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10-Year Transportation Program Draft July 6, 2023 2 Overview • Financial Forecast • FY2024 Transportation Budget –Operating Budget –Capital Improvement Program • 10-Year Transportation Program Summary 3 FY 2024 FINANCIAL FORECAST FY23 FY24 Revised Est % change City Sales Tax 43,943,026 $ 44,212,150 $ 0.6% Transit Revenue 92,484 $ 92,484 $ 0.0% Interest 291,270 $ 276,707 $ -5.0% Other Revenue 548,057 $ 548,057 $ 0.0% Miscellaneous 954,096 $ 954,096 $ 0.0% Veterans Community Project - $ 3,844,763 $ n/a 45,828,934 $ 49,928,257 $ 8.9% 4 • Financial Factors FY 2024 FINANCIAL FORECAST Categories YR 1 * YR 2-10 Av. Salaries 8.7% 5% Overtime 8.7% 5% Temp Pay 8.7% 5% Benefits 8.7% 5% Retirement 8.7% 5% Supplies and Contracts 10.0% 5% City of Phoenix Fixed Route Contract 9.0% 9% Valley Metro Regional ADA Agreement 9.0% 9% Utilities 10.0% 5% Vehicle Maintenance & Fuel 10.0% 5% Work Order Credits 2.0% 2% Risk Mgt., Workers' Comp. 10.0% 5% Technology Projects 10.0% 5% Technology Premiums 8.7% 5% Transit, $11.16, 44% Transp. Systems Mngmt, $1.33, 5% Right of Way, $1.06, 4% Streets, $.97, 4% Other, $3.34, 13% Indirect Charges, $.64, 3% Debt Service, $6.70, 27% 5 FY 2024 OPERATING BUDGET TOTAL: $25.19 Including Debt Service & Indirect Charges (In Millions of Dollars) Transit, $172.22, 52% TSM, $15.91, 5% Right of Way, $13.06, 4% Streets, $23.89, 7% Other, $107.21, 32% 6 10-YR OPERATING BUDGET TOTAL: $332.29 Other includes indirect charges and debt service 7 FY 2024 CAPITAL BUDGET Aviation, $.55, 2% Streets & Highway, $19.64, 82% Bicyle & Pedestrian, $.89, 4% Transp. Systems Mngmt, $.85, 4% Transit, $.54, 2% Other, $1.35, 6% TOTAL: $23.82 (In Millions of Dollars) 8 FY2024-33 CAPTIAL PROGRAM FUND FY24 FY25 FY26 FY27 FY28 FY29-33 Total: 4030 Sales Tax: $10.35 $5.56 $6.79 $5.26 $3.48 $17.69 $49.15 2070 Sales Tax Op (Pavement Management) $13.47 $14.21 $14.91 $15.64 $16.41 $94.97 $169.62 Total: $23.82 $19.77 $21.70 $20.90 $19.89 $112.66 $218.77 (In Millions of Dollars) Operating, $17.86, 36% Capital, $23.82, 49% Debt Service, $6.70, 14% Indirect Charges, $.64, 1% 9 FY 2024 OVERALL BUDGET TOTAL: $49.02 (In Millions of Dollars) 10 10-YR TRANSPORTATION PROGRAM Operating, $263.08, 48% Capital, $218.78, 40% Debt Service, $60.81, 11% Indirect Charges, $8.39, 1% TOTAL: $551.06 (In Millions of Dollars) 11 PROGRAM REVENUE VS EXPENSE REVENUE FORECAST: $559 M EXPENSE: $551 M REMAINING BALANCE: $8 M FUND BALANCE POLICY: $4.8 M AFTER 10% FB POLICY: $3 M $559M $551M $0M $100M $200M $300M $400M $500M $600M Revenue Forecast Expense 12 10-YEAR PROGRAM OUTLOOK $- $10 $20 $30 $40 $50 $60 $70 $80 $90 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 Millions Revenue Forecast Fund Balance Expenses 10% Fund Balance Policy 13 Questions