r t h e m o n e y i t
r e c e i v e s . Q u e s t i o n s c o n c e r n i n g a n y o f t h e i n f o r m a t i o n p r o v i d e d i n t h i s r e p o r t o r r e q u e s t s f o r a d d i t i o n a l
i n f o r m a t i o n s h o u l d b e a d d r e s s e d t o t h e F i n a n c e a n d A d m i n i s t r a t i o n D i v i s i o n a t t h e O r a n g e C o u n t y
T r a n s p o r t a t i o n A u t h o r i t y , 5 5 0 S o u t h M a i n S t r e e t , P . O . B o x 1 4 1 8 4 , O r a n g e , C a l i f o r n i a 9 2 8 6 3 - 1 5 8 4 .
7
91 Express Lanes Fund
(An Enterprise Fund of the Orange County Transportation Authority)
Statement of Net Position
June 30, 2013
Assets
Current Assets:
Cash and investments $
Receivables:
Interest
Violations, net
Other, net
Other assets
Total current assets
Noncurrent Assets:
Restricted cash and investments:
Cash equivalents
Capital assets, net:
Depreciable
Intangible asset -tollroad franchise, net
Total noncurrent assets
Total Assets
Deferred Outflows of Resources
Deferred charge on refunding
Total Deferred Outflows of Resources
Liabilities
Current Liabilities:
Accounts payable
Accrued interest payable
Due to other governments
Unearned revenue
Other liabilities
Bonds payable -due within one year
Total current liabilities
Noncurrent Liabilities:
Bonds payable -due in more than one year
Total noncurrent liabilities
Total Liabilities
Net Position
Net investment in capital assets
Restricted for:
Debt service
Capital
Operating reserves
Unrestricted
Total Net Position $
See accompanying notes to the financial statements.
8
•
57,145,015
92,352
4,481,401
1,069,118
267,120
63,055,006
39,017,588
3,936,580
135,801,367
178,755,535
241,810,541
16,106,073
16,106,073 • 3,221,385
1,629,590
66,635
4,128,411
295,994
5,525,000
14,867,015
154,333,429
154,333,429
169,200,444
14,620,383
6,988,259
10,155,766
3,238,m
53,712,991
88,716,170
•
"
"
"
9 1 E x p r e s s L a n e s F u n d
( A n E n t e r p r i s e F u n d o f t h e O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y )
S t a t e m e n t o f R e v e n u e s , E x p e n s e s a n d C h a n g e s i n F u n d N e t P o s i t i o n
F o r t h e Y e a r E n d e d J u n e 3 0 , 2 0 1 3
O p e r a t i n g r e v e n u e s :
T o l l s , f e e s , a n d f i n e s $
O p e r a t i n g e x p e n s e s :
M a n a g e m e n t a n d o p e r a t i o n a l s e r v i c e s
A d m i n i s t r a t i v e o v e r h e a d
O t h e r o p e r a t i n g e x p e n s e s
I n s u r a n c e c l a i m s a n d p r e m i u m s
P r o f e s s i o n a l s e r v i c e s
G e n e r a l a n d a d m i n i s t r a t i v e
D e p r e c i a t i o n a n d a m o r t i z a t i o n
T o t a l o p e r a t i n g e x p e n s e s
O p e r a t i n g i n c o m e
N o n o p e r a t i n g r e v e n u e s ( e x p e n s e s ) :
I n v e s t m e n t e a r n i n g s
I n v e s t m e n t g a i n o n d e r i v a t i v e i n s t r u m e n t
I n t e r e s t e x p e n s e
O t h e r
T o t a l n o n o p e r a t i n g r e v e n u e s ( e x p e n s e s )
I n c o m e b e f o r e t r a n s f e r s
T r a n s f e r s t o o t h e r O C T A f u n d s
C h a n g e i n n e t p o s i t i o n
T o t a l n e t p o s i t i o n - b e g i n n i n g , a s r e s t a t e d
T o t a l n e t p o s i t i o n - e n d i n g $
S e e a c c o m p a n y i n g n o t e s t o t h e f i n a n c i a l s t a t e m e n t s .
9
3 9 , 2 8 8 , 3 0 0
7 , 5 0 4 , 9 5 5
2 , 1 6 7 , 6 3 1
6 , 5 5 8
3 1 1 , 8 4 1
2 , 5 7 9 , 7 3 1
5 0 8 , 6 2 8
3 , 8 8 7 , 4 4 2
1 6 , 9 6 6 , 7 8 6
2 2 , 3 2 1 , 5 1 4
1 9 8 , 0 9 0
1 , 3 1 1 , 9 0 6
( 5 , 7 7 3 , 2 3 9 )
2 1 , 3 6 9
{ 4 , 2 4 1 , 8 7 4 }
1 8 , 0 7 9 , 6 4 0
{ 1 , 1 7 2 )
1 8 , 0 7 8 , 4 6 3
7 0 , 6 3 7 , 7 0 7
8 8 , 7 1 6 , 1 7 0
91 Express Lanes Fund
(An Enterprise Fund of the Orange County Transportation Authority)
Statement of Cash Flows
For the Year Ended June 30, 2013
Cash flows from operating activities:
Receipts from customers and users $
Payments to suppliers
Payments for OCT A interfund services used
Miscellaneous revenue received
Net cash provided by operating activities
Cash flows from noncapital financing activities:
Transfers to OCT A funds
Net cash used for noncapital financing activities
Cash flows from capital and related financing activities:
Principal payment on long-term debt
Interest paid on long-term debt
Acquisition and construction of capital assets
Net cash used for capital and related financing activities
Cash flows from investing activities:
Interest received
Termination payment for derivative instrument
Gain/ (loss) from derivatives
Net cash used for investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year $
Reconciliation of cash and cash equivalents to statement of net position:
Cash and investments $
Restricted cash and investments
Total cash and cash equivalents $
See accompanying notes to the financial statements.
10
•
40,460,424
(10,633,837)
(2,167,631)
21,369
27,680,325
(l,177~
{1,177)
(5,245,000)
(5,447,188)
{393,139)
{11,085,3222
168,423 • (7,764,090)
1,311,906
(6,283,761)
10,310,060
85,852,543
96,162,603
57,145,015
39,017,588
96,162,603
•
"
"
"
9 1 E x p r e s s L a n e s F u n d
( A n E n t e r p r i s e F u n d o f t h e O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y )
S t a t e m e n t o f C a s h F l o w s ( C o n t i n u e d )
F o r t h e Y e a r E n d e d J u n e 3 0 , 2 0 1 3
R e c o n c i l i a t i o n o f o p e r a t i n g i n c o m e ( l o s s ) t o n e t c a s h
p r o v i d e d b y ( u s e d f o r ) o p e r a t i n g a c t i v i t i e s :
O p e r a t i n g i n c o m e $
A d j u s t m e n t s t o r e c o n c i l e o p e r a t i n g i n c o m e t o n e t c a s h
p r o v i d e d b y ( u s e d f o r ) o p e r a t i n g a c t i v i t i e s :
D e p r e c i a t i o n e x p e n s e
A m o r t i z a t i o n o f F r a n c h i s e A g r e e m e n t
A m o r t i z a t i o n o f p r e p a i d e x p e n s e
A m o r t i z a t i o n o f p r e p a i d i n s u r a n c e
M i s c e l l a n e o u s
C h a n g e i n a s s e t s a n d l i a b i l i t i e s :
V i o l a t i o n s r e c e i v a b l e s , n e t
O t h e r r e c e i v a b l e s , n e t
O t h e r a s s e t s
A c c o u n t s p a y a b l e
D u e t o o t h e r g o v e r n m e n t s
U n e a r n e d r e v e n u e
O t h e r l i a b i l i t i e s
T o t a l a d j u s t m e n t s
N e t c a s h p r o v i d e d b y o p e r a t i n g a c t i v i t i e s $
N o n c a s h c a p i t a l , f i n a n c i n g a n d i n v e s t i n g a c t i v i t i e s :
A m o r t i z a t i o n o f b o n d p r e m i u m $
A m o r t i z a t i o n o f b o n d d e f e r r e d r e f u n d i n g c h a r g e s $
S e e a c c o m p a n y i n g n o t e s t o t h e f i n a n c i a l s t a t e m e n t s .
1 1
2 2 , 3 2 1 , 5 1 4
1 , 3 0 0 , 7 4 9
2 , 5 8 6 , 6 9 3
2 5 7 , 1 3 8
3 1 1 , 8 4 0
2 1 , 3 6 9
1 , 1 2 1 , 1 3 1
4 6 , 0 1 0
( 5 8 6 , 1 8 8 )
3 1 5 , 0 5 9
( 1 9 , 9 7 4 )
1 0 , 6 8 4
( 5 , 7 0 0 )
5 , 3 5 8 , 8 1 1
2 7 , 6 8 0 , 3 2 5
( 2 5 2 , 5 4 1 )
1 , 0 6 7 , 8 0 6
91 Express Lanes Fund
(An Enterprise Fund of the Orange County Transportation Authority)
Notes to the Financial Statements
Year Ended June 30, 2013
1. Reporting Entity
On January 3, 2003, the Orange County Transportation Authority (OCTA) purchased from the
California Private Transportation Company (CPTC) its interest in a Franchise Agreement for the
91 Express Lanes. See note 5 for further discussion of the service concession arrangement.
These financial statements include only the activities of the 91 Express Lanes Fund, an enterprise
fund of OCT A. These financial statements are not intended to present the activities of OCT A.
2. Summary of Significant Accounting Policies
The accounting policies of the 91 Express Lanes Fund are in conformity with generally accepted
accounting principles applicable to governmental units. The Governmental Accounting
Standards Board (GASB) is the accepted standard-setting body for establishing accounting and
financial reporting principles.
Basis of Accounting
The financial statements of the 91 Express Lanes Fund are reported using the economic resources
measurement focus and the accrual basis of accounting. Revenues, consisting substantially of
tolls and fees, are recorded when earned, and expenses are recorded when a liability is incurred,
regardless of the timing of related cash flows. Toll amounts are collected from customers on a
prepaid basis, and unearned tolls are reported as unearned revenue. Toll revenue is recognized
when the customers utilize the toll road facility.
Enterprise funds distinguish operating revenues and expenses from nonoperating items.
Operating revenues and expenses generally result from providing services in connection with an
enterprise fund's principal ongoing operations. The principal operating revenues of the 91
Express Lanes Fund are charges to customers for use of the toll facility. Operating expenses for
the 91 Express Lanes Fund include the cost of services, administrative expenses, and depreciation
and amortization on capital assets. All revenues and expenses not meeting this definition are
reported as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the 91 Express Lanes
Fund's policy to use restricted resources first and then unrestricted resources as they are needed.
Cash and Investments
The 91 Express Lanes Fund participates in OCT A's Commingled Investment Pool. OCT A
maintains cash and investments in accordance with the Annual Investment Policy (AIP) adopted
12
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•
•
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"
"
9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
i n i t i a l l y b y O C T A ' s B o a r d o f D i r e c t o r s ( B o a r d ) o n M a y 8 , 1 9 9 5 , a n d m o s t r e c e n t l y a m e n d e d
J u n e 1 0 , 2 0 1 3 . T h e A I P c o m p l i e s w i t h , o r i s m o r e r e s t r i c t i v e t h a n , t h e C a l i f o r n i a G o v e r n m e n t C o d e
( C o d e ) . A t J u n e 3 0 , 2 0 1 3 , t h e i n v e s t m e n t p o r t f o l i o s w e r e m a i n t a i n e d a t U n i o n B a n k a s c u s t o d i a l
b a n k . O C T A ' s C o m m i n g l e d I n v e s t m e n t P o o l i s m a n a g e d b y f o u r p r i v a t e s e c t o r i n v e s t m e n t
m a n a g e r s . S e p a r a t e i n v e s t m e n t m a n a g e r a c c o u n t s a r e m a i n t a i n e d f o r t h e p r o c e e d s o f b o n d i s s u e s ,
w i t h t h e e a r n i n g s f o r e a c h b o n d i s s u e a c c o u n t e d f o r s e p a r a t e l y . C a s h f r o m o t h e r O C T A r e v e n u e
s o u r c e s i s c o m m i n g l e d f o r i n v e s t m e n t p u r p o s e s i n t h e O C T A C o m m i n g l e d I n v e s t m e n t P o o l , w i t h
i n v e s t m e n t e a r n i n g s a l l o c a t e d t o t h e d i f f e r e n t a c c o u n t s b a s e d o n a v e r a g e d a i l y d o l l a r a c c o u n t
b a l a n c e s .
I n v e s t m e n t s i n U . S . g o v e r n m e n t a n d U . S . a g e n c y s e c u r i t i e s , m e d i u m - t e r m n o t e s , r e p u r c h a s e
a g r e e m e n t s , v a r i a b l e a n d f l o a t i n g r a t e s e c u r i t i e s , c o m m e r c i a l p a p e r , m o r t g a g e a n d a s s e t - b a c k e d
s e c u r i t i e s a n d c o r p o r a t e n o t e s a r e c a r r i e d a t f a i r v a l u e b a s e d o n q u o t e d m a r k e t p r i c e s , e x c e p t f o r
s e c u r i t i e s w i t h a r e m a i n i n g m a t u r i t y o f o n e y e a r o r l e s s a t p u r c h a s e d a t e , w h i c h a r e c a r r i e d a t c o s t .
T r e a s u r y m u t u a l f u n d s a r e c a r r i e d a t f a i r v a l u e b a s e d o n e a c h f u n d ' s s h a r e p r i c e . T h e O r a n g e
C o u n t y T r e a s u r y I n v e s t m e n t P o o l ( O C I P ) i s c a r r i e d a t f a i r v a l u e b a s e d o n t h e v a l u e o f e a c h
p a r t i c i p a t i n g d o l l a r a s p r o v i d e d b y t h e O C I P . T h e s t a t e m a n a g e d L o c a l A g e n c y I n v e s t m e n t F u n d
( L A I F ) i s c a r r i e d a t f a i r v a l u e b a s e d o n t h e v a l u e o f e a c h p a r t i c i p a t i n g d o l l a r a s p r o v i d e d b y L A I F .
T h e A I P r e q u i r e s t h a t a s s e t s i n t h e p o r t f o l i o c o n s i s t o f t h e f o l l o w i n g i n v e s t m e n t s , w i t h m a x i m u m
p e r m i s s i b l e c o n c e n t r a t i o n s b a s e d o n b o o k v a l u e , a n d m a y b e m o r e r e s t r i c t i v e t h a n a p p l i c a b l e s t a t e
s t a t u t e s f o r t h e f o l l o w i n g i n v e s t m e n t t y p e s : O C T A n o t e s a n d b o n d s , U . S . t r e a s u r i e s , f e d e r a l
i n s t r u m e n t a l i t y s e c u r i t i e s , f e d e r a l a g e n c i e s , S t a t e o f C a l i f o r n i a a n d l o c a l a g e n c y o b l i g a t i o n s ,
b a n k e r s a c c e p t a n c e , c o m m e r c i a l p a p e r , n e g o t i a b l e c e r t i f i c a t e s o f d e p o s i t , r e p u r c h a s e a g r e e m e n t s ,
m e d i u m - t e r m m a t u r i t y c o r p o r a t e s e c u r i t i e s , m o n e y m a r k e t f u n d s , o t h e r m u t u a l f u n d s , m o r t g a g e
o r a s s e t - b a c k e d s e c u r i t i e s , L A I F , O C I P , v a r i a b l e a n d f l o a t i n g r a t e s e c u r i t i e s a n d b a n k d e p o s i t s .
I n v e s t m e n t a g r e e m e n t s a r e a l s o a l l o w e d f o r b o n d i s s u e s .
A l l i n v e s t m e n t s a r e s u b j e c t t o a m a x i m u m m a t u r i t y o f f i v e y e a r s , u n l e s s s p e c i f i c d i r e c t i o n t o
e x c e e d t h e l i m i t i s g i v e n b y t h e B o a r d a n d a s p e r m i t t e d b y t h e C o d e . O C T A p o l i c y i s t o i n v e s t
o n l y i n h i g h q u a l i t y i n s t r u m e n t s a s p e r m i t t e d b y t h e C o d e , s u b j e c t t o t h e l i m i t a t i o n s o f t h e A I P .
C a s h a n d C a s h E q u i v a l e n t s
F o r t h e p u r p o s e o f t h e s t a t e m e n t o f c a s h f l o w s , O C T A c o n s i d e r s a l l s h o r t - t e r m i n v e s t m e n t s w i t h
a n i n i t i a l m a t u r i t y o f t h r e e m o n t h s o r l e s s t o b e c a s h e q u i v a l e n t s . A l l d e p o s i t s , c o m m e r c i a l p a p e r ,
m o n e y m a r k e t m u t u a l f u n d s , c e r t i f i c a t e s o f d e p o s i t , a n d t h e 9 1 E x p r e s s L a n e s F u n d ' s s h a r e o f t h e
O C T A C o m m i n g l e d I n v e s t m e n t P o o l r e p r e s e n t c a s h a n d c a s h e q u i v a l e n t s f o r c a s h f l o w p u r p o s e s .
R e s t r i c t e d C a s h a n d I n v e s t m e n t s
I n v e s t m e n t s s e t a s i d e i n t h e R e s e r v e F u n d , S u p p l e m e n t a l R e s e r v e F u n d , M a j o r M a i n t e n a n c e
R e s e r v e F u n d , a n d O p e r a t i n g R e s e r v e F u n d a r e p u r s u a n t t o t e r m s o f t h e 2 0 0 3 I n d e n t u r e f o r t h e
1 3
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
$195,265,000 Toll Road Revenue Refunding Bonds and their use is limited by applicable debt
covenants.
Permitted investments per the debt covenants include: government obligations, State of
California and local agency obligations, bankers acceptances, commercial paper, negotiable
certificates of deposit, repurchase agreements, money market funds, other mutual funds,
investment agreements, OCIP, and variable and floating rate securities.
Receivables
Violations receivables include an estimate for outstanding unpaid violations that the 91 Express
Lanes Fund anticipates to collect. For violations less than 90 days old, the receivable is based on a
twelve-month average of violations collected, and is recorded net of an allowance for
uncollectible accounts of $541,563 at June 30, 2013. For unpaid violations in excess of 90 days, the
receivable is estimated using a 3-year average of violations collected and is recorded net of
uncollectible accounts as the majority is not considered probable of collection.
Other receivables include amounts due from other California toll road agencies related to their
customers' use of the 91 Express Lanes, as well as amounts owed from customers, net of an
allowance for uncollectible accounts of $414,861 at June 30, 2013.
An estimated $4 million of violation and customer receivables are not expected to be collected
within one year. The 91 Express Lanes utilizes an outside collection agency to assist in the
recovery of unpaid customer balances and violations exceeding 90 days.
Other Assets
Other assets include prepaid expenses and refundable deposits.
Capital Assets
Capital assets include improvements, equipment, computer hardware, software, furniture and
fixtures, and transponders. Capital assets are defined by the 91 Express Lanes Fund as assets
with an initial, individual cost of more than $5,000 and a useful life in excess of one year. It is
also the 91 Express Lanes Fund's policy to capitalize transponder purchases, as they are
considered a significant class of assets even though individually under $5,000. Such assets are
recorded at historical cost. The costs of normal maintenance and repairs that do not add value to
the asset or materially extend asset lives are not capitalized.
14
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
C a p i t a l a s s e t s a r e d e p r e c i a t e d u s i n g t h e s t r a i g h t - l i n e m e t h o d o v e r t h e f o l l o w i n g e s t i m a t e d u s e f u l
l i v e s :
C a p i t a l A s s e t T y p e
I m p r o v e m e n t s
E q u i p m e n t , f u r n i t u r e a n d f i x t u r e s
C o m p u t e r h a r d w a r e a n d s o f t w a r e
T r a n s p o n d e r s
I n t a n g i b l e A s s e t - T o l l F a c i l i t y F r a n c h i s e
U s e f u l L i f e
1 0 - 3 0 y e a r s
3 - 1 0 y e a r s
3 - 5 y e a r s
5 y e a r s
O C T A p u r c h a s e d t h e i n t e r e s t i n t h e f r a n c h i s e a g r e e m e n t f o r t h e t o l l f a c i l i t y f r o m C P T C o n
J a n u a r y 3 , 2 0 0 3 . T h e t o l l f a c i l i t y f r a n c h i s e i s a m o r t i z e d o v e r t h e r e m a i n i n g l i f e o f t h e f r a n c h i s e
a g r e e m e n t t h r o u g h D e c e m b e r 2 0 6 5 .
D e f e r r e d o u t f l o w s / i n f l o w s o f r e s o u r c e s
I n a d d i t i o n t o a s s e t s , t h e s t a t e m e n t o f f i n a n c i a l p o s i t i o n w i l l s o m e t i m e s r e p o r t a s e p a r a t e s e c t i o n
f o r d e f e r r e d o u t f l o w s o f r e s o u r c e s . T h i s s e p a r a t e f i n a n c i a l s t a t e m e n t e l e m e n t , d e f e r r e d o u t f l o w s
o f r e s o u r c e s , r e p r e s e n t s a c o n s u m p t i o n o f n e t p o s i t i o n t h a t a p p l i e s t o a f u t u r e p e r i o d a n d s o w i l l
n o t b e r e c o g n i z e d a s a n o u t f l o w o f r e s o u r c e s ( e x p e n s e / e x p e n d i t u r e ) u n t i l t h e n . O C T A o n l y h a s
o n e i t e m t h a t q u a l i f i e s f o r r e p o r t i n g i n t h i s c a t e g o r y . I t i s t h e d e f e r r e d c h a r g e o n r e f u n d i n g
r e p o r t e d i n t h e s t a t e m e n t o f n e t p o s i t i o n . A d e f e r r e d c h a r g e o n r e f u n d i n g r e s u l t s f r o m t h e
d i f f e r e n c e i n t h e c a r r y i n g v a l u e o f r e f u n d e d d e b t a n d i t s r e a c q u i s i t i o n p r i c e . T h i s a m o u n t i s
d e f e r r e d a n d a m o r t i z e d o v e r t h e s h o r t e r o f t h e l i f e o f t h e r e f u n d e d o r r e f u n d i n g d e b t .
I n a d d i t i o n t o l i a b i l i t i e s , t h e s t a t e m e n t o f f i n a n c i a l p o s i t i o n w i l l s o m e t i m e s r e p o r t a s e p a r a t e
s e c t i o n f o r d e f e r r e d i n f l o w s o f r e s o u r c e s . T h i s s e p a r a t e f i n a n c i a l s t a t e m e n t e l e m e n t , d e f e r r e d
i n f l o w s o f r e s o u r c e s , r e p r e s e n t s a n a c q u i s i t i o n o f n e t p o s i t i o n t h a t a p p l i e s t o a f u t u r e p e r i o d a n d
w i l l n o t b e r e c o g n i z e d a s a n i n f l o w o f r e s o u r c e s ( r e v e n u e ) u n t i l t h a t t i m e .
I n t e r e s t R a t e S w a p
A s a m e a n s o f l o w e r i n g b o r r o w i n g c o s t s o n v a r i a b l e r a t e d e b t c o m p a r e d t o f i x e d r a t e b o n d s a t t h e
t i m e o f i s s u a n c e i n N o v e m b e r 2 0 0 3 , O C T A e n t e r e d i n t o t w o p a r i t y i n t e r e s t r a t e s w a p s t o t a l i n g
$ 1 0 0 , 0 0 0 , 0 0 0 . T h e p a r i t y s w a p s w e r e e n t e r e d i n t o t o e f f e c t i v e l y c h a n g e O C T A ' s v a r i a b l e r a t e
b o n d s t o a s y n t h e t i c a l l y f i x e d r a t e o f 4 . 0 6 2 2 7 % . O n M a r c h 1 5 , 2 0 1 1 , O C T A t e r m i n a t e d o n e o f t h e
s w a p s w i t h a n o t i o n a l a m o u n t o f $ 7 5 , 0 0 0 , 0 0 0 . O n J a n u a r y 3 0 , 2 0 1 3 , O C T A t e r m i n a t e d t h e
r e m a i n i n g s w a p w i t h a n o t i o n a l a m o u n t o f $ 2 5 , 0 0 0 , 0 0 0 . R e f e r t o n o t e 6 .
1 5
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
Risk Management
The 91 Express Lanes Fund purchases commercial property insurance including business
interruption, earthquake and flood coverage related to the toll facility. Additionally, the
91 Express Lanes Fund participates in OCTA's self-insurance general liability program. The
liability claims are resolved by OCT A and are an expense of the 91 Express Lanes Fund.
Net Position
Net position represents the difference between assets and deferred outflow of resources and
liabilities and deferred inflow of resources and is classified into three categories:
• Net investment in capital assets -Reflects net position of the 91 Express Lanes Fund invested in
capital assets net of related debt. This net position is not accessible for other purposes.
• Restricted net position -Represents net position not accessible for general use, with the use
subject to restrictions enforceable by third parties. The Statement of Net Position includes
restricted net position for the portion of debt attributable to unspent proceeds, restricted by
the 2003 Toll Road Revenue Refunding Bonds Master Indenture of Trust for debt service,
capital, and operating expenses.
• Unrestricted net position -Represents net position available for general use .
Use of Estimates
The preparation of the financial statements in conformity with accounting principles generally
accepted in the United States requires management to make estimates and assumptions that
affect certain reported amounts and disclosures during the reporting period. As such, actual
results could differ from those estimates.
New Effective Accounting Pronouncements
In fiscal year 2013, OCT A implemented the following GASB Statements:
GASB Statement No. 60
In November 2010, GASB issued Statement No. 60, Accounting and Financial Reporting for
Service Concession Arrangements. The objective of this Statement is to improve financial
reporting by addressing issues related to service concession arrangements (SCAs), which are
a type of public-private or public-public partnership. OCT A implemented this statement in
fiscal year 2013. See note 5.
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
G A S B S t a t e m e n t N o . 6 1
I n N o v e m b e r 2 0 1 0 , G A S B i s s u e d S t a t e m e n t N o . 6 1 , T h e F i n a n c i a l R e p o r t i n g E n t i t y : O m n i b u s
- a n a m e n d m e n t o f G A S B S t a t e m e n t s N o . 1 4 a n d N o . 3 4 . T h e o b j e c t i v e o f t h i s S t a t e m e n t i s t o
i m p r o v e f i n a n c i a l r e p o r t i n g f o r g o v e r n m e n t a l f i n a n c i a l r e p o r t i n g e n t i t i e s . T h i s S t a t e m e n t
m o d i f i e s c e r t a i n r e q u i r e m e n t s f o r i n c l u s i o n o f c o m p o n e n t u n i t s i n t h e f i n a n c i a l r e p o r t i n g
e n t i t y a n d a m e n d s t h e c r i t e r i a f o r r e p o r t i n g c o m p o n e n t u n i t s a s i f t h e y w e r e a p a r t o f t h e
p r i m a r y g o v e r n m e n t i n c e r t a i n c i r c u m s t a n c e s . T h i s s t a t e m e n t d o e s n o t a p p l y t o t h e 9 1 E L .
G A S B S t a t e m e n t N o . 6 2
I n J u n e 2 0 1 1 , G A S B i s s u e d S t a t e m e n t N o . 6 2 , C o d i f i c a t i o n o f A c c o u n t i n g a n d F i n a n c i a l
R e p o r t i n g G u i d a n c e C o n t a i n e d i n P r e - N o v e m b e r 3 0 , 1 9 8 9 F A S B a n d A I C P A
P r o n o u n c e m e n t s . T h e o b j e c t i v e o f t h i s S t a t e m e n t i s t o i n c o r p o r a t e i n t o t h e G A S B ' s
a u t h o r i t a t i v e l i t e r a t u r e c e r t a i n a c c o u n t i n g a n d f i n a n c i a l r e p o r t i n g g u i d a n c e t h a t i s i n c l u d e d
i n F A S B a n d A I C P A p r o n o u n c e m e n t s i s s u e d o n o r b e f o r e N o v e m b e r 3 0 , 1 9 8 9 w h i c h d o e s n o t
c o n f l i c t w i t h o r c o n t r a d i c t G A S B p r o n o u n c e m e n t s . O C T A h a s i m p l e m e n t e d t h i s G A S B f o r
t h e f i s c a l y e a r e n d i n g J u n e 3 0 , 2 0 1 3 . R e f e r t o n o t e 1 0 f o r m o r e i n f o r m a t i o n .
G A S B S t a t e m e n t N o . 6 3
I n J u n e 2 0 1 1 , G A S B i s s u e d S t a t e m e n t N o . 6 3 , F i n a n c i a l R e p o r t i n g o f D e f e r r e d O u t f l o w s o f
R e s o u r c e s , D e f e r r e d I n f l o w s o f R e s o u r c e s , a n d N e t P o s i t i o n . T h i s S t a t e m e n t p r o v i d e s
f i n a n c i a l r e p o r t i n g g u i d a n c e f o r d e f e r r e d o u t f l o w s o f r e s o u r c e s a n d d e f e r r e d i n f l o w s o f
r e s o u r c e s a n d t h e r e s u l t i n g n e t p o s i t i o n . T h i s s t a t e m e n t i s e f f e c t i v e f o r O C T A ' s f i s c a l y e a r
e n d i n g J u n e 3 0 , 2 0 1 3 . O C T A o n l y h a s o n e i t e m t h a t q u a l i f i e s f o r r e p o r t i n g i n t h i s c a t e g o r y .
I t i s t h e d e f e r r e d c h a r g e o n r e f u n d i n g r e p o r t e d i n t h e s t a t e m e n t o f n e t p o s i t i o n . A d e f e r r e d
c h a r g e o n r e f u n d i n g r e s u l t s f r o m t h e d i f f e r e n c e i n t h e c a r r y i n g v a l u e o f r e f u n d e d d e b t a n d i t s
r e a c q u i s i t i o n p r i c e . T h i s a m o u n t i s d e f e r r e d a n d a m o r t i z e d o v e r . t h e s h o r t e r o f t h e l i f e o f t h e
r e f u n d e d o r r e f u n d i n g d e b t a n d m u s t b e r e p o r t e d a s a d e f e r r e d o u t f l o w o f r e s o u r c e s . R e f e r t o
n o t e 1 0 f o r m o r e i n f o r m a t i o n o n t h e e f f e c t s o f t h i s r e s t a t e m e n t .
G A S B S t a t e m e n t N o . 6 5
I n M a r c h 2 0 1 2 , G A S B i s s u e d S t a t e m e n t N o . 6 5 , I t e m s P r e v i o u s l y R e p o r t e d a s A s s e t s a n d
L i a b i l i t i e s . T h i s s t a t e m e n t e s t a b l i s h e s a c c o u n t i n g a n d f i n a n c i a l r e p o r t i n g s t a n d a r d s t h a t
r e c l a s s i f y , a s d e f e r r e d o u t f l o w s o f r e s o u r c e s o r d e f e r r e d i n f l o w s o f r e s o u r c e s , c e r t a i n i t e m s
t h a t w e r e p r e v i o u s l y r e p o r t e d a s a s s e t s a n d l i a b i l i t i e s a n d r e c o g n i z e s , a s o u t f l o w s o f
r e s o u r c e s o r i n f l o w s o r r e s o u r c e s , c e r t a i n i t e m s t h a t w e r e p r e v i o u s l y r e p o r t e d a s a s s e t s a n d
l i a b i l i t i e s . O C T A h a s e a r l y i m p l e m e n t e d t h i s G A S B f o r t h e f i s c a l y e a r e n d i n g J u n e 3 0 , 2 0 1 3 .
R e f e r t o n o t e 1 0 f o r m o r e i n f o r m a t i o n .
1 7
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
3. Cash and Investments
Cash and investments are comprised of the following at June 30, 2013:
Deposits:
Petty cash
Deposits
Total deposits
Investments:
With OCT A Commingled Investment Pool
With trustee
Total investments
Total cash and investments
$ 550
406,316
406,866
56,739,672
39,016,065
95,755,737
$ 96,162,603
Total deposits and investments are reported in the financial statements as:
Unrestricted cash and investments $ 57,145,015
Restricted cash and investments:
Cash equivalents 39,017,588
Total cash and investments $ 96,162,603
As of June 30, 2013, the 91 Express Lanes Fund had the following investments:
Investment
OCTA Commingled
Investment Pool
Held by trustee:
Money Market Mutual Funds
Certificates of Deposit
Commercial Paper
Total investments
Portfolio Weighted Average
Interest Rate Risk
Fair Value
$ 56,739,672
2,745
13,393,000
25,620,320
$ 95,755,737
Principal
$ 56,675,790
2,745
13,393,000
25,620,320
$ 95,691,855
Interest
Rate Maturity
Range Range
Discount, 7/1/13-
0.125%-7.375% 6/1/18
Variable 7/1/13
.12% 8/1/13
Discount 8/1/13
Weighted
Average
Maturity
(Years)
1.93
1 Day
.09
.09
1.86
OCT A manages exposure to declines in fair value from increasing interest rates by having an
investment policy that limits maturities to five years while also staggering maturities. OCTA
18
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
m a i n t a i n s a l o w d u r a t i o n s t r a t e g y , t a r g e t i n g a n e s t i m a t e d a v e r a g e p o r t f o l i o d u r a t i o n o f t h r e e
y e a r s o r l e s s , w i t h t h e i n t e n t o f r e d u c i n g i n t e r e s t r a t e r i s k . P o r t f o l i o s w i t h l o w d u r a t i o n a r e l e s s
v o l a t i l e , t h e r e f o r e l e s s s e n s i t i v e t o i n t e r e s t r a t e c h a n g e s . I n a c c o r d a n c e w i t h t h e A I P , a m o u n t s
r e s t r i c t e d f o r d e b t s e r v i c e r e s e r v e s a r e i n v e s t e d i n a c c o r d a n c e w i t h t h e m a t u r i t y p r o v i s i o n o f t h e i r
s p e c i f i c i n d e n t u r e , w h i c h m a y e x t e n d b e y o n d f i v e y e a r s .
A s o f J u n e 3 0 , 2 0 1 3 , t h e 9 1 E x p r e s s L a n e s F u n d p a r t i c i p a t e d i n O C T A ' s C o m m i n g l e d I n v e s t m e n t
P o o l w h i c h h a d a s s e t - b a c k e d s e c u r i t i e s t o t a l i n g $ 4 1 , 8 8 9 , 1 8 9 r e c o r d e d i n t h e p o o l . T h e u n d e r l y i n g
a s s e t s a r e c o n s u m e r r e c e i v a b l e s t h a t i n c l u d e c r e d i t c a r d s , a u t o a n d h o m e l o a n s . T h e s e c u r i t i e s
h a v e a f i x e d i n t e r e s t r a t e a n d a r e r a t e d A A A b y a t l e a s t t w o o f t h e t h r e e n a t i o n a l l y r e c o g n i z e d
s t a t i s t i c a l r a t i n g o r g a n i z a t i o n s .
A s o f J u n e 3 0 , 2 0 1 3 , O C T A ' s C o m m i n g l e d I n v e s t m e n t P o o l h a d t h e f o l l o w i n g v a r i a b l e r a t e n o t e s :
I n v e s t m e n t F a i r V a l u e C o u : e o n M u l t i 2 l i e r C o u 2 o n R e s e t D a t e
A m e r i c a n E x p r e s s $ 1 , 0 0 8 , 6 8 7 L I B O R + 5 9 b a s i s p o i n t s Q u a r t e r l y
A p p l e 1 , 3 1 8 , 8 7 8 L I B O R + 5 b a s i s p o i n t s Q u a r t e r l y
A p p l e 1 , 0 8 5 , 3 2 4 L I B O R + 2 5 b a s i s p o i n t s Q u a r t e r l y
B a n k o f A m e r i c a 7 5 7 , 7 7 3 L I B O R + 8 2 b a s i s p o i n t s Q u a r t e r l y
B B & T C o r p o r a t i o n 6 2 2 , 3 8 0 L I B O R + 7 0 b a s i s p o i n t s Q u a r t e r l y
D a i m l e r F i n a n c e 7 2 2 , 5 1 3 L I B O R + 7 8 b a s i s p o i n t s Q u a r t e r l y
G o l d m a n S a c h s 6 5 1 , 6 9 7 L I B O R + 1 0 0 b a s i s p o i n t s Q u a r t e r l y
G o l d m a n S a c h s 1 , 0 7 9 , 9 1 7 L I B O R + 1 2 0 b a s i s p o i n t s Q u a r t e r l y
J P M o r g a n C h a s e 2 , 0 3 5 , 5 1 2 L I B O R + 9 0 b a s i s p o i n t s Q u a r t e r l y
M e r c k & C o B o n d s 8 5 8 , 3 4 9 L I B O R + 3 6 b a s i s p o i n t s Q u a r t e r l y
N B C U n i v e r s a l 6 1 1 , 8 1 2 L I B O R + 5 3 . 7 b a s i s p o i n t s Q u a r t e r l y
T a r g e t 1 , 1 0 1 , 5 7 3 L I B O R + 1 7 b a s i s p o i n t s Q u a r t e r l y
T o r o n t o D o m i n i o n 1 , 1 0 0 , 2 0 9 L I B O R + 1 8 b a s i s p o i n t s Q u a r t e r l y
V F C o r p o r a t e N o t e s 5 0 0 , 5 6 5 L I B O R + 7 5 b a s i s p o i n t s Q u a r t e r l y
T o t a l V a r i a b l e R a t e N o t e s $ 1 3 , 4 5 5 , 1 8 9
C u s t o d i a l C r e d i t R i s k
C u s t o d i a l c r e d i t r i s k f o r d e p o s i t s i s t h e r i s k t h a t , i n t h e e v e n t o f t h e f a i l u r e o f a d e p o s i t o r y
f i n a n c i a l i n s t i t u t i o n , a g o v e r n m e n t w i l l n o t b e a b l e t o r e c o v e r i t s d e p o s i t s o r w i l l n o t b e a b l e t o
r e c o v e r c o l l a t e r a l s e c u r i t i e s t h a t a r e i n t h e p o s s e s s i o n o f a n o u t s i d e p a r t y . T h e c u s t o d i a l c r e d i t
r i s k f o r i n v e s t m e n t s i s t h e r i s k t h a t , i n t h e e v e n t o f t h e f a i l u r e o f t h e c o u n t e r p a r t y ( e . g . , b r o k e r -
d e a l e r ) t o a t r a n s a c t i o n , a g o v e r n m e n t w i l l n o t b e a b l e t o r e c o v e r t h e v a l u e o f i t s i n v e s t m e n t o r
c o l l a t e r a l s e c u r i t i e s t h a t a r e i n t h e p o s s e s s i o n o f a n o t h e r p a r t y . O C T A ' s i n v e s t m e n t p o l i c y
r e q u i r e s t h a t a t h i r d p a r t y b a n k c u s t o d y d e p a r t m e n t h o l d a l l s e c u r i t i e s o w n e d b y O C T A . A l l
1 9
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
trades are settled on a delivery versus payment basis through OCT A's safekeeping agent. At
June 30, 2013, OCTA did not have any deposits or securities exposed to custodial credit risk and
there was no securities lending.
Credit Risk
The AIP sets minimum acceptable credit ratings for investments from any of the three nationally
recognized rating services Standard & Poor' s Corporation (S & P), Moody's Investors Service
(Moody's), and Fitch Ratings (Fitch). For an issuer of short-term debt, the rating must be no less
than A-1 (S & P), P-1 (Moody's), or F-1 (Fitch), while an issuer of long-term debt must be rated no
less than an "A" by two of the three rating services. LAIF and OCT A's Commingled Investment
Pool are not rated.
The following is a summary of the credit quality distribution and concentration of credit risk by
investment type as a percentage of fair value of the 91 Express Lanes Fund's portfolio at
June 30, 2013. (NR means Not Rated):
% of 91 Express
Investments S&P Moody's Fitch Lanes Portfolio
OCT A Commingled Investment Pool NR NR NR 59.25%
Held by trustee:
Money Market Mutual Funds AAA Aaa AAA 0.00%
Certificates of Deposit A-1 P-1 Fl 13.99%
Commercial Paper:
General Electric A-1 P-1 NR 26.76%
Total 100.00%
Concentration of Credit Risk
At June 30, 2013, OCTA did not exceed the AIP maximum concentrations as stated below:
Issuer/Counter-Party Diversification Guidelines For All Securities Except Federal
Agencies, Federal Instrumentalities, Investment Agreements, Repurchase Agreements and
91 Express Lanes Debt
• 5% for any one corporation, bank, local agency, special purpose vehicle or other
corporate name for one or more series of securities.
Issuer/Counter-Party Diversification Guidelines For Federal Agencies, Federal
Instrumentalities and Repurchase Agreements
• 35% for any one Federal Agency or Federal Instrumentalities.
20
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
" 5 0 % f o r a n y o n e r e p u r c h a s e a g r e e m e n t c o u n t e r - p a r t y n a m e i f t h e m a t u r i t y / t e r m i s l e s s
t h a n o r e q u a l t o 7 d a y s .
" 3 5 % f o r a n y o n e r e p u r c h a s e a g r e e m e n t c o u n t e r - p a r t y n a m e i f t h e m a t u r i t y / t e r m i s
g r e a t e r t h a n 7 d a y s .
I s s u e r / C o u n t e r - P a r t y D i v e r s i f i c a t i o n G u i d e l i n e s f o r O C T A ' s 9 1 E x p r e s s L a n e s D e b t
O C T A c a n p u r c h a s e a l l o r a p o r t i o n o f t h e O r a n g e C o u n t y T r a n s p o r t a t i o n A u t h o r i t y ' s
T o l l R o a d R e v e n u e R e f u n d i n g B o n d s ( 9 1 E x p r e s s L a n e s ) S e r i e s B B o n d s m a t u r i n g
D e c e m b e r 1 5 , 2 0 3 0 p r o v i d i n g t h e p u r c h a s e d o e s n o t e x c e e d 2 5 % o f t h e M a x i m u m P o r t f o l i o
a n d i s a u t h o r i z e d b y t h e I n t e r n a l R e v e n u e S e r v i c e .
T h e f o l l o w i n g i s a s u m m a r y o f t h e c o n c e n t r a t i o n o f c r e d i t r i s k b y i s s u e r a s a p e r c e n t a g e o f t h e f a i r
v a l u e o f t h e 9 1 E x p r e s s L a n e s F u n d ' s p o r t f o l i o a t J u n e 3 0 , 2 0 1 3 :
I s s u e r
B a n k o f t h e W e s t ( C e r t i f i c a t e s o f D e p o s i t )
G e n e r a l E l e c t r i c ( C o m m e r c i a l P a p e r )
I n v e s t m e n t i n S t a t e I n v e s t m e n t P o o l
A m o u n t
$ 1 3 , 3 9 3 , 0 0 0
$ 2 5 , 6 2 0 , 3 2 0
% o f 9 1 E x p r e s s
L a n e s P o r t f o l i o
1 3 . 9 9 %
2 6 . 7 6 %
O C T A i s a v o l u n t a r y p a r t i c i p a n t i n L A I F w h i c h i s r e g u l a t e d b y t h e C a l i f o r n i a G o v e r n m e n t C o d e .
T h e I n v e s t m e n t A d v i s o r y B o a r d p r o v i d e s o v e r s i g h t f o r L A I F , c o n s i s t i n g o f f i v e m e m b e r s a s
d e s i g n a t e d b y s t a t u t e , w h i c h i n c l u d e s t h e T r e a s u r e r o f t h e S t a t e o f C a l i f o r n i a . T h e f a i r v a l u e o f
O C T A ' s i n v e s t m e n t i n t h i s p o o l i s r e p o r t e d i n t h e a c c o m p a n y i n g f i n a n c i a l s t a t e m e n t s b a s e d u p o n
O C T A ' s p r o - r a t a s h a r e o f t h e f a i r v a l u e p r o v i d e d b y L A I F f o r t h e e n t i r e L A I F p o r t f o l i o ( i n
r e l a t i o n t o t h e a m o r t i z e d c o s t o f t h a t p o r t f o l i o ) . T h e b a l a n c e a v a i l a b l e f o r w i t h d r a w a l i s b a s e d o n
t h e a c c o u n t i n g r e c o r d s m a i n t a i n e d b y L A I F , w h i c h a r e r e c o r d e d o n a n a m o r t i z e d c o s t b a s i s .
2 1
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
4. Capital Assets
Capital asset activity for the 91 Express Lanes Fund for the year ended June 30, 2013 is as follows:
Beginning Ending
Balance Increases Decreases Balance
Capital assets, being depreciated:
Improvements $ 3,208,531 $ 8,352 $ $ 3,216,883
Communications equipment 3,021,080 3,021,080
Computer hardware and
software 3,282,211 49,874 3,332,085
Transponders 4,535,207 327,590 (466,875) 4,395,922
Equipment, furniture and
fixtures 156,949 7,323 164,272
Total capital assets, being
depreciated 14,203,978 393,139 (466,875) 14,130,242
Beginning Ending
Balance Increases Decreases Balance
Less accumulated depreciation
for:
Improvements (1,178,927) (183,524) (1,362,451)
Communications equipment (2,824,236) (114,423) (2,938,659)
Computer hardware and
software (1,902,375) (502,426) (2,404,801)
Transponders (3,352,241) (483,596) 466,875 (3,368,962)
Equipment, furniture and
fixtures (102,009) (16,780) (118,789)
Total accumulated depreciation {9,359,788) {1,300,749) 466,875 {10,193,662)
Total capital assets, being
depreciated, net $ 4,844,190 $ {907,610) $ $ 3,936,580
5. Service Concession Arrangements -Toll Facility Franchise
On January 3, 2003, OCTA purchased from the California Private Transportation Company
(CPTC) its interest in a Franchise Agreement for a toll facility on a 10-mile segment of the
Riverside Freeway /State Route (SR) 91 between the Orange/Riverside County line and the Costa
Mesa Freeway /SR-55. The purchase was enabled by State Assembly Bill (AB) 1010 (Correa),
passed by the California legislature and signed by the governor in September 2002. The
legislation provided the authority for OCT A to collect tolls and pay related financing costs until
22
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
2 0 3 0 , a n d e l i m i n a t e d n o n - c o m p e t e p r o v i s i o n s i n t h e F r a n c h i s e A g r e e m e n t f o r n e e d e d
i m p r o v e m e n t s o n t h e S R - 9 1 . T h e f r a n c h i s e a g r e e m e n t w i t h t h e S t a t e o f C a l i f o r n i a ' s D e p a r t m e n t
o f T r a n s p o r t a t i o n ( C a l t r a n s ) h a d g r a n t e d C P T C t h e r i g h t t o d e v e l o p a n d c o n s t r u c t t h e t o l l f a c i l i t y
a n d t o o p e r a t e i t f o r 3 5 y e a r s u n d e r a l e a s e a r r a n g e m e n t . C a l t r a n s r e t a i n s l e g a l t i t l e t o t h e r e a l
p r o p e r t y c o m p o n e n t s o f t h e t o l l f a c i l i t y .
I n S e p t e m b e r 2 0 0 8 , t h e G o v e r n o r o f C a l i f o r n i a a p p r o v e d S e n a t e B i l l ( S B ) 1 3 1 6 ( C o r r e a ) a s a n
u p d a t e t o t h e p r o v i s i o n s o f A B 1 0 1 0 . S B 1 3 1 6 a u t h o r i z e d O C T A t o a s s i g n i t s f r a n c h i s e r i g h t s ,
i n t e r e s t s a n d o b l i g a t i o n s i n t h e R i v e r s i d e C o u n t y p o r t i o n t o t h e R i v e r s i d e C o u n t y T r a n s p o r t a t i o n
C o m m i s s i o n ( R C T C ) , t h e r e b y a l l o w i n g R C T C t o a d d t w o t o l l l a n e s a n d a r e g u l a r l a n e i n e a c h
d i r e c t i o n o n t h e S R - 9 1 f r o m t h e O r a n g e C o u n t y l i n e t o I n t e r s t a t e 1 5 . I n a d d i t i o n , t h e b i l l
a u t h o r i z e d t h e t e r m s o f t h e f r a n c h i s e t o e x p i r e n o l a t e r t h a n D e c e m b e r 3 1 , 2 0 6 5 . S B 1 3 1 6 a l s o
r e q u i r e d O C T A a n d R C T C t o e n t e r i n t o a n a g r e e m e n t p r o v i d i n g f o r t h e c o o r d i n a t i o n o f t h e i r
r e s p e c t i v e t o l l i n g f a c i l i t i e s i f R C T C w a s t o c o n s t r u c t a n d o p e r a t e t h e t o l l f a c i l i t i e s o n t h e R i v e r s i d e
C o u n t y p o r t i o n o f t h e S R - 9 1 f r a n c h i s e .
I n D e c e m b e r 2 0 1 1 , t h e B o a r d a p p r o v e d t h e a s s i g n m e n t o f O C T A ' s f r a n c h i s e r i g h t s , i n t e r e s t s a n d
o b l i g a t i o n s i n t h e R i v e r s i d e C o u n t y p o r t i o n o f t h e S R - 9 1 f r a n c h i s e t o R C T C . T h e B o a r d a l s o
a p p r o v e d t h e e x t e n s i o n o f t h e e x p i r a t i o n d a t e t o 2 0 6 5 a n d a c o o p e r a t i v e a g r e e m e n t b e t w e e n
O C T A a n d R C T C t h a t d e t a i l s t h e j o i n t o p e r a t i o n f o r t h e 9 1 E x p r e s s L a n e s e x t e n s i o n .
I n t a n g i b l e a s s e t a c t i v i t y f o r t h e y e a r e n d e d J u n e 3 0 , 2 0 1 3 w a s a s f o l l o w s :
T o l l f a c i l i t y f r a n c h i s e
L e s s a c c u m u l a t e d a m o r t i z a t i o n
T o t a l t o l l f a c i l i t y f r a n c h i s e , n e t
6 . I n t e r e s t R a t e S w a p
B e g i n n i n g
B a l a n c e
$ 2 0 5 , 2 6 3 , 6 6 8
( 6 6 , 8 7 5 , 6 0 8 )
$ 1 3 8 , 3 8 8 , 0 6 0
I n c r e a s e s D e c r e a s e s
$ $
( 2 , 5 8 6 , 6 9 3 )
$ ( 2 , 5 8 6 , 6 9 3 ) $
E n d i n g
B a l a n c e
$ 2 0 5 , 2 6 3 , 6 6 8
( 6 9 , 4 6 2 , 3 0 1 )
$ 1 3 5 , 8 0 1 , 3 6 7
A s a m e a n s o f l o w e r i n g b o r r o w i n g c o s t s o n v a r i a b l e r a t e d e b t c o m p a r e d t o f i x e d r a t e b o n d s a t t h e
t i m e o f i s s u a n c e i n N o v e m b e r 2 0 0 3 , O C T A e n t e r e d i n t o t w o p a r i t y i n t e r e s t r a t e s w a p s i n
c o n n e c t i o n w i t h i t s $ 1 9 5 , 2 6 5 , 0 0 0 T o l l R o a d R e v e n u e R e f u n d i n g B o n d s . T h e p a r i t y s w a p s w e r e
e n t e r e d i n t o t o e f f e c t i v e l y c h a n g e O C T A ' s v a r i a b l e r a t e b o n d s t o a s y n t h e t i c a l l y f i x e d r a t e o f
4 . 0 6 2 2 7 % . T h e S e r i e s 2 0 0 3 - B - 1 s w a p w a s f o r $ 7 5 , 0 0 0 , 0 0 0 a n d t h e c o u n t e r p a r t y w a s L e h m a n
B r o t h e r s S p e c i a l F u n d i n g I n c o r p o r a t e d . T h e S e r i e s 2 0 0 3 - B - 2 s w a p w a s f o r $ 2 5 , 0 0 0 , 0 0 0 a n d t h e
c o u n t e r p a r t y w a s B e a r S t e a r n s C a p i t a l M a r k e t s I n c o r p o r a t e d . O n M a y 3 0 , 2 0 0 8 , J P M o r g a n
c o m p l e t e d i t s a c q u i s i t i o n o f T h e B e a r S t e a r n s C o m p a n i e s I n c o r p o r a t e d . A s a r e s u l t o f t h e m e r g e r ,
J P M o r g a n a s s u m e d t h e $ 2 5 , 0 0 0 , 0 0 0 i n t e r e s t r a t e s w a p b e t w e e n O C T A a n d B e a r S t e a r n s C a p i t a l
M a r k e t s I n c o r p o r a t e d . O n M a r c h 1 5 , 2 0 1 1 , O C T A t e r m i n a t e d t h e $ 7 5 , 0 0 0 , 0 0 0 i n t e r e s t r a t e s w a p .
2 3
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
On January 30, 2013, OCTA terminated the $25,000,000 interest rate swap. The investment gain
on the derivative was $1,311,906.
7. Bonds Payable
Taxable Senior Secured Bonds
On January 3, 2003, as part of the purchase agreement, the 91 Express Lanes Fund assumed
$135,000,000 of taxable 7.63% Senior Secured Bonds. On November 12, 2003, the taxable bonds
were refunded as noted below. As required by the tax-exempt bond indenture, OCTA paid a
$26,428,197 Yield Maintenance Premium in connection with the defeasance of the Senior Secured
Bonds, which is deferred and amortized over the life of the Series 2003 tax-exempt bonds on the
straight line basis.
Toll Road Revenue Refunding Bonds
On November 12, 2003, OCTA issued $195,265,000 in Toll Road Revenue Refunding Bonds
(91 Express Lanes) Series 2003-A, Series 2003-B-l and Series 2003-B-2 to refund the $135,000,000
taxable 7.63% Senior Secured Bonds and to reimburse OCTA for a portion of its payment of the
costs of acquiring the Toll Road and certain other property and interests associated with the Toll
Road. The $95,265,000 Series 2003-A Bonds were issued as fixed rate bonds. The $75,000,000
Series 2003-B-1 Bonds and the $25,000,000 Series 2003-B-2 Bonds (collectively the "Series 2003-B
Bonds") were issued as adjustable rate bonds.
On November 24, 2008, OCTA remarketed the $100,000,000 Series 2003-B Bonds, which were
purchased by the Orange County Investment Pool (OCIP). In connection with the mandatory
tender of the Series 2003-B Bonds required by the Indenture, the interest rate was converted to a
Long Term Interest Rate equal to the OCIP Rate. On December 20, 2010, OCTA entered into a
new transaction with OCIP for the Series 2003-B Bonds at a 1.55% rate. The Series 2003-B Bonds
have a mandatory tender date of August 15, 2013. On May 13, 2013, the board approved the
restructuring of the bonds prior to the mandatory tender date. Refer to note 11.
24
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
A s u m m a r y o f t h e t e r m s o f t h e T o l l R o a d R e v e n u e R e f u n d i n g B o n d s i s a s f o l l o w s :
I s s u a n c e d a t e
O r i g i n a l i s s u e a m o u n t
C a s h r e s e r v e r e q u i r e m e n t s
C a s h r e s e r v e b a l a n c e
I n t e r e s t r a t e
M a t u r i t y
P r i n c i p a l p a y m e n t d a t e
B a l a n c e a s o f 0 6 / 3 0 / 1 3
U n a m o r t i z e d p r e m i u m
D e f e r r e d a m o u n t o n r e f u n d i n g
1 1 / 1 2 / 0 3
$ 1 9 5 , 2 6 5 , 0 0 0
$ 3 8 , 0 1 9 , 5 8 5 *
$ 3 9 , 0 1 7 , 5 8 8
1 . 5 5 % t o 5 . 3 7 5 %
D e c e m b e r 2 0 3 0
A u g u s t 1 5
$ 1 5 5 , 4 6 0 , 0 0 0
$ 4 , 3 9 8 , 4 2 9
( $ 1 6 , 1 0 6 , 0 7 3 )
* P u r s u a n t t o t h e 2 0 0 3 T o l l R o a d R e v e n u e R e f u n d i n g B o n d s M a s t e r I n d e n t u r e o f T r u s t , f o u r
r e s e r v e f u n d s a r e m a i n t a i n e d w i t h r e q u i r e d b a l a n c e s a s f o l l o w s : R e s e r v e F u n d $ 1 2 , 6 3 4 , 7 9 2 ;
S u p p l e m e n t a l R e s e r v e F u n d $ 1 2 , 6 3 4 , 7 9 3 ; M a j o r M a i n t e n a n c e R e s e r v e F u n d $ 1 0 , 0 0 0 , 0 0 0 ; a n d
O p e r a t i n g R e s e r v e F u n d $ 2 , 7 5 0 , 0 0 0 . A t J u n e 3 0 , 2 0 1 3 , a l l r e s e r v e r e q u i r e m e n t s h a v e b e e n
s a t i s f i e d .
A n n u a l d e b t s e r v i c e r e q u i r e m e n t s o n t h e t a x - e x e m p t b o n d s a s o f J u n e 3 0 , 2 0 1 3 , a r e a s f o l l o w s :
Y e a r e n d i n g J u n e 3 0
2 0 1 4
2 0 1 5
2 0 1 6
2 0 1 7
2 0 1 8
2 0 1 9 - 2 0 2 3
2 0 2 4 - 2 0 2 8
2 0 2 9 - 2 0 3 1
T o t a l
P r i n c i p a l
$ 5 , 5 2 5 , 0 0 0
5 , 8 1 5 , 0 0 0
6 , 1 3 0 , 0 0 0
6 , 4 6 0 , 0 0 0
6 , 8 0 0 , 0 0 0
3 9 , 5 2 5 , 0 0 0
4 9 , 6 6 0 , 0 0 0
3 5 , 5 4 5 , 0 0 0
$ 1 5 5 , 4 6 0 , 0 0 0
I n t e r e s t
$ 4 , 2 1 7 , 3 5 6
3 , 9 2 6 , 5 8 8
3 , 6 1 3 , 0 3 1
3 , 2 8 2 , 5 4 4
2 , 9 4 2 , 9 6 9
9 , 6 0 1 , 7 9 2
4 , 7 4 7 , 6 5 0
8 5 0 , 2 9 1
$ 3 3 , 1 8 2 , 2 2 1
T o t a l
$ 9 , 7 4 2 , 3 5 6
9 , 7 4 1 , 5 8 8
9 , 7 4 3 , 0 3 1
9 , 7 4 2 , 5 4 4
9 , 7 4 2 , 9 6 9
4 9 , 1 2 6 , 7 9 2
5 4 , 4 0 7 , 6 5 0
3 6 , 3 9 5 , 2 9 1
$ 1 8 8 , 6 4 2 , 2 2 1
T h e i n t e r e s t r a t e u s e d t o d e t e r m i n e t h e f u t u r e a n n u a l d e b t s e r v i c e r e q u i r e m e n t s f o r t h e
S e r i e s 2 0 0 3 - B B o n d s w a s t h e 1 . 5 5 % O C I P r a t e a t J u n e 3 0 , 2 0 1 3 . A s r a t e s v a r y , b o n d i n t e r e s t
p a y m e n t s w i l l v a r y .
2 5
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
Changes in Long-Term Liabilities
Long-term liabilities activity for the year ended June 30, 2013, was as follows:
Beginning Ending Due within
Balance Additions Reductions Balance One Year
Tax-exempt bonds $160,705,000 $ $5,245,000 $155,460,000 $5,525,000
Unamortized premium 4,650,970 252,541 4,398,429
Total long-term liabilities $165,355,970 $ $5,497,541 $159,858,429 $5,525,000
Pledged Revenue
The 91 Express Lanes debt issuance outstanding is repaid and secured by the pledging of certain
revenues, as defined in the debt agreement. The amount and term of the remainder of this
commitment is indicated in the debt service to maturity table. The purpose for which the
proceeds of the debt issuance were utilized is disclosed in the debt description. Pursuant to the
2003 Toll Road Revenue Refunding Bonds Master Indenture of Trust, the 91 Express Lanes Fund
will covenant to fix and prescribe toll rates for each type of vehicle and each time of day sufficient
to produce adjusted net toll revenues for each fiscal year at least equal to 1.3 times annual debt
service. Adjusted net toll revenues includes tolls and investment earnings on specified reserve
accounts minus operating expenses, excluding depreciation and interest expense.
Pledged revenue for the year ended June 30, 2013, was as follows:
Description of
Pledged Revenue
91 Express Lanes Net
Toll Road Revenue
Annual Amount of Net
Pledged Revenue
$26,271,899
8. Transfers to Other OCT A Funds
Annual Debt
Service Payments
$10,225,511
Pledged Revenue
Coverage
2.57
For the year ended June 30, 2013, the 91 Express Lanes Fund transferred $1,177 to OCT A's Local
Transportation Authority (LTA) Fund for the Riverside Freeway (SR-91) Eastbound Project right-
of-way capital expenditures and support services.
9. Commitments and Contingencies
Operator Agreement
In connection with the purchase of the toll facility interest, OCT A entered into an operating
agreement with Cofiroute Global Mobility, subsequently Cofiroute USA, LLC (Cofiroute), to
provide operating services in the annual amount of $4,994,000 plus inflation for three initial years
26
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
w i t h t w o o n e - y e a r e x t e n s i o n o p t i o n s , s u b j e c t t o B o a r d o f D i r e c t o r s a p p r o v a l . T h e a g r e e m e n t w a s
i n e f f e c t f r o m J a n u a r y 3 , 2 0 0 3 t h r o u g h J a n u a r y 2 , 2 0 0 6 . O n J a n u a r y 6 , 2 0 0 6 , O C T A e n t e r e d i n t o a
s e c o n d o p e r a t i n g a g r e e m e n t w i t h C o f i r o u t e , e f f e c t i v e J a n u a r y 3 , 2 0 0 6 t h r o u g h J a n u a r y 2 , 2 0 1 1 .
T h e a n n u a l a m o u n t o f t h e b a s e c o n t r a c t i s $ 5 , 4 4 8 , 7 6 8 p l u s i n f l a t i o n a d j u s t m e n t s a f t e r t h e f i r s t
y e a r . T h e a g r e e m e n t c a r r i e d t w o t w o - y e a r e x t e n s i o n o p t i o n s t h r o u g h J a n u a r y 2 , 2 0 1 5 . O n J u n e
2 7 , 2 0 1 1 , t h e O C T A B o a r d o f D i r e c t o r s a p p r o v e d a s u b s e q u e n t a m e n d m e n t t o t h e o p e r a t i n g
a g r e e m e n t w i t h C o f i r o u t e , w h i c h a u t h o r i z e s t h e a d d i t i o n o f t w o f i v e - y e a r e x t e n s i o n o p t i o n s
b e g i n n i n g J u l y 1 , 2 0 1 1 t h r o u g h J u n e 3 0 , 2 0 1 6 f o r t h e f i r s t e x t e n s i o n t e r m a n d b e g i n n i n g J u l y 1 ,
2 0 1 6 t h r o u g h J u n e 3 0 , 2 0 2 1 a s t h e s e c o n d e x t e n s i o n t e r m . C o f i r o u t e i s r e s p o n s i b l e f o r t h e d a y - t o -
d a y o p e r a t i o n s o f t h e t o l l f a c i l i t y .
P u r c h a s e C o m m i t m e n t s
T h e 9 1 E x p r e s s L a n e s h a s v a r i o u s o u t s t a n d i n g c o n t r a c t s . T o t a l p u r c h a s e c o m m i t m e n t s a t
J u n e 3 0 , 2 0 1 3 w e r e $ 3 4 , 6 3 1 , 3 7 4 , t h e m o s t s i g n i f i c a n t i s w i t h C o f i r o u t e a s n o t e d a b o v e .
L e a s e C o m m i t m e n t s
T h e 9 1 E x p r e s s L a n e s F u n d i s c o m m i t t e d u n d e r t w o n o n - c a n c e l a b l e l e a s e s f o r o f f i c e s p a c e . T h e s e
l e a s e s a r e c o n s i d e r e d f o r a c c o u n t i n g p u r p o s e s t o b e o p e r a t i n g l e a s e s . L e a s e e x p e n s e s f o r t h e y e a r
e n d e d J u n e 3 0 , 2 0 1 3 w e r e $ 3 7 1 , 7 8 3 .
F u t u r e m i n i m u m p a y m e n t s f o r t h e s e l e a s e s a p p r o x i m a t e t h e f o l l o w i n g :
F o r t h e y e a r e n d i n g J u n e 3 0 :
2 0 1 4
2 0 1 5
2 0 1 6
2 0 1 7
2 0 1 8
2 0 1 9
T o t a l
2 7
$
$
3 1 7 , 1 4 4
3 1 6 , 1 9 8
3 2 3 , 9 8 7
3 3 2 , 0 3 3
8 2 , 2 8 0
2 0 , 7 3 1
1 , 3 9 2 , 3 7 3
91 Express Lanes Fund
Notes to the Financial Statements
Year Ended June 30, 2013
10. Cumulative Effect of a Change in Accounting Principle
During the fiscal year, OCTA implemented GASB 65, Items Previously Reported as Assets and
Liabilities. It was determined that debt issuance costs do not meet the definition of an asset or a
deferred outflow and should be recognized as an outflow of resources in the reporting period in
which they are incurred. The impact of this change in accounting principle was to write off the
cost of issuance balance as of July 1, 2012 and to restate the beginning net position by $2,621,329.
Also, the implementation of GASB 63, Financial Reporting of Deferred Outflows of Resources,
Deferred Inflows of Resources, and Net Position, resulted in the reclassification of deferred
refunding charges as explained below:
Deferred charge on refunding
Unamortized bond issuance cost
Tax-exempt bonds
Net position unrestricted
Net position beginning of the year
11. Subsequent Events
$
FY 2012
Previously
Presented
2,621,329
143,531,121
39,233,750
63,722,315
$
FY 2012
Restatement Restated
17,173,879 $ 17,173,879
(2,621,329)
17,173,879 160,705,000
(2,621,329) 36,612,421
(2,621,329) 61,100,986
On July 30, 2013, OCT A issued $124,415,000 in Senior Lien Toll Road Revenue Refunding Bonds
(91 Express Lanes), Series 2013 to refund the outstanding Toll Road Revenue Refunding Bonds
(91 Express Lanes) Series 2003-A, Series 2003-B-1 and Series 2003-B-2. OCTA refunded the
outstanding Series 2003-A bonds to reduce its total debt service payments over the life of the
bonds and refunded the Series 2003-B-1 and Series 2003-B-2 bonds to address the mandatory
tender date of August 15, 2013 for the existing private placement with the Orange County
Investment Pool. The Series 2013 Bonds were issued as fixed rate bonds and had a true interest
cost of 3.83 percent. The transaction closed on August 8, 2013.
12. Effect of New Pronouncements:
GASB Statement No. 66
In March 2012, GASB issued Statement No. 66, Technical Corrections -2012 -an amendment
of GASB Statements No. 10 and No. 62. The objective of this statement is to improve
accounting and financial reporting for a governmental financial reporting entity by resolving
conflicting guidance that resulted from the issuance of two pronouncements, Statements No.
54, Fund Balance Reporting and Governmental Fund Type Definitions and No 62,
28
•
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•
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9 1 E x p r e s s L a n e s F u n d
N o t e s t o t h e F i n a n c i a l S t a t e m e n t s
Y e a r E n d e d J u n e 3 0 , 2 0 1 3
C o d i f i c a t i o n o f A c c o u n t i n g a n d F i n a n c i a l R e p o r t i n g G u i d a n c e C o n t a i n e d i n P r e - N o v e m b e r
3 0 , 1 9 8 9 F A S B a n d A I C P A P r o n o u n c e m e n t s . T h i s s t a t e m e n t i s e f f e c t i v e f o r O C T A ' s f i s c a l y e a r
e n d i n g J u n e 3 0 , 2 0 1 4 .
G A S B S t a t e m e n t N o . 6 7
I n J u n e 2 0 1 2 , G A S B i s s u e d S t a t e m e n t N o . 6 7 , F i n a n c i a l R e p o r t i n g f o r P e n s i o n P l a n s - a n
a m e n d m e n t o f G A S B S t a t e m e n t N o . 2 5 . T h e o b j e c t i v e o f t h i s s t a t e m e n t i s t o i m p r o v e
f i n a n c i a l r e p o r t i n g b y s t a t e a n d l o c a l g o v e r n m e n t a l p e n s i o n p l a n s . T h i s s t a t e m e n t i s e f f e c t i v e
f o r O C T A ' s f i s c a l y e a r e n d i n g J u n e 3 0 , 2 0 1 4 .
G A S B S t a t e m e n t N o . 6 8
I n J u n e 2 0 1 2 , G A S B i s s u e d S t a t e m e n t N o . 6 8 , A c c o u n t i n g a n d F i n a n c i a l R e p o r t i n g f o r
P e n s i o n s - a n a m e n d m e n t o f G A S B S t a t e m e n t N o . 2 7 . T h e p r i m a r y o b j e c t i v e o f t h i s
S t a t e m e n t i s t o i m p r o v e a c c o u n t i n g a n d f i n a n c i a l r e p o r t i n g b y s t a t e a n d l o c a l g o v e r n m e n t s
f o r p e n s i o n s . I t a l s o i m p r o v e s i n f o r m a t i o n p r o v i d e d b y s t a t e a n d l o c a l g o v e r n m e n t a l
e m p l o y e r s a b o u t f i n a n c i a l s u p p o r t f o r p e n s i o n s t h a t i s p r o v i d e d b y o t h e r e n t i t i e s . T h i s
s t a t e m e n t i s e f f e c t i v e f o r O C T A ' s f i s c a l y e a r e n d i n g J u n e 3 0 , 2 0 1 5 .
G A S B S t a t e m e n t N o . 6 9
I n J a n u a r y 2 0 1 3 , G A S B i s s u e d S t a t e m e n t N o . 6 9 , G o v e r n m e n t C o m b i n a t i o n s a n d D i s p o s a l s o f
G o v e r n m e n t O p e r a t i o n s . T h i s S t a t e m e n t e s t a b l i s h e s a c c o u n t i n g a n d f i n a n c i a l r e p o r t i n g
s t a n d a r d s r e l a t e d � t o g o v e r n m e n t c o m b i n a t i o n s a n d d i s p o s a l s o f g o v e r n m e n t o p e r a t i o n s . A s
u s e d i n t h i s S t a t e m e n t , t h e t e r m g o v e r n m e n t c o m b i n a t i o n s i n c l u d e s a v a r i e t y o f t r a n s a c t i o n s
r e f e r r e d t o a s m e r g e r s , a c q u i s i t i o n s , a n d t r a n s f e r s o f o p e r a t i o n s . T h i s s t a t e m e n t i s e f f e c t i v e f o r
O C T A ' s f i s c a l y e a r e n d i n g J u n e 3 0 , 2 0 1 5 .
G A S B S t a t e m e n t N o . 7 0
I n A p r i l 2 0 1 3 , G A S B i s s u e d S t a t e m e n t N o . 7 0 , A c c o u n t i n g a n d F i n a n c i a l R e p o r t i n g f o r
N o n e x c h a n g e F i n a n c i a l G u a r a n t e e s . T h i s S t a t e m e n t r e q u i r e s a g o v e r n m e n t t h a t e x t e n d s a
n o n e x c h a n g e f i n a n c i a l g u a r a n t e e t o r e c o g n i z e a l i a b i l i t y w h e n q u a l i t a t i v e f a c t o r s a n d
h i s t o r i c a l d a t a , i f a n y , i n d i c a t e t h a t i t i s m o r e l i k e l y t h a n n o t t h a t t h e g o v e r n m e n t w i l l b e
r e q u i r e d t o m a k e a p a y m e n t o n t h e g u a r a n t e e . A d d i t i o n a l l y , t h i s S t a t e m e n t r e q u i r e s a
g o v e r n m e n t t h a t h a s i s s u e d a n o b l i g a t i o n g u a r a n t e e d i n a n o n e x c h a n g e t r a n s a c t i o n t o
r e c o g n i z e r e v e n u e t o t h e e x t e n t o f t h e r e d u c t i o n i n i t s g u a r a n t e e d l i a b i l i t i e s . T h i s S t a t e m e n t
a l s o r e q u i r e s a g o v e r n m e n t t h a t i s r e q u i r e d t o r e p a y a g u a r a n t o r f o r m a k i n g a p a y m e n t o n a
g u a r a n t e e d o b l i g a t i o n o r l e g a l l y a s s u m i n g t h e g u a r a n t e e d o b l i g a t i o n t o c o n t i n u e t o r e c o g n i z e
a l i a b i l i t y u n t i l l e g a l l y r e l e a s e d a s a n o b l i g o r . T h i s s t a t e m e n t i s e f f e c t i v e f o r O C T A ' s f i s c a l
y e a r e n d i n g J u n e 3 0 , 2 0 1 4 .
2 9
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S U P P L E M E N T A L
" I N F O R M A T I O N
"
PROJECT COST:
$180 million (estimated)
FINANCING:
Tolls will be used as the primary funding source
for the project.
TOLLING:
The connector bridge will be a tolled facility
that will utilize variable pricing to manage traffic
volumes to balance additional traffic from the
connector with the eastbound traffic traveling on
the 91 Express Lanes .
•-Fact Sheet as of 10/28/13
m • T.ran.!:pOrlltlion Cortl dor A.,,,ndH'
PROJECT DESCRIPTION
A new single-lane, bi-directional, bridge will be built that will provide a direct connection
from northbound 241 Toll Road to the center median of the eastbound 91 Express Lanes
and from the westbound 91 Express Lane,s to the southbound 241 Toll Road . The project
ties into the westernmost limits of the Riverside County Transportation Commission's
91 Corridor Improvement Project, which will extend the 91 Express Lanes east to 1-15.
PROJECT BENEFITS
Enhances overall regional connectivity I improves operations
• Direct toll-to-toll connection between the SR-241 and 91 Express Lanes
• Reduces current and projected congestion along portions of SR-91 and SR-55
by providing an alternative travel route in northeast Orange County
• Provides an additional access point to 91 Express Lanes
• Reduces weaving movement from outside general purpose connector to inside
91 Express Lanes
• Reduce the queues on SR-241 general purpose connector (potential to ease traffic
congestion including peak evening traffic at the Windy Ridge northeast connector)
PROJECT LANE DIAGRAM
The connection between the SR-241 and
the 91 Express Lanes will carry northbound
SR-241 traffic to the eastbound SR-91
Express Lanes and carry westbound 91
Express Lanes traffic to the southbound
SR-241.
Outside widening would be required
mainly on the south side of the SR-91 for
realignment of eastbound lanes up to the
Coal Canyon Wild Life Corridor Crossing.
PROJECT HISTORY
Direct connector ramps between the 241 Toll Road and
91 Express Lanes were originally included in the ultimate plans
for the 241 Toll Road as High Occupancy Vehicle (HOV) direct
connection ramps to the planned HOV lanes in the median
of SR-91. The original HOV lane concept was converted to
the 91 Express Lanes , which opened to traffic in 1995. The
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PROJECT HISTORY Tl MELINE
1994 Ultimate Buildout Concept
1995 91 Express Lanes Open
1999 SR-241 Toll Road Opens
2002 TCA Feasibility Study
2003 OCTA purchases 91 Express Lanes
tOIJ I Tl8'
2006 Riverside-Orange County Major Investment Study
2008 OCTA Feasibility Study
2011
Project Study Report I Project Report Kickoff,
Traffic and Revenue Study Complete
•
241 Toll Road connection to the 91 Freeway opened in 1999.
Feasibility studies were conducted by the TCA in 2002 and by
OCTA in 2008 to identify conceptual alternatives for the fina l
design of direct connector ramps to the 91 Express Lanes. In
2011, OCTA completed a Grade 2 Traffic and Revenue Study for
the 241 I 91 Direct Connector Project. 2012 Project Study Report I Project Development Approval
2013 Project Approval I Environmental Documentation Phase
NEXT STEPS
• The project report and environmental document is anticipated to be completed by mid 2015.
• Subject to approval, design and construction would begin in mid 2015.
• Construction is targeted for opening concurrent with the RCTC SR-91 Corridor Improvement Project (mid 2017).
PROJECT PARTNERS
Orange County Transportation Authority, Transportation Corridor Agencies , and the California
Department of Transportation's District 8 and 12.
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OCTA
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ESSACCOUNT™ • Express Accounts will be available for customer sign ups in January 2014 • Express Accounts can only be used on the 73, 133, 241 and 261 Toll Roads • Cash collection will be removed mid-2014 4
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