HomeMy Public PortalAbout03 March 02, 2012 SR-91 Advisory AGENDA
State Route 91 Advisory Committee Meeting
Page 1 of 3
Committee Members
Karen Spiegel, RCTC, Committee Chair
Bill Campbell, OCTA, Committee Vice Chair
Jerry Amante, OCTA
Bob Buster, RCTC
Carolyn V. Cavecche, OCTA
Lorri Galloway, OCTA
Berwin Hanna, RCTC
Bob Magee, RCTC
Shawn Nelson, OCTA
John Tavaglione, RCTC
Ed Graham, SANBAG, Ex-Officio
Cindy Quon, Caltrans Dist. 12, Ex-Officio
Ray W. Wolfe, Caltrans Dist. 8, Ex-Officio
Ron Roberts, RCTC, Alternate
City of Corona - City Hall
400 South Vicentia Avenue
City Council Chambers - First Floor
Corona, California
Friday, March 2, 2012, 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.
Call to Order
Pledge of Allegiance
Committee Chair Spiegel
1. Public Comments
Special Calendar
2. Election of New State Route 91 Advisory Committee Chair
3. Election of New State Route 91 Advisory Committee Vice Chair
AGENDA
State Route 91 Advisory Committee Meeting
Page 2 of 3
Consent Calendar (Items 4 through 8)
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.
4. Approval of Minutes - August 5, 2011
Of the August 5, 2011, State Route 91 Advisory Committee meeting.
5. Approval of Minutes – December 16, 2011
Of the December 16, 2011, State Route 91 Advisory Committee meeting.
6. Proposed State Route 91 Advisory Committee Meeting Calendar for the
Year 2012
Laurena Weinert, Assistant Clerk of the Board
Orange County Transportation Authority
Overview
Presented is the proposed State Route 91 Advisory Committee meeting calendar
for 2012, depicting the committee meeting dates for the year.
Recommendation
Adopt the 2012 State Route 91 Advisory Committee meeting calendar.
7. 91 Express Lanes Monthly Status Reports
Kirk Avila, General Manager of 91 Express Lanes
Orange County Transportation Authority
Overview
The 91 Express Lanes status reports for the months of July 2011 through
January 2012 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 Repo rts for the months of
July 2011 through January 2012.
AGENDA
State Route 91 Advisory Committee Meeting
Page 3 of 3
8. Fiscal Year 2010-11 91 Express Lanes Annual Financial Statements
Kirk Avila, General Manager of 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 2010-11 and has issued its independent auditor’s opinion. A copy of
the audited financial statements is attached for the State Route 91 Advisory
Committee review.
Recommendation
Receive and file the fiscal year 2010 -11 91 Express Lanes Annual Financial
Statement.
Regular Calendar
There are no Regular Calendar matters.
Discussion Items
9. State Route 91 Corridor Improvement Project Update
Michael Blomquist, Toll Program Director
Riverside County Transportation Commission
Project Update of the State Route 91 Corridor Improvement Project to widen the
SR-91 freeway through Corona and to extend the existing 91 Express Lanes.
10. 91 Express Lanes Toll Gantry Update
Myung Park, IS Project Manager
Orange County Transportation Authority
Staff will update Committee members on the status of the cantilever structure
and electronic toll and traffic management systems on the 91 Express Lanes.
11. General Manager's Report
12. Committee Members' Reports
13. Adjournment
The next regularly scheduled meeting of this Committee will be determined
based upon action taken under Item 6.
MINUTES
State Route 91 Advisory Committee Meeting
December 16, 2011 Page 1 of 4
Committee Members Present
Bill Campbell, OCTA, Committee Vice Chair
Bob Buster, RCTC
Carolyn V. Cavecche, OCTA
Berwin Hanna, RCTC
Bob Magee, RCTC
Ed Graham, SANBAG, Ex-Officio
Cindy Quon, Caltrans Dist. 12, Ex-Officio
Staff Present
Will Kempton, Chief Executive Officer
Anne Mayer, RCTC, Executive Director
Kirk Avila, General Manager, 91 Express Lanes
Laurena Weinert, Assistant Clerk of the Board
Mary K. Burton, Deputy Clerk of the Board
Kennard R. Smart, Jr., General Counsel
Steve DeBaun, RCTC, Legal Counsel
OCTA and RCTC staff and General Public
Committee Members Absent
Karen Spiegel, RCTC, Committee Chair
Jerry Amante, OCTA
Lorri Galloway, OCTA
Shawn Nelson, OCTA
John Tavaglione, RCTC
Ron Roberts, RCTC, Alternate
Ray W. Wolfe, Caltrans Dist. 8, Ex-Officio
Call to Order
The December 16, 2011, regular meeting of the State Route 91 Advisory Committee
was called to order by Committee Vice Chair Campbell at 9:10 a.m.
Pledge of Allegiance
Committee Vice Chair Campbell led in the Pledge of Allegiance.
1. Public Comments
No public comments were received.
Special Calendar
There were no Special Calendar matters.
Consent Calendar (Items 2 through 4)
2. Approval of Minutes
Due to lack of quorum, no action was taken on this item.
3. 91 Express Lanes Monthly Status Reports
Due to lack of quorum, no action was taken on this item.
MINUTES
State Route 91 Advisory Committee Meeting
December 16, 2011 Page 2 of 4
4. Fiscal Year 2010-11 91 Express Lanes Annual Financial Statements
Due to lack of quorum, no action was taken on this item.
Regular Calendar
5. 91 Express Lanes 2011 Customer Satisfaction Survey Results
Stella Lin, OCTA, Manager of Marketing, provided opening comments and
introduced the consultant for this survey, Dr. Timothy McLarney, Ph.D., President,
True North Research, Inc.
Dr. McLarney presented the results of this customer satisfaction survey and
highlighted:
Purpose and methodology
Overall customer satisfaction and trends by years and usage
Express lanes’ trip purposes, origins, and destinations
Performance standards
Setting toll to promote free-flow
Preferences for receiving information
Recommendations and opportunities
Committee Vice Chair Campbell inquired about the decline of support for the
SR-241 direct connector and if it could it be related to the SR-91 lane addition at
the SR-241.
Kirk Avila, General Manager of the 91 Express Lanes, responded that the lane
addition added new capacity, and the Transportation Corridor Agency (TCA)
customers need to be asked if they support the SR-241 direct connector.
Member Buster inquired as to when the survey was conducted because there have
been recent toll reductions. Dr. McLarney responded that the survey was
conducted in September 2011. Mr. Avila commented that on October 1, 2011,
there were eight different time slots with toll reductions.
Member Buster suggested review of how to maintain the frequent users. He also
commented that this survey is helpful for Riverside County on how to go forward
with their toll road extension planning.
MINUTES
State Route 91 Advisory Committee Meeting
December 16, 2011 Page 3 of 4
5. (Continued)
Committee Vice Chair Campbell suggested a discussion with Cofiroute about
contacting frequent user customers and explain how they can save on costs when
using the express lanes.
No action was taken on this receive and file item.
Discussion Items
6. State Route 91 Corridor Projects - State Route 55 to State Route 241
Construction Update
Pradeep Gunaratne, OCTA Program Manager, presented an update on
SR- 91 corridor projects between SR-55 to SR-241 and highlighted:
Six projects status
Construction phase, status, and timelines
91 Express Lanes gantry
Near-term summary
Member Buster requested the construction costs of the six projects.
Mr. Gunaratne commented that he did not have the information with him;
however, he will forward the information to Member Buster and the Committee.
7. Update on the 91 Express Lanes Extension Agreements
Committee Vice Chair Campbell asked Will Kempton, OCTA, Chief Executive
Officer, and Anne Mayer, RCTC, Executive Director, to comment on the
relationship of the two agencies to have an agreement conclusion for the
91 Express Lanes extension.
Mr. Kempton commented that there is a positive relationship between OCTA and
RCTC staff and Board. Both agencies have been supportive of securing
funding, obtaining design-build authorization, and moving forward in a
collaborative fashion for this project.
Ms. Mayer commented that the formation of this Committee, as well as the
commitment of the elected officials on this Committee, has lead to a positive
relationship. Staff from both agencies have spent many years building the
relationships for coming to conclusion on important agreements.
MINUTES
State Route 91 Advisory Committee Meeting
December 16, 2011 Page 4 of 4
7. (Continued)
Ms. Mayer announced that on December 15th, Secretary of Transportation,
Ray LaHood, announced that the 91 corridor improvement project received a
$20 million Transportation Investment Generating Economic Recovery (TIGER)
III grant, which was a highly competitive process, and OCTA supported RCTC’s
TIGER III nomination for this project.
Committee Vice Chair Campbell commented that infrequent users of the express
lanes have transponders from the TCA, which is data not reflected in the
customer survey.
8. General Managers’ Report
Kirk Avila, General Manager of the 91 Express Lanes, reported that on
December 12, 2011, the Board took action on the following:
The cooperative agreement between OCTA and RCTC regarding the 91
Express Lanes extension.
Amendment to the Franchise/Lease Agreement, which eliminated OCTA’s
rights/interest for the Riverside County portion of the 91 Express Lanes,
and the term of the lease agreement, was extended from 2030 to 2065.
9. Committee Members’ Reports
There were no Committee Members' reports.
10. Adjournment
The meeting adjourned at 9:52 a.m. The next regularly scheduled meeting of
this Committee is yet to be determined and will be held in Corona, California.
ATTEST
Laurena Weinert
OCTA Assistant Clerk of the Board
Bill Campbell
Committee Vice Chair
ORANGE COUNTY TRANSPORTATION AUTHORITY
Approval of Minutes - August 5, 2011
Minutes
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 1 of 8
Committee Members Present
Karen Spiegel, RCTC, Committee Chair
Bill Campbell, OCTA, Committee Vice Chair
Bob Buster, RCTC
Carolyn V. Cavecche, OCTA
Lorri Galloway, OCTA
Berwin Hanna, RCTC
Bob Magee, RCTC
Cindy Quon, Caltrans Dist. 12, Ex-Officio
John Tavaglione, RCTC
Ray W. Wolfe, Caltrans Dist. 8, Ex-Officio
Staff Present
Anne Mayer, RCTC, Executive Director
Will Kempton, OCTA, Chief Executive Officer
Kirk Avila, OCTA, General Manager, 91 Express Lanes
Laurena Weinert, OCTA, Assistant Clerk of the Board
Mary K. Burton, OCTA, Deputy Clerk of the Board
Steve DeBaun, RCTC, Legal Counsel
Kennard R. Smart, Jr., OCTA, General Counsel
OCTA and RCTC staff and General Public
Committee Members Absent
Jerry Amante, OCTA
Ed Graham, SANBAG, Ex-Officio
Shawn Nelson, OCTA
Ron Roberts, RCTC, Alternate
Call to Order
The August 5, 2011, regular meeting of the State Route 91 Advisory Committee was
called to order by Committee Chair Spiegel at 9:00 a.m. at the City of Corona –
City Hall, Council Chambers – First Floor, 400 South Vicentia Avenue, Corona,
California.
Pledge of Allegiance
Member Magee led in the Pledge of Allegiance.
1. Public Comments
No public comments were received.
Special Calendar
There were no Special Calendar matters.
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 2 of 8
Consent Calendar (Items 2 through 4)
2. Approval of Minutes
A motion was made by Member Hanna, seconded by Member Cavecche, and
declared passed by those present, to approve minutes of the June 3, 2011,
meeting.
3. 91 Express Lanes Monthly Status Reports
A motion was made by Member Hanna, seconded by Member Cavecche, and
declared passed by those present, to receive and file the 91 Express Lanes
Monthly Status Reports for the months of May 2011 and June 2011.
4. Amendment to Agreement with Cofiroute USA
Committee Vice Chair Campbell pulled this item and commented that Cofiroute
did deliver the new back-office software system, yet, there are still issues. He
asked staff to provide the Committee with an update.
Ken Phipps, Executive Director of Finance and Administration, Orange County
Transportation Authority (OCTA), responded that the focus has been on the
inoperability agreement and working with the Transportation Corridor Agency
(TCA) to ensure that all transactions are captured, coded, and charges are
appropriate.
Staff met with Committee Vice Chair Campbell; and at his request, conducted
daily conference call meetings between Cofiroute, OCTA, and TCA to address
the software issues. Fifteen issues have been documented and resolved, and
there is continued verification that the fixes did not cause other problems. In
addition, there is a different concern being addressed regarding the customer
interface on the internet.
Committee Vice Chair Campbell commented that when there were comparisons
of the new versus old software, it was discovered that the prior software had
small errors, which has since been corrected in the new software.
A motion was made by Committee Vice Chair Campbell, seconded by
Member Galloway, and declared passed by those present, to receive and file.
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 3 of 8
Regular Calendar
5. Revised Project Allocation Recommendation for Federal Grant Funds
Available for Use in the State Route 91 Corridor
Kia Mortazavi, Executive Director of Planning, OCTA, reported that $2.45 million
remain from the $15.8 million federal grant funds allocated to study a possible
new corridor between Orange and Riverside counties.
In order to obligate the funds quickly, staff recommend ed the $2.45 million
federal grant funds be directed to the State Route (SR) 91/71 Connector Project
instead of the SR-241/91 Express Lanes Connector Project.
Riverside County Transportation Commission (RCTC) would agree to program
$2.45 million in federal formula funds for the SR-241/91 Express Lanes
Connector Project.
A motion was made by Committee Vice Chair Campbell, seconded by
Member Cavecche, and declared passed by those present, to:
A. Approve programming an additional $2.45 million in Safe, Accountable,
Flexible, Efficient Transportation Equity Act: A Legacy for Users federal
funds on the State Route 91/State Route 71 Connector Project.
B. Approve programming $2.45 million in Riverside County Transportation
Commission federal formula funds for the State Route 241/91 Express
Lanes Connector Project.
Discussion Items
6. The Toll Roads Marketing Update
Sheldon Pines, Public Affairs Specialist, TCA, introduced Tom Margro,
Chief Executive Officer, and Lisa Telles, Chief Communications Officer, of TCA.
Mr. Pines presented TCA’s marketing plan philosophy, geo-targeted online
marketing, health club signage, radio ad lets, promotions to increase FasTrak
signups, programs to reward usage, and showed a few TCA television
commercials.
Committee Vice Chair Campbell inquired about TCA’s annual marketing budget
and how much of it is spent in Riverside County. Mr. Pines responded that the
budget is about $1.2 million, along with some radio ad lets and online marketing
that is spent in Riverside County.
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 4 of 8
6. (Continued)
Committee Vice Chair Campbell commented that the 91 Express Lanes toll
revenues are down and feels that it is appropriate to review marketing in
Riverside County.
Member Cavecche inquired if TCA advertises on Facebook or other social
media. Mr. Pines responded that there is a presence and TCA has not
purchased advertising on Facebook; however, for the next marketing plan, there
will be review of using Facebook for TCA advertisements.
Committee Chair Spiegel concurred with Committee Vice Chair Campbell’s
comment about reviewing marketing for the toll road in Riverside County.
7. Riverside County Transportation Commission and Orange County
Transportation Authority Cooperative Agreement Update
Michael Blomquist, Toll Program Director, RCTC, presented an update on the
RCTC/OCTA cooperative agreement for the 91 Express Lanes extension.
There was additional discussion and comments regarding the cooperative
agreement as follows:
Member Buster inquired if there is a minimal standard for the level of
maintenance on the express lanes. Mr. Blomquist responded that there will
be a long-term pavement maintenance rehab schedule which also adheres to
Caltrans’ maintenance requirements. In addition, each county is responsible
for their own maintenance.
Member Buster commented that the express lanes pavement needs to have
a common level of maintenance and cleanliness in both Orange and
Riverside counties.
Member Buster inquired about the agreement’s dispute resolution. There was
a response as follows:
o Steven DeBaun, General Counsel, RCTC, commented that the
agreement has progressive levels for dispute resolution between
OCTA/RCTC, and the concept is to avoid legal action.
o Anne Mayer, Executive Director, RCTC, commented that the
agreement has a specific process to resolve disputes at the lowest
level possible.
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 5 of 8
7. (Continued)
Member Buster commented that since both agencies would be involved in
the extension of the express lanes, staff should consider a potential new
logo/signage for the express lanes.
Committee Vice Chair Campbell requested that the cooperative agreement
update be presented to OCTA’s Finance and Administration Committee and
full Board.
Committee Vice Chair Campbell commented:
o Need to ensure that the bond requirements are met for OCTA and part
of the ability to transfer to franchise.
o What happens if the debt is reissued and yet there is co ntemplation of
refunding the debt in 2013.
o A toll policy conflict could result if one agency charges by day of week
and the other agency charges by time of day.
o Have the traffic and revenue consultant determine the toll structure
that maximizes revenues for both the individual express lane
segments and for the entire system.
o Need additional information regarding the transition lane at the County
line area. If there were further widening of the SR -91, what are the
additional costs for returning back to the standard lanes width instead
of the 11-foot lanes.
o What is contemplated for the environmental mitigation in Orange
County.
o Is there a way to calculate the night closures fee and bring forward the
data prior to the final agreement.
o What is the impact on the SR-241/91 connector.
o How do you optimize the throughput by working the tolls together and
yet maintain the independence.
o Concerned about termination in ten years and the outstanding OCTA
debt that matures in 2030. The agreement needs to be tied to the term
of the debt in order to protect the bond holders. The agreement and
debt obligation need to be consistent.
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 6 of 8
7. (Continued)
Mr. Blomquist, RCTC, commented:
o There will be language to address the toll policy and both agencies
would operate on a variable congestion pricing hourly toll.
o The transition lane at the county line will be in each direction and
about 8,000 feet long.
o The environmental mitigation approach is to mitigate for the “ultimate
project” up front, which includes the additional general purpose lane
between SR-71 and SR-241, and could provide cost savings versus
revisiting the mitigation.
o The environmental mitigation impacts in Orange County are not
extensive and where explained.
Kirk Avila, General Manager of the 91 Express Lanes, OCTA, reported:
o Stantec will provide an update on the traffic and revenue study, which
would address the toll road extension impacts on OCTA’s 91 Express
Lanes.
o There are designated closure hours, which have been calculated as to
how much OCTA would receive in compensation for the closures.
Member Buster commented that there needs to be a review of RCTC’s
finance requirements as they engage in their construction improvement
projects and toll road. Need to ensure that the bond requirements are met
and congruent between RCTC and OCTA.
Will Kempton, Chief Executive Officer, OCTA, commented:
o The agreement and this Committee’s concerns would be presented to
OCTA’s Finance and Administration Committee and full Board.
o OCTA and RCTC still need to come to agreement on a couple of items
prior to bringing the agreement forward to OCTA’s Board for fin al
approval. RCTC’s Board has already agreed to the agreement in
concept.
Member Cavecche commented:
o The toll policies between the two agencies should be the same and
addressed in the agreement.
o There should not be a competition between the two agencies and the
policy should be setup by a formula basis.
o Requested the transition area design at the county line.
o Concern about the mechanism for getting to the toll formula.
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 7 of 8
7. (Continued)
Committee Vice Chair Campbell expressed concerned about the toll policy
congestion management language in the agreement and how future
technology could be different from how it is used today.
Member Magee commented:
o Concurred with Committee Vice Chair Campbell that the agreement
needs to be tied to the term of the debt in order to protect the bond
holders and to also maintain consistency.
o The agreement and debt obligation need to be consistent.
Member Buster commented:
o Each agency has to be responsible for their own toll rates.
o If express lane users could get on/off between the counties, there
could be two separate segments with different levels of congestion
usage.
o Even with the same toll formula for congestion management, there
could be different toll rates per mile at the same time of the day.
o In order to extend the major vendors, there would have to be
negotiations.
8. General Manager’s Report
Kirk Avila, General Manager of the 91 Express Lanes, reported:
OCTA will conduct a 91 Express Lanes customer satisfaction survey next
month. The draft questionnaire will be presented to OCTA’s Legislative and
Communications Committee on August 18 and will be emailed to this
Committee. The survey results will be presented at this Committee’s
December 16th meeting.
SR-91 widening project from the SR-241 to SR-55 work will begin late
August, and the 91 Express Lanes electronic toll, traffic, and management
system will be relocated.
OCTA, in conjunction with their consultant, is assessing the 91 Express
Lanes pavement conditions, and the final report will be issued in a few
months.
MINUTES
State Route 91 Advisory Committee Meeting
August 5, 2011 Page 8 of 8
9. Committee Members’ Reports
There were no Committee Members' reports.
10. Adjournment
The meeting adjourned at 10:25 a.m.
The next regularly scheduled meeting of this Committee will be held at
9:00 a.m. on Friday, December 16, 2011, at the OCTA Headquarters,
Board Room - First Floor, 600 South Main Street, Orange, California.
ATTEST
Laurena Weinert
OCTA Assistant Clerk of the Board
Karen Spiegel
Committee Chair
ORANGE COUNTY TRANSPORTATION AUTHORITY
Proposed State Route 91 Advisory Committee Meeting
Calendar for the Year 2012
Staff Report
March 2, 2012
To: State Route 91 Advisory Committee
From: Will Kempton, Chief Executive Officer
Orange County Transportation Authority
Anne Mayer, Executive Director
Riverside County Transportation Commission
Subject: Proposed State Route 91 Advisory Committee Meeting Calendar
for the Year 2012
Overview
Presented is the proposed State Route 91 Advisory Com mittee meeting
calendar for 2012, depicting the committee meeting dates for the year.
Recommendation
Adopt the 2012 State Route 91 Advisory Committee meeting calendar.
Discussion
The 2012 State Route 91 Advisory Committee calendar has been prepared by
the Orange County Transportation Authority Assistant Clerk of the Board with
input from the Committee Chair and is presented for approval and adoption.
The proposed calendar takes into consideration various agencies’ calendars,
events, and conferences. A listing of those dates is provided as Attachment A.
The proposed 2012 calendar schedule is provided as Attachment B.
Summary
Approval is requested for the State Route 91 Advisory Committee meeting
calendar, which sets dates for the year of 2012.
Proposed State Route 91 Advisory Committee Meeting Calendar
for the Year 2012
Page 2
Attachments
A. Related 2012 Event and Conference Schedules
B. 2012 Meeting Calendar for the State Route 91 Advisory Committee
Prepared by: Approved by:
Laurena Weinert Wendy Knowles
OCTA, Assistant Clerk of the Board OCTA, Clerk of the Board
(714) 560-5443 (714) 560-5676
ORANGE COUNTY TRANSPORTATION AUTHORITY
Proposed State Route 91 Advisory Committee Meeting
Calendar for the Year 2012
Attachment A
ATTACHMENT A
RELATED 2012 EVENT AND CONFERENCE SCHEDULES
The following dates were considered in preparation of the proposed
2012 State Route 91 Advisory Committee meeting calendar:
League of California Cities’ Annual Conference and Expo
(September 5 - 7, 2012)
League of California Cities’ Legislative Action Days
(April 25 – 27, 2012)
National League of Cities Congressional City Conference
(March 10 - 16, 2012)
Orange County Board of Supervisors’ Board Meeting Schedule
Orange County Government Leaders’ Prayer Breakfast
(May 11, 2012)
Orange County Transportation Authority Board Meeting Schedule
(2nd and 4th Monday each month)
Riverside County Transportation Commission Meeting Schedule
(2nd Wednesday each month)
South Coast Air Quality Management District
Governing Board Meeting Schedule (1st Friday each month)
Mobile Source Committee (3rd Friday each month)
Southern California Association of Governments – Regional Council
(1st Thursday each month)
Southern California Regional Rail Authority (Metrolink)
Board Meeting Schedule (2nd Friday each month)
Committee Meeting Schedule (2nd or 4th Friday each month)
ORANGE COUNTY TRANSPORTATION AUTHORITY
Proposed State Route 91 Advisory Committee Meeting
Calendar for the Year 2012
Attachment B
ATTACHMENT B
2012 MEETING CALENDAR
STATE ROUTE 91 ADVISORY COMMITTEE
DATE
TIME
LOCATION
March 2, 2012
(1st Friday)
9:00 a.m.
City of Corona – City Hall
City Council Chambers - First Floor
400 South Vicentia Avenue
Corona, California
June 1, 2012
(1st Friday)
9:00 a.m.
Orange County Transportation Authority - Headquarters
Board Room – First Floor
600 South Main Street
Orange, California
August 3, 2012
(1st Friday)
9:00 a.m.
City of Corona – City Hall
City Council Chambers - First Floor
400 South Vicentia Avenue
Corona, California
December 7, 2012
(1st Friday)
9:00 a.m.
Orange County Transportation Authority - Headquarters
Board Room – First Floor
600 South Main Street
Orange, California
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Staff Report
Orange County Transportation Authority
550 South Main Street / P.O. Box 14184 / Orange / California 92863-1584 / (714) 560-OCTA (6282)
March 2, 2012
To: State Route 91 Advisory Committee
From: Kirk Avila, General Manager, 91 Express Lanes
Subject: 91 Express Lanes Monthly Status Reports
Overview
The 91 Express Lanes status reports for the months of July 2011 through
January 2012 have been prepared for State Route 91 Advisory Committee
review. The reports highlight operational and financial activities.
Recommendation
Receive and file the 91 Express Lanes Monthly Status Reports for the months
of July 2011 through January 2012.
Background
Monthly status reports are prepared to document 91 Express Lanes activity and
are provided for State Route 91 Advisory Committee review.
Discussion
The July 2011 status report for the 91 Express Lanes is provided in
Attachment A. In July 2011, traffic volume in the 91 Express Lanes decreased
9.1 percent over the same period in 2010 and gross potential toll revenue
decreased by 13.7 percent as compared to the prior year.
The August 2011 status report is provided in Attachment B. In August 2011,
traffic volume decreased by 3.5 percent over the same period in 2010 with
gross potential toll revenue decreasing by 5.8 percent.
The September 2011 status report for the 91 Express Lanes is provided in
Attachment C. As compared to the same period last year, in September 2011
traffic volume and gross potential toll revenue decreased by 5.5 percent and
8.2 percent, respectively.
91 Express Lanes Monthly Status Reports Page 2
The October 2011 status report for the 91 Express Lanes is provided in
Attachment D. In October 2011, traffic volume in the 91 Express Lanes
decreased 4.8 percent over the same period in 2010 and gross potential toll
revenue decreased by 9.7 percent as compared to the prior year.
The November 2011 status report for the 91 Express Lanes is provided in
Attachment E. In November 2011, traffic volume in the 91 Express Lanes
decreased 7.4 percent over the same period in 2010 and gross potential toll
revenue decreased by 9.9 percent as compared to the prior year.
The December 2011 status report is provided in Attachment F. In
December 2011, traffic volume decreased by 4.7 percent over the same period
in 2010 with gross potential toll revenue decreasing by 7.2 percent.
The January 2012 status report for the 91 Express Lanes is provided in
Attachment G. As compared to the same period last year, in January 2012
traffic volume increased by 0.8 percent. This is the first month since
November 2010 traffic has increased when compared to the prior year. For the
month of January 2012, gross potential toll revenue decreased by 0.8 percent.
Fiscal year 2011-12 year-to-date (YTD) traffic volume and toll revenue as of
the end of January 2012 were down, with YTD traffic volume decreasing by
5 percent and YTD potential toll revenue down by 8 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 July 2011 through
January 2012 are provided for review. The report highlights operational and
financial activities.
Attachments
A. 91 Express Lanes Status Report – As of July 31, 2011
B. 91 Express Lanes Status Report – As of August 31, 2011
C. 91 Express Lanes Status Report – As of September 30, 2011
D. 91 Express Lanes Status Report – As of October 31, 2011
E. 91 Express Lanes Status Report – As of November 30, 2011
F. 91 Express Lanes Status Report – As of December 31, 2011
G. 91 Express Lanes Status Report – As of January 31, 2012
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Attachment A
ATTACHMENT A
Orange County Transportation Authority
SSttaattuuss RReeppoorrtt
JJuullyy 22001111
As of July 31, 2011
2
. . . . . . . . .
Operations Overview
Traffic and Revenue Statistics
Total traffic volume on the 91 Express Lanes for July 2011 was 996,017. This represents a daily
average of 32,130. This is a 9.1% decrease in total traffic volume from the same period last year
when traffic levels totaled 1,095,330. Potential toll revenue for the month was $2,717,114 which
represents a decrease of 13.7% from the prior year’s total of $3,148,243. Carpool percentage for
the month was 27.3% as compared to the previous year’s rate of 26.2%.
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 2011.
Current Month-to-Date (MTD) as of July 31, 2011
(Fiscal Year (FY) 2011-12 data is for the corresponding month in that fiscal year)
Trips
July 11 MTD
Actual
July 10 MTD
Actual
Yr-to-Yr %
Variance
Full Toll Lanes 724,485 808,137 (10.4%)
3+ Lanes 271,532 287,193 (5.5%)
Total Gross Trips 996,017 1,095,330 (9.1%)
Revenue
Full Toll Lanes $2,641,137 $3,054,393 (13.5%)
3+ Lanes $75,977 $93,850 (19.0%)
Total Gross Revenue $2,717,114 $3,148,243 (13.7%)
Average Revenue Per Trip
Average Full Toll Lanes $3.65 $3.78 (3.4%)
Average 3+ Lanes $0.28 $0.33 (15.2%)
Average Revenue Per Trip $2.73 $2.87 (4.9%)
3
. . . . . . . . .
Traffic and Revenue Summary
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2011-12 on a monthly basis.
724,485
271,532
175,000
350,000
525,000
700,000
875,000
1,050,000
1,225,000
1,400,000
Jul -11 Aug -11 Sep -11 Oct-11 Nov -11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Vo
l
u
m
e
Month
FY 2011-12 Traffic Volume Overview
3+ Lanes Full Toll Lanes
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2011-12 on a monthly basis.
2,641,137
75,977
$2,500,000
$2,550,000
$2,600,000
$2,650,000
$2,700,000
$2,750,000
Jul -11 Aug -11 Sep -11 Oct-11 Nov-11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May -12 Jun -12
Re
v
e
n
u
e
Month
FY 2011-12 Revenue Summary
Full Toll Lanes 3+ Lanes
4
. . . . . . . . .
None of the peak traffic hour in the eastbound direction reached or exceeded 90% or more of
defined capacity during the month of July 2011. As demonstrated on the next chart, westbound
peak hour traffic volumes top out at 63% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $3.10 480 2,451 72%
1500 - 1600 $9.75 536 2,336 69%
1600 - 1700 $8.85 476 2,137 63%
1700 - 1800 $7.50 443 1,859 55%
1800 - 1900 $5.35 431 1,577 46%
1900 - 2000 $5.00 336 1,181 35%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $3.45 172 481 14%$4.15 299 1,753 52%$4.15 313 1,652 49%$4.25 333 1,887 56%$3.10 450 2,503 74%
1500 - 1600 $3.45 186 448 13%$3.70 485 2,216 65%$3.95 563 2,530 74%$5.45 581 2,873 85%$9.75 613 2,698 79%
1600 - 1700 $3.45 169 440 13%$7.30 487 2,378 70%$7.80 543 2,601 77%$9.45 538 2,732 80%$8.85 493 2,531 74%
1700 - 1800 $3.45 170 408 12%$6.75 439 2,183 64%$8.00 484 2,313 68%$9.30 503 2,697 79%$7.50 487 2,485 73%
1800 - 1900 $3.45 217 468 14%$3.60 469 1,898 56%$3.60 484 2,269 67%$4.40 514 2,666 78%$5.35 460 2,051 60%
1900 - 2000 $3.45 201 448 13%$3.15 282 1,038 31%$3.15 328 1,327 39%$4.55 425 1,863 55%$5.00 390 1,466 43%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 308 1,490 44%$4.15 325 1,565 46%$4.15 303 1,662 49%$4.25 336 1,816 53%$3.10 435 2,524 74%
1500 - 1600 $4.45 525 2,328 68%$3.70 537 2,531 74%$3.95 544 2,650 78%$5.45 550 2,560 75%$9.75 575 2,611 77%
1600 - 1700 $5.05 460 2,276 67%$7.30 478 2,554 75%$7.80 528 2,630 77%$9.45 551 2,601 77%$8.85 514 2,627 77%
1700 - 1800 $4.85 470 2,385 70%$6.75 466 2,547 75%$8.00 474 2,487 73%$9.30 464 2,427 71%$7.50 509 2,560 75%
1800 - 1900 $4.45 435 1,969 58%$3.60 506 2,346 69%$3.60 555 2,427 71%$4.40 477 2,374 70%$5.35 470 2,169 64%
1900 - 2000 $3.15 270 1,074 32%$3.15 328 1,356 40%$3.15 312 1,359 40%$4.55 367 1,557 46%$5.00 407 1,541 45%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 275 1,405 41%$4.15 292 1,593 47%$4.15 310 1,602 47%$4.25 325 1,756 52%$3.10 413 2,491 73%
1500 - 1600 $4.45 494 2,316 68%$3.70 521 2,367 70%$3.95 556 2,565 75%$5.45 585 2,638 78%$9.75 540 2,518 74%
1600 - 1700 $5.05 494 2,372 70%$7.30 534 2,537 75%$7.80 534 2,571 76%$9.45 537 2,422 71%$8.85 486 2,491 73%
1700 - 1800 $4.85 413 2,304 68%$6.75 487 2,496 73%$8.00 491 2,461 72%$9.30 550 2,678 79%$7.50 513 2,651 78%
1800 - 1900 $4.45 457 1,970 58%$3.60 468 2,119 62%$3.60 490 2,245 66%$4.40 582 2,592 76%$5.35 503 2,245 66%
1900 - 2000 $3.15 279 1,096 32%$3.15 347 1,355 40%$3.15 359 1,430 42%$4.55 417 1,765 52%$5.00 429 1,531 45%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 300 1,495 44%$4.15 307 1,584 47%$4.15 290 1,660 49%$4.25 361 1,999 59%$3.10 468 2,642 78%
1500 - 1600 $4.45 538 2,364 70%$3.70 536 2,483 73%$3.95 510 2,560 75%$5.45 572 2,710 80%$9.75 550 2,641 78%
1600 - 1700 $5.05 464 2,270 67%$7.30 506 2,552 75%$7.80 564 2,753 81%$9.45 523 2,621 77%$8.85 507 2,669 79%
1700 - 1800 $4.85 142 804 24%$6.75 454 2,510 74%$8.00 539 2,647 78%$9.30 535 2,526 74%$7.50 516 2,475 73%
1800 - 1900 $4.45 554 2,930 86%$3.60 513 2,269 67%$3.60 491 2,433 72%$4.40 516 2,396 70%$5.35 522 2,106 62%
1900 - 2000 $3.15 279 1,159 34%$3.15 354 1,482 44%$3.15 368 1,594 47%$4.55 424 1,580 46%$5.00 370 1,406 41%
07/20/11 07/21/11 Friday Monday Tuesday Wednesday Thursday
Monday Tuesday Wednesday Thursday
07/22/1107/18/11 07/19/11
07/15/1107/11/11 07/12/11 07/13/11 07/14/11 Friday
07/06/11 07/07/11 FridayMonday Tuesday Wednesday Thursday 07/08/1107/04/11 07/05/11
Monday Tuesday Wednesday Thursday 07/01/1106/27/11 06/28/11 06/29/11 06/30/11 Friday
Wednesday 07/27/11 Thursday 07/28/11Monday 07/25/11 Tuesday 07/26/11 Friday 07/29/11
5
. . . . . . . . .
WESTBOUND PEAK-HOUR VOLUMES
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 203 465 14%
0500 - 0600 $3.85 434 1,403 41%
0600 - 0700 $4.00 394 1,522 45%
0700 - 0800 $4.45 407 1,407 41%
0800 - 0900 $4.00 275 1,177 35%
0900 - 1000 $3.30 288 1,097 32%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $1.30 18 43 1%$2.45 197 534 16%$2.45 232 539 16%$2.45 229 555 16%$2.45 205 509 15%
0500 - 0600 $1.30 39 72 2%$4.00 442 1,653 49%$4.00 492 1,635 48%$4.00 479 1,627 48%$3.85 452 1,577 46%
0600 - 0700 $1.30 39 109 3%$4.15 433 2,025 60%$4.15 515 2,102 62%$4.15 530 2,118 62%$4.00 432 1,778 52%
0700 - 0800 $1.30 81 192 6%$4.60 374 1,674 49%$4.60 375 1,879 55%$4.60 420 1,986 58%$4.45 389 1,696 50%
0800 - 0900 $2.10 147 326 10%$4.15 233 1,311 39%$4.15 291 1,710 50%$4.15 293 1,545 45%$4.00 258 1,332 39%
0900 - 1000 $3.45 182 446 13%$3.30 236 1,146 34%$3.30 309 1,300 38%$3.30 289 1,284 38%$3.30 291 1,205 35%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 229 595 18%$2.45 250 571 17%$2.45 276 618 18%$2.45 260 588 17%$2.45 221 477 14%
0500 - 0600 $4.00 493 1,711 50%$4.00 509 1,646 48%$4.00 517 1,738 51%$4.00 489 1,668 49%$3.85 448 1,519 45%
0600 - 0700 $4.15 470 2,039 60%$4.15 476 1,962 58%$4.15 522 2,116 62%$4.15 510 2,092 62%$4.00 421 1,748 51%
0700 - 0800 $4.60 379 1,963 58%$4.60 397 1,934 57%$4.60 407 2,033 60%$4.60 435 2,025 60%$4.45 356 1,455 43%
0800 - 0900 $4.15 277 1,571 46%$4.15 250 1,451 43%$4.15 282 1,388 41%$4.15 283 1,428 42%$4.00 250 1,191 35%
0900 - 1000 $3.30 218 1,105 33%$3.30 233 1,155 34%$3.30 249 1,194 35%$3.30 236 1,258 37%$3.30 237 1,083 32%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 226 586 17%$2.45 263 582 17%$2.45 273 580 17%$2.45 246 551 16%$2.45 214 512 15%
0500 - 0600 $4.00 443 1,448 43%$4.00 511 1,699 50%$4.00 475 1,587 47%$4.00 482 1,614 47%$3.85 424 1,458 43%
0600 - 0700 $4.15 458 2,003 59%$4.15 447 1,961 58%$4.15 464 1,889 56%$4.15 497 2,135 63%$4.00 427 1,720 51%
0700 - 0800 $4.60 392 1,883 55%$4.60 411 1,940 57%$4.60 402 1,941 57%$4.60 385 1,985 58%$4.45 377 1,539 45%
0800 - 0900 $4.15 250 1,661 49%$4.15 278 1,793 53%$4.15 290 1,627 48%$4.15 270 1,554 46%$4.00 232 1,197 35%
0900 - 1000 $3.30 278 1,537 45%$3.30 311 1,631 48%$3.30 293 1,516 45%$3.30 289 1,309 39%$3.30 271 1,142 34%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 241 605 18%$2.45 249 560 16%$2.45 251 624 18%$2.45 243 546 16%$2.45 214 494 15%
0500 - 0600 $4.00 487 1,699 50%$4.00 517 1,660 49%$4.00 505 1,659 49%$4.00 481 1,711 50%$3.85 444 1,494 44%
0600 - 0700 $4.15 455 2,043 60%$4.15 489 2,059 61%$4.15 490 2,046 60%$4.15 506 2,065 61%$4.00 417 1,763 52%
0700 - 0800 $4.60 368 1,851 54%$4.60 375 1,979 58%$4.60 402 2,007 59%$4.60 404 1,999 59%$4.45 376 1,518 45%
0800 - 0900 $4.15 247 1,667 49%$4.15 272 1,662 49%$4.15 266 1,399 41%$4.15 282 1,547 46%$4.00 291 1,364 40%
0900 - 1000 $3.30 256 1,305 38%$3.30 282 1,461 43%$3.30 262 1,251 37%$3.30 284 1,306 38%$3.30 280 1,197 35%
07/14/11
07/21/11Monday Tuesday Wednesday Thursday 07/18/11 07/19/11 07/20/11
Monday Tuesday Wednesday Thursday07/11/11 07/12/11 07/13/11
07/07/11
07/01/1106/30/11
Monday Tuesday Wednesday Thursday07/04/11 07/05/11 07/06/11
Monday Tuesday Wednesday Thursday06/27/11 06/28/11 06/29/11
07/15/11
Monday 07/25/11 Tuesday 07/26/11 Wednesday 07/27/11 Thursday 07/28/11
Friday
Friday 07/29/11
Friday
07/08/11Friday
07/22/11Friday
6
. . . . . . . . .
Transponder Distribution Status
Tags % of Total Tags % of Total
Issued
To New Accounts 580 35.8%625 32.2%565 30.1%
Additional Tags to Existing Accounts 363 22.4%392 20.2%307 16.3%
Replacement Transponders 675 41.7%926 47.7%1,004 53.5%
Total Issued 1,618 1,943 1,875
Returned
Account Closures 538 40.6%611 36.8%475 30.9%
Accounts Downsizing 155 11.7%147 8.9%133 8.7%
Defective Transponders 633 47.7%901 54.3%930 60.4%
Total Returned 1,326 1,659 1,539
July-11 June-11
Average To-Date
FY 2010-11TRANSPONDER DISTRIBUTION
At the end of July 2011, the 91 Express Lanes had 112,983 active customer accounts, with
169,020 transponders assigned to those accounts.
TRANSPONDER INVENTORY STATUS Internal External Total
Available for Distribution:5,605 66 5,671
Customer-Returned Tag Classification
1. Under Warranty - will Return to Sirit:0
2. Out of Warranty - will Destroy:1,995
3. Not yet Classified:2,183
9,849
169,020
TRANSPONDERS ON-HAND:
Total Transponders On-hand:
Transponders Currently Assigned to Accounts:
July 2011
Number of Accounts by Fiscal Year
As of July 31, 2011
97,001 98,569 100,528
106,280
113,263
118,416 119,992 117,888 114,556 114,138 112,584 112,983
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Fiscal Year
7
. . . . . . . . .
Operational Highlights
On-road Operations
Customer Assistance Specialists (CAS) responded to 87 calls during July. The CAS team
received 63 calls to assist disabled vehicles, 12 calls to remove debris and conducted 8 assists or
traffic breaks. There were 6 accidents in the Express Lanes and 1 accident in the general-
purpose lanes the CAS provided assistance to.
8
. . . . . . . . .
Financial Highlights
91 Express Lanes
Operating Statement
Description Actual (1)Budget (1)Dollar $Percent (%)
Operating revenues:
Toll revenue 2,964,258.74 2,845,910.00$ 118,348.74$ 4.2
Fee revenue 518,098.27 247,191.00 270,907.27 109.6
Total operating revenues 3,482,357.01 3,093,101.00 389,256.01 12.6
Operating expenses:
Contracted services 679,851.22 1,067,039.00 387,187.78 36.3
Administrative fee 163,721.59 191,969.00 28,247.41 14.7
Other professional services - 226,975.00 226,975.00 100.0
Credit card processing fees 82,315.57 93,748.00 11,432.43 12.2
Toll road account servicing 34,583.95 87,627.00 53,043.05 60.5
Other insurance expense 25,702.38 20,750.00 (4,952.38) (23.9)
Toll road maintenance supply repairs 11,686.00 21,995.00 10,309.00 46.9
Patrol services 31,053.58 33,200.00 2,146.42 6.5
Building equipment repairs and maint 1,897.84 - (1,897.84) N/A
Other services 2,499.86 800.00 (1,699.86) (212.5)
Advertising fees - - - N/A
Utilities - 1,494.00 1,494.00 100.0
Office expense 705.00 12,927.00 12,222.00 94.5
Bad debt expense - - - N/A
Miscellaneous (2)9,921.39 19,027.00 9,105.61 47.9
Leases 30,481.02 34,445.00 3,963.98 11.5
Total operating expenses 1,074,419.40 1,811,996.00 737,576.60 40.7
Depreciation and amortization (3)718,285.49 - (718,285.49) N/A
Operating income (loss)1,689,652.12 1,281,105.00 408,547.12 31.9
Nonoperating revenues (expenses):
Federal assistance grants - - - N/A
Interest income 1,076.35 73,572.00 (72,495.65) (98.5)
Interest expense (560,602.68) (567,196.00) 6,593.32 1.2
Other 2,666.00 - 2,666.00 N/A
Total nonoperating revenues (expenses)(556,860.33) (493,624.00) (63,236.33) (12.8)
Transfers in - - - N/A
Transfers out - - - N/A
Net income (loss)1,132,791.79$ 787,481.00$ 345,310.79$ 43.9
¹Actual 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.
²Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
³Depreciation and amortization are not budgeted items.
YTD as of July 31, 2011 YTD Variance
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Attachment B
ATTACHMENT B
Orange County Transportation Authority
SSttaattuuss RReeppoorrtt
AAuugguusstt 22001111
As of August 31, 2011
2
. . . . . . . . .
Operations Overview
Traffic and Revenue Statistics
Total traffic volume on the 91 Express Lanes for August 2011 was 1,048,380. This represents a
daily average of 33,819. This is a 3.5% decrease in total traffic volume from the same period last
year when traffic levels totaled 1,086,328. Potential toll revenue for the month was $2,997,883
which represents a decrease of 5.8% from the prior year’s total of $3,181,035. Carpool
percentage for the month was 24.3% as compared to the previous year’s rate of 24.2%.
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 2011.
Current Month-to-Date (MTD) as of August 31, 2011
(Fiscal Year (FY) 2011-12 data is for the corresponding month in that fiscal year)
Trips
August 11
MTD Actual
August 10
MTD Actual
Yr-to-Yr %
Variance
Full Toll Lanes 793,176 823,210 -3.6%
3+ Lanes 255,204 263,118 -3.0%
Total Gross Trips 1,048,380 1,086,328 -3.5%
Revenue
Full Toll Lanes $2,917,855 $3,092,461 -5.6%
3+ Lanes $80,028 $88,574 -9.6%
Total Gross Revenue $2,997,883 $3,181,035 -5.8%
Average Revenue Per Trip
Average Full Toll Lanes $3.68 $3.76 -2.1%
Average 3+ Lanes $0.31 $0.34 -8.8%
Average Revenue Per Trip $2.86 $2.93 -2.4%
3
. . . . . . . . .
The 2012 fiscal year-to-date (YTD) traffic volume is 6.3% lower than the same period last year.
The 2012 fiscal year-to-date revenue is 9.9% lower than for the same period last year. Year-to-
date average revenue per-trip is $2.79.
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 2011 through August 2011.
FY 2011-12 to Date as of August 31, 2011
(FY 2011-12 data is for the period July 1, 2011 through August 31, 2011; FY 2010-11 data is for the corresponding period in that fiscal year.)
Trips
FY 2011-12
YTD Actual
FY 2010-11
YTD Actual
Yr-to-Yr %
Variance
Full Toll Lanes 1,517,929 1,631,347 -7.0%
3+ Lanes 526,877 550,311 -4.3%
Total Gross Trips 2,044,806 2,181,658 -6.3%
Revenue
Full Toll Lanes $5,545,883 $6,146,855 -9.8%
3+ Lanes $156,874 $182,424 -14.0%
Total Gross Revenue $5,702,757 $6,329,279 -9.9%
Average Revenue Per Trip
Average Full Toll Lanes $3.65 $3.77 -3.2%
Average 3+ Lanes $0.30 $0.33 -9.1%
Average Revenue Per Trip $2.79 $2.90 -3.8%
4
. . . . . . . . .
Traffic and Revenue Summary
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2011-12 on a monthly basis.
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2011-12 on a monthly basis.
5
. . . . . . . . .
None of the peak traffic hour in the eastbound direction reached or exceeded 90% or more of
defined capacity during the month of August 2011. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 65% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 288 1,557 46%$4.15 317 1,827 54%$4.15 294 1,599 47%$4.25 325 1,801 53%$3.10 439 2,555 75%
1500 - 1600 $4.45 420 1,838 54%$3.70 524 2,494 73%$3.95 598 2,571 76%$5.45 573 2,756 81%$9.75 573 2,534 75%
1600 - 1700 $5.05 406 2,131 63%$7.30 531 2,481 73%$7.80 514 2,455 72%$9.45 542 2,549 75%$8.85 565 2,610 77%
1700 - 1800 $4.85 470 2,446 72%$6.75 518 2,526 74%$8.00 438 1,923 57%$9.30 503 2,460 72%$7.50 451 2,364 70%
1800 - 1900 $4.45 496 2,158 63%$3.60 492 2,184 64%$3.60 530 2,571 76%$4.40 499 2,386 70%$5.35 488 1,951 57%
1900 - 2000 $3.15 284 1,128 33%$3.15 278 1,247 37%$3.15 342 1,490 44%$4.55 392 1,627 48%$5.00 416 1,410 41%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 311 1,957 58%$4.15 290 1,590 47%$4.15 253 1,549 46%$4.25 292 1,868 55%$3.10 414 2,595 76%
1500 - 1600 $4.45 526 2,565 75%$3.70 515 2,528 74%$3.95 441 2,555 75%$5.45 499 2,770 81%$9.75 534 2,528 74%
1600 - 1700 $5.05 499 2,547 75%$7.30 528 2,615 77%$7.80 519 2,847 84%$9.45 553 2,726 80%$8.85 473 2,754 81%
1700 - 1800 $4.85 466 2,534 75%$6.75 488 2,584 76%$8.00 486 2,769 81%$9.30 449 2,575 76%$7.50 428 2,366 70%
1800 - 1900 $4.45 423 1,948 57%$3.60 496 2,315 68%$3.60 447 2,650 78%$4.40 464 2,374 70%$5.35 426 1,863 55%
1900 - 2000 $3.15 282 1,122 33%$3.15 342 1,308 38%$3.15 348 1,812 53%$4.55 306 1,407 41%$5.00 338 1,317 39%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 247 1,501 44%$4.15 252 1,641 48%$4.15 277 1,678 49%$4.25 275 1,878 55%$3.10 413 2,728 80%
1500 - 1600 $4.45 453 2,223 65%$3.70 461 2,441 72%$3.95 457 2,528 74%$5.45 520 2,642 78%$9.75 538 2,754 81%
1600 - 1700 $5.05 430 2,433 72%$7.30 431 2,534 75%$7.80 458 2,649 78%$9.45 501 2,730 80%$8.85 462 2,774 82%
1700 - 1800 $4.85 357 2,471 73%$6.75 447 2,478 73%$8.00 434 2,531 74%$9.30 477 2,678 79%$7.50 439 2,594 76%
1800 - 1900 $4.45 406 2,090 61%$3.60 418 2,193 65%$3.60 433 2,271 67%$4.40 423 2,325 68%$5.35 507 2,416 71%
1900 - 2000 $3.15 240 1,156 34%$3.15 269 1,317 39%$3.15 327 1,501 44%$4.55 297 1,407 41%$5.00 407 1,983 58%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 286 1,684 50%$4.15 258 1,670 49%$4.15 272 1,676 49%$4.25 311 2,063 61%$3.10 419 2,648 78%
1500 - 1600 $4.45 476 2,493 73%$3.70 483 2,514 74%$3.95 499 2,672 79%$5.45 533 2,775 82%$9.75 541 2,791 82%
1600 - 1700 $5.05 455 2,497 73%$7.30 449 2,618 77%$7.80 449 2,674 79%$9.45 554 2,844 84%$8.85 449 2,818 83%
1700 - 1800 $4.85 385 2,408 71%$6.75 444 2,620 77%$8.00 447 2,472 73%$9.30 488 2,638 78%$7.50 436 2,581 76%
1800 - 1900 $4.45 401 1,948 57%$3.60 429 2,377 70%$3.60 450 2,325 68%$4.40 467 2,543 75%$5.35 437 2,165 64%
1900 - 2000 $3.15 247 1,040 31%$3.15 293 1,425 42%$3.15 305 1,426 42%$4.55 336 1,650 49%$5.00 358 1,478 43%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 246 1,572 46%$4.15 280 1,731 51%$4.15 259 1,702 50%
1500 - 1600 $4.45 448 2,399 71%$3.70 488 2,666 78%$3.95 508 2,650 78%
1600 - 1700 $5.05 405 2,444 72%$7.30 486 2,726 80%$7.80 449 2,487 73%
1700 - 1800 $4.85 418 2,397 71%$6.75 403 2,590 76%$8.00 481 2,882 85%
1800 - 1900 $4.45 374 1,864 55%$3.60 426 2,385 70%$3.60 471 2,504 74%
1900 - 2000 $3.15 236 1,090 32%$3.15 312 1,564 46%$3.15 314 1,547 46%
Monday Tuesday Wednesday Thursday 08/05/1108/01/11 08/02/11 08/03/11 08/04/11 Friday
Monday 08/08/11 Tuesday 08/09/11
Thursday 08/18/11
Wednesday 08/10/11 Thursday 08/11/11
Thursday 08/25/11
Friday 08/12/11
Monday 08/15/11 Tuesday 08/16/11 Wednesday 08/17/11
Thursday 09/01/11
Friday 08/19/11
Monday 08/22/11 Tuesday 08/23/11 Wednesday 08/24/11 Friday 08/26/11
Monday 08/29/11 Tuesday 08/30/11 Wednesday 08/31/11 Friday 09/02/11
6
. . . . . . . . .
WESTBOUND PEAK-HOUR VOLUMES
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 246 652 19%$2.45 249 625 18%$2.45 252 585 17%$2.45 252 568 17%$2.45 211 494 15%
0500 - 0600 $4.00 468 1,621 48%$4.00 502 1,717 51%$4.00 493 1,722 51%$4.00 502 1,623 48%$3.85 436 1,500 44%
0600 - 0700 $4.15 460 1,999 59%$4.15 515 2,103 62%$4.15 497 2,092 62%$4.15 498 2,085 61%$4.00 415 1,714 50%
0700 - 0800 $4.60 363 1,912 56%$4.60 390 1,950 57%$4.60 394 1,929 57%$4.60 390 1,974 58%$4.45 389 1,654 49%
0800 - 0900 $4.15 265 1,623 48%$4.15 256 1,524 45%$4.15 268 1,591 47%$4.15 263 1,498 44%$4.00 262 1,342 39%
0900 - 1000 $3.30 246 1,235 36%$3.30 290 1,312 39%$3.30 273 1,332 39%$3.30 362 1,628 48%$3.30 303 1,267 37%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 223 600 18%$2.45 240 591 17%$2.45 259 600 18%$2.45 239 553 16%$2.45 223 495 15%
0500 - 0600 $4.00 455 1,601 47%$4.00 479 1,640 48%$4.00 470 1,632 48%$4.00 496 1,662 49%$3.85 432 1,509 44%
0600 - 0700 $4.15 464 1,998 59%$4.15 462 2,010 59%$4.15 475 2,031 60%$4.15 420 1,588 47%$4.00 409 1,661 49%
0700 - 0800 $4.60 365 1,873 55%$4.60 387 1,980 58%$4.60 330 1,719 51%$4.60 393 2,014 59%$4.45 312 1,511 44%
0800 - 0900 $4.15 254 1,434 42%$4.15 260 1,537 45%$4.15 225 1,347 40%$4.15 220 1,622 48%$4.00 227 1,277 38%
0900 - 1000 $3.30 243 1,174 35%$3.30 227 1,176 35%$3.30 217 1,213 36%$3.30 192 1,210 36%$3.30 196 1,116 33%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 240 604 18%$2.45 248 603 18%$2.45 247 594 17%$2.45 258 629 19%$2.45 217 510 15%
0500 - 0600 $4.00 457 1,640 48%$4.00 495 1,659 49%$4.00 502 1,741 51%$4.00 483 1,642 48%$3.85 420 1,498 44%
0600 - 0700 $4.15 478 2,025 60%$4.15 464 2,069 61%$4.15 480 2,052 60%$4.15 496 2,072 61%$4.00 422 1,748 51%
0700 - 0800 $4.60 310 1,902 56%$4.60 356 1,969 58%$4.60 359 2,030 60%$4.60 339 1,894 56%$4.45 332 1,531 45%
0800 - 0900 $4.15 213 1,524 45%$4.15 221 1,536 45%$4.15 265 1,913 56%$4.15 227 1,551 46%$4.00 231 1,353 40%
0900 - 1000 $3.30 172 1,195 35%$3.30 190 1,293 38%$3.30 222 1,586 47%$3.30 198 1,318 39%$3.30 185 1,116 33%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 229 625 18%$2.45 224 609 18%$2.45 252 599 18%$2.45 262 625 18%$2.45 223 547 16%
0500 - 0600 $4.00 452 1,664 49%$4.00 491 1,589 47%$4.00 499 1,678 49%$4.00 475 1,671 49%$3.85 463 1,621 48%
0600 - 0700 $4.15 476 2,079 61%$4.15 492 1,971 58%$4.15 531 2,103 62%$4.15 569 2,172 64%$4.00 466 1,869 55%
0700 - 0800 $4.60 340 2,018 59%$4.60 379 2,014 59%$4.60 383 2,087 61%$4.60 406 2,208 65%$4.45 352 1,731 51%
0800 - 0900 $4.15 199 1,427 42%$4.15 231 1,783 52%$4.15 248 1,927 57%$4.15 263 1,810 53%$4.00 203 1,332 39%
0900 - 1000 $3.30 233 1,312 39%$3.30 225 1,610 47%$3.30 222 1,650 49%$3.30 220 1,456 43%$3.30 218 1,214 36%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 229 607 18%$2.45 256 594 17%$2.45 255 604 18%
0500 - 0600 $4.00 464 1,701 50%$4.00 515 1,704 50%$4.00 484 1,645 48%
0600 - 0700 $4.15 516 2,073 61%$4.15 506 2,053 60%$4.15 548 2,171 64%
0700 - 0800 $4.60 392 2,051 60%$4.60 448 2,168 64%$4.60 427 2,167 64%
0800 - 0900 $4.15 231 1,811 53%$4.15 248 1,801 53%$4.15 227 1,742 51%
0900 - 1000 $3.30 148 1,312 39%$3.30 181 1,377 41%$3.30 166 1,282 38%
Wednesday Thursday 08/05/1108/01/11 08/02/11 08/03/11 08/04/11 Friday Monday Tuesday
Thursday 08/11/11
Thursday 08/18/11
Monday 08/08/11 Tuesday 08/09/11 Wednesday 08/10/11
Thursday 08/25/11
Friday 08/12/11
Monday 08/15/11 Tuesday 08/16/11 Wednesday 08/17/11
Thursday 09/01/11
Friday 08/19/11
Monday 08/22/11 Tuesday 08/23/11 Wednesday 08/24/11
Friday 09/02/11
Friday 08/26/11
Monday 08/29/11 Tuesday 08/30/11 Wednesday 08/31/11
7
. . . . . . . . .
Transponder Distribution Status
Tags % of Total Tags % of Total
Issued
To New Accounts 744 34.8%580 35.8%662 35.2%
Additional Tags to Existing Accounts 480 22.4%363 22.4%422 22.4%
Replacement Transponders 917 42.8%675 41.7%796 42.4%
Total Issued 2,141 1,618 1,880
Returned
Account Closures 509 34.3%538 40.6%524 37.3%
Accounts Downsizing 145 9.8%155 11.7%150 10.7%
Defective Transponders 829 55.9%633 47.7%731 52.0%
Total Returned 1,483 1,326 1,405
Average To-Date
FY 2011-12TRANSPONDER DISTRIBUTION August-11 July-11
At the end of August 2011, the 91 Express Lanes had 113,116 active customer accounts, with
169,365 transponders assigned to those accounts.
TRANSPONDER INVENTORY STATUS Internal External Total
Available for Distribution:5,671 0 5,671
Customer-Returned Tag Classification
1. Under Warranty - will Return to Sirit:0
2. Out of Warranty - will Destroy:0
3. Not yet Classified:2,183
7,854
169,365
TRANSPONDERS ON-HAND:
Total Transponders On-hand:
Transponders Currently Assigned to Accounts:
August 2011
Number of Accounts by Fiscal Year
As of August 31, 2011
97,001 98,569 100,528
106,280
113,263
118,416 119,992 117,888 114,556 114,138 112,584 113,116
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Fiscal Year
8
. . . . . . . . .
Operational Highlights
On-road Operations
Customer Assistance Specialists (CAS) responded to 101 calls during August. The CAS team
received 70 calls to assist disabled vehicles, 9 calls to remove debris and conducted 14 assists or
traffic breaks. There were 4 accidents in the Express Lanes and 4 accidents in the general-
purpose lanes the CAS provided assistance to.
9
. . . . . . . . .
Financial Highlights
91 Express Lanes
Operating Statement
Description Actual (1)Budget (1)Dollar $Percent (%)
Operating revenues:
Toll revenue 6,067,452.07$ 5,695,595.00$ 371,857.07$ 6.5
Fee revenue 1,003,156.84 750,584.00 252,572.84 33.7
Total operating revenues 7,070,608.91 6,446,179.00 624,429.91 9.7
Operating expenses:
Contracted services 969,776.83 1,632,340.00 662,563.17 40.6
Administrative fee 284,200.44 383,938.00 99,737.56 26.0
Other professional services 6,841.97 284,050.00 277,208.03 97.6
Credit card processing fees 173,660.22 187,496.00 13,835.78 7.4
Toll road account servicing 46,710.55 175,254.00 128,543.45 73.3
Other insurance expense 51,404.76 41,500.00 (9,904.76) (23.9)
Toll road maintenance supply repairs 26,662.67 43,990.00 17,327.33 39.4
Patrol services 64,414.84 66,400.00 1,985.16 3.0
Building equipment repairs and maint 43,197.92 69,028.00 25,830.08 37.4
Other services 4,999.72 11,975.00 6,975.28 58.2
Advertising fees - - - N/A
Utilities 1,736.49 2,988.00 1,251.51 41.9
Office expense 2,038.89 25,854.00 23,815.11 92.1
Bad debt expense - - - N/A
Miscellaneous (2)26,559.10 38,054.00 11,494.90 30.2
Leases 91,443.06 68,890.00 (22,553.06) (32.7)
Property taxes - - - N/A
Total operating expenses 1,793,647.46 3,031,757.00 1,238,109.54 40.8
Depreciation and amortization (3)1,435,695.31 - (1,435,695.31) N/A
Operating income (loss)3,841,266.14 3,414,422.00 426,844.14 12.5
Nonoperating revenues (expenses):
Federal assistance grants - - - N/A
Interest income 85,674.21 314,682.00 (229,007.79) (72.8)
Interest expense (1,108,618.02) (1,114,392.00) 5,773.98 0.5
Other 1,333.00 - 1,333.00 N/A
Total nonoperating revenues (expenses)(1,021,610.81) (799,710.00) (221,900.81) (27.7)
Transfers in - - - N/A
Transfers out - - - N/A
Net income (loss)2,819,655.33$ 2,614,712.00$ 204,943.33$ 7.8
¹Actual 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.
²Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
³Depreciation and amortization are not budgeted items.
YTD as of August 31, 2011 YTD Variance
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Attachment C
ATTACHMENT C
Orange County Transportation Authority
SSttaattuuss RReeppoorrtt
SSeepptteemmbbeerr 22001111
As of September 30, 2011
2
. . . . . . . . .
Operations Overview
Traffic and Revenue Statistics
Total traffic volume on the 91 Express Lanes for September 2011 was 970,788. This represents
a daily average of 32,360. This is a 5.5% decrease in total traffic volume from the same period
last year when traffic levels totaled 1,027,404. Potential toll revenue for the month was
$2,899,822 which represents a decrease of 8.2% from the prior year’s total of $3,158,583.
Carpool percentage for the month was 23.2% as compared to the previous year’s rate of 22.9%.
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 2011.
Current Month-to-Date (MTD) as of September 30, 2011
(Fiscal Year (FY) 2011-12 data is for the corresponding month in that fiscal year)
Trips
September 11
MTD Actual
September 10
MTD Actual
Yr-to-Yr %
Variance
Full Toll Lanes 745,803 792,408 -5.9%
3+ Lanes 224,985 234,996 -4.3%
Total Gross Trips 970,788 1,027,404 -5.5%
Revenue
Full Toll Lanes $2,826,509 $3,074,119 -8.1%
3+ Lanes $73,313 $84,464 -13.2%
Total Gross Revenue $2,899,822 $3,158,583 -8.2%
Average Revenue Per Trip
Average Full Toll Lanes $3.79 $3.88 -2.3%
Average 3+ Lanes $0.33 $0.36 -9.3%
Average Revenue Per Trip $2.99 $3.07 -2.6%
3
. . . . . . . . .
The 2012 fiscal year-to-date (YTD) traffic volume is 6% lower than the same period last year.
The 2012 fiscal year-to-date revenue is 9.2% lower than for the same period last year. Year-to-
date average revenue per-trip is $2.86.
Fiscal year-to-date traffic and revenue data are summarized in the table below. The following trip
and revenue statistics tables represent all trips taken on the 91 Express Lanes and associated
potential revenue for the months of July 2011 through September 2011.
FY 2011-12 to Date as of September 30, 2011
(FY 2011-12 data is for the period July 1, 2011 through September 30, 2011; FY 2010-11 data is for the corresponding period in that fiscal year.)
Trips
FY 2011-12
YTD Actual
FY 2010-11
YTD Actual
Yr-to-Yr %
Variance
Full Toll Lanes 2,263,556 2,423,755 -6.6%
3+ Lanes 751,842 785,307 -4.3%
Total Gross Trips 3,015,398 3,209,062 -6.0%
Revenue
Full Toll Lanes $8,388,519 $9,220,974 -9.0%
3+ Lanes $229,476 $266,888 -14.0%
Total Gross Revenue $8,617,995 $9,487,862 -9.2%
Average Revenue Per Trip
Average Full Toll Lanes $3.71 $3.80 -2.6%
Average 3+ Lanes $0.31 $0.34 -10.2%
Average Revenue Per Trip $2.86 $2.96 -3.3%
4
. . . . . . . . .
Traffic and Revenue Summary
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2011-12 on a monthly basis.
724,753 793,176 745,803
271,673
255,204
224,985
175,000
350,000
525,000
700,000
875,000
1,050,000
1,225,000
1,400,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec -11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Vo
l
u
m
e
Month
FY 2011-12 Traffic Volume Overview
3+ Lanes Full Toll Lanes
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2011-12 on a monthly basis.
2,628,028
2,917,855
2,826,509 76,846
80,028
73,313
$2,500,000
$2,600,000
$2,700,000
$2,800,000
$2,900,000
$3,000,000
$3,100,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Re
v
e
n
u
e
Month
FY 2011-12 Revenue Summary
Full Toll Lanes 3+ Lanes
5
. . . . . . . . .
None of the peak traffic hour in the eastbound direction reached or exceeded 90% or more of
defined capacity during the month of September 2011. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 72% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.25 292 1,956 58%$3.10 422 2,752 81%
1500 - 1600 $5.45 500 2,757 81%$9.75 551 2,783 82%
1600 - 1700 $9.45 487 2,827 83%$8.85 498 2,485 73%
1700 - 1800 $9.30 432 2,583 76%$7.50 389 2,021 59%
1800 - 1900 $4.40 500 2,740 81%$5.35 413 1,694 50%
1900 - 2000 $4.55 339 1,920 56%$5.00 380 1,313 39%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $3.65 226 588 17%$4.15 203 1,569 46%$4.15 253 1,608 47%$4.25 254 1,918 56%$3.10 364 2,690 79%
1500 - 1600 $3.65 250 603 18%$3.70 467 2,460 72%$3.95 491 2,476 73%$5.45 490 2,705 80%$9.75 582 2,693 79%
1600 - 1700 $3.65 288 634 19%$7.30 415 2,450 72%$7.80 431 2,594 76%$9.45 500 2,684 79%$8.85 462 2,646 78%
1700 - 1800 $3.65 279 633 19%$6.75 443 2,491 73%$8.00 411 2,354 69%$9.30 434 2,525 74%$7.50 421 2,431 72%
1800 - 1900 $3.65 306 641 19%$3.60 441 2,131 63%$3.60 425 2,265 67%$4.40 461 2,503 74%$5.35 384 2,056 60%
1900 - 2000 $3.65 373 709 21%$3.15 257 1,224 36%$3.15 298 1,330 39%$4.55 316 1,573 46%$5.00 349 1,453 43%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 216 1,479 44%$4.15 218 1,606 47%$4.15 245 1,962 58%$4.25 237 1,817 53%$3.10 366 2,663 78%
1500 - 1600 $4.45 460 2,302 68%$3.70 481 2,499 74%$3.95 512 2,588 76%$5.45 472 2,526 74%$9.75 598 2,830 83%
1600 - 1700 $5.05 408 2,399 71%$7.30 421 2,332 69%$7.80 454 2,654 78%$9.45 478 2,461 72%$8.85 481 2,826 83%
1700 - 1800 $4.85 392 2,262 67%$6.75 425 2,412 71%$8.00 418 2,426 71%$9.30 446 2,576 76%$7.50 423 2,539 75%
1800 - 1900 $4.45 414 1,935 57%$3.60 437 2,154 63%$3.60 463 2,326 68%$4.40 441 2,471 73%$5.35 415 2,302 68%
1900 - 2000 $3.15 267 1,112 33%$3.15 286 1,286 38%$3.15 306 1,334 39%$4.55 344 1,631 48%$5.00 339 1,372 40%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 230 1,543 45%$4.15 206 1,552 46%$4.15 221 1,631 48%$4.25 286 1,905 56%$3.10 391 2,659 78%
1500 - 1600 $4.45 461 2,318 68%$3.70 451 2,310 68%$3.95 483 2,583 76%$5.45 498 2,633 77%$9.75 609 2,853 84%
1600 - 1700 $5.05 423 2,422 71%$7.30 451 2,504 74%$7.80 482 2,663 78%$9.45 503 2,614 77%$8.85 505 2,749 81%
1700 - 1800 $4.85 401 2,391 70%$6.75 412 2,466 73%$8.00 459 2,612 77%$9.30 464 2,472 73%$7.50 475 2,611 77%
1800 - 1900 $4.45 412 2,004 59%$3.60 406 2,113 62%$3.60 446 2,424 71%$4.40 430 2,408 71%$5.35 447 2,216 65%
1900 - 2000 $3.15 259 1,103 32%$3.15 305 1,330 39%$3.15 309 1,472 43%$4.55 339 1,413 42%$5.00 393 1,517 45%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 209 1,464 43%$4.15 225 1,627 48%$4.15 222 1,694 50%$4.25 270 1,968 58%$3.10 364 2,649 78%
1500 - 1600 $4.45 473 2,483 73%$3.70 420 2,482 73%$3.95 516 2,629 77%$5.45 511 2,678 79%$9.75 593 2,836 83%
1600 - 1700 $5.05 424 2,401 71%$7.30 543 2,876 85%$7.80 469 2,532 74%$9.45 464 2,603 77%$8.85 489 2,732 80%
1700 - 1800 $4.85 448 2,382 70%$6.75 403 2,340 69%$8.00 447 2,430 71%$9.30 441 2,473 73%$7.50 434 2,597 76%
1800 - 1900 $4.45 398 1,809 53%$3.60 437 2,020 59%$3.60 469 2,405 71%$4.40 460 2,285 67%$5.35 451 2,183 64%
1900 - 2000 $3.15 243 1,121 33%$3.15 282 1,260 37%$3.15 358 1,467 43%$4.55 309 1,494 44%$5.00 372 1,684 50%
Friday 09/30/11Thursday 09/29/11
Monday Tuesday Wednesday Thursday
Monday 09/26/11 Tuesday 09/27/11 Wednesday 09/28/11
09/02/1108/29/11 08/30/11 08/31/11 09/01/11 Friday
09/09/1109/05/11 09/06/11 09/07/11 09/08/11 FridayMonday Tuesday Wednesday Thursday
Monday Tuesday Wednesday Thursday 09/16/1109/12/11 09/13/11 09/14/11 09/15/11 Friday
Monday Tuesday Wednesday Thursday 09/23/1109/19/11 09/20/11 09/21/11 09/22/11 Friday
6
. . . . . . . . .
WESTBOUND PEAK-HOUR VOLUMES
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 271 633 19%$2.45 208 490 14%
0500 - 0600 $4.00 501 1,637 48%$4.00 424 1,415 42%
0600 - 0700 $4.15 561 2,142 63%$4.15 442 1,661 49%
0700 - 0800 $4.60 424 2,135 63%$4.45 368 1,536 45%
0800 - 0900 $4.60 189 1,542 45%$4.25 202 1,194 35%
0900 - 1000 $4.60 178 1,167 34%$3.75 121 700 21%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $1.30 19 39 1%$2.45 246 659 19%$2.45 257 639 19%$2.45 271 639 19%$2.45 239 582 17%
0500 - 0600 $1.30 34 65 2%$4.00 454 1,664 49%$4.00 486 1,678 49%$4.00 509 1,705 50%$3.85 483 1,610 47%
0600 - 0700 $2.10 33 102 3%$4.15 541 2,180 64%$4.15 556 2,240 66%$4.15 533 2,134 63%$4.00 489 1,925 57%
0700 - 0800 $2.10 53 119 4%$4.60 438 2,177 64%$4.60 443 2,167 64%$4.60 476 2,295 68%$4.45 444 2,067 61%
0800 - 0900 $2.10 114 253 7%$4.15 242 1,902 56%$4.15 211 1,844 54%$4.15 230 1,864 55%$4.00 228 1,691 50%
0900 - 1000 $3.05 182 411 12%$3.30 177 1,539 45%$3.30 157 1,460 43%$3.30 189 1,599 47%$3.30 176 1,146 34%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 259 659 19%$2.45 251 634 19%$2.45 272 640 19%$2.45 276 664 20%$2.45 221 558 16%
0500 - 0600 $4.00 479 1,703 50%$4.00 465 1,641 48%$4.00 492 1,732 51%$4.00 510 1,711 50%$3.85 453 1,573 46%
0600 - 0700 $4.15 550 2,188 64%$4.15 455 1,948 57%$4.15 566 2,189 64%$4.15 578 2,178 64%$4.00 537 1,902 56%
0700 - 0800 $4.60 463 2,299 68%$4.60 552 2,459 72%$4.60 437 2,250 66%$4.60 448 2,223 65%$4.45 382 1,819 54%
0800 - 0900 $4.15 182 1,791 53%$4.15 221 2,082 61%$4.15 226 1,863 55%$4.15 197 1,738 51%$4.00 193 1,486 44%
0900 - 1000 $3.30 171 1,386 41%$3.30 161 1,558 46%$3.30 146 1,276 38%$3.30 150 1,178 35%$3.30 162 1,077 32%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 230 639 19%$2.45 263 629 19%$2.45 259 609 18%$2.45 270 608 18%$2.45 223 554 16%
0500 - 0600 $4.00 477 1,720 51%$4.00 500 1,665 49%$4.00 499 1,718 51%$4.00 494 1,745 51%$3.85 401 1,347 40%
0600 - 0700 $4.15 555 2,138 63%$4.15 549 2,129 63%$4.15 569 2,167 64%$4.15 572 2,143 63%$4.00 415 1,528 45%
0700 - 0800 $4.60 440 2,163 64%$4.60 449 2,065 61%$4.60 481 2,252 66%$4.60 507 2,321 68%$4.45 519 2,303 68%
0800 - 0900 $4.15 199 1,713 50%$4.15 233 1,968 58%$4.15 214 1,763 52%$4.15 214 1,915 56%$4.00 246 1,822 54%
0900 - 1000 $3.30 134 1,220 36%$3.30 150 1,540 45%$3.30 168 1,239 36%$3.30 168 1,441 42%$3.30 172 1,256 37%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 226 577 17%$2.45 266 626 18%$2.45 255 602 18%$2.45 266 608 18%$2.45 214 528 16%
0500 - 0600 $4.00 453 1,485 44%$4.00 488 1,725 51%$4.00 497 1,724 51%$4.00 484 1,708 50%$3.85 458 1,654 49%
0600 - 0700 $4.15 533 2,083 61%$4.15 574 2,188 64%$4.15 569 2,150 63%$4.15 609 2,199 65%$4.00 501 1,882 55%
0700 - 0800 $4.60 511 2,338 69%$4.60 447 2,235 66%$4.60 438 2,264 67%$4.60 439 2,245 66%$4.45 397 1,859 55%
0800 - 0900 $4.15 226 2,022 59%$4.15 210 1,777 52%$4.15 222 1,598 47%$4.15 190 1,647 48%$4.00 223 1,601 47%
0900 - 1000 $3.30 139 1,247 37%$3.30 139 1,240 36%$3.30 153 1,187 35%$3.30 154 1,530 45%$3.30 151 1,149 34%
09/23/11Friday
09/29/11
Friday
Friday 09/30/11
Friday
09/09/11Friday
09/16/11
Monday 09/26/11 Tuesday 09/27/11 Wednesday 09/28/11 Thursday
Monday Tuesday Wednesday Thursday08/29/11 08/30/11 08/31/11
Monday Tuesday Wednesday Thursday09/05/11 09/06/11 09/07/11 09/08/11
09/02/1109/01/11
Monday Tuesday Wednesday Thursday09/12/11 09/13/11 09/14/11 09/15/11
09/22/11Monday Tuesday Wednesday Thursday 09/19/11 09/20/11 09/21/11
7
. . . . . . . . .
Transponder Distribution Status
Tags % of Total Tags % of Total
Issued
To New Accounts 592 30.0%744 34.8%958 33.4%
Additional Tags to Existing Accounts 411 20.8%480 22.4%627 21.9%
Replacement Transponders 969 49.1%917 42.8%1,281 44.7%
Total Issued 1,972 2,141 2,866
Returned
Account Closures 438 31.1%509 34.3%743 35.2%
Accounts Downsizing 152 10.8%145 9.8%226 10.7%
Defective Transponders 820 58.2%829 55.9%1,141 54.1%
Total Returned 1,410 1,483 2,110
September-11 August-11
Average To-Date
FY 2011-12TRANSPONDER DISTRIBUTION
At the end of September 2011, the 91 Express Lanes had 113,053 active customer accounts,
with 168,591 transponders assigned to those accounts.
TRANSPONDER INVENTORY STATUS Internal External Total
Available for Distribution:1,623 45 1,668
Customer-Returned Tag Classification
1. Under Warranty - will Return to Sirit:0
2. Out of Warranty - will Destroy:4,543
3. Not yet Classified:2,336
8,547
168,591
TRANSPONDERS ON-HAND:
Total Transponders On-hand:
Transponders Currently Assigned to Accounts:
September 2011
Number of Accounts by Fiscal Year
As of September 30, 2011
97,001 98,569 100,528
106,280
113,263
118,416 119,992 117,888 114,556 114,138 112,584 113,053
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Fiscal Year
8
. . . . . . . . .
Operational Highlights
On-road Operations
Customer Assistance Specialists (CAS) responded to 111 calls during September. The CAS
team received 77 calls to assist disabled vehicles, 11 calls to remove debris and conducted 19
assists or traffic breaks. The CAS provided assistance to 1 accident in the Express Lanes and 3
accidents in the general-purpose lanes.
9
. . . . . . . . .
Financial Highlights
91 Express Lanes
Operating Statement
Description Actual (1)Budget (1)Dollar $Percent (%)
Operating revenues:
Toll revenue 8,736,605.42 8,546,678.00$ 189,927.42$ 2.2
Fee revenue 1,535,943.63 1,237,663.00 298,280.63 24.1
Total operating revenues 10,272,549.05 9,784,341.00 488,208.05 5.0
Operating expenses:
Contracted services 1,549,628.05 2,204,451.00 654,822.95 29.7
Administrative fee 426,300.66 575,907.00 149,606.34 26.0
Other professional services 44,390.12 322,431.00 278,040.88 86.2
Credit card processing fees 254,166.29 282,374.00 28,207.71 10.0
Toll road account servicing 58,441.15 263,937.00 205,495.85 77.9
Other insurance expense 77,107.13 62,500.00 (14,607.13) (23.4)
Toll road maintenance supply repairs 43,169.46 66,250.00 23,080.54 34.8
Patrol services 95,683.37 100,000.00 4,316.63 4.3
Building equipment repairs and maint 68,538.51 (86,912.00) (155,450.51) 178.9
Other services 7,499.58 23,275.00 15,775.42 67.8
Advertising fees - - - N/A
Utilities 3,412.81 4,500.00 1,087.19 24.2
Office expense 3,574.08 38,937.00 35,362.92 90.8
Bad debt expense 3,001.63 - (3,001.63) N/A
Miscellaneous (2)39,099.70 60,660.00 21,560.30 35.5
Leases 100,105.38 103,750.00 3,644.62 3.5
Property taxes - - - N/A
Total operating expenses 2,774,117.92 4,022,060.00 1,247,942.08 31.0
Depreciation and amortization (3)2,153,402.76 - (2,153,402.76) N/A
Operating income (loss)5,345,028.37 5,762,281.00 (417,252.63) (7.2)
Nonoperating revenues (expenses):
Federal assistance grants - - - N/A
Interest income 124,184.17 416,166.00 (291,981.83) (70.2)
Interest expense (1,642,265.22) (1,668,180.00) 25,914.78 1.6
Other 26,889.80 - 26,889.80 N/A
Total nonoperating revenues (expenses)(1,491,191.25) (1,252,014.00) (239,177.25) (19.1)
Transfers in - - - N/A
Transfers out (89,936.62) - (89,936.62) N/A
Net income (loss)3,763,900.50$ 4,510,267.00$ (746,366.50)$ (16.5)
¹Actual 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.
²Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
³Depreciation and amortization are not budgeted items.
YTD as of September 30, 2011 YTD Variance
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Attachment D
ATTACHMENT D
Orange County Transportation Authority
SSttaattuuss RReeppoorrtt
OOccttoobbeerr 22001111
As of October 31, 2011
2
. . . . . . . . .
Operations Overview
Traffic and Revenue Statistics
Total traffic volume on the 91 Express Lanes for October 2011 was 982,685. This represents a
daily average of 31,700. This is a 4.8% decrease in total traffic volume from the same period last
year when traffic levels totaled 1,031,845. Potential toll revenue for the month was $2,835,419
which represents a decrease of 9.7% from the prior year’s total of $3,138,450. Carpool
percentage for the month was 22.9% as compared to the previous year’s rate of 22.3%.
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 2011.
Current Month-to-Date (MTD) as of October 31, 2011
(Fiscal Year (FY) 2011-12 data is for the corresponding month in that fiscal year)
Trips
Oct-11
MTD
Actual
Stantec
MTD
Projected
#
Variance
%
Variance
Oct-10
MTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 757,185 777,957 (20,772)(2.7%)801,736 (5.6%)
3+ Lanes 225,500 265,343 (39,843)(15.0%)230,109 (2.0%)
Total Gross Trips 982,685 1,043,300 (60,615)(5.8%)1,031,845 (4.8%)
Revenue
Full Toll Lanes $2,768,314 $2,800,032 ($31,719)(1.1%)$3,056,267 (9.4%)
3+ Lanes $67,105 $73,106 ($6,001)(8.2%)$82,183 (18.3%)
Total Gross Revenue $2,835,419 $2,873,139 ($37,720)(1.3%)$3,138,450 (9.7%)
Average Revenue per Trip
Average Full Toll Lanes $3.66 $3.60 $0.06 1.7%$3.81 (3.9%)
Average 3+ Lanes $0.30 $0.28 $0.02 7.1%$0.36 (16.7%)
Average Revenue Per Trip $2.89 $2.75 $0.14 5.1%$3.04 (4.9%)
3
. . . . . . . . .
The 2012 fiscal year-to-date (YTD) traffic volume is 5.7% lower than the same period last year.
The 2012 fiscal year-to-date revenue is 9.3% lower than for the same period last year. Year-to-
date average revenue per-trip is $2.86.
Fiscal year-to-date traffic and revenue data are summarized in the table below. The following trip
and revenue statistics tables represent all trips taken on the 91 Express Lanes and associated
potential revenue for the months of July 2011 through October 2011.
FY 2011-12 to Date as of October 31, 2011
(FY 2011-12 data is for the period July 1, 2011 through October 31, 2011; FY 2010-11 data is for the corresponding period in that fiscal year.)
Trips
FY 2011-12
YTD
Actual
Stantec
YTD
Projected
#
Variance
%
Variance
FY 2010-11
YTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 3,020,741 3,034,929 (14,188)(0.5%)3,225,491 (6.3%)
3+ Lanes 977,342 1,042,800 (65,458)(6.3%)1,015,416 (3.7%)
Total Trips 3,998,083 4,077,729 (79,646)(2.0%)4,240,907 (5.7%)
Full Toll Lanes $11,156,833 $11,134,246 $22,586 0.2%$12,277,241 (9.1%)
3+ Lanes $296,581 $298,641 ($2,060)(0.7%)$349,071 (15.0%)
Total Revenue $11,453,414 $11,432,888 $20,526 0.2%$12,626,312 (9.3%)
Full Toll Lanes $3.69 $3.67 $0.02 0.5%$3.81 (3.1%)
3+ Lanes $0.30 $0.29 $0.01 3.4%$0.34 (11.8%)
Revenue Per Trip $2.86 $2.80 $0.06 2.1%$2.98 (4.0%)
4
. . . . . . . . .
Traffic and Revenue Summary
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2011-12 on a monthly basis.
724,753 793,176 745,803 757,185
271,673
255,204
224,985 225,500
175,000
350,000
525,000
700,000
875,000
1,050,000
1,225,000
1,400,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May -12 Jun -12
Vo
l
u
m
e
Month
FY 2011-12 Traffic Volume Overview
3+ Lanes Full Toll Lanes
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2011-12 on a monthly basis.
2,628,028
2,917,855
2,826,509
2,768,314
76,846
80,028
73,313
67,105
$2,500,000
$2,600,000
$2,700,000
$2,800,000
$2,900,000
$3,000,000
$3,100,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov -11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May -12 Jun -12
Re
v
e
n
u
e
Month
FY 2011-12 Revenue Summary
Full Toll Lanes 3+ Lanes
5
. . . . . . . . .
None of the peak traffic hour in the eastbound direction reached or exceeded 90% or more of
defined capacity during the month of October 2011. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 71% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 214 1,555 46%$4.15 193 1,536 45%$4.15 233 1,814 53%$4.25 220 1,847 54%$3.10 388 2,790 82%
1500 - 1600 $4.45 494 2,671 79%$3.70 459 2,451 72%$3.95 424 2,362 69%$5.45 501 2,538 75%$9.75 561 2,842 84%
1600 - 1700 $4.55 459 2,521 74%$6.80 448 2,517 74%$7.30 452 2,586 76%$8.95 477 2,592 76%$8.85 491 2,774 82%
1700 - 1800 $4.85 414 2,315 68%$6.25 437 2,511 74%$7.50 443 2,580 76%$8.80 418 2,409 71%$7.00 451 2,668 78%
1800 - 1900 $4.45 444 1,931 57%$3.60 422 2,074 61%$3.60 348 1,948 57%$4.40 431 2,163 64%$5.35 466 2,180 64%
1900 - 2000 $3.15 240 1,084 32%$3.15 269 1,162 34%$3.15 241 1,042 31%$4.55 284 1,352 40%$5.00 379 1,493 44%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 258 1,462 43%$4.15 208 1,543 45%$4.15 242 1,731 51%$4.25 241 1,932 57%$3.10 382 2,810 83%
1500 - 1600 $4.45 469 2,243 66%$3.70 469 2,513 74%$3.95 462 2,558 75%$5.45 518 2,731 80%$9.75 571 2,824 83%
1600 - 1700 $4.55 394 2,363 70%$6.80 469 2,513 74%$7.30 494 2,621 77%$8.95 475 2,679 79%$8.85 530 2,860 84%
1700 - 1800 $4.85 389 2,195 65%$6.25 408 2,459 72%$7.50 437 2,420 71%$8.80 417 2,531 74%$7.00 452 2,878 85%
1800 - 1900 $4.45 374 1,697 50%$3.60 472 2,215 65%$3.60 464 2,344 69%$4.40 490 2,637 78%$5.35 494 2,395 70%
1900 - 2000 $3.15 232 886 26%$3.15 312 1,304 38%$3.15 294 1,394 41%$4.55 330 1,850 54%$5.00 404 1,833 54%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 203 1,520 45%$4.15 223 1,614 47%$4.15 212 1,633 48%$4.25 235 1,980 58%$3.10 376 2,780 82%
1500 - 1600 $4.45 502 2,460 72%$3.70 484 2,471 73%$3.95 510 2,546 75%$5.45 473 2,673 79%$9.75 569 2,956 87%
1600 - 1700 $4.55 436 2,687 79%$6.80 449 2,651 78%$7.30 474 2,734 80%$8.95 494 2,864 84%$8.85 512 2,789 82%
1700 - 1800 $4.85 409 2,358 69%$6.25 443 2,525 74%$7.50 443 2,534 75%$8.80 495 2,742 81%$7.00 477 2,833 83%
1800 - 1900 $4.45 438 1,968 58%$3.60 479 2,364 70%$3.60 504 2,540 75%$4.40 419 2,161 64%$5.35 429 2,181 64%
1900 - 2000 $3.15 244 1,039 31%$3.15 309 1,376 40%$3.15 338 1,536 45%$4.55 427 2,042 60%$5.00 373 1,485 44%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 231 1,559 46%$4.15 200 1,575 46%$4.15 208 1,631 48%$4.25 236 1,875 55%$3.10 376 2,718 80%
1500 - 1600 $4.45 489 2,431 72%$3.70 461 2,489 73%$3.95 470 2,537 75%$5.45 497 2,665 78%$9.75 553 2,801 82%
1600 - 1700 $4.55 463 2,535 75%$6.80 449 2,561 75%$7.30 487 2,643 78%$8.95 487 2,730 80%$8.85 480 2,726 80%
1700 - 1800 $4.85 438 2,291 67%$6.25 408 2,396 70%$7.50 439 2,522 74%$8.80 461 2,565 75%$7.00 449 2,519 74%
1800 - 1900 $4.45 418 1,794 53%$3.60 456 2,191 64%$3.60 489 2,483 73%$4.40 479 2,383 70%$5.35 464 2,165 64%
1900 - 2000 $3.15 242 1,004 30%$3.15 278 1,200 35%$3.15 340 1,648 48%$4.55 340 1,551 46%$5.00 399 1,381 41%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 349 2,237 66%
1500 - 1600 $4.45 541 3,037 89%
1600 - 1700 $4.55 488 2,983 88%
1700 - 1800 $4.85 445 2,353 69%
1800 - 1900 $4.45 281 1,551 46%
1900 - 2000 $3.15 180 669 20%
Friday 11/04/11Thursday 11/03/11
Monday Tuesday Wednesday Thursday
Monday 10/31/11 Tuesday 11/01/11 Wednesday 11/02/11
10/07/1110/03/11 10/04/11 10/05/11 10/06/11 Friday
10/14/1110/10/11 10/11/11 10/12/11 10/13/11 FridayMonday Tuesday Wednesday Thursday
Monday Tuesday Wednesday Thursday 10/21/1110/17/11 10/18/11 10/19/11 10/20/11 Friday
Monday Tuesday Wednesday Thursday 10/28/1110/24/11 10/25/11 10/26/11 10/27/11 Friday
6
. . . . . . . . .
WESTBOUND PEAK-HOUR VOLUMES
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 213 530 16%$2.45 260 630 19%$2.45 228 573 17%$2.45 256 576 17%$2.45 218 545 16%
0500 - 0600 $4.00 476 1,684 50%$4.00 483 1,676 49%$4.00 448 1,691 50%$4.00 495 1,696 50%$3.85 455 1,609 47%
0600 - 0700 $4.15 549 2,108 62%$4.15 510 1,951 57%$4.15 576 2,199 65%$4.15 585 2,176 64%$4.00 543 2,050 60%
0700 - 0800 $4.60 477 2,252 66%$4.60 362 1,458 43%$4.60 383 2,036 60%$4.60 392 2,027 60%$4.45 408 1,887 56%
0800 - 0900 $4.15 238 1,818 53%$4.15 273 2,068 61%$4.15 162 1,303 38%$4.15 184 1,451 43%$4.00 177 1,233 36%
0900 - 1000 $3.30 146 1,127 33%$3.30 171 1,877 55%$3.30 135 1,148 34%$3.30 150 1,362 40%$3.30 163 1,010 30%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 226 580 17%$2.45 260 628 18%$2.45 257 624 18%$2.45 255 626 18%$2.45 228 556 16%
0500 - 0600 $4.00 451 1,621 48%$4.00 453 1,580 46%$4.00 472 1,774 52%$4.00 481 1,625 48%$3.85 462 1,638 48%
0600 - 0700 $4.15 525 2,058 61%$4.15 512 2,015 59%$4.15 620 2,260 66%$4.15 546 2,078 61%$4.00 587 2,103 62%
0700 - 0800 $4.60 376 1,904 56%$4.60 507 2,350 69%$4.60 460 2,261 67%$4.60 493 2,414 71%$4.45 408 1,962 58%
0800 - 0900 $4.15 220 1,359 40%$4.15 248 2,081 61%$4.15 230 1,920 56%$4.15 260 1,995 59%$4.00 211 1,392 41%
0900 - 1000 $3.30 140 995 29%$3.30 169 1,726 51%$3.30 165 1,411 42%$3.30 149 1,406 41%$3.30 149 1,069 31%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 237 631 19%$2.45 261 640 19%$2.45 228 523 15%$2.45 276 619 18%$2.45 223 561 17%
0500 - 0600 $4.00 492 1,758 52%$4.00 493 1,705 50%$4.00 482 1,657 49%$4.00 481 1,764 52%$3.85 480 1,655 49%
0600 - 0700 $4.15 568 2,150 63%$4.15 572 2,293 67%$4.15 598 2,218 65%$4.15 606 2,251 66%$4.00 534 2,019 59%
0700 - 0800 $4.60 461 2,129 63%$4.60 517 2,336 69%$4.60 478 2,286 67%$4.60 486 2,265 67%$4.45 394 1,789 53%
0800 - 0900 $4.15 211 1,790 53%$4.15 273 1,984 58%$4.15 241 1,950 57%$4.15 223 1,791 53%$4.00 191 1,278 38%
0900 - 1000 $3.30 147 1,248 37%$3.30 143 1,399 41%$3.30 164 1,400 41%$3.30 167 1,176 35%$3.30 153 1,046 31%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 239 662 19%$2.45 249 597 18%$2.45 257 601 18%$2.45 260 632 19%$2.45 226 583 17%
0500 - 0600 $4.00 486 1,786 53%$4.00 476 1,718 51%$4.00 457 1,651 49%$4.00 531 1,778 52%$3.85 469 1,641 48%
0600 - 0700 $4.15 587 2,200 65%$4.15 570 2,264 67%$4.15 571 2,135 63%$4.15 565 2,141 63%$4.00 564 2,111 62%
0700 - 0800 $4.60 487 2,231 66%$4.60 473 2,199 65%$4.60 492 2,355 69%$4.60 477 2,304 68%$4.45 385 1,815 53%
0800 - 0900 $4.15 196 1,664 49%$4.15 180 1,638 48%$4.15 191 1,900 56%$4.15 228 1,973 58%$4.00 185 1,234 36%
0900 - 1000 $3.30 145 1,163 34%$3.30 143 1,294 38%$3.30 133 1,198 35%$3.30 168 1,467 43%$3.30 142 998 29%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 307 1,012 30%
0500 - 0600 $4.00 495 1,832 54%
0600 - 0700 $4.15 541 2,179 64%
0700 - 0800 $4.60 386 1,993 59%
0800 - 0900 $4.15 172 1,493 44%
0900 - 1000 $3.30 109 883 26%
Friday
10/14/11Friday
10/28/11Friday
10/21/11
Monday 10/31/11 Tuesday 11/01/11 Friday 11/04/11Wednesday 11/02/11 Thursday 11/03/11
Monday Tuesday Wednesday Thursday 10/03/11 10/04/11 10/05/11
Monday Tuesday Wednesday Thursday10/10/11 10/11/11 10/12/11 10/13/11
10/07/1110/06/11
Monday Tuesday Wednesday Thursday10/17/11 10/18/11 10/19/11 Friday
10/27/11Monday Tuesday Wednesday Thursday 10/24/11 10/25/11 10/26/11
10/20/11
Transponder Distribution Status
7
. . . . . . . . .
Tags % of Total Tags % of Total
Issued
To New Accounts 650 37.4%592 30.0%642 34.4%
Additional Tags to Existing Accounts 352 20.2%411 20.8%402 21.5%
Replacement Transponders 737 42.4%969 49.1%825 44.1%
Total Issued 1,739 1,972 1,868
Returned
Account Closures 691 38.8%438 31.1%544 36.3%
Accounts Downsizing 165 9.3%152 10.8%154 10.3%
Defective Transponders 924 51.9%820 58.2%802 53.4%
Total Returned 1,780 1,410 1,500
Average To-Date
FY 2011-12TRANSPONDER DISTRIBUTION October-11 September-11
At the end of October 2011, the 91 Express Lanes had 113,186 active customer accounts, with
168,477 transponders assigned to those accounts.
TRANSPONDER INVENTORY STATUS Internal External Total
Available for Distribution:5,288 26 5,314
Customer-Returned Tag Classification
1. Under Warranty - will Return to Sirit:0
2. Out of Warranty - will Destroy:1,004
3. Not yet Classified:2,678
8,996
168,477
TRANSPONDERS ON-HAND:
Total Transponders On-hand:
Transponders Currently Assigned to Accounts:
October 2011
Number of Accounts by Fiscal Year
As of October 31, 2011
97,001 98,569 100,528
106,280
113,263
118,416 119,992 117,888 114,556 114,138 112,584 113,186
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Fiscal Year
8
. . . . . . . . .
Operational Highlights
On-road Operations
Customer Assistance Specialists (CAS) responded to 71 calls during October. The CAS team
received 52 calls to assist disabled vehicles, 6 calls to remove debris and conducted 10 assists or
traffic breaks. The CAS provided assistance to 2 accidents in the Express Lanes and 1 accident
in the general-purpose lanes.
Revenue and Account Management System
In October, staff issued a request for proposal for a firm to conduct a systems performance audit
on the Revenue and Account Management Software (RAMS), the back office software system
for electronic toll collection and customer account management for the 91 Express Lanes.
RAMS was installed on the 91 Express Lanes network in June 2011.
Due to issues that surfaced with the new system since implementation, the Board of Directors
requested staff obtain an independent third-party to review financial transactions for the new
back-office system. These issues which have since been resolved, included incorrect time stamp
which led to incorrect tolls being charged, trips being incorrectly rejected and incorrect postings
which overstated revenues by approximately $871,000 for the months of June through August
and were subsequently adjusted in October and reflected in the year-to-date figures as provided
in the Operating Statement.
The systems performance audit will verify toll transactions are correctly being captured in the
back-office system and appropriately posted to customer or violation accounts and will also
assess the financial and system controls and the fiscal integrity of the RAMS system
Gantry Relocation Project
One of the projects identified in the State Route (SR) 91 Implementation Plan is the SR-91
Westbound and Eastbound Lane Addition Project which adds a fifth general purpose lane in
both the westbound and eastbound direction between the SR-55 and SR-241. Given that the
current gantries span across the toll lanes and the general purpose lanes, the gantries will
need to be torn down in order to accommodate the fifth general purpose lanes. Caltrans will be
constructing and installing new cantilever gantries approximately two hundred feet from where
the current gantries are located. As such, the Electronic Toll and Traffic Management system
equipment will need to be relocated onto the new gantries. Staff has been meeting with
Caltrans and other vendors to address concerns and to mitigate impacts to the 91 Express
Lanes’ operation.
9
. . . . . . . . .
Financial Highlights
91 Express Lanes
Operating Statement
Description Actual (1)Budget (1)Dollar $Percent (%)
Operating revenues:
Toll revenue 10,593,541.05 11,359,000.00$ (765,458.95)$ (6.7)
Fee revenue 2,047,064.74 1,729,246.00 317,818.74 18.4
Total operating revenues 12,640,605.79 13,088,246.00 (447,640.21) (3.4)
Operating expenses:
Contracted services 2,419,404.88 2,769,752.00 350,347.12 12.6
Administrative fee 568,400.88 767,876.00 199,475.12 26.0
Other professional services 57,693.91 477,506.00 419,812.09 87.9
Credit card processing fees 329,490.18 376,122.00 46,631.82 12.4
Toll road account servicing 79,367.92 351,564.00 272,196.08 77.4
Other insurance expense 102,809.50 83,250.00 (19,559.50) (23.5)
Toll road maintenance supply repairs 53,637.41 88,245.00 34,607.59 39.2
Patrol services 121,672.25 133,200.00 11,527.75 8.7
Equipment repairs and maint 90,621.36 215,366.00 124,744.64 57.9
Other services 9,249.81 34,450.00 25,200.19 73.2
Advertising fees - - - N/A
Utilities 5,330.65 5,994.00 663.35 11.1
Office expense 19,820.65 51,864.00 32,043.35 61.8
Bad debt expense 3,235.86 - (3,235.86) N/A
Miscellaneous (2)51,880.73 79,687.00 27,806.27 34.9
Leases 108,767.70 138,195.00 29,427.30 21.3
Property taxes - - - N/A
Total operating expenses 4,021,383.69 5,573,071.00 1,551,687.31 27.8
Depreciation and amortization (3)2,869,307.13 - (2,869,307.13) N/A
Operating income (loss)5,749,914.97 7,515,175.00 (1,765,260.03) (23.5)
Nonoperating revenues (expenses):
Interest income 191,734.86 497,068.00 (305,333.14) (61.4)
Interest expense (2,180,939.82) (2,215,376.00) 34,436.18 1.6
Other 26,889.80 - 26,889.80 N/A
Total nonoperating revenues (expenses)(1,962,315.16) (1,718,308.00) (244,007.16) (14.2)
Transfers in - - - N/A
Transfers out (98,908.94) - (98,908.94) N/A
Net income (loss)3,688,690.87$ 5,796,867.00$ (2,108,176.13)$ (36.4)
¹Actual 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.
²Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
³Depreciation and amortization are not budgeted items.
YTD as of October 31, 2011 YTD Variance
Capital Asset Activity
During the four months ending October 31, 2011, capital asset activities included approximately
$101,102 for the purchase of transponders.
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Attachment E
ATTACHMENT E
Orange County Transportation Authority
SSttaattuuss RReeppoorrtt
NNoovveemmbbeerr 22001111
As of November 30, 2011
2
. . . . . . . . .
Operations Overview
Traffic and Revenue Statistics
Total traffic volume on the 91 Express Lanes for November 2011 was 937,199. This represents
a daily average of 31,240. This is a 7.4% decrease in total traffic volume from the same period
last year when traffic levels totaled 1,011,568. Potential toll revenue for the month was
$2,701,647 which represents a decrease of 9.9% from the prior year’s total of $2,997,208.
Carpool percentage for the month was 24.1% as compared to the previous year’s rate of 23.7%.
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 November 2011.
Current Month-to-Date (MTD) as of November 30, 2011
(Fiscal Year (FY) 2011-12 data is for the corresponding month in that fiscal year)
Trips
Nov-11
MTD
Actual
Stantec
MTD
Projected
#
Variance
%
Variance
Nov-10
MTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 711,450 730,599 (19,149)(2.6%)772,009 (7.8%)
3+ Lanes 225,749 263,286 (37,537)(14.3%)239,559 (5.8%)
Total Gross Trips 937,199 993,885 (56,686)(5.7%)1,011,568 (7.4%)
Revenue
Full Toll Lanes $2,638,808 $2,560,769 $78,039 3.0%$2,921,790 (9.7%)
3+ Lanes $62,838 $63,328 ($490)(0.8%)$75,418 (16.7%)
Total Gross Revenue $2,701,647 $2,624,098 $77,549 3.0%$2,997,208 (9.9%)
Average Revenue per Trip
Average Full Toll Lanes $3.71 $3.51 $0.20 5.7%$3.78 (1.9%)
Average 3+ Lanes $0.28 $0.24 $0.04 16.7%$0.31 (9.7%)
Average Revenue Per Trip $2.88 $2.64 $0.24 9.1%$2.96 (2.7%)
3
. . . . . . . . .
The 2012 fiscal year-to-date (YTD) traffic volume is 6% lower than the same period last year.
The 2012 fiscal year-to-date revenue is 9.4% lower than for the same period last year. Year-to-
date average revenue per-trip is $2.87.
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 2011 through November 2011.
FY 2011-12 to Date as of November 30, 2011
(FY 2011-12 data is for the period July 1, 2011 through November 30, 2011; FY 2010-11 data is for the corresponding period in that fiscal year.)
Trips
FY 2011-12
YTD
Actual
Stantec
YTD
Projected
#
Variance
%
Variance
FY 2010-11
YTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 3,732,191 3,765,528 (33,337)(0.9%)3,997,500 (6.6%)
3+ Lanes 1,203,091 1,306,086 (102,995)(7.9%)1,254,975 (4.1%)
Total Trips 4,935,282 5,071,614 (136,332)(2.7%)5,252,475 (6.0%)
Full Toll Lanes $13,795,641 $13,695,016 $100,626 0.7%$15,199,030 (9.2%)
3+ Lanes $359,419 $361,970 ($2,551)(0.7%)$424,489 (15.3%)
Total Revenue $14,155,060 $14,056,985 $98,075 0.7%$15,623,520 (9.4%)
Full Toll Lanes $3.70 $3.64 $0.06 1.6%$3.80 (2.6%)
3+ Lanes $0.30 $0.28 $0.02 7.1%$0.34 (11.8%)
Revenue Per Trip $2.87 $2.77 $0.10 3.6%$2.97 (3.4%)
4
. . . . . . . . .
Traffic and Revenue Summary
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2011-12 on a monthly basis.
724,753 793,176 745,803 757,185 711,450
271,673
255,204
224,985 225,500 225,749
175,000
350,000
525,000
700,000
875,000
1,050,000
1,225,000
1,400,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec -11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Vo
l
u
m
e
Month
FY 2011-12 Traffic Volume Overview
3+ Lanes Full Toll Lanes
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2011-12 on a monthly basis.
2,628,028
2,917,855
2,826,509
2,768,314
2,638,808
76,846
80,028
73,313
67,105
62,838
$2,500,000
$2,600,000
$2,700,000
$2,800,000
$2,900,000
$3,000,000
$3,100,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Re
v
e
n
u
e
Month
FY 2011-12 Revenue Summary
Full Toll Lanes 3+ Lanes
5
. . . . . . . . .
None of the peak traffic hour in the eastbound direction reached or exceeded 90% or more of
defined capacity during the month of November 2011. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 69% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 288 1,886 55%$4.15 197 1,643 48%$4.25 243 1,868 55%$3.10 347 2,691 79%
1500 - 1600 $3.70 484 2,398 71%$3.95 528 2,560 75%$5.45 507 2,651 78%$9.75 536 2,774 82%
1600 - 1700 $6.80 360 1,792 53%$7.30 478 2,575 76%$8.95 496 2,682 79%$8.85 394 2,566 75%
1700 - 1800 $6.25 412 2,480 73%$7.50 438 2,554 75%$8.80 459 2,577 76%$7.00 396 2,339 69%
1800 - 1900 $3.60 462 2,191 64%$3.60 448 2,295 68%$4.40 519 2,451 72%$5.35 408 1,825 54%
1900 - 2000 $3.15 317 1,295 38%$3.15 285 1,260 37%$4.55 283 1,454 43%$5.00 301 1,192 35%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 212 1,825 54%$4.15 231 1,785 53%$4.15 236 2,102 62%$4.25 332 2,133 63%$3.10 382 2,212 65%
1500 - 1600 $4.45 447 2,715 80%$3.70 485 2,648 78%$3.95 479 2,738 81%$5.45 621 3,025 89%$9.75 475 2,104 62%
1600 - 1700 $4.55 458 2,834 83%$6.80 517 2,727 80%$7.30 486 2,676 79%$8.95 547 2,712 80%$8.85 430 2,075 61%
1700 - 1800 $4.85 477 2,677 79%$6.25 419 2,304 68%$7.50 506 2,705 80%$8.80 645 2,990 88%$7.00 409 1,889 56%
1800 - 1900 $4.45 504 2,387 70%$3.60 543 2,733 80%$3.60 483 2,401 71%$4.40 575 2,776 82%$5.35 438 1,627 48%
1900 - 2000 $3.15 226 1,075 32%$3.15 265 1,374 40%$3.15 353 1,517 45%$4.55 500 2,002 59%$5.00 363 1,051 31%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 240 1,581 47%$4.15 201 1,605 47%$4.15 241 1,736 51%$4.25 247 1,957 58%$3.10 371 2,584 76%
1500 - 1600 $4.45 453 2,272 67%$3.70 445 2,678 79%$3.95 449 2,581 76%$5.45 463 2,630 77%$9.75 614 2,836 83%
1600 - 1700 $4.55 442 2,525 74%$6.80 462 2,583 76%$7.30 480 2,883 85%$8.95 470 2,689 79%$8.85 452 2,692 79%
1700 - 1800 $4.85 466 2,419 71%$6.25 506 2,598 76%$7.50 512 2,578 76%$8.80 494 2,583 76%$7.00 522 2,624 77%
1800 - 1900 $4.45 411 1,940 57%$3.60 481 2,405 71%$3.60 445 2,371 70%$4.40 509 2,458 72%$5.35 490 2,333 69%
1900 - 2000 $3.15 284 1,142 34%$3.15 298 1,276 38%$3.15 347 1,593 47%$4.55 321 1,474 43%$5.00 380 1,675 49%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 273 1,535 45%$4.15 348 1,975 58%$6.00 529 2,936 86%$4.25 450 1,307 38%$4.00 296 904 27%
1500 - 1600 $4.45 516 2,233 66%$3.70 572 2,883 85%$6.95 584 2,865 84%$4.00 370 969 29%$4.00 345 1,014 30%
1600 - 1700 $4.55 493 2,592 76%$6.80 559 2,836 83%$6.95 519 2,860 84%$4.00 406 920 27%$4.00 305 926 27%
1700 - 1800 $4.85 487 2,552 75%$6.25 569 2,828 83%$6.95 588 2,660 78%$4.00 519 1,119 33%$4.00 344 928 27%
1800 - 1900 $4.45 510 2,262 67%$3.60 629 2,787 82%$4.95 519 2,010 59%$4.25 609 1,231 36%$4.00 284 724 21%
1900 - 2000 $3.15 320 1,220 36%$3.15 547 2,384 70%$4.70 419 1,432 42%$4.25 757 1,480 44%$4.00 259 571 17%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 207 1,524 45%$4.15 221 1,623 48%$4.15 215 1,658 49%
1500 - 1600 $4.45 478 2,359 69%$3.70 480 2,478 73%$3.95 450 2,470 73%
1600 - 1700 $4.55 458 2,592 76%$6.80 452 2,509 74%$7.30 481 2,757 81%
1700 - 1800 $4.85 459 2,478 73%$6.25 488 2,511 74%$7.50 521 2,635 78%
1800 - 1900 $4.45 202 898 26%$3.60 507 2,337 69%$3.60 495 2,422 71%
1900 - 2000 $3.15 382 1,856 55%$3.15 311 1,329 39%$3.15 311 1,467 43%
11/25/1111/21/11 11/22/11 11/23/11 11/24/11 Friday Tuesday Wednesday Thursday
11/18/1111/14/11 11/15/11 11/16/11 11/17/11 FridayTuesdayWednesdayThursday
11/09/11 11/10/11 FridayMonday Tuesday Wednesday Thursday 11/11/1111/07/11 11/08/11
Wednesday Thursday 11/04/1110/31/11 11/01/11 11/02/11 11/03/11 Friday
Monday 11/28/11 Tuesday 11/29/11
Monday Tuesday
Monday
Monday
Wednesday 11/30/11 Thursday 12/01/11 Friday 12/02/11
6
. . . . . . . . .
WESTBOUND PEAK-HOUR VOLUMES
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 350 1,111 33%$2.45 278 656 19%$2.45 252 585 17%$2.45 222 548 16%
0500 - 0600 $4.00 515 1,947 57%$4.00 489 1,778 52%$4.00 504 1,778 52%$3.85 450 1,680 49%
0600 - 0700 $4.15 574 2,292 67%$4.15 597 2,288 67%$4.15 607 2,347 69%$4.00 500 2,072 61%
0700 - 0800 $4.60 419 2,105 62%$4.60 462 2,212 65%$4.60 453 2,117 62%$4.45 335 1,805 53%
0800 - 0900 $4.15 163 1,621 48%$4.15 203 1,837 54%$4.15 207 1,631 48%$4.00 199 1,604 47%
0900 - 1000 $3.30 121 1,162 34%$3.30 155 1,610 47%$3.30 139 1,179 35%$3.30 121 1,113 33%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 238 661 19%$2.45 259 636 19%$2.45 272 691 20%$2.45 271 653 19%$2.45 168 412 12%
0500 - 0600 $4.00 492 1,777 52%$4.00 486 1,686 50%$4.00 503 1,780 52%$4.00 512 1,845 54%$3.85 325 1,139 34%
0600 - 0700 $4.15 517 2,284 67%$4.15 581 2,274 67%$4.15 567 2,353 69%$4.15 568 2,297 68%$4.00 267 1,100 32%
0700 - 0800 $4.60 437 2,149 63%$4.60 443 2,339 69%$4.60 454 2,207 65%$4.60 480 2,231 66%$4.45 236 999 29%
0800 - 0900 $4.15 202 1,805 53%$4.15 224 1,911 56%$4.15 212 1,839 54%$4.15 261 1,488 44%$4.00 191 953 28%
0900 - 1000 $3.30 157 1,322 39%$3.30 136 1,478 43%$3.30 180 1,354 40%$3.30 266 1,258 37%$3.30 259 991 29%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 254 663 20%$2.45 285 629 19%$2.45 265 657 19%$2.45 287 678 20%$2.45 234 600 18%
0500 - 0600 $4.00 494 1,834 54%$4.00 478 1,809 53%$4.00 515 1,786 53%$4.00 506 1,775 52%$3.85 466 1,615 48%
0600 - 0700 $4.15 512 2,140 63%$4.15 573 2,257 66%$4.15 599 2,324 68%$4.15 560 2,361 69%$4.00 535 2,085 61%
0700 - 0800 $4.60 422 1,918 56%$4.60 477 2,239 66%$4.60 456 2,205 65%$4.60 469 2,177 64%$4.45 390 1,876 55%
0800 - 0900 $4.15 212 1,599 47%$4.15 210 1,785 53%$4.15 210 1,711 50%$4.15 218 1,773 52%$4.00 179 1,347 40%
0900 - 1000 $3.30 151 1,518 45%$3.30 130 1,159 34%$3.30 154 1,181 35%$3.30 159 1,222 36%$3.30 161 1,044 31%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 223 638 19%$2.45 243 579 17%$2.45 217 542 16%$1.30 14 31 1%$1.30 30 87 3%
0500 - 0600 $4.00 433 1,593 47%$4.00 479 1,703 50%$4.15 456 1,638 48%$1.30 30 68 2%$1.30 70 231 7%
0600 - 0700 $4.15 494 2,255 66%$4.15 471 1,841 54%$4.25 431 1,856 55%$1.30 23 51 2%$2.10 72 268 8%
0700 - 0800 $4.60 400 2,003 59%$4.60 419 1,916 56%$4.70 317 1,337 39%$1.30 41 100 3%$2.45 84 298 9%
0800 - 0900 $4.15 271 1,610 47%$4.15 312 1,638 48%$4.70 234 1,051 31%$1.30 92 259 8%$2.45 118 363 11%
0900 - 1000 $3.30 295 1,345 40%$3.30 280 1,281 38%$4.25 242 978 29%$2.10 207 459 14%$3.15 167 485 14%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 240 662 19%$2.45 267 628 18%$2.45 270 629 19%
0500 - 0600 $4.00 510 1,811 53%$4.00 508 1,803 53%$4.00 506 1,867 55%
0600 - 0700 $4.15 533 2,263 67%$4.15 579 2,208 65%$4.15 588 2,211 65%
0700 - 0800 $4.60 451 2,083 61%$4.60 464 2,231 66%$4.60 442 2,219 65%
0800 - 0900 $4.15 205 1,496 44%$4.15 216 1,625 48%$4.15 187 1,815 53%
0900 - 1000 $3.30 140 1,024 30%$3.30 140 1,149 34%$3.30 135 1,216 36%
Monday Tuesday Wednesday Thursday 11/21/11 11/22/11 11/23/11
11/04/1111/03/11
Monday Tuesday Wednesday Thursday11/14/11 11/15/11 11/16/11 Friday
Monday Tuesday Wednesday Thursday11/07/11 11/08/11 11/09/11
Monday Tuesday Wednesday Thursday 10/31/11 11/01/11 11/02/11
Thursday 12/01/11
11/10/11
11/24/11
11/17/11
Monday 11/28/11 Tuesday 11/29/11 Wednesday 11/30/11 Friday 12/02/11
Friday
11/11/11Friday
11/25/11Friday
11/18/11
7
. . . . . . . . .
Transponder Distribution Status
Tags % of Total Tags % of Total
Issued
To New Accounts 629 35.8%650 37.4%799 34.6%
Additional Tags to Existing Accounts 400 22.8%352 20.2%501 21.7%
Replacement Transponders 726 41.4%737 42.4%1,007 43.7%
Total Issued 1,755 1,739 2,307
Returned
Account Closures 380 35.1%691 38.8%639 36.1%
Accounts Downsizing 107 9.9%165 9.3%181 10.2%
Defective Transponders 596 55.0%924 51.9%951 53.7%
Total Returned 1,083 1,780 1,771
Average To-Date
FY 2011-12TRANSPONDER DISTRIBUTION November-11 October-11
At the end of November 2011, the 91 Express Lanes had 112,045 active customer accounts,
with 168,769 transponders assigned to those accounts.
TRANSPONDER INVENTORY STATUS Internal External Total
Available for Distribution:8,915 15 8,930
Customer-Returned Tag Classification
1. Under Warranty - will Return to Sirit:0
2. Out of Warranty - will Destroy:2,669
3. Not yet Classified:1,792
13,391
168,769
TRANSPONDERS ON-HAND:
Total Transponders On-hand:
Transponders Currently Assigned to Accounts:
November 2011
Number of Accounts by Fiscal Year
As of November 30, 2011
97,001 98,569 100,528
106,280
113,263
118,416 119,992 117,888 114,556 114,138 112,584 112,045
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Fiscal Year
8
. . . . . . . . .
Operational Highlights
On-road Operations
Customer Assistance Specialists (CAS) responded to 96 calls during November. The CAS team
received 63 calls to assist disabled vehicles, 8 calls to remove debris and conducted 16 assists or
traffic breaks. The CAS provided assistance to 5 accidents in the Express Lanes and 4 accidents
in the general-purpose lanes.
9
. . . . . . . . .
Financial Highlights
91 Express Lanes
Operating Statement
Description Actual (1)Budget (1)Dollar $Percent (%)
Operating revenues:
Toll revenue 13,075,934.25 14,201,398.00$ (1,125,463.75)$ (7.9)
Fee revenue 2,540,412.59 2,246,438.00 293,974.59 13.1
Total operating revenues 15,616,346.84 16,447,836.00 (831,489.16) (5.1)
Operating expenses:
Contracted services 2,999,256.10 3,385,053.00 385,796.90 11.4
Administrative fee 710,501.10 959,845.00 249,343.90 26.0
Other professional services 200,787.90 539,181.00 338,393.10 62.8
Credit card processing fees 391,764.91 469,870.00 78,105.09 16.6
Toll road account servicing 87,651.21 439,191.00 351,539.79 80.0
Other insurance expense 128,511.87 104,000.00 (24,511.87) (23.6)
Toll road maintenance supply repairs 71,511.89 110,240.00 38,728.11 35.1
Patrol services 152,610.80 166,400.00 13,789.20 8.3
Building equipment repairs and maint 150,797.42 269,898.00 119,100.58 44.1
Other services 11,000.06 45,625.00 34,624.94 75.9
Advertising fees - - - N/A
Utilities 6,696.73 7,488.00 791.27 10.6
Office expense 24,540.95 64,791.00 40,250.05 62.1
Bad debt expense 3,523.11 - (3,523.11) N/A
Miscellaneous (2)65,873.92 99,214.00 33,340.08 33.6
Leases 161,572.02 172,640.00 11,067.98 6.4
Property taxes - - - N/A
Total operating expenses 5,166,599.99 6,833,436.00 1,666,836.01 24.4
Depreciation and amortization (3)3,583,222.32 - (3,583,222.32) N/A
Operating income (loss)6,866,524.53 9,614,400.00 (2,747,875.47) (28.6)
Nonoperating revenues (expenses):
Federal assistance grants - - - N/A
Interest income 230,741.76 716,701.00 (485,959.24) (67.8)
Interest expense (2,715,408.94) (2,762,572.00) 47,163.06 1.7
Other 71,824.02 - 71,824.02 N/A
Total nonoperating revenues (expenses)(2,412,843.16) (2,045,871.00) (366,972.16) (17.9)
Transfers in - - - N/A
Transfers out (98,908.94) - (98,908.94) N/A
Net income (loss)4,354,772.43$ 7,568,529.00$ (3,213,756.57)$ (42.5)
¹Actual 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.
²Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
³Depreciation and amortization are not budgeted items.
YTD as of November 30, 2011 YTD Variance
Capital Asset Activity
During the five months ending November 30, 2011, capital asset activities included approximately
$208,355 for the purchase of transponders.
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Attachment F
ATTACHMENT F
Orange County Transportation Authority
SSttaattuuss RReeppoorrtt
DDeecceemmbbeerr 22001111
As of December 31, 2011
2
. . . . . . . . .
Operations Overview
Traffic and Revenue Statistics
Total traffic volume on the 91 Express Lanes for December 2011 was 994,639. This represents
a daily average of 32,085. This is a 4.7% decrease in total traffic volume from the same period
last year when traffic levels totaled 1,044,027. Potential toll revenue for the month was
$2,836,148 which represents a decrease of 7.2% from the prior year’s total of $3,055,211.
Carpool percentage for the month was 25.2% as compared to the previous year’s rate of 24.9%.
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 December 2011.
Current Month-to-Date (MTD) as of December 31, 2011
(Fiscal Year (FY) 2011-12 data is for the corresponding month in that fiscal year)
Trips
Dec-11
MTD
Actual
Stantec
MTD
Projected
#
Variance
%
Variance
Dec-10
MTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 743,688 742,972 716 0.1%784,009 (5.1%)
3+ Lanes 250,951 273,214 (22,263)(8.1%)260,018 (3.5%)
Total Gross Trips 994,639 1,016,186 (21,547)(2.1%)1,044,027 (4.7%)
Revenue
Full Toll Lanes $2,762,232 $2,693,152 $69,081 2.6%$2,969,636 (7.0%)
3+ Lanes $73,916 $72,304 $1,612 2.2%$85,575 (13.6%)
Total Gross Revenue $2,836,148 $2,765,456 $70,692 2.6%$3,055,211 (7.2%)
Average Revenue per Trip
Average Full Toll Lanes $3.71 $3.62 $0.09 2.5%$3.79 (2.1%)
Average 3+ Lanes $0.29 $0.26 $0.03 11.5%$0.33 (12.1%)
Average Revenue Per Trip $2.85 $2.72 $0.13 4.8%$2.93 (2.7%)
3
. . . . . . . . .
The 2012 fiscal year-to-date (YTD) traffic volume is 5.8% lower than the same period last year.
The 2012 fiscal year-to-date revenue is 9% lower than for the same period last year. Year-to-
date average revenue per-trip is $2.87 and 4% higher than Stantec’s projections.
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 2011 through December 2011.
FY 2011-12 to Date as of December 31, 2011
(FY 2011-12 data is for the period July 1, 2011 through December 31, 2011; FY 2010-11 data is for the corresponding period in that fiscal year.)
Trips
FY 2011-12
YTD
Actual
Stantec
YTD
Projected
#
Variance
%
Variance
FY 2010-11
YTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 4,475,879 4,508,500 (32,621)(0.7%)4,781,509 (6.4%)
3+ Lanes 1,454,042 1,579,300 (125,258)(7.9%)1,514,993 (4.0%)
Total Trips 5,929,921 6,087,800 (157,879)(2.6%)6,296,502 (5.8%)
Full Toll Lanes $16,557,874 $16,388,167 $169,706 1.0%$18,168,667 (8.9%)
3+ Lanes $433,335 $434,274 ($939)(0.2%)$510,065 (15.0%)
Total Revenue $16,991,208 $16,822,441 $168,767 1.0%$18,678,731 (9.0%)
Full Toll Lanes $3.70 $3.63 $0.07 1.9%$3.80 (2.6%)
3+ Lanes $0.30 $0.27 $0.03 11.1%$0.34 (11.8%)
Revenue Per Trip $2.87 $2.76 $0.11 4.0%$2.97 (3.4%)
Traffic and Revenue Summary
4
. . . . . . . . .
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2011-12 on a monthly basis.
724,753 793,176 745,803 757,185 711,450 743,688
271,673
255,204
224,985 225,500 225,749 250,951
175,000
350,000
525,000
700,000
875,000
1,050,000
1,225,000
1,400,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec -11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Vo
l
u
m
e
Month
FY 2011-12 Traffic Volume Overview
3+ Lanes Full Toll Lanes
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2011-12 on a monthly basis.
2,628,028
2,917,855
2,826,509
2,768,314
2,638,808
2,762,232
76,846
80,028
73,313
67,105
62,838
73,916
$2,500,000
$2,600,000
$2,700,000
$2,800,000
$2,900,000
$3,000,000
$3,100,000
Jul -11 Aug -11 Sep -11 Oct-11 Nov-11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Re
v
e
n
u
e
Month
FY 2011-12 Revenue Summary
Full Toll Lanes 3+ Lanes
5
. . . . . . . . .
None of the peak traffic hour in the eastbound direction reached or exceeded 90% or more of
defined capacity during the month of December 2011. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 70% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.25 239 1,828 54%$3.10 351 2,667 78%
1500 - 1600 $5.45 458 2,424 71%$9.75 583 2,877 85%
1600 - 1700 $8.95 439 2,703 80%$8.85 517 2,870 84%
1700 - 1800 $8.80 518 2,688 79%$7.00 436 2,500 74%
1800 - 1900 $4.40 468 2,371 70%$5.35 429 2,104 62%
1900 - 2000 $4.55 321 1,501 44%$5.00 379 1,501 44%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 216 1,524 45%$4.15 216 1,765 52%$4.15 202 1,704 50%$4.25 249 1,818 53%$3.10 319 2,637 78%
1500 - 1600 $4.45 484 2,406 71%$3.70 473 2,628 77%$3.95 464 2,616 77%$5.45 471 2,675 79%$9.75 531 2,826 83%
1600 - 1700 $4.55 457 2,549 75%$6.80 457 2,649 78%$7.30 471 2,750 81%$8.95 463 2,795 82%$8.85 506 2,949 87%
1700 - 1800 $4.85 419 2,436 72%$6.25 519 2,714 80%$7.50 491 2,563 75%$8.80 560 2,860 84%$7.00 509 2,701 79%
1800 - 1900 $4.45 500 2,371 70%$3.60 493 2,523 74%$3.60 558 2,740 81%$4.40 494 2,569 76%$5.35 490 2,265 67%
1900 - 2000 $3.15 278 1,128 33%$3.15 291 1,424 42%$3.15 312 1,477 43%$4.55 357 1,764 52%$5.00 375 1,535 45%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 175 1,523 45%$4.15 169 1,575 46%$4.15 198 1,698 50%$4.25 259 2,138 63%$3.10 380 2,741 81%
1500 - 1600 $4.45 396 2,236 66%$3.70 449 2,437 72%$3.95 434 2,721 80%$5.45 449 2,721 80%$9.75 532 2,726 80%
1600 - 1700 $4.55 429 2,524 74%$6.80 447 2,492 73%$7.30 464 2,605 77%$8.95 488 2,733 80%$8.85 487 2,958 87%
1700 - 1800 $4.85 415 2,456 72%$6.25 465 2,558 75%$7.50 474 2,549 75%$8.80 550 2,979 88%$7.00 515 2,918 86%
1800 - 1900 $4.45 401 1,985 58%$3.60 449 2,206 65%$3.60 488 2,524 74%$4.40 548 3,025 89%$5.35 474 2,377 70%
1900 - 2000 $3.15 231 955 28%$3.15 262 1,146 34%$3.15 348 1,645 48%$4.55 452 2,471 73%$5.00 424 1,926 57%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 299 2,291 67%$4.15 283 1,948 57%$4.15 315 1,853 55%$4.25 354 2,206 65%$3.10 455 2,472 73%
1500 - 1600 $4.45 529 3,003 88%$3.70 496 2,722 80%$3.95 563 2,739 81%$5.45 561 2,915 86%$9.75 478 2,076 61%
1600 - 1700 $4.55 456 2,610 77%$6.80 502 2,958 87%$7.30 547 2,902 85%$8.95 486 2,775 82%$8.85 374 1,718 51%
1700 - 1800 $4.85 530 2,717 80%$6.25 540 2,768 81%$7.50 566 2,788 82%$8.80 547 2,637 78%$7.00 338 1,505 44%
1800 - 1900 $4.45 499 2,177 64%$3.60 528 2,524 74%$3.60 541 2,551 75%$4.40 519 2,264 67%$5.35 360 1,158 34%
1900 - 2000 $3.15 290 1,172 34%$3.15 413 1,797 53%$3.15 429 1,551 46%$4.55 405 1,489 44%$5.00 337 933 27%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.00 288 868 26%$4.15 346 1,605 47%$4.15 320 1,780 52%$4.25 354 1,780 52%$3.10 444 2,133 63%
1500 - 1600 $4.00 349 990 29%$3.70 429 2,080 61%$3.95 461 2,317 68%$5.45 492 2,546 75%$9.75 505 2,343 69%
1600 - 1700 $4.00 312 887 26%$6.80 429 2,087 61%$7.30 481 2,215 65%$8.95 544 2,476 73%$8.85 409 1,779 52%
1700 - 1800 $4.00 340 863 25%$6.25 464 2,145 63%$7.50 462 2,071 61%$8.80 488 2,162 64%$7.00 409 1,576 46%
1800 - 1900 $4.00 319 723 21%$3.60 428 1,590 47%$3.60 462 1,707 50%$4.40 492 1,802 53%$5.35 398 1,298 38%
1900 - 2000 $4.00 311 653 19%$3.15 319 926 27%$3.15 367 1,056 31%$4.55 365 1,114 33%$5.00 313 901 27%
Friday 12/30/11Thursday 12/29/11
Monday Tuesday Wednesday Thursday
Monday 12/26/11 Tuesday 12/27/11 Wednesday 12/28/11
12/02/1111/28/11 11/29/11 11/30/11 12/01/11 Friday
12/09/1112/05/11 12/06/11 12/07/11 12/08/11 FridayMonday Tuesday Wednesday Thursday
Monday Tuesday Wednesday Thursday 12/16/1112/12/11 12/13/11 12/14/11 12/15/11 Friday
Monday Tuesday Wednesday Thursday 12/23/1112/19/11 12/20/11 12/21/11 12/22/11 Friday
WESTBOUND PEAK-HOUR VOLUMES
6
. . . . . . . . .
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 255 648 19%$2.45 214 551 16%
0500 - 0600 $4.00 494 1,727 51%$3.85 477 1,699 50%
0600 - 0700 $4.15 534 2,257 66%$4.00 522 2,109 62%
0700 - 0800 $4.60 419 2,134 63%$4.45 378 1,673 49%
0800 - 0900 $4.15 199 1,788 53%$4.00 178 1,248 37%
0900 - 1000 $3.30 163 1,213 36%$3.30 161 939 28%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 235 612 18%$2.45 264 628 18%$2.45 256 624 18%$2.45 250 640 19%$2.45 199 510 15%
0500 - 0600 $4.00 484 1,793 53%$4.00 493 1,796 53%$4.00 496 1,780 52%$4.00 519 1,775 52%$3.85 450 1,679 49%
0600 - 0700 $4.15 569 2,369 70%$4.15 571 2,323 68%$4.15 484 1,922 57%$4.15 558 2,244 66%$4.00 506 1,876 55%
0700 - 0800 $4.60 455 2,202 65%$4.60 440 2,142 63%$4.60 468 2,065 61%$4.60 443 2,147 63%$4.45 414 1,835 54%
0800 - 0900 $4.15 214 1,726 51%$4.15 217 1,757 52%$4.15 230 1,698 50%$4.15 210 1,963 58%$4.00 211 1,556 46%
0900 - 1000 $3.30 152 1,180 35%$3.30 142 1,184 35%$3.30 183 1,546 45%$3.30 171 1,228 36%$3.30 171 1,065 31%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 213 609 18%$2.45 235 607 18%$2.45 259 640 19%$2.45 262 669 20%$2.45 215 569 17%
0500 - 0600 $4.00 450 1,782 52%$4.00 490 1,763 52%$4.00 506 1,780 52%$4.00 494 1,859 55%$3.85 462 1,731 51%
0600 - 0700 $4.15 515 2,058 61%$4.15 507 2,203 65%$4.15 556 2,255 66%$4.15 528 2,216 65%$4.00 492 2,130 63%
0700 - 0800 $4.60 393 2,107 62%$4.60 366 1,679 49%$4.60 422 2,097 62%$4.60 458 2,285 67%$4.45 381 1,796 53%
0800 - 0900 $4.15 168 1,715 50%$4.15 162 1,329 39%$4.15 212 1,522 45%$4.15 210 1,750 51%$4.00 204 1,960 58%
0900 - 1000 $3.30 123 1,094 32%$3.30 127 1,078 32%$3.30 143 1,185 35%$3.30 170 1,426 42%$3.30 140 1,647 48%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 217 598 18%$2.45 247 600 18%$2.45 233 558 16%$2.45 193 541 16%$2.45 127 333 10%
0500 - 0600 $4.00 478 1,792 53%$4.00 513 1,780 52%$4.00 493 1,716 50%$4.00 400 1,553 46%$3.85 276 963 28%
0600 - 0700 $4.15 457 1,996 59%$4.15 492 2,080 61%$4.15 486 2,115 62%$4.15 376 1,769 52%$4.00 268 967 28%
0700 - 0800 $4.60 373 1,828 54%$4.60 356 1,746 51%$4.60 335 1,506 44%$4.60 233 1,282 38%$4.45 195 894 26%
0800 - 0900 $4.15 232 1,254 37%$4.15 246 1,278 38%$4.15 241 1,240 36%$4.15 231 1,195 35%$4.00 188 865 25%
0900 - 1000 $3.30 255 1,190 35%$3.30 262 1,209 36%$3.30 269 1,262 37%$3.30 238 1,245 37%$3.30 260 987 29%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $1.30 36 79 2%$2.45 161 455 13%$2.45 168 443 13%$2.45 152 405 12%$2.45 108 288 8%
0500 - 0600 $1.30 55 158 5%$4.00 399 1,330 39%$4.00 381 1,283 38%$4.00 378 1,180 35%$3.85 267 869 26%
0600 - 0700 $2.10 36 178 5%$4.15 284 1,107 33%$4.15 297 1,127 33%$4.15 274 1,069 31%$4.00 227 911 27%
0700 - 0800 $2.45 59 168 5%$4.60 254 1,037 31%$4.60 242 1,030 30%$4.60 236 1,015 30%$4.45 219 880 26%
0800 - 0900 $2.45 83 275 8%$4.15 187 965 28%$4.15 220 984 29%$4.15 230 965 28%$4.00 192 821 24%
0900 - 1000 $3.15 192 523 15%$3.30 244 983 29%$3.30 270 1,074 32%$3.30 292 1,072 32%$3.30 285 886 26%
Friday
12/09/11Friday
12/23/11Friday
12/16/11
Monday 12/26/11 Tuesday 12/27/11 Friday 12/30/11Wednesday 12/28/11 Thursday 12/29/11
Monday Tuesday Wednesday Thursday 11/28/11 11/29/11 11/30/11
Monday Tuesday Wednesday Thursday12/05/11 12/06/11 12/07/11 12/08/11
12/02/1112/01/11
Monday Tuesday Wednesday Thursday12/12/11 12/13/11 12/14/11 Friday
12/22/11Monday Tuesday Wednesday Thursday 12/19/11 12/20/11 12/21/11
12/15/11
7
. . . . . . . . .
Transponder Distribution Status
Tags % of Total Tags % of Total
Issued
To New Accounts 575 36.0%629 35.8%628 34.8%
Additional Tags to Existing Accounts 291 18.2%400 22.8%383 21.2%
Replacement Transponders 730 45.7%726 41.4%793 44.0%
Total Issued 1,596 1,755 1,804
Returned
Account Closures 455 36.1%380 35.1%502 36.1%
Accounts Downsizing 127 10.1%107 9.9%142 10.2%
Defective Transponders 678 53.8%596 55.0%747 53.7%
Total Returned 1,260 1,083 1,390
TRANSPONDER DISTRIBUTION December-11 November-11
Average To-Date
FY 2011-12
At the end of December 2011, the 91 Express Lanes had 111,943 active customer accounts,
with 167,372 transponders assigned to those accounts.
TRANSPONDER INVENTORY STATUS Internal External Total
Available for Distribution:8,930 0 8,930
Customer-Returned Tag Classification
1. Under Warranty - will Return to Sirit:0
2. Out of Warranty - will Destroy:0
3. Not yet Classified:1,792
10,722
167,372
TRANSPONDERS ON-HAND:
Total Transponders On-hand:
Transponders Currently Assigned to Accounts:
December 2011
Number of Accounts by Fiscal Year
As of December 31, 2011
97,001 98,569 100,528
106,280
113,263
118,416 119,992 117,888 114,556 114,138 112,584 111,943
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Fiscal Year
8
. . . . . . . . .
Operational Highlights
On-road Operations
Customer Assistance Specialists (CAS) responded to 91 calls during December. The CAS team
received 47 calls to assist disabled vehicles, 14 calls to remove debris and conducted 20 assists
or traffic breaks. The CAS provided assistance to 4 accidents in the Express Lanes and 6
accidents in the general-purpose lanes.
9
. . . . . . . . .
Financial Highlights
91 Express Lanes
Operating Statement
Description Actual (1)Budget (1)Dollar $Percent (%)
Operating revenues:
Toll revenue 15,790,391.58 17,102,316.00$ (1,311,924.42)$ (7.7)
Fee revenue 3,156,741.66 2,740,476.00 416,265.66 15.2
Total operating revenues 18,947,133.24 19,842,792.00 (895,658.76) (4.5)
Operating expenses:
Contracted services 3,579,107.32 3,957,164.00 378,056.68 9.6
Administrative fee 852,601.32 1,151,814.00 299,212.68 26.0
Other professional services 307,614.12 647,162.00 339,547.88 52.5
Credit card processing fees 458,011.69 564,748.00 106,736.31 18.9
Toll road account servicing 109,076.58 527,874.00 418,797.42 79.3
Other insurance expense 154,214.24 125,000.00 (29,214.24) (23.4)
Toll road maintenance supply repairs 88,121.42 132,500.00 44,378.58 33.5
Patrol services 183,549.35 200,000.00 16,450.65 8.2
Building equipment repairs and maint 172,933.26 98,887.00 (74,046.26) (74.9)
Other services 11,000.06 56,925.00 45,924.94 80.7
Advertising fees - - - N/A
Utilities 7,926.05 9,000.00 1,073.95 11.9
Office expense 26,063.38 77,874.00 51,810.62 66.5
Bad debt expense 4,168.24 - (4,168.24) N/A
Miscellaneous (2)96,755.06 146,812.00 50,056.94 34.1
Leases 188,523.54 207,500.00 18,976.46 9.1
Property taxes - - - N/A
Total operating expenses 6,239,665.63 7,903,260.00 1,663,594.37 21.0
Depreciation and amortization (3)4,297,137.55 - (4,297,137.55) N/A
Operating income (loss)8,410,330.06 11,939,532.00 (3,529,201.94) (29.6)
Nonoperating revenues (expenses):
Interest income 360,375.32 810,493.00 (450,117.68) (55.5)
Interest expense (3,254,357.94) (3,316,360.00) 62,002.06 1.9
Other 71,824.02 - 71,824.02 N/A
Total nonoperating revenues (expenses)(2,822,158.60) (2,505,867.00) (316,291.60) (12.6)
Transfers in - - - N/A
Transfers out (98,908.94) - (98,908.94) N/A
Net income (loss)5,489,262.52$ 9,433,665.00$ (3,944,402.48)$ (41.8)
¹Actual 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.
²Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
³Depreciation and amortization are not budgeted items.
YTD as of December 31, 2011 YTD Variance
Capital Asset Activity
During the six months ending December 31, 2011, capital asset activities included approximately
$208,355 for the purchase of transponders.
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Monthly Status Reports
Attachment G
ATTACHMENT G
Orange County Transportation Authority
SSttaattuuss RReeppoorrtt
JJaannuuaarryy 22001122
As of January 31, 2012
2
. . . . . . . . .
Operations Overview
Traffic and Revenue Statistics
Total traffic volume on the 91 Express Lanes for January 2012 was 939,493. This represents a
daily average of 30,306. This is a 0.8% increase in total traffic volume from the same period last
year when traffic levels totaled 932,482. Potential toll revenue for the month was $2,747,239
which represents a decrease of 0.8% from the prior year’s total of $2,770,644. Carpool
percentage for the month was 23.4% as compared to the previous year’s rate of 23.9%.
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 January 2012.
Current Month-to-Date (MTD) as of January 31, 2012
(Fiscal Year (FY) 2011-12 data is for the corresponding month in that fiscal year)
Trips
Jan-12
MTD
Actual
Stantec
MTD
Projected
#
Variance
%
Variance
Jan-11
MTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 719,199 735,629 (16,430)(2.2%)709,363 1.4%
3+ Lanes 220,294 255,914 (35,620)(13.9%)223,119 (1.3%)
Total Gross Trips 939,493 991,543 (52,050)(5.2%)932,482 0.8%
Revenue
Full Toll Lanes $2,676,584 $2,630,502 $46,082 1.8%$2,689,014 (0.5%)
3+ Lanes $70,655 $67,669 $2,986 4.4%$81,630 (13.4%)
Total Gross Revenue $2,747,239 $2,698,171 $49,068 1.8%$2,770,644 (0.8%)
Average Revenue per Trip
Average Full Toll Lanes $3.72 $3.58 $0.14 3.9%$3.79 (1.8%)
Average 3+ Lanes $0.32 $0.26 $0.06 23.1%$0.37 (13.5%)
Average Revenue Per Trip $2.92 $2.72 $0.20 7.4%$2.97 (1.7%)
3
. . . . . . . . .
The 2012 fiscal year-to-date (YTD) traffic volume is 5% lower than the same period last year.
The 2012 fiscal year-to-date revenue is 8% lower than for the same period last year. Year-to-
date average revenue per-trip is $2.87 and 4% higher than Stantec’s projections.
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 2011 through January 2012.
FY 2011-12 to Date as of January 31, 2012
(FY 2011-12 data is for the period July 1, 2011 through January 31, 2012; FY 2010-11 data is for the corresponding period in that fiscal year.)
Trips
FY 2011-12
YTD
Actual
Stantec
YTD
Projected
#
Variance
%
Variance
FY 2010-11
YTD
Actual
Yr-to-Yr
%
Variance
Full Toll Lanes 5,195,078 5,244,129 (49,051)(0.9%)5,490,872 (5.4%)
3+ Lanes 1,674,336 1,835,214 (160,878)(8.8%)1,738,112 (3.7%)
Total Gross Trips 6,869,414 7,079,343 (209,929)(3.0%)7,228,984 (5.0%)
Revenue
Full Toll Lanes $19,234,458 $19,018,670 $215,788 1.1%$20,857,681 (7.8%)
3+ Lanes $503,990 $501,943 $2,047 0.4%$591,695 (14.8%)
Total Gross Revenue $19,738,447 $19,520,612 $217,835 1.1%$21,449,376 (8.0%)
Average Revenue per Trip
Average Full Toll Lanes $3.70 $3.63 $0.07 1.9%$3.80 (2.6%)
Average 3+ Lanes $0.30 $0.27 $0.03 11.1%$0.34 (11.8%)
Average Gross Revenue $2.87 $2.76 $0.11 4.0%$2.97 (3.4%)
4
. . . . . . . . .
Traffic and Revenue Summary
The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for
FY 2011-12 on a monthly basis.
724,753 793,176 745,803 757,185 711,450 743,688 719,199
271,673
255,204
224,985 225,500 225,749 250,951 220,294
175,000
350,000
525,000
700,000
875,000
1,050,000
1,225,000
1,400,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec -11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Vo
l
u
m
e
Month
FY 2011-12 Traffic Volume Overview
3+ Lanes Full Toll Lanes
The chart below reflects the gross potential revenue breakdown between Full Toll trips and
HOV3+ trips for FY 2011-12 on a monthly basis.
2,628,028
2,917,855
2,826,509
2,768,314
2,638,808
2,762,232
2,676,584
76,846
80,028
73,313
67,105
62,838
73,916
70,655
$2,500,000
$2,600,000
$2,700,000
$2,800,000
$2,900,000
$3,000,000
$3,100,000
Jul-11 Aug -11 Sep -11 Oct-11 Nov-11 Dec-11 Jan -12 Feb-12 Mar-12 Apr-12 May-12 Jun -12
Re
v
e
n
u
e
Month
FY 2011-12 Revenue Summary
Full Toll Lanes 3+ Lanes
5
. . . . . . . . .
None of the peak traffic hour in the eastbound direction reached or exceeded 90% or more of
defined capacity during the month of January 2012. As demonstrated on the next chart,
westbound peak hour traffic volumes top out at 74% of defined capacity.
EASTBOUND PEAK-HOUR VOLUMES
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.00 239 706 21%$4.15 258 1,505 44%$4.15 272 1,681 49%$4.25 319 1,819 54%$3.10 389 2,506 74%
1500 - 1600 $4.00 285 785 23%$3.70 479 2,394 70%$3.95 508 2,598 76%$4.95 540 2,750 81%$9.75 601 2,778 82%
1600 - 1700 $4.00 307 783 23%$6.80 500 2,473 73%$7.30 510 2,586 76%$8.95 508 2,641 78%$8.85 505 2,697 79%
1700 - 1800 $4.00 291 762 22%$6.25 507 2,480 73%$7.50 533 2,602 77%$8.80 505 2,666 78%$7.00 526 2,652 78%
1800 - 1900 $4.00 301 701 21%$3.60 521 2,245 66%$3.60 532 2,433 72%$4.40 582 2,611 77%$5.35 561 2,419 71%
1900 - 2000 $4.00 252 547 16%$3.15 316 1,095 32%$3.15 346 1,361 40%$4.55 422 1,631 48%$5.00 418 1,536 45%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 210 1,465 43%$4.15 199 1,575 46%$4.15 228 1,656 49%$4.25 182 1,647 48%$3.10 370 2,691 79%
1500 - 1600 $4.45 453 2,442 72%$3.70 465 2,386 70%$3.95 486 2,640 78%$4.95 383 2,310 68%$9.75 596 2,803 82%
1600 - 1700 $4.55 447 2,783 82%$6.80 470 2,584 76%$7.30 456 2,671 79%$8.95 489 2,666 78%$8.85 515 2,994 88%
1700 - 1800 $4.85 466 2,776 82%$6.25 470 2,621 77%$7.50 466 2,467 73%$8.80 525 2,871 84%$7.00 481 2,847 84%
1800 - 1900 $4.45 465 2,183 64%$3.60 479 2,462 72%$3.60 500 2,428 71%$4.40 530 2,582 76%$5.35 538 2,538 75%
1900 - 2000 $3.15 260 1,022 30%$3.15 258 1,300 38%$3.15 296 1,298 38%$4.55 317 1,412 42%$5.00 396 1,788 53%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 285 1,383 41%$4.15 193 1,526 45%$4.15 197 1,617 48%$4.25 250 1,924 57%$3.10 347 2,711 80%
1500 - 1600 $4.45 469 2,122 62%$3.70 443 2,526 74%$3.95 426 2,522 74%$4.95 490 2,679 79%$9.75 579 2,789 82%
1600 - 1700 $4.55 424 2,158 63%$6.80 429 2,556 75%$7.30 480 2,689 79%$8.95 457 2,624 77%$8.85 468 2,801 82%
1700 - 1800 $4.85 428 2,119 62%$6.25 500 2,671 79%$7.50 487 2,561 75%$8.80 501 2,770 81%$7.00 453 2,696 79%
1800 - 1900 $4.45 402 1,486 44%$3.60 516 2,436 72%$3.60 524 2,443 72%$4.40 502 2,541 75%$5.35 514 2,337 69%
1900 - 2000 $3.15 334 933 27%$3.15 296 1,236 36%$3.15 304 1,338 39%$4.55 337 1,727 51%$5.00 382 1,477 43%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 182 1,287 38%$4.15 178 1,487 44%$4.15 220 1,547 46%$4.25 256 1,848 54%$3.10 348 2,670 79%
1500 - 1600 $4.45 448 2,181 64%$3.70 467 2,335 69%$3.95 496 2,582 76%$4.95 500 2,732 80%$9.75 584 2,811 83%
1600 - 1700 $4.55 402 2,310 68%$6.80 452 2,501 74%$7.30 463 2,660 78%$8.95 502 2,734 80%$8.85 447 2,767 81%
1700 - 1800 $4.85 377 2,322 68%$6.25 433 2,409 71%$7.50 449 2,568 76%$8.80 490 2,373 70%$7.00 470 2,662 78%
1800 - 1900 $4.45 366 1,739 51%$3.60 498 2,427 71%$3.60 518 2,582 76%$4.40 531 2,477 73%$5.35 506 2,338 69%
1900 - 2000 $3.15 216 898 26%$3.15 302 1,339 39%$3.15 320 1,702 50%$4.55 205 923 27%$5.00 435 1,768 52%
PM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
1400 - 1500 $4.15 203 1,523 45%$4.15 234 1,633 48%
1500 - 1600 $4.45 483 2,384 70%$3.70 503 2,543 75%
1600 - 1700 $4.55 461 2,588 76%$6.80 467 2,618 77%
1700 - 1800 $4.85 435 2,491 73%$6.25 476 2,621 77%
1800 - 1900 $4.45 486 2,078 61%$3.60 501 2,498 73%
1900 - 2000 $3.15 233 993 29%$3.15 305 1,316 39%
Monday 01/02/12 Tuesday 01/03/12 Wednesday 01/04/12 Thursday 01/05/12 Friday 01/06/12
Monday 01/09/12 Tuesday 01/10/12 Wednesday 01/11/12 Thursday 01/12/12 Friday 01/13/12
Monday 01/16/12 Tuesday 01/17/12 Wednesday 01/18/12 Thursday 01/19/12 Friday 01/20/12
Monday 01/23/12 Tuesday 01/24/12 Wednesday 01/25/12 Thursday 01/26/12 Friday 01/27/12
Monday 01/30/12 Tuesday 01/31/12 Wednesday 02/01/12 Thursday 02/02/12 Friday 02/03/12
6
. . . . . . . . .
WESTBOUND PEAK-HOUR VOLUMES
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $1.30 52 105 3%$2.45 211 597 18%$2.45 238 581 17%$2.45 185 434 13%$2.45 148 341 10%
0500 - 0600 $1.30 79 219 6%$4.00 485 1,730 51%$4.00 479 1,744 51%$4.00 489 1,791 53%$3.85 467 1,552 46%
0600 - 0700 $2.10 57 194 6%$4.15 436 1,798 53%$4.15 533 2,108 62%$4.15 505 2,127 63%$4.00 478 1,998 59%
0700 - 0800 $2.45 66 204 6%$4.60 412 2,021 59%$4.60 397 1,751 52%$4.60 483 2,108 62%$4.45 423 1,872 55%
0800 - 0900 $2.45 90 290 9%$4.15 259 1,530 45%$4.15 247 1,326 39%$4.15 262 1,661 49%$4.00 250 1,346 40%
0900 - 1000 $3.15 222 522 15%$3.30 241 1,211 36%$3.30 258 1,248 37%$3.30 277 1,347 40%$3.30 255 1,126 33%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 241 679 20%$2.45 239 629 19%$2.45 266 632 19%$2.45 264 611 18%$2.45 214 542 16%
0500 - 0600 $4.00 507 1,830 54%$4.00 499 1,807 53%$4.00 518 1,773 52%$4.00 524 1,788 53%$3.85 466 1,640 48%
0600 - 0700 $4.15 547 2,149 63%$4.15 566 2,242 66%$4.15 578 2,212 65%$4.15 532 2,163 64%$4.00 479 1,787 53%
0700 - 0800 $4.60 423 1,948 57%$4.60 445 2,088 61%$4.60 412 1,961 58%$4.60 478 2,116 62%$4.45 439 1,960 58%
0800 - 0900 $4.15 200 1,504 44%$4.15 205 1,605 47%$4.15 192 1,383 41%$4.15 202 1,706 50%$4.00 195 1,360 40%
0900 - 1000 $3.30 135 1,161 34%$3.30 149 1,163 34%$3.30 129 1,194 35%$3.30 159 1,247 37%$3.30 179 1,181 35%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 184 513 15%$2.45 265 627 18%$2.45 258 637 19%$2.45 265 613 18%$2.45 206 530 16%
0500 - 0600 $4.00 330 1,315 39%$4.00 452 1,683 50%$4.00 491 1,860 55%$4.00 513 1,817 53%$3.85 463 1,618 48%
0600 - 0700 $4.15 266 1,180 35%$4.15 582 2,511 74%$4.15 535 2,238 66%$4.15 605 2,309 68%$4.00 530 2,076 61%
0700 - 0800 $4.60 239 1,078 32%$4.60 375 1,609 47%$4.60 435 2,113 62%$4.60 425 2,023 60%$4.45 355 1,595 47%
0800 - 0900 $4.15 185 1,013 30%$4.15 296 1,957 58%$4.15 213 1,714 50%$4.15 185 1,649 49%$4.00 167 1,288 38%
0900 - 1000 $3.30 245 1,022 30%$3.30 167 1,642 48%$3.30 145 1,191 35%$3.30 179 1,232 36%$3.30 150 1,125 33%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 232 633 19%$2.45 248 621 18%$2.45 257 612 18%$2.45 274 614 18%$2.45 228 562 17%
0500 - 0600 $4.00 411 1,319 39%$4.00 516 1,825 54%$4.00 512 1,830 54%$4.00 504 1,807 53%$3.85 468 1,618 48%
0600 - 0700 $4.15 452 1,755 52%$4.15 581 2,218 65%$4.15 578 2,309 68%$4.15 596 2,245 66%$4.00 459 1,894 56%
0700 - 0800 $4.60 419 2,064 61%$4.60 401 1,952 57%$4.60 453 2,082 61%$4.60 437 2,062 61%$4.45 395 1,724 51%
0800 - 0900 $4.15 221 1,953 57%$4.15 207 1,479 44%$4.15 187 1,494 44%$4.15 192 1,719 51%$4.00 234 1,550 46%
0900 - 1000 $3.30 156 1,419 42%$3.30 137 1,101 32%$3.30 156 1,218 36%$3.30 183 1,138 33%$3.30 160 1,058 31%
AM Time Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.Price HOV Vol. Cap.
0400 - 0500 $2.45 253 687 20%$2.45 263 627 18%
0500 - 0600 $4.00 510 1,897 56%$4.00 518 1,776 52%
0600 - 0700 $4.15 547 2,191 64%$4.15 591 2,216 65%
0700 - 0800 $4.60 430 2,168 64%$4.60 462 2,327 68%
0800 - 0900 $4.15 249 1,975 58%$4.15 231 1,964 58%
0900 - 1000 $3.30 163 1,390 41%$3.30 172 1,382 41%
Monday 01/02/12 Tuesday 01/03/12 Wednesday 01/04/12 Thursday 01/05/12 Friday 01/06/12
Monday 01/09/12 Tuesday 01/10/12 Wednesday 01/11/12 Thursday 01/12/12 Friday 01/13/12
Monday 01/16/12 Tuesday 01/17/12 Wednesday 01/18/12 Thursday 01/19/12 Friday 01/20/12
Monday 01/23/12 Tuesday 01/24/12 Wednesday 01/25/12
Monday 01/30/12 Tuesday 01/31/12 Wednesday 02/01/12 Thursday 02/02/12 Friday 02/03/12
Thursday 01/26/12 Friday 01/27/12
7
. . . . . . . . .
Transponder Distribution Status
Tags % of Total Tags % of Total
Issued
To New Accounts 686 35.9%575 36.0%637 35.0%
Additional Tags to Existing Accounts 387 20.3%291 18.2%383 21.1%
Replacement Transponders 837 43.8%730 45.7%799 43.9%
Total Issued 1,910 1,596 1,819
Returned
Account Closures 803 42.8%455 36.1%545 37.3%
Accounts Downsizing 247 13.2%127 10.1%157 10.7%
Defective Transponders 827 44.1%678 53.8%758 51.9%
Total Returned 1,877 1,260 1,460
December-11
Average To-Date
FY 2011-12TRANSPONDER DISTRIBUTION January-12
At the end of January 2012, the 91 Express Lanes had 111,785 active customer accounts, with
166,885 transponders assigned to those accounts.
Number of Accounts by Fiscal Year
As of January 31, 2012
97,001 98,569 100,528
106,280
113,263
118,416 119,992 117,888 114,556 114,138 112,584 111,785
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Fiscal Year
8
. . . . . . . . .
Operational Highlights
On-road Operations
Customer Assistance Specialists (CAS) responded to 89 calls during January. The CAS team
received 35 calls to assist disabled vehicles, 11 calls to remove debris and conducted 24 assists
or traffic breaks. The CAS provided assistance to 11 accidents in the Express Lanes and 8
accidents in the general-purpose lanes.
Gantry Relocation Project Update
One of the projects identified in the State Route (SR) 91 Implementation Plan is the SR-91
Westbound and Eastbound Lane Addition Project which adds a fifth general purpose lane in
each direction between the SR-55 and SR-241. Given the current gantries span across the toll
lanes and the general purpose lanes, the gantries will need to be torn down in order to
accommodate the new general purpose lanes. In December 2011, an agreement was
executed with Federal Signal Technologies (Federal Signal) to relocate and install the
Electronic Toll and Traffic Management (ETTM) system equipment onto the new gantries.
In January 2012, Caltrans completed the pouring of the concrete foundations required for the
new cantilever structures and enclosures and erected the westbound gantry structures. A
project kick-off meeting was held with Federal Signal in January to discuss the project goals
and objectives as well as to review the work plan. The installation and configuration of
roadside equipment took place in January with equipment to be installed onto the westbound
gantry in February. The existing equipment and gantry configuration will remain in place until
the new installation on the new gantry has proven to be equivalent in performance to the
existing system. Testing of the westbound equipment is estimated to begin in February. Upon
acceptance of the westbound system performance, work in the eastbound direction will
commence. The project is anticipated to be completed in April 2012.
9
. . . . . . . . .
Financial Highlights
91 Express Lanes
Operating Statement
Description Actual (1)Budget (1)Dollar $Percent (%)
Operating revenues:
Toll revenue 18,383,577.70 19,959,459.00$ (1,575,881.30)$ (7.9)
Fee revenue 3,718,680.04 3,260,412.00 458,268.04 14.1
Total operating revenues 22,102,257.74 23,219,871.00 (1,117,613.26) (4.8)
Operating expenses:
Contracted services 4,176,354.08 4,522,465.00 346,110.92 7.7
Administrative fee 994,701.54 1,343,783.00 349,081.46 26.0
Other professional services 364,116.94 851,099.00 486,982.06 57.2
Credit card processing fees 525,601.59 658,496.00 132,894.41 20.2
Toll road account servicing 138,965.69 615,501.00 476,535.31 77.4
Other insurance expense 179,916.61 145,750.00 (34,166.61) (23.4)
Toll road maintenance supply repairs 115,511.79 154,495.00 38,983.21 25.2
Patrol services 214,487.89 233,200.00 18,712.11 8.0
Building equipment repairs and maint 216,331.53 386,597.00 170,265.47 44.0
Other services 14,503.64 68,100.00 53,596.36 78.7
Advertising fees - - - N/A
Utilities 9,021.48 10,494.00 1,472.52 14.0
Office expense 27,551.76 90,801.00 63,249.24 69.7
Bad debt expense 4,447.32 - (4,447.32) N/A
Miscellaneous (2)113,305.31 165,839.00 52,533.69 31.7
Leases 244,568.62 241,945.00 (2,623.62) (1.1)
Property taxes - - - N/A
Total operating expenses 7,339,385.79 9,488,565.00 2,149,179.21 22.7
Depreciation and amortization (3)5,009,546.72 - (5,009,546.72) N/A
Operating income (loss)9,753,325.23 13,731,306.00 (3,977,980.77) (29.0)
Nonoperating revenues (expenses):
Interest income 405,284.80 921,569.00 (516,284.20) (56.0)
Interest expense (3,794,433.69) (3,863,556.00) 69,122.31 1.8
Other 71,824.02 - 71,824.02 N/A
Total nonoperating revenues (expenses)(3,317,324.87) (2,941,987.00) (375,337.87) (12.8)
Transfers in - - - N/A
Transfers out (98,908.94) - (98,908.94) N/A
Net income (loss)6,337,091.42$ 10,789,319.00$ (4,452,227.58)$ (41.3)
¹Actual 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.
²Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials.
³Depreciation and amortization are not budgeted items.
YTD as of January 31, 2012 YTD Variance
Capital Asset Activity
During the seven months ending January 31, 2012, capital asset activities included
approximately $208,340 for the purchase of transponders.
ORANGE COUNTY TRANSPORTATION AUTHORITY
Fiscal Year 2010-11 91 Express Lanes Annual Financial
Statements
Staff Report
Orange County Transportation Authority
550 South Main Street / P.O. Box 14184 / Orange / California 92863-1584 / (714) 560-OCTA (6282)
March 2, 2012
To: State Route 91 Advisory Committee
From: Kirk Avila, General Manager, 91 Express Lanes
Subject: Fiscal Year 2010-11 91 Express Lanes Annual Financial
Statements
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 2010-11 and has issued its independent auditor’s opinion. A copy of
the audited financial statements is attached for the State Route 91 Advisory
Committee review.
Recommendation
Receive and file the fiscal year 2010-11 91 Express Lanes Annual Financial
Statement.
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 and the financial position at year
end. In addition, OCTA is required to obtain an independent auditor’s opinion
on the financial statement. 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 fiscal year ended June 30, 20 11.
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
Fiscal Year 2010-11 91 Express Lanes Annual
Financial Statements
Page 2
United States. The auditors have issued an unqualified opinion on the financial
statements, indicating that the statements presents fairly, in all material
aspects, the financial position of the 91 Express Lanes Fund , as of
June 30, 2011. A copy of the audited financial statements is included as
Attachment A.
Summary
VTD, an independent accounting firm, has audited the 91 Express Lanes
financial statements and has issued its unqualified opinion as to the fairness of
the financial statements presentation and are free of material misstatement.
Attachment
A. 91 Express Lanes Fund (An Enterprise Fund of the Orange County
Transportation Authority) Financial Statements Year Ended
June 30, 2011.
ORANGE COUNTY TRANSPORTATION AUTHORITY
Fiscal Year 2010-11 91 Express Lanes Annual Financial
Statements
Attachment A
91 EXPRESSLANES FUND
(An Enterprise Fundof the Orange
County TransportationAuthority)
FINANCIAL STATEMENTS
Year Ended June 30,2011
ATTACHMENT A
91 ExpressLanesFund
(AnEnterpriseFundoftheOrangeCounty TransportationAuthority)
FinancialStatements
FortheFiscalYearEndedJune30,2011
Contents
IndependentAuditors’Report.........................................................................................................................1
FinancialStatements:
StatementofFundNetAssets..........................................................................................................................3
StatementofRevenues,ExpensesandChangesinFundNetAssets......................................................4
StatementofCashFlows...................................................................................................................................5
NotestotheFinancialStatements....................................................................................................................7
1
INDEPENDENTAUDITORS’ REPORT
Board of Directors
Orange CountyTransportation Authority
Orange, California
We have audited the accompanying financial statements of the 91 Express Lanes Fund, an enterprise fund of the
Orange CountyTransportation Authority(OCTA), as of and for the year ended June 30, 2011, which collectively
comprise the 91Express Lanes Fund’sbasic financialstatements as listed in the table of contents. These financial
statements are the responsibilityof the 91 Express Lanes Fund’s management. Our responsibility is to express an
opiniononthese financialstatements based onour audit.
We conducted our auditin accordance with auditingstandards generallyaccepted 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 aboutwhether the financial statements are free of material misstatement. An audit includes
consideration of internal control over financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the 91
Express Lanes Fund’s internal control over financial reporting. Accordingly, we express no such opinion. An
audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for
ouropinion.
As discussed in Note 1, the financial statements present only the 91 Express Lanes Fund of OCTA and do not
purport to, and do not, present fairly the financial position of OCTA as of June 30, 2011, and the changes in its
financial position and cash flows, where applicable, for the year then ended in accordance with accounting
principles generallyaccepted in the United States of America.
In our opinion, the financial statements referred to previously present fairly, in all material respects, the financial
position of the 91 Express Lanes Fund of OCTA as of June 30, 2011, and the changes in financial position, and,
where applicable, cash flows thereof for the year then ended in conformity with accounting principles generally
accepted in the United States of America.
As described in Note 10 to the financial statements, the 91 Express Lanes Fund of OCTA has adopted the
provisionsof GASB59,Financial Instruments Omnibus,July1, 2010.
In accordance with Government Auditing Standards, we have also issued our report dated October 21, 2011 on
consideration of the 91 Express Lanes Fund’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. The report is an integral part of an audit performed in accordance with Government
AuditingStandards andshould beconsideredin assessingtheresults ofour audit.
Vavrinek, Trine, Day & Co., LLP
Certified Public Accountants VALUE THE DIFFEREN CE
F R E S N O • L AG U N A H I L L S • PA LO A LTO • P L E A S A N TO N • R A N C H O C U C A M O N GA • S AC R A M E N TO
25231 Paseo De Alicia, Suite 100 Laguna Hills, CA 92653 Tel: 949.768.0833 Fax: 949.768.8408 www.vtdcpa.com
2
The 91 Express Lanes Fund has notpresented a management’s discussion and analysis that accountingprinciples
generally accepted in the United States of America has determined is necessary to supplement, although not
required tobepartof, thefinancialstatements.
Laguna Hills, California
October 21, 2011
91 Express Lanes Fund
(AnEnterprise Fund of the Orange CountyTransportationAuthority)
Statement of Fund Net Assets
June 30, 2011
Assets
Current Assets:
Cashand investments $31,355,334
Receivables:
Interest 48,567
Violations, net 6,904,359
Other 1,528,614
Other assets 262,155
Total current assets 40,099,029
Noncurrent Assets:
Restricted cashand investments:
Cashequivalents 38,933,086
Unamortized debt issuance costs 2,763,663
Capital assets, net:
Depreciable and amortizable 148,439,526
Total noncurrent assets 190,136,275
Total Assets 230,235,304
Liabilities
Current Liabilities:
Accountspayable 3,697,787
Accrued interest payable 2,209,522
Due toother governments 96,127
Unearned revenue 3,714,799
Other liabilities 322,599
Bonds payable - due withinone year 4,980,000
Total current liabilities 15,020,834
Noncurrent Liabilities:
Derivative instruments 4,125,329
Bonds payable - due inmore thanone year 147,366,826
Total noncurrent liabilities 151,492,155
Total Liabilities 166,512,989
Net Assets
Invested incapital assets, net of related debt 14,727,492
Restricted for:
Debt service 6,930,939
Capital 10,135,155
Operating reserves 3,232,200
Unrestricted 28,696,529
Total Net Assets $63,722,315
See accompanying notes tothe financial statements.
3
91 Express Lanes Fund
(AnEnterprise Fund of the Orange CountyTransportationAuthority)
Statement of Revenues, Expenses and Changes inFund Net Assets
For the Year Ended June 30, 2011
Operating revenues:
Tolls, fees, and fines $41,245,590
Operating expenses:
Management and operational services 6,483,400
Administrative overhead 1,683,269
Other operating expenses 152,334
Insurance claims and premiums 333,268
Professional services 3,809,813
General and administrative 596,084
Depreciationand amortization 9,323,514
Total operating expenses 22,381,682
Operating income 18,863,908
Nonoperating revenues (expenses):
Investment earnings 758,451
Investment gainonderivative instruments 10,724,981
Interest expense (10,080,363)
Other 354,298
Total nonoperating revenues (expenses)1,757,367
Income before transfers 20,621,275
Transfers toother OCTA funds (884,318)
Change innet assets 19,736,957
Total net assets- beginning 43,985,358
Total net assets- ending $63,722,315
See accompanying notes tothe financial statements.
4
91 Express Lanes Fund
(AnEnterprise Fund of the Orange CountyTransportationAuthority)
Statement of CashFlows
For the Year Ended June 30, 2011
Cashflows fromoperating activities:
Receiptsfromcustomers and users $39,812,127
Paymentstosuppliers (11,910,469)
Paymentsfor OCTA interfund services used (1,683,269)
Miscellaneousrevenue received 354,622
Net cashprovided by operating activities 26,573,011
Cashflows fromnoncapital financing activities:
Transfers toOCTA funds (884,318)
Repayment of advances fromOCTA funds (9,865,561)
Net cashused for noncapital financing activities (10,749,879)
Cashflows fromcapital and related financing activities:
Principal payment onlong-termdebt (4,740,000)
Interest paid onlong-termdebt (15,596,875)
Acquisitionand constructionof capital assets (2,361,293)
Net cashused for capital and related financing activities (22,698,168)
Cashflows frominvesting activities:
Terminationpayment for derivative instrument (4,821,334)
Interest received 1,889,783
Net cashused for investing activities (2,931,551)
Net decrease incashand cashequivalents (9,806,587)
Cashand cashequivalentsat beginning of year 80,095,007
Cashand cashequivalentsat end of year $70,288,420
Noncashcapital, financing and investing activities:
Interest expense incurred onadvances fromother OCTA funds $(323,831)
Investment gainonderivative instruments $10,724,981
Amortizationof bond premium $(252,542)
Amortizationof bond deferred charges $(1,067,806)
See accompanying notes tothe financial statements.
5
91 Express Lanes Fund
(AnEnterprise Fund of the Orange CountyTransportationAuthority)
Statement of CashFlows (Continued)
For the Year Ended June 30, 2011
Reconciliationof operating income tonet cash
provided by operating activities:
Operating income $18,863,908
Adjustmentstoreconcile operating income tonet cash
provided by operating activities:
Depreciationexpense 1,992,669
Amortizationof Franchise Agreement 7,330,845
Amortizationof cost of issuance 142,335
Miscellaneous 354,622
Change inassetsand liabilities:
Violations receivables, net (210,204)
Other receivables (806,453)
Other assets 77,050
Accountspayable (808,773)
Due toother governments 53,818
Unearned revenue (407,322)
Other liabilities (9,484)
Total adjustments 7,709,103
Net cashprovided by operating activities $26,573,011
Reconciliationof cashand cashequivalentstostatement of net assets:
Cashand investments $31,355,334
Restricted cashand investments 38,933,086
Total cashand cashequivalents $70,288,420
See accompanying notes tothe financial statements.
6
91 ExpressLanesFund
(AnEnterpriseFundofthe Orange County TransportationAuthority)
Notesto theFinancial Statements
Year Ended June 30,2011
7
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. The 91 Express Lanes is a toll facility located on a 10-mile segment of the
Riverside Freeway/StateRoute(SR)91 betweentheOrange/RiversideCounty lineandthe Costa
Mesa Freeway/SR 55. 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. Pursuant to the Franchise Agreement,
Caltransretainslegaltitletotherealproperty componentsofthetollfacility.
OCTA purchased the franchise interest for $207,500,000, consisting of cash of $72,500,000 and
certain assets and the assumption of certain liabilities. The purchase was enabled by State
Assembly Bill 1010 (Correa), which was passed by the California legislature and signed by the
governor in September2002. Thelegislation providedtheauthority for OCTA to collect tollsand
pay related financing costs no later than 2030 and eliminated noncompete provisions in the
Franchise Agreement for needed improvements on SR 91. The passage of Senate Bill 1316
(Correa) in August 2008 approved extending the 91 Express Lanes toll facility along the SR 91
into Riverside County.The billalso allows the extension of the Franchise Agreement toa date no
laterthanDecember31,2065.
These financial statements include only theactivities of the91 ExpressLanesFund,an enterprise
fundofOCTA. ThesefinancialstatementsarenotintendedtopresenttheactivitiesofOCTA.
2.Summary ofSignificantAccounting 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
financialreporting principles.
BasisofAccounting
The financial statements ofthe 91 ExpressLanes Fundare reportedusing theeconomic 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, andunearned tolls are reportedas unearned revenue. Toll revenue is recognized
whenthecustomersutilizethetollroadfacility.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
8
Enterprise funds distinguish operating revenues and expenses from nonoperating items.
Operating revenuesand expensesgenerally 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
the91 ExpressLanesFundincludethecostofservices,administrativeexpenses,anddepreciation
and amortization on capital assets. All revenues and expenses not meeting this definition are
reportedasnonoperating revenuesandexpenses.
Private-sector standards of accounting and financial reporting issued prior to December 1, 1989,
generally are followed in enterprise fund financial statements to the extent that those standards
do not conflict with or contradict guidance of GASB. The 91 Express Lanes Fund has elected not
tofollow subsequentprivate-sectorguidance.
When both restricted and unrestricted resources are available for use, it is the 91 Express Lanes
Fund’spolicy touserestrictedresourcesfirstandthenunrestrictedresourcesasthey areneeded.
CashandInvestments
The 91 Express Lanes Fund participates in OCTA’s Commingled Investment Pool. OCTA
maintains cash and investments in accordance with the Annual Investment Policy (AIP) adopted
initially by OCTA’s Board of Directors (Board) on May 8, 1995, and most recently amended
May 9, 2011. The AIP complieswith, or is more restrictive than, the California Government Code
(Code). At June 30, 2011, the investment portfolios were maintained at Union Bank as custodial
bank. OCTA’s Commingled Investment Pool is managed by four private sector investment
managers. Separateinvestmentmanager accountsaremaintainedfor theproceeds of bondissues,
with the earnings for each bond issue accounted for separately. Cash from other OCTA revenue
sources is commingled for investment purposes in the OCTA Commingled Investment Pool, with
investment earnings allocated to the different accounts based on average daily dollar account
balances.
Investments in U.S. government and U.S. agency securities, medium-term notes, repurchase
agreements, variable and floating rate securities, mortgage and asset-backed securities and
corporatenotesarecarriedatfairvaluebasedonquotedmarketprices,exceptforsecuritieswitha
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.
Commercialpaperiscarriedatamortizedcost(whichapproximatesfairvalue).
The AIP requires that assets in the portfolio consist of the following investments, with maximum
permissible concentrations based on book value, and is more restrictive than applicable state
statutesforthefollowing investmenttypes:
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
9
OCTANotesandBonds(25%)
Notes and bonds issued by OCTA, including notes and bonds payable solely out of the
revenues from a revenue-producing property owned, controlled or operated by OCTA or by
a department, board, agency or authority of OCTA which may bear interest at a fixed or
floating rate.
U.S.Treasuries(100%)
Direct obligations of the United States of America and securities which are fully and
unconditionally guaranteed as to the timely payment of principal and interest by the full
faithandcreditoftheUnitedStatesofAmerica.
U.S. Treasury coupon and principal Separate Trading of Registered Interest and Principal of
Securities (STRIPS) and Treasury Inflation Protected Securities (TIPS) are permitted
investmentspursuanttotheAIP.
FederalInstrumentality Securities(GovernmentSponsoredEnterprises)(100%)
Debentures, discount notes, callable and step-up securities, with a final maturity not
exceeding fiveyearsfrom thedateoftradesettlementissuedby thefollowing:
FederalHomeLoanBank (FHLB)
FederalHomeLoanMortgageCorporation(FHLMCorFreddieMac)
FederalNationalMortgageAssociation(FNMAorFannieMae)
FederalFarm CreditBank (FFCB)
FederalAgriculturalMortgageCorporation(FarmerMac)
FederalAgencies(100%)
Mortgage-backed securities and debentures with a final maturity not exceeding five years
from thedateoftradesettlementissuedby thefollowing:
GovernmentNationalMortgageAssociation(GNMAorGinnieMae)
SmallBusinessAdministration(SBA)
Export-ImportBank oftheUnitedStates(EXIMBANK)
MaritimeAdministration
WashingtonMetroArea Transit
U.S.DepartmentofHousing &UrbanDevelopment
FederalDepositInsuranceCorporation(FDIC)
NationalCreditUnionAdministration(NCUA)
Any Federal Agency and U.S. Government Sponsored Enterprise security not specifically
mentionedaboveisnota permittedinvestment.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
10
State ofCaliforniaandLocalAgency Obligations(25%)
Registered statewarrants,treasury notes or bondsof the Stateof California andbonds,notes,
warrants or other evidences of indebtedness of any local agency, other than OCTA, of the
State, including bonds payable solely out of revenues from a revenue producing property
owned,controlled, or operatedby thestateorlocalagency orby a department,board,agency
or authority of the State or local agency. Such obligations must be issued by an entity whose
general obligation debt is rated at least A-1 or better by two of the three Nationally
Recognized StatisticalRating Organizations (NRSROs) for short-term obligations, or A or the
equivalentforlong-term debt.
OCTAmay also purchasedefeased stateand local obligations as long asthe obligations have
been legally defeasedwith U.S. Treasury securitiesand such obligations mature or otherwise
terminatewithinfiveyearsofthedateofpurchase.
Public agency bonds issued for private purposes (industrial development bonds) are
specifically excludedasallowableinvestments.
BankersAcceptance (30%)
Mustbeeligibleforpurchaseby theFederalReserveSystem.
Mustberatedby atleasttwo of theNRSROswithat leastA-1 or the equivalent for short-
term deposits.
May notexceedthe5 percentlimitonany onecommercialbank.
Maximum Term:180 days.(Code)
CommercialPaper(25%)
MustberatedatleastA-1 ortheequivalentby twoofthethreeNRSROs.
Mustbe issuedby corporations rated at least A- or the equivalent rating by a NRSRO for
issuer’sdebt,otherthancommercialpaper.
Must be issued by corporations organized and operating within the United States and
having totalassetsinexcessof$500 million.
Must not represent more than 10 percent of the outstanding paper of the issuing
corporation.
Maximum Term:180 days.(Code270 days)
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
11
Negotiable CertificatesofDeposit(30%)
Must be issued by a nationally or state-chartered bank or state or federal association, or
by a state licensed branch of a foreign bank, which has been rated by at least two of the
NRSROswithatleastA-1 ortheequivalentforshort-term deposits.
Maximum Term:270 days.
Repurchase Agreements(75%)
Repurchase agreements collateralized by U.S. Treasuries or Agency securities as defined in
the AIP withany registeredbroker-dealersubject to theSecurities Investors Protection Act or
any commercial banks insured by the FDIC so long as at the time of the investment such
dealer (or its parent) has an uninsured, unsecured and unguaranteed obligation rated P-1
short-term or A2 long-term or better by Moody’s Investor Service (Moody's), and A-1 short-
term orAlong-term orbetterby Standard&Poor'sCorporation(S&P),provided:
A Public Securities Association (PSA) master repurchase agreement and a tri-party
agreement, if applicable, representing a custodial undertaking in connection with a
master repurchase agreement, which governs the transaction and has been signed by
OCTA.
The securities are held free and clear of any lien by OCTA's custodian or trustee or an
independent third party acting as agent (Agent) for the custodian or trustee, and such
third party is (i) a Federal Reserve Bank, or (ii) a bank which is a member of the FDIC
and which has combined capital, surplus and undivided profits of not less than
$50 million and the custodian or trustee shall have received written confirmation from
such third party that it holds such securities, free and clear of any lien, as agent for
OCTA'scustodianortrustee.
A perfected first security interest under the Uniform Commercial Code, or book entry
proceduresprescribedat31 C.F.R.306.1 etseq.or31 C.F.R.350.0 etseq.insuchsecurities
iscreatedforthebenefitofOCTA'scustodianortrusteeandOCTA.
The Agent provides OCTA's custodian or trustee and OCTA with valuation of the
collateral securities no less frequently than weekly and will liquidate the collateral
securities if any deficiency in the required 102 percent collateral percentage is not
restoredwithintwobusinessdaysofsuchvaluation.
Reverse purchaseagreementsare notpermitted unless usedasa permitted investment in
LAIF.
Maximum Term:30 days.(Code1 year)
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
12
Medium-Term Maturity Corporate Securities(30%)
CorporatesecuritieswhichareratedA-orbetterby twoofthethreeNRSROs.
Must be issued by corporations organized and operating within the United States or by
depository institutions licensed by the United States or any state and operating within
theUnitedStates.
Medium-term notes must not represent more than ten percent (10%) of the issue in the
case of a specific public offering. This limitation does not apply to debt that is
“continuously offered” in a mode similar to commercial paper, i.e. medium-term notes
(MTNs). Under no circumstance may any one corporate issuer represent more than
5 percentoftheportfolio.
Maximum Term: 5 years. (Code)
Money MarketFunds(20%)
Shares of beneficial interest issued by diversified management companies (commonly called
money marketfunds)which:
MustberatedAAA(ortheequivalenthighestranking)by twoofthethreeNRSROs.
May notrepresentmorethan10 percentofthemoney marketfund’sassets.
OtherMutualFunds(20%)
Shares of beneficial interest issued by diversified management companies (commonly called
mutualfunds)which:
MustberatedAAA(ortheequivalenthighestranking)by twoofthethreeNRSROs.
May notrepresentmorethan10 percentofthefund’sorpool’sassets.
Mortgage orAsset-BackedSecurities(20%)
Any mortgagepass-throughsecurity,collateralizedmortgageobligation,mortgage-backedor
other pay-through bond, equipment lease-backed certificate, consumer receivable pass-
throughcertificate,orconsumerreceivable-backedbondwhich:
IsratedAAAortheequivalent(CodeAA)by a NRSRO.
Is issued by an issuer having at leastan A or equivalent rating by a NRSRO for its long-
term debt.
Maximum Term: Fiveyearstatedfinalmaturity.(Code)
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
13
InvestmentAgreements(100%)
Investment agreements must be approved and signed by OCTA's Treasurer. Investment
agreements are permitted with any bank, insurance company or broker/dealer, or any
corporationif,atthetimeofsuchinvestment:
1)Such bank has an unsecured, uninsured and unguaranteed obligation rated long-term
Aa2 orbetterby Moody'sandAAorbetterby S&P.
2)Such insurance company or corporation has an unsecured, uninsured and unguaranteed
claimspayingability ratedlong-term Aaaby Moody'sandAAAby S&P.
3)Such bank or broker/dealer has an unsecured, uninsured and unguaranteed obligation
rated long-term A2 or better by Moody's and A or better by S & P (and with respect to
such broker/dealer rated short-term P-1 by Moody's and A-1 by S & P); provided, that
such broker/dealer or A2/A rated bank also collateralize the obligation under the
investing agreement with U.S. Treasuries, Government National Mortgage Association
securities, Federal National Mortgage Association securities or Federal Home Loan
MortgageAssociationsecuritiesmeeting thefollowing requirements:
a)Thesecuritiesareheldfreeandclearofany lienby OCTA'scustodianortrusteeoran
independent third party acting as agent (Agent) for the custodian or trustee, and
such third party is (i)a FederalReserve Bank, or (ii)a bank which isa member of the
Federal Deposit Insurance Corporation andwhich has combined capital, surplusand
undividedprofits of not less than $50 million and the custodian or trustee shall have
received written confirmation from such third party that itholds such securities, free
andclearofany lien,asagentforOCTA'scustodianortrustee;and
b)A perfected first security interest under the Uniform Commercial Code, or book
entry proceduresprescribedat31 C.F.R.306.1 etseq.or31 C.F.R.350.0 etseq.insuch
securitiesiscreatedforthebenefitofOCTA'scustodianortrusteeandOCTA;and
c)The Agent provides OCTA's custodian or trustee and OCTA with valuation of the
collateral securities no less frequently than weekly and will liquidate the collateral
securities if any deficiency in the required 102 percent collateral percentage is not
restoredwithintwobusinessdaysofsuchvaluation.
The agreement shall include a provision to the effect that if any rating of any such bank,
insurance, broker-dealer or corporation is downgraded below a minimum rating to be
establishedatthe time theagreementis executed,OCTA shallhave theright toterminate
suchagreement.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
14
State ofCalifornia LocalAgency InvestmentFund(LAIF)
LAIF is a pooled fund managed by the State Treasurer referred to in Section 16429.1 of the
Code. All securities are purchased under the authority of the Code Section 16430 and
16480.4. LAIF hasa $40millionmaximum portfoliopercentageperentity.
Orange County Treasury InvestmentPool(OCIP)
The OCIP is a pooled fund managed by the Orange County Treasurer and is comprised of
two funds, the Money Market Fund and the Extended Fund. The Money Market Fund is
invested in cash equivalent securities and is based on the investment guidelines detailed in
the Code section 53601.7. The Extended Fund is for cash requirements past one year and is
based on the Code Sections 53601 and 53635. OCIP has a $40 million maximum portfolio
percentageperentity.
California AssetManagementProgram (CAMP)(10%)
CAMP is a program for the investment of bond and certificates of participation proceeds
only. CAMP investmentsmustberatedAAorbetterby twoofthethreeNRSROs.
Variable andFloating Rate Securities(30%)
Variable and floating rate securities are restricted to investments in securities with a final
maturity of not to exceed five years as described above, must utilize traditional money
market resetindices such as U. S.Treasury bills, FederalFunds, commercialpaper or London
Interbank OfferedRate (LIBOR),andmustmeetallminimum creditrequirementspreviously
detailed in the AIP. Investments in floating rate securities whose reset is calculated using
morethanoneoftheaboveindicesarenotpermitted,i.e.dualindexnotes.
BankDeposits(5%)
Bank deposits in California banks which have a minimum short-term rating of A-1 by S & P
and a minimum short-term rating of P-1 by Moody’s. OCTA’s Treasurer shall draft and
executea contractdescribing provisionsforbank deposits.
Derivatives(5%)
Derivatives are to be used as a tool for bonafide hedging investments only where deemed
appropriate. Derivativesshallnotbeusedforthepurposeofinterestratespeculation.
Derivative products in any of the eligible investment categories listed above may be
permitted. OCTA’s Treasurer has the sole responsibility for determining which prospective
investments are derivatives. Each prospective investment in a derivative product must be
documented by the Treasurer as to the purpose and specific financial risk being hedged.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
15
Eachsuchinvestmentmustbeapprovedby theFinanceandAdministrationCommitteeprior
toentering intosuchinvestment.
No investments shall be permitted that have the possibility of returning a zero or negative
yield if held to maturity. In addition, the investment in inverse floaters, range notes, strips
derived from mortgage obligations, step-up notes and dual index notes are not permitted
investments.
All investments are subject to a maximum maturity of five years, unless specific direction to
exceedthelimitisgivenby theBoardandaspermittedby theCode.
OCTApolicy is to invest only in highquality instruments as permittedby the Code, subject to the
limitationsoftheAIP.
Outside portfolio managers must review, on an ongoing basis, the portfolios they manage
(including bond proceeds portfolios) to ensure compliance with OCTA's diversification
guidelines,withmaximum permissibleconcentrationsbasedonbook valueasfollows:
Issuer/Counter-Party Diversification Guidelines For All Securities Except Federal
Agencies, Federal Instrumentalities, Investment Agreements, Repurchase Agreementsand
91 ExpressLanesDebt
5% for any one corporation, bank, local agency, special purpose vehicle or other
corporatenameforoneormoreseries ofsecurities.
Issuer/Counter-Party Diversification Guidelines For Federal Agencies, Federal
InstrumentalitiesandRepurchase Agreements
35% forany oneFederalAgency orFederalInstrumentalities.
50% for any one repurchase agreement counter-party name if the maturity/term is
7 days.
35% for any one repurchase agreement counter-party name if the maturity/term is
>7 days.
Issuer/Counter-Party DiversificationGuidelinesforOCTA’s91 ExpressLanesDebt
OCTA can purchase all or a portion of the Toll Road Revenue Refunding Bonds (91 Express
Lanes) Series B Bonds maturing December 15, 2030 providing the purchase does not exceed
25% oftheMaximumPortfolio.
CashandCashEquivalents
For the purpose of the statement of cash flows, OCTA considers all short-term investments with
an initialmaturity of three months or less to be cash equivalents. All deposits, commercialpaper,
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
16
money market mutual funds, certificates of deposit, and the91 Express Lanes Fund’s share of the
OCTACommingledInvestmentPoolrepresentcashandcashequivalentsforcashflow purposes.
RestrictedInvestments
Investments set aside in the Reserve Fund, Supplemental Reserve Fund, Major Maintenance
Reserve Fund, and Operating Reserve Fund are pursuant to terms of the 2003 Indenture for the
$195,265,000 Toll Road Revenue Refunding Bonds and their use is limited by applicable debt
covenants.
Permitted investments per the debt covenants include: government obligations, State of
California and local agency obligations, bankers acceptances, commercial paper, negotiable
certificates of deposit, repurchase agreements, money market funds, other mutual funds,
investmentagreements,OrangeCounty InvestmentPoolandvariableandfloating ratesecurities.
Receivables
Violations receivable represents an estimate of the total outstanding unpaid violations that the
91 Express Lanes Fund anticipates to collect, net of an allowance for uncollectible accounts of
$837,812 at June 30, 2011. This estimate is based upon a twelve-month average of collections on
violations with a due date of 90 days or less. For unpaid violations exceeding 90 days, this
estimate is based upon an approximate 3-year average collections. An estimated $5.3 million
representsreceivablesnotexpectedtobecollectedwithinone year. The91 ExpressLanesutilizes
anoutsidecollectionagency toassistintherecovery ofunpaidviolationsexceeding 90 days.
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
allowanceforuncollectibleaccountsof$592,811 atJune30,2011.
OtherAssets
Otherassetsincludeprepaidexpensesandrefundabledeposits.
UnamortizedDebtIssuance Costs
Unamortized debt issuance costs represent costs associated with issuing the 2003 Toll Road
Revenue Refunding Bonds, issued to refund $135,000,000 of taxable debt, and are deferred and
amortizedoverthelifeofthe2003 TollRoadRevenueRefunding Bonds.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
17
CapitalAssets
Capital assets include the toll facility franchise, improvements, equipment, computer hardware,
software, furniture and fixtures, and transponders. Capital assets are defined by the 91 Express
LanesFundasassetswithaninitial,individualcostofmorethan$5,000 anda usefullifeinexcess
of one year. It is also the 91 Express Lanes Fund’spolicy 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
addvaluetotheassetormaterially extendassetlivesarenotcapitalized.
Capital assetsare depreciated using the straight-line method over the following estimated useful
lives:
CapitalAssetType UsefulLife
Improvements 10-30years
Equipment,furniture,andfixtures 3-10 years
Computerhardwareandsoftware 3-5 years
Transponders 5 years
The toll facility franchise is amortized over the remaining life of the Franchise Agreement
throughDecember2030.
InterestRate Swaps
Asa meansoflowering borrowing costson variableratedebtcomparedtofixedratebondsatthe
time of issuance in November 2003, OCTA entered into two parity interest rate swaps totaling
$100,000,000. The parity swaps were to effectively change OCTA’s variable rate bonds to a
synthetically fixed rate of 4.06227%. On March 15, 2011, OCTA terminated one of the swaps in
the amount of $75,000,000. The agreement for the remaining swap is recorded at fair value.
Changes in fair value of derivative instruments affect investment earnings or losses. As of June
30, 2011 the derivative instrument of the 91 Express Lanes Fund is considered ineffective. Refer
tonote5.
RiskManagement
The 91 Express Lanes Fund purchases commercial property insurance including business
interruption, earthquake and flood coverage related to the toll facility. Additionally, the
91 Express Lanes Fund participates in OCTA’s self-insurance general liability program. The
liability claimsareresolvedby OCTAandareanexpenseofthe91 ExpressLanesFund.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
18
NetAssets
Net assets represent the difference between assets and liabilities and are classified into three
categories:
Invested in capital assets, net of related debt -Reflects net assets of the 91 Express Lanes Fund
invested in capital assets, net of related debt. These net assets are not accessible for other
purposes.
Restricted net assets -Represents net assets not accessible for general use, with the use subject
to restrictions enforceable by third parties. The Statement of Net Assets includes restricted
net assets for the portion of debt attributable to unspent proceeds, restricted by the2003 Toll
Road Revenue Refunding Bonds Master Indenture of Trust for debt service, capital, and
operating expenses.
Unrestricted netassets-Representsnetassetsavailableforgeneraluse.
Use ofEstimates
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
resultscoulddifferfrom thoseestimates.
3.CashandInvestments
Cashandinvestmentsarecomprisedofthefollowing atJune30,2011:
Deposits:
Petty cash $550
Deposits 338,682
Totaldeposits 339,232
Investments:
WithOCTACommingledInvestmentPool 30,990,644
Withtrustee 38,958,544
Totalinvestments 69,949,188
Totalcashandinvestments $70,288,420
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
19
Totaldepositsandinvestmentsarereportedinthefinancialstatementsas:
Unrestrictedcashandinvestments $31,355,334
Restrictedcashandinvestments:
Cash equivalents 38,933,086
Totalcashandinvestments $70,288,420
AsofJune30,2011,the91 ExpressLanesFundhadthefollowing investments:
Investment FairValue Principal
Interest
Rate
Range
Maturity
Range
Weighted
Average
Maturity
(Years)
OCTA Commingled
Investment Pool $ 30,990,644 $ 30,353,483
Discount,
0.01%-8.0%
7/1/11-
6/23/16 1.98
Heldby trustee:
Commercialpaper 25,565,188 25,565,188 0.40%7/15/11 0.04
Money marketmutualfunds 26,002 26,002 0.00%7/1/11 1 Day
Certificatesofdeposit 13,367,354 13,367,354 0.10%7/5/11 0.01
Totalinvestments $ 69,949,188 $ 69,312,027
InterestRate Risk
OCTA manages exposure to declines in fair value from increasing interest rates by having an
investment policy that limits maturities to five years while also staggering maturities. OCTA
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 AIP, amounts
restrictedfordebtservicereservesare investedinaccordancewiththematurity provisionoftheir
specificindenture,whichmay extendbeyondfiveyears.
As of June 30, 2011, the 91 Express LanesFund participated in OCTA’s Commingled Investment
Pool which had asset-backed securities totaling $65,793,349. The underlying assets are consumer
receivables that include credit cards, auto and home loans. The securities have a fixed interest
rateandareratedAAAby atleasttwoofthethreeNRSROs.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
20
AsofJune30,2011,OCTA’sCommingledInvestmentPoolhadthefollowing variableratenotes:
Investment FairValue Coupon Multiplier
Coupon Reset
Date
AmericanExpress $ 949,865 LIBOR+170 basis points Monthly
Bank ofAmerica 1,002,690 LIBOR+20basis points Quarterly
Citigroup 677,348 LIBOR+85basis points Quarterly
Citigroup 421,445 LIBOR+33basis points Quarterly
Eaton Corp 500,585 LIBOR+33basis points Quarterly
Goldman Sachs 1,001,390 LIBOR+25basis points Quarterly
Goldman Sachs 644,605 LIBOR+100 basis points Quarterly
Morgan Stanley 848,452 LIBOR+98basis points Quarterly
Morgan Stanley 1,026,720 LIBOR+250 basis points Quarterly
NCUANotes 470,000 LIBOR+2basis points Monthly
NewYork Life 1,000,270 LIBOR+26basis points Quarterly
PACCAR Financial 633,522 LIBOR+45basis points Monthly
Totalvariable rate notes $ 9,176,892
The 91 Express Lanes Fund is invested in a pay-fixed, receive-variable interest rate swap with a
notional amounttotaling $25,000,000.The91 Express Lanesmakes semiannual fixedpayments to
the counterparty of 4.06227% and receives monthly variable payments based on 67% of LIBOR if
LIBOR is equal to or greater than 4.0% or the Securities Industry Financial Markets Association
(SIFMA) Index if LIBOR is less than 4.0%. This interest rate swap was executed in November
2003 and matures in December 2030. At June 30, 2011, the interest rate swap hada negative fair
valueof$4,125,329.
CustodialCreditRisk
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 investments 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 investment or
collateral securities that are in the possession of another party. OCTA’s investment policy
requires that a third party bank custody department hold all securities owned by OCTA. All
trades are settled on a delivery versus payment basis through OCTA’s safekeeping agent. At
June 30, 2011, OCTA did not have any deposits or securities exposed to custodial credit risk and
therewasnosecuritieslending.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
21
CreditRisk
The AIP sets minimum acceptable credit ratings for investments from any of the three nationally
recognized rating services S & P, Moody’s, and Fitch Ratings (Fitch). For an issuer of short-term
debt, the rating mustbe no less than A-1 (S &P), P-1 (Moody’s), or F-1 (Fitch), whilean issuer of
long-term debt must be rated no less than an “A” by two of the three NRSROs. LAIF and
OCTA’sCommingledInvestmentPoolarenotrated.
The following is a summary of the credit quality distribution and concentration of credit risk by
investment type as a percentage of fair value of the 91 Express Lanes Fund’s portfolio at
June30,2011. (NRmeansNotRated):
Investments S&P Moody’s Fitch
% of91 Express
LanesPortfolio
OCTACommingledInvestmentPool NR NR NR 44.30%
Heldby trustee:
Commercialpaper A-1+P-1 NR 36.55%
Money market mutual funds AAA Aaa AAA 0.04%
Certificatesofdeposit A-1 P-1 F1+19.11%
Total 100.00%
At June 30, 2011, JP Morgan Chase Bank, N.A, the counterparty for the pay-fixed interest rate
swap Series 2003-B-2 was rated AA- by S & P, Aa1 by Moody’s, and AA- by Fitch. In addition,
the 91 Express Lanes investment derivative instrument was not in an asset position at
June30,2011. Thus,the91 ExpressLaneswasnotexposedtolossduetocreditrisk.
As of June 30, 2011, the 91 Express LanesFund participated in OCTA’s Commingled Investment
Pool which held one investment in Lehman Brothers Holding Inc. medium-term notes. The
investment had a $1,000,000 par maturing January 24, 2013. On September 15, 2008, Lehman
BrothersHolding Inc.filedforbankruptcy. AtJune30,2011,themarketvalueofthesecurity was
26.50% ofpar.
ConcentrationofCreditRisk
AtJune30,2011,OCTAdidnotexceedtheAIP maximum concentrationsasstatedbelow:
Issuer/Counter-Party Diversification Guidelines For All Securities Except Federal
Agencies, Federal Instrumentalities, Investment Agreements, Repurchase Agreementsand
91 ExpressLanesDebt
5% for any one corporation, bank, local agency, special purpose vehicle or other
corporatenameforoneormoreseries ofsecurities.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
22
Issuer/Counter-Party Diversification Guidelines For Federal Agencies, Federal
InstrumentalitiesandRepurchase Agreements
35% forany oneFederalAgency orFederalInstrumentalities.
50% for any one repurchase agreement counter-party name if the maturity/term is
7 days.
35% for any one repurchase agreement counter-party name if the maturity/term is
> 7 days.
Issuer/Counter-Party DiversificationGuidelinesforOCTA’s91 ExpressLanesDebt
OCTA can purchase all or a portion of the Orange County Transportation Authority’s
Toll Road Revenue Refunding Bonds (91 Express Lanes) Series B Bonds maturing
December15,2030providing thepurchasedoesnotexceed25% oftheMaximum Portfolio.
Thefollowing isa summary oftheconcentration of creditrisk by issuerasa percentageofthefair
valueofthe91ExpressLanesFund’sportfolioatJune30,2011:
Issuer Amount
% of91 Express
LanesPortfolio
GeneralElectricCap Corp (Commercial paper)$ 25,565,188 36.55%
Bank oftheWest (Certificatesofdeposit)13,367,354 19.11%
InvestmentinState InvestmentPool
OCTA is a voluntary participant in LAIF which is regulated by the California Government Code
under the oversight of the Treasurer of the State of California. The fair value of OCTA’s
investmentin thispool is reported in theaccompanying financial statementsbasedupon OCTA’s
pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the
amortizedcostofthatportfolio). Thebalanceavailableforwithdrawalisbasedontheaccounting
recordsmaintainedby LAIF,whicharerecordedonanamortizedcostbasis.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
23
4.CapitalAssets
Capitalassetactivity forthe91 ExpressLanesFundfortheyearendedJune30,2011 isasfollows:
Beginning
Balance Increases Decreases
Ending
Balance
Capitalassets,beingdepreciated
andamortized:
Tollfacility franchise $ 205,263,668 $ - $ - $ 205,263,668
Improvements 2,827,450 381,081 - 3,208,531
Communicationsequipment 5,602,202 -- 5,602,202
Computer hardware and
software
1,773,731 1,441,282 - 3,215,013
Transponders 4,498,852 538,930 474,987 4,562,795
Equipment, furnitureand
fixtures
162,371 -5,422 156,949
Totalcapitalassets, being
depreciatedandamortized 220,128,274 2,361,293 480,409 222,009,158
Lessaccumulateddepreciation
andamortization for:
Tollfacility franchise (54,981,340)(7,330,845)- (62,312,185)
Improvements (845,947)(150,768)- (996,715)
Communicationsequipment (4,551,799)(738,231)- (5,290,030)
Computer hardware and
software
(1,116,515)(529,416)- (1,645,931)
Transponders (3,158,463)(554,969) (474,987) (3,238,445)
Equipment, furnitureand
fixtures
(72,139)(19,285) (5,098)(86,326)
Totalaccumulateddepreciation
andamortization (64,726,203)(9,323,514)(480,085)(73,569,632)
Totalcapitalassets, being
depreciatedandamortized,net $ 155,402,071 $ (6,962,221)$ 324 $ 148,439,526
5.InterestRate Swaps
Asa meansoflowering borrowing costson variableratedebtcomparedtofixedratebondsatthe
time of issuance in November 2003, OCTA entered into two parity interest rate swaps totaling
$100,000,000 in connection with its $195,265,000 Toll Road Revenue Refunding Bonds.
$95,265,000 was issued on a fixed ratebasisand $100,000,000 was issued on a variable rate basis.
The parity swaps were entered into to effectively change OCTA’s variable rate bonds to a
synthetically fixed rate of 4.06227%. The Series 2003-B-1 swap was for $75,000,000 and the
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
24
counterparty was Lehman Brothers Special Funding Incorporated (Lehman Brothers). The Series
2003-B-2 swap was for $25,000,000 and the counterparty was Bear Stearns Capital Markets
Incorporated. On May 30, 2008, JP Morgan completed its acquisition of The Bear Stearns
Companies Incorporated. As a result of the merger, JP Morgan assumed the $25,000,000 interest
rateswap betweenOCTAandBearStearnsCapitalMarketsIncorporated.
On November 23, 2005, Lehman Brothers Holding Inc. named Lehman Brothers Commercial
Bank (LBCB) as the counterparty for the Series 2003-B-1 interest rate swap replacing Lehman
Brothers Special Financing Inc. On September 15, 2008, Lehman Brothers Holding Inc. declared
bankruptcy. OnOctober2,2008,OCTAprovideda NoticeofEventofDefaultandReservationof
Rights letter to Lehman Brothers Special Financing and LBCB regarding the investment rating
downgrade and missed counterparty payments. Since LBCB’s Event of Default, OCTA had not
remittedpaymenttoLBCBaspartoftheswap agreement.
In February 2009, LBCB changed its name to Woodlands Commercial Bank (Woodlands). The
net amount owed between OCTA and Woodlands totaled approximately $6.6 million through
February 2011. OnMarch15,2011,OCTAterminatedtheSeries2003-vB-1 swap andremittedthe
net amount owed to the counterparty for unpaid swap payments. An investment gain of
$9,932,418wasrecognizedasa resultofthetermination.
The fair value balances and notional amounts of derivative instruments outstanding at
June 30, 2011, and the changes in fair value of such derivative instruments for the year then
endedareasfollows:
Changesin FairValue Fair Value at June30,2011
Classification Amount Classification Amount Notional
Investment derivatives-
Pay-fixedinterest rate swaps:
Series2003-B-1 Investment Gain $ 9,932,418 Investment $ -$ -
Series2003-B-2 Investment Gain $ 792,563 Investment $(4,125,329)$25,000,000
$10,724,981 $(4,125,329)$25,000,000
In the prior fiscal year, the 91 Express Lanes Fund determined that the pay-fixed interest rate
swaps classified as investment derivative instruments did not meet the criteria for effectiveness.
Accordingly, an adjustment was made to record the accumulated negative changes in fair value
of the swaps. The increase in the fair value of the swaps in fiscal year 2011 of $10,724,981 is
reportedasaninvestmentgainonderivativeinstrumentsfortheyearendedJune30,2011.
The fair values of the interest rate swaps were estimated using proprietary methodologies
developed by DerivActiv, LLC (DerivActiv). The pricing valuation was conducted by using the
executed trade confirmations for the swap and modeling the trades in DerivActiv’s pricing
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
25
system using the rate structure contained in the confirmation and ISDA agreement. DerivActiv
utilizedpricing levelsfrom Bloomberg FinancialatthemarketcloseonJune30,2011.
Terms
The bonds and the related parity swap agreement mature on December 15, 2030. The parity
swap was entered into at the same time the bonds were issued (November 2003). Starting in
fiscal year2022, the notional amount of the parity swap declines and the principal amount of the
associated bonds declines by an identical amount. Under the parity swap, OCTA pays the
counterparty a fixedpayment of 4.06227% and the counterparty paysOCTAa floating rate equal
to 67% of one month LIBOR index if one month LIBOR index is equal to or greater than 4.0% or
theSIFMAIndexifonemonthLIBORislessthan4.0%.
6.BondsPayable
Taxable SeniorSecuredBonds
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
straightlinebasis.
TollRoadRevenue 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”)wereissuedasadjustableratebonds.
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 requiredby the Indenture, the interest rate was converted to a
Long Term Interest Rate equal to the OCIP Rate, or 3.85%. The Series 2003-B Bonds were subject
to mandatory tender for repurchase by or for the benefit of OCTA on December 19, 2010. On
December 20,2010,OCTA entered into a new transaction with OCIP for the Series 2003-B Bonds
ata1.55% rate. TheSeries2003-BBondshavea mandatory tenderdateofAugust15,2013.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
26
Asummary ofthetermsoftheTollRoadRevenueRefundingBondsisasfollows:
Issuancedate 11/12/03
Originalissueamount $195,265,000
Cashreserverequirements $38,019,585 *
Cashreservebalance $38,933,086
Interestrate 1.55% to5.375%**
Maturity December2030
Principalpaymentdate August15
Currentbalance $165,685,000
Unamortizedpremium $4,903,511
Deferredamountonrefunding ($18,241,685)
*Pursuant to the 2003 Toll Road Revenue Refunding Bonds Master Indenture of Trust, four
reserve funds are maintained with required balances as follows: Reserve Fund $12,634,792;
Supplemental Reserve Fund $12,634,793; Major Maintenance Reserve Fund $10,000,000; and
Operating Reserve Fund $2,750,000. At June 30, 2011, all reserve requirements have been
satisfied.
** Series 2003-B Bonds were issued as variable rate bonds with a floating-to-fixed interest rate
swap transaction in place. The swap for the $75,000,000 Series 2003-B-1 Bonds was terminated
on March 15, 2011. The $25,000,000 Series 2003-B-2 Bonds was swapped to a fixed rate of
4.06227%. Refertointerestrateswap descriptioninNote5.
Annualdebtservicerequirementsonthetax-exemptbondsasofJune30,2011,areasfollows:
Yearending June30 Principal Interest Total
2012 $ 4,980,000 $5,754,968 $ 10,734,968
2013 5,245,000 5,489,508 10,734,508
2014 5,525,000 5,210,424 10,735,424
2015 5,815,000 4,919,655 10,734,655
2016 6,130,000 4,606,099 10,736,099
2017-2021 35,825,000 17,854,881 53,679,881
2022-2026 45,420,000 10,226,423 55,646,423
2027-2031 56,745,000 3,745,214 60,490,214
Total $165,685,000 $57,807,172 $223,492,172
The interest rate used to determine the future annual debt service requirements for the Series
2003-B-1 bondswas the1.55% OCIP rateat June 30,2011. The interestrateusedto determine the
future annual debt service requirements for the Series 2003-B-2 bonds was 5.5227%, which also
includes net swap interest. As part of the swap agreement, OCTA pays a fixed interest rate of
4.06227% per annum and receives the SIFMA Index which amounted to 0.09% on June 30, 2011.
Asratesvary,bondinterestpaymentsandnetswap paymentswillvary.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
27
ChangesinLong-Term Liabilities
Long-term liabilitiesactivity fortheyearendedJune30,2011,wasasfollows:
Beginning
Balance Additions Reductions
Ending
Balance
Due within
One Year
Tax-exempt bonds $170,425,000 $ -$4,740,000 $165,685,000 $4,980,000
Unamortizedpremium 5,156,053 -252,542 4,903,511 -
Unamortizeddeferred
amount on refunding (19,309,491)-(1,067,806)(18,241,685)-
Total long-term liabilities $156,271,562 $ -$3,924,736 $152,346,826 $4,980,000
Arbitrage Rebate
TheTaxReform Actof1986 institutedcertainarbitragerestrictionswithrespecttothe issuanceof
tax-exempt bonds after August 31, 1986. In general, arbitrage regulations deal with the
investment of all tax-exempt bond proceeds at an interest yield greater than the interest yield
paidtobondholders. Failuretofollow thearbitrageregulationscouldresultinallinterestpaidto
bondholderstoberetroactively renderedtaxable.
In accordance with the arbitrage regulations, if excess earnings were calculated, 90% of the
amountcalculatedwouldbeduetotheInternalRevenueService(IRS)attheendofeachfiveyear
period. The remaining 10% would be recorded as a liability and paid after all bonds had been
redeemed. During the current year, no excess earnings were calculated, therefore no payments
weremade.
PledgedRevenue
The 91 ExpressLanes debt issuance outstanding is repaid and secured by the pledging of certain
revenues, as defined in the debt agreement. The amount and term of the remainder of this
commitment is indicated in the debt service to maturity table. The purpose for which the
proceeds of the debt issuance were utilized is disclosed in the debt description. Pursuant to the
2003 Toll Road Revenue Refunding Bonds Master Indenture of Trust, the 91 Express Lanes fund
willcovenanttofixandprescribetollratesforeachtypeofvehicleandeachtimeofday sufficient
to produce adjusted net toll revenues for each fiscal year at least equal to 1.3 times annual debt
service. Adjusted net toll revenues includes tolls and investment earnings on specified reserve
accounts minus operating expenses, excluding depreciation and interest expense. For the year
ended June 30, 2011, the 91 Express Lanes annual debt service payments include an additional
$2,245,849 in interest associated with the downgrade of Ambac Insurance Corporation and the
bankruptcy ofLehmanBrothersHolding Inc.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
28
PledgedrevenuefortheyearendedJune30,2011,wasasfollows:
Descriptionof
PledgedRevenue
AnnualAmountof
PledgedRevenue
AnnualDebt
ServicePayments
PledgedRevenue
Coverage
91 ExpressLanesNet
TollRoadRevenue $28,421,539 $14,503,019 1.96
7.Advancesfrom OtherOCTAFunds
In connection with the purchase of the toll facility franchise, to fund the debt service payment
required on February 15, 2003, and to establish operations, the 91 Express Lanes Fund borrowed
$83,640,595 from other OCTA funds. Interest accrued monthly at an interest rate representing
OCTA’s rate of return on short-term investments, adjusted each January (2.21% at June 30, 2011).
Total interest of $323,831 accrued on the advances for the year ended June 30, 2011. On
June 15, 2011, the 91 Express Lanes Fund repaid $9,865,561, representing the advance plus
accruedinterest,withnetrevenues. AtJune30,2011,theseadvanceswerefully repaid.
8.TransferstoOtherOCTAFunds
For the year ended June 30, 2011, the 91 Express Lanes Fund transferred $884,318 to OCTA’s
Local Transportation Authority (LTA) Fund for the Riverside Freeway (SR 91) Eastbound Project
right-of-way capitalexpendituresandsupportservices.
9.CommitmentsandContingencies
OperatorAgreement
In connection with the purchase of the toll facility interest, OCTA entered into an operating
agreement with Cofiroute Global Mobility, subsequently Cofiroute USA, LLC (Cofiroute), to
provideoperating servicesintheannualamountof$4,994,000 plusinflationfor threeinitialyears
with two one-year extension options, subjectto Board of Directors approval. The agreementwas
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 authorizes the addition of two five-year extension options
beginning July 1, 2011 through June 30, 2016 for the first extension term and beginning July 1,
2016 through June30,2021 asthe second extension term. Cofiroute is responsible for the day-to-
day operationsofthetollfacility.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
29
Lease Commitments
The 91 ExpressLanesFund is committed under two non-cancelable leases for office space. These
leasesare considered for accounting purposes tobe operating leases. Lease expensesfor the year
endedJune30,2011were$380,246.
Futureminimum paymentsfortheseleasesapproximatethefollowing:
Fortheyearending June30:
2012 $368,043
2013 106,287
2014 26,767
Total $501,097
10.EffectofNew Pronouncements
GASBStatementNo.54
In March 2009, GASB issued Statement No. 54, Fund Balance Reporting and Governmental
Fund Type Definitions. The objective of this statement is to enhance the usefulness of fund
balance information by providing clearer fund balance classifications that can be more
consistently appliedandby clarifying theexisting governmentalfundtypedefinition. OCTA
implementedthisstatementinfiscalyear2011.
GASBStatementNo.59
In June 2010, GASB issued Statement No. 59, Financial Instruments Omnibus. The objective
of this Statement is to update and improve existing standards regarding financial reporting
and disclosure requirements of certain financial instruments and external investment pools
for which significant issues have been identified in practice. OCTA implemented this
statementinfiscalyear2011.
GASBStatementNo.60
In November 2010, GASB issued Statement No. 60, Accounting and Financial Reporting for
Service Concession Arrangements. The objective of this Statement is to improve financial
reporting by addressing issues related to service concession arrangements (SCAs),which are
a type of public-private or public-public partnership. This statement is effective for OCTA’s
fiscalyearending June30,2013.
GASBStatementNo.61
In November2010,GASB issuedStatement No. 61, TheFinancialReporting Entity: Omnibus
– anamendment ofGASB StatementsNo. 14 and No. 34. The objectiveof thisStatementisto
improve financial reporting for a governmental financial reporting entity. This statement is
effectiveforOCTA’sfiscalyearending June30,2013.
91ExpressLanesFund
Notes tothe Financial Statements
Year EndedJune30,2011
30
GASBStatementNo.62
In June 2011, GASB issued Statement No. 62, Codification of Accounting and Financial
Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA
Pronouncements. The objective of this Statement is to incorporate into the GASB’s
authoritative literature certain accounting and financial reporting guidance that is included
in FASBand AICPA pronouncements issuedon or before November30,1989 which doesnot
conflict with or contradict GASB pronouncements. This statement is effective for OCTA’s
fiscalyearending June30,2013.
GASBStatementNo.63
In June 2011, GASB issued Statement No. 63, Financial Reporting of Deferred Outflows of
Resources, Deferred Inflows of Resources, and Net Position. This Statement provides
financial reporting guidance for deferred outflows of resources and deferred inflows of
resources and the resulting net position. This statement is effective for OCTA’s fiscal year
ending June30,2013.
GASBStatementNo.64
In June 2011, GASB issued Statement No. 64, Derivative Instruments: Application of Hedge
Accounting Termination Provisions – an amendment of GASB Statement No. 53 . The
objective of this Statement is to clarify whether an effective hedging relationship continues
after the replacement of a swap counterparty or a swap counterparty’s credit support
provider. This Statement sets forth criteria that establish when the effective hedging
relationship continues and hedge accounting should continue to be applied. This statement
iseffectiveforOCTA’sfiscalyearending June30,2012.
ORANGE COUNTY TRANSPORTATION AUTHORITY
State Route 91 Corridor Improvement Project Update
Powerpoint
State Route 91 Corridor
Improvement Project Update
for the
State Route 91 Advisory
Committee
March 2, 2012
Presentation Agenda
2011 Milestones
•Agency Agreements
•Federal Grant Award
•Draft Environmental
Document
•Bond & Loan Rating
•Property Acquisition
Fast Forward –
Next Six Months
•Full Funding –
Federal Loan
•Design-Build Request
For Proposal
•Caltrans & RCTC
Agreements
•Environmental
Approval
SR-91/SR-71
Interchange
Project
•Scope
•Schedule
•Funding
•Cost
Agency Agreements
Executed:
December 2011
Addresses design,
construction, and
startup of the RCTC
91 Express Lanes
Governs how
agencies will jointly
operate and maintain
an extended 91
Express Lanes
OCTA/RCTC
Cooperative
Agreement
(ORCA) Executed:
November 2011
Addresses impacts to
the City of Corona
Defines agency roles
and responsibilities
during design and
construction
Corona/RCTC
Cooperative
Agreement
Federal Grant Award
$200
Million
Loan +/-
848
Applications
46 Awards
Set Aside
for Loan
Program
$20 Million
TIGER Grant
Award
Transportation Investment
Generating Economic Recovery
Draft Environmental
Document
•Culmination of almost four
years of work
•Two “build” alternatives
studied
•Comment period :
May 26 - July 11, 2011
Draft
Environmental
Document
•Held June 9th, 2011
•Corona Civic Center
gymnasium
•Well attended by the public
and elected officials
Public Hearing
Bond & Loan Rating
•Pay-as-you-go
•Measure A
bond issuance Measure A
•Future USDOT invitation
and approval
•Approximate: $445 million
TIFIA loan
•Non-recourse, project financing
•Approximate: $164 million
Toll Rev.
Bonds
INVESTMENT GRADE RATING
“…point-in-time initial private rating to the senior
bonds and TIFIA loan…”
Property Acquisition
Property
Acquisition
Early
Acquisition
Authority
Meetings
with
Owners
Property
Purchased
$$$
Escrows
Closed
RCTC as
Property
Manager
2008
State
tolling
authority
2009
Federal
tolling
authority
2010
Design-
Build
authority
2011
Early
property
acquisition
authority
2012
Fast Forward –
Next Six Months
TIFIA Loan – Full
Funding
Environmental
Approval
Full Funding –
Federal Loan
TIFIA
Toll
Revenue
Bonds
Measure
A
-Federal loan program
-Fund up to 33% of project costs
-Loan repaid by future toll revenues
-35-year term
-Subordinate to senior debt
-Ideal for SR-91 CIP!
Design-Build
Request for Proposal
Step 1 RFQ
•2010/2011
•Four Pre-qualified
Teams
Step 2 RFP
•2012
•Bid, Schedule,
and Technical
Factors
Selected
Design-Builder
2013
Issue RFP to Pre-Qualified Teams
Caltrans and RCTC
Agreements
Design-Build Phase:
2012-2017
Addresses…
RCTC’s use of design-build
for design, construction,
utility relocation, property
acquisition, etc.
Defines…
Roles and responsibilities
for each agency for project
funding, design oversight,
quality, inspection, etc.
Caltrans/
RCTC:
Coop.
Agreement Operations &
Maintenance Phase:
2017-2067
Addresses…
RCTC’s 50 years of lease
rights for tolled express
lanes within the corridor
Defines…
RCTC’s use, operation,
maintenance, reporting,
public safety, policing, etc.
Caltrans/
RCTC : Toll
Facilities
Agreement
Environmental Approval
NEPA and CEQA Approval
Time, Effort,
and Money
Preliminary
Engineering
Environmental
Studies
SR-91/SR-71
Interchange Project
Scope
NEW CONNECTOR FROM
EASTBOUND SR-91 TO
NORTHBOUND SR-71
REALIGNMENT OF SR-71
TO ACCOMMODATE NEW
CONNECTOR
NEW GREEN RIVER
ROAD ON-RAMP TO SR-
91
NEW GREEN RIVER ROAD
ON-RAMP TO SR-71
Schedule
2006
Project Study
Report
2008-2011
Environmental
Approval
2012-2014
Final Design &
Property
Acquisition
???
Construction
Funding
Funding
Obligated
State:
STIP-RIP
$5,273,000
Federal:
Earmarks
$13,486,000 Local:
Measure A
$959,000
Cost
•$5,273,000 Environmental
•$11,700,000 Final Design
•$2,745,000 Right-of-Way
•$0 Construction
Questions?
Michael Blomquist, PE
Toll Program Director
ORANGE COUNTY TRANSPORTATION AUTHORITY
91 Express Lanes Toll Gantry Update
Powerpoint
91 Express Lanes Toll Gantry
Update
2
Background
State Route 91 Widening Project from State
Route 55 to State Route 241
Agreement was executed with Federal Signal to
relocate/install the electronic toll collection
equipment in December 2011
Current gantry = full cylinder-shaped gantry
New gantry = cantilever style gantry
3
Milestones
Completion of the structural foundations
Cantilever structure and sign installation
Electronic toll equipment installation
Lane testing
Caltrans removal of the old gantry
4
Project Update
Milestones WESTBOUND EASTBOUND
Foundations Completed 1/10/12 Completed 1/26/12
Structure and Sign Completed 1/20/12 2/12/12
Toll Equipment
Installation
In Progress Pending westbound
Completion
Lane Testing 2/15/12 Estimated 3/15/12
Old Gantry Removal TBD TBD
5
6
7
8
9
10
11
12
13
14
15
Next Steps
Westbound lane testing and Orange County
Transportation Authority (OCTA) approval
Eastbound equipment relocation/installation
Eastbound lane testing and OCTA approval
Estimated project completion – April 2012