Loading...
03 March 21, 2008 SR-91 Advisory83269 JS/JSt./JH/AM/CB STATE ROUTE 91 ADVISORY COMMITTEE AGENDA Date: Time: Friday, March 21, 2008 9:00 a.m. Where: City of Corona - City Hall City Council Chambers - First Floor 400 South Vicentia Avenue Corona, California MEMBERS Jeff Miller Committee Chairman Carolyn Cavecche Committee Vice Chairman Bob Buster Curt Pringle RCTC OCTA Bill Campbell OCTA John Tavaglione RCTC Jerry Amante Frank Hall Ron Roberts OCTA RCTC Committee Alternate RCTC Art Brown Bob Magee OCTA RCTC EX-OFFICIO MEMBERS Michael A. Perovich Caltrans District 8 Cindy Quon Caltrans District 12 Paul Biane SANBAG For further information, please contact Wendy Knowles, Orange County Transportation Authority Clerk of the Board, at (714) 560-5676. HH.35.02 AGENDA State Route 91 Advisory Committee Meeting City of Corona — City Hall City. Council Chambers — First Floor 400 South Vicentia Avenue Corona, California Friday, March 21, 2008, 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 Orange County Transportation Authority 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 The agenda descriptions are intended to give notice to 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. Public Comments on Agenda Items Members of the public wishing to address the Committee regarding any item appearing on the agenda may do so by completing a Speaker's Card and submitting it to the Clerk of the Board. Speakers will be recognized by the Chairman at the time the agenda item is to be considered. A speaker's comments shall be limited to three (3) minutes. Call to Order Committee Chairman Miller Pledge of Allegiance Committee Member Buster Special Calendar 1. Election of New State Route 91 Advisory Committee Chairman 2. Election of New State Route 91 Advisory Committee Vice Chairman Page 1 of 4 AGENDA State Route 91 Advisory Committee Meeting. Consent Calendar (Items 3 through 6) All matters on the Consent Calendar are to be approved in one motion unless a Committee member or member of the public requests separate action on a specific item. 3. Approval of Minutes Of the November 30, 2007, State Route 91 Advisory Committee meeting. 4. Proposed State Route 91 Advisory Committee Meeting Calendar for the Year 2007 Laurena Weinert, Assistant Clerk of the Board, Orange County Transportation Authority, Overview Presented is the proposed State Route 91 Advisory Committee meeting calendar for 2008, depicting the Committee meeting dates for the year. •Recommendation Adopt the State Route 91 Advisory Committee meeting calendar for the year 2008. 5. 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 October 2007, November 2007, December 2007, and January 2008 have been prepared for the 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 October 2007, November 2007, December 2007, and January 2008. Page 2 of 4 AGENDA State Route 91 Advisory Committee Meeting 6. 91 Express Lanes Financial Statements Kirk Avila, General Manager of 91 Express Lanes, Orange County Transportation Authority Overview Mayer Hoffman McCann P.C., an independent firm, has completed its annual audit of the 91 Express Lanes financial statements for fiscal year 2007 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 91 Express Lanes Annual Financial Statements for fiscal year 2007. Regular Calendar There are no Regular Calendar items. Discussion Items 7. Status of State Route 91 Legislation John Standiford, Deputy Executive Director, Riverside County Transportation Commission 8. 91 Express Lanes Video Stella Lin, Manager of Marketing, Orange County Transportation Authority 9. 91 Express Lanes/Foothill-Eastern Transportation Corridor (State Route 241) Connector Feasibility Study Status Report Dan Phu, Section Manager, Orange County Transportation Authority 10. 91 Express Lanes Variable Rate Debt Kirk Avila, General Manager of 91 Express Lanes, Orange County Transportation Authority 11. General Manager's Report 12. Committee Members' Reports 13. Public Comments Page 3 of 4 AGENDA State Route 91 Advisory Committee Meetings 14. Closed Session There is no Closed Session scheduled. 15. Adjournment The next regularly scheduled meeting date of the State Route 91 Advisory Committee will be determined under Item 4 and will be held at the Orange County Transportation Authority Headquarters, 600 South Main Street, First Floor — Room 154, Orange, California. Page 4of4 MINUTES State Route 91 Advisory Committee Meeting Members Present Other Attendees Jeff Miller, Chairman Arthur T. Leahy, OCTA, Chief Executive Officer Carolyn Cavecche, Vice Chair Paul Taylor, OCTA, Deputy Chief Executive Officer Jerry Amante Anne Mayer, RCTC, Executive Director Bob Buster Kirk Avila, General Manager of 91 Express Lanes Bill Campbell Steve DeBaun, RCTC, Legal Counsel Bob Magee Kennard R. Smart, Jr., OCTA, General Counsel Michael A. Perovich Laurena Weinert, OCTA, Assistant Clerk of the Board Curt Pringle Mary Burton, OCTA, Deputy Clerk of the Board John Tavaglione OCTA and RCTC staff and members of the General Public Cindy Quon Members Absent Art Brown Frank Hall Ron Roberts Call to Order The November 30, 2007, meeting of the State Route 91 Advisory Committee was called to order by Committee Chairman Miller at 9:13 a.m. at the Orange County Transportation Authority Headquarters, 600 South Main Street, First Floor — Room 154. Pledge of Allegiance Committee Vice Chairman Cavecche led in the Pledge of Allegiance. Special Calendar There were no Special Calendar matters. Consent Calendar (Items 1 and 2) 1. Approval of Minutes A motion was made by Member Tavaglione, seconded by Member Pringle, and declared passed by those present, to approve minutes of the State Route 91 Advisory Committee meeting of May 18, 2007. Member Amante abstained on this matter. 2. 91 Express Lanes Monthly Status Reports A motion was made by Member Tavaglione, seconded by Member Pringle, and declared passed by those present, to receive and file the 91 Express Lanes Monthly Status Reports for the months of July 2007, August 2007, and September 2007. November 30, 2007 Page 1 of 5 MINUTES State Route 91 Advisory Committee Meetin Regular Calendar 3. Results of 91 Express Lanes 2007 Customer Satisfaction Survey Marcelo Sandoval, OCTA Marketing Program Administrator on the 91 Express Lanes, reported on the survey's methodology and sampling, objectives, customer satisfaction, toll road usage, customer characteristics, toll road extension, communications preference, how transponders were acquired, and key insights. There was additional discussion regarding: • Accidents in the 91 Express Lanes have gone down the past few years. • The rates are raised on a quarterly basis and the adjustments apply to different hours. • The customers prefer that the Express Lanes be kept free flowing. • The main line traffic speeds are slower by eight to ten miles at the county line and could potentially be creating a bottleneck, as customers exist the express lanes. • Committee Chairman Miller requested a presentation of this material at a 111, RCTC Board meeting. A motion was made by Committee Vice Chairman Cavecche, seconded by Member Buster, and declared passed by those present, to direct staff to forward the 91 Express Lanes 2007 Customer Satisfaction Survey to the Orange County Transportation Authority Board of Directors. Discussion Items 4. Update on Express Bus Services between Riverside and Orange Counties Gordon Robinson, OCTA Senior Transportation Analyst, provided an update on the Riverside Transit Agency (RTA) and OCTA express bus services operating along the State Route 91 corridor, proposed OCTA 792/A express service, and cooperative operating agreements. Erin Rogers, OCTA Manager of Community Transportation Services, provided an update on the funding arrangements and proposed funding. November 30, 2007 Page 2 of 5 MINUTES State Route 91 Advisory Committee Meeting 4. (Continued) There was additional discussion regarding: • Member Campbell requested the farebox return for the current RTA and OCTA express services. • Member Pringle requested a review of the 792/A route linkage to the Anaheim Regional Transportation Intermodal Center. • Member Buster requested a cost -per -mile comparison of express bus riders versus Metrolink riders and which service receives the greatest subsidy. • Committee Chairman Miller requested information on how ridership is marketed in Orange and Riverside Counties. • OCTA staff will return to this Committee with an update regarding the finalized 792/A route alignment. 5. Upper Ortega Highway Safety Improvement Project Update Pam Gorniak, Caltrans District 12 Public Information Officer, provided an update regarding roadway improvements, new drainage system, and recent activities on the Ortega Highway safety improvement project. A brochure was also distributed to the Members. There was additional discussion regarding: • Member Magee thanked Caltrans for the public outreach. • Caltrans will have the project completed by January 2009. • There is one direction of travel westbound for the greater demand in the morning and eastbound in the evening. • Cutting back rock walls on 13 curb sections of the 20-mile segment for improved sight lines. • Caltrans District 12 invited the Members to tour the project. Cathy Bechtel, RCTC Project Development Director, provided an update regarding an OCTA/RCTC cooperative operational study for potential improvements on Ortega Highway between Interstate 15 in the City of Lake Elsinore and Antonio Parkway/La Pata in Orange County. The study will be completed in August 2008. November 30, 2007 Page 3 of 5 MINUTES State Route 91 Advisory Committee Meetins 6. State Route 91 Eastbound Lane Addition from State Route 241 to State Route 71 Update Jim Beil, Caltrans District 12 Deputy District Director, provided an update and distributed to the Members an executive progress summary of the project. There was additional discussion regarding: • The project will add an additional mixed -flow lane on State Route from State Route 241 eastbound to the State Route 71. • Green River and Serfas Club Drive projects will be completed prior to this project. • This project is also taking into consideration future lane additions. 7. General Manager's Report Kirk Avila, General Manager of the 91 Express Lanes, reported: • Cameras on the Express Lanes have been installed, and monitors are in the new traffic operations center. An invitation was extended to the Members to tour the new facilities. • Financial statements for the 91 Express Lanes are completed and will go t • the OCTA Board in January 2008. • The next toll adjustment is scheduled for January 1, 2008, and there is no cap on how high the tolls can be adjusted for individual hours. 8. Committee Members' Reports Member Amante announced that the Coastal Commission hearing regarding the 241 toll road extension is scheduled between February 6 and 8, and he distributed a handout regarding support for the extension of the 241 toll road. Committee Chairman Miller reported that RCTC and City of Corona have adopted a support position for the 241 toll road extension. He will testify at the Coastal Commission hearing. Member Campbell thanked the RCTC Board for dedicating $50,000 to a relief fund for fire victims. 9. Public Comments There were no public comments. November 30, 2007 Page 4 of 5 MINUTES State Route 91 Advisory Committee Meeting 10. Closed Session There was no Closed Session conducted. 11. Adjournment The meeting adjourned at 10:23 a.m. The next regularly scheduled meeting of the State Route 91 Advisory Committee is yet to be determined and will take place in Corona, California. ATTEST Laurena Weinert OCTA Assistant Clerk of the Board Jeff Miller Committee Chairman November 30, 2007 Page 5 of 5 RI OCTA March 21, 2008 To: From: Arthur T. Leah , ' ief Executive Officer Subject: Proposed State Route 91 Advisory Committee Meeting Calendar for the Year 2008 Overview State Route 91 Advisory Committee Presented is the proposed State Route 91 Advisory Committee meeting calendar for 2008, depicting the committee meeting dates for the year. Recommendation Adopt the State Route 91 Advisory Committee meeting calendar for the year 2008. Discussion The 2008 State Route 91 Advisory Committee (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 2008 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 2008. Orange County Transportation Authority 550 South Main Street/P.O. Box 14184/Orange /California 92863-1584 / (714) 560-OCTA (6282) Proposed State Route 91 Advisory Committee Meeting Calendar Page 2 for the Year 2008 Attachments A. Pertinent Agencies' 2008 Event and Conference Schedules B. 2008 Meeting Calendar for the State Route 91 Advisory Committee Prepared by: ) eein daurena Weinert Assistant Clerk of the Board (714) 560-5443 • • ATTACHMENT A PERTINENT AGENCIES' 2008 EVENT AND CONFERENCE SCHEDULES THE FOLLOWING DATES WERE CONSIDERED IN PREPARATION OF THE PROPOSED 2008 STATE ROUTE 91 ADVISORY COMMITTEE MEETING CALENDAR: League of California Cities' Legislative Action Days (April 16 - 17, 2008) League of California Cities Mayors' and Council Members' Executive Forum (June 4 - 6, 2008) League of California Cities Mayors' and Council Members' Advanced Leadership Academy (June 6 - 7, 2008) League of California Cities' Annual Conference (September 24 - 27, 2008) League of California Cities' Legislative Briefings (November 2008 - dates TBD) National League of Cities Congressional City Conference (March 8 - 12, 2008) Orange County Board of Supervisors' Board Meetings (Tuesdays) Orange County Transportation Authority Board Meetings (2nd and 4th Monday each month) Riverside County Transportation Commission Commission Meetings (211d Wednesday of the month) South Coast Air Quality Management District Governing Board Meetings (1st Friday each month) Mobile Source Committee (3`d Friday each month) Southern California Association of Governments Executive Committee, Administration Committee, Policy Committees and Regional Council meetings (1st Thursday each month) Southern California Regional Rail Authority (Metrolink) Board Meetings (4th Friday each month) Committee Meetings (2nd Friday each month) ATTACHMENT B 2008 MEETING CALENDAR for the STATE ROUTE 91 ADVISORY COMMITTEE March 21, 2008 (3rd Friday) 9:00 a.m. City of Corona — City Hall City Council Chambers - First Floor 400 South Vicentia Avenue Corona, California May 30, 2008 (5th Friday) 9:00 a.m. Orange County Transportation Authority Headquarters — First Floor, Room 154 600 South Main Street Orange, California August 15, 2008 (3ra Friday) 9:00 a.m. City of Corona — City Hall City Council Chambers - First Floor 400 South Vicentia Avenue Corona, California December 19, 2008 (3`d Friday) 9:00 a.m. Orange County Transportation Authority Headquarters — First Floor, Room 154 600 South Main Street Orange, California • • FA OCTA March 21, 2008 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 October 2007, November 2007, December 2007, and January 2008 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 October 2007, November 2007, December 2007, and January 2008. Background Monthly status reports are prepared to document 91 Express Lanes activity and provided for State Route 91 Advisory Committee review. Discussion The October 2007, status report for the 91 Express Lanes is provided in Attachment A. In October 2007, traffic volume in the 91 Express Lanes decreased 2.3 percent over the same period in 2006, while gross potential toll revenue increased by 5.9 percent over the prior year. The November 2007, status report for the 91 Express Lanes is provided in Attachment B. In November 2007, traffic volume declined by 7.1 percent over the same period in 2006 with gross potential toll revenue decreasing by 1.1 percent. The December 2007, status report for the 91 Express Lanes is provided in Attachment C. In December 2007, traffic volume in the 91 Express Lanes Orange County Transportation Authority 550 South Main Street / P.O. Box 14184 / Orange / California 92863-1584 / (714) 560-OCTA (6282) 91 Express Lanes Monthly Status Reports Page 2 decreased by 10.7 percent over the same period in 2006 and gross potential toll revenue decreased by 5 percent as compared to the prior year. The January 2008, status report for the 91 Express Lanes is provided in Attachment D. In January 2008, traffic volume in the 91 Express Lanes decreased by 12.2 percent over the same period in 2007 and gross potential toll revenue decreased by 6.7 percent as compared to the prior year. Fiscal year 2008 year-to-date (YTD) traffic volume as of the end of January 2008 was down by 4.7 percent with YTD gross potential toll revenue up 1.5 percent. The decrease in traffic volumes and the resulting slowdown in the growth of revenues can be attributed to various factors affecting the regional economy. Gasoline prices are at record levels, gasoline consumption is flat, and the unemployment rate is rising in Orange County. Staff will continue to closely monitor traffic and revenue data and report back to the Advisory Committee regularly. Summary The 91 Express Lanes status report for the months of October 2007, November 2007, December 2007, and January 2008 are provided for review. The report highlights operational and financial activities. Attachments A. 91 Express Lanes Monthly Status Report — As of October 31, 2007 B. 91 Express Lanes Monthly Status Report — As of November 30, 2007 C. 91 Express Lanes Monthly Status Report — As of December 31, 2007 D. 91 Express Lanes Monthly Status Report — As of January 31, 2008 • ATTACHMENT A ocTA Orange County Transportation Authority piss Lacs Status Report October 2007 As of October 31, 2007 Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for October 2007 was 1,231,583. This represents a daily average of 39,728. This is a 2.3% decrease in total traffic volume from the same period last year when traffic levels totaled 1,260,626. A possible cause of the decrease can be the recent wildfires in Southem California. Potential toll revenue for the month was $3,699,870 which represents an increase of 5.9% from the prior year's total of $3,494,650. Carpool percentage for the month was 19.74% compared to the previous years rate of 19.80%. Average hourly revenue per trip is $0.04 or 1.3% less than projected by Vollmer. 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 2007. Current Month -to -Date as of October 31, 2007 (2006/2007 data is for the corresponding month in that fiscal year) Full Toll Lanes 3+ Lanes Total Gross Tri.s Full Toll Lanes 3+ Lanes Total Gross Revenue Average Full Toll Lanes Average 3+ Lanes Average Gross Revenue 988,418 243,165 1,231,583 $3,609,164 $90,705 $3,699,870 $3.65 $0.37 $3.00 986,586 229,229 1,215,814 $3,627,243 $72,929 $3,700,171 $3.68 $0.32 $3.04 1,832 13,936 15,769 ($18,079) $17,777 ($302) ($0.03) $0.05 ($0.04) 0.2% 6.1% 1.3% (0.5%) 24.4% (0.0%) (0.8%) 15.6% (1.3%) 1,010,984 249,642 1,260,626 $3,418,013 $76,638 $3,494,650 $3.38 $0.31 MBE (2.6%) 5.6% 18.4% 5.9% $2.77 8.0% 19.4°% 8.3% The 2007/2008 fiscal year-to-date traffic volume is 0.8% lower than the same period last year. The 2007/2008 fiscal year-to-date revenue is 5.8% higher than for the same period last year and is below Vollmers projections by 5.1 %. Year-to-date average hourly revenue per -trip is $0.15 or 4.9% less than projected by Vollmer. 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 2007 through October 2007. Fiscal Year 2007/2008 to Date as of October 31, 2007 (2007/2008 data is for the period July 1, 2007 through October 31, 2007; 2006/2007 data is for the corresponding period in that fiscal year) Full Toll Lanes 3+ Lanes Total Gross Trigs Full Toll Lanes 3+ Lanes Total Gross Revenue Average Full Toll Lanes Average 3+ Lanes 3,822,450 3,889,571 (67,121) 1,053,184 4 875,634 988,414 4,877,986 $13,751,514 $14,551,143 64,770 2.352 ($799,629) $344,183 $294,371 $49,812 $14,095,697 $14,845,514 ($749,818) I $0.30 $3.74 I ($0.14 $0.03 $3.60 ) $0.33 $3.04 ($0.15 Average Gross Revenue $2.89 ) (1.7%) 6.6% 0.0% 3,880,145 1,035,295 4,915,440 (5.5%) $13,024,578 16.9% $303,699 (5.1%) $13,328,276 (3.7%) $3.36 10.0% $029 (4.9%) $2.71 (1.5%) 1.7% (0.8%) 5.6% 13.3% 5.8% 7.1 % 13.8% 6.6% • • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a month basis. Fiscal Year 2007-2008 Traffic Volume Overview Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Month The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a monthly basis. $3,630,000 $3,450,000 lg $3,270,000 m ct, $3,090.000 $2,910,000 $2,730,000 $2,550,000 Fiscal Year 2007-2008 Revenue Summary 94,132 83,896 3,613,260 3,322,519 75,450 li 13,609,164` 3,200,788' Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 - Mar-08 Apr-08 May-08 Jun-08 Month ■ Full Toll Lanes B 3+ Lanes Forty-nine times during the month of October 2007, peak hour eastbound traffic as reflected in the chart below exceeded 90% or more of defined capacity, with the highest volume at 107% of defined capacity on Wednesday, October 3`d, during the 3:00 pm hour. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 87% of defined capacity. EASTBOUND PEAK -HOUR VOLUMES • Monday 10/01107 Tuesday 10/02/07 Wednesday 10/03107 Thursday 10/04/07 Friday 10/05/07 PM Tune :,R,fMA.. ,.. P�P� xa.l- ,»�.: ,. s�� �xR*+7"4 •-, .: _: 1400-1500 $3.80 238 1,807 53% 53.80 269 2,318 68% $3.80 256 2,162 64% $3.90 258 2,283 67% $5.10 405 2,993 88% 1500 -1600 $4.10 501 2,948 87% 14.70 -619 : 3,413 ,100% 54.95"=, 521 3,628 a 107Y. - 05-, 328 . ,9.089 1600-1700 56.85 470-� 3055 904"; 18,00 482'�` 8.079 <3tm' um `.511 ,3,278 =.'95% $925 513 2,992 88% =$9.50 .'<487, ,13,088 91%i`: 1700-1800 $665 412 2,893 85% $8.50 438 2,932 86% $8.50 451 2,989 88% $9.25 467 2,936 86% $8.00 464 3,016 899$ 1800-1900 $4.10 514 2,948 87% $5.45 441 2,600 76% $4.95 494 2,985 88% 45175,.,,545 •-�,`3,067;.. �00%'i $4.90 480 2,925 86% 1900-2000 $2.90 321 1,738 51% $2.90 382 2,112 62% $2.90 364 2,172 64% $4.15 393 2,323 68% $4.55 459 2462 72% Monday 10/08107 Tuesday 10109/07 Wednesday 10/10/07 Thursday 10/11107 Friday - 10/12/07 PM Time t` .. ° .„ Y " ram' -. WN, � r -.. v _� :, # ..� .r7�Gl!+%"` ... 1 0..... N . " ,9A5 1400-1500 $3.80 283 2,040 60% 53.80 239 Z033 60% $3.80 287 2,157 63% $3.90 287 2368 70% $5.90 385 3,154 93%:"- 1500-1600 $4.10 527 2,931 86% �$1,70 nS08- 8,097 91%- $495 525 3023 89% 1L9.'5 510 SA62 91%,192 . 800 t1,116 `92%'�: 1600-1700 $6.85 467 2,870 84% s$0.p0 497�>,110 319. 2% $1.50. ,; 525_, 3, 3% 39.25-• 4B2 3,122 92% $950 497 2,997 88% 1700-1800 $6.65 426 2,922 86% ;a.50 470'?' 7,071 90% $8.50 478 2,999 88% 70., $,p91 91% 40,00 y463, 12,061 90%'I, 1500-1900 $4.10 439 2,813 83% 4354. 6'3,198 W%r" $1.95 517 2,964 87% $575 494 3,034 69% 54.90 550 3,003 88% 1900.2000 $2.90 338 2,062 61% 5290 362 z570 76% $2.90 334 1,872 55% $4.15 380 2,280 67% $4.55 418 2,117 62% PM Time 1400 -1500 1500 -1600 1600-1700 1700 1800 1800 -1900 1900-2000 Monday 10/15/07 $3.80 245 1,876 55% $4.10 496 2,997 88% 66-65' 524 2,785 82% $2.90 279 1,664 49% $4.10 Tuesday 10116107 59 % 89 % 9495 92 5.1% $2.90 303 2058 61% 53.80 222 1,995 3,025 Wednesday 10117/07 $3.80 236 14.951 $8.50 464 $2.90 387 64% Thursday 10/18107 $9.25 433 2,759 $539 + 528 ; 077. $4.15 465 2.695 81% 79% Friday $5.10 $9.25 59.50 $8.00 $4.90 $4.55 395 531 521 527 518 502 10/19107 II 9, " Pi 88 84% 89% 990 88% 94a e7% 2,9 96 2856 3.0 11 2 z z 221 65% Monday lama Tuesda�y 10/23M7 Wednesday 10/24107 Thursday 10125/07 Friday 1O126/07 - PM Time wFPA- ��^� .... .* +e '°-?'. y ' .°*K3' r p.- .. -Fw. N r $` •, , '-'!,4105i - < ...,..� to ....., `:.�,_ 1400-1500 $3.80. 263 2,583 - 76% 83.80 228 2083 61% $3.80 237 2,120 62% $3.90 266 2,362 69% $5.10 392 2898 85% 1500 1600 ,Sd.10 519 3' 62 r 90%:? $470 521 2,990 88% $4.95-: ",',582 :•3'1 939 34.95, 553 3,217 9686 5915 `502 "•;. 3,1T7 ' 93%aa, 1600-1700 S6.55 489-, :.596 ,K97%- Q$&W 'JMI, 3,090... 91%; $8.50. 458 2,973 87% $92Sy 532 3113 92%'= $950 493 z936 86% 1700-1800 $6E5 389 2,817 83% $8.50 458 2,754 81% $8,50 446 2,854 84% ;925 519,x •. 9,061 " 90%a -58.00 ^3,051'•' 90% 1800.1900 $4.10 432 2,391 70% $5.45 458 2,700 79% $4.95 462 2648 7895 $5.75 482 2,826 83% $4.90 426 2,490 73% 1900-2000 $2.90 298 1,643 48% $2.90 311 1,746 51% $2.90 331 1,771 52% $4.15 368 1,964 58% $4.55 407 1,856 55% PM Time 1400 -1500 1500 -1600 1600-1700 1700 -1800 1800 -1900 1900 -2000 Monday 10129/07 $3.80 233 $6.05 •:18.65�-: i. $4.10 $2.90 318 1,640 48% 494 1,915 56 % 2,758 81% Tuesday 10130/07 $3.80 244 2,030 60% $4.70 503 2979 88% 52.90 357 2,009 59% Wednesday 10/31107 53.80 311 2,488 73% $4.9 $2.90 186 1,301 38% Thursday 11/01/07 Friday 11/02/07 WESTBOUND PEAK -HOUR VOLUMES Monday 10101107 Tuesday 10102/07 Wednesday 10/03/07 Thursday 10/04107 Friday 10/05/07 AM Tuna „�-�2,>. rPrlceF1407 .� Y,of, =Yalgr.�"t, ,,:` _ ..RB.,���x :�«� 11 s`�e±F�.*�}M?.:: . ,3.. _$71.f;: �. , --_04 0400 0500 $2.25 253 756 22% $2.25 261 716 21% $2.25 276 749 22% $2.25 284 756 22% $225 231 664 20% 0500-0600 $3.70 433 1,526 45% $3.70 526 1,606 53% $3.70 517 1,825 54% $3.70 538 1,915 56% $3.55 460 1,669 49% 0600-0700 $3.80 534 2,275 67% $3.80 525 2,288 67% $3.80 557 Z388 70% $3.80 499 2,103 62% $3.70 495 Z022 59% 0700-0800 $4.20 532 2,281 67% $4.20 514 2,279 67% $4.20 460 2,080 61% $4.20 500 2,222 65% $4.10 469 2,125 63% - 0800 - 0900 $3.80 223 1,989 59% $3.80 189 1,691 56% $3.80 217 1,832 54% $3.80 229 1.907 56% $3.70 221 1,704 505$ 0900-1000 $3.05 164 1,543 45% $3.05 174 1,524 45% $3.05 165 1,455 43% $3.05 174 1,666 49°% $3.05 183 1,248 37% Monday 10/08/07 Tuesday 10/09107 Wednesday 10110107 Thursday 10717/07 - Friday 10112M7 AM Time gL�C,aO'•; tIsIW's�";�J1IIVi!`!.GP� 71Fs-. � . ildL., �a�+e��,+1_�NG2x.,4`, 0400 0500 $2.25 244 712 21% $2.25 264 781 23% $2.25 276 735 22°% $2.25 V3 716 21% $2.25 236 672 20% 0500.0600 $3.70 468 1,801 53% 53.70 491 1,893 56% $3.70 516 1,899 56% $3.70 495 1,774 52% $3.55 477 1,868 55% 0600-0700 53.80 513 2,132 63% $3.80 525 2,270 67% $3.80 535 2,309 68% $3.80 461 1,950 57% $3.70 532 2,149 63% 0700 -0800 $4.20 422 1,866 55% $4.20 478 2,178 64% $4.20 487 2,187 64% $4.20 558 2,414 71% $4.10 426 1,876 55% 0800-0900 $3.80 193 1,410 41% $3.80 200 1,856 55% $3.80 246 1,869 55% $3.80 245 2,177 64% $3.70 212 1,464 43% 0900-1000 $3.05 166 1,166 34% $3.05 185 1,463 43% $3.06 195 1,523 45% $3.05 189 1,475 43% $3.05 - 155 1,152 34% Monday 10115/07 Tuesday 10116107 Wednesday 10/17107 Thursday 10118107 Friday 10/19107 A81 Time 4.pr`d'i'NWg(al. .1',1pi;P.ik@ V.". 1"'`'"CNdP.'P.�.' 6400-0500 $2.25 262 766 23% $225 259 749 22% $2.25 266 694 20% $2.25 273 752 22% $2.25 231 648 19% 0500-0600 $3.70 470 1,890 56%. $3.70 449 1,757 52% $3.70 493 1,887 56% $3.70 535 1,923 57% $3.55 482 1,784 . 52% 0600-0700 $3.80 496 2,204 65% $3.80 521 2,137 63% $3.80 552 2,413 71% $3.80 554 2,364 70°% $3.70 537 2,208 65% 0700-0800 $4.20 465 2,242 66% $4.20 429 2,053 60% $4.20 443 2,220 65% $1.20 467 2,174 64% $4-10 431 1,785 53% 0800-0900 $3.80 203 2,155 63% $3.80 224 1,741 51% 53.00 203 1,669 49% $3.80 222 1.772 52% $3.70 222 1,649 46% 0900-1000 $3.05 173 1,428 42% $3.05 147 1,302 38% $3.05 151 1,347 40% $3.05 178 1,434 42% $3.05 177 1,198 35% Monday 10127/07 Tuesday 1O123/07 Wednesday 10/24107 Thursday 10125107 Friday 10126/07 , AM Time -. �.$ CFI/!/„ . ..: �'�:iP �x�P�O�s+..--ice.;^. Pit. ; EN 'ii 91,GI1� 0400 0500 $2.25 271 865 25% $2.25 277 836 25% $2.25 276 746 22% $2.25 270 745 22°% $225 238 684 20°% 0500-0600 $3.70 405 2,290 67% $3.70 507 2,196 65% $3.70 488 1,978 68% $3.70 516 1,957 5B% $3.55 467 1,743 51% 0600-0700 $3.80 521 2,934 86% $3.80 580 2,662 78% $3.80 526 2,457 72% $3.80 564 2,403 71% $3.70 537 2,260 66% 0700-0800 $4.20 514 2,970 87% $4.20 434 2,359 69% $4.20 487 Z300 68% $4.20 497 2375 70% $4.10 433 2,098 62% 0800-0900 $3.80 283 2,174 64% $3.80 159- 1,818 53% $3,80 224 1,863 55% $3.80 200 1,775 52% $3.70 228 1,433 42% 0900-1000 $3.05 225 2,512 74% $3,05 157 1,406 41% $3.05 160 1,545 45% $3.05 163 1,364 40% $3.05 195 1,291 38% Monday 10/29107 Tuesday 10/30107 Wednesday 10131107 Thursday 11011/07 Friday 11102/07 AM Time ip { ,- .' APB`'. .„0 0409-0500 $2.25 261 783 23% $225 251 715 21% $2.25 260 721 21% 0500 -0600 $3.70 485 1,929 57% $3.70 505 1,821 54% $3.70 525 1,849 54% 0600.0700 $3.80 537 2,346 69% $3.00 539 2,352 69% $3.80 551 2,332 69% 0700.0800 $4.20 461 2,168 64% $4.20 482 2,138 63% $1.20 451 2,151 63°% 0800.0900 $3.80 207 1,728 51% $3.80 202 1,850 54% $3.80 227 1,704 50°% 0900 .1000 $3.05 156 1,243 37% E3.05 166 1444 42% $3.05 160 1,351 40% ". 6 Customer Service and Violations Processing Customer service and Processing activities at OCTA's operating contractor, Cofiroute USA, continued at a busy and productive rate. In October, the Customer Service Center received 34,005 incoming calls. All performance levels specked in the operating contract were well within established standards. Incoming E-mail Activity During October, the Anaheim Processing Center received a total of 4,132 e-mails, with a year-to- date total of 17,253 e-mails. Incoming Call Activity CALL CENTER AC TI VITY Representatives Answered I VR Answered Abandoned Calls Total Incoming Calls: October-07 September-07 FY l Total Calls %of Total Total Calls %of Total Average I 19,212 56.5% 13,792 40.6% 1,001 2.9% 34,005 16,772 54.1% 13,180 42.5% 1,027 3.3% 30,979 19,363 14,447 1,019 34,829 Performance Measures REPORTING REQUIREMENT CUSTOMER SERVICE Call Wait Time Abandon Rate Customer Satisfaction Convert Violators to Customers Convert Violators to Customers { Reporting Period monthly Monthly mostly ouatay Anrualy PERFORMANCE STANDARD i Not to exceed 120seconds No more than 4.0% At least 75 outbound calls 8.0%or more 10% or more Oct'O7 € c Performance e 87 2.9% 77 VIOLATION PROCESSING Response Time nronwy within 2 business days of receipt 1.0 CUSA Violation Collection Rate Qua ory 70% or more Quarterly CUSA Violation Collection Rate Anrualy 74% or more Annually w TRAFFIC OPERATIONS Initial & Secondary Reviews witty = to or less than 15 days 2 'Plate Msread Errors mostly = to or less than 0.4% 0.1% CAP Response Time moumy 20 minutes per call 13 ACCOUNTING Exceptions Mouthy No more than 3 0 INFORMATION TECHNOLOGY TollPro Uptime Writtly 99% Availability 100% Network Uptime Monthly 99% Availability 100% ' Plate tvfsread Error performance Is accumulated over a 60-day period. Percentage reported is for August 2007 • • • Transponder Distribution Status The 91 Express Lanes has experienced continued growth in the number of drivers using the facility since its inception. The steady growth can be measured by the number of transponders in circulation each year. At the end of October 2007, the 91 Express Lanes had 120,118 active customer accounts, with 177,739 transponders assigned to those accounts. Total transponders available for distribution amounted to 6,324 transponders. TRANSPONDER DISTRIBUTION Issued To New Accounts October-07 September-07 FY October-07 Tags %of Total Tags I %of Total Average 999 332% 841 31.5% 1,025 Additional Tags to Existing Accounts 656 21.8% Replacement Transponders 1,351 44.9% Total issued; 3,006 Retumed Account Cl osures Accounts Downsizing Defective Transponders Total Returned 558 20.9% 1,272 2,671 47.6% 672 1,359 3,056 616 ! 28.7% 622 32.3% 648 194 9.0% 138 7.2% 169 1,335 622% 1,167 60.6% 1,258 2,145 1,927 2,074 TRANSPONDER INVENTORY STATUS Internal External Total TRANSPONDERS ON HAND: Available for Distribution: Customer -Returned Tag Classification 1. Under Warranty - Return to Sirit: 2. Out of Warranty - Destroy: 3. Not yetC lassified: Total Transponders On -hand: 6,161 163 6,324 0 2,202 ........ ..... 201 8,727 TRANSPONDERS CURRENTLY ASSIGNED TO ACTIVE ACCOUNTS: 177,739 125,000 105,000 85,000 65,000 45,000 25,000 0199601597 D 19980199915 200012 2001 E1 2002 0 200315 20040 20050 20060 20070 2008 History of Growing Number of Accounts by Fiscal Year As of October 31, 2007 Operational Highlights On -road Operations Customer Assistance Specialists (CAS) responded to 176 calls during October. The CAS team received 94 calls to assist disabled vehicles, 47 calls to remove debris and conducted 25 assists or traffic breaks. There were 5 accidents in the Express Lanes and 5 accidents in the general- purpose lanes. Projects Update • In -lane Cameras Replacement The In -lane Cameras Replacement project is nearly completed with the exception of a few punch list items. All new cameras and screens are operational and in use. Drafting of the final acceptance plan commenced in late August. The contractor is working with Caltrans to establish connectivity to Caltrans' Transportation Management Center. When all remaining equipment have been installed, final acceptance testing will begin. • Traffic Operations Center In April, construction of the new Traffic Operations Center (TOC) began. Project punch list items, including signage and training for the fire suppression system, have been identified and full project completion is expected for November 2007. • Telephone Replacement An agreement with Integrated Technology was executed in May 2007 for the replacement of the 91 Express Lanes' telephone system. The new system will be a Norte! based solution which is similar to the standardized telecommunication systems currently utilized by OCTA. Staff, in conjunction with Cofiroute, is currently working on the Interactive Voice Response (IVR) component. It is anticipated training for the new phone system and final acceptance testing will commence in November. The project should be completed by the end of the calendar year. Manes ss 9 • Financial Highlights 91 Express Lanes Operating Statement YTD as of October 31, 2007 YTD Variance Description Actual Bud et Dollar $ [ Percent (%) Operating revenues: Toll revenue 13,274,970.65 $ 13,371,541.00 $ (96,570.35) (0.7) Fee revenue 2,889,756.41 2,478,379.00 411,377.41 16.6 Total o erating revenues 16,164,727.06 15,849,920.00 314,807.06 2.0 Operating expenses: Contracted services 1,923,540.62 1,997,880.00 74,339.38 3.7 Administrative fee 534,572.92 837,428.00 302,855.08 36.2 Other professional services 331,153.22 513,584.00 182,430.78 35.5 Credit card processing fees 385,685.57 366,300.00 (19,385.57) (5.3) Toll road account servicing 235,743.00 341,325.00 105,582.00 30.9 Other insurance expense 132,154.12 125,000.00 (7,154.12) (5.7) Toll road maintenance supply repairs 106,335.98 152,181.00 45,845.02 30.1 Patrol services 141,925.04 139,860.00 (2,065.04) (1.5) Building equipment repairs and maint 119,739.48 524,125.00 404,385.52 77.2 Other services 1,871.00 76,665.00 74,794.00 97.6 Advertising fees 24,550.54 48,250.00 23,699.46 49.1 Utilities 4,229.77 43,966.00 39,736.23 90.4 Office expense 28,738.01 173,143.00 144,404.99 83.4 Bad debt expense 144,331.31 - (144,331.31) N/A Miscellaneous 63,257.41 75,955.00 12,697.59 16.7 Leases 161,666.25 137,364.00 (24,302.25) (17.7) Property taxes - - - N/A Depreciation and amortization 3,116,885.74 - (3,116,885.74) N/A Total operating expenses 7,456,379.98 5,553,026.00 (1,903,353.98) (34.3) Operating Income (loss) 8,708,347.08 10,296,894.00 (1,588,546.92)1 (15.4) Nonoperating revenues (expenses): Interest income 1,017,768.13 981,684.00 36,084.13 3.7 Interest expense (3,663,251.28) (3,875,751.00) 212,499.72 5.5 Other 7,020.32 17,882.00 (10,861.68) 60.7 Total nonoperating revenues (expenses) (2,638,462.83) (2,876,185.00) 237,722.17 8.3 Transfers in - - - N/A Transfers out - (785,880.00) 785,880.00 100.0 Net Income (Ioss)I $ 6,069,884.25 I $ 6,634,829.00 I $ (564,944.75)1 (8.5) Capital Asset Activity During the four months ending October 31, 2007, capital asset activities included approximately $89,398 related to the purchase of communication equipment, $195,305 for the purchase of transponders and $9,793 related to the purchase of computer equipment. ATTACHMENT B OCTA Orange County Transportation Authority Express Lanes Status Report November 2007 As of November 30, 2007 • Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for November 2007 was 1,126,521. This represents a daily average of 37,551. This is a 7.1 % decrease in total traffic volume from the same period last year when traffic levels totaled 1,211,993. Potential toll revenue for the month was $3,291,939 which represents a decrease of 1.1% from the prior year's total of $3,327,114. Several accidents, including one fatality, that occurred during the peak hours may be contributors to the decrease. Carpool percentage for the month was 21.63% compared to the previous year's rate of 20.83%. Average hourly revenue per trip is $0.12 or 3.9% less than projected by Vollmer. 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 2007. Current Month -to -Date as of November 30, 2007 (2006/2007 data is for the corresponding month in that fiscal year) 'r ; t';� Full Toil Lanes 882,817 930,443 (47,626) (5.1%) 959,573 (8.0%) 3+ Lanes 243,704 238,643 5,061 2.1% 252,420 (3.5%) Total Gross Trips 1,126,521 1,169,086 (42,565) (36%) 1,211,993 (7.1%) $3,257,426 (1.3%) Full Toll Lanes $3,215,570 $3,490,214 (5274,644) (7.9%) 3+ Lanes $76,369 $67,657 $8,711 12.9% $69,689 9.6% Total Gross Revenue $3291 939 $3,557 871 (S265,933) (7 5%) $3 327114 ,. _ (1.1%) Av�aer:.,rs,- Rea'x... <r �a9sdi>tenue=+ � - _.. •>, -,� •:. fa',� :_' ' [<. x."k $3.39 '�' `. *tuw", 7.4% Average Full Toll Lanes $3.64 $3.75 (80.11) (2.9%) Average 3+ Lanes $0.31 $0.28 $0.03 10.7% $0.28 10.7% Average Gross Revenue $2.92 $3.04 ($0.12) (3.9%) $2.75 62% The 2007/2008 fiscal year-to-date traffic volume is 2.0% lower than the same period last year. The 2007/2008 fiscal year-to-date revenue is 4.4% higher than for the same period last year and is below Vollmer's projections by 5.5%. Year-to-date average hourly revenue per -trip is $0.14 or 4.6% less than projected by Vollmer. Fiscal year-to-date traffic and revenue data are summarized in the table below. The following trip and revenue statistics tables represent all trips taken on the 91 Express Lanes and associated potential revenue for the months of July 2007 through November 2007. Fiscal Year 2007/2008 to Date as of November 30, 2007 (2007/2008 data is for the period July 1, 2007 through November 30, 2007; 2006/2007 data is for the corresponding period in that fiscal year) Ti p$ «s # s 1 �(jYr� ¢iiC 0) ° f ft ' . t� y. , "z jy a; Y�. Y. �4 .s`v ..af .g„ d1 B <I( ,� a Wit 4 4 w 1 +fit` Y Xwr+-f Q'Y - -9 Full Toll Lanes 4,705,267 4,820,014 (114.747) (2.4%) 4,839,718 (2.8%) 3+Lanes 1296,888 1,227,057 69,831 5.7% 1,287,715 0.7% Total Gross Trips 6,002,155 6,047,071 (44,916) (0.7%) 6,127,433 (2.0%) riBYO .$ UB _ . ni _ "'^ee"1 �*' .,. a` .'_. ate' . <B `h� '' , . � +.,w .-- :� c° .rwu . as��-. tia ra �. e'�"a '�Z' z Full Toll Lanes $16,967,084 $18,041,357 ($1,074,273) (6.0%) $16,282,003 4.2% 3+Lanes $420,552 $362,029 $58,523 16.2% $373,388 12.6% Total Gross Revenue $17,387,636 $18,403,386 ($1,015,750) (5.5%) $16,655,391 4.4% Average Full Toll Lanes $3.61 $3.74 ($0.13) (3.5%) $3.36 7.4% Average 3+ Lanes $0.32 $0.30 $0.02 6.7% $029 10.3% Average Gross Revenue $2.90 $3.04 ($0.14) (4.6%) $2.72 6.6% g 3 • • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a month basis. Fiscal Year 2007-2008 Traffic Volume Overview Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Month The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a monthly basis. $3,630,000 $3,450,000 $3,270,000 u K $3,090,000 $2,910,000 $2,730,000 $2,550,000 Fiscal Year 2007-2008 Revenue Summary 3,618,260 3,322,519 75,450 I 76.369 3,609,164,I 3,200,788'113,215,570 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Month ■ Full Toll Lanes ■ 3+Lanes Feb-08 Mar-08 Apr-08 May-08 Jun-08 Thirty-eight times during the month of November 2007, peak hour eastbound traffic as reflected in the chart below exceeded 90% or more of defined capacity, with the highest volume at 101% of defined capacity on Wednesday, November 7"', during the 3:00 pm hour. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 74% of defined capacity. EASTBOUND PEAK -HOUR VOLUMES • Mondry 1089/07 Tuesday 10130107 Wednesday 10/31107 Thursday 11101107 Friday 11/02/07 PM Time ``PiIC9 1:1* .Yal '+t P1p ` a 'r. a "'".:°' �` ., o ,z 1400 1500 r'", c 5.=�s• .�' r *r, �, $390 278 2418 71% $510 393 ''$046 90%;:. 1500 1600:, ,„ ,k-ss f $4551 597 3,236 85%25 601 3,243 95%". 1600 1700 ' q n ,'. f - siyk ib •; � �€ r ^`'z; �. s� xz..'`ae• ,.y# f�� $925- 496 -3,180 93%� $9.50 500 .:3,089 .. 91% 1700 1800 1800 1900 �.. .ram ' # ..�f ., 7 T :?'.55.7 � 7 '3". --. ,.y . $915,= 494 557 3. 55 3,182 93% ='93%�" .SSAO $4.90 553 543 <, 3131 _ 2864 92%„. 84%.. 1900 2000�, $4,15 356 2,045 60% $4.55 465 2061 61% PM Time Monday 11105/07 Tuesday 11/06/07 Wednesday 11/07M Thursday 11/08/07 Friday 11/09/07 1400-1500 1500- 1600 1600- 1700 1700 1800 1800 - 1900 1900- 2000 $3.80 $4.10 $6.85 '$6.65 $4.10 $2.90 271 2,055 511 3,033 467 Z937 N6 , :3,292 529 2,802 310 1,594 47% 60 % 89% 86% 82% 259 509 467 $3.80 54.70 $8.00 30.50`` 2,095 2,980 3,029 62% 88% 89% 9S% 90%'. 1,757 52% $3.80 288 $4.95;; 5850_• $8.50 206 54.95 148 $2.90 161 2,320 fib% .448 .,: 101%, 1,111 33% 892 26% 996 29% 3,11 $4.15 338 1,870 55% $5.10 420 3,035 89% 5935 588 n;3,099 91%=` 50% S $8.00 484 2,801 82% $4.90 507 2,610 77% $4.55 421 1,908 56% Mondry 11/12/07 Tuesday 11113107 Wednesday 11114107 Thursday 11/15107 Friday 11116/07 PM Time V1ktl�, :._ _- . !.. ,,.r7,"K'r1?Na *` .,v i7 .x ... .41+14e .. ,. _... =...... �'4ak�'F�4.'�C!&?�. � �w,a,. .�- e'tii .F-�,ira4' 7�1%;� ,4LfiaP•a 1400- 1500 $3.80 345 1,779 52% $3.80 265 2,075 61% $3.80 287 2,202 65% $3.90 242 2,038 60% $5.10 372 2,934 86% 1500-1600 04.10 493 2,484 73% ',54.70 ;595 y,•3,143 ,.9291 54.95:.536 .3,381 ;,;-. 99% $4.95 514 2,971 87% 5925 :605 `.-,.2,126 ,92%,I 1600- 1700 $6.85 389 2,307 613% $8.00 456 2,899 85% $8.50 440 2,985 88% $925`` 558 3,250 96% $9 50 492 2,988 88% 170D- 1800 $6.65 488 2818 83% $8.50 429 2,731 80% 3150 f<512 , 3,075.,' 90% $825` 504 ..3,2' 14%' .38A8 , 1800-1900 $4.10 473 2,513 74% $5.45 555 2,922 86% $495 560 2,954 87% $5.75 559 2,928 66% $4.90 553 2,808 83% 1900-2000 $2.90 360 1,342 39% $2.90 436 2,745 81% $2.90 344 1,975 58% $4.15 379 2,073 61% 54.55 421 1,966 58% Monday 11/19/07 Tuesday 11/20/07 Wednesday 1112 id17 Thursday 11127707 Friday 11/23107 PM Time €Pr1Ep„�},1011 Yc1." d°sz `..` t 5 0.1 _'R a:: �..., p '; 311!N"� p��� 1400.1500 $3.80 285 $D10 59% . 53.80 384 ,r.Y0 2,469 73% 1550 ,1518 3,148 ;'97%; $3.90 464 1,488 44% $3.70 310 1,161 34% 1500 1600 $410 511 2,738 81% $4.70 536 2,898 85% 56$5'1.' S52 3178 :83%j $3.70 405 1,149 34% $3.70 321 1,268 37% 1600-1700 �$6.85 505 7%5,753 93%' $8.00 490 2,767 81% $6.35 536 3,016 89% $3.70 442 1,119 33% $3.70 410 1,324 39% 1700 1800 46.65 529. ±y3,1 p3 111%e; $8.50 451 2838 83% $6.35 513 2.561 78% $3.70 563 1,363 40% $3.70 318 1,132 33% 1800-1900 54.10 535 2,773 82% $5.45 516 2,899 85%, $4.50 437 2,024 60% $3.90 652 1,377 41% $3.70 292 904 27% 1900-2000 $2.90 422 1,834 54% 52.90r;?.„-032 1; "3,043, r 90%`s' 54.30 430 1,583 47% $3.90 756 1,517 45% $3.70 286 763 22% Monday 11/26/07 Tuesday 11/27107 Wednesday 1128/07 Thursday 11129107 Friday 1113 7 PM Time; �HOV, «sTsO„17�'T �.r�> 1400- 1500 $3.80 244 1,960 58% $3.80 250 2,040 60% $3.80 251 2,117 62% 53.90 266 2.348 69% $5.10 1 14 0% 150D- 1600 $4.10 497 2,917 86% ,54.70 t532. 122 '9W% 54.95 »540 31� 0i% ';�p1.0q5� ; 566• 3,325 9816_ $9.25 43 238 7% 1600-1700 $6.85 460 2,961 87% $800 459 3021 89% $8.50"505 3074< 90% r5925: 518x 8149 93 $9.50 415 2,705 80% 1700.1800 $6.65 489 3828 89% :50.50.. 317-z 9D47 r90°�;_ $8.50 619 2,977 88% 25`�,522- 01, 90%* $8.00 458 2,925 86% 1800-1900 $4.10 507 2,624 77% $5.45 566 2,990 88% $4.95 573 3,041 89% $5.75 501 2,760 81% $4.90 471 2,420 71% 1900-2000 $290 281 1,503 44% $2.90 299 1,730 51% $2.90 307 1,899 56% $4.15 311 1,838 54% $4.55 334 1,619 48% WESTBOUND PEAK -HOUR VOLUMES AM Time 0400-0500 0500- 0600 0600- 0700 0700- 0800 0800- 0900 0900- 1000 Tuesday 10/30/07 Wednesday ion 1/07 Monday 1029/07 *o: Th aiday 11/01107 L Friday 11102/07 $225 $3.70 $3.80 54.20 $3.80 53.05 251 377 394 591 285 183 747 1,358 1,614 2,440 2,152 1,922 22% 40% 47% 72% 63% 57% $2.25 $3.55 $3.70 $4.10 $3.70 $3.05 222 441 493 432 240 210 659 1,750 1,953 1,831 1,846 1,497 19% 51% 57% 54 54% 44% Mondry 11075/07 Tuesday 11/06107 Wednesday 11/07/07 Thursday 111U/07 Friday 1110'3107 AM Ti me A '4 W �,..s2f��� yy� y€• ?}R1�..?s Is '&.ii �R1 04D0 0500 .sP,!19f.x>'NOYde $2.25 280 827 : 24% $2.25 256 778 -23% $2.25 278 772 23% $2.25 274 754 22%'7$225 244� 667 20% 0500-0600 $3.70 485 1,876 55% $3.7D 520 1,885 55% $3.70 481 1,842 54% $3.70 495 1,890 56% $3.55 445 1,808 53% 0600-0700 $3.80 551 2,430 71% $3.8D 547 2,379 70% $3.80 603 2,425 71% $3.80 593 2,370 70% $3.70 549 2,304 68% 0700-0800 $4.20 453 Z129 63% $4.20 474 Z203 65% $4.20 453 2,092 62% $4.20 464 2,169 64% $4.10 379 - 1,718 51% 0800-0900 $3.80 198 1,694 50% $3.80 193 1,839 54% $3.80 219 1,837 54% $3.80 203 1,612 47% $3.70 201 1,366 40% ONO -1000 $3.05 174 1,324 39% $3.05 180 1,483 44% $3.05 169 1,475 43% $3.05 186 1,317 39% 53.05 175 1,136 33% Monday 11112707 Tuesday 11/13107 Wednesday 11/14707 Thursday 11115/07 Friday 11N6107 0.M Time �FfiCiPlf� ,, :. � �. .. �.� a» 0400-0500 $2.25 207 566 17% $2.25 275 823 24% $2.25 286 790 23% $225 292 896 26% $2.25 265 778 23% 0500-0600 $3.70 355 1,434 42% $3.70 511 2,271 67% $3.70 535 2,024 60% $3.70 517 2,296 68% $3.55 380 1,474 43% 0600-0700 $3.80 313 1,473 43% $3.80 580 2,511 74% $3.80 596 2,489 73% $380 575 2,501 74% $3.70 517 2,047 60% 0700-0800 $4.20 214 1,155 34% $4.20 489 2,277 67% $4.20 437 2,151 63% $4.20 489 2,381 70% $4.10 462 2.029 60% 0800-0900 $3.80 198 1,152 34% $3.80 214 1,882 55% $3.80 214 1,864 55% $3.80 255 2,024 60% 53.70 263 1,933 57% 0900-1000 $3.05 251 1,087 32% $3.05 192 1,480 44% $3.05 158 1,398 41% $3.05 209 1,547 46% $3.D5 190 1,276 38% Monday 11/19107 Tuesday 1120/07 Wednesday 11121107 Thursday 11122107 Friday 11/23/07 AM Ting :'x�_..A.- ., u•�.`.ma"w 0> ...- 0400 • 0500 $2.25 268 823 24% $2.25 271 766 23% $2.25 252 724 21% $1.20 22 41 1% $420 47 130 - 4%+ 0500-0600 $3.70 472 1,901 56% $3.70 498 1,818 53% $3.80 428 1,635 48% $1.20 34 71 2% $1.20 86 294 9% 0600-0700 $3.80 517 2,286 67% $3.80 556 2,249 66% $3.90 484 Z035 60% $1.20 44 124 4% $1.90 68 330 1014 0700-0800 $4.20 481 Z073 61% $4.20 446 2,023 60% $4.30 305. 1,428 42% $1.20 46 290 9% $2.25 83 361 11% 0800-0900 $3.80 293 1,942 57% $3.80 238 1,555 46% $4.30 231 1,159 34% $1.20 /15 323 10% $2.25 133 465 14% 0900-1000 $3.05 244 1,659 49% $3.05 228 1,2138 38% $3.90 203 985 29% $1.90 245 553 16% $2.90 190 652 19% AM Time Monday 11/26107 Tuesday 1127/07 Wednesday 1128107 Thursday 1129107 Friday 11130107 ..,.,,.. .. . n . - _.., �.".. . `' - _ ��•.�- s,... A a€: L1,i0.'"a�".'... - ,{'.: •. I. ..P'3?'R;t's" _ r , .0!/ ^. 0400 0500 $2.25 -T'-. 274 800 24% $2.25 274 782 231, $2.25 272 779 23% $2.25 262 795 23% $2.25 232 717 21% 0500-0600 $3.70 484 $004 59% $3.70 487 1,951 57% $370 493 1,944 57% $3.70 542 1,950 57% $3.55 412 1,734 51% 0600-0700 $3.80 548 2374 70% $3.80 566 2,449 72% $3.80 572 2,377 70% $3.80 567 Z362 69% $3.70 474 2,082 61% 0700-MOO $4.20 441 1,952 57% $4.20 477 2,094 62% $4.20 455 2,072 61% $4.20 434 1,999 59% $4.10 407 2,032 60% 0800. 0900 $3.80 178 1,607 47% $3.80 201 1,836 54% 53,80 185 1,548 46% $3.80 199 1,671 49% $330 174 1,519 45% 0900-1000 $3.05 162 1,276 38% $3.05 169 1,369 40% 53,05 169 1,446 43% $3.05 142 1,274 37% $3.05 126 867 26% Customer Service and Violations Processing Customer service and Processing activities at OCTA's operating contractor, Cofiroute USA, continued at a busy and productive rate. In November, the Customer Service Center received 29,284 incoming calls. All performance levels specified in the operating contract were well within established standards. Incoming E-mail Activity During November, the Anaheim Processing Center received a total of 3,527 e-mails, with a year- to-date total of 20,780 e-mails. Incoming Call Activity CALL CENTER ACTIVITY _November-07 October-07 _ FY Total Calls i % of Trial Total Calls I %of Total Average Representatives Answered I VR Answered Abandoned Calls Total Incoming Calls: 16,457 56.2% 11,651 39.8% 1,176 4.0% 29,284 19,212 56.5% 13,792 40.6 % 1,001 2.9 % 34,005 18,782 13,888 1,050 33,720 Performance Measures REPORTING REQUIREMENT CUSTOMER SERVICE Call Wait Time Abandon Rate Customer Satisfaction Reporting i Period j mantiy mantny morally PERFORMANCE STANDARD Not to exceed 120seconds No more than 4.0% At least 75 outbound calls i Nov'07 ;Performance 100 4.0% 75 Convert Violators to Customers Quatay 8.0%or more 't; Convert Violators to Customers Anrualy 10% or more_, VIOLATION PROCESSING Response Time writrty within 2 business days of receipt 0.9 CUSA Violation Collection Rate Qualify 70% or more Quarterly . CUSA Violation Collection Rate Annually 74% or more Annually .^ TRAFFIC OPERATIONS Initial & Secondary Reviews nnontnly = to or less than 15 days 2 'Plate Misread Errors nrontny = to or less than 0.4% 0.1% CAP Response Time Monthly 20 minutes per call 13 ACCOUNTING Exceptions nrontily ' No more than 3 0 INFORMATION TECHNOLOGY ....._._._.............. TollProUptime rountrty 99%Availability 100% Network Uptime Mont* 99%Availability 100% Plate MGsread Eiror performance is accumulated over a 60-day period. Percentage reported is for Septem ber 2007 • Transponder Distribution Status The 91 Express Lanes has experienced continued growth in the number of drivers using the facility since its inception. The steady growth can be measured by the number of transponders in circulation each year. At the end of November 2007, the 91 Express Lanes had 119,854 active customer accounts, with 178,142 transponders assigned to those accounts. Total transponders available for distribution amounted to 12,865 transponders. TRANSPONDER DISTRIBUTION N ovem_ ber-07 Tags I % ofTots I October-07 Tags�% of Total FY Average Issued To New Accounts 739 30.5% 999 33.2% 968 Ad ditional Tags to Existing Accou nts 511 Replacement Transponders Total Issued 1,176 2,426 Returned Account Closures Accounts Downsizing Defective Transponders Total Returned 582 124 964 ............. 1,670 21.1% 656 48.5% 1,351 3,006 34.9% 7.4 % 57.7% 616 194 1,335 2,145 21.8% 44.9% 639 1,323 2,930 28.7% 635 9.0% 160 62..2% 1,199 1,993 125,000 105,000 85,000 65,000 45,000 25,000 TRANSPONDER INVENTORY STATUS Internal External Total TRANSPONDERS ON -HAND: Available for Distribution: Customer -Returned Tag Classificabon 1. Under Warranty- Return to Sirit: 2. Out of Warranty- Destroy: 3. Not yet Classified: 8,703 159 8,862 Total Transponders On -hand: 0 .................. 3,775 228 12,865 TRANSPONDERS CURRENTLY ASSIGNED TO ACCOUNTS: 178,142 ........._......... 0 1996 0 1997 0 1998 0 1999 ® 2000 0 2001 ® 2002 0 2003 ® 2004 0 2005 0 2006 0 2007 ❑ 2008 History of Growing Number of Accounts by Fiscal Year As of November 30, 2007 8 Operational Highlights On -road Operations Customer Assistance Specialists (CAS) responded to 140 calls during November. The CAS team received 84 calls to assist disabled vehicles, 19 calls to remove debris and conducted 22 assists or traffic breaks. There were 8 accidents in the Express Lanes and 7 accidents in the general- purpose lanes. Projects Update • In -lane Cameras Replacement The In -lane Cameras Replacement project is nearly completed with the exception of a few punch list items. All new cameras and screens are operational and in use. Connectivity to Ca!trans' Transportation Management Center has been established. Drafting of the final acceptance plan commenced in late August. When all remaining equipment have been installed, final acceptance testing will begin. Traffic Operations Center In April, construction of the new Traffic Operations Center (TOC) began. Project punch list items, including signage and training for the fire suppression system, have been identified and full project completion is expected for January 2008. • Telephone Replacement An agreement with Integrated Technology was executed in May 2007 for the replacement of the 91 Express Lanes' telephone system. The new system will be a Nortel based solution which is similar to the standardized telecommunication systems currently utilized by OCTA Staff, in conjunction with Cofiroute, is currently working on the Interactive Voice Response (IVR) component. It is anticipated testing and training on the operation of the new system will take place throughout December. The project should be completed by January 2008. • Financial Highlights 91 Express Lanes Operating Statement YTD as of November 30, 2007 YTD Variance Description Actual Budget Dollar $ I Percent (%) y Operating revenues: Toll revenue 16,379,457.93 $ 16,624,012.00 $ (244,554.07) (1.5) Fee revenue 3,557,020.90 3,152,222.00 404,798.90 12.8 Total operating revenues 19 936,4y-78 83 19,776 234 00 160,244 83 0.8 M1„k"& #'C'"�1 ^t'3 dy...n:.: y.Yp �". �R �€' Y a��.%`rP-„*aS.4rt .^.�. �#+Y�.fi.a?i'2a�.>'�i 'J.A lyh _5. ti- S:Ms Operating expenses: Contracted services 2,398,011.00 2,497,350.00 99,339.00 4.0 Administrative fee 668,216.15 1,046,785.00 378,568.85 36.2 Other professional services 331,989.72 566,998.00 235,008.28 41.4 Credit card processing fees 474,497.87 457,600.00 (16,897.87) (3.7) Toll road account servicing 289,451.66 426,400.00 136,948.34 32.1 Other insurance expense 165,192.65 125,000.00 (40,192.65) (32.2) Toll road maintenance supply repairs 127,754.58 190,112.00 62,357.42 32.8 Patrol services 177,193.31 174,720.00 (2,473.31) (1.4) Building equipment repairs and maint 142,753.96 524,125.00 381,371.04 72.8 Other services 1,871.00 77,080.00 75,209.00 97.6 Advertising fees 32,967.00 48,250.00 15,283.00 31.7 Utilities 5,703.55 54,856.00 49,152.45 89.6 Office expense 40,205.42 210,800.00 170,594.58 80.9 Bad debt expense 154,206.99 - (154,206.99) N/A Miscellaneous 78,418.44 94,194.00 15,775.56 16.7 Leases 193,731.99 171,602.00 ,,:(22,129.99) (12.9) - - N/A Property taxes Depreciation and amortization 3,904,174.45 - (3,904,174.45) N/A Total operating expenses 9,186,339.74 6,665,872.00 (2,520,467.74) (37.8) Operating income (loss) 10,750,139.09 13,110,362.00 (2,360,222.91)1 (18.0) Nonoperating revenues (expenses): Interest income 1,366,399.56 1,226,368.00 140,031.56 11.4 Interest expense (4,593,713.53) (4,841,779.00) 248,065.47 5.1 Other 7,020.32 22,339.00 (15,318.68) 68.6 Total nonoperating revenues (expenses) (3,220,293.65) (3,593,072.00) 372,778.35 10.4 Transfers in - - N/A Transfers out (981,760.00) 981,760.00 100.0 Net Income (loss)! $ 7,529,845.44 ( $ 8,535,530.00 I $ (1,005,684.56)I (11.8) 'Actual amounts are accounted for on the accrual basis of accounting in an enterprise fund. Budget amounts are accounted for on a modified accrual basis of accounting. 'Miscellaneous expenses include: Bond Insurance Costs, Bart Service Charge, Transponder Materials. 'Depreciation and amortization are not budgeted hems. Capital Asset Activity During the five months ending November 30, 2007, capital asset activities included approximately $66,458 related to the purchase of communication equipment, $291,076 for the purchase of transponders and $32,733 related to the purchase of computer equipment. ATTACHMENT C OCTA Orange County Transportation Authority press nes Status Report December 2007 As of December 31, 2007 Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for December 2007 was 1,094,499. This represents a daily average of 35,306. This is a 10.7/D decrease in total traffic volume from the same period last year when traffic levels totaled 1,225,913. Potential toll revenue for the month was $3,088,680 which represents a decrease of 5.0% from the prior year's total of $3,251,321. The slowdown of the economy, coupled with high gas prices and high foreclosures rates, can be attributing to decrease. Carpool percentage for the month was 23.53% compared to the previous year's rate of 22.09%. Average hourly revenue per trip is $0.22 or 7.2% less than projected by Vollmer. 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 2007. Current Month -to -Date as of December 31, 2007 (2006/2007 data is for the corresponding month in that fiscal year) ry .xr � � Y �� i _'> .�.�sA Trip �3 gs� '� ' .arart±e * a aC(a[1ce �f . � :_ 8. ppe_ .a. Full Toll Lanes 836,913 960,814 (123,901) (12.9%) 955,085 (12.4%) 3+ Lanes 257,586 264,614 (7,028) (2.7%) 270,828 (4.9%) Total Gross Trips 1,094,499 1,225,429 (130,930) (10.7%) 1,225,913 (10.7%) rf uwt fteveriPeEr ems:: Full Toll Lanes $3,010,105 $3,653,557 ($643,452) (17.6%) $3,180,794 (5.4%) 3+ Lanes $78,575 $75,971 $2,604 3.4% $70,527 11A% Total Gross Revenue $3,088,680 $3,729,529 ($640.848) (17.2%) $3,251,321 (5.0%) Average Full Tol I Lanes $3.60 $3.80 ($0.20) (5.3%) $3.33 8.1% Average 3+ Lanes $0.31 $0.29 $0.02 6.9% $0.26 19.2% Average Gross Revenue $2.82 $3.04 ($0.22) (7.2%) $2.65 6.4% The 2007/2008 fiscal year-to-date traffic volume is 3.5% lower than the same period last year. The 2007/2008 fiscal year-to-date revenue is 2.9% higher than for the same period last year and is below Vollmer's projections by 7.5%. Year-to-date average hourly revenue per -trip is $0.15 or 4.9% less than projected by Vollmer. 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 2007 through December 2007. Fiscal Year 2007/2008 to Date as of December 31, 2007 (2007/2008 data is for the period July 1, 2007 through December 31, 2007; 2006/2007 data is for the corresponding period in that fiscal year) MP���� ��>, _ .�? ?l., a,xt e�te� Var3artlg rse ���,1a»K.. .�1(arianr kk,Aw..,.� Full Toll Lanes 5,542,180 5,780,829 (238,649) (4.1%) 5,794,803 (4.4%) 3+Lanes 1,554,474 1,491,671 62,803 42% 1,558,543 (0.3%) Total Gross Trips 7,096,654 7,272,500 (175,846) (2.4%) 7,353,346 (3.5%) _'.. �.. Full Toll Lanes $19,977,189 $21,694,914 ($1,717,725) (7.9%) $19,462,797 2.6% 3+Lanes $499,127 $438,000 $61,127 14.0% $443,915 12A% Total Gross Revenue $20,476,316 $22,132,914 ($1,656,598) (7.5%) $19,906,712 2.90/0 Average Full Toll Lanes $3.60 $3.75 ($0.15) (4.0%) $3.36 7.1% Average 3+ Lanes $0.32 $0.29 $0.03 10.3% $028 14.3% Average Gross Revenue $2.89 $3.04 ($0.15) (4.9%) $2.71 6.6% • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a month basis. Fiscal Year 2007-2008 Traffic Volume Overview 0c1-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Month The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a monthly basis. $3,630,000 $3,450,000 s) $3,270,000 a � $3,090,000 $2,910,000 $2,730,000 $2,550,000 Fiscal Year 2007-2008 Revenue Summary 94,132 ---83,896 IF 13,618,260 3,322,519 75,450 , 3,200,788 76,369 i 3,609,164E , 13,215,570 I 3.010,105 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Month ■ Full Toll Lanes Y 3+Lanes Twenty-six times during the month of December 2007, peak hour eastbound traffic as reflected in the chart below exceeded 90% or more of defined capacity, with the highest volume at 97% of defined capacity on Tuesday, December 4th, during the 6:00 pm hour. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 71 % of defined capacity. EASTBOUND PEAK -HOUR VOLUMES EASTBOUND WEEKDAY PEAK VOLUME: • PM Time 12/03107 Tuesday 12104107 Wednee day 12/05107 Thursday 12106107 Friday 12107107 ,,qMconday .�rPCe3 f1 3�7�..;:. r .,. - ; •. • �; 1400. 15DD $3.80 244 1,974 58% $3.80 249 2,039 60% 53.80 271 2,191 64% $3.90 287 2,359 69% $5.10 314 2,660 78% 150D-1600 $4.10 534 2,967 87% $4.70 459 2,765 81% $4.55': 491 1 .3569 '; sin 54;- ''526 ,,3,2,94 97%,� $9.25 516 2,843 84% 1600-1700 $6.85 457 2,927 B6% $800 493 2930 86% $850 486 2,922 86% 5929`. 408 3037 91% $9.50 419 2,655 78% 1700 1800 6.85 505 �r 3180 m,ai5'°, $8.50 459 -. 9063 919: 58.50 - 576 3,21d; 95% 5925 -_ , ,521 3...„ "92% ;.. $8.00 398 2,544 75% 1800-1900 $4.10 550 2964 87% z$5k5 --b_. 3,310 ?97% $4.95 544 3,024 89% $575 499 2,829 83% $4.90 418 2,094 62% 1900.2000 $2.90 351 1.714 50% $2.90 316 1,885 55% $2.90 405 2,034 60% $4.15 353 1,872 55% $4.55 319 1,476 43% PM Time Mondry 12110107 Tuesday 12111/07 Wednesday 12/12/07 Th middy 12/13/07 Friday 12114//37 :... »..,,. - -'' . • F� ?� ..-.. ,za' -.-,,. - ..._ .P'i: `' 1400-1500 1500-1600 1600-1700 1700-1800 1600-1900 1900-2000 $3.80 $4.10 $8.85 $6.65 $4.10 $290 259 491 453- 510 530 306 1,894 2,896 3,038 3,012 2,728 1,667 56%� 85% 89% 89% 80% 49% $3.80 5G70 4040 $8.50 -55.45 $2.90 261 509 .473„` 462 585p 321 2,177 SA60 3,131 2,969 3101 1,772 64% 90% ,92% 87% -91%» 52%- $3.80 44,95 „ 5E30 A , $8.505 $4.95 $2.90 255 491 '474 •,. 510 529 348 2,204 65% 3054, .�`90% 9055„`90% 3,180 - 94%•' 2,933 -86% 2,050 60°4 53.90 'l54.95;, $0 $9.25.' 55,75 $4.15 247 514 d85 S22 587 364 2,310 3,155 $099 3,088 3,1, 2,069 68% '83% 9f%' 90%'; '91 _%-, 61% $5.10 25„ E9.50 'iAAO $4.90 $4.55 350 2,835 83% 571„ `90%s 492 3015 89% ,. S20 �3317 _52%-i 531 - 2,599 -76% 434 2,010 59% Monday 12117/07 Tuesday 12118107 Wednesday 12/19107 Thursday 12/20107 Friday 12/21/07 PM Time , '' a . 41 ", s R° R , ���..... '1.Cf0Plj 1400-1500 $3.80 257 1099 59% $3.80 231 2,201 65% $3.80 269 2,170 64% $3.90 283 2,495 73% $510 406 2985 88%1 1500-1600 $4.10 517 2944 87% $4.70 498 2,898 85% $4.95 457 2,961 87% .-54S ' 41 >:3,2 49.25 536 3,109,=,9155 1600 1700 56.85°' 616 3,t05 91%'a'.. $8.00 494 3.041 89% $8.50 464 2,955 87% $9.25 471 2,918 86% $9.50 469 2,974 87% 1700 1800 $6.85 +I6T. %,`. $8.50 383 2,504 74% $8.50 446 2837 83% :5925, 49' ;31. - ,'92%:= $8.00 487 2,741 81% 1800 1900 ,5410 '539 ,9,200 ,94%'" $5.45 539 2,849 84% $4.95 428 2565 75% $5.75 490 2,711 80% $4.90 407 2,308. 68% 1900-2000 $290 362 2015 59% $2.90 391 2,017 59% $2.90 339 1,719 51% $4.15 410 2,092 62% $4.55 399 1,694 50% Monday 12/24/07 Tuesday 12/25/07 Wednesday 1226107 Thursday 12/27107 - Friday 12/28107 PM Time _ .....i �'`rSS,+?...:�`. ,-s"°'`'P { se .P 1011` P3 41 t=.-�Y. 9LGBY•3'. 1400-1500 $5.10 537 1,978 58% $4.50 591 1,548 46% 63.80 334 1,773 52% $3.90 377 2,093 62% $5.10 403 2,463 72% 1500-1600 $9.25 489 1,578 46% $4.50 456 1,168 34% $4.95 445 2,395 70% $4.95 504 2,648 78% $9.25 458 2,368 - 70% 1600-1700 $9.50 516 1,601 47% $4.50 427 1,015 30% 68.50 449 2,216 65% $9.25 447 2,373. 70% $9.50 370 1,964 58% 1700-1800 $8.00 475 1,522 45% $4.50 531 1,107 33% $8.50 413- 2,207 65% $9.25 490 2,368 70% $8.00 480. 2,299 68% 1800-1900 $4.90 430 1,246 37% $4.50 661 1,290 38% $4.95 410 1,904 56% $5.75 451 2,111 62% $4.90 430 1,841 54% 1900-2000 $4.55 459 1,097 32% $4.50 780 1,430 42% $2.90 370 1,419 42% $4.15 365 1,332 - 39% $4.55 339 1,302 38% PM Time 1400- 1500 1500 - 1600 1600 - 1700 1700 - 1800 1 800 - 1900 1 900 - 209D Monday 12/31/07 $5.10 266 1,452 43% $9.25 317 1,350 40% $9.50 310 1,263 37% $8.00 331 1,198 35% $4.90 305 1,034 30% $4.55 220 679 20% Tuesday 01101108 Wednesday 01102/08 Thursday 01/03/08 Friday 01104108 • WESTBOUND PEAK -HOUR VOLUMES WESTBOUND WEEKDAY PEAK VOLUME: Monday 12/03107 Tuesday 12/04/07 Wednesday 12/05107 Thursday 12/06107 Friday 12107/07 AM Ti me trri4a415a3WOL . * ' '''V' '''S*74trarita,:4441010Witig 3':' .-:77,14-04 ' 7 ".4 04.7-00:0*0.9.07,4440 0400 - 0500 $2.25 280 796 , 23% $2.25 259 746 22% $2.25 290 819 24% $225 , 268 759 22% $2.25 225 778 23% 0500 - 0600 $3.70 455 1,869 55% $3.70 502 1,933 57% $3.70 511 1,893 56% $3,70 499 1,901 56% $3.55 416 1,770 52% 0600. 0700 $3.80 564 2,291 67% $3.80 542 2,318 68% $3.80 516 2,314 68% $3,80 537 2,244 66% $3.70 481 2,047 60% 0700- 0800 $4.20 448 2,014 59% $4.20 488 2,186 64% $4.20 472 2,176 64% $4.20 . 462 2,130 63% $4.10 372 1,853 55% 0800 - 0900 $3.80 21 9 1,883 55% $3.80 199 1,649 49% $3.80 223 1,875 55% $3.80 198 1,728 51% $3.70 163 1,254 37% 0900 - 100D $3.05 171 1,350 40% $3.05 171 1,455 43% $3.05 197 1,408 41% $3,05 195 1,531 45% $3.05 141 1,135 33% Monday 12/10/07 Tuesday unign Wednesday 12/12107 Thursday 12113107 Friday 12114/07 :§ 2ti,49a,r,,J4ftfVA30WO , OM 7tgOV- :4rWireNVIIV*ttO501Abtriig:AM1me OT.3,AAld 0400- 0500 $2.25 252 772 23% $2.25 279 741 22% $2.25 280 737 22% $2.25 ! 205 745 22% $2.25 214 651 19% 050D- 0600 $3.70 480 1,921 57% $3.70 533 1,954 57% $3.70 492 1,878 55% $3.70 1 711 1,828 54% $3.55 470 1,732 51% 060D- 0700 $3.8D 481 2,065 61% $3.80 548 2,401 71% $3.80 538 2,365 70% $3•80 ' 899 2,263 67% $3.70 515 2,128 63% 0700- 0800 $4.20 465 2,1 51 63% $4.20 451 2,247 66% $4.20 422 1.947 57% $4.20 1 892 2,193 65% $4.10 430 1,788 53% 0800- 0900 $3.80 205 1,807 53% $3.80 191 1,728 51% $3.8 D 206 1,627 48% $3.80 : 820 1,747 51% $3.70 215 1,494 44% 090D- 1000 $3.05 164 1,219 36% $3.05 133 1,215 36% $3.05 195 1,551 46% $3.05 587 1,370 40% $3.05 177 1,168 34% Monday 12117107 Tuesday 1211E007 Wednesday 12/19107 Thursday 12/20107 Friday 12121/07 AM limo TT11.9irt _4Y4'W/BY94. ''. '•••• , 2 . , ' ',jig . - IXIX10,61. .'.... - k 000_ Oft405,- ' 00.4 - - ':WAVAA/P14. 0400- 0500 $225 261 763 22% $2.25 248 726 21% $2.25 225 699 21% $2.25 ' 246 715 21% $2.25 197 575 17% 0500-0600 $3.70 471 1,891 56% $3.70 476 1,902 56% $3.70 449 1,840 54% $3.79 492 1,878 55% $3.55 448 1,848 54% 0600-0700 $3.80 490 2,221 65% $3.80 468 2,231 66% $3.80 459 2,119 62% $3.80 489 2.203 65% $3.70 424 1,994 59% 070D- 0800 $4.20 395 1,910 56% $4.20 369 2,D7 3 61% $4.20 335 1,710 50% $4.20 393 1.778 52% $4.10 344 1,555 46% 0 BOD - 0900 $3 BO 210 1.669 49% $3.80 185 1,669 49% $3.80 195 1.518 45% $3.80 161 1,482 44% $3.70 206 1,393 41% 0900 - 1000 $3.05 195 1,295 38% 53.05 159 1,280 38% $3.05 168 1,286 38% $3.05 , 198 1,348 40% 53.05 190 1.234 36% A 14 11 me Monday 17/24107 Tuesday 12125/07 Wednesday 12128107 Thursday 12/27/07 Friday 12128107 toilaarticoovetio OA itrAl &Waif VnT:J:'''. -7413$3/Matir&brIre41041511,•Cif wiroirowo4-xer-wl 0400- 0500 $2.25 50 132 4% $1.20 9 22 1% $2.25 131 404 12% 82 25 137 438 13% $2.25 287 1,128 33% 0500- 0600 53 55 86 294 9% $1.20 9 21 1% $3.70 285 1,158 34% $3.70 322 1,265 37% $3.55 254 1,134 33% 060D- 0700 $3.70 91 403 12% $1.20 10 31 1% $3.80 226 1,070 31% $3.80 261 1,206 35% $3.70 229 1,037 31% 0700- 0800 $4.10 104 426 13% $1.20 16 60 2% $4.20 207 998 29% $4.20 222 1,083 32% 54.10 198 1,025 30% 0800- 0900 $3.70 143 513 15% $2.25 56 134 4% $3.80 174 950 28% $3.8D 230 1,122 33% $3.70 253 975 29% 0 90D • 1000 $3.05 161 569 17% $2.35 219 468 14% $3.05 187 904 27% $3.05 296 1,186 35% $3.05 291 1,047 31% AM Time 0400- 0500 0500 - 0600 0600 - 0700 0700 - 0800 0800- 0900 0900 - 1000 Monday 12/31/07 Tuesday 01101108 W.4M10:9~-1WWU $2.25 65 188 6% $3.55 125 466 14 % $3.70 131 550 16% $4.10 117 547 16% $3.70 106 582 17% $3.05 147 566 17% Wednesday 01102/08 Thursday 01103/08 ISir6r**ViiirStWALOSIO044--„:711 Friday 01104108 Customer Service and Violations Processing Customer service and Processing activities at OCTA's operating contractor, Cofiroute USA, continued at a busy and productive rate. In December, the Customer Service Center received 26,622 incoming calls. All performance levels specified in the operating contract were well within established standards. Incoming E-mail Activity During December, the Anaheim Processing Center received a total of 3,327 e-mails, with a year- to-date total of 24,107 e-mails. Performance Measures REPORTING REQUIREMENT _._ . . _ ..,...-..,,_. _ ......... - CUSTOMER SERVICE "'Call Wait Time *'Abandon Rate i Reporting I Period _ orontny monthly 1 PERFORMANCE STANDARD I _.._._ ......... _ _,. Not to exceed 120 seconds No more than 4.0% ° Dec'07 Performance .._._ ....., unavailable unavailable Customer Satisfaction nronttty At least 75 outbound calls 76 Convert Violators to Customers Quaterly 8.0% or more 102% Convert Violators to Customers Anrvaly 10% or more VIOLATION PROCESSING Response Time Monthly within 2 business days of receipt 0.8 CUSA Violation Collection Rate Quatay 70% or more Quarterly 71.1% CUSA Violation Collection Rate Anrualy 74% or more Annually ' TRAFFIC OPERATIONS Initial & Secondary Reviews 'Plate Misread Errors Monthly rnronwy = to or less than 15 days I = to or less than 0.4% 2 0.1% CAP Response Time Monthly 20 min utes per call 13 ACCOUNTING Exceptions monthly No more than 3 0 INFORMATION TECHNOLOGY TollPro Uptime Monthly 99% Availability 100% Network Uptime Monthly 99% Availability 100% *Plate Misread Error performance Is accumulated over a60-day period. Percentage reported is for October 2007 "Call Wail Time and Abandon Rate performance is not availabs due to unresolved issues with the aurent phone system • • Transponder Distribution Status At the end of December 2007, the 91 Express Lanes had 119,539 active customer accounts, with 177,420 transponders assigned to those accounts. Total transponders available for distribution amounted to 11,847 transponders. TRANSPONDER DISTRIBUTION Issued To New Accounts December-07 November-07 FY Tags % of Total Tags I % of Total Average 583 28.0% 739 30.5% 904 Additional Tags to Existing Accounts 390 Replacement Transponders 1,108 Total Issued; 2,081 Retu rn ed Account Closures Accounts Downsizing Defective Transponders Total Returned 453 185 989 1,627 18.7 % 511 53.2% 1,176 , 2,426 27.8% 11.4% 60.8 % 21.1% 48.5% 598 1,287 2,788 582 34.9% 604 124 7.4% 164 .......--- ............. ..... . 964 ' 57.7% 1,164 1,670 1,932 125,000 105,000 85,000 65,000 45,000 25,000 TRANSPONDER INVENTORY STATUS Internal External Total TRANSPONDERS ON -HAND: Available for Distribution: Customer -Returned Tag Classification 1. Under Warranty- Return 10 Sirit: 2. Out of W arranty - Destroy: 3. Not yet Classified: Total Transponders On -hand: 11,701 146 11,847 0 631 171 12,649 TRANSPONDERS CURRENTLY ASSIGNED TO ACCOUNTS: 177,420 History of Growing Number of Accounts by Fiscal Year As of December31, 2007 01996 019970 19980 199913 2000 0 20010 20020 2003 E12004 0 20050 20060 20070 2008 8 Operational Highlights On -road Operations Customer Assistance Specialists (CAS) responded to 152 calls during December. The CAS team received 86 calls to assist disabled vehicles, 39 calls to remove debris and conducted 18 assists or traffic breaks. There were 9 accidents in the Express Lanes and 0 accidents in the general- purpose lanes. Projects Update • In -lane Cameras Replacement The In -lane Cameras Replacement project is nearly completed with the exception of a few punch list items. All new cameras and screens are operational and in use. Connectivity to Ca!trans' Transportation Management Center has been established. Drafting of the final acceptance plan commenced in late August. The final acceptance testing has been scheduled for January 2008. • Traffic Operations Center In April, construction of the new Traffic Operations Center (TOC) began. Project punch list items, including signage and training for the fire suppression system, have been identified and full project completion is expected for January 2008. • Telephone Replacement An agreement with Integrated Technology was executed in May 2007 for the replacement of the 91 Express Lanes' telephone system. The new system will be a Norte! based solution which is similar to the standardized telecommunication systems currently utilized by OCTA. Staff, in conjunction with Cofiroute, is currently working on the Interactive Voice Response (IVR) component. It is anticipated testing and training on the operation of the new system will take place throughout December. The project should be completed by January 2008. Financial Highlights 91 Express Lanes Operating Statement YTD as of December 31, 2007 YTD Variance Description Actual Budget dget Dollar $ Percent (%) M.� g � Operating revenues: Toll revenue 19,311,903.76 $ 19,923,336.00 $ (611,432.24) (3.1) Fee revenue 4,314,247.92 3,782,384.00 531,863.92 14.1 Total o eratin revenues 23,626,151.68 23,705,720.00 (79,568.32) (0.3) Operating expenses: Contracted services 2,874,712.53 2,996,820.00 122,107.47 4.1 Administrative fee 801,859.38 1,256,142.00 454,282.62 36.2 Other professional services 477,127.79 721,505.00 244,377.21 33.9 Credit card processing fees 562,119.73 550,000.00 (12,119.73) (2.2) Toll road account servicing 363,321.12 512,500.00 149,178.88 29.1 Other insurance expense 198,231.18 250,000.00 51,768.82 20.7 Toll road maintenance supply repairs 147,661.97 228,500.00 80,838.03 35.4 Patrol services 212,461.58 210,000.00 (2,461.58) (1.2) Building equipment repairs and maint 224,606.64 598,250.00 373,643.36 62.5 Other services 1,871.00 152,500.00 150,629.00 98.8 Advertising fees 38,408.78 96,500.00 58,091.22 60.2 Utilities 7,086.71 67,704.00 60,617.29 89.5 Office expense 42,542.78 271,267.00 228,724.22 84.3 Bad debt expense 220,182.43 - (220,182.43) N/A Miscellaneous 110,379.99 118,990.00 8,610.01 7.2 Leases 201,689.62 206,252.00 4,562.38 2.2 Property taxes - - - N/A Depreciation and amortization 4,694,959.53 - (4,694,959.53) N/A Total operating expenses 11,179,222.76 8,236,930.00 (2,942,292.76) (35.7) Operating income (loss) 12,446,928.92 15,468,790.00 (3,021,861.08)1 (19.5) Nonoperating revenues (expenses): Interest income 1,718,563.51 1,474,000.00 244,563.51 16.6 Interest expense (5,496,413.82) (5,819,446.00) 323,032.18 5.6 Other 7,744.78 26,850.00 (19,105.22) 71.2 Total nonoperating revenues (expenses) (3,770,105.53) (4,318,596.00) 548,490.47 12.7 Transfers in - - - N/A Transfers out - (1,180,000.00) 1,180,000.00 100.0 Net income (loss)1 $ 8,676,823.39 1 $ 9,970,194.00 I $ (1,293,370.61)1 (13.0) 'Actual amounts are accounted for on the accrual basis of accounting in an enterprise fund. Budget amounts are accounted for on a modified accrual basis of accounting. 'Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials. 'Depreciation and amortization are not budgeted items. Capital Asset Activity During the six months ending December 31, 2007, capital asset activities included approximately $75,118 related to the purchase of communication equipment, $398,352 for the purchase of transponders and $32,733 related to the purchase of computer equipment. 10 ATTACHMENT D 1/111 OCTA Orange County Transportation Authority Express Lanes Status Report January 2008 As of January 31, 2008 Operations Overview Traffic and Revenue Statistics Total traffic volume on the 91 Express Lanes for January 2008 was 1,036,916. This represents a daily average of 33,449. This is a 12.2% decrease in total traffic volume from the same period last year when traffic levels totaled 1,180,543. Potential toll revenue for the month was $3,192,596 which represents a decrease of 6.7/0 from the prior year's total of $3,423,061. The slowdown in the regional economy, coupled with high gas prices and high foreclosures rates, can be attributing to the decrease. Carpool percentage for the month was 20.65% compared to the previous year's rate of 20%. Average hourly revenue per trip is $0.04 or 1.3% more than projected by Vollmer. 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 2008. Current Month -to -Date as of January 31, 2008 (2006/2007 data is for the corresponding month in that fiscal year) Full Toll Lanes 3+ Lanes Total Gross Trips Full Toll Lanes 3+ Lanes Total Gross Revenue Average Full Toll Lanes Average 3+ Lanes Average Gross Revenue 822,791 214,125 1,036,916 $3,109,892 $82,704 $3,192,596 $3.78 $0.39 $3.08 959,971 222,629 1,182,600 $3,524,908 $74,257 $3,599,157 $3.67 $0.33 $3.04 (137,180) (8,504) (145,684) ($415,008) $8,447 ($406,561) $0.11 $0.06 $0.04 (14.3%) (3.8%) (12.3%) (11.8%) 11.4% (11,3%) 3.0% 182% 1.3% 944,381 236,162 1,180,543 $3,338,025 $85,035 (12.9%) (9.3%) (12.2%) $3,423,061 $3.53 $0.36 $2.90 (6.8%) (2.7%) 7.1 % • 8.3% 62% The 2007/2008 fiscal year-to-date traffic volume is 4.7% lower than the same period last year. The 2007/2008 fiscal year-to-date revenue is 1.5% higher than for the same period last year and is below Vollmer's projections by 8.0%. Year-to-date average hourly revenue per -trip is $0.13 or 4.3% less than projected by Vollmer. 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 2007 through January 2008. Fiscal Year 2007/2008 to Date as of January 31, 2008 (2007/2008 data is for the period July 1, 2007 through January 31, 2008; 2006/2007 data is for the corresponding period in that fiscal year) • may, Full Toll Lanes 6,364,971 6,740,800 (375,829) (5.6%) 6,739,184 (5.6%) 3+ Lanes 1,768,599 1,714,300 54299 32% 1,794,705 (1.5%) Total Gross Trips 8,133,570 8,455,100 (321,530) (3.8%) 8,533,889 (4.7%) Full Toll Lanes $23,087,081 $25,219,814 ($2,132,733) (8.5%) $22,800,823 13% 3+ Lanes $581,831 $512,257 $69,573 13.6% $528,950 10.0% Total Gross Revenue $23,668,912 $25,732,071 ($2,063,160) (8.0%) $23,329,773 1.5% (� p� eat gyp � �{ �+ ee iiiit704111,1 fii; 4 y R a .at .� Average Full Toll Lanes $3.63 $3.74 ($0.11) (2.9%) $3.38 7.4% Average 3+ Lanes $0.33� $0.30 $0.03 10.0% $029 13.8% Average Gross Revenue $2.91 $3.04 ($0.13) (4.3%) $2.73 6.6% • Traffic and Revenue Summary The chart below reflects the total trips breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a month basis. Fiscal Year 2007-2008 Traffic Volume Overview 934,677,11,002340, 1 968.416 896,675 1862,817 .L-.. ,! Jul-07 Aug-07 Sep-07 0c1-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Month The chart below reflects the gross potential revenue breakdown between Full Toll trips and HOV3+ trips for Fiscal Year 2007/08 on a monthly basis. $3,63D,000 $3,450,000 g $3,27D,000 m K $3,090,000 $2,910,000 $2,730,000 $2,550,000 Fiscal Year 2007-2008 Revenue Summary 3,618,260 3,322,519; 3,200,788 76,369 3,609,164� i 78,575 1 i �3,215,570- 3,010,105 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Month ■ Full Toll Lanes ■ 3+ Lanes Ten times during the month of January 2008, peak hour eastbound traffic as reflected in the chart below exceeded 90% or more of defined capacity, with the highest volume at 92% of defined capacity on Wednesday, January 91h, during the 4:00 pm hour. As demonstrated on the next chart, westbound peak hour traffic volumes top out at 74% of defined capacity. EASTBOUND PEAK -HOUR VOLUMES Monday 12/31/07 Tuesday 01/01/08 Wednesday 01/02/08 Thursday 01103108 Friday 01/0408 PM Time ._`v-. "'`a ,.+, 1400. 1500 �,-: "� � '� $3.80 212 678 17% 5380 331 1,871 55% 33.90 318 Z133 63% $5.10 373 2417 71% 1500-1600 "' $3.80 198 518 15% $5.95 483 2,639 78% $5.70 508 2,822 83% $10.00 496 2520 74% - .- 1600-1700 °. `: 53.80 256 548 16% $8.50 479 2,665 78% 39.25 477 2773 82% $950 404 2549 75% 1700 1800 - - $3.80 295 596 18% 44.50 442 2,652 78% $9.25 495 2,747 81% $8.00 414 2,512 74% 1800 • 1900 ^:f '"; $3.80 328 864 20% $4.95 473 2,388 70% 45.75 512 2607 77% $4.90 456 2223 65% 190D 2000 x+;. --x�. -,;_ 53.50 300 546 16% $2.90 313 1,320 39% 44.15 327 1,474 43% $4.55 384 1,525 45%. Mondry 01/07/08 Tuesday 018150.8 Wednesday 01/09/08 Thursday,T. 01/10/08 Friday 01111/08 PM TimePrke ... .� ...��rv. .iGv€-n.�!�'.. ,. ,, `. ..'.:�P,4 Y�-.. ,`§Fth •,;4 1403-1503 $3 BO 197 1,658 49% 33.80 225 1,811 53% $3.80 224 1,916 56% $3.90 247 2,202�- 65% 15.10 347 2710 80% 1500-1600 $4.10 421 Z745 81% $4.70 518 2,865 84% $5.95 462 2447 72% $5.70 504 2,78E B2% 510.00 578 3,023 89% 1600-1700 56.85 421 2760 81% 48.00 453 2,907 B6% 4$68 479 1-3,142 9254' $925 493 <Ri2$ 92% se ' 118 1700-1300 56.65 417 2796 82% $850 465 2,624 11314 58.50 450 2722 80% $9.25 468 Z951 87% $8.03 493 2,945 87% 1800-1900 $4.10 470 2377 70% 15.45 503 2,551 75% $4.95 534 2,564 78% `55A5 s 536 ? >4:1' 91%- $4,90 531 "al 78% 1900-2000 5290 247 1,256 37% $2.90 278 1,465 43% $2.90 309 1,588 46% 54.15 397 2,423 71% 54.55 466 2,054 60% Mondry 01/14/08 Tuesday 01/15N8 Wednesday 01/16/08 Thursday 01/17/08 Friday 01118/08 PM Time,., . X �. -.. ,.... 0 1400-1500 $3.80 218 1,730 51%�43.80 20D 1,860 55% 53.80 242 1,990 59% 33.90 258 2,231 66% 55.10 386 2,744 82% 1500-1600 $4.10 488 2806 43% $4.70 491 2946 87% $5.95 527 2922 86% 4570 469:a' 3,068 „HO%: 410.00 588 2,831 83% 1600-1700 $6.85 414 2,691 79% 48.03 447 3,040 89% $13.50 380 2688 79% 5925 454 ;��3,06T r 90%" $8.50 480 2691 79% 1700-1800 $6.65 M2 3,003 84% 48.50 481 2,843 84% $8.50 488 3011 89% $925 440 2,844 84%. $8.00 505 2,924 86% 1800-1900 $4.10 532 2867 84% 1545 549 2,945 87% $1115 482 2684 79% $5.75 570 ,':.3,087 815$• $4.90 528 2,699 78% 1900-2000 $290 329 1,874 49% 42.90 322 1,826 54% $2.90 366 2,159 64% $4.15 341 1,982 58% $4.55 541 Z587 78% Monday 01/21/08 Tuesday 0122108 Weenies dry 01/23/08 Thureay 0124/DB Riday 01/25/08 PM Time 1400. 1500 $3130 296 1,609 47% $3.80 219 1,834 54% 43.80 224 1,900 506 43.90 249 2,034 60% $5.10 335 2,586 76% 1500-1600 $910 490 2404 71% $4.70 451 2,791 82% $5.95 472 2,738 81% 45.70 MO 2,837 83% $10.00 540 2,618 77% 1600-1703 56.45 447 2436 72% 48.00 399 2858 84% 58.50 498 2,798 82% :$125 t 463 3,072 /,BO $950 424 2559 75% 1 700- 1800 46.85 499 2,614 77% $8.50 401 2682 79% $8.50 506 2944 87% $9.25 456 2,814 83% 38.00 411 2414 71% 1800-1900 $4.10 538 2564 75% $5.45 480 2,593 70% $1.95 537 2,760 61% $5.75 474 2585 76% $4.90 431 2178 64% 1900-2000 $290 343 1,372 40% $2.90 271 1,504 M% $2.90 380 2,219 05% 44.15 269 1,652 -49% $4.55 373 1,508 47% Monday 0128/e8 Tuesday 01/29108 Wednesday 01/30108 Thursday 01/31/08 Fdday 02101/08 PM Time i '� -" !u` u`; ixi"' 4 yy$ ._✓ ,, Q„`-,•4? .0t1; ... i4 ✓iP 1400-1500 1380 19D 1,613 47% $3.60 226 1,898 55% $3.80 250 1,941 .. 57% $3.90 267 2225 65% 1500-1600 $4.10 402 2433 72% $4.70 442 2,132 77% 45.95 439 2,765 81% '$570 S10f .'3,0T0 90%z 1600-1700 $6.85 304 2,520 74% $8.00 431 2813 66% 58.50 461 2864 84% , 4fi1 37,083 1,1 1700-1000 $6.65 370. 2591 76% $8.50. 428 2852 84% $850 455 2,893 85% $9.25 471 2995 88% _ 1600-1900 54.10 411 2220 65% $5.45 534 2728 80% $4.95 516 2897 85% 45.75 494 2,890 85% 1900-2000 VA 232 1,311 39% 4290 267 1,494 M% $2.90 368 1,817 53% 44.15 389 2,106 62% EExpreaus 5 • WESTBOUND PEAK -HOUR VOLUMES Monday 12/31/07 Tuesday 01101/08 Wednesday 01/02/88 Thursday O1103/08 Friday 0191408 AM llrne 0bam^3I4�f5�01.,�•z a�"': .�L j�i..-. ,-rat t-�'.,^.Js' .r.... �� _. T$2.25 • 0400 0500 - '-' ,. $1.20 24 42 1% $2.25 220 Gig 1991 52.25 232 598 18% 186 547 16% 0500 0600 ` $1.20 14 33 1% $3.70 404 1,716 50% $3.70 411 1,759 52% $3.55 338 1,3M 41% 0600-0700 $120 15 48 1% $3.60 338 1,696 50% 53.80 396 1,772 52% $3.70 300 1,403 41% 0700 0600 _ F Gr" $1.20 23 56 2% $4.20 251 1,325 39% $4.20 286 1,390 41% $4.10 265 1,258 37% 0800 0900 "' a` $1.20 30 103 3% 33.80 193 1,256 37% 53.80 209 1,324 39% $3.70 202 1,230 36% 0900 1000 "- _ r- $225 86 215 8% 63.05 225 1,059 31% $3.05 222 1,173 35% $3.05 179 1,058 31% Mondry 01/07108 Tuesday 01108/08 Wednesday 01/09108 Thursday 01/10/08 Friday 01/11/08 AM dine �Pif�"1,1PY �s $ dw � ea.....'���',!'"•c 0400-0500 .�,. $225 237 692 20% $2.25 243 671 20% $2.25 264 669 20% $225 164 648 19% $2.25 237 673 20% 0500-0600 $3.70 433 1,766 52% $370 495 1,804 53% $3.70 482 1,805 53% $3.70 674 1,802 53% $3.55 458 1,705 SON. 0600-0700 53.80 494 2160 64% $3.80 540 2144 63% $3.80 515 2218 65% $3.80 829 2177 64% $3.70 473 2,016 59% 0700-0800 $4.20 337 1,723 51% $4.20 392 2,179 64% $4,20 418 1,856 58% 54.20 791 1,980 58% $440 433 2,029 60% 0800-D900 $3.80 156 1,332 39% $3.80 199 1,514 45% $3.80 200 1,517 45% $3.80 673 1,507 44% $3.70 220 1,603 47% 0900-1000 $3.05 129 981 29% $3.05 163 1,195 35% $3.05 150 1,132 33% $3.05 544 1,311 39% $3.05 178 1,174 35% Monday 01/14/08 Tuesday 01H5/08 Wednesday 01/16108 Thursday 01/17/08 Friday 01118/08 AM11me x:14�`i"ce'11!#Y,- BR1l7 Vqt' . , •••- ... _.,�,..•.....,:_-�' s ....,.... ,.NOt/' _- - , ISNs: 0400-0500 $225 268 735 22% $225 259 667 20% $225 255 649 19% $2.25 240 636 19% $2.25 239 624 18% 0500-0600 $3.70 442 1,049 54% $370 476 1,835 54% $3.70 501 1,838 54% $3.70 466 1,792 53% $3.55 449 1,672 49% 0600. 0700 63.80 491 2,167 60% $3.80 505 2220 65% $3.80 495 2163 64% $3.80 331 1,494 44% $3.70 48D 2,122 62% 0700-06130 $4.20 434 1,988 58% $4.20 430 1,990 59% $4.20 446 2,151 63% $4.20 529 2,319 68% $4.10 407 1,911 56% 0800. 0900 63.80 180 1,638 48% $3.80 274. 1,688 5D% $3.80 224 1,722 51% $3.80 250 2,120 62% $3.70 205 1,578 46% 0900-1000 $3.05 148 1,247 37% $3.05 154 1,177 35% $3.05 152 1,351 40% $3.05 169 1,565 46% $3.05. 167 1,082 32% Mondry 01/21/08 Tuesday 01/22108 Wednesday 01/23108 Thurtdey 01/24/08 Friday 01125108 AM Mare,.+._,,,.�..»,.,... M'•.,. ..�..-.. •7 0400-0500 5225 183 540 16% $2.25 247 665 20% $2.25 259 674 20% $2.25 245 683 20% $225 31 131 4% 0500-.0680 $3.70 326 1,430 42% $3.70 413 1175 52% $3.70 442 1,698 50% $3.70 437 1,786 53% $3.55 2 11 0% 0600-0700 $3.80 255 1,341 39% $3,80 464 2,117 62% $3110 518 2128 63% $3.80 491 2.224 65% $310 356 1,884 55% 0700-0800 64.20 178 1,095 32% $4.21) 444 2126 63% $4,20 389 1,853 55% $4.2D 386 1,844 54% $4.10 35D 1,889 56% 0800-0900 $3.80 216 1,082 32% $3.8D 211 1,845 54% $3.80 143 1,357 40% $3.80 152 1,464 43% $3.70 256 2,510 74% 0900-1000 $3.05 242 1,072 32% $3.05 138 1,396 41% $3,05 122 1,220 36% $3.05 101 1,237 36% $3.05 140 1,144 34% Mondry 0113/08 Tuesday 01/29/08 Wednesday Thursday 01/31/08 Friday 02/01/08 AM Time 'Mehl ••=. E.srx*._,,. {a _ _ c._.._ ,- >.?4 0400-0500 $225 216 751 22% $2.25 240 639 19% $225 250 658 19% $225 246 668 20% ,-,'- 0500 - 0600' $3.70 410 1,677 49% $3.70 456 1,777 52% $3.70 473 1,816 53% $330 469 1,840 54% 0600-0700 $3.80 473 2,137 63% $3.80 505 2155 63% $3,80 501 2,293 67% $3.80 472 2068 61% 0700-0000 6420 436 1,890 56% $4.20 436 1,685 55% $4.20 438 2014 59% $4.20 471 2071 61% �° 0800-0900 $380 205 1,821 54% $3.80 170 1,479 44% $3.80 160 1,32 38% $330 206 1,726 51% 0900-1000 $3.05 141 1,385 41% $3.05 151 1,324 39% 13.05 125 1,205 35% $3.05 136 1,321 39% Customer Service and Violations Processing Customer service and Processing activities at OCTA's operating contractor, Cofiroute USA, continued at a busy and productive rate. Due to the previous telephone system malfunctions and the cutover to the new telephone system at the end of January, the Customer Service Center phone activity is not available. All other performance levels specified in the operating contract were well within established standards. Incoming E-mail Activity During January, the Anaheim Processing Center received a total of 3,955 e-mails, with a year-to- date total of 28,062 e-mails. Performance Measures REPORTING REQUIREMENT CUSTOMER SERVICE Reporting PERFORMANCE STANDARD Period Jan Performance unavaiable _ I unavaiable 08' - ___ _ _ ** Call Wait Time „ -- _ Abandon Rate --- Monthly ,Not to exceed 120 seconds - -- -- - - Monthlyr No more than 4 0% Customer Satisfaction j Monthly At least 75 outbound calls 75 �r Convert Violators to Customers Quarterly 8 0%0 or more Convert Violators to Customers Annually 10% or more VIOLATION PROCESSING 0.8 _ w Response Time s Monthly {within 2 business days of receipt CUSA Violation Collection Rate Quarterly i70% or more Quarterly CUSA Violation Collection Rate Annually 74% or more Annually TRAFFIC OPERATIONS _______._..__ _ __ _ Months �= to or less than 15 days 2 _._ ____ 0 08% ... 14 _ _____ Initial & Secondary Reviews * Plate Misread Errors Monthly Ito or less than 0.4% CAP Response Time Monthly i20 minutes per call _ ACCOUNTING _ _ 0 Exceptions _ _ Monthly j No more than 3 INFORMATION TECHNOLOGY TollProUptime Monthly ,;99%Availability 100% Network Uptime Monthly 99%Availability 100% ' Plate Misread Error performance is accumulated over a 60-day period. Percentage reported is for November 2007 *'Call Wait Time and Abandon Rate performance is not available due to unresolved issues with the current phone system • • • Transponder Distribution Status At the end of January 2008, the 91 Express Lanes had 119,186 active customer accounts, with 177,056 transponders assigned to those accounts. Total transponders available for distribution amounted to 9,422 transponders. 125,000 105,000 85,000 65,000 45,000 25,000 TRANSPONDER DISTRIBUTION Jan ary-08 Dece nber-07 FY Tags %of Total Tags % of Total Average Issued To New Accounts 687 27.3% - 583 28.0% 873 Additional Tags to Existing Accounts 543 Replacement Transponders 1,282 Total Issued: 2,512 Returned Account Closures Accounts Downsizing Defective Transponders 21.6 % 390 51.0% 1,108 2,081 697 33.0% 212 10.0% 1,201 56.9% Total Returned 2,110 18.7% 53.2 % 453 27.8% 185 11.4% 989 60.8% 1,627 590 1,286 2,749 TRANSPONDER INVENTORY STATUS Internal External Total TRANSPONDERS ON -HAND: Available for Distribution: Customer -Returned Tag Classification 1. Under Warranty- Return to Sirit: 2. Out of Warranty - Destroy: 3. Not yet Classified: 9,296 126 9,422 Total Transponders On -hand: 0 2,568 344 12,334 TRANSPONDERS CURRENTLY ASSIGNED TO ACCOUNTS: 177,056 History of Growing Number of Accounts by Fiscal Year As of January 31, 2008 ID 19960 199717 1998 0 1999 RI 2000 El 2001 0 2002 0 2003 6120040 20050 20060 2007 0 2009 8 Operational Highlights On -road Operations Customer Assistance Specialists (CAS) responded to 138 calls during January. The CAS team received 62 calls to assist disabled vehicles, 32 calls to remove debris and conducted 31 assists or traffic breaks. There were 8 accidents in the Express Lanes and 5 accidents in the general- purpose lanes. Projects Update • In -lane Cameras Replacement The final acceptance testing for the In -lane Cameras Replacement project took place on January 25th. A few exceptions were identified during the testing and the vendor is working to resolve the issues. This project consisted of replacing all 35 in -lane cameras with cameras that have powerful pan, tilt and zoom capabilities, installing additional security cameras at the 91 Express Lanes' facilities, and upgrading the digital image recording devices to allow 24/7 continuous recording with seven days storage capacity. Connectivity to Caltrans Traffic Management Center (TMC) was established that enables image control capability from the TMC. • Traffic Operations Center The build -out of the new 91 Express Lanes Traffic Operation Center (TOC) has been completed. This tenant improvement project entailed acquiring 1,336 square feet of leased space to house the new TOC, replacing all video monitors, and expanding the TOC server room. The TOC houses all the necessary hardware, software and connectivity solutions to operate the cameras / surveillance system. • Telephone Replacement The cutover from the previous telephone system to the upgraded system was successful and full implementation was completed on January 30, 2008. Incoming calls were successfully handled by the customer service representatives with little or no disruption. The new system is a Norte! based solution which is similar to the standardized telecommunication system currently utilized by OCTA. Additional enhancements to the new system include Interactive Voice Response (IVR) capabilities which allow customers to update their credit card information and make credit card payments through the IVR menu. In addition, screen pop functionality is now available. Through this new feature, the customer's account information automatically "pops" onto the customer service representative's computer monitor when a call is transfer from the IVR to the representative. Financial Highlights 91 Express Lanes Operating Statement YTD as of January 31, 2008 YTD Variance Descri • tion Actual Bud et Dollar $ Percent % Operating revenues: _ Toll revenue 22,306,043.60 $ 23,257,019.00 $ (950,975.40) (4.1) Fee revenue 5,024,545.94 4,438,521.00 586,024.94 13.2 Total operatin revenues 27 330,589.54 27,695 540.00 964,950 46) (1.3) Operating expenses: Contracted services 3,363,487.91 3,520,014.00 156,526.09 4.4 Administrative fee 935,502.61 1,465,499.00 529,996.39 36.2 Other professional services 702,768.07 2,303,919.00 1,601,150.93 69.5 Credit card processing fees 652,747.36 641,300.00 (11,447.36) (1.8) Toll road account servicing 414,956.69 597,575.00 182,618.31 30.6 Other insurance expense 231,296.16 250,000.00 18,703.84 7.5 Toll road maintenance supply repairs 163,775.29 266,431.00 102,655.71 38.5 Patrol services 247,729.85 244,860.00 (2,869.85) (1.2) Building equipment repairs and maint 264,029.66 698,250.00 434,220.34 62.2 Other services 1,871.00 152,915.00 151,044.00 98.8 Advertising fees 81,506.87 141,500.00 59,993.13 42.4 Utilities 8,345.73 78,800.00 70,454.27 89.4 Office expense 58,661.08 346,402.00 287,740.92 83.1 Bad debt expense 255,189.84 - (255,189.84) N/A Miscellaneous 132,550.42 139,360.00 6,809.58 4.9 Leases 259,925.44 240,490.00 (19,435.44) (8.1) Property taxes - - N/A Depreciation and amortization 5,468,446.41 - (5,468,446.41) N/A Total operating expenses 13,242,790.39 11,087,315.00 (2,155,475.39) (19.4) Operating income (loss) 14,087,799.15 1 16,608,225.00 1 (2,520,425.85)1 (15.2) Nonoperating revenues (expenses): Interest income 2,380,919.01 1,718,684.00 662,235.01 38.5 Interest expense (6,465,626.85) (6,785,474.00) 319,847.15 4.7 Other 33,566.07 31,307.00 2,259.07 (7.2) Total nonoperating revenues (expenses) (4,051,141.77) (5,035,483.00) 984,341.23 19.5 Transfers in - - - N/A Transfers out - 0,375,880.00) 1,375,880.00 100.0 Net Income (loss)1 $ 10,036,657.38 1 $ 10,196,862.00 1 $ (160,204.62)1 (1.6) 'Actual amounts are accounted for on the accrual basis of accounting in an enterprise fund. Budget amounts are accounted for on a modified accrual basis of accounting. 'Miscellaneous expenses include: Bond Insurance Costs, Bank Service Charge, Transponder Materials. 'Depreciation and amortization are not budgeted items. Capital Asset Activity During the seven months ending January 31, 2008, capital asset activities included approximately $76,844 related to the purchase of communication equipment, $398,352 for the purchase of transponders and $32,733 related to the purchase of computer equipment. 10 • MI OCTA March 21, 2008 To: State Route 91 Advisory Committee From: V Kirk Avila, General Manager, 91 Express Lanes Subject: 91 Express Lanes Financial Statements Overview Mayer Hoffman McCann P.C., an independent accounting firm, has completed its annual audit of the 91 Express Lanes financial statements for fiscal year 2007 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 91 Express Lanes Annual Financial Statements for fiscal year 2007. 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 statements. The audit was conducted by Mayer Hoffman McCann P.C. (MHM), an independent accounting firm, to obtain reasonable assurance about whether the financial statements are free of material misstatement. Discussion MHM has completed its annual audit and has issued its opinion of the 91 Express Lanes financial statements for the fiscal year ended June 30, 2007. 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 United States. The auditors have issued an unqualified opinion on the financial statements, indicating that the statements presents fairly, in all material Orange County Transportation Authority 550 South Main Street / P.O. Box 14184 / Orange / California 92863-1584 / (714) 560-OCTA (6282) 91 Express Lanes financial Statements Page 2 • aspects, the financial position of the 91 Express Lanes Fund, as of June 30, 2007. A copy of the audited financial statements is included as Attachment A. Summary MHM, 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, 2007 • ATTACHMENT A 91 EXPRESS LANES FUND (An Enterprise Fund of the Orange County Transportation Authority) FINANCIAL STATEMENTS Year Ended June 30, 2007 • 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Audited Financial Statements For the Fiscal Year Ended June 30, 2007 CONTENTS Independent Auditor's Report 1 Financial Statements: Statement of Fund Net Assets 2 Statement of Revenues, Expenses and Changes in Fund Net Assets 3 Statement of Cash Flows 4 Notes to the Financial Statements 5 411 Mayer H9ffrnan McCann RC. An Independent CPA Firm Conrad Government Services Division 2301 Dupont Drive, Suite 200 Irvine, Califomia 92612 949-474.2020 ph 949-263-5520 fx www.mhm-pc.com Board of Directors Orange County Transportation Authority Orange, California INDEPENDENT AUDITORS' REPORT We have audited the accompanying financial statements of the 91 Express Lanes, an enterprise fund of the Orange County Transportation Authority (Authority), as of and for the year ended June 30, 2007, which collectively comprise the Authority's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Authority's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. As discussed in Note 1, the financial statements present only the 91 Express Lanes Fund of the Authority and do not purport to, and do not, present fairly the financial position of the Authority, as of June 30, 2007, and the changes in its financial position and cash flows, where applicable, for the year then ended in accordance with accounting principles generally accepted in the United States of America. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the 91 Express Lanes Fund of the Authority as of June 30, 2007, and the changes in its net assets and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America. Irvine, California October 19, 2007 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Statement of Fund Net Assets June 30, 2007 Assets Current Assets: Cash and investments $ 36,865,702 Receivables: Interest 692,822 Violations 6,510,023 Allowance for doubtful accounts (721,929) Other 923,817 Other assets 311,820 Noncurrent Assets: Restricted cash and investments: Cash equivalents 10,967,028 Investments 18,634,792 Unamortized debt issuance costs 3,333,002 Capital assets, net: Depreciable and amortizable 180,016,003 Total Assets 257,533,080 Liabilities Current Liabilities: Accounts payable 3,597,743 Accrued interest payable 3,032,178 Due to other governments 500,000 Unearned revenue 4,519,692 Other liabilities 379,536 Bonds payable - due within one year 4,225,000 Noncurrent Liabilities: Advances from other OCTA funds - due in more than one year 42,204,920 Bonds payable - due in more than one year 162,685,768 Total Liabilities 221,144,837 Net Assets Invested in capital assets, net of related debt 35,073,029 Restricted 10,967,028 Unrestricted (Deficit) (9,651,814) Total Net Assets $ 36,388,243 See accompanying notes to the fmancial statements. 2 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Statement of Revenues, Expenses and Changes in Fund Net Assets For the Year Ended June 30, 2007 Operating revenues: User fees and charges $ 49,838,090 Operating expenses: Contracted services 5,630,442 Administrative services 1,603,719 Insurance claims 351,679 Professional services 5,305,433 General and administrative 623,209 Other 967,459 Depreciation and amortization 9,286,721 Total operating expenses 23,768,662 Operating income 26,069,428 Nonoperating revenues (expenses): Investment earnings 3,495,763 Interest expense (10,663,145) Other 51,278 Total nonoperating revenues (expenses) (7,116,104) Change in net assets Total net assets - beginning Total net assets - ending 18,953,324 17,434,919 36,388,243 See accompanying notes to the financial statements. 3 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Statement of Cash Flows For the Year Ended June 30, 2007 Cash flows from operating activities: Receipts from customers and users $ 47,540,997 Payments to suppliers (10,926,763) Payments for interfund services used (1,603,719) Miscellaneous 50,564 Net cash provided by operating activities 35,061,079 Cash flows from capital and related financing activities: Payment on advances from other funds (12,000,000) Proceeds from sale of capital assets 1,008 Payment of long term debt (4,115,000) Interest paid (8,063,150) Acquisition and construction of capital assets (3,651,000) Net cash used for capital and related financing activities (27,828,142) Cash flows from investing activities: Interest received 3,352,299 Net cash provided by investing activities 3,352,299 Net increase in cash and cash equivalents 10,585,236 Cash and cash equivalents at beginning of year 37,247,494 Cash and cash equivalents at end of year $ 47,832,730 Reconciliation of operating income w net cash provided by operating activities: Operating income b 26,069,428 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 1,955,876 Amortization of franchise agreement 7,330,845 Amortization of cost of issuance 142,335 Miscellaneous 50,564 Change in assets and liabilities: Receivables (2,446,542) Other assets (7,002) Accounts payable 1,816,126 Due to other govermnents 482,778 Unearned revenue (321,527) Other liabilities (11,802) Total adjustments 8,991,651 Net cash provided by operating activities $ 35,061,079 Reconciliation of cash and cash equivalents to statement of net assets: Cash and investments 36,865,702 Restricted cash and cash equivalents 10,967,028 Total cash and cash equivalents $ 47,832,730 Schedule of noncash activities: Increase in interest expense incurred on advances from other OC CA funds $ 1,827,166 See accompanying notes to the financial statements. 4 • 91 Express Lanes Fund (An Enterprise Fund of the Orange County Transportation Authority) Notes to the Financial Statements June 30, 2007 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 a toll facility on a 10 mile segment of the Riverside Freeway/State Route (SR) 91 between the Orange/Riverside County line and the Costa Mesa Freeway/SR 55. The purchase was enabled by State Assembly Bill 1010 (Correa), which was passed by the California legislature and signed by the govemor in September 2002. The legislation provided the authority for OCTA to collect tolls and pay related financing costs no later than 2030 and eliminated noncompete provisions in the franchise agreement for needed improvements on SR 91. OCTA purchased the assets and liabilities of the franchise interest for $207,500,000, consisting of cash of $72,500,000 and certain assets and the assumption of certain liabilities. The franchise agreement with the State of California's Department of Transportation (Caltrans) had granted CPTC the right to develop and construct the toll facility and to operate it for 35 years under a lease arrangement. Caltrans retains legal title to the real property components of the toll facility. These fmancial statements include only the activities of the 91 Express Lanes Fund, an enterprise fund of the OCTA. These financial statements are not intended to present the activities of OCTA. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of the 91 Express lanes Fund are in conformity with generally accepted accounting principles applicable to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard -setting body for establishing accounting and financial reporting principles. BASIS OF ACCOUNTING The financial statements of the 91 Express Lanes Fund are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues, consisting substantially of tolls and fees, are recorded when earned, and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Toll amounts are collected from customers on a prepaid basis, and unearned tolls are reported as deferred revenue. Enterprise funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services in connection with an enterprise fund's principal ongoing operations. The principal operating revenues of the 91 Express Lanes Fund are charges to customers for use of the toll facility. Operating expenses for the 91 Express Lanes Fund include the cost of services, administrative expenses, and depreciation and amortization on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. NOTES TO THE FINANCIAL STATEMENTS June 30, 2007 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 GAS& The 91 Express Lanes Fund has elected not to follow subsequent private - sector guidance. CASH AND INVESTMENTS OCTA maintains cash and investments in accordance with an investment policy adopted initially by the Board on May 8, 1995, and most recently amended April 9, 2007. The investment policy complies with, or is more restrictive than, applicable state statutes. The majority of OCTA's investments are managed by four private sector investment managers. At June 30, 2007, the investment portfolios were maintained at The Bank of New York Trust Company, N.A. as custodial bank. Separate investment manager accounts are maintained for the proceeds of bond issues, with the earnings for each bond issue accounted for separately. Cash from other OCTA revenue sources is commingled for investment purposes, with investment earnings allocated to the different accounts based on average daily dollar account balances. The Annual Investment Policy requires the assets in the portfolio to consist of the following investments and maximum permissible concentrations based on book value and are more restrictive than applicable state statutes for the following cases: OCTA notes and bonds (25%); commercial paper of a high rating A-1 or P-1 as provided by one of the nationally recognized rating agencies, Standard & Poor's Corporation (S & P) or Moody's Investor Service (Moody's), and must be issued by corporations rated A2 or better by Moody's and A or better by S & P with further restrictions to issuer size and maximum maturity of 180 days (25%); negotiable certificates of deposit issued by a nationally or state -chartered bank or state or federal association or be a state licensed branch of a foreign bank, which have been rated by at least two of the nationally recognized rating services with minimum credit ratings of A-1 by S & P, P-1 by Moody's, Fl by Fitch with maximum maturity of 180 days (30%); bankers acceptances which have been rated by at least two of the nationally recognized rating services with minimum credit ratings of A-1 by S & P, P-1 by Moody's, Fl by Fitch and may not exceed the 5 % limit by any one commercial bank (30%); mortgage or asset -backed securities rated AAA by S & P, Aaa by Moody's, or AAA by Fitch and issued by an issuer; medium -term notes are rated A- or better by S & P, A3 or better by Moody's or A- by Fitch or an equivalent rating by a nationally recognized rating service. MTN's may not represent more than ten percent (10%) of the issue in the case of a specific public offering. Under no circumstance can any one corporate issuer represent more than 5% of the portfolio; Repurchase Agreements collateralized at 102% (75%) reverse repurchase agreements or securities lending are not permitted, Other allowable investment categories include money market funds, mutual funds, and the state -managed Local Agency Investment Fund (LAIF). LAIF is regulated by California Government Code (Code) Section 16429 under the oversight of the Treasurer of the State of California. Investment is also allowed in the Orange County Investment Pool pap), but is limited to those funds legally required to be deposited in the County Treasury. Oversight of the OCIP is conducted by the County Treasury Oversight Committee. All investments are subject to a maximum maturity of five years, unless specific direction to exceed the limit is given by the Board as permitted by the Code. 6 NOTES TO THE FINANCIAL STATEMENTS June 30, 2007 Investments in U.S. government and U.S. agency securities, repurchase agreements, variable and floating rate securities, mortgage and asset backed securities, and corporate notes are carried at fair value based on quoted market prices, except for securities with a remaining maturity of one year or less at purchase date, which are carried at cost. Guaranteed investment contracts are carried at cost. Treasury mutual funds are carried at fair value based on each fund's share price. LAIF is carried at fair value based on the value of each participating dollar as provided by LAIF. Commercial paper is carried at amortized cost (which approximates fair value). OCTA policy is to invest only in high quality instruments as permitted by the Code, subject to the limitations of this Annual Investment Policy. Outside portfolio managers must review the portfolios they manage (including bond proceeds portfolios) to ensure compliance with OCTA's diversification guidelines on an ongoing basis. Issuer/Counter-Party Diversification Guidelines for all securities except Federal Agencies, Government Sponsored Enterprises, Investment Agreements and Repurchase Agreements; any one corporation, bank, local agency, special purpose vehicle or other corporate name for one or more series of securities (5%). Issuer/Counter-Party Diversification Guidelines for Federal Agencies, Government Sponsored Enterprises and Repurchase Agreements; any one Federal Agency or Government Sponsored Enterprise (35%); any one repurchase agreement counter -party name if maturity/term is < 7 days (50%), if maturity/term is > 7 days (35%), For the purpose of the statement of cash flows, OCTA considers all short-term investments with an initial maturity of three months or less to be cash equivalents. RESTRICTED INVESTMENTS 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. RECEIVABLES Violations receivable represent an estimate of the total outstanding unpaid violations that the 91 Express Lanes anticipate to collect. This estimate is based upon twelve month average collections on outstanding unpaid violations for violations with a due date of 90 days or less. For violations over 90 days, this estimate is based upon a 31/2 year average collections on outstanding unpaid violations. The 91 Express Lanes contracts with an outside collection agency to assist in the recovery of unpaid violations over 90 days. Allowance for doubtful accounts represents the amount anticipated uncollectible for those violations receivable related to unpaid violations, with a due date of 90 days or less. 7 NOTES TO THE FINANCIAL STATEMENTS June 30, 2007 Other receivables include amounts due from other California toll road agencies related to their customers who use the 91 Express Lanes as well as customer fees, interest, and other. OTHER ASSETS Other assets include prepaid expenses and deposits. COSTS OF ISSUANCE Costs of issuance represent issuance costs associated with refinancing the $135,000,000 taxable debt and are deferred and amortized over the life of the debt. CAPITAL ASSETS Capital assets include the toll facility franchise, improvements, equipment, furniture and fixtures, and transponders. Capital assets ate defined by the 91 Express Lanes Fund as assets with an initial, individual cost of more than $5,000 and a useful life in excess of one year. Such assets are recorded at historical cost. The costs of normal maintenance and repairs that do not add value to the asset or materially extend asset lives are not capitalized. Capital assets are depreciated using the straight-line method over the following estimated useful lives: Capital Asset Type Useful Life Improvements 10-30 years Equipment, furniture, and fixtures 3-10 years Transponders 5 years The toll facility franchise is amortized over the remaining life of the franchise agreement through December 2030. RUSK MANAGEMENT The 91 Express Lanes Fund purchases commercial property insurance including business interruption, earthquake and flood coverage related to the toll facility. Additionally, the 91 Express Lanes Fund participates in OCTA's self-insurance general liability program. The liability claims are resolved by OCTA and are expensed against the 91 Express Lanes Fund. NET ASSETS Net assets represent the difference between assets and liabilities and is classified into three categories: 8 NOTES TO THE FINANCIAL STATEMENTS June 30,2007 o INVESTED /N CAPITAL ASSETS, NET OF RELATED DEBT - This reflects the net assets of the 91 Express Lanes Fund that are invested in capital assets, net of related debt. Usually this indicates that these net assets are not accessible for other purposes; however, a deficit indicates that the related debt exceeds the capital assets, o RESTRICTED NET AssErs- This represents the net assets that are not accessible for general use, because their use is subject to restrictions enforceable by third parties. The statement of net assets reports $29,601,820 of restricted net assets, all of which is restricted by enabling legislation. • UNREErRIcrED NEr ASSETS - This represents those net assets that are available for general use. USE OF ESTIMATES The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures during the reporting period. As such, actual results could differ from those estimates. 3. CASH ANO INVESTMENTS Cash and investments arc comprised of the following at June 30, 2007: Deposits: Petty cash $ 150 Deposits 373,974 Total deposits 374,124 Investments: With OCTA Commingled Investment Pool With Trustee Total investments Total cash and investments 36,343,895 29,749,503 66,093,398 $ 66,467,522 Total deposits and investments are reported in the financial statements as: Unrestricted Cash and Investments $ 36,865,702 Restricted Cash and Investments: Cash equivalents 10,967,028 Investments 18,634,792 Total Restricted Cash and Investments 29,601,820 TotaL Cash and Investments $ 66,467,522 9 NOTES TO THE FINANCIAL STATEMENTS June30,2007 As of June 30, 2007, the 91 Express Lanes Fund had the following investments; INVESTMENT OCTA Commingled Investment Pool Money Market Murual Funds Negotiable Certificates of Deposit Investment Agreements FAIR VALUE PRINCIPAL $ 36,343,895 2,949,492 8,165, 219 18,634,792 $ 36,226,296 2,949,492 8,165,219 18,634,792 Total investments $ 66,093,398 $ 65,975,799 INTEREST RATE RISK INTEREST RATE RANGE Discount, 2%- 7.625% Variable 5.23% 4.51%-5.125% MATURITY RANGE 7/2/07.4/15/12 7/1/07 72/07 8/15/15-12/15/30 WEIGHTED AVERAGE MATURITY (YEARS) 2.3 1 Day 2 Days 18.54 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, with the exception of investment agreements which are not subject to term restrictions due to the bond indenture. 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. As of June 30, 2007, the 91 Express Lanes Fund was a participant in OCTA's commingled investment pool which had asset -backed securities totaling $113,082,332. The underlying assets are consumer receivables that include credit cards, auto and home loans. The securities have a fixed interest rate and are rated AAA by at least two of the three nationally recognized rating services. OCTA did not have any variable or floating rate securities at year end. CUSTODIAL CREDIT RISK Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for 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, 2007, OCTA did not have any deposits or securities exposed to custodial credit risk and there was no securities lending. 10 NOTES TO THE FINANCIAL STATEMENTS June 30,2007 CREDIT RISK The Annual Investment Policy (Policy) sets minimum acceptable credit ratings for investments from any of the three nationally recognized rating services S & P, Moody's, and Fitch. For an issuer of short-term debt, the rating must be no less than A-1 (S & P), P-1 (Moody's), or F-1 (Fitch), while an issuer of long-term debt shall be rated no less than an "A". LAIF is not rated. The following is a summary of the credit quality distribution and concentration of credit tisk by investment type as a percentage of each pool's fair value at June 30, 2007. (NR means Not Rated): Investments OCTA Commingled Investment Pool Money Market Mutual Funds Negotiable Certificates of Deposit Investment Agreements Total CONCENTRATION OR CREDIT RISK S Si. P Moody's Fitch % of Portfolio NR NR NR 55,00% AAA Ana NR 4.46% AA Aa2 AA 12.35% NR NR NR 28.19% 100.00% At June 30, 2007, OCTA did not exceed the Policy limitation that states that no more than: • 5% of the total market value of the pooled funds may be invested in securities of any one issuer, except for obligations of the United States government, U.S, government agencies or government sponsored enterprises. • 20% may be invested in money market mutual funds. This Policy limitation excludes investment agreements pursuant to the bond indenture. The 91 Express Lanes Fund had the following investment agreements outstanding as of June 30, 2007: Investment Agreements Amount MBIA Incorporated AIG Matched Funding Corporation I1 $12,634,792 6,000,000 NOTES TO THE FINANCIAL STATEMENTS )une 30, 2007 4. CAPITAL ASSETS Capital asset activity for the 91 Express Lanes Fund for the year ended June 30, 2007 is as follows: BEGINNING ENDING BALANCE INCREASES DECREASES BALANCE Capital assets, not being depreciated: Construction in process $ 13,23.5 $ $ 13,235 $ Total capital assets, not being depreciated $ 13,235 $ $ 13,235 $ Capital assets, being depreciated and amortized: Toll facility franchise $ 205,263,668 $ - $ $ 205,263,668 Improvements 687,541 2,052,585 2,740,126 Communications equipment 4,039,254 1,197,851 5,237,105 Computer hardware and software 937,098 138,019 32,263 1,042,854 Transponders 4,961,499 247,022 5,208,521 Equipment, furniture and fixtures 79,133 28,758 107,891 Total capital assets, being depreciated and amortized 215,968,193 3,664,235 32,263 219,600,165 Less accumulated depreciation and amortization for: ToU facility franchise (25,657,958) (7,330,845) (32,988,803) Improvements (187,031) (187,219) (374,250) Communications equipment (1,353,701) (630,536) (1,984,237) Computer hardware and software (667,333) (171,743) (31,969) (807,107) Transponders (2,448,702) (953,531) (3,402,233) Equipment, furniture and fixtures (14,685) (12,847) (27,532) Total accumulated depreciation and amortization (30,329,410) (9,286,721) (31,969) (39,584,162) Total capital assets, being depreciated and amortized, net $185,638,783 $(5,622,486) $ 294 $ 180,016,003 12 NOTES TO THE FINANCIAL STATEMENTS June 30, 2007 55. BONDS PAYABLE TAXABLE SENIOR SECURED BONDS On January 3, 2003, as part of the purchase agreement, the 91 Express Lanes Fund assumed $135,000,000 of taxable 7.63% Senior Secured Bonds. The taxable bonds mature on August 15, 2028. Semi-annual interest payments are due on the taxable bonds on February 15 and August 15 of each year, and semi- annual principal payments are due beginning February 15, 2004, On November 12, 2003, the taxable bonds were refunded as noted below. As required by the indenture, OCTA paid $26,428,197 Yield Maintenance Premium which is deferred and amortized over the life of the bonds. TOLL ROAD REVENUE REFUNDING. BONDS On November 12, 2003, the 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 refinance the $135,000,000 taxable 7.63% Senior Secured Bonds and to reimburse the OCTA for a portion of its prior payment of the costs of acquiring the Toll Road and certain other property and interests associated with the Toll Road. The Series 2003-A Bonds were issued as fixed rate bonds, the Series 2003-B-1 Bonds and the Series 2003-B-2 Bonds were issued as adjustable rate bonds. INTEREST RATE SWAPS As a means to lower its borrowing costs, when compared against fixed rate bonds at the time of issuance in September 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 ftxed rate basis and $100,000,000 was issued on a variable rate basis. The Series 2003-B-1 swap was for $75,000,000 and the countetparty is Lehman Brothers Special Funding Incorporated (Lehman Brothers). The Series 2003-B-2 swap was for $25,000,000 and the counterparty is Bear Stearns Capital Markets Incorporated (Bear Stearns). The effective rate on the parity swaps was to effectively change OCTA's variable rate bonds to a synthetic fixed rate of 4.06227%. TERMS The bonds and the related parity swap agreements mature on December 15, 2030. The parity swaps notional amount of $100,000,000 matches the $100,000,000 variable rate bonds. The parity swaps were entered into at the same time the bonds were sold (November 2003). Starting in fiscal year 2022, the notional amount of the parity swaps declines and the principal amount of the associated variable rate bonds declines an identical amount Under the parity swaps, OCTA pays the counterparties a fixed payment of 4.06227% and the counterparties pay OCTA a floating rate equal to 67% of one month LIBOR index if one month LIBOR index is equal to or greater than 4.0% or the BMA Municipal Swap Index if LIBOR is less than 4.0%, 13 NOTES TO THE FINANCIAL STATEMENTS June 30, 2007 FAIR VALUE As of June 30, 2007, the negative fair value for the $75,000,000 swap with Lehman Brothers was estimated by Lehman Brothers to be $2,366,107. As of June 30, 2007, the negative fair value for the $25,000,000 swap with Bear Steams was estimated by Bear Stearns to be $541,878. Therefore, if the swaps were terminated on June 30, 2007, the OCTA would have made a termination payment of $2,366,107 and $541,878 to Lehman Brothers and Bear Steams, respectively. The termination payments that would have been owed by the OCTA if the swaps were terminated on June 30, 2007 are a result of the change in interest rate levels and certain interest rate relationships. The rate used to calculate the fixed swap payment owed by the OCTA to the swap providers is 4.06227%. As of June 30, 2007, this fixed rate was higher than the current rate for a swap of identical terms and conditions. The fair values were estimated by the counterparties using proprietary methodologies. CREDIT RISK To mitigate the potential for credit risk, the $75,000,000 swap with Lehman Brothers and the $25,000,000 swap with Bear Steams is collateralized with U.S. government securities at all times. BASES RISK Basis risk is the risk that the variable rate paid to a borrower by a swap counterparty does not completely offset, or equal the borrower's variable rate payment to bondholders. This may result in positive or negative basis differential. In order to minimize basis risk, OCTA selected a swap structure that pays a variable receiver rate based on a percentage of LIBOR in high interest rate environments where rate compression should be less of an issue, but pays a BMA receiver rate in low interest rate environments, where rate compression has historically been at its highest. Under the parity swap agreements, OCTA pays the counterparties a fixed payment of 4.06227% and the counterparties pay OCTA a floating rate equat to 67% of LIBOR if LIBOR is equal to or greater than 4.0% or the BMA Municipal Swap Index if LIBOR is less than 4.09O. As of June 30, 2007, OCTA experienced $132,333 in cumulative positive basis differential. TERMINATION RISK Termination risk is the risk that an event occurs that causes a termination of the parity swaps and the OCTA would incur replacement costs. The Lehman Brothers and Bear Steams have posted collateral pursuant to the parity swap agreements to guarantee replacement at no cost to OCIAA. 14 NOTES TO THE FINANCIAL STATEMENTS June 30, 2007 SWAP PAYMENTS AND ASSOCIATED DEBT $75,000,000 SERIES 2003-13-1 (I) $25,000,000 SERIES-B-2 (1) INTEREST INTEREST YEAR RATE RATE ENDING SWAPS, SWAPS, JUNE 30 PRINCIPAL INTEREST NET PRINCIPAL INTEREST NET TOTAL 2008 $ $ 2,722,500 $ 373,703 $ $ 92.5,000 $ 124,568 $ 4,145,771 2009 2,722,500 373,703 925,000 124,568 4,145,771 2010 2,722,500 373,703 925,000 124,568 4,145,771 2011 2,722,500 373,703 925,000 124,568 4,145,771 2012 2,722,500 373,703 925,000 124,568 4,145,771 2013-2017 13,612,500 1,868,513 4,625,000 622,838 20,728,851 2018-2022 4,595,000 13,445,702 1,845,617 1,530,000 4,568,390 615,214 26,599,923 2023-2027 35,615,000 9,014,924 1,237,429 11,880,000 3,063,045 412,493 61,222,891 2028.2031 34,790,000 1,964,012 269,589 11,590,000 666,925 89,813 49,370,339 $75,000,000 $51,649,638 $7,089,663 $25,000,000 $17,548,360 $2,363,198 $178,650,859 As rates vary, variable -rate bond interest payments and net swap payments will vary. The variable rate on the 2003 B-1 and B-2 debt was 3.63% for Lehman Brothers and 3.70% for Bear Steams on June 30, 2007. As part of the Swap Agreement, OCTA receives 67% of one -month LIBOR which amounted to 3.56% on June 30, 2007. (1) Assumes an interest rate swap rate of 4.06227% per annum for the Series 2003-B-1 Bonds and the Series-B-2 Bonds based on the Series 2003-B Parity Swap Agreements. A summary of the terms of the Toll Road Revenue Refunding Bonds is as follows: Issuance date 11/12/03 Original issue amount $195,265,000 Cash reserve requirements $27,984,792 Cash reserve balance $29,601,820 Interest rate 2.0% to 5.375%* Maturity December 2030 Principal payment date August 15 Current balance $183,510,000 Unamortized premium $5,913,677 Deferred amount on refunding ($22,512,909) * 2003 Series B-1 and B-2 are issued as variable rate revenue bonds with a floating -to -fixed interest rate swap transaction in place. Refer to interest rate swap description within this footnote. Both the $75,000,000 Series B-1 bonds and the $25,000,000 Series B-2 bonds were swapped to a fixed rate of 4.06227%. 15 NOTES TO THE FINANCIAL STATEMENTS June 30, 2007 The Bonds contain certain financial covenants, and management believes the 91 Express lanes Fund is in compliance with such covenants as of June 30, 2007. Annual debt service requirements on the tax-exempt bonds as of June 30, 2007, are as follows: YEAR ENDING JUNE 30 2008 2009 2010 2011 2012 2013-2017 2018-2022 2023-2027 2028-2031 Total PRINCIPAL INTEREST $ 4,225,000 $ 8,027,714 4,345,000 7,909,876 4,515,000 7,742,901 4,740,000 7,517,170 4,980,000 7,274,170 29,175,000 32,097,310 37,655,000 23,641,302 47,495,000 14,416,062 46,380,000 3,885,697 $ 183,510,000 $ 112,512,222 TOTAL $ 12,252,714 12,254,876 12,257,901 12,257,170 12,254,170 61,272,310 61,296,302 61,911,082 50,265,697 $ 296,022,222 The interest rate used to determine the future annual debt service requirements for the variable rate bonds was 4.06227% at June 30, 2007. CHANGES IN LONG-TERM LIABILITIES Long-term liabilities activity for the year ended June 30, 2007, was as follows: BEGINNING ENDING BALANCE ADDITIONS REDUCTIONS BALANCE Tax-exempt bonds $187,625,000 $ $ 4,115,000 $183,510,000 Unamortized premium 6,166,218 252,541 5,913,677 Unamortized deferred amount on refunding (23,560,715) (1,067,806) (22,512,909) TOTAL LONG-TERM LIABILITIES $170,210,503 $ $ 3,299,735 $166,910,768 $4,225,000 6. ADVANCES FROM OTHER OCTA FUNDS DUE WITHIN ONE YEAR $4,225,000 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 at an interest rate, adjusted each January, representing OCTA's rate of rerum on short- term investments (5.08% at June 30, 2007). Interest accnres monthly, and the advances from other OCTA funds plus accrued interest will be repaid on an annual basis with net revenues or as a result of a refinancing. Total interest of $1,827,166 accrued on the advances for the year ended June 30, 2007. At June 30, 2007, these advances were $42,204,920 and are reported as advances from other OCTA funds. 16 NOTES TO THE FSNANCIAI. STATEMENTS June 30,2007 7. COMMITMENTS AND CONTINGENCIES OPERATOR AGREEMENT In connection with the purchase of the toll facility interest, OCfA entered into an operating agreement with Cofiroute Global Mobility (Cofiroute), to provide operating services in the annual amount of $4,994,000 plus inflation for three initial years with two one-year extension options, subject to Board of Directors approval. The agreement was in effect from January 3, 2003 through January 2, 2006. Cofiroute is responsible for the day-to-day operations of the toll facility. 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 carries two two-year extension options through January 2, 2015, subject to Board of Directors approval. LEASE COMMITMENTS The 91 Express Lanes Fund is committed under two leases for office space. These leases are considered for accounting purposes to be operating leases. Lease expenses for the year ended June 30, 2007 were $360,376. Future minimum payments for these leases apptoximate the following: for the year ending June 30 2008 $ 370,119 2009 295,129 2010 273,626 $ 938,874 17 awl podam smiem Apms kthigvseaa aoi.oauuo3 avz amou aw s) aoppao3 uogepodsueal uaNse3-11141.00j/sauel ssaadx3 1.6 Purpose of Feasibility Study 171 OCTA Initiated in July 2007 Transportation Corridor Agencies (TCA) co -funding study Purpose of study o Provide connectivity between 91 Express Lanes and SR-241 o Determine a logical termination of the addition of the third Express Lanes Concept originated from TCA's SR-241 Project 2 Status of Study OCTA a Alternative Concepts (ACs) 1) Two-lane high -occupancy vehicle (HOV)/ high -occupancy toll (HOT) connector to existing 91 Express Lanes 2) Four -lane HOT connector to existing 91 Express Lanes 3) Two-lane reversible HOT connector to existing 91 Express Lanes Further analysis underway Operational study underway sua , 4.401 3 V100 kid saue1 ssaadx3 106 6 Iowa o; aonoauuo3 ICOH/AOH 3V AC I: Two-lane HO!l/HOT connector to existing 91 Express Lanes OCTA Pros O Consistent with Caltrans' HOV design standards O Minimizes construction cost O Consistent with SR-241 environmental document O 3+ free promotes carpool and transit O One lane is likely sufficient capacity for HOV/HOT Cons O May conflict with plans to extend the toll lanes 5 9 i saue, ssaadx3 auk}spxa o; ao 3auuo3 .SOH aueosanoA :z �� 1 AC 2: Four -lane HOT connector to existing 91 Express Lanes OCTA Pros a Highest capacity option Allows for some toll revenue Cons a Potential operations issues if 91 Express Lanes extension is not built O Higher construction cost n Right-of-way constraints 7 8 VLOO 1 ssaadx3 1,6 6unspxa o� LTAJ01.30uu03 .LoH SOMSJO/AEU 6u6I=E 3v AC-3: Two-lane reversible HOT Connector to existing 91 Express Lanes OCTA tSl Pros O Minimizes construction cost ® Allows for some toll revenue • Focuses on peak travel conditions Cons o Increases ongoing maintenance costs • Requires complex signing and control on both the 91 Express Lanes and SR-241 o Future directional splits may not be as severe o Potential operations issues if Express Lanes extension is not built- Next Steps OCTA Update the ACs to reflect Riverside County Transportation Commission's Corridor Improvement, SR-91 /SR-71 and SR-91 /I-15 projects Further Development of the Three ACs o Conceptual Planning/Engineering O Prepare a Draft and Final Feasibility Study Report by Summer 2008 10