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04 April 25, 2011 Budget & implementation90864 RECORDS RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE MEETING AGENDA TIME: 9:30 a.m. DATE: Monday, April 25, 2011 LOCATION: BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside • SP- COMMITTEE MEMBERS .0.1. Scott Matas, Chair / Russell Betts, City of Desert Hot Springs Ron Roberts, Vice Chair / Jeff Comerchero, City of Temecula Roger Berg / Jeff Fox, City of Beaumont Ella Zanowic / Jeff Hewitt, City of Calimesa Mary Craton / Barry Talbot, City of Canyon Lake Greg Pettis / Kathleen DeRosa, City of Cathedral City Steven Hernandez / Eduardo Garcia, City of Coachella Larry Smith / Robert Youssef, City of Hemet Douglas Hanson / Patrick Mullany, City of Indian Wells Bob Magee / Melissa Melendez, City of Lake Elsinore Rick Gibbs / Kelly Bennett, City of Murrieta Scott Hines / Gordon Moller, City of Rancho Mirage Steve Adams / Andy Melendrez, City of Riverside John F. Tavaglione, County of Riverside, District II Jeff Stone, County of Riverside, District III 49- STAFF -d Anne Mayer, Executive Director Theresia Trevino, Chief Financial Officer SP. AREAS OF RESPONSIBILITY -qf Annual Budget Development and Oversight Competitive Federal and State Grant Programs Countywide Communications and Outreach Programs Countywide Strategic Plan Legislation Public Communications and Outreach Programs Short Range Transit Plans Comments are welcomed by the Committee. if you wish to provide comments to the Committee, please complete and submit a Speaker Card to the Clerk of the Board. 11.36.06 Riverside Commty Transportation Cana ssian TO: Riverside County Transportation Commission FROM: Jennifer Harmon, Office and Board Services Manager DATE: April 19, 2011 SUBJECT: Possible Conflicts of Interest Issues - Budget and Implementation Committee Agenda of April 25, 2011 The April 25, 2011 agenda of the Budget and Implementation Committee includes items which may raise possible conflicts of interest. A RCTC member may not participate in any discussion or action concerning a contract or amendment if a campaign contribution of more than $250 is received in the past 12 months or 3 months following the conclusion from any entity or individual listed. Agenda Item No. 9 - Recurring Contracts for Fiscal Year 2011/12 Consultant(s): AMMA Transit Planning 393 Two Trees Road Riverside, CA 92507 Heather Menninger, Principal Bechtel Infrastructure 5257 Westview Drive Fredrick, MD 21703 Donald Marshall, President Best, Best & Krieger LLP 3750 University Avenue, Suite 400 Riverside, CA 92501 Steve DeBaun, Partner Epic Land Solutions, Inc. 2601 Airport Drive, Suite 115 Torrance, CA 90505 Holly Rockwell, President Fieldman Rolapp & Associates 19900 MacArthur Boulevard, Suite 1100 Irvine, CA 92612 Dan Wiles, Principal and General Counsel Geographics 4178 Chestnut Street Riverside, CA 92501 Dawn Hassett, Managing Partner Orrick, Herrington & Sutcliffe LLP 777 South Figueroa Street, Suite 3200 Los Angeles, CA 90017-5855 Greg Harrington, Partner Civic Resources Group 915 Wilshire Boulevard, Suite 2175 Los Angeles, CA 90017 Gregory Curtin, Managing Director Trillium Solutions, Inc. 6106 NE Mallory Ave Portland, OR 97211 Aaron Antrim, Principal Consultant Trans Track Systems, Inc. 265 Belmont Avenue Long Beach, CA 90803-1523 Mary Sue O'Melia Agenda Item No. 12 - Update on the Inland Empire 511 System and Amendment to Agreement with lteris, Inc. for Operations and Maintenance Services for Inland Empire 511 lteris 400 Oceangate, Suite 480 Long Beach, CA 90802 Gary Hamrick, Vice President • • • RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE www.rctc.org AGENDA* *Actions may be taken on any item listed on the agenda 9:30 a.m. Monday, April25, 2011 BOARD ROOM County Administrative Center 4080 Lemon Street, First Floor Riverside, California In compliance with the Brown Act and Government Code Section 54957.5, agenda materials distributed 72 hours prior to the meeting, which are public records relating to open session agenda items, will be available for inspection by members of the public prior to the meeting at the Commission office, 4080 Lemon Street, Third Floor, Riverside, CA, and on the Commission's website, www.rctc.org. In compliance with the Americans with Disabilities Act and Government Code Section 54954.2, if you need special assistance to participate in a Committee meeting, please contact the Clerk of the Board at (951) 787-7141. Notification of at least 48 hours prior to meeting time will assist staff in assuring that reasonable arrangements can be made to provide accessibility at the meeting. 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL 4. PUBLIC COMMENTS - Each individual speaker is limited to speak three (3) continuous minutes or less. The Committee may, either at the direction of the Chair or by majority vote of the Committee, waive this three minute time limitation. Depending on the number of items on the Agenda and the number of speakers, the Chair may, at his/her discretion, reduce the time of each speaker to two (2) continuous minutes. Also, the Committee may terminate public comments if such comments become repetitious. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes. Speakers may not yield their time to others without the consent of the Chair. Any written documents to be distributed or presented to the Committee shall be submitted to the Clerk of the Board. This policy applies to Public Comments and comments on Agenda Items. Budget and Implementation Committee April 25, 2011 Page 2 Under the Brown Act, the Board should not take action on or discuss matters • raised during public comment portion of the agenda which are not listed on the agenda. Board members may refer such matters to staff for factual information or to be placed on the subsequent agenda for consideration. 5. APPROVAL OF MINUTES - MARCH 28, 2011 6. 7. ADDITIONS/REVISIONS (The Committee may add an item to the Agenda after making a finding that there is a need to take immediate action on the item and that the item came to the attention of the Committee subsequent to the posting of the agenda. An action adding an item to the agenda requires 2/3 vote of the Committee. If there are less than 2/3 of the Committee members present, adding an item to the agenda requires a unanimous vote. Added items will be placed for discussion at the end of the agenda.) CONSENT CALENDAR - All matters on the Consent Calendar will be approved in a single motion unless a Commissioner(s) requests separate action on specific item(s). Items pulled from the Consent Calendar will be placed for discussion at the end of the agenda. 7A. SINGLE SIGNATURE AUTHORITY REPORT Overview This item is for the Committee to: Page 1 • 1) Receive and file the Single Signature Authority report for the third quarter ended March 31, 201 1; and 2) Forward to the Commission for final action. 7B. QUARTERLY INVESTMENT REPORT Overview This item is for the Committee to: Page 3 1) Receive and file the Quarterly Investment .Report for the quarter ended March 31, 2011; and 2) Forward to the Commission for final action. • • • • Budget and Implementation Committee April 25, 2011 Page 3 8. PROPOSED BUDGET FOR FISCAL YEAR 2011/12 Overview This item is for the Committee to: Page 23 1) Discuss, review, and provide guidance on the proposed FY 2011/12 Budget; and 2) Forward to the Commission to open the public hearing in order to receive input and comments on the proposed FY 2011/12 Budget on May 11 and on June 8, 201 1, and thereafter close the public hearing. 9. RECURRING CONTRACTS FOR FISCAL YEAR 2011/12 Page 43 Overview This item is for the Committee to: 1) Approve the recurring contracts for FY 2011/12; 2) Authorize the Chair, pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 3) Forward to the Commission for final action. 10. ANNUAL INVESTMENT POLICY REVIEW Overview This item is for the Committee to: Page 50 1) Adopt Resolution No. 1 1-004, "Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy" 2) Adopt the Annual Investment Policy; and 3) Forward to the Commission for final action. Budget and Implementation Committee April 25, 2011 Page 4 • 11. AGREEMENTS TO THOMPSON, COBB, BAZILIO & ASSOCIATES, P.C., AND MACIAS GINI O'CONNELL LLP FOR AUDIT SERVICES FOR THE MEASURE A RECIPIENTS AND TRANSPORTATION DEVELOPMENT ACT CLAIMANTS Page 65 Overview This item is for the Committee to: 1) Award Agreement No. 11-19-063-00 to Thompson, Cobb, Bazilio & Associates, P.C. (TCBA) to perform audit and related services pertaining to the Western County Measure A recipients and Transportation Development Act (TDA) claimants for a three-year term, and two one- year options to extend the agreement, for the amount of $576,400, plus a contingency amount of $57,600 for additional services that may be required due to additional recipients or claimants to be audited, for a total amount not to exceed $634,000; 2) Award Agreement No. 1 1-19-103-00 to Macias Gini & O'Connell (Macias) to perform audit and related services pertaining to the Coachella Valley and Palo Verde Valley (Eastern County) Measure A recipients and TDA claimants for a three-year term, and two one-year options to extend the agreement, for the amount of $443,740, plus a contingency of $44,260 for additional services that may be required due to additional recipients or claimants to be audited, for a total amount not to exceed $488,000; 3) Authorize the Chair, pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 4) Forward to the Commission for final action. 12. UPDATE ON THE INLAND EMPIRE 511 SYSTEM AND AMENDMENT TO AGREEMENT WITH ITERIS, INC. FOR OPERATIONS AND MAINTENANCE SERVICES FOR INLAND EMPIRE 511 Page 68 Overview This item is for the Committee to: 1) Approve Agreement No. 09-45-067-01, Amendment No. 1 to Agreement 09-45-067-00, with lteris, Inc. for operations and maintenance services for the Inland Empire 511 (1E511) system in an amount not to exceed $1,503,056; 2) Authorize the Chair, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; and 3) Forward to the Commission for final action. Budget and Implementation Committee April 25, 2011 Page 5 13. STATE AND FEDERAL LEGISLATIVE UPDATE Page 73 Overview This item is for the Committee to: 1) Receive an update on state and federal legislation; 2) Adopt the following bill positions: • AB 427 (Perez) - Monitor • AB 296 (Skinner) - Oppose • SB 693 (Dutton) - Support In Concept • SB 468 (Kehoe) - Oppose • AB 1 134 (Bonilla) - Support; and 3) Forward to the Commission for final action. 14. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA 15. COMMISSIONERS / STAFF REPORT Overview This item provides the opportunity for the Commissioners and staff to report on attended and upcoming meeting/conferences and issues related to Commission activities. 16. ADJOURNMENT AND NEXT MEETING The next budget and Implementation Committee meeting is scheduled to be held at 9:30 a.m., Monday, May 23, 2011, Board Chambers, First Floor, County Administrative Center, 4080 Lemon Street, Riverside. • RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE SIGN -IN SHEET APRIL 25, 2011 AGE li: E MAIL ADDRESS prE A-- T-v- stvitNiir e 1 Mereg 2- �ryN.rJ"jllika,Li` Q4.7C- . ejC6 0 PAC-5 4,Pr- /77". ��,,,,,-, s 75- 8Al f J) a �ATI / 17EG01..of ex, %'— "-A ,GI's<C o....., ,..3 /,.J (�z ; .u---S-A r: tLlk G /AO155 frl VAA(Or4 GY2--c6 (4 , S CA -F -A E 0 re --A a DO tit Us 1-nn.(0.1 3-KIbt " V\Iells cry RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE ROLL CALL APRIL 25, 2011 Present Absent County of Riverside, District II O County of Riverside, District III 7 O City of Beaumont City of Calimesa il;11.: 0 City of Canyon Lake /211- O City of Cathedral City O City of Coachella ;117_, �''City of Desert Hot Springs O City of Hemet M City of Indian Wells � O City of Lake Elsinore ,� O City of Murrieta ,r M City of Rancho Mirage ;if,/ �`City of Riverside O City of Temecula O • • • RIVERSIDE COUNTY TRANSPORTATION COMM/SS/ON BUDGET AND IMPLEMENTATION COMMITTEE Monday, March 28, 2011 MINUTES 1. CALL TO ORDER The meeting of the Budget and Implementation Committee was called to order by Chair Scott Matas at 9:30 a.m., in the Board Room at the County of Riverside Administrative Center, 4080 Lemon Street, First Floor, Riverside, California, 92501. 2. PLEDGE OF ALLEGIANCE At this time, Commissioner Ron Roberts led the Budget and Implementation Committee in a flag salute. 3. ROLL CALL Members/Alternates Present Members Absent Steve Adams Scott Hines Roger Berg* John Tavaglione Mary Craton Rick Gibbs Douglas Hanson Steven Hernandez* Bob Magee Scott Matas Greg Pettis Ron Roberts Larry Smith Jeff Stone Ella Zanowic *Arrived after the meeting was called to order 4. PUBLIC COMMENTS There were no requests to speak from the public. RCTC Budget and Implementation Committee Minutes March 28, 2011 Page 2 5. APPROVAL OF MINUTES - FEBRUARY 28, 2011 M/S/C (Adams/Craton) to approve the minutes as submitted. Abstain: Magee and Pettis 6. ADDITIONS / REVISIONS There were no additions/revisions to the agenda. 7. AGREEMENT FOR ADVANCE TO CITY OF CANYON LAKE Theresia Trevino, Chief Financial Officer, provided an overview for the agreement for advancement of 2009 Measure A Local Streets and Roads funds to the city of Canyon Lake (Canyon Lake) for the Railroad Canyon Road widening project. At this time, Commissioner Roger Berg arrived at the meeting. In response to Commissioner Berg's request for clarification if Railroad Canyon Road is a regional road, Theresia Trevino replied it is on Canyon Lake's local streets and roads (LSR) network. Commissioner Berg expressed concern for the LSR funding shortfall and asked if this project will help connect to the city of Lake Elsinore (Lake Elsinore). He asked if Canyon Lake requested Lake Elsinore or other surrounding cities for any funding considerations. Commissioner Bob Magee stated funding a $3 million improvement of the Interstate 15/Railroad Canyon Road interchange project showed a large commitment on Lake Elsinore's part. Commissioner Berg expressed concern that the Commission is setting precedence even though Canyon Lake's funding request is only $600,000. He stated there is a funding shortfall and no guarantee for future LSR funds and expressed concern that other funding sources were not explored. Theresia Trevino explained how the Measure A LSR funds are collected and distributed to the cities. She stated Canyon Lake is getting an advance of its LSR allocations and reimbursing the Commission with funds that would be collected in future years. • • RCTC Budget and Implementation Committee Minutes March 28, 2011 Page 3 In response to Commissioner Berg's request for clarification that the decision is based on the Commission's anticipation there is sufficient funding to pay the debt, Theresia Trevino replied $600,000 is a small amount and Canyon Lake is unique since it has a limited number of streets in its network. Commissioner Craton stated Railroad Canyon Road is a major thoroughfare from 1-15 to 1-215. She explained Railroad Canyon Road and Newport Road in the city of Menifee connect to Domenigoni Parkway, which is a three -lane road in each direction in most areas. She stated Canyon Lake will add one -lane in each direction on Railroad Canyon Road to accommodate future traffic. Commissioner Jeff Stone expressed appreciation for Commissioner Berg's comment about setting precedence, however, this is a unique situation as Canyon Lake has a limited number of transportation projects. He stated since Canyon Lake has the sales tax revenue to offset the advance of the LSR funds and the project is regionally significant, he expressed support for the staff recommendation and made a motion to approve. John Standiford, Deputy Executive Director, stated staff shared similar concerns for setting precedence, however, this project is regionally significant and there is an immediate need to relieve traffic congestion. M/S/C (Stone/Hemandez) to: 1) Approve Agreement No. 11-71-091-00, Agreement for Advancement of 2009 Measure A Local Streets and Roads Funds," to advance up to $600,000 of 2009 Measure A funds to the city of Canyon Lake (Canyon Lake) utilizing proceeds from the 2010 Sales Tax Revenue Bonds; 2) Authorize the Chair, pursuant to legal counsel review, to execute the agreement on behalf the Commission; and 3) Forward to the Commission for final action. 8. 2011 SPECIALIZED TRANSIT CALL FOR PROJECTS - JOBS ACCESS REVERSE COMMUTE, NEW FREEDOM, AND MEASURE A SPECIALIZED TRANSIT GRANT AWARDS Robert Yates, Multimodal Services Director, provided an overview for the 2011 Specialized Transit Call for Projects for Jobs Access Reverse Commute (JARC), New Freedom, and Measure A Specialized Transit grant awards. RCTC Budget and implementation Committee Minutes March 28, 2011 Page 4 At Commissioner Douglas Hanson's request, Robert Yates provided specific details regarding the specialized transit programs in the Coachella Valley. In response to Commissioner Ron Roberts' question about the cost comparison for the 2009 Call for Projects grant funds versus the 2011 Call for Projects grant funds, Robert Yates replied overall for the entire program it is approximately $1 million less for the 2011 Call for Projects. In response to Commissioner Ron Robert's question regarding the funding for the Boys and Girls Club of Southwest County, Robert Yates replied $444,170 will be allocated for two-year term. This amount represents a small decrease from the amount allocated to the Boys and Girls Club of Southwest County in the 2009 Call for Projects. In response to Commissioner Berg's question about receiving future federal funding for the 2013 Call for Projects, Robert Yates replied the JARC and New Freedom funds are not subject of the continuing resolutions moving forward at the federal level. At Commissioner Berg's request, Robert Yates discussed staff's effort to streamline this process, including allocating the federal funds to the larger transit operators that are set up both administratively and financially. Commissioner Berg then suggested it could be helpful for the Commission to understand what is considered an underserved area. Robert Yates concurred and stated staff will continue to refine the application process and the next call will include a lessons learned process so the projects being awarded will be enhanced projects. At Commissioner Hanson's request, Robert Yates discussed the Commission - Coachella Valley Rideshare program and the SunLine Taxi Voucher program and the possible extension of the programs to homeless shelters. Commissioner Hanson then requested clarification regarding the Coachella Valley Association of Governments (CVAG) shuttle services for homeless individuals and how these funds are spent. Robert Yates replied the funding pays for vehicle operation. Commissioner Hanson asked if staff considered using SunLine's dial -a -ride system at night to provide the same service. • • RCTC Budget and Implementation Committee Minutes March 28, 2011 Page 6 2) Approve Agreement No. 11-26-073-00 with Care -A -Van Services, Inc. for the provision of directly operated transportation services (the Care -A -Van project) in the amount of $691,993 in Measure A Specialized Transit grant funds; 3) Approve Agreement No. 11-26-074-00 with the Riverside Transit Agency (RTA) for the provision of directly operated transportation services (extended late night service project) in the amount of $562,915 in Jobs Access Reverse Commute (JARC) funds and $180,130 in Measure A Specialized Transit grant funds; 4) Approve Agreement No. 11-26-075-00 with Inland Aids Project for the provision of directly operated transportation services (the Inland Aids Project Transportation program) in the amount of $164,932 in Measure A Specialized Transit grant funds; 5) Approve Agreement No. 11-26-076-00 with RTA for the provision of directly operated transportation services (the CommuterLink service, routes 212 and 214) in the amount of $628,179 in JARC grant funds and $212,868 in Measure A Specialized Transit grant funds; 6) Approve Agreement No. 11-26-077-00 with Care Connexxus, Inc. for the provision of directly operated transportation services (the Specialized Shuttle project) in the amount of $400,000 in Measure A Specialized Transit grant funds; 7) Approve Agreement No. 11-26-078-00 with the Riverside County Regional Medical Center for the provision of directly operated transportation services (the Specialized Non Emergency Medical Transportation program) in the amount of $396,997 in New Freedom grant funds; 8) Approve Agreement No. 11-26-079-00 with Operation SafeHouse, Inc. for the provision of directly operated transportation services (the Main Street Transitional Living program) in the amount of $38,700 in Measure A Specialized Transit grant funds; 9) Approve Agreement No. 11-26-080-00 with city of Norco Parks Department for the provision of directly operated transportation services (the Norco Senior Shuttle Service program) in the amount of $140,000 in Measure A Specialized Transit grant funds, 10) Approve Agreement No. 11-26-081-00 with Wildomar Senior Community for the provision of directly operated transportation services (the Senior Community Transportation program) in the amount of $20,000 in Measure A Specialized Transit grant funds; • • • RCTC Budget and Implementation Committee Minutes March 28, 2011 Page 7 11) Approve Agreement No. 11-26-082-00 with Boys and Girls Clubs of Southwest County for the provision of directly operated transportation services (the Before and After School Transportation program) in the amount of $444,170 in Measure A Specialized Transit grant funds; 12) Approve Agreement No. 11-26-083-00 with the Friends of Moreno Valley Senior Center, Inc. for the provision of directly operated transportation services (the Mo Van transit service) in the amount of $129,000 in Measure A Specialized Transit grant funds; 13) Approve Agreement No. 11-26-084-00 with Court Appointed Special Advocates for Riverside County, Inc. (C.A.S.A.) for Riverside County for the provision of transportation pass or voucher services (the Specialized Transportation Service for Abused Children program) in the amount of $120,420 in Measure A Specialized Transit grant funds; 14) Approve Agreement No. 11-26-086-00 with the Volunteer Center of Riverside County for the provision of transportation pass or voucher services (the Transportation Access program) in the amount of $330,000 in Measure A Specialized Transit grant funds; 15) Approve Agreement No. 11-26-085-00 with the Independent Living Partnership for the provision of transportation pass or voucher services (the Transportation Reimbursement and Information. Project - TRIP) in the amount of $1,136,302 in Measure A Specialized Transit grant funds; 16) Approve Agreement No. 11-26-087-00 with RTA for the provision of mobility management and travel training service (the RTA Travel Training Project) in the amount of $233,887 in JARC grant funds and $233,888 in New Freedom grant funds; 17) Approve Agreement No. 11-26-088-00 with Care Connexxus, Inc. for the provision of mobility management and travel training services (the Driver Sensitivity Training project) in the amount of $21,582 in New Freedom grant funds; 18) Approve Agreement No. 11-26-068-00 with Blindness Support Services, Inc. for the provision of mobility management and travel training services (the Travel Training program) in the amount of $149,067 in Measure A Specialized Transit grant funds; 19) Approve Agreement No. 11-26-069-00 with the Coachella Valley Association of Governments (CVAG) for the provision of directly operated transportation (the specialized transit program) service in the amount of $101,809 in JARC grant funds; RCTC Budget and Implementation Committee Minutes March 28, 2011 Page 8 20) Approve Agreement No. 11-26-070-00 with SunLine Transit Agency (SunLine) for the provision of directly operated transportation service (the SunLine Commuter Service) in the amount of $219,030 in JARC grant funds and $40,000 in New Freedom grant funds; 21) Approve Agreement No. 11-26-071-00 with SunLine for the provision of transportation pass or voucher services (the SunLine Taxi Voucher program) in the amount of $161,067 in New Freedom grant funds; 22► Approve Agreement No. 11-26-072-00 between the Commission and SunLine for the provision of transportation pass or voucher services (the RCTC-Coachella Valley Rideshare program) in the amount of $80,000 in JARC grant funds; 23) Authorize the Chair, pursuant to legal counsel review, to execute the agreements on behalf the Commission; and 24► Forward to the Commission for final action. No: Berg 9. STATE AND FEDERAL LEGISLATIVE UPDATE John Standiford presented the bill positions and an overview of federal and state legislative activities. He stated AB 105 (Committee on Budget), was approved and signed by the Governor and the Legislature since this staff report was written, which addresses the fuel tax swap issue. M/S/C (Adams/Zanowic) to: 1) Approve the following bill positions: • AB 1308 (Miller) — Support; • AB 105 (Committee on Budget) — Support and Monitor; 2) Receive and file an update on state and federal legislative activities; and 3) Forward to the Commission for final action. 10. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA There were no items pulled from the Consent Calendar. 11. COMMENTS BY COMMISSIONERS/STAFF There were no comments by Commissioners or staff. RCTC Budget and Implementation Committee Minutes March 28, 2011 Page 9 12. ADJOURNMENT There being no further business for consideration by the Budget and Implementation Committee, the meeting was adjourned at 10:15 a.m. The next meeting of the Budget and Implementation Committee is scheduled for April 25, 2011 at 9:30 a.m. Respectfully submitted, Jennifer Harmon Clerk of the Board • • • RIVERS/DE COUNTY TRANSPORTATION COMMISSION DATE: April 25, 2011 TO: Budget and Implementation Committee FROM: Greg Moore, Procurement and Assets Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Single Signature Authority Report STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the Single Signature Authority report for the third quarter ended March 31, 2011; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: The Single Signature Authority report details all professional services and administrative contracts that have been executed for the third quarter ended March 31, 2011, under the Single Signature Authority granted to the Executive Director by the Commission. The unused capacity at March 31, 2011, is $222,540. Attachment: Single Signature Authority Report as of March 31, 2011 Agenda Item 7A 1 '000 F4` m407,p. 00'0C9V 00'000'E L 00'E6e99 EC'ESC'9 00'000'9l Ir 00'0 00'009'MS 00'099'1.LZ 00'099'LLZ nillinP0100017z 'inn" I In11,"' ' , 00'0£919Z 00'0 00'000t 00'0 00'C6L'94 a 949'81 00'000'SZ DO'000'ZC 00'000'os Mall&, IIIIIh_" Fq psonelney ownall elmayl u 1, I ":1:10 1Ne;$.0lfd. 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Flnf 3lBVlIVAtl 1Nnosun 1NnOlNV lOVtl1NOO 1NOOWtl 0NINIVIN3tl 1NnOWtl OIVel lOVtliN00 1tl11101NO S301M12S JO N011dlilOS30 1NV1lnSN00 660E `L£ HONVIN d0 Sd AlINOHlrIV aNf IVNOIS 310NIS • • • • RIVERSIDE COUNTY TRANSPORTATION COMM/SS/ON DATE: April 25, 2011 TO: Budget and Implementation Committee FROM: Anne Hallberg, Accounting Supervisor THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Quarterly Investment Report STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive and file the Quarterly Investment Report for the quarter ended March 31, 2011; and 2) Forward to the Commission for final action. BACKGROUND INFORMATION: Attached are the quarterly investment and cash flow reports as required by state law and Commission policy. The county of Riverside's Investment Report for the month ended March 31, 2011, is also attached for review. Attachments: 1) Quarterly Investment Report for the Quarter Ended March 31, 2011 2) County of Riverside Investment Report for the Month Ended March 31, 2011 Agenda Item 7B 3 • • Statement of Compliance Nature of Investments Bond Projects 10.09% Operating Funds 74.94% Debt Reserve 2.89% Trust Funds 12.08% Portfolio Investment Type LAIF 0.67% County Pool/Cash 86.35 Mutual Funds 10.30% County Pool/Investment 2.68% All of the above investments and any investment decisions made for the quarter ended March 31, 2011 were in full compliance with the Commission's investment policy as adopted on May 12, 2010. The Commission has adequate cash flows for six months of operations. 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Investment Manager Investment Objectives Maximum Rate of Return Countyi;r9! Rirp49 All Data as of March 31, 2011 "Meltdown" March 11th is a day all of us will remember for many years to come as the horror of the mega earthquake and subsequent tsunami that struck our allies in Japan nearly wiped out Riverside's Sister City of Sendai. Our hearts go out to those in need. We also thank all the generous County employees who gave to the Japan Relief Fund. The realization that we too live on the other side of the "Ring of Fire" and that this threat could come knocking on our door at any time is sobering. The aftermath of this disaster continues as the after- shocks show no signs of subsiding anytime soon. The effects have yet to be determined, from the economic costs to the continued threat of nuclear release from the stricken Fukushima nuclear plant. One of the major risks of the ongoing nuclear crisis in Japan besides radiation leaks will be rising energy prides over the long term, as many nations including Japan and even the U.S. are rethinking their nuclear energy' policies. Germany has already shut down several plants and has plans to close more. This unplanned stress along with he. Ongoing -political unrest in the Middle East and civil war in Libya will plaCe,f4ey_pricing pressure on fossil fuels. Portfolio Statistics Higher prices for food and energy have caused CPI to rise. Furthermore, the rate of inflation has risen in many countries around the globe and the central banks of these countries have already tight- ened economic policies in response to higher inflation. The FED is on track to complete its second round of quantitative easing in June and is likely to have to begin raising interest rates sometime in early 2012. Either way, none of these moves will be positive for our economy. As oil prices, inflation and interest rates continue higher, coupled with other issues, such as our burgeoning budget crisis at the county, state, and federal level as well as the Euro-Zone debt crisis, it is hard to imagine we escape some measurable economic slowdown as a result. We will continue to monitor these and other economic events as they unfold; the TPIF is well positioned to take advantage of higher interest rates in the future. Don Kent Treasurer -Tax Collector *Market values do not include accrued interest. March Month End Market Value ($ * 5, 421, 230, 535.75 5,815,137,071.46 November 5,494,153,474.47 T ur•r P••I.I - Month End Book Value ($) Paper Gain or Loss ($) 5,429,085,085.58 (7,854,549.83) 5, 814, 715,147.19' 5,489,078,369.48 t Fu rl 421,924.27 5,075,104.99 t C• t•,5 Paper Gain or Book Yrs to Modified Loss %) Yield (%) Maturit Duration (0.14) 0.67 1.26 1.24 0.01 0.66 1.25 0.09 0.69 1.19 1.17 6 MARKETu Economic Indicators* Released on: Indicator Definition Consensus Actual 4/1/2011 Unemployment Rate The unemployment rate measures the number of unemployed as a .ercenta:e of the labor force. 8.9% 8.8% 3/25/2011 Real Gross Domestic Product - Q/Q change Gross Domestic Product (GDP) is the broadest measure of aggregate economic activity and encompasses every sector of the economy. GDP Is the country's most comprehensive economic scorecard. 3.0% 3.1% 3/31/2011 Factory Orders - M/M change Factory orders represent the dollar level of new orders for both durable and nondurable goods. All in all, this report tells investors what to expect from the manufacturing sector, a major component of the econom and therefore a ma'or influence on their investments. 0.5% -0.1% S&P 500Index *Source: Bloomberg Value M/MChange 1,325.83 sir rr=�rrnr«c��_ -1 are • 7 Current Fed Funds Target Rate: 0.00%- 0.25%* Probability for FOMC Date 4/27/11 U.S. Treasuries* Yield MN (%) Change (%) • TI IVI l Fund AAA Rated Prime Institutional Money -Market Funds S7 Day Yield, a Federated Prime Obligations Fund POIXX Morgan Stanley Institutional Prime Liquidity Fund MPFXX ROP °rri�rrs0 Ca h A The Treasurer's Institutional Money Market Index (TIMMI) is compiled and reported by the Riverside County Treasurer's Capital Markets division. It is a composite index de- rived from five AAA rated prime institutional money market funds. Similar to the Treasurer's Office, prime money market funds invest in a diversified portfolio of U.S. dollar denominated money market instruments including U.S. Treasuries, government agencies, commercial paper, certificates of deposits, repurchase agreements, etc. TIMMI is currently comprised of the five multi billion dollar funds listed above. CAST ec��t' Month Monthly Receipts Monthly Disbursements Difference Required Matured Investments Balance Actual Investments Available to Invest Maturing > 1 Year Q4��e1� 04/2011 0642011 i vii l i 08/2011 J Ar..:$ - 10/2011 12/2011 ,r p,(B 02/2012 1,389.61 425.00 820.00 921.25 (496.25) fi 41 125.69 119.96 TOTALS 10,915,25 11,361.84 (446.59) 569.43 10.49% 2,872.05 52.90% 4,859.67 89.51% • All values reported in millions (S). Page 3 8 -4The Pooled Investment Fund cash flow requirements are based upon a 12 month histori- cal cash flow model. 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9MMDVZ6E6 bXM7bL6£6 ON'21Zb0Ib0 bONe SLLOZ 90N9SLLOZ • • • RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: April 25, 2011 TO: Budget and Implementation Committee FROM: Michele Cisneros, Accounting and Human Resources Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Proposed Budget for Fiscal Year 201 1 /12 STAFF RECOMMENDATION: This item is for the Committee to: 1) Discuss, review, and provide guidance on the proposed FY 201 1 /12 Budget; and 2) Forward to the Commission to open the public hearing in order to receive input and comments on the proposed FY 201 1 /12 Budget on May 11 and on June 8, 2011, and thereafter close the public hearing. BACKGROUND INFORMATION: Staff has completed the initial budget preparation process, and attached is an executive summary for the proposed FY 201 1 /12 Budget. The policy goals and objectives approved by the Commission on March 9 were the basis of this budget. The policy goals and objectives considered during the preparation of the budget relate to mobility initiatives, goods movement, improved system efficiencies, environmental stewardship, economic development, intermodalism and accessibility, and public and agency communications as well as financial and administration policies. Staff will present highlights of significant items included in the budget and is seeking review of and input on the proposed FY 201 1 /12 Budget. Based on input received from Commissioners, staff will update the document, as necessary, and present the proposed budget for the opening of the public hearing and for the Commission's review on May 1 1 . As a result of input received from the public and the Commission, staff will make any necessary changes to the budget document for final review, close of the public hearing, and adoption at the June 8 Commission meeting. The executive summary document contains a summary of all departmental budgets and summarizes the information for the entire Commission. The department budgets present the goals and objectives, the resources needed to accomplish the Agenda Item 8 23 goals, and the appropriations required to accomplish the tasks. Staff also included the budgets by governmental fund type, as this table provides a summary of the budgeted revenues and expenditures from a fund perspective. Preliminary funding estimates for transit operating and capital expenditures have been included in the budget, although the draft Short Range Transit Plans are still under review. An adjustment for a revised estimate of these transit expenditures may be included in the final budget document presented in June 2011. At the June 8 Commission meeting, staff will present the entire budget with detailed narratives. A summary of the proposed FY 201 1 /12 Budget is as follows: FY 2011 /12 Budget Revenues and other financing sources: Sales taxes -Measure A and Local Transportation 'Funds $ 171,400,000 Reimbursements (federal, state, and other) 48,724,800 Transportation Uniform Mitigation Funds, including reimbursements 9,284,300 State Transit Assistance 9,537,000 Other revenues 310,200 Interest on investments 1,972,200 Debt proceeds 40,000,000 Transfers in 160,735,300 Total revenues and other financing sources 441,963,800 Expenditures and other financing uses: Personnel salary and fringe benefits Professional services Support services Projects and operations Capital outlay Debt service (principal, interest and costs of issuance) Transfers out Total expenditures and other financing uses Excess (deficiency) of revenues and other financing sources over (under) expenditures and other financing uses Beginning fund balance (projected) Ending fund balance (projected) 6,421,300 16,939,300 5,436,600 367,101,900 475,200 22,017,000 160,735,300 579,126,600 (137,162,800) 533,571,600 396, 408, 800 Attachment: FY 2011/12 Proposed Budget Executive Summary Agenda Item 8 • 24 • Executive Summary Introduction The budget for Fiscal Year (FY) 2011/12 is presented to the Board of Commissioners (Board) and the citizens of Riverside County. The budget outlines the projects the Commission plans to undertake during the year and appropriates expenditures to accomplish these tasks. The budget also shows the funding sources and fund balances that will be used for these projects. This document will serve as the Commission's monetary guideline. To provide the reader a better understanding of the projects, staff has included descriptive information regarding each department and major projects. The discussion in each department includes a review of major initiatives and key assumptions. Staff used the goals and objectives approved at the Commission meeting on March 9, 2011, to prepare this budget. In addition to the Commission's long-term goals and strategic plan, the short-term factors listed below were used to guide the development of the budget: Operational • Complete projects and programs included in the 1989 Measure A. • Aggressively pursue completion of the environmental, design, and construction processes on the State Route (SR) 91, Interstate (I) 15, and 1-215 projects included in the Western Riverside County Delivery Plan. • Continue development of the SR-91 corridor improvement project toll program including executing toll program agreements with key partners, preparing requests for proposals for a design -build contract, and pursuing funding opportunities via the TIFIA loan program. • Work closely with local jurisdictions to implement the Transportation Uniform Mitigation Fee (TUMF) Regional Arterial Program and facilitate the delivery of arterial improvements in western Riverside County (Western County). • Continue the preliminary engineering and environmental clearance for the Mid County Parkway and SR-79 realignment projects. • Continue cooperation with the Federal Transit Administration (FTA) regarding the Small Starts process to support activities for the Perris Valley Line Metrolink extension (Perris Valley Line) project. • Improve utilization and increase efficiency of commuter rail lines serving the County. • Support innovative programs that provide transit assistance in hard to serve rural areas or for riders with special transit needs. • Support cost controls and promote operating efficiency for transit operators. • Maintain effective partnerships among commuters, employers, and government to increase the efficiency of our transportation system by encouraging and promoting transportation alternatives. • Continue to provide a motorist aid system that ensures safety and convenience to freeway motorists. • Maintain an active involvement in state and federal legislative matters to ensure that the Commission receives proper consideration for transportation projects and funding. • Maintain close communication with Commissioners and educate policy makers on all issues of importance to the Commission. 25 Financial • Fund administrative costs with allocations from Measure A, LTF, FSP, SAFE, and TUMF funds. • Maintain administrative program delivery costs below the policy threshold of 4% of Measure A revenues; the FY 2011/12 Management Services budget is 2.75% of Measure A revenues. • Maintain administrative salaries and benefits at less than 1% of Measure A revenues; the FY 2011/12 administrative salaries and benefits is .96% of Measure A revenues. • Continue to maintain prudent cash reserves to provide some level of insulation for unplanned expenditures. • Maintain current positive bond ratings with rating agencies. • Move forward on Measure A projects for highways and regional arterials using sales tax revenues, TUMF revenues, and state and federal funding as well as financing alternatives such as commercial paper, sales tax revenue bonds, and toll revenue bonds. • Leverage and protect past Measure A investments in rail with state and federal funding for additional rail improvements, including the Perris Valley Line. • Complete the replacement of the financial software system to better integrate project accounting needs and improve accounting efficiency. BudgetOverview Total sources (Table 1) are budgeted at $441,963,800, which is a decrease of 21% over FY 2010/11 projected sources and a 36% decrease over the FY 2010/11 budget. Total sources are comprised of revenues of $241,228,500, transfers in of $160,735,300, and debt proceeds of $40,000,000. The projected fund balance at June 30, 2011 available for expenditures (excluding reserves for debt service of $44,286,500 and advances receivable of $30,000,500) is $459,284,600. Accordingly, total funding available for the FY 2011/12 budget totals $901,248,400. Table 1 — Sources FY 2010-2012 Measure A Sales Tax LTF Sales Tax STA Sales Tax Intergovernmental TUMF Revenue Other Revenue Investment Income Operating Transfers In Debt Proceeds TOTAL Sources ns�fBuaggt;,r Pru(�� $ 114,526,200 $ 114,700,000 $ 114,700,000 56,697,900 56,700,000 56,700,000 12,802,000 26,769,300 54,911,500 46,871,500 8,618,200 9,300,000 6,859,400_ 1,853,600 178,000 240,100 5,663,200 1,830,000 3,272,800 104,833,200 270,133,200 163,513,200 268,284,000 185,000,000 170,000,000 $ 600,047,600 $ 692,752,700 $ 562,157,000 0% 0% 9,537,000 N/A (6,186,700) -11% (15,700) 0% 11,3411132,200 74% 142,200 8% (109,397,900) -40% (145,000,000) -78% i iXT $ (250,788,900) -36% Through FY 2005/06, the County had experienced significant growth corresponding to the national economic expansion and amplified locally by competitive advantages of Riverside County over nearby coastal counties (Los Angeles, Orange and San Diego): (i) housing that was (and remains) more available and affordable; and (ii) plentiful commercial real estate and available development land at lower rates. Moreover, both transportation and communication access to employment centers in Los Angeles and Orange counties improved. Riverside County's economy thrived, reflecting the area's competitive advantages over its neighboring counties, largely as a result of the County's continuing ability to draw • 26 • jobs, residents, and affordable housing away from the Los Angeles, Orange, and San Diego county areas. As a result, the County enjoyed a more diversified employment and commercial base and an increasing share of the regional economy. Chart 1 — Commission Sources Trend $300,000,000 $250,000,000 $200,000,000 $150,000,000 - $100,000,000 $50,000,000 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 -40—Measure A Sales Tax —Mr LTF Sales Tax STA Sales Tax -6E—TUMF 41E—Federal,State, Local Revenues Operating Transfers In OebtProceeds Today the economy in Riverside County reflects the recent nationwide recession, as evidenced by high unemployment; lower total personal income and taxable sales, residential building permits, and the rate of home sales and the median price of single-family residences; and high rates of distressed properties. The impact of the recession has been amplified in the Inland Empire (i.e., Riverside and San Bernardino counties) due to its relatively greater growth through 2006 and the relatively lower average income levels when compared to coastal areas. These factors have resulted in lower Measure A and LTF sales tax revenues and TUMF fees as noted in Chart 1; however, the sales tax revenues appear to have stabilized since FY 2009/10. While economic reports indicate that the national recession ended in 2009 and economic growth has resumed, recovery in the local Inland Empire economy continues to be affected by the area's housing woes due to the exposure to the subprime mortgage market collapse several years ago. The economic outlook for the Commission in FY 2011/12 is encouraging with the stabilization of sales tax revenues; however, the state and federal budget issues continue to affect funding of the Commission's capital projects and programs. Should Measure A and LTF sales tax revenues decline again and the availability of federal and state revenues continue to be uncertain, the timing and scope of the Commission's projects and programs may be impacted. While the Commission's primary revenues are the Measure A and LTF sales taxes, other revenues and financing sources are required to fund the Commission's programs and projects as illustrated in Chart 2. 27 Chart 2 — Sources: Major Categories Debt Proceeds 9% Investment Income, 1% TUMF Revenue 2% r STA Sales Tax 2% Intergovernmental 11% The State Board of Equalization (SBOE) recently provided to cities and other agencies its projections that statewide taxable sales over the next fiscal year will increase 8.9%; however, given the tenuous local economy, the Commission considers this estimate to be extremely optimistic. The Commission is not basing its estimate of revenues on the SBOE's projection. After taking the state of the local economy and recent revenue trends into consideration, staff has projected that Measure A sales tax revenues will be unchanged from the FY 2010/11 revised projection of $114,700,000. On behalf of the County, the Commission administers the LTF for public transportation needs, local streets and roads, and bicycle and pedestrian facilities. The majority of LTF funding received by the County and available for allocation is distributed to all public transit operators in the County, and the Commission receives allocations for administration, planning, and programming in addition to funding for rail operations included in the commuter rail Short Range Transit Plan (SRTP). The LTF sales tax revenue received from the State is budgeted at $56,700,000, unchanged from the FY 2010/11 revised projection due to the economic concerns discussed earlier. STA funds generated from the statewide sales tax on motor vehicle fuel are allocated by formula by the State Controller to the Commission for allocations to the County's public transit operators; however, these funds have been subject to suspension due to the state's budget issues. The STA transit allocation, which is based on recent state estimates, for FY 2011/12 is $9,537,000. Intergovernmental revenues include reimbursement revenues from federal sources of $23,650,700, state sources of $23,710,100, local agencies of $1,066,200, and others of $297,800 for highway and rail capital, rail operations and station maintenance, commuter assistance, and motorist assistance programs as well as planning and programming activities. Reimbursement revenues vary from year to year depending on project activities and funding levels. 28 • • As a result of an amended Memorandum of Understanding (MOU) with the Western Riverside Council of Governments (WRCOG), the Commission will receive 48.7% of TUMF revenues (as updated by the most recent Nexus study). TUMF represents fees assessed on new residential and commercial development in Western County. FY 2011/12 TUMF fees are expected to remain flat at $4,300,000 based on the weakened housing market in the Inland Empire, and these revenues also include TUMF zone reimbursements of $4,984,300 for the 74/215 interchange project. Other revenue of $310,200 is projected to increase 74% from the prior year's budget of $178,000 primarily because of property management revenues generated from properties acquired in connection with the SR-91 corridor improvements project. Investment income is anticipated to increase 8% in FY 2011/12 as a result of higher cash balances. Staff continues to actively manage its resources and make appropriate investments to maximize the return to the Commission without sacrificing security and affecting short-term cash requirements. Transfers in of $160,735,300 relate primarily to the transfer of available debt proceeds for highway and regional arterial projects; LTF funding for general administration, planning and programming, rail operations and station maintenance, and grade separation project allocations; approved interfund allocations for specific projects; and debt service requirements from highway, regional arterial, and local streets and roads projects. Debt proceeds consist of the issuance of $40,000,000 in commercial paper notes. Total uses (Table 2), including transfers out of $160,735,300, are budgeted at $579,126,600, a decrease of 32% from the prior year budget amount of $851,595,600. Program expenditures and transfers out totaling $543,339,600 represent 94% of total budgeted uses in FY 2011/12. Program costs have decreased by 26% from $731,270,400 in FY 2010/11. Table 2 — Uses FY 2010-2012 Capital Highway, Rail, and Regional Arterials Capital Local Streets and Roads Commuter Assistance Debt Service Management Services Motorist Assistance Planning and Programming Public and Specialized Transit Rail Maintenance and Operations TOTAL Uses change $ 180,492,400 $ 567,160,200 $ 326,674,200 ';',383,389,000 $ (183,771,200) 34,256,700 33,668,400 33,256,500 ,=;3%1681000 (500,400) 3,679,200 4,374,600 4,146,100 i 9,380,800.; 5,006,200 193,327,800 106,225,000 122,607 600 22,017,000 (84,208,000) 7,056,500 14,100,200 13,546,700 -13,770,000.: (330,200) 3,732,500 5,714,000 5,331,200Fe,'�45,2Q0[,r 561,200 5,197,100 9,651,100 - 2,843,800 :6;942,800': (2,708,300) 63,538,000 78,804,200 60,942,500 i $2,596,100? 3,791,900 13,443,000 31,897,900 10,804,700 ' 21,587;700 (10,310,200) $ 504,723,200 $ 851,595,600 $ 580,153,300 5,579,126,600- $ (272,469,000) - 32% -1% 114% -79% -2% 10% - 28% 5% -32% -32% Note: Management Services include Executive Management, Administration, Legislative Affairs and Communications, and Finance. Capital highway, rail, and regional arterials budgeted expenditures of $383,389,000 are 32% lower compared to FY 2010/11. Several projects have completed the engineering phase and are moving to construction, while right of way and land mitigation acquisitions often require a longer period of time to be completed. Additionally transfers out, primarily related to debt proceeds, included in these capital expenditures have decreased 46%. 29 Commuter Assistance budgeted expenditures of $9,380,800 are 114% above FY 2010/11 due to a $5,000,000 transfer to the Perris Valley Line projects to offset the multimodal benefits of the project. Motorist Assistance budgeted expenditures of $6,275,200 reflect a 10% increase from the FY 2010/11 budget of $5,714,000 due to increased operations costs related to the IE511 system and towing services, especially in construction zones. Debt Service of $22,017,000 has decreased 79% as a result of the FY 2010/11 retirement of all of the outstanding commercial paper program notes from the proceeds of the 2010 bonds. Planning and Programming budgeted expenditures of $6,942,800 reflect a 28% decrease from the FY 2010/11 budget of $9,651,100 as a result of the completion of geotechnical borings in the Cleveland National Forest related to feasibility analysis of a future Irvine - Corona Expressway (ICE) and a decrease in jump-start funding disbursements for grade separation projects. The $10,310,200 decrease in Rail Department budgeted expenditures of $21,587,700 is primarily due to capital funding for new Southern California Regional Rail Authority (SCRRA or Metrolink) rail cars in FY 2010/11. Total uses included in the FY 2011/12 budget by major categories are illustrated in Chart 3. Chart 3 - Uses: Major Categories Public and Specialized Transit 14% Planning and Programming 1% Motorist Assistance 1% Management Services 1% Debt Service 4% Commuter Assistance 1% Capital Local Streets and Roads 6% Commission Personnel Rail Maintenance and Operations 4% The Commission's salary and fringe benefits total $6,421,300 for FY 2011/12. This represents a slight increase of 3% or $196,300 over the FY 2010/11 budget of $6,225,000 (Chart 4); however, as a cost savings measure, there will be no merit -based salary increases in FY 2011/12. • 30 • Chart 4 — Salary and Benefits Costs: Five Year Comparison $8,000,000 S7,000,000 $6,000,000 $s,000,000 $4,o00,00o 53,000,000 $2,o00,000 $1,00o,000 $- FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 The Full Time Equivalent (FTE) of 41.0 FTE positions reflects an increase of two positions over the prior years (Table 3) as a result of filling a vacant finance position and adding a new capital projects position. Management continues to be firmly committed to the intent of the Commission's enabling legislation that called for a small staff. Staff will continue to be provided the tools needed, including state of the art technology, to ensure an efficient and productive work environment. However, it must be recognized that small is not viewed in an absolute context; it is relative to the required tasks to be performed and the demands to be met. Table 3 — Staff Summary by Department FY 2010-2012 Executive Management Administration Legislative Affairs and Communications Finance Planning and Programming Rail Maintenance and Operations Public and Specialized Transit Commuter Assistance Motorist Assistance Capital Project Development and Delivery TOTAL 0.3 4.3 2.2 6.7 5.8 2.7 2.6 2.2 0.4 11.8 39.0 0.4 4.2 1.9 5.5 5.3 3.2 2.6 1.8 1.2 12.9 39.0' The Commission provides a comprehensive package of benefits to all permanent, salaried employees. The package includes: health, dental, vision, and life insurance, short and long- term disability, workers' compensation, tuition assistance, sick and vacation leave, retirement benefits in the form of participation in California Public Employees Retirement System, postretirement health care, deferred compensation, and employee assistance program. The compensation components are shown in Chart 5. 31 Chart 5 — Personnel Salary and Benefits >o Other Fringes 2% ■ Retirement 24% • ■ Salary 63% Department Initiatives The preparation of each department's budget was based on key assumptions, accomplishments in FY 2010/11, major initiatives for FY 2011/12, and department goals and related objectives. following are the key initiatives and summary of expenditures for each department (Tables 4 through 13). Executive Management • Continue project development and delivery as the key Measure A priority. • Ensure the SR-91 corridor improvement project meets state requirements for the design - build program and seek a federal loan from the TIFIA program. • Obtain approvals from the FTA, railroads, and community related to the development of the Perris Valley Line. • Advocate for state investments in transportation and approval of a federal transportation bill to fund needed transportation priorities in Riverside County and stimulate the local economy. • Maintain regional cooperation and collaboration as a significant effort consistent with the philosophy and mission of the Commission. • Enhance external communications with media, business and civic groups, and the community. • Maintain an effective mid -sized transportation agency with a small and dedicated staff. Table 4 — Executive Management Personnel $ 138,500 5 99,400 $ 82,000 Professional 65,500 370,00D 293,000 Support 58,700 50,700 46,50015;'. TOTAL $ 262,700 $ 520,100 $ 421,500 _-', Administration $ (17,800) -18% (270,000) -73% 8,000. 16% 5,300'< $ (279,800) - -54% • Provide high quality support services to the Commission and to internal and external customers. • Continue to strengthen the electronic records management system. 32 • • • Continue to provide timely communications to Commissioners with continued emphasis on the utilization of electronic mail. • Continue to update technology to streamline processes and provide easier access to Commission records. • Support and develop a motivated workforce with a framework of activities and practices that comply with employment laws and regulations. Table 5 — Administration Personnel Professional Support Capital Outlay Debt Service TOTAL 373,500 $ 399,400 119,800 134,500 1,019,800 650,400 10,100 47,000 25,200 $ 1,548,400 $ 1,231,300 $ 1,108,400 Legislative Affairs and Communications 3,000 1% (500) 0% 20,900 3% (27,000) -57% N/A (3,6O0) 0% • Continue efforts to protect and seek, greater state and federal investment in transportation infrastructure and goods movement. • Develop effective partnerships with transportation providers to communicate a unified message to Congress regarding mobility needs. • Advocate positions in the State Legislature and in Congress that advance the County's transportation interests, especially those related to the implementation of the SR-91 corridor improvement project. • Continue to develop a broad public information program regarding the Commission's responsibilities and accomplishments through a variety of media formats and presentation opportunities. • Continue to place an emphasis on providing proactive public communications support related to major project development efforts. • Provide new Commissioner orientation meetings and other continuing education opportunities for Commissioners. Table 6 — Legislative Affairs and Communications qa&bind Personnel $ 305,600 $ 291,200 $ 370,700 Professional 441,600 688,000 636,000 Support 127,800 170,500 146,000 TOTAL $ 875,000 $ 1,149,700 $ 1,152,700 Finance 135,300 46% 500 0% 900 1% 136,700 12% • Continue appropriate uses of long- and short-term financing to advance 2009 Measure A projects of the Commission and CVAG. • Apply the sales tax revenue forecast update to develop a financing plan to support the Western Riverside County Delivery Plan and CVAG highway and regional arterial projects. • Continue to support the financing efforts for the SR-91 corridor improvement project. • Annually update the internal audit projects related to the organizational accountability program. 33 • Continue to keep abreast of Governmental Accounting Standards Board (GASB) technical activities affecting the Commission's accounting and financial reporting activities and consider early implementation of new pronouncements. • Complete the implementation of an enterprise resource planning (ERP) system to benefit all staff in the management of accounting and project information and automate a paperless workflow system. • Continue to implement a centralized procurements process in order to strengthen controls and ensure consistency in the application of procurement policies and procedures and adherence to applicable laws and regulations. • Maintain order, safety, and security at the Commission -owned operating properties, including the commuter rail stations. Table 7 — Finance Personnel Professional Support Capital Outlay Debt Service Transfers Out TOTAL 742,900 $ 673,000 $ 673,000 3,464,000 4,797,500 4,598,800 49,800 574,100 567,300 138,900 154,500 25,000 1,000 5,000,000 5,000,000 4,396,600 $ 11,199,100 $ 10,864,100 25,600 19% (278,500) -6% (5,600) -1% (25,000) -16% N/A 0% (183,500) -2% Planning and Programming • Monitor funding authority and responsibility related to the State ' Transportation Improvement Program (STIP) and impacts on the STIP caused by the state budget issues. • Ensure STIP and Proposition 1B funded projects are administered and implemented consistent with California Transportation Commission (CTC) and California Department of Transportation (Caltrans) policies. • Continue to strategically program projects and obligate funds in an expeditious manner for the maximum use of all available funding, including monitoring the use of such funding to prevent funds from lapsing. • Focus on interregional concerns and maintain effectiveworking relationships involving various bi-county transportation issues, including goods movement. • Coordinate planning efforts with regional and local agencies relating to the development of regional transportation plans (RTP) and green house gas reduction implementation guidelines. • Secure funding through the federal transportation bill for goods movement -related needs. • Monitor and track the TUMF regional arterial projects. • Work cooperatively with member agencies to continue the work efforts on the new Community Environmental Transportation Acceptability Process (CETAP) corridors. • Continue the Congestion Management Program (CMP) update and traffic monitoring along urban and rural highway systems. • Administer the SB 821 Bicycle and Pedestrian Facilities Program. • Monitor the Port of Los Angeles and Port of Long Beach's (Ports) projects for impacts on Riverside County. • • 34 • Table 8 — Planning and Programming,. p rates © 4It1 i rr tral , 2 Percent ' sT, ygr a sa �' ActNaT -."�,.,r<i,_? .,s .tea. .,-� .. �- .., _ �-�Yrsesf�,itdg�.'. y�ragected ,. :fludgCf�,,. .. Cha€rBe �iangi Personnel $ 843,200 $ 919,700 $ 812,800 $ 84,800, $ Professional 193,600 350,000 81,600 311-500• (38,500) 500) -11 Support 12,500 25,000 12,600 18,800- (6,200) -25% Projects and Operations 4,147,800 8,356,400 1,936,800 $.790.$001(2,565,900) -31% Transfers Out - - 9,200- 9,200 N/A TOTAL $ 5,197,100 $ 9,651,100 $ 2,843,800 ._ 6,94z,8001,' $ (2,708,300) 28% Rail Maintenance and Operations • Continue active participation in governance and operations of the Metrolink commuter rail system. • Continue the planning and implementation of capital improvements at the commuter rail stations in Riverside County, including multimodal facilities, security and rehabilitation projects, and a layover facility. • Continue to support activities related to the Perris Valley Line project and evaluate its operational impact. • Establish 'best approach to build, maintain, and operate cost effective and environmentally sustainable facilities that meet the public's transportation needs. • Continue coordination with CVAG, Amtrak and the State to focus attention on the creation of intercity passenger rail service between Coachella Valley, Riverside, and the Los Angeles basin. Table 9 — Rail Maintenance and Operations Personnel $ 378,500 $ 491,200 5 Professional 202,400 360,400 Support 1,191,000 993,400 Projects and Operations 11,649,900 30,016,800 Capital Outlay 21,260 16,100 Transfers Out - 20,000 TOTAL $ 13,443,000 $ 31,897,900 $ 10,804,700 $ , • Public and Specialized Transit 665,600 165,000 - 360100 1,133,100 8,825,600 '$ 0.05,900= 15,400ww460;7j}Q,( t cr' (7,800) -2% 7,600 2% 696,300 70% (11,030,900) -37% 44,600 277% (20,000) -100% 21,$&7,700r $ (10,310,200) -32% • Support innovative programs that provide transit assistance in hard to serve rural areas or for riders having very special transit needs and monitor funding of these programs. • Implement the specialized transit funding allocations related to the second universal call for projects and monitor performance. • Continue long-range planning activities to ensure that anticipated revenues are in line with projected levels of service by transit operators. • Monitor public and specialized transit operators' performance through the TransTrack program. • Provide availability for local matching funds to Western County applicants seeking FTA Section 5316 federal capital grants. • Coordinate with operators on major capital purchases and investments into new rolling stock and other system improvements in order to maintain a viable on -hand reserve. 35 Table 10 - Public and Specialized Transit Personnel Professional Support Projects and Operations Transfers Out TOTAL FY10/11 - PyiO/u `!"y 1R1z , s ooNar;; '.'Percent'. taal, .:" 8eiiiserBudget ;= PtoJe'ct'ed'_;,, Budge _'1. ktazrBej „Clia0i ' 315,600 $ 357,200 $ 337,900 $ 3S3,x4D7 $ (4,100) -1% 248,000 207,800 167,500 = 1843(20,500) -10% 7,000 27,600 19,900 23:806f (3,800) -14% 43,694,000 59,556,900 47,575,400 ,.63,77i,000 4,220,100 7% 19,273,400 18,654,700 12,841,800 , ,-1,8,254.900( (399,800) -2% $ 63,538,000 5 78,804,200 $ 60,942,500 '$ '+ 82,596;100: $ 3,791,900 5% Commuter Assistance • Improve the suite of services and outreach to rideshare participants and employer partners, including personalized information and electronic access and distribution. • Maintain and grow employer partnerships through value-added services and tools for ridesharing programs. • Continue to maintain and operate a five -county ridematching database system with partner agencies. • Maintain long-term partnership with San Bernardino Associated Governments (SANBAG) to manage and implement a "sister' Commuter Assistance program for residents and employers in San Bernardino County. • Optimize park and ride facilities to support car/vanpool arrangements and facilitate transit' connections. Table 11 - Commuter Assistance Personnel Professional Support Projects and Operations Capital Outlay Transfers Out TOTAL Motorist Assistance $ 236,200 $ 208,900 $ 1,126,700 590,800 430,900 532,500 1,434,800 2,820,400 600 22,000 450,000 200,000 $ 3,679,200 $ 4,374,600 $ 4, -___-, 275,600 $ ,L , ,,; r- 3 +' $ 14,400 7% 595,400 -,, '--67i,1U1 80,300 14% 532,600 _ �dii�3D�y0j (29,100) -5% 2,620,500fii (127,400)- -5% 22,000 sls �0� 108,000 491% 100,000 4,960,000 2480% 4,146,100 1.,fr m$0;80# $ 5,006,200 114% - • Assess opportunities for efficiency related to the call box program operations. • Develop a new tool to automate the production of reports to track the performance of FSP tow operators. • Operate and maintain the IE 511 system in accordance with national 511 implementation standards in partnership with SANBAG. • Enhance the 1E511 with more personalized traffic information services. Table 12 - Motorist Assistance Personnel Professional Support Projects and Operations Transfers Out TOTAL 79,000 45,600 656,800 2,205,700 745,400 $ 3,732,500 idge 79,100 $ 117,000 $ 103,xa00:- $ 30,400 38% 745,800 759,900 ;`b 56, 130 (387,600) -52% 556,600 521,800 a 7g;2tIB * 321,600 58% 3,069,000 2,669,000 d,$3'y',00U` 746,000 24% 1,263,500 1,263,500 = l�ild,}iQOk. (149,200) -12% 5,714,000 $ 5,331,200 - .` , . 6,275,24dr $ 561,200 10% 36 • Capital Project Development and Delivery Continue project development, right of way, and construction activities on remaining 1989 Measure A projects including SR-74 curve widening, 74/215 interchange, SR-91 high occupancy vehicle (HOV) lanes/Adams Street to 60/91/215 interchange, and 60/215 East Junction HOV lane connectors. • Continue project activities on the 1-215 bi-county highway and Perris Valley Line rail projects, which were included in both the 1989 Measure A and 2009 Measure A programs. • Continue project work on the Western Riverside County Delivery Plan projects, including the 71/91 connectors; the SR-91, 1-15, and 1-215 corridor mobility improvement projects; SR-79 realignment; and Mid County Parkway. • Provide Western County TUMF funding and support to local jurisdictions for regional arterial project engineering, right of way acquisition, and construction. • Provide advance funding and support of 2009 Measure A highway and regional arterial projects and for the acquisition for land as mitigation in the Coachella Valley. • Maintain a, right of way acquisition and management program in support of capital projects. • Manage right of way acquisition schedules and budget control measures. • Maintain and manage the access, use and security of Commission -owned properties, properties in acquisition process, and income -generating properties. Table 13 — Capital Project Development and Delivery Personnel 2,36224,20 _ - :�"r0`re,M—�"r`•1 $ ,200 $ 2,705,900 $ 2,758800 i � E °r °+'c $ 2a,200 % Professional 3,994,700 13,704,900 5,781 900 ...� '-` �7t1f! ` (4,103,200) -30% Support 532,200 740,000 535,600 �--- "�°' $ rQQ 112,800 15% Projects and Operations 123,542,300 338,587,100 206,444,600 2t i' (66,546,600) -20% Capital Outlay (46,700) 95,700 101,900 39,300 41% Debt Service 193,301,600 106,225,000 122,607,600 d x} O;i9CiD (84,208,000) -79% Transfers Out 84,364,400 244,995,000 144,307,900 ,=; r�a (113,798,100) -46% TOTAL $ 408,050,700 $ 707,053,600 $ 402,538,300 r° $ (268,479,600) -38% Fund Balances The total fund balance as of June 30, 2011 is projected at $533,571,600. The Commission's budgeted activities for FY 2011/12 are expected to result in a $137,162,800 decrease of total fund balance at June 30, 2012 to $396,408,800. A significant portion of the decrease is related to the use of available fund balance for the Measure A, TUMF, and LTF special revenue funds to complete the 1989 Measure projects and programs and to fund approved TUMF projects and transit operations. Available debt proceeds from the 2010 bonds in the capital projects funds will also be used. Table 14 presents the components of fund balance by governmental fund type and program at June 30, 2012. 37 Table 14 — Projected Fund Balances by Governmental Fund Type and Program at June 30, 2012 Management Services Planning and Programming Rail Maintenance and Operations Budget Summary $6,77'3, r Measure AWestern County: 397,403 Bond financing 4,894,500 Commuter Assistance Economic Development Highways New Corridors Public and Specialized Transit Rail Regional Arterials Measure A Coachella Valley: Highways and Regional Arterial local Streets and Roads Specialized Transit $484,800 7,637,203 14,100 83,233,300 28,030,100 8,423,300 29,584,400 21,942,400 246,200 114,403 310,700 Measure A Palo Verde Valley Local Streets and Roads 40,000 Motorist Assistance 5,421,500 State Transit Assistance 32,523,400 Local Transportation Fund 74,593,300 MAW: CETAP 8,634,300 Regional Arterials 10,351,500 Highways $31,399,200 The overall budget for FY 2011/12 is presented in Table 15 by summarized line items, Table 16 by operating and capital classifications, and Table 17 by governmental fund type. Highway, rail, and regional arterial program expenditures by project are summarized in Table 18. 38 Table 15 — Budget Comparative by Summarized Line Item FY 2010-2012 Revenues Measure A Sales Tax LTF Sales Tax STA Sales Tax Federal Reimbursements State Reimbursements Local Reimbursements TUMF Revenue Other Revenue Investment Income TOTAL Revenues Expenditures Personnel Salary and Benefits Professional and Support Professional Services Support Costs TOTAL Professional and Support Costs Projects and Operations Program Operations - General Engineering Construction Design Build Right of Way/Land Operating and Capital Disbursements Special Studies Local Streets and Roads Regional Arterials TOTAL Projects and Operations Debt Service Principal Payments Interest Payments Cost of Issuance TOTAL Debt Service Capital Outlay TOTAL Expenditures Excess (deficiency) of Revenues over (under) Expenditures Other Financing Sources (Uses) Transfers In Transfers Out Debt Proceeds Bond Discount Net Financing Sources (Uses) Excess (deficiency) of Revenues over (under) Expenditures and Other Financing Sources (Uses) $ 114,526,200 56,697,900 12,802,000 15,064,100 10,091,500 1,613,700 8,618,200 1,853,600 5,663,200 226,930,400 5,775,200 9,901,900 4,086,500 13,988,400 10,277,200 41,559,800 14,923,600 3,669,100 12,157,300 56,505,500 1,405,100 34,256,700 11,920,200 186,674,500 57,738,500 5,240,300 130,349,000 193,327,800 124,100 399,890,000 $ 114,700,000 $ 114,700,000 56,700,000 56,700,000 28,870,700 25,210,100 830,700 9,300,000 178,000 1,830,000 237,619,500 6,225,000 21,949,700 4,320,800. 26,270,500 12,626;400 62,248,300 51,340,600 22,991,000 149,577,800 93,144,400 1,614,700 33,668,400 15,195,000 442,406,600 92,300,000 12,405,000 1,520,000 106,225,000 335,300 581,462,400 21,149,100 23,644,000 2,078,400 6,859,400 240,100 3,272,800 228,643,800 5,428,300 13,184,200 4,148,800 17,333,000 12,734,700 28,129,600 30,403,800 19,012,000 ;- 78,708,100 56,367,200 460,000 33,256,500 11,000,000 270,071,900 109,584,000 10,615,100 1,441,000 121,640,100 199,300 415,672,600 (172,959,600) (343,842,900) (187,028,800) 104,833,200 (104,833,200) 268,284,000 270,133,200 (270,133,200) 185,000,000 163,513,200 '. (163,513,200) 170,000,000 (967,500) ^. 114,700,000- $ - _56,7QO,tKiO: 9,S37300';� 9,537,000 23,65�700 - (5,220,000) 23 71f1a00 s (1 500,000) ;364,Y1©Q." 533,300 784,300,_ (15,700) 132,200 7720t11 142,200 °241,22$;5012 3,609,000 Dt1G',. 60- 900' 00 pi .`,Zd3C1 3007 40fl00,000; 0% 0% N/A -18% -6% 64% 0% 74% 8% 2% 196,300 3% (5,010,400) -23% 1,115,800 26% (3,894,600) -15% 4,356,700 35% (19,887,600) -32%. 7,537,000 15% 6,447,000 28% (65,685,800) -44% (6,727,900) -7% (863,700) -53% (500,400) -1% 20,000 0% (75,304,700) -17% (85,800,000) -93% 3,112,000 25% (1,520,000) -100% (84,208,000) -79% 139,900 42°% (163,071,100) -28% 166,680,100 -48% (109,397,900) -40% 109,397,900 -40% (145,000,000) -78% N/A 268,284,000 185,000,000 169,032,500 ^ ` 40,000,000. (145,000,000) -78% 95,324,400 (158,842,900) (17,996,300)--', 00)= 21,680,100 -14% Beginning Fund Balance 456,243,500 551,567,900 551,567 900 533,571;600 (17,996,300) -3% ENDING FUND BALANCE $ 551,567,900 $ 392,725,000 $ 533,571,600 $, 396,408,800 ! $ 3,683,800 1% 39 Table 16 — Operating and Capital Budget FY 2011/12 FY er09 Budd Revenues Measure A Sales Tax LTF Sales Tax STA Sales Tax Federal Reimbursements State Reimbursements Local Reimbursements TUMF Revenue Other Revenue Investment Income TOTAL Revenues Expenditures Personnel Salary and Benefits Professional and Support Professional Services Support Costs TOTAL Professional and Support Costs Projects and Operations Program Operations - General Engineering Construction Design Build Right of Way and Land Operating and Capital Disbursements Special Studies Local Streets and Roads Regional Arterials TOTAL Projects and Operations Debt Service Principal Payments Interest Payments Cost of Issuance TOTAL Debt Service Capital Outlay TOTAL Expenditures Excess (deficiency) of Revenues over (under) Expenditures Other Financing Sources (Uses) Transfers In Transfers Out Debt Proceeds Net Financing Sources (Uses) Excess (deficiency) of Revenues over (under) Expenditures and Other Financing Sources (Uses) Beginning Fund Balance ENDING FUND BALANCE $ 11,365,000 $ 103,335,000 56,700,000 9,537,000 2,551,600 4,263,000 711,600 21,099,100 19,447,100 652,400 9,284,300 310,200 701,400 1,270,800 85, 829, 600 155, 398, 900 3,691,200 3,626,600 4,583,800 8,210,400 7,973,900 86,416,500 671,000 2,730,100 9,009,200 42,360,700 58,877,600 29,438,000 83,892,000 80,000 33,168,000 15,215000 ii.za... 95,061,400 272,040,500 (21,473,600) 31,644,000 (24,538,400) 6,500,000 15,517,000 22,017,000 135,000 311,088,100 (155,689,200) 129,091,300 (136,196,900) 40,000,000 32,894,400 (14,368,000) (122,794,800) 155,353,900 378,217,700 $ 140,985,900 $ 255,422,900 i0,735309)u 4i1,00�,p�3b`E �O 533,57, 00'. $ 396,408,800 40 • Table 17 — Budget by Governmental Fund Type FY 2011/12 Revenues Measure A Sales Tax 5 2,700,000 $ 112,000,000 $ LTF Sales Tax - 56,700,000 STASales Tax 9,537,000 Federal Reimbursements 30,500 23,620,200 State Reimbursements 663,000 23,047,100 Local Reimbursements 187,200 1,176,800 TUMF Revenue 9,284,300 Other Revenue 310,200 Investment Income 60,100 1,550,700 TOTAL Revenues Expenditures Personnel Salary and Benefits Professional and Support Professional Services Support Costs TOTAL Professional and Support Costs Projects and Operations Program Operations - General Engineering Construction Design Build Right of Way/Land Operating and Capital Disbursements Special Studies Local Streets and Roads Regional Arterials TOTAL Projects and Operations Debt Service Principal Payments Interest Payments Cost of Issuance TOTAL Debt Service Capital Outlay TOTAL Expenditures Excess (deficiency) of Revenues over (under) Expenditures Other Financing Sources (Uses) Transfers In Transfers Out Debt Proceeds Net Financing Sources (Uses) 3,640,800 237,226,300 3,225,500 3,195,800 2,490,000 14,449,300 3,190,300 2,246,300 5,680,300 16,695,600 DebtSerAe 156,200 205,200 156,200 1,465,900 15,517,200 - - 42,360,700 56,977,600 1,900,000 29,438,000 78,892,000 5,000,000 22,639,500 63,777,000 - 671,000 80,000 - - 33,168,000 - - 15,215,000 24,776,400 335,425,500 6,900,000 210,200 265,000 33,892,400 355,581,900 6,500,000 300,000 15,217,000 300,000 21,717,000 7,200,000 21,717,000 114,700,0130 56,700,OD0 9,537,000' 23,650,700'i 3j710,100 �,36.4,000 ,284.300`: �97�;2p0 O,939,300 3Y ¢00'i 91300- (30,251,600) (118,355,600) (7,043,800) (21,511,800)�. (1'?7,1b$800)''.. 30,494,000 108,524,300 21,717,000 169,735,300 (9,200) (85,773,000) (71,699,000) (3,254,100)', (160,735,300) 40,000,000 _40,00000.0 30,484,800 22,751,300 (31,699,000) 18,462,900 Excess (deficiency) of Revenues over (under) Expenditures and Other Financing Sources (Uses) 233,200 (95,604,300) (38,742,800) (3,048,900) Beginning Fund Balance ENDING FUND BALANCE #O,Od0�p00 r 11,838,500 407,304,700 70,142,000 44,286,400 ? $33,571,600` 12,071,700 $ 311,700,400 $ 31,399,200 5 41,237,500 $' 396,408;809 41 Table 18 — Highway, Regional Arterial, and Rail Programs FY 2011/12 Projects and Operations Bechtel Program Management SCRRA Program Management General (Commuter Assistance) TOTAL PROJECTS -GENERAL Highway Engineering 74/215 Interchange 71/91 Connectors 1-15 Corridor Improvements 1-215 Corridor Improvement (Central Segment)/Scott Road to Nuevo Road 1-215 Southhound to 1-15 Connector Widening Gap Closure Mid County Parkway SR-91 Corridor Improvements SR-91 HOV Lanes/Adams Street to 60/91/215 Interchange Economic Development Project General SUBTOTAL HIGHWAY ENGINEERING Regional Arterial Engineering Various Western County TUMF Regional Arterial Projects SUBTOTAL REGIONAL ARTERIAL ENGINEERING Rail Engineering Perris Valley Line and Other Related Projects Riverside Layover Facility SUBTOTAL RAIL ENGINEERING TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL ENGINEERING Highway Construction SR-74/1-15 to 7th Street 74/215 Interchange 1-215 Corridor Improvements (South Segment)/1-15 to Scott Road SR-74 Curve Widening SR-91/La Sierra Interchange SR-91/Van Buren Interchange SUBTOTAL HIGHWAY CONSTRUCTION Regional Arterial Construction • Various Western County TUMF Regional Arterial Projects Various Coachella Valley Highway and Regional Arterial Projects SUBTOTAL REGIONAL ARTERIAL CONSTRUCTION Rail Construction Perris Valley Line and Other Related Projects SUBTOTAL RAIL CONSTRUCTION TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL CONSTRUCTION Highway Design Build SR-91 Corridor Improvements TOTAL HIGHWAY DESIGN BUILD Highway Right of Way and Land 74/215 Interchange 60/215 East Junction HOV lanes Connector 1-215 Corridor Improvement (Central Segment)/Scott Road to Nuevo Road Mid County Parkway SR-74 Curve Widening SR-74/1-15 to 7th Street 71/91 Connectors SR-91 Corridor Improvements SR-91 HOV Lanes/Adams Street to 60/91/215 Interchange Coachella Valley MSHCP SUBTOTAL HIGHWAY RIGHT OF WAY AND LAND Regional Arterial Right of Way and Land Various Western County TUMF Regional Arterial Projects SUBTOTAL REGIONAL ARTERIAL RIGHT OF WAY AND LAND Rail Right of Way and Land Perris Valley Line and Other Related Projects General SUBTOTAL RAIL RIGHT OF WAY AND LAND TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL RIGHT OF WAY AND LAND GRAND TOTAL HIGHWAY, REGIONAL ARTERIAL, AND RAIL PROGRAMS 6,218i20(K:'. 1,4 ` Se. 0,117,600 755000 45;000 ,R80,000 O1/00. s5a001 ,2$f1.000 4,300,li0 4,370,000 'S,O:OO;OW 55;.869,Q06'.. (60 17 16,264,000 50.000 16;314,000 '. (89 892,p09 224,685,9012,:: 42 4/25/2011 Proposed Budget Fiscal Year 2011/12 emu" Budget Process • RCTC Department Budget Department Development Goals and Objectives Commission Policy Goals Resource Estimation Budget Compilation Budget Review and Adoption 1 4/25/2011 Intermodallsm & Accessibility Public and Agency Communications Financial and Administration FY 2011/12 Budget Considerations RCTC r— • Impact on transit operations and capital project needs Flat sales tax revenues following years of declines Flat TUMF revenues • Use of TUMF reserves for project expenditures Financing needs and related costs • Issuance of commercial paper in FY 2011/ 12 • Issuance of toll revenue bonds in FY 2012/ 13 !!reject-drivennature rAfRcr aperatIons: • Use of accumulated Nerves for projects and programs • Flexibility to change scope and timing of projects • Small staff with heavy use of consultants • Interfund borrowing policy, if required 2 4/25/2011 Budget Summary RCTC Beginning Fund Balance Revenues Debt Proceeds Transfers In Total Estimated Sources Expenditures Debt Service Transfers Out Total Estimated Uses Uses Over Sources (offset bybeginning fund balance) Ending Fund Balance 241,228,500 40,000,000 160735,300 (396,374,300) (22,017,000) (16(1735,300) $ 533,571,600 441,963,800 (579,126,600) (137,162,800) $ 396,408,800 Sources by Breakdown RCTC FY 10/11 FY 10/11 - FY W12 Revised Budget Projected Budget Measure A Sales Tax $ 114,700,000 $ 114,700,000 $ 114,700,000 LTFSales Tax 56,700,000 56,709,000 56,700,000 STA Sales Tax 9,537,000 Intergovernmental 54,911,503 46,871,500 48,724,800 TUMF Revenue 9,3C0,000 6,859,400 9,284,300 Other Revenue 178,000 240,103 310,200 Investment income 1,830,000 3,272,8C0 1,972,200 Operating Transfers In 270,133,200 163,513,2C0 160,735,300 Debt Proceeds 185,000,030 170,000WO 40000,C00 TOTAL Sources $ 692,752,700 $ 562,157,000 $ 441,963,800 3 4/25/2011 Sources Comparison RCTC 9 s Ssoo Szso $200 S too Ss t' S- _-igN1 __—'ii ome c`'¢ Cie osJ`¢Pc a��etc Pe+¢ ��`�¢�+cM4o v Mg +°' <� M 9 ■ FY 10/11 Revised Budget ■ FY 10/11 Projected • FY 11/12 Budget 4 4/25/2011 „rhe- d¢ d� cps, 4,6 v° • FY 10/11 Revised Budget ■ FY 10/11 Projected • FY 11/12 Budget Expenditure Breakdown RCTC b Department Capital Highway, Rail, and Regional Arterials Capital Local Streets and Roads Commuter Assistance Debt Service Management Services Motorist Assistance Planning and Programming Public and Specialized Transit Rail Maintenance and Operations TOTAL Expenditures FY 10H1 FY 10/11 Ft11/12 ; Revised Budget Projected Budget $ 322,165,200 33,668,400 4,174,600 106,225,000 9,100,200 4,450,500 9,651,100 60,149,500 31,877,900 182,366,300 $ 252,192,100 33,256,500 33,168,030 4,046,103 4,220,800 121,640,103 22,017,000 8,546,700 8,770,030 4,067,700 5,160,900 2,843,800 6,933,600 48,100,700 64,341,200 10,804,700 21,587,700 $ 581,462,400 $ 415,672,600 $ 418,391,300 Expenditure Breakdown Comparison RCTC $350 _. $ $20o T' 525o +' $zoo - $150 Sioo Sso Mil mo 11111 toadS bS M PO° ,y� '¢ a"' 4 cc,°r �y eeS �&° 4afi� Qao� �3°' 096 c' fig a c� Q�,aw�s e�. 5 4/25/2011 Capital Department Expenditure Highlights RCTC • SR-91 HOV Lanes/Adams Street to 60/91/215 Interchange 74/215 Interchange SR-91, 1-15 and 1-215 Corridor Improvements PARK x RICE _Functional Expenditures Breakdown RCTC FY 113131 FY 19/11 ` ': FY 3A/12 Revised Budget Projected Budget Personnel Salary and Benefits $ 6,225,000 $ 6,428,300 $ 6,421,360 Professional Services 21,949,700 13,184,200 16,939,300 Support Costs 4,320,800 4,148,930 5,436,600 Projects and Operations 442,406,600 270,071,900 367,101,900 Debt Service 106,225,000 121,640,100 _ 22,017,030 Capital Outlay 335,300 199,300 475,200 TOTAL Expenditures $ 581,462,400 $ 415,672,600 $ 418391,300 Personnel Salary & Benefits 3% Support Costs 26% Capital Outlay 42% a Professional Services 23% Projects & Operations 17% Debt Service 79% 6 4/25/2011 Functional Expenditures Comparison RCTC 515 i,,.- `- $ J Personnel Protestant Suppntt(m¢ Projects one peer Service Salary and Services Operates &netts • PI10/110evued Badges • Pt 10/11 Prafected • rY 11/12 Bone Next Steps RCTC Continue monitoring revenues Measure R administrative salaries and benefits Saks tax and TUMF revenue trends. herding needs ,tor projects sat transit operators i Timeliness 9ffederal and state: reimbursement's Open public hearing May 11, 2011 Close public hearing and adopt budget June 8, 2011 7 • RIVERSIDE COUNTY TRANSPORTATION COMM/SS/ON DATE: April 25, 2011 TO: Budget and Implementation Committee FROM: Greg Moore, Procurement and Assets Manager THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Recurring Contracts for Fiscal Year 2011/12 STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve the recurring contracts for FY 201 1 /12; 2) Authorize the Chair, pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION• As in previous years, the Commission annually evaluates existing contracts for professional services that are due to expire within the next fiscal year. These contracts may be placed on the calendar for a new procurement solicitation, allowed to expire because they are no longer required, or included in the annual recurring contracts list that is subject to Commission approval. Most contracts for professional services are subject to a competitive process. This year's list of recurring contracts includes consultants that are providing unique or specialized services and working closely with staff on long-term projects. Staff desires to retain a limited number of consultants on the recurring contracts list because of their historical knowledge, unique experience and understanding of the Commission, and specific Commission projects. Under limited circumstances, staff believes it is more efficient and cost effective to retain the consultants on the recurring contracts list rather than rebidding the services at this particular time. Approval of the recurring contracts list will allow the Commission to continue work on existing projects without interruptions and maintain consistency. Below is the list of proposed recurring contracts for FY 2011 /12, followed by a summary for each consultant supporting its inclusion on the recurring contracts list: Agenda Item 9 43 Schedule of Recurring Contracts for FY 2011/12 Consultant Name Description of Services Budget FY 10/11 Budget FY 11/12 Dollar Change AMMA Transit Planning (AMMA) Consultant support for a Pministration of Specialized Transit Program under Measure A and federal programs $ 96,000 $ 100,000 $ 4,000 Bechtel Infrastructure (Bechtel) Capital project program management services 4,861,000 6,444,000 1'.,583,000 Best, Best &Krieger LLP (BB&K) General legal services 1,760,000 2,325,000 565,000 Epic Land Solutions, Inc. (Epic) Support services for property management of Commission -owned properties and related contracts 440,000 440,000 0 Fieldman Rolapp & Associates (Fieldman) Financial advisory services 180,000 180,000 0 Geographics Graphic design and web services for Multimodal Services Department 1,096,000 750,000 (346,000) Orrick, Herrington & Sutcliffe LLP (Orrick) Bond Counsel Services 190,000 190,000 0 San Bernardino Associated Governments (SANBAG) Call answering center services for Riverside County call boxes 40,400 40,400 0 Total $ 8,663,400 $10,469,000 $ 1,805,600 Budget FY 10/11 Budget FY 11/12 Dollar Change 5-Year Contract Civic Resources Group (CRG)' Database hosting! management services $ 14,500 $ 34,500 $ 20,000 $122,500 Trillium Insight, Inc. (Trillium)' Google transit feed services 7,000 7,000 0 35,000 TransTrack Systems, Inc. (TransTrack)' End -user software license, training and support 32,000 32,000 0 160,000 Total $ 53,500 $ 73,500 $ 20,000 $ 317,500 'These are contracts with consultants providing specialized services on long-term projects at,a fixed price. These contracts do not need to be negotiated annually as service level and pricing is not expected to change during the period of performance. Staff desires to enter in to a five-year agreement with each of these consultants for the aggregate amount shown in the Budget FY 2011/12 area above. Agenda Item 9 • 44 • AMMA In February 2007, AMMA was selected under a competitive procurement process to provide consulting services for the development and implementation of the Coordinated Public Transit -Human Services Transportation Plan (Coordinated Plan), as well as the nexus of the Coordinated Plan to the receipt of federal Jobs Access Reverse Commute and New Freedom grant funds. AMMA guides staff regarding the grant application process for the FTA Section 5310 Elderly and Disabled Specialized Transit program. Additionally, AMMA advises staff regarding the implementation of operator reporting for the current Specialized Transit Universal Call for Projects and assists in the development of the application and eligibility guidelines for the Specialized Transit Universal Call for Projects pertaining to the next two-year funding cycle. Bechtel Inf restructure The Bechtel contract for FY 201 1 /12 reflects a 33% increase over last year, due to increases in staffing. Many of the Commission's projects, including the State Route 91 Corridor Improvement Project (SR-91 CIP), Perris Valley Line, and widening projects on the Interstate 215 are entering the more labor-intensive design -build or construction phases, necessitating an increase in staffing to support this work. Bechtel is continuing program management and construction management activities of highway and rail projects for the 2009 Measure A program, as well as the wrap-up of delivery for the remaining 1989 ` Measure A program. Bechtel possesses the knowledge and background history of the Commission's capital projects, which is necessary to deliver the Commission's Measure A projects. The flexibility of obtaining additional support from Bechtel as needed for specific project requirements is also important and avoids the need to increase Commission staff. BB&K The BB&K contract for FY 2011/12 reflects an increase of 32%, which is primarily attributable to an increase in the anticipated level of continuing general legal services required for capital project activities, including right of way, related to the wrap-up and delivery of 1989 Measure A highway and commuter rail projects as well as Transportation Uniform Mitigation Fee (TUMF) regional arterial projects. In recent years, the Commission has engaged other legal firms for specific matters involving potential conflicts of interest as well as specialized legal services. Epic Epic was selected through a competitive procurement process in 2003 for property management services, including reviewing the ownership of al► Commission -owned properties; identifying, inventorying and cataloging over 600 leases, licenses and Agenda Item 9 45 easements on Commission -owned property; evaluating fair market value of the uses of Commission -owned property; establishing and maintaining a database to capture all of the Commission's property and contract information; marketing and selling excess land; and resolving complex title issues. Due to its accumulated knowledge and development of various property management projects, resources, and databases associated with the multitude of Commission -owned properties, including but not limited to those along the San Jacinto Branch Line, staff determined that Epic can most efficiently and cost effectively provide the services described above. The contract amount is anticipated to remain unchanged. Epic has an audited overhead rate (salary multiplier) of 3.34, but, for purposes of this contract, is willing to accept an overhead rate of 3.0 (10% below the audited amount). Staff intends to solicit proposals for the foregoing services for new projects. Fieldman Fieldman was selected as the Commission's financial advisor in late 2003, following a procurement process, and provided financial advisory services on general finance matters and specific financing transactions related to the 2009 Measure A program. Fieldman is involved in the extension or replacement of the liquidity facility for the 2009 sales tax revenue bonds which expires in September 2011, the extension or termination of the standby letter of credit for the commercial paper program, expiring in March 2012, and the planning for the toll financing activities related to the SR-91 CIP that are expected to occur in FY 2012/13. Based on current financing activities in progress as well as Fieldman's knowledge and understanding of the Commission, staff determined it would be more efficient and cost-effective for continuity purposes to retain Fieldman. Staff intends to solicit new proposals for financial advisory services following the conclusion of these anticipated financing transactions. Geographies Upon the completion of a competitive procurement process in December 2006, Geographies was awarded a professional services contract to support the Commission with the provision of graphic design and communications services, including but not limited to advertising design and production, website development, collateral and publication design, and media buys. These services are especially critical as it relates to multimodal services programs (commuter assistance, motorist assistance, rail, and transit) that account for a majority of the Commission's outreach. In addition, two mission critical projects are currently underway, transition of many aspects of the Commuter Assistance Program to an interactive, web -based environment hosted through the Inland Empire 511 (IE511) website and increasing deployment of 1E511 as the Commission's public face for Agenda Item 9 • • 46 • multimodal services. As architect of the 1E511 system, a technologically advanced and complex web environment, Geographies is uniquely able to advance the Commission's goals for this program. The FY 2011 /12 budget for Geographics services related to the multimodal services programs is $750,000, of which approximately 64% represents pass through expenses on items such as media (print, radio, online) or printed collateral. The 32% budget decrease relative to FY 2010/11 reflects both the transition from launch to operations for the 1E511 system and the reduction in scope for a South Coast Air Quality Management District -funded project supporting 1E511. Since the Commission manages both the Riverside County and San Bernardino County Commuter Assistance and 1E511 programs, San Bernardino Associated Governments (SANBAG) will reimburse approximately 50% of the total Geographics contract cost for the related services are provided to or otherwise benefit the San Bernardino County programs. Orrick Orrick was selected as bond counsel in late 2004, following a competitive procurement process, and has provided bond counsel services in connection with the financings and other matters related to the 2009 Measure A program, including the SR-91 CIP. Orrick has a high level understanding of the Commission's 2009 Measure A program and related financings and has significant experience with other transportation agencies, especially self-help counties. Accordingly, staff determined that it would be more efficient and cost-effective to continue to retain Orrick in order to complete the financing activities related to the 2009 sales tax revenue bonds, commercial paper program, and toll financings. Staff intends to solicit proposals for bond counsel services following these transactions. SANBAG In February 2002, SANBAG's Service Authority for Freeway Emergencies (SAFE) and the Commission's SAFE began to jointly operate a private call answering center through a SANBAG contract with Professional Communications Network (PCN) that was procured on a competitive basis. PCN has provided an outstanding level of service for both agencies. SANBAG is currently conducting a competitive procurement for these services. The estimated budget for FY 201 1 /1 2 will support operations and includes potential costs associated with transitioning to a new vendor; however, there is not expected to be an overall change to the total contract value. This is a result of offsetting the FY 2010/11 budget for one-time custom programming and equipment upgrades in FY 2011 /12 with potential incremental costs for such a transition. Agenda Item 9 47 Specialized Services on Long -Term Projects for Multiple Year Contracts CRG In April 2006, CRG was awarded a contract following a competitive procurement to develop a web -based project management database (Fundtrack) for the purpose of monitoring project funds and tracking project schedules. Fundtrack is used by the Programming Department, jurisdictions with projects in the County, and other agencies. After a market survey by staff of other hosting options, it was determined that CRG was the most advantageous option for hosting the database as its cost was slightly lower than others. Staff recommends that the current contract be extended for a five-year period for a total not to exceed amount of $122,500. The FY 2011/12 budget is $34,500, including $20,000 for minor improvements and upgrades of Fundtrack. The subsequent four-year period includes $58,000 for hosting/management service and $30,000 for upgrades of Fundtrack. Trillium Trillium was selected through a competitive procurement process conducted in cooperation with SANBAG in 2010 for services related to the implementation of transit data feeds between local transit agencies and Google as part of the 1E511 launch. Trillium publishes General Transit Feed Specifications (GTFS) formatted data for selected Riverside County transit agencies; submits data to Google; performs validations; and coordinates between Google, transit agencies, and the Commission to integrate transit data into Google maps. The transit operators use and have become familiar with the particular Google transit feed tool developed by Trillium to help streamline the process and ensure an accurate and smooth data feed, which ultimately benefits users of the Google and 1E511 transit itinerary function. Staff recommends that the current contract be extended for a five-year period for a total not to exceed amount of $35,000, which reflects no change in the annual cost. Accordingly the FY 2011/12 budget is $7,000 with $28,000 for similar services in the subsequent four year period. TransTrack In December 2005, the Commission approved a sole. source agreement with TransTrack for the Transit Performance Manager software application implementation and training package for a total amount of $52,000. The agreement included a provision that the license may be renewed for an additional year for an extension of the annual service, maintenance fees, training and support. The public operators use this software to consolidate and integrate their operations Agenda Item 9 • • 48 • and performance data in the TransTrack system, which enables the Commission and operators to get real-time operation information and timely performance reports. Major accomplishments included additional customized reports to support the Commission's Productivity Improvement Program. TransTrack continues to be an important tool in assisting Commission staff to review the transit operators' performance to ensure compliance with the farebox recovery ratio. During the annual preparation of Short Range Transit Plans (SRTP), the transit operators use the customized reports to complete required SRTP reports. Staff recommends that the current contract be extended for a five-year period for a total not to exceed amount of $160,000, which reflects no change in the annual cost. Accordingly the FY 2011/12 budget is $32,000 with $128,000 for similar services in the subsequent four-year period. Financial Information In Fiscal Year Budget: N/A Year: FY 2011/12 Amount: $10,542,500 Source of Funds: Measure A, TDA, TUMF, FSP, SAFE Fees, Interest, and Other Budget Adjustment: N/A GLA No.: Various Fiscal Procedures Approved: \ ,,vir, Date: 04/18/11 Agenda Item 9 49 • RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: May 11, 2011 TO: Budget and Implementation Committee FROM: Theresia Trevino, Chief Financial Officer THROUGH: John Standiford, Deputy Executive Director SUBJECT: Annual Investment Policy Review STAFF RECOMMENDATION: This item is for the Committee to: 1) Adopt ' Resolution No. 1 1-004, "Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy" 2) Adopt the Annual Investment Policy; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION: Section XIV of the Investment Policy requires an annual investment policy review and specifically states that the "Chief Financial Officer shall annually render to the Board a statement of investment policy, which the Board must consider at a public meeting. Any changes to the policy shall also be considered by the Board at a public meeting." Based on a review of the Investment Policy approved by the Commission on May 12, 2010, and consideration of changes to the California Government Code as of January 1, 2011, staff in consultation with the County Treasurer's Office staff has determined that minor changes should be made to: 1) adjust minimum ratings for state general obligation bonds to be similar to state revenue bonds; and 2) eliminate redundancies or ambiguities related to the policy's purpose and objectives. Attachments: 1) Resolution No. 1 1-004 2) Draft Investment Policy Agenda Item 10 50 • RESOLUTION NO. 11-004 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION REGARDING THE REVISED INVESTMENT POLICY WHEREAS, the Riverside County Transportation Commission (the "Commission") currently retains the authority to add, delete or otherwise modify the Commission's policies and procedures. NOW, THEREFORE, the Riverside County Transportation Commission does hereby resolve as follows: Section 1. The Riverside County Transportation Commission hereby adopts the Investment Policy, as revised on May 11, 2011, and attached as Exhibit A. APPROVED AND ADOPTED this 1 1'h day of May, 2011. Gregory S. Pettis, Chair Riverside County Transportation Commission ATTEST: Jennifer Harmon Clerk of the Board 51 • 1. INVESTMENT POLICY Introduction The purpose of this document is to identify policies and procedures that enhance opportunities for a prudent and systematic investment program and to organize and formalize investment -related activities. II. Scope It is intended that this Policy cover all funds (except retirement funds) and investment activities under the direction of the Commission. III. Delegation of Authority Pursuant to the Commission's Administrative Code, the Board's management responsibility for the investment program is hereby delegated for a one-year period to the Executive Director who shall monitor and review all investments for consistency with this investment policy. Subject to review, the Board may renew the delegation of authority pursuant to this section each year. The Executive Director may delegate these duties to his designee ("Chief Financial Officer"). The Commission may delegate its investment decision making and execution authority to an investment advisor. The advisor shall follow this Policy and such other written instructions as are provided. IV. Prudence All persons authorized to make investment decisions on behalf of the Commission are subject to the prudent investor standard. Investments shall be made with care, skill, prudence and diligence under circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Commission that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Commission. Revised May 12, 2010May 11, 2011 52 Authorized individuals acting in accordance with this Policy and written procedures and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion. V. Objective The Commission's primary investment objectives, in priority order, shall be: 1. Safety. Safety of principal is the foremost objective of the investment program. Investments of the Commission shall be undertaken in a manner that seeks to ensure preservation of capital in the portfolio. 2. Liquidity. The investment portfolio of the Commission will remain sufficiently liquid to enable the Commission to meet its cash flow requirements. 3. Return on Investment. The investment portfolio of the Commission shall be designed with the objective of maximizing return on its investments, but only after ensuring safety and liquidity. In order to maximize return on its investments, the Commission seeks an active rather thala pass+vc FRalaagelaicnt of portfolio assets. The Commission may from time to time sell securities that it owns in order to better reposition its portfolio assets in accordance with updated cash flow schedules, yield curve optimizations, yield opportunities existing between market sectors, or simply market timing. VI. Investments California Government Code Section 53601 governs the investments permitted for purchase by the Commission. Within the investments permitted by Code, the Commission seeks to further restrict eligible investments to the investments listed in Section V1.1 below. Percentage limitations, where indicated, apply at the time of purchase. Percentage holdings with any one non-U.S. Government issuer or non -Federal Agency issuer are further restricted to a maximum of 10% (direct and indirect commitments). Rating requirements where indicated, apply at the time of purchase. In the event a security held by the Commission is subject to a rating change that brings it below the minimum specified rating requirement, the Chief Financial Officer shall notify the Board of the change. The course of action to be followed will then be decided on a case -by -case basis, Revised May 12, 2010May 11, 2011 • 53 • considering such factors as the reason for the rate drop, prognosis for recovery or further rate drops, and the market price of the security. 1. Eligible Investments A. U.S. Government Issues. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest. B. Federal Agency Securities. Federal agency or United States government -sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government -sponsored enterprises. C. Municipal Bonds. Registered treasury notes or bonds of any of the other 49 United States, in addition to California, payable solely out of the revenues from a revenue -producing property owned, controlled, or operated by a state or by a department, board, agency or authority of any of the other 49 United States, in addition to California. Such securities must have ratings from at least two of three ratings as follows: "Aa3" by Moody's Investors Service, or "AA-" by Standard & Poor's, or "AA-" by FitchRatings; or as otherwise approved by the Commission. Registered general obligation treasury notes or bonds of any of the 50 United States. Such securities must have ratings from two of three ratings as follows: at least "A-2Aa3" by Moody's Investors Service, or "AA-" by Standard & Poor's, or "AA-" by FitchRatings; or as otherwise approved by the Commission. Adjustable rate registered treasury notes or bonds of any of the 50 United States, including bonds payable solely out of the revenues from a revenue -producing property owned, controlled, or operated by a state or by a department, board, agency or authority of any of the other 49 United States, in addition to California. Such securities must have ratings from at least two of three ratings as follows: "P-1" by Moody's Investors Service, or "A-1 +" by Standard & Poor's, or "F-1 +" by FitchRatings; or as otherwise approved by the Commission. Revised May 12, 2010May 11, 2011 54 Adjustable rate notes or bonds warrants, or other evidences of indebtedness of any local agency within the State of California with a minimum rating of either "P-1 " by Moody's Investors Service, or "A-1 +" by Standard & Poor's, or "F-1 +" by FitchRatings, including bonds, notes, warrants, or other evidences of indebtedness payable solely out of the revenues from a revenue -producing property owned, controlled, or operated by either the local agency, a department, board, agency, or authority of the local agency, or of any local agency within this state. Taxable or tax-exempt bonds, notes, warrants, or other evidences of indebtedness of any local agency within the State of California with a minimum rating of either "Aa3" by Moody's Investors Service, or "AA-" by Standard & Poor's, or "AA-" by FitchRatings (the minimum rating shall apply to the local agency, irrespective of any credit enhancement), including bonds, notes, warrants, or other evidences of indebtedness payable solely out of the revenues from a revenue -producing property owned, controlled, or operated by either the local agency, a department, board, agency, or authority of the local agency, or of any local agency within this state. Investments in municipal bonds are further limited to 15% of surplus funds. D. Repurchase Agreements. Repurchase agreements are to be used solely as short-term investments not to exceed 30 days. The Commission may enter into repurchase agreements with primary government securities dealers rated "A" or better by two nationally recognized rating services. Counterparties should also have (i) a short-term credit rating of at least A-1/P- 1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. The following collateral restrictions will be observed: Only U.S. Treasury securities or Federal Agency securities, as described in V.1 A and B, will be acceptable collateral. All securities underlying repurchase agreements must be delivered to the Commission's custodian bank versus payment or be handled under a properly executed tri-party repurchase agreement. The total market value of all collateral for each repurchase Revised May 12, 2010May 11, 2011 • 55 • agreement must equal or exceed 102 percent of the total dollar value of the money invested by the Commission for the term of the investment. For any repurchase agreement with a term of more than one day, the value of the underlying securities must be reviewed on an on -going basis according to market conditions. Market value must be calculated each time there is a substitution of collateral. The Commission or its trustee shall have a perfected first security interest under the Uniform Commercial Code in all securities subject to repurchase agreement. The Commission shall have properly executed a PSA agreement with each counterparty with which it enters into repurchase agreements. E. U.S. Corporate Debt. Medium -term notes, defined as all corporate and depository institution securities with a maximum remaining maturity of five years or less, issued by corporations organized and operating within the United States or depository institutions licensed by the United States or any state and operating within the United States. Eligible investment shall be rated "AA" or better by one or more nationally recognized rating service. Investments in U.S. Corporate Debt are further limited to 20% of surplus funds F. Commercial Paper. Commercial paper rated in the highest category by one or more nationally recognized statistical rating organization (NRSRO). The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph (2): (1) The entity meets the following criteria: (A) Is organized and operating in the United States as a general corporation. (B) Has total assets in excess of five hundred million dollars ($500,000,000). (C) Has debt other than commercial paper, if any, that is rated "A" or higher by a NRSRO. (2) The entity meets the following criteria: (A) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (B) Has program -wide credit enhancements, including, but not limited to, over collateralization, letters of credit, or surety bond. (C) Has commercial paper that is rated "A-1" or higher, or the equivalent, by a NRSRO. Purchases of eligible commercial paper may not exceed 270 Revised May 12, 2010May 11, 2011 56 days maturity nor represent more than 10 percent of the outstanding paper of an issuing corporation. Investments in commercial paper are limited to a maximum of 30% of surplus funds. G. Bankers Acceptances. Banker's acceptances issued by domestic or foreign banks, which are eligible for purchase by the Federal Reserve System. Purchases of banker's acceptances may not exceed 180 days maturity. Eligible banker's acceptances are restricted to issuing financial institutions with short-term paper rated in the highest category by one or more nationally recognized rating service. Investments in banker's acceptances are further limited to 40% of surplus funds with no more than 30% of surplus invested in the banker's acceptances of any one commercial bank. H. Money Market Mutual Funds. Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1, et seq.) and that invest solely in U.S. treasuries, obligations of the U.S. Treasury, and repurchase agreements relating to such treasury obligations. The Commission may invest in shares of beneficial interest issued by accompany shall have met either of the following criteria: (1) Attained the highest ranking or the highest letter and numerical rating provided by not less than two nationally recognized rating services. (2) Retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years' experience managingmoney market mutual funds with assets under management in excess of five hundred million dollars 0 500, 000, 000►. The purchase price of shares of beneficial interest purchased pursuant to this subdivision shall not include any commission that the companies may charge. Investments in Money Market Mutual Funds are further limited to 20% of surplus funds. 1. Riverside County Pooled Investment Fund ("RCPIF" ). The Commission may invest in the Riverside County Pooled Investment Fund. As on -going due diligence, the Chief Financial Officer shall obtain the information listed below: Revised May 12, 2010May 11. 2011 • 57 • • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. J. State of California Local Agency Investment Fund ("LAIF"). The Commission may invest in LAIF. As on -going due diligence, the Chief Financial Officer shall obtain the information listed below: • A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period. K. Certificates of Deposit. Negotiable Certificates of Deposit (NCD's): NCDs are money market instruments issued by a bank. They specify that a sum of money has been deposited, payable with interest to the bearer of the certificates on a certain date. NCDs are issued by nationally or state chartered bank or state or federal savings and Revised May 12, 2010May 11, 2011 58 loan association. All purchases must be from institutions rated by a nationally recognized rating organization, as designated by the U.S. Securities and Exchange Commission. The maturity of NCDs shall not exceed 180 days to maturity, and purchases of NCDs shall not exceed fifteen percent (15%) of the Commission's investment portfolio. NCDs shall be evaluated in terms of the credit worthiness of the issuing institution, as these deposits are uninsured and uncollateralized promissory notes. FDIC -insured Certificates of Deposit: The principal amount of the investment must be federally insured through the Federal Deposit Insurance Corporation (FDIC). No more than the prevailing FDIC insured coverage amount may be invested with any one deposit. Certificates of Deposit placed through the Certificate of Deposit Account Registry Service (CDARS) shall be considered fully insured, assuming that the total amount invested with any participating bank is limited to the prevailing FDIC insured coverage amount. Interest on the principal must be paid to the Commission at least annually. The placement of Certificates of Deposit with local banks that qualify in accordance with Government Code section 53601(h) is encouraged. The Commission, at its discretion, may invest a portion of its surplus funds in certificates of deposit at a commercial bank, savings bank, savings and loan association, or credit union using a private sector entity to assist in the placement of such certificates, provided that it complies with Government Code Section 53601.8. Such investments may not exceed in total twenty percent (20%) of the Commission's funds invested pursuant to Government Code Sections 53601 .8, 53635.8 and 53601, and shall have a maximum maturity of one year from the date of the deposit. Collateralized Certificates of Deposit: For investments exceeding $100,000, there will be a waiver of collateral for the first $100,000 deposited and protected by FDIC insurance. The remainder of the deposit shall be fully collateralized by U.S. Treasury and Federal Agency securities having maturities less than five years. The District must receive written confirmation that these securities have been pledged in repayment of the time deposit. The securities pledged as collateral must have a current market value greater than the dollar amount of the deposit in keeping with the ratio requirements specified in Section 53652 of the Government Code. Additionally, a Revised May 12, 2010May 11, 2011 • • 59 • • • statement of the collateral shall be provided to the Commission on a monthly basis. Such investments may not exceed in total fifteen percent (15%) of the Commission's funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one year from the date of the deposit. L. Time Deposits. Federal Deposit Insurance Corporation insured money market savings accounts or time deposits which are deposited through depository institutions which are participants of the Money Market Insured Deposit Account Service ("MMIDAS"). 2. Eligible Investments for Bond Proceeds Bond proceeds shall be invested in securities permitted by the applicable bond documents. If the bond documents are silent as to permitted investments, bond proceeds will be invested in securities permitted by this Policy. With respect to maximum maturities, the Policy authorizes investing bond reserve fund proceeds beyond the five years if prudent in the opinion of the Chief Financial Officer. 3. Ineligible Investments As provided in California Government Code Section 53601.6, the Commission shall not invest any funds in inverse floaters, range notes, mortgage derived interest -only strips or in any security that could result in zero interest accrual if held to maturity. The purchase of any security not listed in Section V1.1 above, but permitted by the California Government Code, is prohibited unless the Board approves the investment either specifically or as a part of an investment program approved by the Board. 1 Revised May 12, 2010May 11, 2011 60 VII. Maximum Maturities Maturities of investments will be selected to provide necessary liquidity, minimize interest rate risk, and maximize earnings. Current and expected yield -curve analysis will be monitored and the portfolio will be invested accordingly. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds. Where this Policy does not specify a maximum remaining maturity at the time of the investment, no investment shall be made in any security, other than a security underlying a repurchase or reverse repurchase agreement authorized by this section, that at the time of the investment has a term remaining to maturity in excess of five years, unless the Board has granted express authority to make that investment either specifically or as a part of an investment program approved by the Board no less than three months prior to the investment. VIII. Performance Standards The Chief Financial Officer shall continually monitor and evaluate the portfolio's performance. A comparison of the portfolio's performance against a performance benchmark shall be included in the Chief Financial Officer's quarterly report. The Chief Financial Officer shall select an appropriate, readily available market index to use as a performance benchmark. IX. Reporting The Chief Financial Officer shall prepare and provide to the Board and the Executive Director, within 30 days following the end of the quarter, a portfolio report, which includes the following information: • Type of investment • Name of issuer • Date of maturity • Date of purchase • Par value • Original purchase cost • Call date (if applicable) • Current market value of securities • Unrealized market value gain/loss • Coupon rate, if applicable Revised May 12, 2010May 11, 2011 • • 61 • • • Yield to maturity • Credit quality, as determined by one or more nationally recognized credit rating services, of each investment • Average duration of portfolio • Listing of all investment transactions during the quarter • A statement that the portfolio complies with the investment policy, or the manner in which the portfolio is not in compliance • A statement denoting the ability of the Commission to meet its liquidity requirements for the next six months, or provide an explanation as to why sufficient money shall, or may not be, available. X. Investment Procedures The Chief Financial Officer, as the Board's designee, is responsible for ensuring compliance with the Commission's investment policies and establishing written procedures and internal controls for the operation of the investment program. No person may engage in investment transactions except as provided under the terms of this Policy and the written procedures established by the Chief Financial Officer. The written procedures should address: delegation - of authority to subordinate staff members, control of collusion, separation of transaction authority from accounting and record keeping, written confirmations of transactions, reconciliation of custody statements, and wire transfer procedures and agreements. An independent analysis by an external auditor shall be conducted annually to review internal control, account activity, and compliance with policies and procedures. XI. Authorized Broker Dealers and Financial Institutions The Chief Financial Officer shall maintain a list of authorized broker/dealers and financial institutions which are approved for investment purposes. It shall be the Commission's policy to purchase securities only from those authorized institutions and firms. Separate lists shall be maintained for broker/dealers and financial institutions approved for repurchase agreements and those approved for the purchase of other securities. If an investment advisor is used, they may use their own list of approved broker/dealers and financial institutions for investment purposes. To be eligible, a firm must meet the following minimum criteria: (i) an institution licensed by the state as a broker -dealer, or from a member of a federally regulated securities exchange, from a national or state -chartered bank, from a federal or state association or from a brokerage firm designated as a primary government dealer by the Federal Reserve bank; and (ii) all broker/dealer firms and individuals must be properly registered with the Revised May 12, 2010May 11, 2011 62 NASD and/or SEC to transact business in the relevant geographic locations and product sectors. In addition, counterparties for Repurchase Agreements shall be limited to primary government securities dealers rated "A" or better by two nationally recognized rating services. Counterpaties shall also have (i) a short-term credit rating of at least A-1 /P-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants. The Chief Financial Officer shall select broker/dealers and other financial institutions on the basis of the firm's expertise and credit worthiness. The Commission shall annually send a copy of the current investment policy to all dealers approved to do business with the Commission. Each broker dealer or financial institution that has been authorized by the Commission shall be required to submit and annually update a Broker/Dealer Questionnaire which includes the firm's most recent financial statements. The Chief Financial Officer shall maintain a file for each firm approved for investment purposes, which includes the most recent Broker/Dealer Questionnaire. XII. Safekeeping and Custody To protect the Commission's assets, all securities owned by the Commission shall be held in safekeeping in the Commission's name by a third party bank trust department, acting as agent for the Commission under the terms of a custody agreement executed by the bank and the Commission. All securities will be received and delivered using standard delivery versus payment (DVP) procedures; the Commission's safekeeping agent will only release payment for a security after the security has been properly delivered. Physical delivery securities shall be avoided whenever possible, as book entry securities are much easier to transfer and account for since actual delivery of a document never takes place. In addition, delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities. XIII. Ethics and Conflicts of Interest The Commission adopts the following policy concerning conflicts of interest: 1. Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program or which could impair their ability to make impartial investment decisions. 1 Revised May 12, 2010May 11, 2011 63 • • • 2. Officers and employees involved in the investment process shall disclose any material financial interest in any financial institution that conducts business with the Commission, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the Commission's portfolio. 3. Officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the Commission. XIV. Investment Policy Review The Chief Financial Officer shall annually render to the Board a statement of investment policy, which the Board must consider at a public meeting. Any changes to the policy shall also be considered by the Board at a public meeting. Revised May 12, 2010May I I, 2011 64 • RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: April 25, 2011 TO: Budget and Implementation Committee FROM: Theresia Trevino, Chief Financial Officer THROUGH: John Standiford, Deputy Executive Director SUBJECT: Agreements to Thompson, Cobb, Bazilio & Associates, P.C., and Macias Gini O'Connell LLP for Audit Services for the Measure A Recipients and Transportation Development Act Claimants STAFF RECOMMENDATION: This item is for the Committee to: 1) Award Agreement No. 1 1-19-063-00 to Thompson, Cobb, Bazilio & Associates, P.C. (TCBA) to perform audit and related services pertaining to the Western County Measure A recipients and Transportation Development Act (TDA) claimants for a three-year term, and two one-year options to extend the agreement, for the amount of $576,400, plus a contingency amount of $57,600 for additional services that may be ,required due to additional recipients or claimants to be audited, for a total amount not to exceed $634,000; 2) Award Agreement No. 11-19-103-00 to Macias Gini & O'Connell (Macias) to perform audit and related services pertaining to the Coachella Valley and Palo Verde Valley (Eastern County) Measure A recipients and TDA claimants for a three-year term, and two one-year options to extend the agreement, for the amount of $443,740, plus a contingency of $44,260 for additional services that may be required due to additional recipients or claimants to be audited, for a total amount not to exceed $488,000; 3) Authorize the Chair, pursuant to legal counsel review, to execute the agreements on behalf of the Commission; and 4) Forward to the Commission for final action. BACKGROUND INFORMATION: In March 2008, the Commission approved the selection of Mayer Hoffman McCann P.C. (MHM) to perform audit services, including agreed -upon procedures, for the Measure A recipients and TDA claimants for an initial three-year term and two Agenda Item 11 65 additional one-year option periods. The initial term of the MHM contract expires with the conclusion of the FY 2009/10 audits, which is anticipated by May 13, 2011. Staff has elected to not exercise the first one-year option periodunderthe MHM contract. Procurement Process Staff determined the weighted factor method of source selection to be the most appropriate for this procurement, as it allows the Commission to identify the most advantageous proposals with price and technical factors considered. Non -price, technical factors include elements such as experience, qualifications, personnel, and a proposer's ability to respond to the requirements set forthunderthe terms of Request for Proposals (RFP) No. 11-19-063-00. RFP No. 11-19-063-00 for the provision of audit services related to the Measure A recipients/TDA claimants in the Western County and Eastern County was issued on March 3, 2011. The deadline for submittal of proposals was March 31, 2011. Staff responded to all questions from potential offerors, and four firms`'(TCBA, Macias, Crowe Horwath, and Caporicci & Larson) submitted responsive proposals prior to the deadline. An evaluation committee was appointed to review the proposals received. The evaluation committee members included various Commission staff ` and a representative from SunLine Transit Agency, one of the Measure A recipients and TDA claimants. Based on the committee's evaluation of the written proposal submittals, and pursuant to the terms of the evaluation criteria included in the RFP, the committee selected TCBA and Macias to provide the services described in the RFP for the Western County and Eastern County, respectively. The committee determined that both firms were qualified to perform the audit and related services and had an appropriate understanding of the scope and requirements related to the Measure A and TDA audit services. Furthermore, the cost proposals for these services in the aggregate were comparable to the fees for the FY 2009/10 services provided by MHM and were among the lowest costs proposed. For the maximum five-year contract period, TCBA's cost for the Western County audits is $576,400 and Macias' cost for the Eastern County audits is $443,740. A 10% contingency is recommended for additional recipients or claimants that may be included in the scope of work. Due to the volume of work to be performed and the number of reports to be issued, the evaluation committee decided to divide the audit services between the two firms in order to ensure the timely completion of the audits and agreed -upon procedures. Staff is negotiating the terms and cost with the firms and expects to bring final contracts to the May Commission meeting. Agenda Item 11 • 66 • Based on the results of the evaluation process for the required audit services, staff recommends approval of these two audit firms for contracts with initial three-year terms and two one-year options to extend the amount. The FY 201 1 /12 budget to be approved at the Commission's June 2011 meeting includes these audit service expenditures. Financial Information In Fiscal Year Budget: N/A N/A Year: FY 2011/12 FY 2012/13+ Amount: $222,000 $900,000 Source of Funds: Measure A, LTF Budget Adjustment: N/A N/A GL/Project Accounting No.: 001001 65401 00000 0002 101 19 65401 Fiscal Procedures Approved: \14,14,440jati Date: 04/18/1 1 Agenda Item 11 67 • • • RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: April 25, 2011 TO: Budget and Implementation Committee FROM: Brian Cunanan, Commuter Assistance Manager THROUGH: Robert Yates, Multimodal Services Director SUBJECT: Update on the Inland Empire 511 System and Amendment to Agreement with Iteris, Inc. for Operations and Maintenance Services for Inland Empire 511 STAFF RECOMMENDATION: This item is for the Committee to: 1) Approve Agreement No. 09-45-067-01, Amendment No. 1 to Agreement 09-45-067-00, with Iteris, Inc. for operations and maintenance services for the Inland Empire 511 (IE51 1) system in an amount not to exceed $1, 503,056; 2) Authorize the Chair, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION: In April 2009, the Commission approved the implementation of the 1E511 traveler information system in partnership with the San Bernardino Associated Governments (SANBAG). Staff at the time presented a white paper that described the functionality of the system including a free to the public telephone service using an interactive voice response (IVR) system, a companion website, and an estimation of the costs to operate the system for the first three years. In response to the Commission's approval, the -system was constructed and officially launched to the public on April 7, 2010. Consistent with the functionality described in the white paper, the 1E511 system provides motorists with access to real-time freeway travel information and incident information on Southern California highways via the telephone service by dialing 511 from any land line or cell phone or accessing the map on the companion website, (www.ie511.org). 1E511 is designed to promote mobility by fostering more informed travel decisions to avoid congestion as well as provide more choices for the individual commuter by identifying all travel options available to Riverside Agenda Item 12 68 and San Bernardino County residents. Inland Empire commuters can access transit, Metrolink, carpooling, vanpooling, carpool lane, and toll road information, as well as detailed park and ride lot information for the entire Southern California region. DISCUSSION In its first year of operation, 1E511 has experienced over 560,000 telephone users and over 230,000 online users. On average, 1E511 averages over 20,000 web visitors and 42,000 phone calls (or 115,000 minutes) during any given month. Traffic information is by far the most requested information; however, the range of information provided by 1E511 is multimodal and includes bus and rail trip planning and ridesharing. These statistics are continuing to trend upwards and validate that Inland Empire constituents and travelers are finding value in the system. These statistics also show that use and demand has greatly exceeded the original projections set forth for the program in the white paper. 70,000 60,000 50,000 40,400 30,000 20,000 10,000 IE511 Monthly Web and Phone Traffic Apr-10 PAa,-10 lun-10 Jul-10 Aue-10 Sep-10 Oct-10 woe-10 Dec-10 la,r11 Feb-11 Mar-1I Web Visits ■ Phone Calls The net result of the popularity of the telephone service is that it has increased the cost of operating the system over that originally estimated. As previously mentioned, accessing the system via the phone is free to any user and, as such, without having ever operated such a system, staff in the white paper looked at comparative systems deployed in other parts of the state and county in order to arrive at an informed estimate of use. The basis for the phone cost projection ultimately included in the white paper was an estimated average of 50,000 minutes per month with an associated cost of $6,050 per month. The actual call volume (minutes) and respective cost per month realized after deployment were double these amounts on average and in many cases, more than triple depending on the weather and traffic conditions. December 2010 is a very good example wherein the rain, snow, and subsequent road closures spiked both telephone calls and website hits on the system over those from the prior month. Agenda Item 12 • 69 • As part of the original 1E511 implementation approval by the Commission, Agreement 09-45-067-00 with Iteris for operations and maintenance services for the traffic map and IVR telephone usage charges was included. This agreement totaled $1,080,000 over a three-year term that included a cost projection of $276,000 in Iteris project management and $72,600 for phone usage for the first year of operation. Unlike project management costs that are fairly level and consistent, the phone component is ultimately dependent on actual call volumes and can fluctuate in response to higher traffic activity or local and regional 511 marketing campaigns. Since commuters are using and finding value in the system as previously indicated, the phone portion of the Iteris contract exceeded year one projections by nearly 650,000 minutes or $66,536 over the phone budget. Left unchecked, this overage in phone usage would require either early termination of the existing operations and maintenance agreement or approval of another funding action by the Commission. 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 Apr-10 M NEXT STEPS 1E511111[onthly Phone Minutes 0 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 1a11-11 Peb-11 Original Projections ■ Acutat Now that the system has been operational for one year, staff has a better understanding of expected call volumes and has adjusted phone projections for the next five years to align more closely to actual use patterns. In addition, staff has been working closely with Iteris to develop a solution to manage the volume of telephone minutes more cost effectively. As previously noted in this report, the telephone system uses IVR technology to provide the traffic information. As such and with traffic being the most popular menu item requested by the public, this technology became a viable candidate for potential cost savings. The existing IVR supplier (Voxeo) was asked to supply a new pricing structure. While Voxeo's rates are competitive with the market as a Agenda Item 12 70 whole, it declined to provide a better rate to the Commission. Therefore, staff worked with Iteris to identify a different IVR platform (Meridian) that could be more cost effectively supplied to the Commission directly by Iteris. In restructuring the IVR from the Voxeo system to the Meridian system, an initial development cost of $125,000 will need to be incurred by the Commission. While adding to the initial development cost, this cost however is projected to be recouped within 18 months of the transition due to the superior rate on the cost per minute per call proposed to be provided by Meridian. Additionally, in requesting a new -five year term for Iteris to operate and maintain the IVR, staff is estimating an additional phone charge cost savings (over and above the recoupment of the development cost) of up to $300,000 by the end of the fifth year as compared to that if no changes were to be made to the system and Voxeo remained as the IVR provider. This analysis as well as the cost estimate over a five-year term also assumes a call growth trend of 2.5% per year that is consistent with current expectations on growth and use patterns. RECOMMENDATION 1E511 has proven to be a valuable tool for Inland Empire residents and constituents for managing their travel and commute efforts. Demand for the system clearly warrants continued provision of the service. As such, staff recommends amending the Iteris agreement to include the IVR transition/enhancements so as to achieve a more efficient cost structure. It will also align the term of the agreement with the Commission's fiscal year and extend the term of the agreement to June 30, 2016, under the new cost structure fora total contract amendment value of $1,503,056 that also includes a 5% contingency to account for system enhancements and for any incremental phone cost fluctuations. The $125,000 for IVR enhancements and operational costs for next fiscal year are included in the FY 2011/12 budget to be presented to the Commission in June 2011 for approval, so no budget adjustment is necessary. This will bring the total Iteris contract amount to $2,583,056 and extend the contract termination date from February 2013 to June 2016. As with all costs associated with 1E511 system operations, SANBAG will reimburse the Commission for half of all the costs associated with the proposed IVR enhancements and transition resulting in the Commission's actual cost for its portion of the project at $1,291,528 over the 90-month contract term. Agenda Item 12 i 71 • Financial Information In Fiscal Year Budget: N/A N/A Year: FY 2011l12 FY 2012/13+ Amount: $516,250 $986,806 Source of Funds: SAFE Funds SANBAG Measure I and CMAQ Budget Adjustment: No GL/Project Accounting No.: 452124-416-41605 202-45-41203 $751,528 ISANBAG reimbursement) 452124-65520/73201 202-45-65520/73002 $751,528 (SANBAG cost) 452131-65520-73201 202-45-65520/73002 $751,528 (RCTC cost) Fiscal Procedures Approved: ,..01, ,,� Date: 04/18/11 Agenda Item 12 72 4/25/2011 _ _ A Inland Empire 511 Update/ Iteris Amendment Brian Cunanan Commuter Assistance Manager, RCTC ..m.sal,.m.g.mi,. Inland Empire 511 511 IE511.org • Launched in partnership with San Bernardino Associated Governments (SANBAG) • Since going live... — 230K website visitors —560K calls • "Traffic" is most popular 1 4/25/2011 1E511 Recognition California Transportation Foundation ..._ .._. - Project of the Year (Finalist) WTS Inland Empire Chapter - 2010 Project of the Year 2 4/25/2011 00,000 70.000 60000 50,000 40,00) 30.000 20.000 10,000 5 ---- Monthly Web and Phone Traffic - , r nr. r Feb-11 Mar-11 r F r Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep10 Oct-10 Nov-10 Dec-10 Jan-11 11 • Web Visits • Phone Calls lE5Itorg 41111 lin"— Phone Minutes Year 1 - 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 I_ ORIGINAL MONTHLY PROJECTIONS = $73K Year 1 Budget 441 ' . , a-----••1 .•-• — • : 1 01 ,Is ..i A 2 , —3 ,-,1 ,-, --•• AI 74, 1'.-. 1 „. =,— tti I." g ,-.'—r-1 • -4—,1----.,' 3 ,:,-.1 L.; ;:eo„' .,:4 ! ., . .f. ,- ,-4— o , 1 ..--r, Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-I0 Oee-10 Jan-11 Feb-11 1 1 5 1E511 org Original Projected Avg. 3 4/25/2011 Phone Minutes Year 1 180,000 160,000 140,000 120,000 100,000 y 80,000 E 60,000 40,000 20,000 Apol0 May-10 lun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Original Projected Avg. ■ Actual Phone Minutes Year 1 Ig0,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 Apr-10 May-10 1un-10 1u1-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 lan-11 Feb-11 *� Original Projected Avg. ■Actual 4 4/25/2011 Phone Minutes Year 1 d 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 ACTUAL MONTHLY AVERAGE = $125K Year 1 Actual ORIGINAL $73K Year Budget MONTHLY PROJECTIONS = 1 ..O :. .� —.a¢ 1r9�— `.wJ �9k i a'-y Y4v. x , •x Apr-10 May-10 lun-10 1ul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 len-11 Feb-11 511 � E5 Lag 1"--- Adjust Minutes, Save Money • Goal: Adjust phone volume based on actuals and save money • Solution: Different IVR platform — Upfront costs of $125,000 — New phone cost structure operational early 2012 • Results: More minutes, lower costs 5 4/25/2011 Adjust Minutes, Save Money 2,000,000 1,900,000 1,800,000 1,700,000 1,600,000 1,500,000 1,400,000 1,300,000 1,200,000 _ Minutes 1,100.000 1,000,000 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 $240,000 $22o,000 $20o,000 $iso,aoo $160,000 $140,000 $120,000 $100,000 116'-- Adjust Minutes, Save Money 2,000,000 1,900,000 1,800,000 1,700,000 1,600,000 1,500,000 1,400,000 1,300,000 1,200,000 _ Minutes 1,100,000 1,000,000 511 /Eoi1.mg FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 voaeo (existing) 6 4/25/2011 Adjust Minutes, Save Money 2,000,000 1,900,000 1,800,000 1,700,000 1,600,000 1,500,000 1,400,000 1,300,000 1,200,000 Minutes 1,100,000 1,000,000 l�lorg FY 2012 FY 2013 Voxeo (exisOng) Meridian FY 2014 FY 2015 FY 2016 $240,000 $220,000 $200,000 $180,000 $160,000 $140,000 $120,000 $100,000 '4111111 �--- Summary of Actions 511: �� IE511.org • Approve $1,503,056 Amendment to Agreement 09-45-067-00, with Iteris, Inc. for operations and maintenance services for the 1E511 system including: — $125,000 IVR transition/ Phone cost structure adjustment — Extend term to June 30, 2016 — 5% contingency — New Total Contract Value: $2,583,056 Note: All 1E511 costs to be split with SANBAG 7 4/25/2011 1E511 Future Enhancements • Additional Detection along 1-10 • Personalized text message alerts • Smartphone application (MSRC grant) 8 • RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: April 25, 2011 TO: Budget and Implementation Committee FROM: Aaron Hake, Government Relations Manager THROUGH: John Standiford, Deputy Executive Director SUBJECT: State and Federal Legislative Update STAFF RECOMMENDATION: This item is for the Committee to: 1) Receive an update on state and federal legislation; 2) Adopt the following bill positions: • AB 427 (Perez) - Monitor • AB 296 (Skinner) - Oppose • SB 693 (Dutton) - Support In Concept • SB 468 (Kehoe) - Oppose • AB 1134 (Bonilla) - Support; and 3) Forward to the Commission for final action. BACKGROUND INFORMATION: Federal Update Several recent showdowns over FY 2011 appropriations have garnered much media attention. The result of every one or two -week continuing resolution has been a further reduction in overall federal spending. At the time this staff report was written, the House was contemplating a final FY 2011 continuing resolution. The U.S. Department of Transportation's funding has taken several hits from these measures. The most significant areas of reductions continue to be the high-speed rail, the discretionary Transportation Investment Generating Economic Recovery (TIGER) program, and planning grants. However, the Federal Transit Administration's (FTA) capital investment grants program known as New Starts and Small Starts faced a significant cut. Perris Valley Line (PVL) is a Small Starts project that received a line item in the President's budget request for FY 2011; however, the project does not have a project construction grant agreement (PCGA) - essentially, a contract with FTA to fully commit the $75 million planned for the project. Until a PCGA is executed, the money in the proposed federal budget for PVL could potentially be subject to cuts by Congress. Commission staff and Agenda Item 13 73 lobbyists are working on this issue to ensure that Perris Valley Line is insulated from the impacts of Congressional spending reductions. However, environmental approval of the project is required before a PCGA can be awarded to Perris Valley Line. The Commission is in the final stages of receiving this approval. On the highway side, rescissions of unspent earmarks continue to be on the table. Again, staff is working diligently to determine which earmarks are in jeopardy and which projects in Riverside County could be affected. State Update With the re-enactment of the fuel tax swap by AB 105, relative stability of core transportation funding has been achieved. However, the prolonged lack of a state budget continues to hamper the state's ability to sell bonds for transportation projects. The spring bond sale has been cancelled and the prospects for a fall bond sale is grim unless a budget is passed that can provide Wall Street sufficient confidence. The Commission has several bond -funded projects, including the SR- 91 high occupancy, vehicle project in downtown Riverside, which will be due for bond allocations in the near term. Not only will upcoming projects be delayed without a bond sale, bond -funded projects around the state that are already under construction may have to be halted at a greater expense to the state. The issue of bonds may soon become the Commission's #1 priority in Sacramento to keep the delivery program on schedule, as well as the jobs that can be created by these projects. Springtime is also the beginning of the process for bills to be heard in various policy committees in the Legislature. At the outset, there are several bills of interest to the Commission as described below: AB 427 (Perez) - Proposition 18 Transit Security Bond Program Recommended Position: Monitor Proposition 1 B, approved by California voters in 2006, contains $1 billion for the Transit System Safety, Security, and Disaster Response Account. This account is used for, "capital projects that provide increased protection against a security and safety threat, and for capital expenditures to increase the capacity of transit operators to develop disaster response transportation systems that can move people, goods, and emergency personnel and equipment in the aftermathof a disaster impairing that movement." Under current law, these funds are distributed over several years by a formula that follows the State Transit Assistance (STA) formula, whereby transportation commissions such as the Commission receive its share based on population and the amount of revenue generated by the Southern California Regional Rail Authority (SCRRA) in each county. These bond funds are overseen by the California Emergency Management Agency (CaIEMA). 74 Agenda Item 13 • • Over the life of Proposition 1 B, the Commission anticipates receiving approximately $17.8 million from this program, with $3.5 million going towards the rail program. The majority of the funds are being invested by the county's bus operators. For rail, the funds are being invested according to the Commission's security assessment plan on Metrolink station security camera upgrades, perimeter fencing, and gates. Some areas of California are not using their transit security bond funds. AB 427 (Perez) creates a mechanism by which unused funds can be awarded through a competitive process to those agencies that can use these funds. Theoretically, this bill could provide an opportunity for the Commission to pursue additional funds for transit security. The bill also makes changes to eligibility and formula calculations with respect to SCRRA. Under current law, commuter rail agencies are prohibited from taking funds from more than one of the sub -accounts in this program. AB 427 would lift this prohibition, potentially providing for Metrolink to receive a greater 'share of funding that would .otherwise come directly to the Commission. Staff and representatives of the Commission are working closely with Speaker John Perez's staff and Metrolink to understand the intent and consequences of the bill's language relating to commuter rail's formula share. As the bill continues to take shape, staff recommends a Monitor position. Further updates will be provided as the bill moves through the committee process in Sacramento.` AB 296 (Skinner) — Coo/ Pavements Mandate Recommended Position: Oppose This bill requires the California Department of Transportation (Caltrans) to implement a cool pavement pilot project, develop a handbook and regulations on cool pavements, and by 2018 imposes a mandate that all state -funded transportation projects have 75% of their surface area covered by cool pavements. Exceptions are made for roads that are substantially shaded by trees, tall buildings, or are in rural areas. The author of the bill seeks to reduce the impacts of heat absorbing pavements, which increase temperatures in metropolitan cities. This phenomenon is referred to as urban heat island effect (HIE). The author claims that HIE contributes to higher peak energy demand, air pollution, and greenhouse gases due to higher urban temperatures, which require more air conditioning during a longer duration of time during the day. Agenda Item 13 75 Generally, pavements that are darker (like asphalt) tend to absorb more heat, while pavements that are lighter (like concrete) absorb less. Cool pavements can include using more concrete instead of asphalt or by placing lighter colored rock on dark colored asphalt surfaces to reflect the sunlight. Trees are also used to reduce pavement heat absorption.. Staff has learned that Caltrans has spent many years developing a cool pavements program and is participating in ongoing research and development efforts. Staff believes this mandate is unrealistic and could drive up costs of transportation projects in California. At this time, the state's highway maintenance needs are woefully underfunded; further burdening the program with expensive mandates would only provide further setbacks to efforts to bring the state highway system into a state of good repair. Furthermore, the bill legislates what is a developing science in the transportation industry. Staff believes research should continue, but requiring that all state funded projects utilize cool pavements is overreaching and could have negative impacts on project costs during a time of dwindling state revenues. . AB 296 is supported by the Union of Concerned Scientists, Californians Against Waste, and the California Nevada Cement Association. The bill is currently opposed by Associated General Contractors of California, Southern - California Contractors Association, Asphalt Association of , California. Staff anticipates that many transportation agencies throughout California will come out in ,strong opposition to this legislation. SB 693 (Dutton): Public -Private Partnership Agreements Recommended Position: Support in Concept This bill would allow Caltrans to delegate its authority to enter into public -private partnership (P3) agreements to cities and counties. Current law allows Caltrans to delegate P3 authority to regional transportation commissions and allows regional transportation commissions to solicit P3 proposals from private industry. However, this authority does not extend to cities and counties. Yet, an existing provision in the law (not addressed by this bill) states that Caltrans must be the responsible agency for P3 projects on the state highway system. Thus, based on an interpretation of this statute, even if cities and counties had P3 authority these P3 projects could probably not take place on state highways. City and county P3 projects would be new off -system projects. Agenda Item 13 • 76 • The Commission's adopted platform supports expansion of P3 authority in California. Thus, staff recommends adopting a supportive position on this bill. Further, staff believes that this bill should also expand the authority of cities, counties, and regional transportation agencies to implement P3's on the state highway system, where there is the most potential for achieving congestion relief via alternative financing. SB 468 (Kehoe): Capacity -Increasing Highway Projects in Coastal Zones Recommended Position: Oppose This bill would prohibit capacity -increasing highway projects from proceeding to construction prior to public transit projects being built in the same corridor. The bill also makes highway projects within coastal zones subject to California Coastal Commission review. Language in the bill references the state's existing greenhouse gas reduction laws as an impetus for this proposed policy, arguing that in environmentally sensitive areas such as coastal zones, priority should be placed on public transit to reduce vehicle miles traveled and environmental impacts. Although the Commission has no coastal zones in its territory, staff is concerned with legislating a preference for one mode of transportation project over another, let alone policy that explicitly prohibits a project from construction until another project moves forward. This policy approach does not reflect the realities of regional transportation plans, voter -approved sales tax measures, or local and regional congestion management needs determined by local elected officials. Furthermore, the Legislature's recent attempts to zero -out STA funding and the lack of funds available to adequately expand transit contradicts the policy in SB 468. Additional bureaucratic review by the California Coastal Commission on top of the rigorous requirements of the California Environmental Quality Act (CEQA) is also concerning. SB 468 is aimed at one project in San Diego County on Interstate 5, which is opposed by Senator Christine Kehoe for reasons specific to that project. Staff is concerned that project specific issues in one area of the state will have far-reaching consequences on many other transportation projects, while setting a precedent for the Legislature intervening in project selection processes that are otherwise made by regional and local agencies that provide the lion's share of funding. San Diego Association of Governments (SANDAL), Orange County Transportation Authority (OCTA), and Ventura County Transportation Commission (VCTC) are opposed to this bill. Agenda Item 13 77 AB 1134 (Bonilla): Project Study Reports Recommended Position: Support This bill would amend Caltrans protocols for conducting project study reports (PSR) for transportation projects on the state highway system. In summary, the major provisions of this bill would require that Caltrans perform PSRs at its own expense for state highway projects that are included in voter -approved self-help sales tax expenditure plans. For state highway projects that are not in such expenditure plans but are still locally funded, local agencies can request Caltrans to perform a PSR; however if Caltrans resources are not available to perform the PSR, the local agency could perform its own PSR at its own expense. The bill would further require Caltrans and local agencies requesting PSRs to be in continuous communication. A PSR is one of the first phases of a transportation project. A PSR describes the potential project, assesses the cost and schedule, and helps agencies make an informed decision about making financial commitments to the project. PSRs for projects on the state highway system are typically performed by Caltrans. Local entities such as cities, counties, and transportation commissions,, can request that Caltrans perform PSRs on its behalf, subject to availability of Caltrans resources. Local entities can also perform the PSRs with Caltrans review. The bill is sponsored by the Self -Help Counties Coalition, of which the Commission is a member. Agenda Item 13 • • 78