Three Year Budget
Changes since the Board reviewed the draft budget on February 27, 2019 are:
Operating Budget February Draft May Final Difference
Revenue & Expenditures $3,456,898 $3,470,140 + $13,242
Revenues changed due to:
1. SRTS - Every Child - new ATP grant increased operating revenues by $45,212.
2. Reserve usage decreased by $31,970.
Expenditures changed due to:
Change in salary and benefits for two administrative positions, added $13,242.
Direct Programs February Draft May Final Difference
Revenue & Expenditures $19,021,309 $20,417,987 + $1,396,678
Revenue/Expenditure changes due to:
1. FORTAG Environmental Phase - shifted some work from current year into 2019/20, added $650,000.
2. SRTS - Every Child - consultant expenses for new ATP grant, plus Measure X match, added $621,678.
3. FORA property development costs, funded out of rail lease revenues, added $50,000.
4. Federal legislative expenditures, in case earmarks return, funded out of Undesignated Reserves, added $75,000.
Benefit and salary changes are set forth in the resolution, as well as authority for out of state travel trips. Title changes for the Senior Administration Assistant to Clerk of the Board/ Senior Administration Assistant and Accounting Clerk to Accounting Assistant (currently a part-time position) are recommended to better align with the duties and responsibilities of these 2 positions. In addition, a recent salary survey of partner agencies indicates that the adjustments are appropriate to bring both positions up to the current market level. As such, a salary range adjustment, in the amount of 10%, for both positions has been added since the February draft budget to be effective July 1, 2019. The individuals in these positions continue to be high performers.
Details of the operating and direct budgets are attached.
Annual Work Program:
The final overall work program adds the "Every Child" Active Transportation Program grant received to expand Safe Route to School outreach efforts and otherwise contains only minor changes made in response to comments by Caltrans. These edits effectively have very little effect on the 2019/20 work program that the Executive Committee and Board reviewed in February. Highlights of the Overall Work Program organized by the Board-adopted TAMC goals and a summary of the Overall Work Program by work element are attached.
The resolution recommended for TAMC Board adoption of the FY2019/20 budget and overall work program is attached.