FY 2012 Capital Budget and FY 2012-2023 Capital Program - Septa

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` FUNDING OUTLOOK AND SHORTFALL Fiscal Year 2012 Funding Plan Total Fiscal Year 2012 funding for capital projects has been programmed at $311.5 million. Projects programmed within this level of capital funding are those for which SEPTA has financial obligations to pay, have contracts currently awarded, are federally mandated/safety-related, or are essential vehicle and infrastructure replacement and rehabilitation programs. The projected funding level consists of the following components: 1) Estimated federal formula program totaling $155.5 million. 2) Federal Highway Flexible funding projection of $19.2 million based on an anticipated SEPTA share of regional flexible funds and additional Federal Highway Flex funds committed by the Commonwealth. 3) U.S. Department of Homeland Security funding of $5 million based on an anticipated SEPTA share of regional funds. 4) State funds from the Public Transportation Trust Fund have been programmed at $120.2 million. 5) $11.6 million from the City and Counties is programmed as local match on the Federal and State funding. Fiscal Years 2013-2015 Funding Plan Federal formula funds for Fiscal Year 2013-2015 are programmed at the Fiscal Year 2010 level of $155.5 million. No increase is assumed. Federal Highway flexible funding is programmed at $19.4 million per year. This level reflects the anticipated SEPTA share of available regional flexible funds and $17.1 million as committed by the Commonwealth as part of the April 17, 1997 Supplemental State Public Transportation Assistance Act. New Starts/Service Initiatives funding is programmed at a total of $175 million for Fiscal Years 2013 through 2015. U.S. Department of Homeland Security funding is programmed at $5 million a year, based on an anticipated SEPTA share of regional funds. State funding from the Act 44 Public Transportation Trust Fund is programmed at $123.1 million each year for Fiscal Years 2013 through 2015. 26
` FUNDING OUTLOOK AND SHORTFALL Fiscal Years 2016-2023 – SEPTA’s Unfunded Capital Needs The Federal Transit Administration issued a report entitled, National State of Good Repair Assessment, as follow up to its 2009 “Rail Modernization Study.” These reports affirm the financial constraints on the nation’s public transportation systems, and the “old rail cities” in particular. Taken together, both reports emphasize the magnitude of the state of good repair (SGR) backlog - $77.7 billion for all transit assets nationwide and $50 billion for rail assets in the nation’s seven “old rail” agencies (CTA–Chicago, MBTA–Boston, MTA–New York, NJ Transit, BART–San Francisco, SEPTA, and WMATA–Washington, DC). The Rail Modernization Study included the following findings: • The seven agencies studied (CTA–Chicago, MBTA–Boston, MTA–New York, NJ Transit, BART–San Francisco, SEPTA, and WMATA–Washington, DC) account for 80% of rail riders, 50% of track miles and 75% of rail rolling stock. • 35% of agency assets are in “poor” or “marginal” condition (the end of their useful life). By comparison, less than 20% of national transit assets (excluding the seven study agencies) are rated marginal or poor. • Since the Intermodal Surface Transportation Efficiency Act (ISTEA), federal SGR funds have grown from $23.6 to $35.6 billion. However, increases in eligible entities and project-types have reduced the “old rail cities’” share – leaving them with only 23% of SGR-eligible federal funds since 1991. • The FTA estimates $50 billion (all funding sources) is needed to address the backlog and bring the seven agencies to a state of good repair. Distributed among: Heavy Rail / $37.1B, Commuter Rail / $9.1B, Bus / $2.8B, Light Rail / $0.6B, System-wide / $0.4B. SEPTA has continued to confront the challenges of maintaining its infrastructure in a state of good repair. New funding constraints have exacerbated the backlog of capital needs described in the FTA’s report, which have grown amid broader concerns of maintaining operating efficiency, achieving ridership growth and improving customer service. This report cites SEPTA’s share of this backlog being in excess of $4 billion. The programming amounts and projects listed in the outer years of SEPTA’s Capital Program represent what is required to address the current unfunded backlog of SEPTA’s capital needs. 27
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Page 6 and 7: TABLE OF CONTENTS (Cont’d) VIII.
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Page 34 and 35: TRANSIT PLANNING EFFORTS This secti
Page 36 and 37: TRANSIT PLANNING EFFORTS Expansion
Page 38 and 39: TRANSIT PLANNING EFFORTS • Thornd
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Page 46 and 47: CAPITAL ASSET LEASE PROGRAM The Cap
Page 48 and 49: DEBT SERVICE State and federal capi
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FY 2012 Capital Budget and FY 2012-2023 Capital Program - Septa

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