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12 December 4, 2015 State Route 91 Advisory• • • m OCTA Committee Members Berwin Hanna, RCTC, Chairman Al Murray, OCT A, Vice Chairman Ben Benoit, RCTC Michael Hennessey, OCTA Bob Magee, RCTC Shawn Nelson, OCTA Karen Spiegel, RCTC Todd Spitzer, OCTA Tom Tait, OCTA John Tavaglione, RCTC Jeffrey Lalloway, OCTA, Alternate Kevin Jeffries, RCTC, Alternate Tim Shaw, OCTA, Alternate Ed Graham, SANBAG, Ex-Officio Ryan Chamberlain, Ca/trans Dist. 12, Ex-Officio John Bulinksi, Ca/trans Dist. 8, Ex-Officio AGENDA State Route 91 Advisory Committee Meeting Orange County Transportation Authority Headquarters 600 South Main Street First Floor -Room 154 Orange, California Friday, December 4, 2015, at 9:00 a.m. Any person with a disability who requires a modification or accommodation in order to participate in this meeting should contact the OCTA Clerk of the Board, telephone (714) 560-5676, no less than two (2) business days prior to this meeting to enable OCTA to make reasonable arrangements to assure accessibility to this meeting. Agenda descriptions are intended to give members of the public a general summary of items of business to be transacted or discussed. The posting of the recommended actions does not indicate what action will be taken. The Committee may take any action which it deems to be appropriate on the agenda item and is not limited in any way by the notice of the recommended action. All documents relative to the items referenced in this agenda are available for public inspection at www.octa.net or through the Clerk of the Board's office at the OCTA Headquarters, 600 South Main Street, Orange, California . Page 1of4 COMM-SR91AC-00005 m OCTA AGENDA State Route 91 Advisory Committee Meeting Call to Order Pledge of Allegiance Member Nelson 1. Public Comments Special Calendar There are no Special Calendar matters. 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 • Approval of minutes of the State Route 91 Advisory Committee meeting of • May 29, 2015. 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 May 2015 through October 2015 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 May 2015 through October 2015. Page 2 of 4 • • • • m OCTA AGENDA State Route 91 Advisory Committee Meeting 4. Fiscal Year 2014-15 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 2014-15 and has issued its independent auditor's opinion. A copy of the audited financial statements is attached for State Route 91 Advisory Committee review. Recommendation Receive and file the Fiscal Year 2014-15 91 Express Lanes Annual Financial Statements. Regular Calendar There are no Regular Calendar matters. Discussion Items 5. 91 Express Lanes -20-Year Anniversary Stella Lin, External Affairs, Orange County Transportation Authority On December 27, 2015, the 91 Express Lanes will celebrate its 20-year anniversary since it carried its first vehicle in 1995. Staff will commemorate this milestone and present a marketing campaign developed to increase awareness and usage, and create a positive perception of the 91 Express Lanes. 6. 241/91 Express Lanes Connector Project Update David Lowe, Director, Design & Construction, Transportation Corridor Agencies Work is underway to advance a toll-to-toll connector between State Route 241 and the 91 Express Lanes. A project status report and information on concept of operation will be presented. 7. General Manager's Report 8. Committee Members' Reports Page 3of4 m OCTA AGENDA State Route 91 Advisory Committee Meeting 9. Closed Session There is no Closed Session scheduled. 10. Adjournment The next regularly scheduled meeting of this Committee will be held at 9:00 a.m. on Friday, March 4, 2016, at: City of Corona -City Hall 400 South Vicentia Avenue Council Chambers -First Floor Corona, California Page 4 of 4 • • • • • • • • MINUTES State Route 91 Advisory Committee Meeting Committee Members Present Berwin Hanna, RCTC, Chairman Al Murray, OCTA, Vice Chairman Michael Hennessey, OCTA Bob Magee, RCTC Karen Spiegel, RCTC Todd Spitzer, OCTA Tom Tait, OCTA Lisa Ramsey for Ryan Chamberlain, Ca/trans District 12, Ex-Officio John Bulinksi, Ca/trans District 8, Ex-Officio Committee Members Absent Ben Benoit, RCTC Shawn Nelson, OCTA John Tavaglione, RCTC Ed Graham, SANBAG, Ex-Officio Call to Order Staff Present Anne Mayer, RCTC, Executive Director Darrell Johnson, OCTA, Chief Executive Officer Ken Phipps, OCTA, Deputy Chief Executive Officer Kirk Avila, OCTA, General Manager of the 91 Express l.'anes Michael Blomquist, RCTC, Toll Program Director Laurena Weinert, OCTA, Clerk of the Board Olga Prado, OCTA, Assistant Clerk of the Board Steven DeBaun, RCTC, Legal Counsel OCTA and RCTC Staff and General Public The May 29, 2015, meeting of the State Route 91 Advisory Committee was called to order by Committee Chairman Hennessey at 9:03 a.m. at the City of Corona -City Hall, 400 South Vicentia Avenue, Council Chambers -First Floor, Corona, California. Pledge of Allegiance Member Murray led in the Pledge of Allegiance. 1. Public Comments No public comments were received. Special Calendar 2. Election of New State Route 91 Advisory Committee Chairman Committee Chairman Hennessey opened nominations for the office of Committee Chairman. A motion was made by Member Magee, seconded by Member Spiegel, and declared passed by those present, to approve Berwin Hanna as the Committee Chairman for the State Route 91 Advisory Committee. May 29, 2015 Page 1of5 MINUTES State Route 91 Advisory Committee Meeting • 3. Election of New State Route 91 Advisory Committee Vice Chairman Newly-elected Chairman Hanna opened nominations for office of Committee Vice Chairman. A motion was made by Member Spiegel, seconded by Member Hennessey, and declared passed by those present, to approve Al Murray as the Committee Vice Chairman for the State Route 91 Advisory Committee. Consent Calendar (Items 4 through 6) 4. Approval of Minutes 5. A motion was made by Committee Vice Chairman Murray, seconded by Member Magee, and declared passed by those present, to approve the minutes of the December 5, 2014 meeting. Member Magee abstained due to not being present at the December 5, 2014 meeting. 91 Express Lanes Monthly Status Reports A motion was made by Committee Vice Chairman Murray, seconded by Member Magee, and declared passed by those present, to receive and file the 91 Express Lanes Monthly Status Reports for the months of November 2014 through April 2015. 6. 91 Express Lanes Anaheim Facility Lease Renewal Member Spitzer pulled this item and commented on the Orange County Transportation Authority (OCTA) partnership and agreement with the Riverside County Transportation Commission (RCTC) for the 91 Express Lanes Anaheim facility lease renewal. Member Spitzer asked Anne Mayer, Executive Director of RCTC, for her perspective in regards to this item and partnership with OCT A. Ms. Mayer responded that this item is another example of RCTC and OCT A having a solid partnership to jointly manage the corridor that is cost-effective and efficient. After a discussion ensued, a motion was made by Member Spitzer, seconded by Member Spiegel, and declared passed by those present, to receive and file as an information item. May 29, 2015 Page 2 of 5 • • • • • MINUTES State Route 91 Advisory Committee Meeting Regular Calendar 7. 2015 State Route 91 Implementation Plan Alison Army, Senior Transportation Analyst for OCTA, presented the 2015 State Route (SR) 91 Implementation Plan: • Background; • Completed projects; • Plan projects by 2019, 2025, and 2035; • 91 Corridor Improvement Project initial phase; • State Route 241 (SR-241 )/91 Express Lanes Connector; and • Recommendations/next steps. A discussion ensued regarding the lead agency for the SR-241/91 Express Lanes connector. OCTA feels that the existing cooperative agreement between the California Department of Transportation and the Transportation Corridor Agencies (TCA) is beneficial for project delivery and if the agreement changes, OCTA would like an opportunity to revisit. Member Spitzer asked David Lowe, Acting Chief Engineer from the TCA, to provide a status on the Stantec (consultant firm) traffic and revenue (T&R) study for the SR-241/91 Express Lanes connector. Mr. Lowe responded that the Stantec contract was approved by the TCA Board in 2014, and was placed on hold. In addition, the TCA will be performing traffic measurements in September 2015, once school is back in session, and then proceed with the T&R study, which should be completed in early 2016. After a discussion ensued, a motion was made by Member Spitzer, seconded by Committee Vice Chairman Murray, and declared passed by those present, to receive and file as an information item. Discussion Items 8. 91 Project Update Michael Blomquist, Toll Program Director for RCTC, presented the following: • • • • • • SR-91 toll road; Upcoming projects; Tolling facilities in Anaheim (build-out); Public outreach; Aesthetics and landscaping (presented a video); Interstate 15 (1-15) Express Lanes . May 29, 2015 Page 3 of 5 MINUTES State Route 91 Advisory Committee Meeting • 8. (Continued) The Committee and RCTC/OCTA staff discussed the following: • • • • • • • • • 91 Express Lanes re-pavement and maintenance status; Member Spitzer requested the costs differential of the day versus night routine maintenance on the 91 Express Lanes and requested to agendize an item for the OCTA Finance and Administration Committee; RCTC express lanes access points and that RCTC evaluated the continuous access points. For the initial build, the continuous access points will not be included; Concerns regarding the westbound bottleneck at the SR-55 and continuous access points for the 91 Express Lanes in Orange County; 91 Express Lanes commuters using streets in Anaheim; OCTA will conduct an operational study to review continuous access on the 91 Express Lanes; 1-15 Express Lanes project and mountain lion migration concerns; Riverside County's multi-species mitigation program; Member Spitzer requested a meeting to discuss the environmental mitigations with the various agencies (i.e., RCTC, OCTA, TCA, and San Diego County). 9. General Manager's Report Kirk Avila, General Manager of the 91 Express Lanes for OCTA, reported that: • As of last week, there has been a five percent increase in traffic and revenues for the month of May. • Fiscal year-to-date through last week, traffic is up about six percent, and revenues are up about eight percent. • Effective July 1, 2015, the cost of living will be adjusted by three percent. • A time-lapse photography was shown of an incident that occurred on May 22 around 8:00 a.m. on the 91 Express Lanes. 10. Committee Members' Reports Committee Chairman Hanna announced that on May 30, the City of Norco is having a BBQ contest and brew festival, and also mentioned a calf dressing contest. Member Spitzer suggested that each agency (i.e., OCTA, RCTC, and TCA) put together a team to compete in the calf dressing contest. • Committee Vice Chairman Murray announced that on June 7, the City of Tustin will have its' annual chili cook-off and street fair. He also congratulated • Committee Chairman Hanna on being elected Committee Chairman. May 29, 2015 Page 4 of 5 MINUTES • State Route 91 Advisory Committee Meeting • • 10. (Continued) Member Magee announced that tonight at "Storm" stadium, the City of Lake Elsinore will host the National Collegiate Athletic Association baseball championship between San Diego State and University of California, Santa Barbara. In addition, this weekend will be the "Lucas Oil Off-Road Racing Series" in Lake Elsinore, which will be covered live on CBS and MAV TV. 11. Closed Session A Closed Session was not conducted at this meeting. 12. Adjournment The meeting adjourned at 10:15 a.m . . The next regularly scheduled meeting of this Committee will be held: ATTEST Friday, August 7, 2015 at 9:00 a.m. OCTA Headquarters Board Room -First Floor 600 South Main Street Orange, California Laurena Weinert Clerk of the Board Orange County Transportation Authority Berwin Hanna Committee Chairman May 29, 2015 Page 5 of 5 •• 3 . • •m OCTA • • December 4, 2015 To: State Route 91 Advisory Committee From: Kirk Avila~eneral Manager, 91 Express Lanes Subject: 91 Express Lanes Monthly Status Reports Overview The 91 Express Lanes status reports for the months of May 2015 through October 2015 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 May 2015 through October 2015. Background Monthly status reports are prepared to document 91 Express Lanes activity and are provided for State Route 91 Advisory Committee review. Discussion The May 2015 status report for the 91 Express Lanes is provided in Attachment A. In May 2015, traffic volume in the 91 Express Lanes increased 4.9 percent over the same period in 2014 and gross potential toll revenue increased by 5.5 percent as compared to the prior year. The June 2015 status report for the 91 Express Lanes is provided in Attachment B. In June 2015, traffic volume in the 91 Express Lanes increased 11.1 percent and gross potential toll revenue increased by 13.8 percent as compared to the prior year. The July 2015 status report is provided in Attachment C. In July 2015, traffic volume increased by 8.6 percent over the same period in 2014 and gross potential toll revenue increased by 12.2 percent. Orange County Transportation Authority 550 South Main Street I P.O. Box 14184/0range/Califomia 92863-15841(714) 560-0CTA (6282) 91 Express Lanes Monthly Status Reports Page2 • The August 2015 status report for the 91 Express Lanes is provided in Attachment D. In August 2015 traffic volume increased by 5.9 percent over the same period in 2014 and gross potential toll revenue increased by 5.5 percent. The September 2015 status report for the 91 Express Lanes is provided in Attachment E. As compared to the same period last year, in September 2015 traffic volume and gross potential toll revenue increased by 9.3 percent and 10.6 percent, respectively. The October 2015 status report is provided in Attachment F. In October 2015, traffic volume increased by 6.2 percent and gross potential toll revenue increased by 5.3 percent when compared to the same period last year. Fiscal year 2015-16 year-to-date (YTD) traffic volume and toll revenue as of the end of October 2015 increased when compared to the prior year, with YTD traffic volume increasing by 7 .4 percent, and YTD potential toll revenue up by 8.3 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 status report for the months of May 2015 through October 2015 are provided for review. The report highlights operational and financial activities. Attachments A. 91 Express Lanes Status Report-As of May 31, 2015 B. 91 Express Lanes Status Report-As of June 30, 2015 C. 91 Express Lanes Status Report-As of July 31, 2015 D. 91 Express Lanes Status Report-As of August 31, 2015 E. 91 Express Lanes Status Report -As of September 30, 2015 F. 91 Express Lanes Status Report-As of October 31, 2015 • • • • ATTACHMENT A m OCTA Orange County Transportation Authority • ,,, Express ,. Lanes Status Report May 2015 As of May 31, 2015 • • • Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for May 2015 was 1,144,369. This represents a ~:·· daily average of 36,915. This is a 4.9% increase in total traffic volume from the same period last year when traffic levels totaled 1,090,994. Potential toll revenue for the month was $3,400,254 which represents an increase of 5.5% from the prior year's total of $3,223,469. Carpool percentage for the month was 23.51 % as compared to the previous year's rate of 22.53%. Month-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 month of May 2015. Current Month-to-Date (MTD) as of May 31, 2015 Average Full Toll Lanes $3.81 $3.85 ($0.04) (1.0%) $3.78 0.8% Average 3+ Lanes $0.23 $0.28 ($0.05) (17.9%) $0.27 (14.8%) Avera e Gross Revenue $2.97 $3.01 ($0.04) (1.3%) $2.95 0.7% 2 The 2015 fiscal year-to-date (YTD) traffic volume is 5.9% higher than the same period last year . The 2015 fiscal year-to-date revenue is 8.2% higher than for the same period last year. Year-to- date average revenue per-trip is $3.01. 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 2014 through May 2015. FY 2014-15 to Date as of May 31, 2015 "'.If" . fk.:' ·· 'va~i•ri• . 560,459 22,404 Average 3+ Lanes $0.26 $0.29 (10.3%) $0.28 Avera e Gross Revenue $3.01 $3.02 ($0.01) (0.3%) $2.94 2.4% 3 • • • • • • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for FY 2014-15 on a monthly basis. 1,050,000 Ill 875,000 E ::I 0 > 525,000 350,000 175,QOO FY 2014-15 Traffic Volume Overview Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Month •Full Toll Lanes •3+ Lanes The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for FY 2014-15 on a monthly basis. FY 2014-15 Revenue Summary $3,500,000 $3,300,000 $3, 100,000 $2,900,000 $2,700,000 $2,500,000 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Month •Fun Toi! Lanes •3• Lanes 4 Peak traffic hour in the eastbound direction reached or exceeded 90% or more of defined capacity 19 times during the month of May 2015. 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 PM Time 1400-1500 1500-1600 1600-1700 1700-1800 1800-1900 1900-2000 PM Time 1400 · 1500 1500. 1600 1600. 1700 1700. 1800 1800. 1900 1900. 2000 PM Time 1400. 1500 1500. 1600 1600. 1700 1700. 1800 1800. 1900 1900. 2000 PM Time 1400. 1500 1500. 1600 1600 · 1700 1700. 1800 1800 · 1900 1900. 2000 Monday 05/04115 :~: ((ov >¥9J;t ,e.p. $4.55 262 1,879 55% $4.90 508 2,848 84% $4.70 459 3,177 93°/, $4.85 432 2,987 88% $4.90 448 2,238 66% $3.45 269 1,289 38% Monday 05/11/15 ~ ·•·t1~,i;vofit\\,,!,caif4 $4.55 260 1,856 55% $4.90 502 2,961 87% $4.70 427 3,054 90-/, $4.85 390 2,920 86% $4.90 437 2,308 68% $3.45 276 1,215 36% Monday 05118115 .• -~~···'·wi~·. '.f!at!. $4.55 269 1,849 54% $4.90 526 2,953 87% $4.70 413 3,021 89% $4.85 423 2,931 86% $4.90 474 2,437 72% $3.45 265 1,271 37% Monday 05125115 M. <;M~wJ'ivo1:' . eaisj[ $3.75 231 644 19% $3.75 261 663 20% $3.75 299 718 21% $375 278 674 20% $375 324 651 19% $3.75 325 683 20% Tuesday 05/05/15 Price.; tlOV toilili'~•· $4.55 257 1,958 58% $3.70 553 3,192 94'/, $5.95 440 2,972 87% $540 444 3,022 89% $3.60 493 2,670 79% $345 292 1,405 41% Tuesday 05112115 .fMt,if'ttOVit':Vot. ;;;,,c.p. $4.55 232 1,875 55% $3.70 512 3,235 95% $5.95 451 3,123 92% $5.40 475 3,215 95% $3.60 425 2,524 74% $3.45 296 1,439 42% Tuesday 05119/15 ·~ /ll!IOV.ll!)'ol. ··.Cap •. $4.55 262 1,983 58% $3.70 517 3,184 94% $5.95 415 2,968 87% $5.40 425 3,195 94% $3.60 490 2,585 76% $3.45 312 1,478 43% Tuesday 05126/15 !;jllfifi!f/i'li0v• .vo1. ·.cap. $4.55 257 1,841 54% $370 505 3,006 88% $5.95 430 2,902 85% $5.40 458 3,101 91% $3.60 422 2,632 77% $3.45 318 1,451 43% Wednesday Pl'ie&· llOV. $4.55 284 $3.95 506 $7.20 466 $6.70 488 $3.60 464 $345 308 Wednesday ~' llOV $4.55 283 $3.95 514 $7.20 431 $6.70 403 $3.60 460 $3.45 324 Wednesday •itiei''tMOV $455 280 $3.95 500 $7.20 411 $6.70 434 $3.60 486 $3.45 360 Wednesday ~:lfOV $4.55 255 $3.95 409 $7.20 478 $6.70 427 $3.60 444 $3.45 345 04130/15 Friday 05/01/15 Vol. Ctp,; :Prtci i•:ffot >,Vol. Jf C $3.10 396 2,784 82% $9.85 561 2,955 87% $9.65 434 2,925 86% $6.20 443 2,749 81% $5.80 378 2,335 69% $5.45 472 2,243 66% 05/06/15 Thursday 05/07/15 Friday 05/08/15 Wt. e.,,,. p(ke llOV· Vol;• Clil; ·~· 11ov· veil; .c.p; 2,092 62% $470 317 2,310 68% $3.10 357 2,842 84% 3,109 91% $4.60 480 3,099 91% $9.85 507 2,929 86% 3,007 88% $9.50 455 3,040 89% $9.65 474 2,977 88% 3,208 94% $8.80 488 3,213 95% $6.20 414 2,767 81% 2,517 74% $4.40 439 2,625 77% $5.80 364 2,038 60% 1,482 44% $5.00 326 1,626 48% $5.45 332 1,363 40% 05113/15 Thursday 05114115 Friday 05/15115 ••V9J;,: .. Cl.aik .~: .. •'·1'•WIJ •• tt8!1% ;~~<'VlilP (:Ip.· 2,075 61% $4.70 305 2,245 66% $3.10 389 2,860 84% 3,276 96% $4.60 413 2,485 73% $9.85 529 2,872 84% 3,281 97% $9.50 434 2,785 82% $9.65 363 2,625 77% 2,781 82% $8.80 425 2,899 85% $6.20 340 2,426 71% 2,467 73% $4.40 454 2,957 87% $5.80 314 1,742 51% 1,391 41% $5.00 349 1,719 51% $5.45 325 1,313 39% 05120/15 Thursday 05121115 Friday 05/22/15 Vo\'7•~ ~1·¥9J; CMt);· Pl'lce'id~1R' ca 2,110 62% $4.70 315 2,333 69% $3.10 506 3,149 93% 3,053 90'!. $4.60 534 3,240 95'/, $9.85 587 2,836 83% 2,873 85% $9.50 489 3,032 89% $9.65 517 2,935 86% 3,023 89% $8.80 464 2,990 88% $6.20 427 2,419 71% 3,027 89% $4.40 518 2,940 86% $5.80 387 1,931 57% 1,715 50% $5.00 407 1,915 56% $5.45 435 1,504 44% 05/27/15 Thursday 05128/15 Friday 05/29/15 V!IM\c)!ialM ~ii:JKi-ltfa\lfj!j; Clil.' ,. ·ffOv :;~•li'. ·~ll. 1,668 49% $4.70 332 2,357 69% $3.10 417 2,967 87% 2,414 71% $4.60 448 2,926 86% $9.85 524 2,874 85% 3,228 95% $9.50 485 2,926 86% $9.65 514 2,910 86% 3,003 88% $8.80 437 2,966 87% $6.20 427 2,981 88% 2,501 74% $4.40 448 2,826 83% $5.80 462 2,551 75% 1,692 50% $5.00 394 1,835 54% $5.45 418 1,837 54% 5 • • • • • • WESTBOUND PEAK-HOUR VOLUMES AM nme 0400-0500 0500 -0600 0600-0700 0700 -0800 0800 -0900 0900 -1000 AMTime 0400 -0500 0500 -0600 0600 -0700 0700-0800 0800-0900 0900 -1000 AMTime 0400-0500 0500-0600 0600 -0700 0700 -0800 0800 -0900 0900-1000 AMTime 0400 -0500 0500-0600 0600-0700 0700 -0800 0800-0900 0900-1000 AMTime 0400-0500 0500-0600 0600-0700 0700 -0800 0800-0900 0900 -1000 Monday 05104/15 Pric•·';!i/Kov ·· vo1. : <cep. $2.70 375 1,052 31% $4.35 588 1,971 58% $4.55 488 2,069 61% $5.05 381 1,820 54% $4.55 243 1,728 51% $3.60 158 1,280 38% Monday 05/11/15 Price ··HOV·. <Vol. :c.,j;• $2.70 361 1,052 31% $4.35 612 2,052 60% $4.55 458 1,961 58% $5.05 409 1,811 53% $4.55 204 1,668 49% $3.60 194 1,583 47% Monday 05/18/15 Price· ; HQV /,f,tfol.·•~1 Cap;;. $2.70 375 1,061 31% $4.35 585 2,038 60% $4.55 501 2,050 60% $5.05 386 1,841 54% $4.55 214 1,648 48% $3.60 177 1,434 42% Monday 05/25/15 Pilce \tHGV:; ?;;)Vol. qj (;&; $1.45 41 88 3% $1.45 46 114 3% $1.45 38 117 3% $1.45 77 223 7% $2.25 136 370 11% $3.25 240 632 19% Tuesday 05/05115 Prii:e HOV Vol •. :. can~• $2.70 389 1,021 30% $4.35 603 2,004 59% $4.55 502 2,081 61% $5.05 387 1,853 55% $4.55 200 1,682 49% $3.60 170 1,445 43% Tuesday 05/12/15 ·•Pilee. •· •aov1 ·. Vol.· Cap. $2.70 360 970 29% $4.35 608 2,046 60% $4.55 502 1,959 58% $5.05 380 1,833 54% $4.55 221 1,823 54% $3.60 152 1,548 46% Tuesday 05119/15 'P®e <Mit.ov: •Vol. •S-~ $2.70 370 1,023 30% $4.35 616 2,080 61% $4.55 491 2,112 62% $5.05 381 1,785 53% $4.55 212 1,722 51% $3.60 187 1,567 46% Tuesday 05126/15 Pifpe : ·:iHQV• Vol. '"·~:· $2.70 350 1,030 30% $4.35 581 2,024 60% $4.55 497 2,078 61% $5.05 429 1,693 56% $4.55 240 1,611 53% $3.60 180 1,585 47% Thursday Friday 05101/15 'Price HQV .. ·Vol: cap; .•. $2.70 338 914 27% $4.15 574 1,932 57% $4.35 495 1.955 58% $4.90 368 1,722 51% $4.35 219 1,435 42% $3.60 160 1,305 38% Wednesday 05/06/15 Thursday 05107/15 Friday 05108115 Pri~. HQV Vot• '·'4tap. ~:)#QV Voll Cap-PrJct · .H.OV "··Vol:\'·' ~w $2.70 359 989 29% $2.70 367 960 28% $2.70 310 923 27% $4.35 614 2,016 59% $4.35 568 1,956 58% $4.15 541 1.945 57% $4.55 503 2,093 62% $4.55 526 2,130 63% $4.35 420 1,816 53% $5.05 407 1,865 55% $5.05 391 1,790 53% $4.90 291 1,500 44% $4.55 214 1,793 53% $4.55 200 1,709 50% $4.35 208 1,215 36% $3.60 179 1,564 46% $3.60 194 1,629 48% $3.60 130 1,061 31% Wednesday 05/13/15 Thursday 05114/15 Friday 05115115 Price ·11av V.01.h W; ilt~!J::KOIJ·' vii q.p, Prici' HOV)f $2.70 380 1,016 30% $2.70 365 1,012 30% $2.70 328 875 26% $4.35 628 2,082 61% $4.35 568 2,014 59% $4.15 497 1,838 54% $4.55 488 2,101 62% $4.55 445 2,038 60% $4.35 411 1,728 51% $5.05 379 1,801 53% $5.05 353 1,918 56% $4.90 257 1,339 39% $4.55 171 1,578 46% $4.55 178 1,741 51% $4.35 140 1, 179 35% $3.60 205 1,515 45% $3.60 173 1,482 44% $3.60 135 1, 118 33% Wednesday 05/20/15 Thursday 05/21/15 Friday 05/22/15 ·-· HflV:.'•" :V.,1.i~·~··-.jiee,;:, HOV ' '"*'Wi eap. Prli:e' K01J ;.:-~Jt :ccr $2.70 381 1,018 30% $2.70 381 1,074 32% $2.70 303 907 27% $4.35 598 1,953 57% $4.35 583 2,019 59% $4. 15 523 1,801 53% $4.55 482 2,003 59% $4.55 487 2,029 60% $4.35 471 1,867 55% $5.05 432 1,885 55% $5.05 383 1,769 52% $4.90 299 1,391 41% $4.55 239 1,747 51% $4.55 236 1,625 48% $4.35 162 1,084 32% $3.60 222 1,638 48% $3.60 217 1,328 39% $3.60 177 1,105 33% Wednesday 05/27/15 Thursday 05/28115 Friday 05/29/15 ·-'HOV' Vok 70~-:pfjce ';\~HOV'~ ·Vo[ . c•. P.!~'J'irw lCl'Vol;'' Cap, $2.70 376 1,028 30% $2.70 366 973 29% $2.70 355 922 27% $4.35 589 1,915 56% $4.35 606 2,072 61% $4.15 545 1,848 54% $4.55 509 2,174 64% $4.55 510 2,037 60% $4.35 483 1,884 55% $5.05 423 1,876 55% $5.05 386 1,703 50% $4.90 336 1,614 47% $4.55 219 1,674 49% $4.55 217 1,700 50% $4.35 204 1,281 38% $3.60 179 1,444 42% $3.60 210 1,498 44% $3.60 200 1,158 34% 6 Performance Measures Period Perform a nee REPORTING REQUIREMENT I Repo.rting J PERFORMANCESTANDARD 1' May-15 N.<-/, "' « ~~ "' = "'~ 0 »: 0 m " ~ ~ ' y ~ CUSTOM ER SERVICE Gall Wait Time Abandon Rate Customer Satisfaction Monthly Monthly Monthly Convert Violators to Customers Quarterly ..... 9J..!:'Y.~r.t\/J()l~t()r,~_~()~~~t()~!:>___ ....... ~.n~1y VIOLATION PROCESSING Response Time Monthly CUSA Violation Collection Rate Quarterly ___ (;!!§l.'-.\fio~!i()!:l_Q:ll.l~C::ti()!:' ... ~.~~.--············-~~1y TRAFFIC OPERATIONS Initial & Secondary Reviews * Aate Msread Errors . .... . -~-~ ~~~£()!1~~ Ti~·­ ACCOUNTING ....... !?:<c::~e.~C>!:'~.... ····-· . --· INFORMATION TECHNOLOGY Back-office System Uptime Netw ork Uptime Monthly Monthly Monthly Monthly CUSA = Cofiroute USA; CAS =Customer Assistance Specialists Not to exceed 120 seconds No more than 4.0% At least 75 outbound calls 8% or more 10% or more Within 2 business days of receipt 70% or more 74% or more 99% Availability 99% Availability 1:38 **4.4% 76 0.8 100.0% 100.0% •Plate Misread Error performance is current after a 60-day hold-back period; therefore, percentage reported here is for 2 months prior to the mo nth of this report. **Due to a major accident on 5/22/15 in the general lanes, OCTA 's decision to open the Express Lanes to all traffic resulted in a higher than normal call volume which resulted in causing the customer service center abandon rate performance measure to be exceeded during the month. Incoming Call Activity I May-15 April-15 FY INCOMINGCALLVOLUME 1-~~~~-1 ~·,i;.;·of ···~-~~--·T·-~~~- • . • I Total Calls I Total • Total Calls % .o!.Total Average Representatives Answered 18,661 63.8% 21,884 66.1% 20,863_ l\/R Answered 7,347 25.1% 8,129 24.5% 7,754 *Abandoned Galls = or >20 seconds 1,274 4.4% 968 2.9% 1,189 **Abandoned Galls -all others 1,982 6.8% 2,150 6.5% 2,201 ~---~·· ---------- Total lncorring Galls: 29,264 33,131 32,007 *This data is used in the Abandoned Calls performance measure. **This data represents all IVR abandons and !bandons outside the performaice measLre threshold. Transponder Distribution Status ti May-15 i April-15 ~FY 2014-15 TRANSPONDER DISTRIBUTION ·· -• -· · ·· · -· ·• · · · ~-· ~--····-~- Tags 1% of Total Tags /%of Total erage To-Date = " ' = l~ o I " ),,-,"" ' ' Issued ' To New Accounts 855 37.8% 970 36.8% ' 837 33.5% ' ' ! Additional Tags to Existing Accounts 530 23.5% 682 25.9% I 598 23.9% ! Replacement Transponders 875 38.7% 983 37.3% i 1,064 42.6% ' Total Issued 2,260 jf 2,635 v,~~:f:;~;1t~k.~;~;,;;~li:,I 2,499 Returned Account Oosures 357 26.9% 329 21.4% 440 26.3% Accounts Downsizing 139 10.5% 178 Defective Transponders 833 62.7% 1,031 . . . ::! Total Returned 1,329 1,538 dtr::=-7 • • • • • • At the end of May 2015, the 91 Express Lanes had 116,532 active customer accounts, with 176,217 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 May 31, 2015 119,992 ~ b s;i<o ~ !O gfr;f> ~ ..... ~~ #(j fO~ ~rs #"' ~"" f>:l(j r:§'<? ,.,,~ f;:i~ ,.,,~ f;:i ... ~ ~ ~ ~ ~ ~ Fiscal Year Operational Highlights On-road Operations '), ~ ~ ~ ...;°"' ,;°"' ~ .... ~"" f>:l°"' f>:l°"' f;:i .... f;:i .... ~ ~ ~ ~ Customer Assistance Specialists (CAS) responded to 123 calls during May. The CAS team received 72 calls to assist disabled vehicles, 8 calls to remove debris, and conducted 39 assists or traffic breaks. The CAS provided assistance to 1 accident in the Express Lanes and 3 accidents in the general-purpose lanes . 8 Financial Highlights 91 Express Lanes Operating Statement YTD as of May 31, 2015 YTD Variance Descriotion Actual 111 Budget 111 Dollar$ Percent(%) , •• ;1f,\! •:' .••!ff.·. •t.c . ;;).: ··:· ••··· ·::; .. :;\.f! ·{ . ·: :: ',ff<: : ·.·• Operating revenues: Toll revenue 33,522, 162.35 $ 31,887,888.00 $ 1,634,274.35 Fee revenue 7,748,982.68 6,233,895.00 1,515,087.68 Total ooerating revenues 41,271,145.03 38.121,783.00 3, 149,362.03 •i:::• ··: •:(: :···· ·. ·:· ·.'(•· ;<•'i];r;:.···. 'ft . :\.•.: .:.;:c:. ·::er•>' : ..•.. ,,,,.. \ ,'J;k: .••.. ·. .:•,)':• Operating expenses: Contracted services 7,319,410.76 7,627,845.00 308,434.24 Administrative fee 2,099,442.62 2,014,766.00 (84,676.62) Other professional services 1,058,653.17 3,025,341.00 1,966,687.83 Credit card processing fees 760, 111.75 826,988.00 66,876.25 Toll road account servicing 629,866.01 535,980.00 (93,886.01) Other insurance expense 322,375.27 680, 150.00 357,774.73 Toll road maintenance supply repairs 168,666.57 211,586.00 42,919.43 Patrol services 532,801.45 453,574.00 (79,227.45) Building equipment repairs and rnaint 387,557.41 585,752.00 198,194.59 Other services 14,500.00 22, 150.00 7,650.00 Utilities 13,724.51 18,326.00 4,601.49 Office expense 48,027.17 39,701.00 (8,326.17) Bad debt expense 54,833.17 -(54,833.17) Miscellaneous (2l 48,567.52 229,848.00 181,280.48 Leases 272,701.00 366,520.00 93,819.00 Property taxes --- Total operating expenses 13,731,238.38 16,638,527.00 2,907,288.62 Depreciation and amortization (3l 3,357,158.07 -(3,357, 158.07) Operating income (loss) 24,182,748.58 21,483,256.00 2,699,492.58 Nonoperating revenues (expenses): Federal assistance grants --- Interest income 593,256.83 935,900.00 (342,643.17) Investment gain on derivative instrument --- Interest expense (5,391,309.89) (5,403,519.00) 12,209.11 Other 9,093.09 -9,093.09 Total nonooerating revenues (expenses) (4, 788,959.97) (4,467,619.00) (321,340.97) Transfers in --- Transfers out --- Net income (loss) $ 19,393,788.61 $ 17,015,637.00 $ 2,378, 151.61 '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 SerlAce Charge, Transponder Materials. 'Depreciation and amortization are not budgeted items. Capital Asset Activity ····'·. . 5.1 24.3 8.3 ,,; 4.0 (4.2) 65.0 8.1 (17.5) 52.6 20.3 (17.5) 33.8 34.5 25.1 (21.0) NIA 78.9 25.6 NIA 17.5 NIA 12.6 NIA (36.6) NIA 0.2 NIA (7.2) NIA NIA 14.0 During the eleven months ending May 31, 2015, capital asset activities included $33,445 for the purchase of support equipment, $109,724 for the purchase of computer equipment, and $341, 062 for the purchase of transponders. 9 • • • • -· • ATTACHMENT B m OCTA Orange County Transportation Authority ~ ,,, Express ,,a•anes Status Report June 2015 As of June 30, 2015 • ' • • Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for June 2015 was 1, 172,590. This represents a ~:"" daily average of 39,086. This is an 11.1 % increase in total traffic volume from the same period last year when traffic levels totaled 1,055,888. Potential toll revenue for the month was $3,416,419 which represents an increase of 13.8% from the prior year's total of $3,002,895. Carpool percentage for the month was 23. 75% as compared to the previous year's rate of 24.93%. Month-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 month of June 2015. Current Month-to-Date (MTD) as of June 30, 2015 ~t;f;)/4:' Varblice 12.8% 5.8% Average Full Toll Lanes $3.74 $3.81 ($0.07) (1.8%) $3.70 1.1% $0.26 $0.27 ($0.01) (3.7%) $0.26 0.0% $2.91 $2.92 ($0.01) (0.3%) $2.84 2.5% 2 The 2015 fiscal year-to-date (YTD) traffic volume is 6.3% higher than the same period last year . The 2015 fiscal year-to-date revenue is 8.7% higher than for the same period last year. Year-to- date average revenue per-trip is $3.00. 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 2014 through June 2015. FY 2014-15 to Date as of June 30, 2015 $3.82 Average 3+ Lanes $0.26 Avera e Gross Revenue $3.00 Stantlf·e vn)i.;;t Proecieu 9.423,139 $3.88 $0.29 $3.01 ($0.06) (1.5%) $3.77 1.3% ($0.03) (10.3%) $0.28 (7.1%) ($0.01) (0.3%) $2.93 2.4% 3 • • • • • • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for FY 2014-15 on a monthly basis. FY 2014-15 Traffic Volume Overview 1,400,000 1,225,000 1,050,000 Cl> 875,000 E ::I 0 > 700,000 525,000 350,000 175,000 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Month •Full Toll Lanes •3+ Lanes The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for FY 2014-15 on a monthly basis. FY 2014-15 Revenue Summary $3,500,000 $3,300,000 $3,100,000 $2,900,000 $2,700,000 $2,500,000 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Month •Full Toll Lanes 93+ Lanes 4 Peak traffic hour in the eastbound direction reached or exceeded 90% or more of defined capacity 16 times during the month of June 2015. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 66% of defined capacity. EASTBOUND PEAK-HOUR VOLUMES Monday 06101/15 Tuesday 06/02/15 Wednesday 06/03/15 Thursday 06/04/15 Friday 06/05/15 PM Time Price HOV Vol. cm;: iJrici"i·· t1• :Vol;· "~; .4!rlce HOV ·:4101. Cap. Pi1l:e · tt-:1'"' '#t?'.L;J;,ap. .l'i'fce RQV Viii. t;c.P. 1400 -1500 $4.55 244 1,735 51% $4.55 280 1,947 57% $4.55 324 2,125 63% $4.70 338 2,314 68% $3.10 294 1,965 58% 1500 -1600 $4.90 549 2,978 88% $3.70 503 2,992 88% $3.95 504 3,082 91% $4.60 497 3,013 89% $9.85 539 2,733 80% 1600 -1700 $4.70 469 3,124 92% $5.95 449 2,998 88% $7.20 445 2,938 86% $9.50 466 2,935 86% $9.65 574 2,938 86% 1700 -1800 $4.85 401 2,925 86% $5.40 481 3,231 95'/e $6.70 473 3,007 88% $8.80 418 2,692 79% $6.20 496 3,097 91% 1800 -1900 $4.90 443 2,307 68% $3.60 487 2.585 76% $160 500 2,814 83% $4.40 505 2,808 83% $5.80 530 2,519 74% 1900 -2000 $3.45 286 1,189 35% $3.45 310 1,553 46% $3.45 341 1,603 47% $5.00 403 1,691 50% $5.45 361 1,575 46% Monday 06108/15 Tuesday 06/09/15 Wednesday 06110/15 Thursday 06/11/15 Friday 06/12/15 PM Time Prli:e 'if.,. Vol. .cep;;; ::t'f•ciir • ,.vOIY" ·.c.p, .l'i'f.:..8' .ffQV ·.Vol. Cap. Pi1l:e ll!.OV.> "' "·"' '• ,;illril1i!~ov ·.· Vol, · • ;,(:ap. 1400 -1500 $4.55 318 1,935 57% $4.55 344 2,043 60% $4.55 325 2,321 68% $4.70 351 2,271 67% $3.10 445 2,830 83% 1500 -1600 $4.90 572 3,009 89% $3.70 514 2,968 87% $3.95 516 2,966 87% $4.60 529 3,037 89% $9.85 502 2,744 81% 1600 -1700 $4.70 457 2,927 86% $5.95 473 3,037 89% $7.20 477 2,874 85% $9.50 466 2,888 85% $9.65 502 2,812 83% 1700 -1800 $4.85 474 3,122 92% $5.40 468 3,080 S1'!. $6.70 523 3,163 93'1. $8.80 478 2,930 86% $6.20 471 2,875 85% 1800 -1900 $4.90 455 2,272 67% $3.60 492 2,794 82% $3.60 496 2,637 78% $4.40 561 2,964 87% $5.80 518 2,444 72% 1900 -2000 $3.45 296 1,227 36% $3.45 306 1,486 44% $3.45 320 1,581 47% $5.00 385 1,690 50% $5.45 400 1,743 51% Monday 06115115 Tuesday 06/16/15 Wednesday 06/17/15 Thursday 06/18/15 Friday 06/19/15 PM Time W1Me: •• ,.vOI.; :··:e. . ...... 0fllll\!§<vQI. ~-·l"rlff' ll!.OV ; vQI; . ''.;;;t;aP. "Ice ll!.OV . 1lnwv · li'A!kJ. ¢•; 1400 -1500 $4.55 312 1,961 58% $4.55 322 1,998 59% $4.55 383 2,186 64% $4.70 384 2,341 69% $3.10 509 2,962 87% 1500 -1600 $4.90 511 2,821 83% $3.70 526 3,026 89% $3.95 567 3,137 92% $4.60 537 3,009 89% $9.85 563 2,833 83% 1600 -1700 $4.70 490 2,900 85% $5.95 453 2,822 83% $7.20 489 2,920 86% $9.50 522 2,827 83% $9.65 523 2,890 85% 1700 -1800 $4.85 482 3,072 90'.4 $5.40 506 2,970 87% $6.70 491 2,971 87% $8.80 502 2,974 87% $6.20 492 3,029 89% 1800 -1900 $4.90 471 2,321 68% $3.60 536 2,889 85% $3.60 564 2,896 85% $440 558 2,944 87% $5.80 459 2,430 71% 1900 -2000 $3.45 349 1,372 40% $3.45 328 1,658 49% $3.45 410 1,835 54% $5.00 467 2,261 67% $5.45 380 1,709 50% Monday 06/22/15 Tuesday 06123/15 Wednesday 06124115 Thursday 06/25115 Friday 06126115 PM Time ru:J:rJil.V··:l1E~ ..... :;;'{fQV 'lllt'Ji' ·CaP. ·~,; ll!.0Vv,t1illt""*;e.;" ~-~i!:'l •. •~~rVoi-. t@V; :l1ilifue'i'J1QV1' ~·H .. 1400 -1500 $4.55 324 1,965 58% $4.55 391 2,061 61% $4.55 348 2,048 60% $4.70 407 2,314 68% $3.10 485 2,963 87% 1500 -1600 $4.90 536 2,798 82% $3.70 555 3,032 89% $3.95 494 2,913 86% $4.60 536 3,039 89% $9.85 527 2,637 78% 1600 -1700 $4.70 477 2,951 87% $5.95 523 2,930 86% $7.20 518 2,401 71% $9.50 530 3,034 89% $9.65 521 2,842 84% 1700 -1800 $4.85 340 2,597 76% $5.40 488 3,150 93'4 $6.70 529 3,241 95'/e $8.80 482 3,100 91'4 $6.20 467 2,755 81% 1800 -1900 $4.90 485 2,845 84% $3.60 456 2,503 74% $3.60 588 3,069 $0'/. $4.40 512 2,691 79% $5.80 492 2,400 71% 1900 -2000 $3.45 332 1,393 41% $3.45 333 1,536 45% $3.45 446 2,042 60% $5.00 181 813 24% $5.45 469 1,751 52% Monday PM Time •••• 11tOV i:oVl!f, 1400 -1500 $4.55 333 1,868 55% 1500 -1600 $4.90 563 2,956 87% $370 3,014 1600 -1700 $4.70 456 2,984 88% $5.95 521 3,185 1700 -1800 $4.85 453 3,097 91'4 $5.40 517 3,239 1800 -1900 $4.90 451 2,204 65% $3.60 503 2,571 1900 -2000 $3.45 324 1,346 40% $3.45 356 1,636 5 • • • • WESTBOUND PEAK-HOUR VOLUMES Monday 06/01/15 Tuesday 06/02/15 Wednesday 06/03/15 Thursday 06/04/15 Friday 06/05115 AM Time ·•erii:e• f!OV ,iii!~!, Cap. Price HO\I' . \101./ •. ciip; Price HOV Vol. Cjtp. Price ·HOV Vol. . Cjtp. i'riee HOV Vol. Cjlp. 0400 -0500 $2.70 241 1,224 36% $2.70 383 1,019 30% $2.70 378 993 29% $2.70 375 1,036 30% $2.70 326 875 26% 0500 -0600 $4.35 327 1,576 46% $4.35 578 2,022 59% $4.35 565 1,959 58% $4.35 605 2,098 62% $4.15 557 1,892 56% 0600 -0700 $4.55 468 2,260 66% $4.55 499 2,023 60% $4.55 483 2,045 60% $4.55 477 2,041 60% $4.35 465 1,846 54% 0700 -0800 $5.05 476 2,041 60% $5.05 381 1,720 51% $5.05 369 1,750 51% $5.05 374 1,681 49% $4.90 364 1,561 46% 0800 -0900 $4.55 276 1.776 52% $4.55 205 1,577 46% $4.55 206 1,455 43% $4.55 213 1,651 49% $4.35 234 1,244 37% 0900 -1000 $3.60 214 1,846 54% $360 195 1,425 42% $3.60 188 1,308 38% $3.60 171 1,242 37% $3.60 186 1,121 33% Monday 06/08/15 Tuesday 06/09/15 Wednesday 06/10/15 Thursday 06/11/15 Friday 06/12/15 AM Time ::Price HOV .. VoL :. Clijjt Mi:e: .-v VG!. Cjlp;• Prltil>•".HOV :•: Vol.': ':iC\lp. Mi:e Ji•:; i:Vj,1. ,: \•Cap> ·Pr1t11 •iifov Vol. • fCjlp> 0400 -0500 $2.70 353 1,035 30% $2.70 385 1,045 31% $270 356 987 29% $2.70 380 989 29% $2.70 360 967 28% 0500 -0600 $4.35 585 2,053 60% $4.35 567 1,841 54% $4.35 564 1,975 58% $4.35 563 1,927 57% $4.15 536 1,817 53% 0600 -0700 $4.55 472 1,909 56% $4.55 519 2,039 60% $4.55 502 2,001 59% $4.55 507 2,095 62% $4.35 398 1,550 46% 0700 -0800 $5.05 385 1,761 52% $5.05 388 1,884 55% $5.05 395 1,787 53% $5.05 424 1,857 55% $4.90 359 1,628 48% 0800 -0900 $4.55 246 1,656 49% $4.55 242 1,796 53% $4.55 234 1,607 47% $4.55 259 1,637 48% $4.35 233 1,372 40% 0900 -1000 $3.60 245 1.497 44% $3.60 246 1,638 48% $3.60 233 1,465 43% $3.60 215 1,300 38% $3.60 241 1,212 36% Monday 06/15115 Tuesday 06/16/15 Wednesday 06/17115 Thursday 06/18/15 Friday 06/19/15 AM Time ferii:ei;i~® Vol, ·:Cjlp,:; I. ·. 11QV' :;:\/oi •. ,(lap, ''tidt;e HQV'i:l:li:\VOl.fz.,;11jid. •erii:e ··!KW' . Vol. Clijj'ji. LPdd' iiil'i?:fotvil(;;zyi: C!lli.\ 0400 -0500 $2.70 341 980 29% $2.70 393 987 29% $2.70 359 995 29% $2.70 385 1,024 30% $2.70 340 931 27% 0500 -0600 $4.35 566 1,981 58% $4.35 582 1,963 58% $4.35 584 1,955 58% $4.35 580 1,959 58% $4.15 509 1,876 55% 0600 -0700 $4.55 491 1.973 58% $4.55 479 2,046 60% $4.55 490 1,989 59% $4.55 473 1,881 55% $4.35 393 1,750 51% 0700 -0800 $5.05 359 1,734 51% $5.05 365 1,721 51% $5.05 397 1,848 54% $5.05 344 1,708 50% $4.90 324 1,548 46% 0800 -0900 $4.55 270 1,496 44% $4.55 295 1,686 50% $4.55 293 1,683 50% $4.55 268 1,610 47% $4.35 283 1,584 47% 0900 -1000 $3.60 241 1,259 37% $3.60 307 1,676 49% $3.60 295 1,596 47% $3.60 318 1,554 46% $3.60 291 1,391 41% • Monday 06/22/15 Tuesday 06/23/15 Wednesday 06/24/15 Thursday 06/25115 Friday 06126/15 AM Time .Pttlw>!)•ff®\ .• · VotillT c;lp: Jtrlte: HQVJ l.\t.b£. C,p. Pdt;e ··HQV: ·.•Vo(., • •••• Mi:e ; ifl..OM. ~-··¥01. :m:cmi JMi:eiifov':> vOi: ·;.w;:elP~-· 0400 -0500 $2.70 379 1,036 30% $2.70 409 1,015 30% $2.70 380 1,033 30% $2.70 393 1,040 31% $2.70 348 926 27% 0500 -0600 $4.35 561 1,896 56% $4.35 584 1,984 58% $4.35 613 1,990 59% $4.35 594 1,958 58% $4.15 535 1,817 53% 0600 -0700 $4.55 402 1,827 54% $4.55 523 1,990 59% $4.55 479 2,003 59% $4.55 451 1,913 56% $4.35 451 1,764 52% 0700 -0800 $5.05 332 1,701 50% $5.05 329 1,620 48% $5.05 344 1,600 47% $5.05 372 1,617 48% $4.90 333 1,547 46% 0800 -0900 $4.55 258 1,602 47% $4.55 285 1,658 49% $4.55 270 1,660 49% $4.55 284 1,714 50% $4.35 304 1,596 47% 0900 -1000 $3.60 240 1,577 46% $3.60 312 1,649 49% $3.60 280 1,775 52% $3.60 298 1,630 48% $3.60 315 1,425 42% Monday 06/29/15 Wednesday 07101/15 07/02115 AM Time '~e·if®;; 0400 -0500 $270 365 30% 0500 -0600 $4.35 546 1,977 58% $4.35 589 2,044 0600 -0700 $4.55 469 1,978 58% $4.55 484 1,931 0700 -0800 $5.05 343 1,638 48% $5.05 336 1,689 0800 -0900 $4.55 286 1,678 49% $4.55 259 1,742 0900' 1000 $3.60 279 1,506 44% $3.60 334 1,750 • 6 Perfonnance Measures REPORTING REQUIREMENT I Repo.rting [ 1 PERFORMANCESTANDARD Jun-15 Pe nod Performance «'<'< " "'" "' """" X « < "' Q N < ~ ~-N 0 CUSTOM~ SERVICE Call Wait Time Abandon Rate Customer Satisfaction Convert Violators to Customers Monthly Monthly Monthly Quarterly 1:04 1.9% 75 22% 19% Response Time Monthly Within 2 business days of ::leceipt 0.8 CUSA Violation Collection Rate Quarterly 70% or more 77% ~--C_U_SWWWAWWWVWWWiOwwwlawwwtwwwiO.!:l_wwwCowwwl!eCtiOn._Ra_te __ '"'"''"'~~y ·~-7 i'.'fo .or more ----77% TRAFFIC OPERATIONS * Aate Misread Errors Monthly Equal to or less than 0.4% 0.05% Initial & Secondary Reviews Monthly . Equal to or less than 15 da:_iys 2.8 ,__ __ CA __ S_Rwwwe~Sp~owwwn_swwwewwwTiwww1me ________ ~onthly -~Ojminute~Leer Call _www0www:www09 __ -I ACCOUNTING ,_,,_ __ ~captions INFORMATION TECHNOLOGY Back-office System Uptime Monthly 99% Availability Network Uptime Monthly 99% Availabilit CUSA = Cofiroute USA; CAS =Customer Assistance Specialists 100% 100% •Plate Mis read Error performance is current after a 60-day hold-back period; therefore, percentage reported here is for 2 months prior to the month of this report. Incoming Call Activity I June-15 May-15 FY INCOMING CALL VOLUME ~·~-·~ ot www---www-,------ 1 Total Calls I Total Total Calls 1•1. of Total Average ;'! ~x ~ ,,,., ~ "' ,,, >= """'"\ ,,, N "' ' ~ ' Q X "'<" ~ "' ~ = Representatives Answered 22,316 66.9% 18,661 63.8% 20,984 IVRAnswered 8,249 24.7% 7,347 25.1% 7,796 *Abandoned Calls = or >20 seconds 641 1.9% 1,274 4.4% 1,144 **Abandoned Calls -all others 2,174 6.5% 1,982 6.8% 2,198 Total lncorring Calls: 33,380 29,264 32,122 *This data is used in the Abandoned Calls performance measure . .. This data represents all IVR abandons and abandons outside the performance meascre threshold. Transponder Distribution Status Issued To New Accounts 832 33.8% 855 37.8% 837 Additional Tags to Existing Accounts 635 25.8% 530 23.5% 601 Replacement Transponders 991 40.3% 875 38.7% 1,058 . . 'iiW:K. 1~1 w: ,;·", m:" Total Issued 2,458 2,260 ~, ;~;~:n/'-' 2,495 ~·· Returned Account aosures 346 26.2% 357 26.9% 426 Accounts Downsizing 120 9.1% 139 10.5% 177 Defective Transponders 855 64.7% 833 62.7% 1,016 Total Returned 1,321 4 1,618 ., ' dtr:c- 33.5% 24.1% 42.4% 26.3% 10.9% 62.8% 7 • • • • • I • At the end of June 2015, the 91 Express Lanes had 116,813 active customer accounts, with 176, 790 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 June 30, 2015 119,992 :>f~ ~ {o (\ !b E'> () ~ ..... r§l:; ~(j !Of;) "SS 9-JG Pf~ -:-,'::f ,..,,~ r::fS ,..,,r§S r;;,t:> f.':)(::J ,..,,1§5 '); '); '); '); '),() Fiscal Year Operational Highlights On-road Operations '.'\. ,,, ~ ~ ..; ..... ,; ..... ~-.; '>( ..... r;:, ..... f.':) ..... f.':) ..... r;:,'-; '); '); '); '); Customer Assistance Specialists (CAS) responded to 121 calls during June. The CAS team received 71 calls to assist disabled vehicles, 6 calls to remove debris, and conducted 29 assists or traffic breaks. The CAS provided assistance to 8 accidents in the Express Lanes and 7 accidents in the general-purpose lanes . 8 Financial Highlights 91 Express Lanes Operating Statement YTD as of June 30, 2015 YTD Variance Description Actual <1> <4 > Budaet <1> Dollar$ d.1;1~st:/ .. ·· lfo:t:t:i:t:t:,;iI . ;::;;;:;;;•< . ·: . • .. ~:!'. W¥Ji:l'.i. <1'. t . : .·.· •• · •• .:: •; ':·.t Operating revenues: Toll revenue 36,631,646.60 $ 34,514,899.00 $ 2,116,747.60 Fee revenue 8,441,157.90 6,944, 175.00 1,496,982.90 Total oneratina revenues 45,072,804.50 41,459,074.00 3,613,730.50 l;;••r: >< ...•. ... . : . ~\ • ; , • •w,:; :·i. !f·:•:•• . ·.;if,;,,. t:.• .:;11%::. L:fr:: ..• : Operating expenses: Contracted services 7,989,625.60 8,310,000.00 320,374.40 Administrative fee 2,290,301.04 2,504, 112.00 213,810.96 Other professional services 1, 182,559.43 3,680,724.00 2,498, 164.57 Credit card processing fees 827,702.90 890,000.00 62,297.10 Toll road account servicing 679,744.47 600,000.00 (79, 7 44.47) Other insurance expense 350,750.80 750,000.00 399,249.20 Toll road maintenance supply repairs 193,963.13 230,000.00 36,036.87 Patrol services 578, 158.42 495,000.00 (83, 158.42) Building equipment repairs and maint 440,092.92 660,000.00 219,907.08 Other services 15,150.00 27,800.00 12,650.00 Utilities 17,375.78 101,000.00 83,624.22 Office expense 50,916.53 47,500.00 (3,416.53) Bad debt expense 291,403.98 -(291,403. 98) Miscellaneous <2> 50,593.59 169,578.00 118,984.41 Leases 299,610.75 400,000.00 100,389.25 Total operating expenses 15,257,949.34 18,865,714.00 3,607,764.66 Deoreciation and amortization <3> 3,622, 122.57 -(3,622, 122.57) Qperatina income (loss) 26,192,732.59 22,593,360.00 3,599,372.59 Nonoperating revenues (expenses): Federal assistance grants --- Interest income 395,066.56 1,002,400.00 (607,333.44) Investment gain on derivative instrument --- Interest expense (5,878,630.70) (5,897, 100.00) 18,469.30 .. Other 9,176.54 -9,176.54 Total nonoperating revenues (exoenses) (5,474,387.60) (4,894,700.00) (579,687.60) Transfers in --- Transfers out --- Net income (loss) $ 20,718,344.99 $ 17,698,660.00 $ 3,019,684.99 '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 Sen.ice Charge, Transponder Materials. 'Depreciation and amortization are not budgeted Items. Percent(%) '.:; .. · ·.:: •• y ... 6.1 21.6 8.7 .n•·: ,:<· '>i:Jj 3.9 8.5 67.9 7.0 (13.3) 53.2 15.7 (16.8) 33.3 45.5 82.8 (7.2) NIA 70.2 25.1 19.1 NIA 15.9 NIA (60.6) NIA 0.3 NIA (11.8 NIA NIA 17.1 'Actuals are preliminary pre-closing amounts as of FY 2014-15. Final numbers will be shown in the audited financial statements. Capital Asset Activity During the twelve months ending June 30, 2015, capital asset activities included $33,445 for the • • purchase of support equipment, $263,476 for the purchase of communications equipment, • $109,724 for the purchase of computer equipment, and $402,377 for the purchase of transponders. 9 • • • ATTACHMENT C m OCTA Orange County Transportation Authority ••Express ~Lanes Status Report July 2015 As of July 31, 2015 • • • Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for July 2015 was 1,194,162. This represents a daily average of 38,521. This is an 8.6% increase in total traffic volume from the same period last year when traffic levels totaled 1,099, 720. Potential toll revenue for the month was $3,573,507 which represents an increase of 12.2% from the prior year's total of $3, 185,504. Carpool percentage for the month was 24.81 % as compared to the previous year's rate of 25.63%. Month-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 month of July 2015. Current Month-to-Date (MTD) as of July 31, 2015 Average Full Toll Lanes $3.89 $3.86 $0.03 Average 3+ Lanes $0.27 $0.28 ($0.01) Average Revenue Per Trip $2.99 $2.97 $0.02 0.8% $3.80 (3.6%) $0.27 0.7% $2.90 · Yr*Yr 0 '"A"'" 2.4% 0.0% 3.1% 2 Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. 1,400,000 1,225,000 1,050,000 GI 875,000 E :I ~ 700,000 525,000 350,000 175,000 FY 2015-16 Traffic Volume Overview Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month c·-~~s •3+ Lanes I ~------------------------------------------~ The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. $3,700,000 $3,500,000 $3,300,000 $3,100,000 $2,900,000 $2,700,000 $2,500,000 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month C •Full Toll lanes •3+ Lanes 3 • • • • • • Peak traffic hour in the eastbound direction reached or exceeded 90% or more of defined capacity fourteen times during the month of July 2015. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 59% of defined capacity. EASTBOUND PEAK-HOUR VOLUMES Wednesday 07/01/15 Thursday 07/02/15 Friday 07/03/15 PM Time Prlc1f'}'.'\.IOV · • VOl.· .•. ·cip. Prl~; KOY·· Vol Cap.·· ~ KqV/• '•Vob,,,,Jlap •.• 1400 -1500 $4.70 372 2,208 65% $3.20 458 2,948 87% $3.85 382 1,528 45% 1500-1600 $4.05 540 3,054 90% $10.15 576 2,827 83% $3.85 393 1,446 43% 1600 -1700 $7.40 541 3,069 90% $9.95 582 3,058 90% $3.85 336 1.234 36% 1700 -1800 $6.90 497 3,044 90% $6.40 502 3,028 89% $3.85 336 1,117 33% 1800 -1900 $3.60 521 2,726 80% $5.95 558 2,677 79% $3.85 313 1,021 30% 1900 -2000 $3.55 444 1,795 53% $5.60 443 1,746 51% $3.85 343 917 27% Monday 07/06/15 Tuesday 07/07/15 Wednesday 07/08/15 Thursday 07/09/15 Friday 07/10/15 PM Time il'lce HOV£! voi; ~i(llm'; ;fhice 10\t1ovr · Vd\~~~ii •. ciii. Pri~,i cHO\I ··~:{.;.Cap. Pf~ HOVH .Vi>!. Cap. f'riCl· H~· .114!,;((~~iii 1400-1500 $4.70 356 1,894 56% $4.70 364 2,007 59% $4.70 351 2, 102 62% $4.85 388 2,266 67% $3.20 493 3,006 88% 1500 -1600 $5.05 530 2,785 82% $3.80 512 2,917 86% $4.05 542 3,006 88% $4.75 536 3,044 90% $10.15 598 2,914 86% 1600 -1700 $4.85 478 2,838 83% $6.15 472 2,929 86% $7.40 504 2,966 87% $9.80 519 2,899 85% $9.95 527 2,835 83% 1700 -1800 $4.85 388 2,545 75% $5.55 482 3,013 89% $6.90 453 2,865 84% $9.05 463 2,962 87% $6.40 522 3,042 89% 1800 -1900 $5.05 517 2,353 69% $3.60 550 2,884 85% $3.60 531 2,861 84% $4.40 547 3,035 89% $5.95 462 2,250 66% 1900 -2000 $3.55 298 1,220 36% $3.55 394 1,682 49% $3.55 395 1,748 51% $5.15 396 1,669 49% $5.60 427 1,664 49% Monday 07/13/15 Tuesday 07/14/15 Wednesday 07/15115 Thursday 07/16/15 Friday 07/17115 PM Time ir1C. HQ'ii vjf, ici• Price:f:.Hov v~t: capi. Price HOV 'vOJ;;·~:7cap, l'tltl•· H ... iVi>I. Cap.A ~:' KqV< Vol. 120ap: 1400 -1500 $4.70 376 2,004 59% $4.70 354 2,004 59% $470 338 2,174 64% $4.85 404 2,391 70% $3.20 484 2,960 87% 1500-1600 $5.05 518 2,936 86% $3.80 530 2,968 87% $4.05 435 2,602 77% $4.75 491 2,954 87% $10.15 572 2,889 85% 1600-1700 $4.85 504 3,077 91% $6.15 472 2,898 85% $740 517 2,866 84% $9.80 494 2,881 85% $9.95 542 2,814 83% 1700 -1800 $4.85 452 2,836 83% $5.55 448 2,880 85% $6.90 563 3,155 93% $9.05 507 3,095 91% $6.40 503 2,886 85% 1800 -1900 $5.05 495 2,348 69% $3.60 529 2,956 87% $3.60 541 3,130 92% $4.40 469 2,692 79% $5.95 498 2,301 68% 1900 -2000 $3.55 306 1,251 37% $3.55 388 2,102 62% $3.55 426 2,146 63% $5.15 484 2,184 64% $5.60 471 1,684 50% Monday 07/20/15 07/22115 Thursday 07/23/15 07/24/15 PM Time .. cedllj:HOV~i\.Vol. ~ .Di;::r+t;.,;, ;Pr~· HOV' 'Vt~i;;,:. cap:;' 1400-1500 $4.70 313 1,868 55% 345 1,997 59% $4.70 372 2, 109 62% $4.85 398 2,388 70% $3.20 543 2,937 86% 1500-1600 $5.05 471 2,709 80% $3.80 530 3,014 89% $4.05 522 3,013 89% $4.75 565 2,926 86% $10.15 595 2,861 84% 1600 -1700 $4.85 431 2,790 82% $6.15 487 2,972 87% $7.40 546 2,897 85% $9.80 564 2,995 88% $9.95 536 2,835 83% 1700-1800 $4.85 434 2,642 78% $5.55 489 3,087 91% $6.90 483 2,951 87% $9.05 531 2,925 86% $6.40 495 2,860 84% 1800 -1900 $5.05 439 2,409 71% $3.60 444 2,428 71% $3.60 512 2,955 87% $4.40 516 2,914 86% $5.95 425 2, 102 62% 1900 -2000 $3.55 320 1,357 40% $3.55 353 1,623 48% $3.55 429 1,769 52% $5.15 498 2,166 64% $5.60 388 1,586 47% Monday 07/27/15 Tuesday 07/28/15 Wednesday 07/29/15 Thursday 07/30/15 Friday 07/31/15 PM Time i!Ptlca'i'~'liOV iff:Yol. :-i~ ~~ \flfqV )'fiNot:;; . ·c11P:'' :'.Mt~ ·Vol.') ~;,j ,Price;) ltOV :. VOli:if4t'i'cap;; :l'tltl -~tit¥11f¥Et''.Qap~. 1400 -1500 $4.70 349 1,906 56% $4.70 375 1,998 59% $4.70 164 851 25% $4.85 405 2,340 69% $3.20 435 2,838 83% 1500 -1600 $5.05 583 2,915 86% $3.80 569 3,223 95% $4.05 513 2,670 79% $4.75 557 2,978 88% $10.15 615 2,861 84% 1600 -1700 $4.85 490 2,921 86% $6.15 551 3,101 91% $7.40 536 2,893 85% $9.80 484 2,841 84% $9.95 541 2,920 86% 1700 -1800 $4.85 438 2,983 88% $5.55 533 3,194 94% $6.90 331 1,711 50% $9.05 513 3,046 90% $6.40 498 2,841 84% 1800 -1900 $5.05 541 2,681 79% $3.60 461 2,624 77% $3.60 585 2,952 87% $4.40 519 2,684 79% $5.95 465 2,267 67% 1900 -2000 $3.55 359 1,484 44% $3.55 385 1,682 49% $3.55 506 2,094 62% $5.15 463 1,825 54% $5.60 427 1,598 47% 4 WESTBOUND PEAK-HOUR VOLUMES • Monday 06/29/15 Tuesday 06130/15 Wednesday 07/01/15 Thursday 07/02/15 Friday 07/03/15 AM Time l!tlc8 .HOV' Veil.ii Cap: Pril» HOV .. Vol; Cap. ~ HOV Vol. Cap. PriM:\HOV : Vol. ~p. Priee HOV A:Jtot.1,; cJi>. 0400. 0500 ;j:c. !~;,,. '.~r 'J;'. : · . ... , .. $2.80 386 1,060 31% $2.80 380 1,014 30% $1.50 110 283 8% 0500. 0600 $4.50 597 1,996 59% $4.25 562 1,892 56% $1.50 192 651 19% 0600. 0700 $4.70 447 1,954 57% $4.50 464 1,865 55% $1.50 131 553 16% 0700. 0800 ~~it.~ ! $5.20 361 1,750 51% $5.05 314 1,568 46% $1.50 172 591 17% 0800. 0900 ;'f;~~i, .. ·. $4.70 285 1,703 50% $4.50 294 1,585 47% $2.30 197 791 23% 0900 -1000 . ·' $3.70 287 1,478 43% $3.70 287 1,398 41% $3.85 357 1,026 30% Monday 07/06/15 Tuesday 07/07/15 Wednesday 07/08/15 Thursday 07/09/15 Friday 07/10/15 AM Time ·'Pride"':''ffoV1qt;Voi;1iht1tap. 'llfl• ffOV:;, .. ;vol. ,c;J!P. Prli:.. HOV V.~;! ;~ap. ,, .'Vol. 1;•Cap,,: J!ri.F HOif! v•~ e.On · Pri•'.·i"'HOV. 0400. 0500 $2.80 364 977 29% $2.80 384 979 29% $2.80 376 1,002 29% $2.80 370 1,012 30% $2.80 344 920 27% 0500. 0600 $4.50 558 1,965 58% $4.50 450 1,298 38% $4.50 583 1,959 58% $4.50 605 1,980 58% $4.25 527 1,786 53% 0600. 0700 $4.70 375 1,547 46% $4.70 446 1,859 55% $4.70 481 1,922 57% $4.70 420 1,841 54% $4.50 403 1,702 50% 0700. 0800 $5.20 290 1,385 41% $5.20 425 1,808 53% $5.20 369 1,709 50% $5.20 342 1,604 47% $5.05 246 974 29% 0800. 0900 $470 260 1,585 47% $4.70 299 1,856 55% $4.70 233 1,494 44% $4.70 293 1,629 48% $4.50 284 1,621 48% 0900. 1000 $3.70 239 1,233 36% $3.70 290 1,897 56% $3.70 315 1,695 50% $3.70 265 1,458 43% $3.70 291 1,545 45% Monday 07/13/15 Tuesday 07/14115 Wednesday 07/15/15 Thursday 07/16/15 Friday 07/17/15 AM Time PriCe • ·p :""¥01. ·. ~iap.; t• >tlOWI <;Vi)I. 11:Cap.· :Prie.,'' MOY ,,.~5 'j;ap;. Price .ffOV, ·':•··i~Cap,i 'fj'!ce,lt'RoV v0l11, i:;.Q&P: 0400. 0500 $2.80 363 1,036 30% $2.80 380 1,010 30% $2.80 372 972 29% $2.80 349 987 29% $2.80 313 882 26% 0500. 0600 $4.50 556 1,925 57% $4.50 597 1,923 57% $4.50 514 1,608 47% $4.50 562 1,863 55% $4.25 504 1,742 51% 0600. 0700 $4.70 431 1,792 53% $4.70 443 1,772 52% $4.70 426 1,697 50% $4.70 460 1,893 56% $4.50 448 1,728 51% 0700. 0800 $5.20 363 1,707 50% $5.20 381 1,639 48% $5.20 360 1,580 46% $5.20 358 1,684 50% $5.05 357 1,545 45% 0800. 0900 $4.70 262 1,617 48% $4.70 277 1,680 49% $4.70 273 1,743 51% $4.70 263 1,611 47% $4.50 265 1,339 39% 0900 -1000 $3.70 253 1,483 44% $3.70 306 1,837 54% $3.70 300 1,628 48% $3.70 299 1,660 49% $3.70 289 1,325 39% Monday 07/20/15 Tuesday 07/21/15 Wednesday 07/22/15 Thursday 07/23/15 Friday 07/24115 • AM Time 'Mee HOV Vol) ea,:: PriCe-1 iHOV '-T~ Cip. '•!lkle HOV .;;ti Vol. ill cliii,l; tftlct• HOV·: l/4J;' illli>.• .. l'lR:• ;;?Yob c•. 0400. 0500 $2.80 362 1,000 29% $2.80 383 1,050 31% $2.80 375 989 29% $2.80 389 1,003 30% $2.80 313 899 26% 0500. 0600 $4.50 509 1,881 55% $4.50 558 1,928 57% $4.50 572 1,937 57% $4.50 575 1,919 56% $4.25 525 1,782 52% 0600. 0700 $4.70 392 1,808 53% $4.70 460 1,876 55% $4.70 494 1,899 56% $4.70 458 1,890 56% $4.50 439 1,722 51% 0700. 0800 $5.20 270 1,564 46% $5.20 353 1,630 48% $5.20 342 1,727 51% $5.20 359 1,727 51% $5.05 323 1,408 41% 0800. 0900 $4.70 211 1,351 40% $4.70 259 1,637 48% $4.70 290 1,652 49% $4.70 283 1,536 45% $4.50 287 1,530 45% 0900 -1000 $3.70 189 1,112 33% $3.70 258 1,433 42% $3.70 272 1,538 45% $3.70 268 1,559 46% $3.70 242 1,229 36% Monday 07/27/15 Tuesday 07/28/15 Wednesday 07/29/15 Thursday 07/30/15 Friday 07/31/15 AM Time : .. MOY ' '.V,6J#] ' cm., .Jlf1tt1.~;p' VliliB!: ~; :!See MOY ·Vol. Jr~fr f'Pili;'f HOV Vol. :en.· •Pride ;'RoV ?1ivol.,; Cap. 0400. 0500 $2.80 374 1,009 30% $2.80 389 1,018 30% $2.80 353 987 29% $2.80 364 958 28% $2.80 316 891 26% 0500. 0600 $4.50 544 1,896 56% $4.50 564 1,931 57% $4.50 581 1,956 58% $4.50 595 1,956 58% $4.25 507 1,763 52% 0600. 0700 $4.70 425 1,829 54% $4.70 446 1,827 54% $4.70 454 1,843 54% $4.70 432 1,859 55% $4.50 396 1,648 48% 0700. 0800 $5.20 330 1,608 47% $5.20 295 1,549 46% $5.20 359 1,648 48% $5.20 350 1,671 49% $5.05 324 1,483 44% 0800. 0900 $4.70 261 1,536 45% $4.70 253 1,632 48% $4.70 318 1,752 52% $470 253 1,537 45% $4.50 264 1,416 42% 0900 -1000 $3.70 264 1,329 39% $3.70 326 2,013 59% $3.70 326 1,689 50% $3.70 316 1,560 46% $3.70 318 1,346 40% • 5 • • • Performance Measures REPORTINGREQUIREMENT Repo_rting PERFORMANCESTANDARD I Jul-15 Period I Performance ~ ,,,,, ' ~ '*'"-" "'*' CUSTOM ER SERVICE Call Wait Time Abandon Rate Customer Satisfaction Monthly Not to exceed 120 seconds Monthly No rrore than 4.0% Monthly At least 75 outbound calls Quarterly 8% or rrore 1:46 3.4% 75 Convert Violators to Customers Convert Violators to Customers ~----------- __ A_n_n_ua1~1y ___ 1_0_~_o~~r:i!>_re __________ L£:JL£:J;-Xj;-Xj;-Xj......._. VIOLATION PROCESSING Response Time Monthly Within 2 business days of receipt CUSA Violation Collection Rate Quarterly 70% or rrore GUSA Violation Collectio __ n_Ra_t_e _____ A_nn~'L-.. ~_4% •. _o_r _rro_re ______ _ TRAFFIC OPERATIONS Initial & Secondary Reviews Monthly E!Jual to or less than 15 days * Rate Misread Errors Monthly E!Jual to or less than 0.4% ~---CA_S_R_e_s~p_o_n_s_e_Ti_1me_, _________ M_o_nt_hl~y ___ O:~ (mnutes) per call ACCOUNTING 2.9 0.06% 0:06 Exceptions , _________ M_o_nt_hl"""'y ___ No_rro __ r_e_t_ha_n_3 ________ _._ _____ ,..,.,,. INFORMATION TECHNOLOGY Back-office System Uptime Network Uptime Monthly Monthly CUSA = Cofiro ute USA; CAS =Gusto mer Assistance Specialists 99% Availability 99% Availability 100% 100% •Plate Mis read Error performance is current after a 60-day hold-back period; therefore, percentage reported here is for 2 months prior to the month of this report . Incoming Call Activity ! July-15 June-15 FY INCOMING CALL VOLUME ~~-~--~ _ I Total Calls I Tot~~ Total Call~ !% of '..~.tal Average Representatives Answered 22,582 65.2% 22,316 66.9% 22,582 IVR Answered 8,573 24.8% 8,249 24.7% 8,573 *Abandoned Calls= or >20 seconds 1,173 3.4% 641 1.9% 1,173 **Abandoned Calls -all others 2,301 6.6% 2,174 6.5% 2,301 Total lncomng Calls: 34,629 33,380 34,629 *This data is used in the Abandoned Calls performance measure. -This data represents all IVR abandons and abandons outside the performance ireasurethreshold. Transponder Distribution Status Issued To New Accounts 944 35.6% 832 33.8% 944 Additional Tags to Existing Accounts 604 22.8% 635 25.8% 604 Replacement Transponders 1,100 41.5% 40.3% Total Issued 2,648 Returned Account aosures 411 27.0% 346 26.2% 411 Accounts Downsizing 126 8.3% 120 9.1% 126 Defective Transponders 983 64.7% 855 64.7% 983 Total Returned 1,520 1,520 m~ ~$ 35.6% 22.8% 41.5% 27.0% 8.3% 64.7% 6 At the end of July 2015, the 91 Express Lanes had 117,086 active customer accounts, with 177,370 transponders assigned to those accounts. 122,000 119,992 120,000 118,000 116,000 114,000 112,000 110,000 Operational Highlights On-road Operations Number of Accounts by Fiscal Year As ofJuly31, 2015 Fiscal Year Customer Assistance Specialists (CAS) responded to 147 calls during July. The CAS team received 93 calls to assist disabled vehicles, 11 calls to remove debris and conducted 35 assists or traffic breaks. The CAS provided assistance to 7 accidents in the Express Lanes and 1 accident in the general-purpose lanes. 7 • • • • • • Financial Highlights 91 Express Lanes Operating Statement YTD as of Julv 31, 2015 YTD Variance Description Actual 11 > Budaet 11 > Dollar$ Percent(%) ;{,;'J:'' i ;:;,, .· ':;,'·' .:i~'·'':';'J;\; ;<H'.F .. ; "" Operating revenues: Toll revenue 3,277,095.53 $ 3, 083,490. 00 $ 193,605.53 Fee revenue 759,717.86 533,903.00 225,814.86 Total operatina revenues 4,036,813.39 3,617,393.00 419,420.39 ,,, ;. ' .:''·' ''£ · .. ' ,:: .,· .'··. , "'Z ... , \:\'.'[ ',:,!;:;' J.::IL: .. / .,.J, Operating expenses: Contracted services 763,356.84 699,720.00 (63,636.84) Administrative fee 190,858.42 240,669.00 49,810.58 Other professional services 205.00 197,091.00 196,886.00 Credit card processing fees 66,909.77 65,175.00 (1,734.77) Toll road account servicing 61,570.19 14,420.00 (47,150.19) Other insurance expense 28,375.53 62,475.00 34,099.47 Toll road maintenance supply repairs 2,861.64 17,077.00 14,215.36 Patrol services 47,821.03 46,232.00 (1,589.03) Building equipment repairs and maint 5,698.34 41,125.00 35,426.66 Other services -675.00 675.00 Utilities -1,666.00 1,666.00 Office expense 5,606.42 3,082.00 (2,524.42) Bad debt expense (543.00) -543.00 Miscellaneous <2 > 1,192.23 13,423.00 12,230.77 Leases 27,551.75 41,234.00 13,682.25 Total operating expenses 1,201,464.16 1,444,064.00 242,599.84 Depreciation and amortization <3l 265,694.46 -(265,694.46) Ooeratina income (loss) 2,569,654.77 2, 173,329.00 396,325.77 Nonoperating revenues (expenses): Federal assistance grants --- Federal assistance grants -15,416.00 (15,416.00) Interest income 1,867.38 34,057.00 (32, 189.62) Investment gain on derivative instrument --- Interest expense "" (487,320.81) (478,671.00) (8,649.81)"" Other 630.94 -630.94 Total nonooeratina revenues (exoenses) (484,822.49) (429,198.00) (55,624.49) Transfers in --- Transfers out --- Net income (loss) $ 2,084,832.28 $ 1,744,131.00 $ 340,701.28 '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 SenAce Charge, Transponder Materials. 'Depreciation and amortization are not budgeted items. Capital Asset Activity . ··' 6.3 42.3 11.6 ··•w (9.1) 20.7 99.9 (2.7) (327.0) 54.6 83.2 (3.4) 86.1 100.0 100.0 (81.9) NIA 91.1 33.2 16.8 18.2 NIA (100.0) (94.5) NIA (1.8) NIA (13.0) NIA NIA 19.5 During the month ending July 31, 2015, capital asset activities included $61,312 for the purchase of transponders. 8 • • • ATTACHMENT D m OCTA Orange County Transportation Authority 1,, Express ..-Lan,es Status Report August2015 As of August 31, 2015 • • • Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for August 2015 was 1,178,826. This represents a daily average of 38,027. This is a 5.9% increase in total traffic volume from the same period last year when traffic levels totaled 1, 113,549. Potential toll revenue for the month was $3,463,568 which represents an increase of 5.5% from the prior year's total of $3,283,451. Carpool percentage for the month was 24.05% as compared to the previous year's rate of 24.48%. Month-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 month of August 2015. Current Month-to-Date (MTD) as of August 31, 2015 Average 3+ Lanes $0.24 $0.29 $0.24 0.0% Average Revenue Per Trip $2.94 $3.04 $2.95 (Q,3%) 2 The 2016 fiscal year-to-date (YTD) traffic volume is 7.2% higher than the same period last year . The 2016 fiscal year-to-date revenue is 8.8% higher than for the same period last year. Year-to- date average revenue per-trip is $2.97. 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 2015 through August 2015. FY 2015-16 to Date as of August 31, 2015 3+ Lanes $0.25 $0.29 (138%) $0.25 0.0% Revenue Per Trip $2.97 $3.00 Ii .O'Xil $2.92 1.7% 3 • • • • • • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. FY 2015-16 Traffic Volume Overview 1.400,000 1,225,000 1,050,000 Cl> 875,000 E :::i 0 > 700,000 525,000 350,000 175,000 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month •Full Toll Lanes •3+ Lanes I The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. $3,700,000 $3,500,000 $3,300,000 .. ::> c $3,100,000 !: " Di: $2,900,000 $2,700,000 $2,500,000 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month •Full Toll lanes •3+ Lanes 4 Peak traffic hour in the eastbound direction reached or exceeded 90% or more of defined capacity fourteen times during the month of August 2015. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 61 % of defined capacity. EASTBOUND PEAK-HOUR VOLUMES Monday 08/03/15 Tuesday 08/04/15 Wednesday 08/05/15 Thursday 08/06/15 Friday 08/07/15 PMTime ~\ii(Qv ,Vol. ',.:Can. Priee HOV ;:::')fol. C1111. Prie8 HOV Vol. CllP· ~-.Lb ·Vol; -·· Priii1{!ifi0v ;hTVolt .t:;ap. 1400-1500 $4.70 379 1,918 56% $4.70 340 2,011 59% $4.70 359 2,077 61% $4.85 353 2,162 64% $3.20 500 2,902 85% 1500-1600 $5.05 516 2,821 83% $3.80 553 3,041 89% $4.05 591 2,934 86% $4.75 560 3,082 91% $10.15 141 623 18% 1600-1700 $4.85 452 2,799 82% $6.15 501 2,881 85% $7.40 572 2,944 87% $9.80 546 2,989 88% $9.95 388 2, 142 63% 1700 -1800 $4.85 460 2,903 85% $5.55 511 2,987 88% $6.90 516 3,035 89% $9.05 537 2,984 88% $6.40 522 2,969 87% 1800-1900 $5.05 497 2,424 71% $3.60 512 2,961 87% $3.60 538 3,022 89% $440 481 2,676 79% $5.95 459 2,240 66% 1900-2000 $3.55 382 1,503 44% $3.55 342 1,692 50% $3.55 480 2,148 63% $5.15 398 1,768 52% $5.60 422 1,597 47% Monday 08/10/15 Tuesday 08/11/15 Wednesday 08/12/15 Thursday 08/13/15 Friday 08/14/15 PMTime Mile :\'.ifovtj{~;> ;cap:_;; i·-·'· a;i ~ ·lliii>. -;,,HOV . .. Ii . ·Cll!li' iP1"1C., HOV i Vol. '+~11>. Price 1,ltQV ;;;•: vot;ir ·~-.; 1400 -1500 $4.70 367 1,925 57% $4.70 285 1,930 57% $4.70 292 2,036 60% $4.85 373 2,430 71% $3.20 453 2,939 86% 1500 -1600 $5.05 524 2,865 84% $3.80 536 3,027 89% $4.05 498 3,166 93% $4.75 503 3,058 90"/o $10.15 544 2,827 83% 1600 -1700 $4.85 505 2,955 87% $6.15 466 2,860 84% $7.40 459 2,855 84% $9.80 455 2,868 84% $9.95 421 2,806 83% 1700 -1800 $4.85 464 2,992 88% $5.55 455 2,979 88% $6.90 439 2,994 88% $9.05 463 2,971 87% $6.40 421 2,842 84% 1800 -1900 $5.05 504 2,598 76% $3.60 508 2,955 87% $3.60 499 3,080 91% $4.40 433 2,649 78% $5.95 471 2,497 73% 1900 -2000 $3.55 338 1,470 43% $3.55 370 1,808 53% $3.55 370 1,940 57% $5.15 443 2,005 59% $5.60 395 1,694 50% Monday 08/17/15 Tuesday 08/18/15 Wednesday 08/19/15 Thursday 08/20/15 Friday 08/21/15 PMTime fl'rfce iHQvl .. ;'loflt :0$. ·pfii!e: ..... ;~:•; PrtCl'l• HOV ?'fit' J:aii~· ~· HOV, >'·v.oif•f:N11~1111 • "Pfl• HQv;& 1400 -1500 $4.70 305 1,829 54% $4.70 317 1,981 58% $4.70 316 1,910 56% $4.85 364 2,337 69% $3.20 441 2,919 86% 1500 -1600 $5.05 506 2,880 85% $3.80 415 2,478 73% $4.05 496 3,162 93% $4.75 515 3,149 93% $10.15 574 2,855 84% 1600 -1700 $4.85 430 2,978 88% $6.15 430 2,727 80% $7.40 476 2,910 86% $9.80 478 3,016 89% $9.95 489 2,919 86% 1700 -1800 $4.85 428 3,031 89% $5.55 501 3,278 96% $6.90 448 3,049 90% $9.05 431 2,962 87% $6.40 420 2,888 85% 1800 -1900 $5.05 424 2,305 68% $3.60 515 2,863 84% $3.60 440 2,392 70% $4.40 471 2,814 83% $5.95 397 2,171 64% 1900 -2000 $3.55 316 1,334 39% $3.55 326 1,832 54% $3.55 388 1,946 57% $5.15 480 2,227 66% $5.60 385 1,648 48% Monday 08/24/15 Tuesday 08/25/15 Wednesday 08/26/15 Thursday 08/27/15 Friday 08/28/15 PMTime ~t •• oV /vii. \Gii; &ice . HOV ;•".;Y.l;'.'.i • $~ !a'';z•vo1. : •• :Sice.';1,"'!""' . i"W>k -~. ,,. .. <~'ifov F;Vi>L cili. 1400-1500 $4.70 287 1,870 55% $4.70 275 1,945 57% $4.70 303 2,114 62% $4.85 309 2,277 67% $3.20 384 2,509 74% 1500-1600 $5.05 493 2,893 85% $3.80 402 2,478 73% $4.05 522 3,087 91% $4.75 460 2,983 88% $10.15 592 2,761 81% 1600-1700 $4.85 400 2,964 87% $6.15 439 3,106 91% $7.40 438 2,869 84% $9.80 412 2,778 82% $9.95 541 2,850 84% 1700 -1800 $4.85 373 3,107 91% $5.55 389 3,199 94% $6.90 428 2,870 84% $9.05 428 2,876 85% $6.40 444 2,867 84% 1800 -1900 $5.05 419 2,421 71% $3.60 533 3,333 98% $3.60 433 2,814 83% $4.40 446 2,866 84% $5.95 475 2,359 69% 1900 -2000 $3.55 280 1,422 42% $3.55 304 1,470 43% $3.55 326 1,683 50% $5.15 484 2,419 71% $5.60 462 1,647 48% Monday 08/31/15 PMTime ::rtoe·'&HOV"' ',Y4f?Y~ci~::{' ': 1400 -1500 $4.70 253 1,863 1500 -1600 $5.05 482 2,856 1600 -1700 $4.85 410 2,831 1700 -1800 $4.85 428 3,248 1800 -1900 $5.05 427 2,322 1900-2000 $3.55 288 1,452 5 • • • • • • WESTBOUND PEAK-HOUR VOLUMES Monday 08103115 Tuesday 08104/15 Wednesday 08105/15 Thursday 08106115 Friday 08107115 0400 -0500 $2.80 0500 -0600 $4.50 0600 -0700 $4. 70 0700 -0800 $5.20 0800 -0900 $470 0900 -1000 $3.70 350 984 29% $2.80 373 1,015 30% $2.80 351 1,089 32% $2.80 282 983 29% $2.80 350 957 28% 558 1,909 56% $4.50 624 1,949 57% $4.50 580 1,892 56% $4.50 217 526 15% $4.25 559 1,806 53% 401 1,749 51% $4.70 451 1,893 56% $4.70 444 1,904 56% $4.70 213 567 17% $4.50 428 1,726 51% 326 1,585 47% $5.20 336 1,664 49% $5.20 347 1,688 50% $5.20 366 1,453 43% $5.05 308 1,445 43% 242 1,479 44% $4.70 257 1,681 49% $4. 70 163 846 25% $4. 70 322 1,734 51% $4.50 259 1,330 39% 291 1,513 45% $3.70 332 1,798 53% $3.70 282 1,790 53% $370 351 1,979 58% $3.70 253 1,214 36% Monday 08110115 Tuesday 08111115 Wednesday 08112115 Thursday 08113115 Friday 08114115 0400-0500 $2.80 343 1,001 29% $2.80 375 980 29% $2.80 385 1,017 30% $2.80 392 1,025 30% $2.80 363 924 27% 0500 -0600 $4.50 576 0600 -0700 $4. 70 437 0700 -0800 $5.20 323 0800 -0900 $4.70 273 0900 -1000 $3. 70 256 1,929 57% $4.50 1,848 54% $4.70 1,612 47% $5.20 1,584 47% $4. 70 1,281 38% $3.70 571 457 316 265 254 1,888 56% $4.50 1,813 53% $4.70 1,539 45% $5.20 1,683 50% $4.70 1,671 49% $3.70 578 1,908 56% $4.50 462 1,856 55% $4.70 344 1,651 49% $5.20 240 1,667 49% $4.70 231 1,524 45% $3.70 557 447 336 252 221 1,740 51% $4.25 1,807 53% $4.50 1,705 50% $5.05 1,752 52% $4.50 1,663 49% $3.70 479 438 320 211 222 1,765 52% 1,808 53% 1,579 46% 1,480 44% 1,325 39% Monday 08117115 Tuesday 08/18115 Wednesday 08119115 Thursday 08120115 Friday 08121115 0400-0500 $2.80 372 1,034 30% $2.80 391 1,052 31% $2.80 388 1,058 31% $2.80 380 1,058 31% $2.80 344 915 27% 0500-0600 $4.50 600 1,901 56% $4.50 610 1,941 57% $4.50 589 1,898 56% $4.50 581 1,925 57% $4.25 543 1,797 53% 0600 -0700 $4.70 409 1,808 53% $4.70 459 1,941 57% $4.70 433 1,875 55% $4.70 497 1,870 55% $4.50 446 1,819 54% 0700 -0800 $5.20 327 1,661 49% $5.20 357 1,710 50% $5.20 372 1,730 51% $5.20 355 1,677 49% $5.05 300 1,546 45% 0800 -0900 $4.70 0900 -1000 $3.70 225 1,692 50% $4.70 226 1,709 50% $4.70 251 1,720 51% $4.70 248 1,638 48% $4.50 209 1,345 40% 225 1,608 47% $3.70 235 1,737 51% $3. 70 237 1,643 48% $3. 70 224 1,645 48% $3.70 215 1,237 36% Monday 08124115 Tuesday 08125/15 Wednesday 08126/15 Thursday 08127115 Friday 08128115 0400 -0500 $2.80 0500 -0600 $4. 50 0600 -0700 $4. 70 0700 -0800 $5.20 0800 -0900 $4. 70 0900 -1000 $3.70 333 907 27% $2.80 556 1,855 55% $4.50 404 1,906 56% $4.70 355 1, 701 50% $5.20 216 1,737 51% $4.70 154 1,108 33% $3.70 Monday 08/31115 0400 -0500 $2.80 0500 -0600 $4.50 0600 -0700 $470 0700 -0800 $5.20 0800 -0900 $4. 70 0900-1000 $3.70 386 1,033 30% 553 1, 929 57% 476 2,029 60% 346 1,481 44% 179 1,642 48% 180 1,768 52% 397 1,055 31% $2.80 573 1,901 56% $4.50 492 2,059 61% $4.70 358 1, 757 52% $5.20 245 1, 799 53% $4. 70 178 1,714 50% $3.70 400 1,098 32% $2.80 396 1,048 31% $2.80 579 1,857 55% $4.50 549 1,870 55% $4.25 420 1,872 55% $4. 70 498 2,030 60% $4.50 368 1,754 52% $5.20 343 1,815 53% $5.05 223 1,801 53% $4.70 224 1,717 51% $4.50 190 1,657 49% $3.70 214 1,859 55% $3.70 355 514 469 312 257 293 956 28% 1,759 52% 1,849 54% 1,561 46% 1,456 43% 1,474 43% 6 Performance Measures ' I REPORTINGREQUIREMENT Repo_rting I PERFORMANCESTANDARD 1' Aug-15 Period Performance ~ ., ., . CUSTOMERS~ICE Call Wait Time Monthly Not to exceed 120 seconds 1:55 Abandon Rate Monthly No rrore than 4.0% 3.4% Customer Satisfaction Monthly At least 75 outbound calls 76 Convert Violators to Customers Quarterly 8% or rrore Convert Violators to Customers 10% or rrore ·---~W-hW~ VIOLATION PROCESSING Response Time Monthly Within 2 business days of receipt CUSA Violation Collection Rate Quarterly 70% or rrore CUSA Violation Collection Rate Annually 74% or rrore --~'"'~w~ TRAFFIC OPERATIONS Initial & Secondary Reviews Monthly Equal to or less than 15 days 1.8 * Rate Msread 8"rors Monthly Equal to or less than 0.4% 0.05% CAS Response Time Month_ly. ~() ( rrinutes) per call 0:07 ACCOUNTING Exceptions Monthly No rrore than 3 J___ 0 ·----~N,Vn ~ INFORMATION TECHNOLOGY Back-office System Uptime Monthly 99% Availability 100% Network Uptime Monthly 99% Availability 100% GUSA= Cofiroute USA; CAS =Customer Assistance Specialists •Plate Mis read Error performance is current after a 60-day hold-back period; therefore, percentage reported here is for 2 months prior to the month of this report. Incoming Call Activity ! August-15 July-15 FY INCOMING CALL VOLUME ~~--~--,~%of --~~~-~~~~ '.Total Calls ' Total Total Calls I% of Total Average xv,, ,XW -o z<0'A *"""' "0"' fy/~ "hx/"v, «, mvtl "' " m '>' x!:'" Representatives Answered 23,868 65.4% 22,582 65.2% 23,225 IVRAnswered 9,193 25.2% 8,573 24.8% 8,883 *Abandoned Calls =or >20 seconds 1,247 3.4% 1, 173 3.4% 1,210 **Abandoned Calls -all others 2,172 6.0% 2,301 6.6% 2,237 Total lncorring Calls: 36,480 34,629 35,555 'This data is used in the Abandoned Calls performance measure. **This data represents all IVR abandons and abandons outside the performance measure threshold. Transponder Distribution Status l ' August-15 I July-15 FY 2015-16 TRANSPONDER DISTRIBUTION ----i -------!~---; ---------L~-~--~ _ _ _ _ _ ... L Tags % of Total I ;:ags % of T~ta_l 1 Aver.age To:[)ate__ Issued To New Accounts l 928 35.7% 944 35.6% 936 35.7% Additional Tags to Existing Accounts 665 25.6% 604 22.8% 635 24.2% Replacement Trans ponders 1,008 38.8% 1,100 41.5% 1,054 40.2% Total Issued 2,601 2,648 tYt;lc~:; 2,625 Returned Account aosures 367 26.2% 411 27.0% 389 26.7% Accounts Downsizing 108 7.7% 126 8.3% 117 8.0% Defective Transponders 924 66.0% 983 64.7% 954 65.3% Total Returned 1,399 ' ~ 7 • • • • • • At the end of August 2015, the 91 Express Lanes had 117,393 active customer accounts, with 177,935 transponders assigned to those accounts. 122,000 119,992 j 120,000 118,000 116,000 114,000 112,000 Operational Highlights On-road Operations Number of Accounts by Fiscal Year As of August 31, 2015 Fiscal Year Customer Assistance Specialists (CAS) responded to 118 calls during August. The CAS team received 80 calls to assist disabled vehicles, 8 calls to remove debris and conducted 20 assists or traffic breaks. The CAS provided assistance to 6 accidents in the Express Lanes and 4 accidents in the general-purpose lanes . 8 Financial Highlights 91 Express Lanes Operating Statement YTD as of August 31, 2015 YTD Variance Description Actual <1> Budget <1> Dollar$ Percent(%) ',i, i'( .•t: :> n, :.ttE:: '\:r:.,, ·::: '.)ii ~·;:.:Cik " .. ,.'!';.:/)' .:~ 'f' · ... · <'.i{4; -"--~ ,, ' ,·;., Operating revenues: Toll revenue 6,591,246.56 $ 6, 134,000.00 $ 457,246.56 7.5 Fee revenue 1,584,762.06 1,063,517.00 521,245.06 49.0 Total operating revenues 8, 176,008.62 7, 197,517.00 978,491.62 13.6 .. :.,. :,,, '':, .... '?i'}ii' .( ;;.:<; .:,zy;;. \ :' ' :;; .:. " ''!il~;ir j\ .· •• ~Ji\fi°:irc .c;· :· . •. Operating expenses: Contracted services 1,426, 713.68 1,399,440.00 (27,273.68) Administrative fee 434,397.08 481,338.00 46,940.92 Other professional services 37,528.06 352,082.00 314,553.94 Credit card processing fees 131,774.13 136,749.00 4,974.87 Toll road account servicing 125,895.05 28,280.00 (97,615.05) Other insurance expense 56,751.08 124,950.00 68, 198.92 Toll road maintenance supply repairs 2,861.64 34, 154.00 31,292.36 Patrol services 5,853.58 92,464.00 86,610.42 Building equipment repairs and maint 17,219.12 99,566.00 82,346.88 Other services 650.00 1,350.00 700.00 Utilities 1,403.20 3,332.00 1,928.80 Office expense 6,046.53 6, 164.00 117.47 Bad debt expense (918.72) -918.72 Miscellaneous < 2> 3,878.62 19,886.00 16,007.38 Leases 27,551.75 82,468.00 54,916.25 Total operating expenses 2,277,604.80 2,862,223.00 584,618.20 Depreciation and amortization '3> 529,410.39 -(529,410.39) Ooeratina income (loss) 5,368,993.43 4,335,294.00 1,033,699.43 Nonoperating revenues (expenses): Rembursement from Other Agencies -280,832.00 (280,832.00) Interest income 145,600.75 96,793.00 48,807.75 Investment gain on derivative instrument ---. (966, 183.27) .. (957,342.00) (8,841.27)"' Interest expense Other 9,752.87 -9,752.87 Total nonooeratina revenues (exoenses) (810,829.65) (579,717.00) (231, 112.65) Transfers in --- Transfers out --- Net income (loss) $ 4,558, 163.78 $ 3,755,577.00 $ 802,586.78 '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 Service Charge, Transponder Materials. 3 Depreciation and amortization are not budgeted items. Capital Asset Activity (1.9) 9.8 89.3 3.6 (345.2) 54.6 91.6 93.7 82.7 51.9 57.9 1.9 NIA 80.5 66.6 20.4 NIA 23.8 (100.0) 50.4 NIA (0.9) NIA (39.9) NIA NIA 21.4 • • During the two months ending August 31, 2015, capital asset activities included $61,312 for the • purchase of transponders. 9 ATTACHMENT E • m OCTA Orange County Transportation Authority • As of September 30, 2015 • • • • Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for September 2015 was 1,123,963. This represents a daily average of 37,465. This is a 9.3% increase in total traffic volume from the same period last year when traffic levels totaled 1,027,919. Potential toll revenue for the month was $3,466,471 which represents an increase of 10.6% from the prior year's total of $3, 133,013. Carpool percentage for the month was 22.22% as compared to the previous year's rate of 22.02%. Month-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 month of September 2015. Current Month-to-Date (MTD) as of September 30, 2015 Average 3+ Lanes 0.0% Average Gross Revenue $3.08 $3.12 ($004) $3.05 1.0% 2 --------------------------- The 2016 fiscal year-to-date (YTD) traffic volume is 7.9% higher than the same period last year . The 2016 fiscal year-to-date revenue is 9.4% higher than for the same period last year. Year-to- date average revenue per-trip is $3.00. 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 2015 through September 2015. FY 2015-16 to Date as of September 30, 2015 Full Toll Lanes Full Toll Lanes 3+ Lanes Total Revenue Full Toll Lanes 3+ Lanes Revenue Per Trip .. ~;'FV:JB15-16 :\\, ....... <t1'fD . : '"·; .. •~a1:: 2,667,435 865,530 3,559,825 $10,290, 145 $10,568,246 $213,400 $253,248 $10,821,495 $3.86 $3.92 $0.26 $0.29 $3.00 $3.04 0.0% $2.96 1.4% 3 • • • • • • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. FY 2015-16 Traffic Volume Overview 1,400,000 1,225,000 1,050,000 .. 875,000 E :I 0 > 700,000 525,000 350,000 175,000 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month I •Full Toll Lanes •3+ Lanes I The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. FY 2015-16 Revenue Summary $3,700,000 $3,500,000 $3,300,000 $3,100,000 $2,900,000 $2,700,000 $2,500,000 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month eFullToltLanes •3+Lanes 4 Peak traffic hour in the eastbound direction reached or exceeded 90% or more of defined capacity seventeen times during the month of September 2015. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 62% of defined capacity. EASTBOUND PEAK-HOUR VOLUMES 08131115 Tuesday 09101115 Wednesday 09102115 Thursday 09103115 Friday 09104/15 PM Time \\'lfQV'l, Vol, · 'i;.ap. Price HOV. · Vol. Cap. l'thiet HOV Vol, ,· Jlrit:e;,,. :ffov qr'llot > 'c.ap. $4.70 278 2,033 60% $4.70 308 2,049 60% $4.85 322 2,459 72% $3.20 488 3,077 91% 490 2,983 88% $4.05 543 3,139 92% $4.75 486 3,140 92% $10.15 579 2,869 84% 474 3,020 89% $7.40 448 2,981 88% $9.80 471 3,005 88% $9.95 477 3,013 89% 1400 -1500 1500 -1600 1600 -1700 1700 -1800 1800 -1900 1900-2000 $3.80 $6.15 ' $5.55 $360 433 3,051 90% $6.90 498 3,143 92% $9.05 449 2,982 88% $6.40 488 2,794 82% 500 2,969 87% $3.60 411 2,757 81% $4.40 470 2,917 86% $5.95 419 2,005 59% $3.55 336 1,711 50% $3.55 355 1,883 55% $5.15 456 2,223 65% $5.60 422 1,659 49% Monday 09107/15 Tuesday 09108115 Wednesday 09/09115 Thursday 09/10115 Friday 09111/15 PM Time z .. 1,r,HOV•' Vol. '\cap';' ·~ it!HO'V': v61: ;-J. :1 .. ·~HQV,,. ·vo1. ., Cap •. 'Pritt'; RoV ··Vol. •3t •. .· Prtce'<tH.OV ',(,vol., ;.~llP-' 1400 -1500 $4.05 317 769 23% $4.70 278 2,000 59% $4.70 287 2,063 61% $4.85 289 2,212 65% $3.20 376 3,039 89% 1500-1600 $4.05 307 714 21% $3.80 483 3,049 90% $4.05 474 2,818 83% $4.75 459 2,973 87% $10.15 570 2,884 85% 1600. 1700 $4.05 314 730 21% $6.15 444 3,103 91% $7.40 441 3,039 89% $9.80 439 2,972 87% $9.95 466 2,953 87% 1700 -1800 $4.05 320 740 22% $5.55 423 2,917 86% $6.90 430 3,133 92% $9.05 432 2,959 87% $6.40 482 3,033 89% 1800 -1900 $4.05 364 756 22% $3.60 420 2,543 75% $3.60 482 2,897 85% $4.40 451 2,946 87% $5.95 404 2,206 65% 1900 -2000 $4.05 384 780 23% $3.55 317 1,569 46% $3.55 349 1,716 50% $5.15 392 1,906 56% $5.60 384 1,647 48% Monday 09114115 Tuesday 09115115 Wednesday 09/16/15 Thursday 09117115 Friday 09/18/15 PM Time 'flriile' •.li'j:W.l,, V\jflii:~~! ~·;;i.Hw; Voi; · •·~-J1rit:e .· HOY\. 'oli { cep .. Jlrlcit' Uc>V•vo•. ;;;:-~;;• ~i:9\;t;l!l>V 1400-1500 $4.70 262 1,807 53% $4.70 235 1,590 47% $4.70 270 1,796 53% $4.85 296 2,168 64% $3.20 408 2,914 86% 1500 -1600 $5.05 1600. 1700 $4.85 1700 -1800 $4.85 1800 -1900 $5.05 1900 -2000 $3.55 484 2, 830 83% $3. 80 419 3,128 92% $6. 15 458 3,083 91% $5.55 436 2, 606 77% $3. 60 288 1,339 39% $3.55 Monday 09121/15 PM Time ....... 394 2,549 75% $4.05 349 2,459 72% $7.40 331 2,480 73% $6.90 394 2, 108 62% $3.60 268 1,351 40% $3.55 480 396 422 444 338 2,835 83% $4. 75 2,767 81% $9.80 2,719 80% $9.05 2,432 72% $4.40 1,544 45% $5.15 1400-1500 $4.70 1500 -1600 $5.05 1600 -1700 $4.85 278 477 450 1,826 54% $4.70 270 1,968 58% $4.70 301 2,071 61% 2,877 85% $3.80 483 3,099 91% $4.05 456 2,990 88% $4.75 2,943 87% $6.15 1700 -1800 $4.85 460 3,076 90% $5.55 1800 -1900 $5.05 463 2,410 71% $3.60 1900 -2000 $3.55 278 1,272 37% $3.55 Monday 09/28115 1400 -1500 $4.70 1500 -1600 $5.05 1600 -1700 $4.85 1700-1800 $4.85 1800 -1900 $5.05 1900 -2000 $3.55 268 1,820 54% $4. 70 458 2,859 84% $3.80 449 2, 958 87% $6. 15 396 2,951 87% $5.55 496 2,886 85% $3.60 331 1,398 41% $3.55 426 2,942 87% $7.40 405 2,950 87% $6.90 501 2,893 85% $3.60 401 1,745 51% $3.55 260 2,119 480 2,931 475 2,972 62% $4.70 86% $4.05 87% $7.40 440 2,941 87% $6.90 489 2,928 86% $3.60 370 1,825 54% $3.55 491 449 469 453 3,032 89% $9.80 2,953 87% $9.05 2,814 83% $4.40 2,202 65% $5.15 271 2,047 60% 488 2,995 88% 438 3,070 90% 439 2,930 86% 522 2,830 83% 512 2,203 65% 504 3,017 89% $10.15 584 2,871 84% 460 2,845 84% $9.95 474 2,833 83% 450 2,951 87% $6.40 414 2,926 86% 461 411 2, 727 80% $5. 95 446 2,332 69% 1,821 54% $5.60 440 1,740 51% 09124/15 Friday 09125/15 clip. Prl• UO'V''•L.:'~'1 ':t!ijl~R 315 2,245 66% $3.20 426 3,059 90% 3,114 92% 3,152 93% 478 3,047 90% $10.15 572 449 2,909 86% $9.95 511 419 2,952 87% $6.40 510 2,894 85% $5.95 59% $5.60 438 2,011 428 2,892 85% 415 2, 195 65% 421 1,791 53% 5 • • • • WESTBOUND PEAK-HOUR VOLUMES Monday Tuesday 09/01/15 Wednesday 09/02/15 Thursday 09/03/15 Friday 09/04/15 AMTime Pril;e HOV Ptice:·:·:.Hov Vol. Cap;, Pril;e HOV Vol. Cap. Ptiet HOV' iVol. Cap. Priet ·tfov 'Ji Vol. .:lilP• 0400-0500 $2.80 231 550 16% $2.80 379 1,048 31% $2.80 414 1,038 31% $2.80 353 936 28% 0500 -0600 $4.50 559 1,731 51% $4.50 531 1,715 50% $4.50 580 1,875 55% $4.50 536 1,722 51% 0600 -0700 $4.70 461 1,830 54% $4.70 470 1,967 58% $4.70 502 2,067 61% $4.70 422 1,708 50% 0700. 0800 $5.20 428 1,848 54% $5.20 417 1,910 56% $5.20 363 1,712 50% $5.05 322 1,583 47% 0800. 0900 $4.70 235 1,861 55% $4.70 204 1,780 52% $5.20 226 1,729 51% $4.85 192 1,395 41% 0900 -1000 $3.70 203 1,875 55% $3.70 198 1,638 48% $5.20 212 1,747 51% $4.15 182 1,063 31% Monday 09/07/15 Tuesday 09/08/15 Wednesday 09/09/15 Thursday 09/10/15 Friday 09/11/15 AMTime '.Piice 'HOV ·vot · Cap. Price HOV VoL can. Price HOV 'Vol. Cap. Price HOV " Vol.' Ca~· [jlrift i!iiDV ..•.. Y0£ ~. 0400. 0500 $1.50 29 75 2% $2.80 363 1,096 32% $2.80 383 1,087 32% $2.80 362 998 29% $2.80 366 1,023 30% 0500 -0600 $1.50 56 136 4% $4.50 538 1,911 56% $4.50 570 1,858 55% $4.50 542 1,842 54% $4.25 525 1,786 53% 0600 -0700 $2.30 62 168 5% $4.70 494 1,997 59% $4.70 485 2,010 59% $4.70 523 2, 101 62% $4.50 459 1,827 54% 0700 -0800 $2.30 118 252 7% $5.20 383 1,808 53% $5.20 368 1,749 51% $5.20 366 1,737 51% $5.05 347 1,654 49% 0800 -0900 $2.30 162 429 13% $4.70 186 1,758 52% $4.70 184 1,645 48% $4.70 188 1,764 52% $4.50 207 1,604 47% 0900 -1000 $3.45 323 729 21% $3.70 201 1,743 51% $3.70 176 1,635 48% $3.70 153 1,624 48% $3.70 168 1,329 39% Monday 09/14/15 Tuesday 09/15/15 Wednesday 09/1&115 Thursday 09/17/15 Friday 09/18115 AMTime ~~ :l'frollts.s•;,:s't'Cap. hlce HOV. •• ~·:.~:: •:Pf!ce lltii :vot; .. c.p; f'rlce lfl)v; ,J!:oi,> Clp, '4&.iet >.ttioY .. :~r< ·~; . 0400 -0500 $2.80 361 1,069 31% $2.80 373 1,047 31% $2.80 131 303 9% $2.80 496 1,357 40% $2.80 370 1,040 31% 0500 -0600 $4.50 549 1,832 54% $4.50 464 1,571 46% $4.50 342 989 29% $4.50 524 1,754 52% $4.25 523 1,785 53% 0600. 0700 $4.70 485 1,917 56% $4.70 287 1,222 36% $4.70 283 1,048 31% $4.70 494 1,757 52% $4.50 504 1,691 50% 0700 -0800 $5.20 335 1,670 49% $5.20 320 1,298 38% $5.20 274 1,023 30% $5.20 287 1,405 41% $5.05 342 1,552 46% 0800 -0900 $4.70 200 1,632 48% $4.70 246 1,219 36% $4.70 192 972 29% $4.70 179 1,450 43% $4.50 212 1,351 40% • 0900 -1000 $3.70 145 1,355 40% $3.70 144 1,164 34% $3.70 109 974 29% $3.70 181 1,337 39% $3.70 200 1,259 37% Monday 09/21/15 Tuesday 09/22/15 Wednesday 09/23115 Thursday 09/24/15 Friday 09/25115 AMTime ~ . Jiov, iv~:,;~~ Pr1i:t'.;:::'•~' VJi\; ~; ::Prllif HO\''.~;'.' ~-: Pr4ceii'froll ":VOi. .Cap. .Pritt -;;,~, . ·~·· 0400-0500 $2.80 404 1,113 33% $2.80 422 1,092 32% $2.80 409 1,071 32% $2.80 418 1,311 39% $2.80 367 981 29% 0500-0600 $4.50 549 1,788 53% $4.50 564 1,924 57% $4.50 589 1,916 56% $4.50 611 2,085 61% $4.25 535 1,740 51% 0600 -0700 $4.70 516 1,959 58% $4.70 516 1,945 57% $4.70 512 1,893 56% $4.70 524 2,025 60% $4.50 486 1,845 54% 0700-0800 $5.20 352 1,715 50% $5.20 370 1,740 51% $5.20 344 1,707 50% $5.20 364 1,723 51% $5.05 318 1,598 47% 0800 -0900 $4.70 228 1,647 48% $4.70 197 1,666 49% $4.70 174 1,557 46% $4.70 198 1,790 53% $4.50 195 1,433 42% 0900 -1000 $3.70 172 1,451 43% $3.70 144 1,458 43% $3.70 178 1,499 44% $3.70 184 1,764 52% $3.70 168 1,113 33% Monday AMTime Piice'· HQy Vol. 0400-0500 $2.80 366 1,085 0500 -0600 $4.50 557 1,894 56% 1,823 54% $4.50 1,238 0600 -0700 $4.70 529 2,020 59% $4.70 520 1,993 59% $4.70 381 1,395 0700 -0800 $5.20 341 1,748 51% $5.20 381 1,794 53% $5.20 452 1,816 0800 -0900 $4.70 192 1,607 47% $4.70 184 1,656 49% $4.70 226 1,776 0900 -1000 $3.70 174 1,530 45% $3.70 186 1,712 50% $3.70 182 1,831 • 6 Performance Measures REPORTINGREQUIREMENT Repo:ting II PERFORMANCESTANDARD Sep-15 Period Performance CUSTOM ffi SERVICE Call Wait lime Abandon Rate Customer Satisfaction Convert Violators to Customers Convert Violators to Customers •rn-•N••••.-<-<m-<••••-rn•••mNO<.--,--._,,, _____ ««~~ VIOLATION PROCESSING Response Time CUSA Violation Collection Rate Monthly Monthly Monthly Quarterly ~r1'1"."11X Monthly Quarterly l\bt to exceed 120 seconds fib rrore than 4.0% At least 75 outbound calls 8% or rrore 10% or rrore **2:34 **4.6% 75 1.6 74% Initial & Secondary Reviews Monthly Equal to or less than 15 days I 2.9 * Aate Msread Errors Monthly Equal to or less than 0.4% I 0.05% 1 ·--·-_ CAS ~s,Eo,ns~:i:!~.----~-----~<>!'!~!Y . . _9:_20 (ll:_i!:l':_l~Ei~1.P€l.':.~~--·-~---~--J-....... Q:9,8 __ ,_, ACCOUNTING ----··§.<~El.P!ions,___ ·-··----··-·--·-·--··· ...•. ~.C>~.~iy INFORMATION TECHNOLOGY Back-office System Uptime Monthly 99% Availability Network Uptime Monthly 99% Availability GUSA= Cofiroute USA; GAS= Customer Assistance Specialists 100% 100% •Plate Mis read Error performance is current after a 60-day hold-back period; therefore, percentage reported here is for 2 months prior to the month of this report. -customer service center performance measures were not met due to a higher-than-normal number of incoming calls related to The Toll Roads. Incoming Call Activity L ~~.P~_em ~~5 August-15 FY INCOMING CALL VOLUME : 1 of --~-~-~--r·---- I Total Calls 1 Total TotalCalls 1%ofTotal Average ->= ~" -"" =w'" '' ,, -'k'Y.=<C ,,, "" "" ' Representatives Answered 23,174 64.7% 23,868 65.4% 23~208 IVRAnswered 8,780 24.5% 9,193 25.2% 8,849 *Abandoned Calls =or >20 seconds 1,645 4.6% 1,247 3.4% .. 1!355 '''h" **Abandoned Calls -all others 2,200 6.1% 2,172 6.0% 2,224 Total lncorring Calls: 35,799 36,480 35,636 *This data is used in the Abandoned Calls performance measure. ••This data represents all IVR abandons and abandons outside the performance measure threshold. Transponder Distribution Status Issued To New Accounts 925 37.3% 928 35.7% 932 Additional Tags to Existing Accounts 600 24.2% 665 25.6% 623 Replacement Transponders 954 38.5% 1,008 38.8% 1,021 Total Issued 2,479 ;,rv1::;>;. ;7! 2,601 2,576 Returned Account aosures 457 29.8% 367 26.2% 412 Accounts Downsizing 175 11.4% 108 7.7% 136 Defective Transponders 903 58.8% 924 66.0% Total Returned 1,535 i . I 1,399 m~ 36.2% 24.2% 39.6% 27.7% 9.2% 63.1% 7 • • • • • • At the end of September 2015, the 91 Express Lanes had 118,071 active customer accounts, with 178,528 transponders assigned to those accounts. 122,000 120,000 118,000 116,000 114,000 112,000 110,000 108,000 j:)c, ,,,# 119,992 Operational Highlights On-road Operations Number of Accounts by Fiscal Year As of September 30, 2015 Fiscal Year Customer Assistance Specialists (CAS) responded to 136 calls during September. The CAS team received 87 calls to assist disabled vehides, 7 calls to remove debris and conducted 29 assists or traffic breaks. The CAS provided assistance to 2 accidents in the Express Lanes and 11 accidents in the general-purpose lanes . 8 Financial Highlights 91 Express Lanes Operating Statement YTD as of September 30, 2015 YTD Variance Descriotion 'Actual <1> Budaet <1> Dollar$ Percent(%) ,:o,,f:; '''•<'' ,. :2:0:,; f ,;;; .,,, ·;, <;t;/ ~;\ :> '>' ·.·: ; ' .. ,. ';o,h;>W· ·ct; ' ·; Operating revenues: Toll revenue 9,784,947.85 $ 9,162,301.00 $ 622,646.85 Fee revenue 2, 199,959. 76 1,621,847.00 578, 112.76 Total oneratina revenues 11,984,907.61 10,784, 148.00 1,200, 759.61 'i''®r o!\)<{:/·A <',(' ,,, {; ' '\'{. ::;,'''•'' ·:·:· ( ' yrn,:TI· ,cy~ . ;; ' ' ~""·;)£;•; . Operating expenses: Contracted services 2, 128,535.32 2,099, 160.00 (29,375.32) Administrative fee 651,595.62 722,007.00 70,411.38 Other professional services 177, 173.36 760,998.00 583,824.64 Credit card processing fees 202,811.51 208,086.00 5,274.49 Toll road account servicing 178,096.07 51,870.00 (126,226.07) Other insurance expense 85, 126.63 187,425.00 102,298.37 Toll road maintenance supply repairs 28, 137.11 3,926,231.00 3,898,093.89 Patrol services 145, 131.65 138,696.00 (6,435.65) Building equipment repairs and maint 28,054.97 183,877.00 155,822.03 Other services 1,300.00 5,775.00 4,475.00 Utilities 2,937.91 4,998.00 2,060.09 Office expense 9,272.70 31,871.00 22,598.30 Bad debt expense (1,305.78) -1,305.78 Miscellaneous <2> 5,914.59 28,899.00 22,984.41 Leases 54,669.75 123,702.00 69,032.25 Property taxes --- Total operating expenses 3,697,451.41 8,473,595.00 4, 776, 143.59 Depreciation and amortization 793, 126.36 -(793, 126.36) Oneratina income (loss) 7,494,329.84 2,310,553.00 5, 183, 776.84 Nonoperating revenues (expenses): Reimbursement from Other Agencies -296,248.00 (296,248.00) Interest income 219,367.51 159,196.00 60, 171.51 Investment gain on derivative instrument --- Interest expense (1,436,587.41) ~ (1,436,013.00) (574.41) Other 463,739.11 -463,739.11 Total nonooerating revenues (exoenses) (753,480. 79) (980,569.00) 227,088.21 Transfers in --- Transfers out --- Net income (loss) $ 6,740,849.05 $ 1,329,984.00 $ 5,410,865.05 '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 Seniice Charge, Transponder Materials. 'Depreciation and amortization are not budgeted items. Capital Asset Activity .:·,\if,'.\•, 6.8 35.6 11.1 h;;->t;:: (1.4) 9.8 76.7 2.5 (243.4) 54.6 99.3 (4.6) 84.7 77.5 41.2 70.9 NIA 79.5 55.8 NIA 56.4 NIA 224.4 37.8 NIA (0.0) NIA 23.2 NIA NIA 406.8 During the three months ending September 30, 2015, capital asset activities included $170,591 for the purchase of transponders. 9 • • • • • • ATTACHMENT F m OCTA Orange County Transportation Authority •~Express ..11 Lanes Status Report October 2015 As of October 31, 2015 • • • Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for October 2015 was 1, 177,515. This represents a daily average of 37,984. This is a 6.2% increase in total traffic volume from the same period last year when traffic levels totaled 1,109,248. Potential toll revenue for the month was $3,674,534 which represents an increase of 5.3% from the prior year's total of $3,490,695. Carpool percentage for the month was 21.66% as compared to the previous year's rate of 21.42%. Month-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 month of October 2015. Current Month-to-Date (MTD) as of October 31, 2015 Average 3+ Lanes $0.28 $0.30 ($0.02) $0.31 (97%) Average Gross Revenue $3.12 $3.11 $0.01 0.3% $3.15 2 The 2016 fiscal year-to-date (YTD) traffic volume is 7.4% higher than the same period last year. The 2016 fiscal year-to-date revenue is 8.3% higher than for the same period last year. Year-to- date average revenue per-trip is $3.03. 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 2015 through October 2015. FY 2015-16 to Date as of October 31, 2015 3+ Lanes $0.26 $0.29 $0.27 (3,7%) Revenue Per Trip $3.03 $3.06 $3.01 0.7% 3 • • • • • • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. FY 2015-16 Traffic Volume Overview 1,050,000 875,000 700,000 525,000 350;000 175,000 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month I •Full Toll Lanes •3+ Lanes I The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for FY 2015-16 on a monthly basis. $3,900,000 $3,700,000 $3,500,000 .. $3,300,000 " c .. > .. $3,100,000 0:: $2,900,000 $2,700,000 $2,500,000 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Month •Full Toll lanes •3+Lanes 4 Peak traffic hour in the eastbound direction reached or exceeded 90% or more of defined capacity twenty times during the month of October 2015. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 59% of defined capacity. EASTBOUND PEAK-HOUR VOLUMES 1400 -1500 1500 -1600 1600 -1700 1700 -1800 1800 -1900 1900 -2000 PM Time 1400 -1500 1500 -1600 1600 -1700 1700-1800 1800 -1900 1900-2000 PM Time 1400 -1500 1500 -1600 1600 -1700 1700 -1800 1800 -1900 1900 -2000 PM Time 1400 -1500 1500-1600 1600-1700 1700 -1800 1800 -1900 1900 -2000 PM Time 1400 -1500 1500 -1600 1600 -1700 1700 -1800 1800 -1900 1900 -2000 Monday 09/28/15 Monday 10/05/15 iJrl~ H()f;, 1•"'11cililll $4.70 226 1,725 51% $5.05 465 2,825 83% $4.85 420 3,114 92% $4.85 413 3,044 90% $5.05 440 2,421 71% $3.55 315 1,425 42% Monday 10/12/15 '.l!rice lfill\b.n~\r~••·' $4.70 284 1,830 54% $5.05 524 2,799 82% $4.85 425 2,912 86% $4.85 401 2,803 82% $5.05 420 2,078 61% $3.55 311 1,289 38% Monday 10/19/15 ~":•;;: • ..,,,; : Cai>i $4.70 260 1,856 55% $5.05 526 2,958 87% $4.85 443 3,055 90% $4.85 390 2,963 87% $5.05 485 2,324 68% $3.55 326 1,421 42% Monday 10/26/15 firiCe ·!tt'!Y •itfvot :iC.....: $4.70 286 2,011 59% $5.05 497 2,873 85% $4.85 436 2,923 86% $4.85 439 2,883 85% $5.05 528 2,825 83% $3.55 376 1,659 49% Tuesday Tuesday 10/06115 1'Me t!.Ov\:nV\i{.U1': ital!. $4.70 256 1,983 58% $3.80 502 3,141 92% $6.15 436 2,932 86% $5.55 453 3,058 90% $3.60 490 2,892 85% $3.55 396 1,766 52% Tuesday 10/13/15 ·-;!;{i;p . Yot '.Dai>: $4.70 277 2,009 59% $3.80 491 2,921 86% $6.15 435 2,903 85% $5.55 384 2,568 76% $3.60 516 3,224 95% $3.55 378 1,887 56% Tuesday 10/20/15 ;Jfne& 110¥ft·,:vot:Ji':R,,¢_,. $4.70 266 1,967 58% $3.80 506 2,989 88% $6.15 461 2,978 88% $5.55 437 2,961 87% $3.60 546 3,098 91% $3.55 380 1,874 55% Tuesday 10/27/15 M&}llt'aJ f ~: {[t111;; $4.70 268 2,059 61% $3.80 407 2,748 81% $6.15 502 2,850 84% $5.55 514 3,334 98% $3.60 587 3,161 93% $3.55 387 1,770 52% Wednesday 09/30/15 firiCe HOV : xlfol. \j;~i(;ap, Wednesday 10/07/15 -;· HOV'' v~t: ~~ $4.70 282 2,087 61% $4.05 498 3,010 89% $7.40 442 2,922 86% $6.90 413 2,567 76% $3.60 474 2,487 73% $3.55 518 2,498 73% Wednesday 10/14/15 Prtllf .· ·HOV!> ••; ~- $4.70 309 2,215 65% $4.05 504 3,017 89% $7.40 441 2,942 87% $6.90 451 3,113 92% $3.60 485 2,718 80% $3.55 419 2,020 59% Wednesday 10/21/15 firiCe HOY ' ,.Joi •. :;:cap;:: $4.70 301 2,019 59% $4.05 517 3,244 95% $7.40 443 2,948 87% $6.90 456 3,050 90% $3.60 500 2,867 84% $3.55 390 1,805 53% Wednesday 10/28/15 ~ "' iliftl'2'?:'.1! ... , $4.70 311 2, 156 63% $4.05 580 3,307 97% $7.40 518 2,980 88% $6.90 521 3,037 89% $3.60 572 2,880 85% $3.55 451 1,831 54% Thursday 10/01/15 Friday 10/02115 Price ''!l,OV >;ll91:''. Cap;, Price ;1!,ijjQv \fi'>I• C$; $4.85 293 2,183 64% $3.20 420 2,967 87% $4.75 446 3,019 89% $10.15 573 2,897 85% $9.80 446 2,895 85% $9.95 476 2,840 84% $9.05 522 3,218 95% $6.40 454 2,825 83% $4.40 518 3,045 90% $5.95 451 2,382 70% $5.15 432 1,911 56% $5.60 398 1,677 49% Thursday 10/08115 Friday 10/09/15 Jf!rl!li' HOV' .Viii; c~~ 'l!rice' ,;dff()\i:· t;voL .. i'CJ!p. $4.85 261 2,289 67% $3.20 363 3,007 88% $4.75 474 2,925 86% $10.15 574 2,872 84% $9.80 399 2,763 81% $9.95 467 2,903 85% $9.05 342 2,783 82% $6.40 447 3,066 90% $4.40 481 2,836 83% $5.95 473 2,418 71% $5.15 492 2,422 71% $5.60 428 1,735 51% Thursday 10/15/15 Friday 10/16/15 ;!'!'ice ::ff()f;'.J Vilt 'CaP;' .,;. flOf 'V1il\lrt•· $4.85 272 2, 189 64% $3.20 384 2,977 88% $4.75 487 3,204 94% $10.15 538 2,935 86% $9.80 466 3,023 89% $9.95 460 2,909 86% $9.05 431 2,977 88% $6.40 418 2,616 77% $4.40 494 2,824 83% $5.95 508 2,585 76% $5.15 411 1,917 56% $5.60 426 1,703 50% Thursday 10/22/15 Friday 10/23/15 H!!ri~F)!O:\' •1i;K' caPK -·>-~I. 'i~'Cap. $4.85 294 2,229 66% $3.20 413 2,993 88% $4.75 480 3,120 92% $10.15 505 2,863 84% $9.80 358 2,228 66% $9.95 488 2,952 87% $9.05 391 2,235 66% $6.40 396 2,855 84% $4.40 592 3,251 96% $5.95 488 2,629 77% $5.15 439 2,070 61% $5.60 441 1,841 54% Thursday 10/29/15 Friday 10/30/15 ~::~·c4 '!!rice 5f!Of·.• c811'. .. ,:,ffi. • •• $4.85 261 2,290 67% $3.20 384 3,035 89% $4.75 510 3,056 90% $10.15 540 2,960 87% $9.80 469 2,909 86% $9.95 446 2,931 86% $9.05 465 2,926 86% $6.40 410 2,908 86% $4.40 524 2,899 85% $5.95 528 2,673 79% $5.15 510 2,327 68% $5.60 429 1,908 56% 5 • • • • WESTBOUND PEAK-HOUR VOLUMES Thursday 10101115 Friday 10102115 AM Time Ptk;e. . ff(w Vol. cap. Prie& HOV <Vol • cap. 0400. 0500 $2.80 390 1,094 32% $2.80 363 1,019 30% 0500 -0600 $4.50 568 1,875 55% $4.25 553 1,831 54% 0600 -0700 $4.70 521 1,964 58% $4.50 497 1,804 53% 0700 -0800 $5.20 385 1,763 52% $5.05 328 1,579 46% 0800 -0900 $4.70 200 1,695 50% $4.50 194 1,437 42% 0900 -1000 $3.70 211 1,741 51% $3.70 151 1,185 35% Monday 10105115 Tuesday 10106115 Wednesday 10/07115 Thursday 10108115 Friday 10109/15 AM Time Price ..• HOV . 'Jot>; Cap; Price MDV. Vii!; '!~~ Price,; HOV VlJJ. ()>ip. .Prie& . ·:f!OV vo1 • Cap. Pti~ 'HOV Vol.·: QaiJ.:: 0400 -0500 $2.80 391 1,207 36% $2.80 413 1,149 34% $2.80 396 1, 197 35% $2.80 399 1,142 34% $2.80 343 966 28% 0500 -0600 $4.50 552 1,980 58% $4.50 546 1,874 55% $4.50 588 1,862 55% $4.50 629 1,954 57% $4.25 541 1,846 54% 0600 -0700 $4.70 486 1,924 57% $4.70 447 1,718 51% $4.70 530 1,911 56% $4.70 517 1,933 57% $4.50 489 1,764 52% 0700 -0800 $5.20 354 1,654 49% $5.20 379 1,754 52% $5.20 380 1,749 51% $5.20 329 1,656 49% $5.05 346 1,594 47% 0800 -0900 $4.70 172 1,620 48% $4.70 208 1,761 52% $4.70 191 1,667 49% $4.70 209 1,603 47% $4.50 215 1,544 45% 0900 -1000 $3.70 149 1,530 45% $3.70 175 1,772 52% $3.70 188 1,754 52% $3.70 178 1,478 43% $3.70 168 1,289 38% Monday 10112115 Tuesday 10113/15 Wednesday 10114115 Thursday 10115115 Friday 10116115 AM Time "'1!C.7 'HOV 'Jot.: .. QQi .. i 'Pt~ ' tlOV ; J@f, /1:)jp. ··~· HOV v~. can. Pritt .• :t!OV . VlJI •. · Cap. Pt~. ,;1{()V' >:VOi. ,. eao.; 0400 -0500 $2.80 389 1,160 34% $2.80 410 1,174 35% $2.80 400 1,066 31% $2.80 386 1,094 32% $2.80 345 1,047 31% 0500 -0600 $4.50 510 1,828 54% $4.50 603 1,909 56% $4.50 616 1,896 56% $4.50 593 1,926 57% $4.25 562 1,846 54% 0600 -0700 $4.70 428 1,803 53% $4.70 506 1,861 55% $4.70 494 1,866 55% $4.70 493 1,867 55% $4.50 459 1,722 51% 0700 -0800 $5.20 308 1,578 46% $5.20 322 1,627 48% $5.20 356 1,749 51% $5.20 344 1,651 49% $5.05 312 1,566 46% 0800-0900 $4.70 175 1,445 43% $4.70 208 1,689 50% $4.70 202 1,674 49% $4.70 199 1,667 49% $4.50 194 1,525 45% • 0900 -1000 $3.70 195 1,228 36% $3.70 220 1,817 53% $3.70 163 1,562 46% $3.70 195 1,665 49% $3.70 174 1,294 38% Monday 10119/15 Tuesday 10/20/15 Wednesday 10/21/15 Thursday 10/22115 Friday 10/23/15 AM Time .p!J1:e•;''.i\HOV :;}iYOI.' ; dali':' ~·.· ~ ·.~!:.:.:·;;~~ ~. ••l!OV. :•::v01;:•t1<c.io:,. ·~ ;;;ijq¥ ;~:VOi. ~· Prlct: . HOV Vol. e;p:_• 0400. 0500 $2.80 357 1,105 33% $2.80 366 979 29% $2.80 374 1,080 32% $2.80 412 1,141 34% $2.80 367 1,071 32% 0500 -0600 $4.50 582 1,939 57% $4.50 605 1,909 56% $4.50 640 1,995 59% $4.50 616 1,922 57% $4.25 566 1,865 55% 0600-0700 $4.70 476 1,813 53% $4.70 518 1,976 58% $4.70 522 2,008 59% $4.70 517 1,941 57% $4.50 479 1,712 50% 0700-0800 $5.20 360 1,713 50% $5.20 358 1,715 50% $5.20 359 1,742 51% $5.20 346 1,691 50% $5.05 302 1,545 45% 0800 -0900 $4.70 188 1,589 47% $4.70 224 1,740 51% $4.70 197 1,628 48% $4.70 212 1,589 47% $4.50 189 1,403 41% 0900 -1000 $3.70 147 1,435 42% $3.70 191 1,619 48% $3.70 185 1,737 51% $3.70 200 1,648 48% $3.70 147 1,144 34% Monday 10/26/15 Tuesday 10/2,7/!~*-~edn::day .:~/2~1.5. eatl:' Thursday 10/29/15 Friday 10/30/15 AM Time •Price · tm\i: ·~·· ·.· c.p: ·~~· -.VOL. •.. .. J!rk;e.. .,HOV . ,.)Vol,,.... . •Pi1~'.:';1{QV "'Vii.. . cap;• ''ilffilt0!. l!OV !141!'\ . •<:!!!~ 0400 -0500 $2.80 406 1,212 36% $2.80 375 1,129 33% $2.80 372 1,104 32% $2.80 251 684 20% $2.80 376 1,077 32% 0500-0600 $4.50 490 1,710 50% $4.50 614 1,944 57% $4.50 624 1,942 57% $4.50 640 1,969 58% $4.25 576 1,846 54% 0600 -0700 $4.70 488 1,939 57% $4.70 516 1,899 56% $4.70 523 1,889 56% $4.70 490 1,821 54% $4.50 470 1,736 51% 0700 -0800 $5.20 404 1,835 54% $5.20 363 1,748 51% $5.20 358 1,706 50% $5.20 354 1,650 49% $5.05 312 1,598 47% 0800 -0900 $4.70 195 1,684 50% $4.70 196 1,774 52% $4.70 256 1,695 50% $4.70 204 1,676 49% $4.50 194 1,295 38% 0900 -1000 $3.70 228 1,785 53% $3.70 179 1,590 47% $3.70 349 1,605 47% $3.70 169 1,542 45% $3.70 160 1,210 36% • 6 Performance Measures REPORTING REQUIREMENT Repo.rting j' PERFORMANCE STANDARD , Oct-15 Period Performance ~ ~ . CUSTOM ER SERVICE Call Wait Time Abandon Rate Customer Satisfaction Monthly Not to exceed 120 seconds Monthly No rrore than 4.0% Monthly At least 75 outbound calls Quarterly 8% or rrore 0:56 1.7% 75 Convert Violators to Customers Convert Violators to Customers !------~~~~ly ... __ 1_~0/o_(>! .. fl!'~.-----·-·-----·--A..--~"'"'-~"'-1 VIOLATION PROCESSING Response Time Monthly Within 2 business days of receipt GUSA Violation Collection Rate Quarterly 70% or rrore ~--CUS __ A_'Y__io_la_t~!:!_.Collection_Ra_te _____ ~nnu~lly. ___ 7www4% ... or rro_re_·--·-www·-----WWWKLLL:..-:.LU TRAFRC OPERATIONS Initial & Secondary Reviews Monthly 3.4 Equal to or less than 15 days * Aate Msread Errors Monthly Equal to or less than 0.4% 0.05% .__ ___ CA._S_Re_s,,,).p_o_n_s_e_Ti_1me_________ M onthl1. -2.:.2,0_( ninut~) per c~_ll _____ ~ ____ o_:0_8 __ _,, ACCOUNTING 1---·-Ex_c_e~p_tio_ns _____________ Monthly __ No __ .. fl!'.~.~--h_an_3 _________ -c... ___ 0 __ -----1 INFORMATION TECHNOLOGY Back-office System Uptime Network Uptime Monthly Monthly GUSA = Cofiroute USA; GAS= Gusto mer Assistance Specialists 99% Availability 99% Availability 100% 100% •Plate Misread Error performance is current after a 60-day hold-back period; therefore, percentage reported here is for 2 months prior to the month of this report. Incoming Call Activity I ~Oct()ber-15 _ -· ~ptember-15 FY INCOMING CALL VOLUME ! %of 1 Total Calls : Total Total Calls i % of Total Average w 'CG '"""'"" z o~ )(" ,. Representatives Answered 24,141 68.7% 23,174 64.7% 23,441 IVR Answered 8,253 23.5% 8,780 24.5% 8,700 *Abandoned Calls =or >20 seconds 599 1.7% 1,645 4.6% 1,166 **Abandoned Calls -all others 2,165 6.2% 2,200 6.1% 2,210 . Total lnconing Calls: 35,158 35,799 35,517 *This data is used in the Abandoned Calls performance measure. ••This data represents all IVR abandons and abandons outside the perforrrance measure threshold. Transponder Distribution Status f October-15 I September-15 1 FY 2015-16 TRANSPONDER DISTRIBUTION ·-·-· -·4-· --· · ~·-···· --·----~ Tags % of Total I Tags I% of Total Average To-Date " " " »~ ~ ~ """" " = "' ""' ' ~ ' """'"' Issued To New Accounts 894 35.4% 925 37.3% 923 36.0% Additional Tags to Existing Accounts 620 24.5% 600 24.2% 622 24.3% Replacement Transponders 1,013 40.1% 954 38.5% 1,019 39.7% ···i ,:;'tt'.'.G1r> :X;. ! ~' Total Issued 2,527 ';~: 2,479 ~{±f;t.10£~LJ,, 2,564 Returned Account aosures 599 30.6% 457 29.8% 459 28.6% Accounts Downsizing 178 9.1% 175 11.4% 147 9.1% Defective Transponders 1, 181 60.3% 903 58.8% 998 62.2% Total Returned 1,958 1,535 1,604 et~ 7 • • • • • • At the end of October 2015, the 91 Express Lanes had 118,049 active customer accounts, with 179,315 transponders assigned to those accounts. 122,000 120,000 118,000 116,000 114,000 112,000 110,000 108,000 j:)" ,.,,# 119,992 Operational Highlights On-road Operations Number of Accounts by Fiscal Year As of October 31, 2015 Fiscal Year Customer Assistance Specialists (CAS) responded to 139 calls during October. The CAS team received 81 calls to assist disabled vehicles, 13 calls to remove debris and conducted 32 assists or traffic breaks. The CAS provided assistance to 8 accidents in the Express Lanes and 5 accidents in the general-purpose lanes . 8 Financial Highlights 91 Express Lanes Operating Statement YTD as of October 31, 2015 YTD Variance Description Actual 111 Budget <11 Dollar$ Operating revenues: Toll revenue 13,229,508.63 $ 12,272,924.00 $ 956,584.63 Fee revenue 3,249,213.57 2,393,263.00 855,950.57 Total operating revenues 16,478, 722.20 14,666, 187.00 1,812,535.20 Operating expenses: Contracted services 2,791,892.16 2,798,880.00 6,987.84 Administrative fee 868,794.16 895,288.00 26,493.84 Other professional services 211,537.66 926,489.00 714,951.34 Credit card processing fees 279,932.57 279,818.00 (114.57) Toll road account servicing 278,384.28 93, 100.00 (185,284.28) Other insurance expense 113,502.17 249,900.00 136,397.83 Toll road maintenance supply repairs 45,365.44 68,308.00 22,942.56 Patrol services 191,557.67 184,928.00 (6,629.67) Building equipment repairs and maint 139,607.04 229,500.00 89,892.96 Other services 1,950.00 6,450.00 4,500.00 Utilities 4,576.66 6,664.00 2,087.34 Office expense 17,201.58 34,953.00 17,751.42 Bad debt expense (1,819.85) -1,819.85 Miscellaneous <2l 8, 100.02 35,362.00 27,261.98 Leases 74,296.75 164,936.00 90,639.25 Total operating expenses 5,024,878.31 5,974,576.00 949,697.69 Depreciation and amortization l 3l 1,060,245.62 -(1,060,245.62) Ooerating income (loss) 10,393,598.27 8,691,611.00 1,701,987.27 Nonoperating revenues (expenses): Reimbursement from other agencies -561,664.00 (561,664.00) Interest income 312,905.93 204,518.00 108,387.93 Investment gain on derivative instrument --- Interest expense (1,906,991.55)" (1,914,684.00) 7,692.45 Other 488,958.99 -488,958.99 Total nonoperating revenues (expenses) (1, 105, 126.63) (1, 148,502.00) 43,375.37 Transfers in --- Transfers out --- Net income Closs) $ 9,288,471.64 $ 7,543, 109.00 $ 1,745,362.64 '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 SenAce Charge, Transponder Materials. 'Depreciation and amortization are not budgeted items. Capital Asset Activity Percent(%) 7.8 35.8 12.4 0.2 3.0 77.2 (0.0) (199.0) 54.6 33.6 (3.6) 39.2 69.8 31.3 50.8 NIA 77.1 55.0 15.9 NIA 19.6 53.0 NIA 0.4 NIA 3.8 NIA NIA 23.1 • • During the four months ending October 31, 2015, capital asset activities included $231,898 for the purchase of transponders. • dtr::--9 • 4 . • • •m OCTA • • December 4, 2015 To: From: Subject: Overview State Route 91 Advi$p?·C~mittee Kirk Avila, General M~r.~1 Express Lanes Fiscal Year 2014-15 91 Express Lanes Annual Financial Statements 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 2014-15 and has issued its independent auditor's opinion. A copy of the audited financial statements is attached for State Route 91 Advisory Committee review. Recommendation Receive and file the Fiscal Year 2014-15 91 Express Lanes Annual Financial Statements. Background The Orange County Transportation Authority (OCTA) prepares the financial statements for the 91 Express Lanes Fund, which present the results of operations during the preceding fiscal year (FY) and the financial position at year end. In addition, OCTA is required to obtain an independent auditor's opinion on the financial statements. The audit was conducted by Vavrinek, Trine, Day and Co., LLP (VTD), an independent accounting firm, to obtain reasonable assurance as to whether the financial statements are free of material misstatement. Discussion VTD has completed its annual audit and has issued its opinion of the 91 Express Lanes financial statements for the FY ended June 30, 2015. The audits were conducted in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in the Government Auditing Standards, issued by the Comptroller General of the Orange County Transportation Authority 550 South Main Street/ P.O. Box 14184/0range/Califomia 92863-15841(714) 560-0CTA (6282) Fiscal Year 2014-15 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 lhe 91 Express Lanes Fund, as of June 30, 2015. 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 presentation. Attachment A. 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Financial Statements for the Fiscal Year Ended June 30, 2015 • • • • • • 91 EXPRESS LANES FUND (An Enterprise Fund of the Orange County Transportation Authority) FINANCIAL STATEMENTS For the Fiscal Year Ended June 30, 2015 ATTACHMENT A • 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Financial Statements For the Fiscal Year Ended June 30, 2015 Contents Independent Auditors' Report. ................................................................................................................... 1 Management's Discussion and Analysis ................................................................................................... 3 Financial Statements: Statement of Net Position ............................................................................................................................ 9 Statement of Revenues, Expenses and Changes in Fund Net Position ............................................... 10 Statement of Cash Flows ........................................................................................................................... 11 • Notes to the Financial Statements ............................................................................................................ 13 • • • • Vavrinek, Trine, Day & Co., LLP Certified Public Accountants INDEPENDENT AUDITORS' REPORT Board of Directors Orange County Transportation Authority Orange, California Report on the Financial Statements VALUE THE DIFFERENCE We have audited the accompanying financial statements of the 91 Express Lanes Fund, an enterprise fund of Orange County Transportation Authority (OCTA), as of and for the year ended June 30, 2015, and the related notes to the financial statements, as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error . Auditors' Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the 91 Express Lanes Fund as of June 30, 2015, and the changes in financial position, and cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. 25231 Paseo De Alicia, Suite 100 Laguna Hills, CA 92653 Tel: 949.768.0833 www.vtdcpa.com Fax: 949.768.8408 Emphasis of Matter As described in Note 1 to the financial statements, the financial statements present only the 91 Express Lanes Enterprise Fund of OCT A and do not purport to, and do not, present fairly the financial position of OCT A as of June 30, 2015, 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. 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 3-8, 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 30, 2015, on our consideration of OCT A'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 perfonned in accordance with Government Auditing Standards in considering OCT A's internal control over financial reporting and compliance. ViVY1 ~, .,-;,µ_ , 0-y ~,Co. LLP Laguna Hills, California October 30, 2015 2 • • • ---------------------------------------------------------- • • • 91 Express Lanes Fund Management's Discussion and Analysis (unaudited) For the Fiscal Year Ended June 30, 2015 As management of the 91 Express Lanes Fund (91 EL), an enterprise fund of the Orange County Transportation Authority, we offer readers of the 91 EL financial statements this narrative overview and analysis of the 91 EL's financial activities for the fi;cal year ended June 30, 2015. We encourage readers to consider the information on financial performance presented in conjunction with the financial statements that begin on page 9. All amounts, unless otherwise indicated, are expressed in thousands of dollars. Financial Highlights • At the end of fiscal year 2014-15, the total net position of the 91 EL was $128,184 and consisted of net investment in capital assets of $25,200; restricted net position of $13,032; and unrestricted net position of $89,952. Net position increased $21,335 during fiscal year 2014-15, which represents an increase of 20% from the fiscal year 2013-14 ending net position. The increase is primarily due to operating revenues in excess of operating expenses offset by bond interest expense. • In fiscal year 2014-15, total operating revenues increased by $3,522, which represents an 8% increase from the fiscal year 2013-14, primarily due to a 6% increase in total trips in addition to the collection of violation fees. Total operating expenses increased by $1,168, which represents a 6% increase from the fiscal year 2013-14, primarily due to an increase in professional services paid for road maintenance and repairs, collection services and studies related to road improvement projects. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the 91 EL's financial statements. The financial statements are comprised of the fund financial statements and notes to the financial statements. The statement of net position presents information on all of the 91 EL' s assets, deferred outflows of resources, deferred inflows of resources and liabilities, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the 91 EL is improving or deteriorating. The statement of revenues, expenses and changes in fund net position presents information showing how the 91 EL's net position changed during the fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. The 91 EL fund financial statements can be found on pages 9-12 of this report. Notes to the financial statements provide additional information that is essential to a full understanding of the data provided in the financial statements. The notes to the financial statements can be found on pages 13-30 of this report. 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, 2015, the 91 EL's net position was $128,184, an increase of $21,335 from June 30, 2014. Our analysis below focuses on net position (Table 1) and changes in net position (Table 2) of the 91 EL' s financial activities. Current and other assets Restricted assets Capital assets, net Table 1 91 Express Lanes Fund Net Position Intangible asset -toll road franchise, net Total assets Total deferred outflows of resources Current liabilities Long-term liabilities Total liabilities Net position: Net investment in capital assets Restricted Unrestricted Total net position 2015 $ 101,000 23,831 2,868 130,628 258,327 10,350 16,124 124,369 140,493 25,200 13,032 89,952 $128,184 2014 $ 80,476 23,813 3,094 133,215 240,598 11,020 14,681 130,088 144,769 23,114 13,015 70,720 $106,849 In fiscal year 2014-15, total assets increased by $17,729, which represents an increase of 7% from the fiscal year 2013-14, due to an increase in cash, investments and receivables. Refer to notes 4 and 5 for changes in capital and intangible assets. Total liabilities decreased by $4,276 primarily due to principal and interest paid during the fiscal year for bonds payable. The 91 EL's net investment in capital assets was $25,200 compared to $23,114 in 2014. The 91 EL's net position reflects 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 $2,086 in net investment in capital assets was primarily due to $5,569 reduction in related outstanding debt used to acquire capital assets offset by depreciation and amortization of assets. Restricted net position, representing resources subject to external restrictions on how they may be used, were 10% and 12% of the total net position at June 30, 2015 and 2014, respectively. The $17 increase in restricted net position is related to investment activity in bond reserve accounts. 4 • • • • • • 91 Express Lanes Fund Management's Discussion and Analysis 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 $70,720 at June 30, 2014 to $89,952 at June 30, 2015. This increase of $19,232 was primarily due to operating revenues in excess of operating expenses. The analysis in Table 2 focuses on the changes in net position. Table 2 91 Express Lanes Fund Changes in Net Position Revenues: Operating revenues: Tolls, fees, and fines Total operating revenues Operating expenses: Management and operational services Administrative overhead Other operating expenses Insurance claims and premiums Professional services General and administrative Depreciation and amortization Total operating expenses Operating income Nonoperating revenues (expenses): Investment earnings Interest expense Other Total nonoperating revenues (expenses) Changes in net position Total net position-beginning Total net position-ending 2015 2014 $ 46,132 $ 42,610 46,132 42,610 8,083 7,878 2,606 2,290 11 12 351 334 4,621 3,885 415 348 3,622 3,794 19,709 18,541 26,423 24,069 702 701 (5,878) (5,914) 88 108 (5,088} (5,936} 21,335 18,133 106,849 88,716 $ 128,184 $ 106,849 91 EL's total operating revenues increased by 8%, while total operating expenses increased by 6%. Total traffic volume on the 91 EL during fiscal year 2014-15 was 13,106,882 trips reflecting an increase of 6% in comparison to fiscal year 2013-14 and contributed to an increase in revenue from toll road fees. The increase in operating expenses is primarily attributable to professional services, management and overhead costs as explained under the financial highlights section . 5 91 Express Lanes Fund Management's Discussion and Analysis Capital Assets and Intangible Asset Capital Assets As of June 30, 2015, the 91 EL had $2,868 net of accumulated depreciation, invested in a broad range of capital assets including: construction in progress, improvements, 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 2014-15 was $226, which was primarily due to depreciation. Table 3 91 Express Lanes Fund Capital Assets, net of depreciation and amortization Construction in progress Improvements Computer hardware and software Transponders Equipment, furniture, and fixtures Total capital assets, net 2015 264 1,488 112 955 49 $2,868 2014 10 1,670 435 948 31 $3,094 Major capital asset deletions during 2015 included $356 and $442 for disposal of transponders and computer equipment respectively. The equipment had reached the end of its useful life. The 91 EL has outstanding capital expenditure commitments, the most significant of which is $1,529 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, 2015 was as follows: Beginning Ending Balance Increases Decreases Balance Toil facility franchise $ 205,264 $ $ $ 205,264 Less accumulated amortization (72,049) (2,587) (74,636) Total toll facility franchise, net $ 133,215 $ (2,587) $ $ 130,628 More detailed information about the 91 EL' s intangible asset is presented in note 5 to the financial statements. 6 • • • • • • 91 Express Lanes Fund Management's Discussion and Analysis Debt Administration As of June 30, 2015, the 91 EL had $119,490 in tax-exempt bonds outstanding compared to $124,415 at June 30, 2014, as presented in Table 4. Tax-exempt bonds Table4 91 Express Lanes Fund Outstanding Debt 2015 2014 $119,490 $124,415 Additional information on long-term debt can be found in note 6 to the financial statements. Economic and Other Factors The 91 EL makes up $44,158 or 4.3% of OCT A's fiscal year 2015-16 revenue budget. In fiscal year 2015-16, toll revenue is forecasted to decrease by .13% over the fiscal year 2014-15 budgeted value. This decrease is due to the anticipated closures needed for the pavement rehabilitation and variable message signs replacement project. The average long term rate of growth for toll road revenues beyond fiscal year 2015-16 is 5.7%. The majority of expenses related to the 91 EL within the fiscal year 2015-16 budget are on-going general costs related to day to day operations of the toll facility. Since the 91 EL is a fully electronic toll facility, motorists pay tolls through the convenient use of windshield mounted FasTrak® transponders that automatically deduct toll charges from a prepaid account. At the end of fiscal year 2014-15, there were 116,813 active customer accounts, with 176,790 transponders assigned to those accounts. OCT A, in concert with Cal trans and Riverside County Transportation Commission (RCTC), issued an annual SR-91 Implementation Plan to establish a program of projects eligible for funding by potential excess 91 EL toll revenue and other funds. The total cost for the first set of projects is approximately $1,887,000. One of these projects is the initial SR-91 corridor improvement project that will widen the SR-91 by one general purpose lane in each direction east of Green River Road, adds collector-distributor roads and direct south connectors at Interstate-15 (1-15)/SR-91 and extends the 91 EL to 1-15. Construction began in fiscal year 2013-14 and is expected to be completed in fiscal year 2016-17. This project requires close coordination with RCTC in order to minimize impacts to the 91 EL' s operations . 7 91 Express Lanes Fund Management's Discussion and Analysis • Contacting 91 EL's Management This financial report is designed to provide a general overview of the 91 EL' s finances for all those with an interest in the government's finances and to demonstrate the 91 EL' s accountability for the money it t_-... receives. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the Finance and Administration Division at the Orange County Transportation Authority, 550 South Main Street, P.O. Box 14184, Orange, California 92863-1584. 8 • • • • • 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Statement of Net Position June 30, 2015 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: Nondepreciable Depreciable Intangible asset -toll road 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 . 9 92,702,397 103,087 6,799,637 1,062,832 332,428 101,000,381 23,830,661 263,476 2,604,274 130,627,982 157,326,393 258,326,774 10,350,308 10,350,308 3,934,479 2,183,334 212,703 4,446,133 272,172 5,075,000 16,123,821 124,369,194 124,369,194 140,493,015 25,200,370 14,662 10,013,442 3,004,033 89,951,560 128,184,067 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Statement of Revenues, Expenses and Changes in Fund Net Position For the Year Ended June 30, 2015 Operating revenues: Tolls, fees, and fines $ Operating expenses: Management and operational services Administrative overhead Other operating expenses Insurance claims and premiums Professional services General and administrative Depreciation and amortization Total operating expenses Operating income Nonoperating revenues (expenses): Investment earnings Interest expense Other Total nonoperating revenues (expenses) Change in net position Total net position -beginning Total net position -ending $ See accompanying notes to the financial statements. 10 • 46,132,245 8,083,194 2,606,382 11,640 350,751 4,620,515 414,658 3,622,123 19,709,263 26,422,982 702,495 (5,878,631) 88,183 {5,087,953) • 21,335,029 106,849,038 128,184,067 • • • • 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Statement of Cash Flows For the Year Ended June 30, 2015 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 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 Net cash provided by 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 . 11 45,038,717 (12,383,840) (2,606,382) 88,183 30,136,678 (4,925,000) (5,871,475) (809,022) (11,605,497) 680,670 680,670 19,211,851 97,321,207 116,533,058 92,702,397 23,830,661 116,533,058 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Statement of Cash Flows (Continued) For the Year Ended June 30, 2015 Reconciliation of operating income (loss) to net cash provided by (used for) operating activities: Operating income $ Adjustments to reconcile operating income to net cash provided by (used for) operating activities: Depreciation expense Amortization of Franchise Agreement Amortization of prepaid expense Amortization of prepaid insurance Miscellaneous Change in assets and liabilities: Violations receivables, net Other receivables, net Other assets Accounts payable Due to other governments Unearned revenue Other liabilities Total adjustments Net cash provided by operating activities $ Noncash capital, financing and investing activities: Amortization of bond premium $ Amortization of bond deferred charges $ Investment earnings $ See accompanying notes to the financial statements. 12 • 26,422,982 1,035,430 2,586,693 291,063 350,751 88,183 (1,292,595) 17,135 (674,619) 917,020 212,703 190,212 ~8,280~ 3,713,696 30,136,678 • (643,937) 669,562 22,146 • • • • 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 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 OCTA. These financial statements are not intended to present the activities of OCTA. 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 an Investment Policy (Policy) adopted initially 13 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 by OCTA's Board of Directors (Board) on May 8, 1995, and most recently amended on May 22, 2015. The Policy complies with, or is more restrictive than, the California Government Code (Code). At June 30, 2015, the investment portfolios were maintained at MUFG Union Bank, N.A. as custodial bank. OCTA's Commingled Investment Pool is managed by four private sector investment managers. Separate investment manager accounts are maintained for the proceeds of bond issues, with the earnings for each bond issue accounted for separately. Cash from other OCT A revenue sources is commingled for investment purposes in the OCT A Commingled Investment Pool, with investment earnings allocated to the different accounts based on average daily account balances. Investments in U.S. government and U.S. agency securities, medium-term notes, repurchase agreements, variable and floating rate securities, commercial paper, mortgage and asset-backed securities and corporate notes are carried at fair value based on quoted market prices, except for securities with a remaining maturity of one year or less at purchase date, which are carried at cost. Treasury mutual funds are carried at fair value based on each fund's share price. The Orange County Treasury Investment Pool (OCIP) is carried at fair value based on the value of each participating dollar as provided by the OCIP. The state managed Local Agency Investment Fund (LAIF) is carried at fair value based on the value of each participating dollar as provided by LAIF . The Policy requires that assets in the portfolio consist of the following investments, with maximum permissible concentrations based on book value, and may be more restrictive than applicable state statutes for the following investment types: OCTA notes and bonds, U.S. treasuries, federal instrumentality securities, federal agencies, State of California and local agency obligations, banker's acceptance, commercial paper, negotiable certificates of deposit, repurchase agreements, medium-term maturity corporate securities, money market funds, other mutual funds, mortgage or asset-backed securities, LAIF, OCIP, variable and floating rate securities and bank deposits. Investment agreements are also allowed for bond issues. All investments are subject to a maximum maturity of five years, unless specific direction to exceed the limit is given by the Board and as permitted by the Code. OCT A policy is to invest only in high quality instruments as permitted by the Code, subject to the limitations of the Policy. Cash and Cash Equivalents For the purpose of the statement of cash flows, OCTA considers all short-term investments with an initial maturity of three months or less to be cash equivalents. All deposits, commercial paper, money market mutual funds, certificates of deposit, and the 91 Express Lanes Fund's share of the OCT A Commingled Investment Pool represent cash and cash equivalents for cash flow purposes . 14 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 Restricted Cash and Investments Investments set aside in the Senior Lien Reserve Fund, Major Maintenance Reserve Fund, and Operating Reserve Fund are pursuant to the terms of the 2013 Indenture for the $124,415,000 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, banker's 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 or equal to 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 $790,119 at June 30, 2015. 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 $347,442 at June 30, 2015. An estimated $5.3 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 construction in progress, 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 . 15 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 Capital assets are depreciated using the straight-line method over the following estimated useful lives: Capital Asset Type Improvements Equipment, furniture and fixtures Computer hardware and software Transponders Intangible Asset -Toll Facility Franchise Useful Life 10-30years 3-10years 3-5years 5-7years OCT A purchased the interest in the Franchise Agreement for the toll facility from CPTC on January 3, 2003. The toll facility franchise is amortized over the remaining life of the Franchise Agreement through December 2065. Deferred outflows In addition to assets, the statement of net position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period and so will not be recognized as an outflow of resources (expense) until then. As of June 30, 2015, the 91 Express Lanes Fund only has one item that qualifies for reporting in this category. It is the deferred charge on refunding reported in the statement of net position. A deferred charge on refunding results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt. 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 OCT A's self-insurance general liability program. 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. 16 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 • 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 2013 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 2015, OCT A implemented the following GASB Statements: GASB Statement No. 68 In June 2012, GASB issued Statement No. 68, Accounting and Financial Reporting for Pensions -an amendment of GASB Statement No. 27. The primary objective of this statement is to improve accounting and financial reporting by state and local governments for pensions. It also improves information provided by state and local governmental employers about financial support for pensions that is provided by other entities. There was no current effect on the financial statements of the 91 Express Lanes Fund as a result of implementing this statement. GASB Statement No. 69 In January 2013, GASB issued Statement No. 69, Government Combinations and Disposals of Government Operations. This statement establishes accounting and financial reporting standards related to government combinations and disposals of government operations. As used in this statement, the term government combinations includes a variety of transactions referred to as mergers, acquisitions, and transfers of operations. There was no current effect on the financial statements of the 91 Express Lanes Fund as a result of implementing this statement. GASB Statement No. 71 In November 2013, GASB issued Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date-an amendment of GASB Statement No. 68. 17 --------------------------~ 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 This statement amends paragraph 137 of Statement No. 68 to require that, at transition, a government recognizes a beginning deferred outflow of resources for its pension . I contributions, if any, made subsequent to the measurement date of the beginning net pension liability. Statement No. 68, as amended, continues to require that beginning balances for other deferred outflows of resources and deferred inflows of resources related to pensions be reported at transition only if it is practical to determine all such amounts. There was no current effect on the financial statements of the 91 Express Lanes Fund as a result of implementing this statement. 3. Cash and Investments Cash and investments are comprised of the following at June 30, 2015: Deposits: Petty cash Deposits Total deposits Investments: With OCT A Commingled Investment Pool With trustee Total investments Total cash and investments $ 550 159,321 159,871 92,559,994 23,813,193 116,373,187 $ 116,533,058 Total deposits and investments are reported in the financial statements as: Unrestricted cash and investments Restricted cash and investments: Cash equivalents Total cash and investments $ 92,702,397 23,830,661 $ 116,533,058 As of June 30, 2015, the 91 Express Lanes Fund had the following investments: Interest Rate Maturity Investment Fair Value Princi£al Range Range OCT A Commingled 0.01% -7/1/15- Investment Pool $ 92,559,994 $ 92,357,438 4.37% 6/1/20 Held by trustee: Money Market Mutual Funds 3,139 3,139 0.01% 7/1/15 Certificates of Deposit 13,000,000 13,000,000 0.08% 7/1/15 Commercial Paper 10,810,054 10,810,588 0.10% 8/5/15 Total investments $ 116,373,187 $ 116,171,165 18 Weighted Average Maturity (Years) 1.90 lDay 1 Day .10 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 Portfolio Weighted Average 1.86 Interest Rate Risk 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. OCT A maintains a low duration strategy, targeting an estimated average portfolio duration of three years or less, with the intent of reducing interest rate risk. Portfolios with low duration are less volatile, therefore less sensitive to interest rate changes. In accordance with the Policy, amounts restricted for debt service reserves are invested in accordance with the maturity provision of their specific indenture, which may extend beyond five years. As of June 30, 2015, the 91 Express Lanes Fund participated in OCT A's Commingled Investment Pool which had asset-backed securities totaling $91,745,255 recorded in the pool. The underlying assets are consumer receivables that include credit cards, auto and home loans. The securities have a fixed interest rate and are rated AAA by at least two of the three nationally recognized statistical rating organizations . As of June 30, 2015, OCT A's Commingled Investment Pool had the following variable rate notes: Investment Fair Value Cou~on Multi~lier Cou~on Reset Date American Express $ 1,006,839 LIBOR + 59 basis points Quarterly American Express 1,632,412 LIBOR + 51 basis points Quarterly American Express 537,975 LIBOR + 55 basis points Quarterly Bank of America 300,549 LIBOR + 87 basis points Quarterly Bank of Oklahoma 1,395,915 LIBOR + 69 basis points Quarterly Barclay's 2,999,430 LIBOR + 34 basis points Monthly BNP Paribas 1,292,502 LIBOR + 59 basis points Quarterly Citigroup Inc. 498,625 LIBOR + 54 basis points Quarterly Citigroup Inc. 628,601 LIBOR + 77 basis points Quarterly Citigroup Inc. 2,193,290 LIBOR + 69 basis points Quarterly Daimler Finance 1,079,074 LIBOR + 86 basis points Quarterly Duke Energy 1,821,292 LIBOR + 20 basis points Quarterly Duke Energy 1,876,108 LIBOR + 35 basis points Quarterly E-Bay 985,070 LIBOR + 20 basis points Quarterly E-Bay 492,535 LIBOR + 20 basis points Quarterly Fannie Mae 724,239 LIBOR + 35 basis points Monthly Fannie Mae 1,959,926 Variable Monthly General Electric 2,994,600 LIBOR + 45 basis points Monthly General Electric 1,095,908 LIBOR + 65 basis points Quarterly Goldman Sachs 1,354,137 LIBOR + 120 basis points Quarterly 19 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 Investment Fair Value Cou~on Multi~lier Cou~on Reset Date HSBC USA 823,313 LIBOR + 88 basis points Quarterly HSBC USA 1,354,696 LIBOR + 61 basis points Quarterly IBM 170,476 LIBOR + 37 basis points Quarterly Johnson & Johnson 1,150,080 LIBOR + 7 basis points Quarterly JP Morgan Chase 1,300,442 LIBOR + 45 basis points Quarterly JP Morgan Chase 543,553 LIBOR + 90 basis points Quarterly JP Morgan Chase 847,636 LIBOR + 95.5 basis points Quarterly JP Morgan Chase 1,509,870 LIBOR + 90 basis points Quarterly JP Morgan Chase 430,598 LIBOR + 52 basis points Quarterly Manufacturers & Traders 1,336,918 LIBOR + 37.5 basis points Quarterly Medtronic 1,245,187 LIBOR + 9 basis points Quarterly Merck & Company 1,372,783 LIBOR + 37.5 basis points Quarterly Morgan Stanley 1,318,694 LIBOR + 128 basis points Quarterly Morgan Stanley 1,299,519 LIBOR + 85 basis points Quarterly Morgan Stanley 1,348,301 LIBOR + 114 basis points Quarterly National City Bank 1,343,344 LIBOR + 37 basis points Quarterly PACCAR Financial 230,915 LIBOR + 60 basis points Quarterly Rockwell 1,089,586 LIBOR + 35 basis points Quarterly Toronto-Dominion Bank 1,368,065 LIBOR + 56 basis points Quarterly USB AG Stamford 588,313 LIBOR + 85 basis points Quarterly Wells Fargo Bank 1,097,019 LIBOR + 21 basis points Quarterly Westpac 833,005 LIBOR + 74 basis points Quarterly Total Variable Rate Notes $ 49,471,340 Custodial Credit Risk Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for invesbnents is the risk that, in the event of the failure of the counterparty (e.g., broker- dealer) to a transaction, a government will not be able to recover the value of its invesbnent or collateral securities that are in the possession of another party. OCTA's invesbnent policy requires that a third party bank custody deparbnent hold all securities owned by OCT A. All trades are settled on a delivery versus payment basis through OCT A's safekeeping agent. At June 30, 2015, OCTA did not have any deposits or securities exposed to custodial credit risk and there was no securities lending. 20 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 Credit Risk The Policy sets rmrumum acceptable credit ratings for invesbnents 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 Invesbnent Pool are not rated. The following is a summary of the credit quality distribution and concentration of credit risk by invesbnent type as a percentage of fair value of the 91 Express Lanes Fund's portfolio at June 30, 2015. (NR means Not Rated): % of 91 Express Invesbnents S&P Moody's Fitch Lanes Portfolio OCT A Commingled Invesbnent Pool NR NR NR 79.54% Held by trustee: Money Market Mutual Funds AAAm Aaa AAA 0.00% Certificates of Deposit A-1 P-1 F-1 11.17% Commercial Paper: U.S. Bank A-1 P-1 F-1 9.29% Total 100.00% Concentration of Credit Risk At June 30, 2015, OCT A did not exceed the Policy maximum concentrations as stated below: Issuer/Counter-Party Diversification Guidelines For All Securities Except Federal Agencies, Federal Instrumentalities, Investment Agreements, Repurchase Agreements and OCTA 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 . 21 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 • 50% for any one repurchase agreement counter-party name if the maturity/term is less than or equal to 7 days. • 35% for any one repurchase agreement counter-party name if the maturity/term is greater than 7 days. Issuer/Counter-Party Diversification Guidelines for OCT A's Debt OCTA can purchase all or a portion of the Orange County Transportation Authority's debt, including notes and bonds payable solely out of the revenues from a revenue- producing property owned, controlled or operated by OCT A or by a department, board, agency or authority of OCTA which may bear interest at a fixed or floating rate, providing the purchase does not exceed 25% of the Maximum Portfolio and when authorized by the Internal Revenue Service. The following is a summary of the concentration of credit risk by issuer as a percentage of the fair value of the 91 Express Lanes Fund's portfolio at June 30, 2015: Issuer Bank of the West (Certificates of Deposit) U.S. Bank (Commercial Paper) Investment in State Investment Pool Amount $ 13,000,000 $ 10,810,054 % of 91 Express Lanes Portfolio 11.17% 9.29% OCTA is a voluntary participant in LAIF which is regulated by the California Government Code. The Investment Advisory Board provides oversight for LAIF, consisting of five members as designated by statute, which includes the Treasurer of the State of California. The fair value of OCT A's investment in this pool is reported in the accompanying financial statements based upon OCT A's pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. 22 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 4. Capital Assets Capital asset activity for the 91 Express Lanes Fund for the year ended June 30, 2015 is as follows: Beginning Ending Balance Increases Decreases Balance Capital assets, not being depreciated: Construction in progress $ 9,614 $ 253,862 $ $ 263,476 Total capital assets, not being depreciated 9,614 253,862 263,476 Capital assets, being depreciated: Improvements 3,216,883 (20,958) 3,195,925 Communications equipment 3,021,080 (38,038) 2,983,042 Computer hardware and software 3,338,456 119,338 (442,331) 3,015,463 Transponders 4,307,931 402,377 (356,208) 4,354,100 Equipment, furniture and fixtures 164,272 33,445 (35,792} 161,925 Total capital assets, being depreciated 14,048,622 555,160 (893,327) 13,710,455 Less accumulated depreciation for: Improvements (1,546,533) ( 182,191) 20,958 (1,707,766) Communications equipment (3,021,080) 38,038 (2,983,042) Computer hardware and software (2,903,222) (442,368) 442,331 (2,903,259) Transponders (3,360,475) (395,195) 356,209 (3,399,461) Equipment, furniture and fixtures (132,768) (15,676) 35,791 (112,653) Total accumulated depreciation {10,964,078} {1,035,430} 893,327 {11,106,181} Total capital assets, being depreciated, net 3,084,544 (480,270} 2,604,274 Total capital assets, net $ 3,094,158 $!226,408} $ $2,867,750 5. Service Concession Arrangements -Toll Facility Franchise On January 3, 2003, OCT A 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 23 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 2030, and eliminated non-compete prov1s10ns in the Franchise Agreement for needed improvements on the SR-91. The Franchise Agreement with the State of California's Department of Transportation (Caltrans) had granted CPTC the right to develop and construct the toll facility and to operate it for 35 years under a lease arrangement. Caltrans retains legal title to the real property components of the toll facility. In September 2008, the Governor of California approved Senate Bill (SB) 1316 (Correa) as an update to the provisions of AB 1010. SB 1316 authorized OCTA to assign its franchise rights, interests and obligations in the Riverside County portion to the Riverside County Transportation Commission (RCTC), thereby allowing RCTC to add two toll lanes and a regular lane in each direction on the SR-91 from the Orange County line to Interstate 15. In addition, the bill authorized the terms of the franchise to expire no later than December 31, 2065. SB 1316 also required OCT A and RCTC to enter into an agreement providing for the coordination of their respective tolling facilities if RCTC was to construct and operate the toll facilities on the Riverside County portion of the SR-91 franchise. In December 2011, the Board approved the assignment of OCT A's franchise rights, interests and obligations in the Riverside County portion of the SR-91 franchise to RCTC. The Board also approved the extension of the expiration date to 2065 and a cooperative agreement between OCT A and RCTC that details the joint operation for the 91 Express Lanes extension. Intangible asset activity for the year ended June 30, 2015 was as follows: Toll facility franchise Less accumulated amortization Total toll facility franchise, net 6. Bonds Payable Taxable Senior Secured Bonds Beginning Balance $ 205,263,668 (72,048,993) $ 133,214,675 Increases Decreases $ $ (2,586,693) $ (2,586,693) $ Ending Balance $ 205,263,668 (74,635,686) $ 130,627,982 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. 24 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 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-1 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 had a mandatory tender date of August 15, 2013. On July 30, 2013, OCTA 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 OCIP. The refunding resulted in a difference between the reacquisition price and the net carrying amount of the old debt of $4,366,861. The transaction resulted in a reduction of debt service payments of $26,916;929 over 18 fiscal years and an economic gain (difference between the present values of the debt service payments of the original 2003 and 2013 debt) of $19,271,945. The Series 2013 Bonds were issued as fixed rate bonds. The transaction closed on August 8, 2013. A summary of the terms of the Toll Road Revenue Refunding Bonds is as follows: Issuance date Closing date Original issue amount Cash reserve requirements Cash reserve balance Interest rate Maturity Principal payment date Balance as of 06/30/15 Unamortized premium Deferred amount on refunding 25 07/30/2013 08/08/2013 $124,415,000 $23,798,525* $23,830,661 2%-5% December 2030 August15 $119,490,000 $9,954,194 ($10 ,350 ,308) 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 *Pursuant to the 2013 Toll Road Revenue Refunding Bonds Master Indenture of Trust, three reserve funds are maintained with required balances as follows: Senior Lien Reserve Fund $10,798,525; Major Maintenance Reserve Fund $10,000,000; and Operating Reserve Fund $3,000,000. At June 30, 2015, all reserve requirements have been satisfied. Annual debt service requirements on the tax-exempt bonds as of June 30, 2015, are as follows: Year ending June 30 2016 2017 2018 2019 2020 2021-2025 2026-2030 2031 Total Changes in Long-Term Liabilities Principal $ 5,075,000 5,285,000 5,525,000 5,810,000 6,110,000 35,570,000 45,645,000 10,470,000 $119,490,000 Interest $5,720,725 5,513,525 5,269,700 4,986,325 4,688,325 18,409,625 8,338,500 327,187 $59,253,912 Total $ 10,795,725 10,798,525 10,794,700 10,796,325 10,798,325 53,979,625 53,983,500 10,797,187 $172,743,912 Long-term liabilities activity for the year ended June 30, 2015, was as follows: Beginning Ending Due within Balance Additions Reductions Balance One Year Tax-exempt bonds $124,415,000 $ $4,925,000 $119,490,000 $5,075,000 Unamortized premium 10,598,131 643,937 9,954,194 Total long-term liabilities $135,013,131 $ $5,568,937 $129,444,194 $5,075,000 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 2013 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 on Senior Lien Bonds and Parity Obligations and at least equal to 1.0 times annual debt service on all bonds. Adjusted net toll revenues includes tolls and investment earnings on specified reserve accounts minus operating expenses, excluding depreciation and interest expense. 26 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 Pledged revenue for the year ended June 30, 2015, was as follows: Description of Annual Amount of Annual Debt Pledged Revenue Reqllired Debt Pledged Revenue Net Pledged Revenue Service Payments Coverage Coverage 91 Express Lanes Net Toll Road $30,825,243 $10,796,475 2.86 1.30 Revenue 7. Commitments and Contingencies Operator Agreement ln 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 with two one-year extension options, subject to Board of Directors approval. The agreement was in effect from January 3, 2003 through January 2, 2006. On January 6, 2006, OCTA entered into a second operating agreement with Cofiroute, effective January 3, 2006 through January 2, 2011. The annual amount of the base contract is $5,448,768 plus inflation adjustments after the first year. The agreement carried two two-year extension options through January 2, 2015. On June 27, 2011, the OCTA Board of Directors approved a subsequent amendment to the operating agreement with Cofiroute, which authorized the addition of two five-year extension options beginning July l, 2011 through June 30, 2016 for the first extension term and beginning July 1, 2016 through June 30, 2021 as the second extension term. Cofiroute is responsible for the day-to-day operations of the toll facility. On May 24, 2013 OCTA completed a three-party agreement with Riverside County Transportation Commission (RCTC) and Cofiroute for operations of the 91 Express Lanes. This will help ensure streamlined consistent inter-county travel for motorists on the original ten-mile span of the 91 Express Lanes and the new eight miles that will extend into Riverside County. Purchase Commitments The 91 Express Lanes has various outstanding contracts. Total purchase commitments at June 30, 2015 were $49,377,805, the most significant is with Cofiroute as previously noted. Lease Commitments The 91 Express Lanes Fund is committed under two non-cancelable leases for office space. These leases are considered for accounting purposes to be operating leases. Lease expenses for the year ended June 30, 2015 were$ 299,611 . 27 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 Future minimum payments for these leases approximate the following: For the year ending June 30: 2016 2017 2018 2019 2020 2021-2031 Total $ 347,117 387,663 399,466 347,433 336,496 4,049,164 $ 5,867,339 On April 13, 2015 the OCTA Board of Directors approved a 15-year lease extension for the 91 Express Lanes Anaheim office. A portion of the lease will be funded by RCTC per agreement between OCTA and RCTC entered into in December 2011. The lease extension was executed on July 22, 2015. 8. Effect of New Pronouncements: GASB Statement No. 72 In February 2015, GASB issued Statement No. 72, Fair Value Measurement and Application. This Statement addresses accounting and financial reporting issues related to fair value measurements. The definition of fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This Statement provides guidance for determining a fair value measurement for financial reporting purposes. This Statement also provides guidance for applying fair value to certain investments and disclosures related to all fair value measurements. This statement is effective for OCT A's fiscal year ending June 30, 2016. GASB Statement No. 73 In June 2015, GASB issued Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets That Are Not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68. The objective of this Statement is to improve the usefulness of information about pensions included in the general purpose external financial reports of state and local governments for making decisions and assessing accountability. This Statement establishes requirements for defined benefit pensions that are not within the scope of Statement No. 68, Accounting and Financial Reporting for Pensions, as well as for the assets accumulated for purposes of providing those pensions. In addition, it establishes requirements for defined contribution pensions that are not within the scope of Statement 68. It also amends certain provisions of Statement No. 67, Financial Reporting for Pension Plans, and Statement 68 for pension plans and pensions that are within 28 • • • • • • 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 their respective scopes. The provisions in Statement 73 are effective for OCT A's fiscal year ending June 30, 2016-t::xcept those pro~sions that address employers and governmental non-employer contributing entities for pensions that are not within the scope of Statement 68, which are effective for fiscal year ending June 30, 2017. GASB Statement No. 74 In June 2015, GASB issued Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans. The objective of this Statement is to improve the usefulness of information about postemployment benefits other than pensions (other postemployment benefits or OPEB) included in the general purpose external financial reports of state and local governmental OPEB plans for making decisions and assessing accountability. This Statement replaces Statements No. 43, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, as amended, and No. 57, OPEB Measurements by Agent Employers and Agent Multiple-Employer Plans. It also includes requirements for defined contribution OPEB plans that replace the requirements for those OPEB plans in Statement No. 25, Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans, as amended, Statement 43, and Statement No. 50, Pension Disclosures. This statement is effective for OCT A's fiscal year ending June 30, 2017 . GASB Statement No. 75 In June 2015, GASB issued Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. The primary objective of this Statement is to improve accounting and financial reporting by state and local governments for postemployment benefits other than pensions (other postemployment benefits or OPEB). It also improves information provided by state and local governmental employers about financial support for OPEB that is provided by other entities. This Statement replaces the requirements of Statements No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, as amended, and No. 57, OPEB Measurements by Agent Employers and Agent Multiple-Employer Plans, for OPEB. Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, establishes new accounting and financial reporting requirements for OPEB plans. This statement is effective for OCT A's fiscal year ending June 30, 2018. GASB Statement No. 76 In June 2015, GASB issued Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. The objective of this Statement is to identify-in the context of the current governmental financial reporting environment-the hierarchy of generally accepted accounting principles (GAAP). The "GAAP hierarchy" consists of the sources of accounting principles used to prepare financial statements of state and local governmental entities in conformity with GAAP and the framework for selecting 29 91 Express Lanes Fund Notes to the Financial Statements For the Fiscal Year Ended June 30, 2015 those principles. This Statement reduces the GAAP hierarchy to two categories of authoritative GAAP and addresses the use of authoritative and nonauthoritative literature in the event that the accounting treatment for a transaction or other event is not specified within a source of authoritative GAAP. This Statement supersedes Statement No. 55, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. This statement is effective for OCT A's fiscal year ending June 30, 2016. GASB Statement No. 77 In August 2015, GASB issued Statement No. 77, Tax Abatement Disclosures. The objective of this Statement is to provide financial statement users with essential information about the nature and magnitude of the reduction in tax revenues through tax abatement programs in order to better assess (a) whether current-year revenues were sufficient to pay for current- year services, (b) compliance with finance-related legal or contractual requirements, (c) where a government's financial resources come from and how it uses them, and (d) financial position and economic condition and how they have changed over time. This statement is effective for OCT A's fiscal year ending June 30, 2016. 30 • • • • 5 . • ,. • m OCTA ORANGE COUNTY TRANSPORTATION AUTHORITY 91 Express Lanes -20-Year Anniversary PowerPoint • • • • fhe past 20 years, the 91 Ex s has helped people arrive ori' life's most precious moments. :,brate, we're reaching out to neV\l !;::, ting customers with special offi E 16L6-009-008 woo-sauelssa. dxaL6 L616-009-008 w03•sauelss8adx0l6 fl l'GJ I 1 NO 00 6 ON I : ] ] °. CIyVOO S 3NV1 SS ]HdX3 [ 6 l6-009-008 wo3•geuepseidXOL6 yea 440 003 a Le of a aue40 a col 31.1n000e lie lied° A i V J1 J 11 I l i`V V I ].h NC 3i NOIIVNI1S3o pica 4111 OOIS e U to of a:0e1p e 10J 1UItrJJ1' ue u0d0 W ] V A 123 21V .^, 3 N S 7 N V] S s 3 i0 d X] [6 J J N V l L616-009-008 -- iuoa•the piu�git5 Wise 0 ..lit C J J J U U n J L..0 3lfloa •LIMITIVonn 'mania/ Inn swig i• ".444411PIIIIIIMMUlak0 Wag aiming swing= •141.11./.101.1•93,0 .1.10 ...Mk ha .51 win .1411.1.1...• 1.• Minom• vorm••••••••01M010•10 a• pm. 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CELEBRATING 20 YEARS OF ON-TIME ARRIVALS ·re gilling~ two: $50 91 bijriSS Lilrii$ Gift CeltJficales each week between Oct 19and Dae. 31. Tobe9*nd in the drawing. jullftnyoursloryabouthowhelollroadmade!IOm&~ lifemcmantpouible. -New Custorners Win a $100 Gift Certificate o· . '--n4 •-- --Relyonthe91 Blpfeul.Sl85for aaafe, raliablejotmayandon-tJme arrivalto~n'IDr9 ~destinations Formoreinforrnabcn er to epeak.toa CUlkrrl8r service~. please contact amtcrner service at (800) 600-9191, Monday ttvoug1fnday.8 a.m to 5 p.m. Current Customers Win a $50 Gift Certificate We're giving awfrf two S50 91 Express Lanes Gift Certificates each week between Oct 19 and Dec. 31. To be entered in the drawing, just share your story about how the toll road made some ir11>0rtant life moment possible_ ~~story New Customers Win a $100 Gift Certificate Sign up for a 91 Express Lanes acco&11t between Oct 19 and Dec. 31 for a chance to win a $100 restaurant gift certificate. Use your AAA card and get two weeks free. ABOUT hnps /lwww 91expresslanes com/ -'wr·1filk ~ 1~ in..._,._ PHOTOS > > If;~:::~=~~'" "' Thanks for sharing your story as part of our 20th Anniversary, Linda! 'I assumed since I didn't drive the 91 freeway on a daily basis that there was no need to open an account But I couldn't have been more wrong• I knew immediately on Thanksgiving 1995, after spending more than 4 hours in traffic with two small children trying to get from Corona to Yorba Linda, that I definitely needed to be a part of the 91 Express Lanes. It was the worst drive I have ever experienced and I decoded that I would never let that happen again. I have been a long-time account holder since November 27, 1996 and have conbnued to use the 91 Express Lanes whenever I drive out to Corona/ Temecula for holidays & family gatherings.• ,;, Uke 1111 Comment ,.+ Share Stella Lin Vicloe Horan and Janelle Espiooza Ike th•• 2014 200J 1995 ::_ ,-:, 359 stories: " ... Getting on the gf'f saved us valuable tirne~: the doctors said if I had, minutes later I would ha\l D.O.A. I love paying my Ex Lanes bill every month. ltgi meetings, to family visits, a .. wherever I need to go. Butf for sure that the speed pas my life." worked in Orange County and was always missing our sons base: $On why we got the express lanes. The first month that we haq: ;~~ ' ,-e thought he was going to miss yet another game but bee. ~ de it just in time to watch our son hit his first horn •• _ ... ' . 6. • m OCTA ORANGE COUNTY TRANSPORTATION AUTHORITY 241/91 Express Lanes Connector Project Update PowerPoint • • • • • 241/91 EXPRESS LANES CONNECTOR PROJECT UPDATE POWERPOINT PRESENTATION TO BE SENT UNDER SEPARATE COVER PRIOR TO THE DECEMBER 4, 2015 STATE ROUTE 91 ADVISORY COMMITTEE MEETING