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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Todd Mills, Director of Procurement |
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TITLE:
title
Quarterly Disbursement Report - 2024 Vehicle Parts Inventory Spend - Q1 2024
end
AGENDA ITEM TYPE:
Report
RECOMMENDATION:
Review the Inventory Supplier Spend information for Q1, 2024.
BACKGROUND:
R2024-02-01 was approved by the Board of Trustees on February 14, 2024 granting the purchasing authority and related disbursements to vehicle parts inventory vendors in 2024 up to the amounts below:
• Bus parts - up to $7,000,000
• Light Rail Vehicle parts - up to $10,000,000
• Commuter Rail Vehicle parts - up to $5,000,000
The resolution also stated that at the end of every quarter the Director of Supply Chain will provide a report of actual purchase totals for each vendor to the Board of Trustees, and will review and compare actual Purchase Order amounts with the amounts listed in the resolution. Any Transit mode parts Purchase Order amounts that will likely exceed the forecasted amount will be brought back to the Board of Trustees for further review and approval.
DISCUSSION:
Attached are the supplier spend totals by mode. Additionally, the top 10 vendors spend for each transit mode are individually identified.
Quarter 1, 2024 expenditure compared to the authorized amount in R2024-02-01 was:
• Bus Parts - $2,104,806 expenditure YTD compared to $7,000,000 annual authorization
• Light Rail Vehicle Parts - $1,834,866 expenditure YTD compared to $10,000,000 annual authorization
• Commuter Rail Vehicle Parts - $746,909 expenditure YTD compared to $5,000,000 annual authorization
• All Parts Total Spend - $4,686,581 expenditure YTD compared to $22,000,000
ALTERNATIVES:
N/A
FISCAL IMPACT:
Each maintenance division is provided with an annual parts inventory budget as part of their Operating Expense Budget.
ATTACHMENTS:
Parts Inventory Spend - Q1 2024