08 FY2022 GO Annual Report Draft

FY2022 GO Annual Report
CTOC – January 5th, 2022

Proposition 402
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Comprehensive Transportation program to:
• Improve traffic flow
• Relieve traffic congestion
• Increase transportation choices
• Reduce air pollution
• Promote economic vitality
• Provide for regional transit connections

Proposition 402 - Projects
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•Intersection improvements
•Street projects
•Expansion of existing bus services
•Increased Dial-a-Ride service
•Express bus service
•Pedestrian and bicycle improvements
•Airport projects
•Safety improvements

Proposition 402 – Project Maps
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1
2

Proposition 402 – Project Maps
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3
4

Role of CTOC
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•Monitor fund expenditure
•Monitor project implementation
•Timely and cost-effective manner
•Recommend adjustments to projects

Financial Summary
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Table 1: GO Program Account Summary, FY 2021-2022
Balance Forward (July 1, 2021)                                                                $71,037,843
Revenue                                                                                                       $49,135,379
Expense                                                                                                     ($30,321,289)
Balance Ending (June 30, 2022)                                                                 $89,851,933
Note: Based on unaudited accounts to June 30, 2022
Source: City of Glendale, December 13, 2022

Revenues
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Table 2: GO Program Revenue Summary, FY 2021-2022
Source
Amount
Percentage
Sales Tax
$42,653,973
86.81%
Interest
$390,735
0.80%
Grant
$844,149
1.72%
Disposal of Asset
$6,560
0.01%
Fare Box
$86,832
0.18%
Development Agreement In 
Lieu of Fees
$4,657,942
9.48%
Miscellaneous
$495,189
1.01%
Total
$49,135,379
100.00%
Note: Based on unaudited accounts to June 30, 2022
Source: City of Glendale, December 13, 2021

Expenditures
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Table 3: GO Program Cash Expense Summary, FY 2020-2021
Source
Amount
Percentage
Professional & Contractual
$3,876,295
12.78%
Wages, Benefits, & Staff Administrative Cost
$5,324,132
17.56%
Advertising
$5,692
0.02%
Equipment, Supplies, & Maintenance
$894,560
2.95%
Insurance
$556,379
1.83%
Miscellaneous
$225
0.00%
Pavement Management (surface preparation, repairs & 
overlays)
$9,909,209
32.68%
Budget Out
$9,754,798
32.17%
Total
$30,321,289
100.00%
Note: Based on unaudited accounts to June 30, 2022
Source: City of Glendale, December 13, 2022

Bonding
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Table 4: Status of GO Program Bond Funds
Source
Amount
Bond Issue
$109,110,000.00
Bond Premium
$1,953,498.95
Issuance Cost
($1,058,583.90)
Bond Funds Expended
($110,004,915.05)
Bond Funds Remaining
$0.00
Note: Based on unaudited accounts to June 30, 2022
Source: City of Glendale, November 4, 2022

Bonding
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Table 5: Status of Transportation Bond Issuances
Source
Bond Series 
2007
Bond Series 
2015
Bond Series 
2017
Total
Original Bond Issue
$109,110,000.00
$55,635,000
$19,330,000
$184,075,000
Principal Payments Made 
Through 7-1-2022
($31,275,000)
($8,290,000)
($12,130,000)
($51,695,000)
Bond Refunding, 2-25-
2015
($59,110,000)
-
-
($59,110,000)
Bond Refunding, 6-22-
2017
($18,725,000)
-
-
($18,725,000)
Balance as of 6-30-2022
-
$47,345,000
$7,200,000
$54,545,000
Note: Based on unaudited accounts to June 30, 2022
Source: City of Glendale, November 4, 2022

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INSERT NEW MAP
Project & Programs Using Sales Tax Funds in FY2022

Questions?
Action Item
Recommend approval of the FY 2022 Annual Report of 
the GO Transportation Program.
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