FY 2012 Operating Budget and FY 2013-2017 Financial ... - Septa

More documents

Recommendations

Info

FINANCIAL PLANNING POLICIES Financial and Budgetary Policies Balanced Budget The Board of the Southeastern Pennsylvania Authority adopts a balanced budget before the start of each fiscal year in accordance with the enabling legislation of the Commonwealth of Pennsylvania. A balanced budget is one in which expected operating revenues and subsidies equal expected operating expenses. When a deviation from a balanced budget is foreseen or occurs, this is reported as an operating surplus or deficit. Fiscal Year The Southeastern Pennsylvania Transportation Authority’s budget is prepared on a fiscal year basis, beginning July 1 and ending June 30, which is consistent with the financial statements. Basis of Financial Reporting and Budgeting The Authority's annual financial statements are prepared using the economic resources measurement focus and the accrual basis in conformity with Generally Accepted Accounting Principles (GAAP) as applied to government units. Revenues are recognized in the period in which they are earned and expenses are recognized in the period in which they are incurred. The Authority distinguishes operating revenues and expenses from non-operating items in the preparation of its financial statements. Operating revenues and expenses generally result from the Authority's principal operation of providing passenger service. The principal operating revenues are passenger fares and the principal operating expenses are related to the delivery of passenger transportation. The budget is prepared on a similar basis as the annual financial statements, with the following exceptions: • The budget includes depreciation net of amortization of contributed capital, while the annual financial statements report gross depreciation. Amortization of contributed capital has been replaced in the annual financial statements by capital grants earned. • The budget includes a resultant Surplus or Deficit, while the annual financial statement report treats this as a Change in Net Assets. • The budget includes Shared Ride subsidies and investment income in operating revenue, while the annual financial statements treat these items, and all other subsidies, as non-operating. Additionally, interest expense is treated as nonoperating in the annual financial statements. • The net actuarially determined post-employment benefit obligation recognized under Government Accounting Standards Board (GASB) Statement No. 45, which was implemented by the Authority in Fiscal Year 2008, has been excluded from the budget expenses. Such costs are included in operating expenses in the annual financial statements. SEPTA Fiscal Year 2012 Operating Budget 11
Financial and Budgetary Policies Long Range Planning SEPTA continually assesses the consequences of national, state and local demographic, economic, travel and development trends for SEPTA’s current and future operations, services and capital projects. This assessment includes the evaluation of current and potential service levels in accordance with SEPTA’s Annual Service Plan and the City Transit, Suburban Transit and Regional Rail Service Standards and Processes. This assessment forms the backdrop for SEPTA’s long range planning and the basis for the fiveyear financial projections which are included in the adopted budget for each fiscal year. Asset Management SEPTA has established an internal control structure to ensure that assets are protected from loss, theft or misuse, and to ensure that adequate accounting data are compiled for the preparation of financial statements in conformity with generally accepted accounting principles. The Procurement and Supply Chain Management Department of the Business Services Division handles the purchase, lease, sale, and disposal of parts, equipment, supplies, repairs, and services utilized by the organization. This includes the coordination and enforcement of federal, state and local funding agency regulations for all approved capital expenditures. The principal areas of responsibility include compliance and support services, contract administration, purchasing, resource control and production control. The specific function of this group is further defined in the departmental section of this budget document. REVENUE POLICIES Revenue Diversification The Authority continues to explore areas for revenue diversification and enhancement to supplement passenger revenue and subsidies. Such enhancements shall include, but not be limited to, developing new business and community partnerships, expanding the advertising program, selling naming rights of transit stations, identifying opportunities to serve new markets and pursuing parking initiatives to increase ridership and parking revenue. Fees and Charges The Authority’s fare structure has been implemented in accordance with legislation established by the legislature of the Commonwealth of Pennsylvania and applicable federal legislation. Changes to SEPTA’s fare structure are subject to the guidelines established by this legislation, including a public hearing process. One-time Revenues The Authority has adopted a policy whereby it does not rely on one-time revenues of any sort to finance ongoing operations. Unpredictable Revenues There are no major revenue sources that the Authority believes to be unpredictable in nature. The Authority has adopted a policy whereby it does not rely on unpredictable revenues of any sort to finance ongoing operations. SEPTA Fiscal Year 2012 Operating Budget 12
Page 2 and 3: The Government Finance Officers Ass
Page 4 and 5: SEPTA Fiscal Year 2012 Operating Bu
Page 8 and 9: Southeastern Pennsylvania Transport
Page 10 and 11: Introduction and SEPTA Profile SEPT
Page 12 and 13: Introduction and SEPTA Profile Popu
Page 18 and 19: Summary of Assumptions This documen
Page 22 and 23: EXPENDITURE POLICIES Financial and
Page 24 and 25: Financial and Budgetary Policies Ca
Page 26 and 27: Financial and Budgetary Policies Fu
Page 28 and 29: Annual Budget Process Fiscal Year 2
Page 30 and 31: Organizational Structure The Pennsy
Page 32 and 33: Operating and Staff Departments FIN
Page 34 and 35: Fiscal Years 2010 and 2011 Actual a
Page 40 and 41: Financial Projections With the pass
Page 42 and 43: Operating Revenue SEPTA receives re
Page 44 and 45: Operating Revenue $10 Investmentt I
Page 46 and 47: Subsidy Introduction Total subsidie
Page 48 and 49: Subsidy In addition, the operating
Page 50 and 51: Fiscal Year 2012 Operating Budget C
Page 52 and 53: Local Subsidies City Regional Total
Page 54 and 55: Expense Assumptions LABOR & BENEFIT
Page 56 and 57: Expense Assumptions SEPTA Fiscal Ye
Page 60 and 61: Allocation By Division - Fiscal Yea
Page 62 and 63: Detail of Expenses - Fiscal Year 20
Page 64 and 65: Headcount Authorization Cause of Ch
Page 66 and 67: Fiscal Year 2012 Headcount Authoriz
Page 68 and 69: Corporate Staff SEPTA Fiscal Year 2
Page 70 and 71:
Corporate Staff HEADCOUNT OPERATING
Page 72 and 73:
Corporate Staff Improve Customer an
Page 74 and 75:
Operations Overview The Operations
Page 76 and 77:
Operations HEADCOUNT OPERATING HEAD
Page 78 and 79:
Operations SURFACE TRANSPORTATION P
Page 80 and 81:
Operations LABOR RELATIONS Principa
Page 82 and 83:
Operations Automotive Vehicle Maint
Page 84 and 85:
Operations ‣ Achieve and maintain
Page 86 and 87:
Audit and Investigative Services Ov
Page 88 and 89:
Audit and Investigative Services EX
Page 90 and 91:
Business Services Division SEPTA Fi
Page 92 and 93:
Business Services Information Techn
Page 94 and 95:
Business Services EXPENSES Amounts
Page 96 and 97:
Business Services DIVISIONAL GOALS
Page 98 and 99:
Customer Service and Advocacy Overv
Page 100 and 101:
Customer Service and Advocacy HEADC
Page 102 and 103:
Customer Service and Advocacy Graph
Page 104 and 105:
Engineering, Maintenance and Constr
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Finance and Planning Division SEPTA
Page 114 and 115:
Finance and Planning Accounting Cap
Page 116 and 117:
Finance and Planning EXPENSES Amoun
Page 118 and 119:
REVENUE, RIDERSHIP AND SALES Financ
Page 120 and 121:
Finance and Planning DIVISIONAL GOA
Page 122 and 123:
Human Resources Overview Human Reso
Page 124 and 125:
Human Resources HEADCOUNT OPERATING
Page 126 and 127:
Human Resources Project Management
Page 128 and 129:
Legal Division SEPTA Fiscal Year 20
Page 130 and 131:
Legal HEADCOUNT OPERATING HEADS A B
Page 132 and 133:
Legal DIVISONAL GOALS AND BUSINESS
Page 134 and 135:
Public and Government Affairs Overv
Page 136 and 137:
Public and Government Affairs HEADC
Page 138 and 139:
Public and Government Affairs Feder
Page 140 and 141:
Public and Operational Safety Divis
Page 142 and 143:
Public and Operatio nal Safety Clai
Page 144 and 145:
Public and Operational Safety EXPEN
Page 146 and 147:
Public and Operational Safety DIVIS
Page 148 and 149:
Fringe Benefits Fringe benefits are
Page 150 and 151:
Non-Departmental Expense Amtrak ADA
Page 152 and 153:
Job Access and Reverse Commute Prog
Page 154 and 155:
Operating Goals and Performance Eva
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Improving Our System Capital Improv
Page 166 and 167:
Capital Improvement Program Capital
Page 168 and 169:
Capital Improvement Program Infrast
Page 170 and 171:
Capital Improvement Program Paratra
Page 172 and 173:
Capital Improvement Program System
Page 174 and 175:
Glossary of Acronyms A ADA - The Am
Page 176 and 177:
Glossary of Acronyms P PCC Car - Pr
Page 178 and 179:
Glossary Americans with Disabilitie
Page 180 and 181:
Glossary E Enterprise Funds - Funds
Page 182 and 183:
Glossary L Leases and Rentals - The
Page 184:
Glossary currently consists of thre
show all

FY 2012 Operating Budget and FY 2013-2017 Financial ... - Septa

Create successful ePaper yourself

Delete template?

Save as template?