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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
William Greene, Chief Financial Officer |
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PRESENTER(S): |
William Greene, Chief Financial Officer |
TITLE:
title
TBA2022-07-03 - Technical Budget Adjustment - August 2022 Service Change
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Approve the request for a Technical Budget Adjustment moving budget authority from contingency to operating budget line items to support the August 2022 Service Changes.
BACKGROUND:
The 2022 Adopted Budget included contingencies for service changes contemplated in 2022. Elements of the proposed 2022 service changes in the adopted budget were included in contingency line items pending a review of actual operating experience prior to finalizing the August 2022 service change package.
Most notably, these service changes budgeted as contingency line items included:
• UVX 6-minute headways (budgeted in the Operating Contingency)
• Salt Lake County and Salt Lake City service additions (budgeted in the Operating Contingency)
• On Demand - Micro Transit service (budgeted in the Planning and Engagement Contingency)
DISCUSSION:
Service Planning and Engagement and Operations reviewed 2022 operating experience to date and applied the Service Guidelines to arrive on a series of changes that will be implemented on August 7, 2022.
These changes were presented in detail to the Board on June 6, 2022 and are scheduled for implementation on August 7 2022.
Service changes on UVX, Salt Lake County, and Salt Lake City routes were included in the adopted service change. These items were included in the Operating Contingency in the Adopted 2022 Operating Budget.
On demand service changes proposed in the August service changes will also require movement from contingency to the contract services line items (this is where On-Demand resides) in the Planning and Engagement budget.
ALTERNATIVES:
Fund from existing budgets. This is possible, but there is some uncertainty around the base budget due to inflationary pressures.
FISCAL IMPACT:
Move $1,337,000 from Operating contingency to the appropriate bus line items. Move $300,000 from the Planning and Engagement contingency to the appropriate contract line items.
ATTACHMENTS:
Exhibit A - Technical Budget Adjustment