Comprehensive Annual Financial Report - Metro Transit

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Statistical DataThree Year Trend ComparisonData as of June 30,Data Measurement 2009 2010 2011Budgeted PersonnelTotal employees 2,189 1,926 2,097Collective bargaining agreement employees % 77% 76% 77%Metro Transportation SystemService area square miles 449 579 558 *Metro BusFleet size – total vehicles 449 412 432Passenger trips 32,679,788 24,256,126 26,215,139Revenue miles 16,938,053 16,082,275 18,198,927Farebox recovery 22.3% 20.7% 19.9%Metro LinkFleet size – total vehicles 87 87 87Passenger trips 19,423,931 15,828,981 16,209,098Revenue miles 3,398,923 2,913,199 3,147,407Farebox recovery 28.5% 30.4% 27.8Demand responseFleet size – total vehicles 129 147 144Passenger trips 665,137 545,606 568,419Revenue miles 4,903,975 4,616,903 4,626,716Farebox recovery 4.8% 4.2% 4.7%Business EnterprisesGateway Arch tram rides 861,522 840,296 842,066Gateway Parking vehicle transactions 258,567 272,258 271,589Riverfront Attractions passengers 95,834 105,887 76,230St. Louis Downtown Airport aircraft movements 116,316 116,267 93,443St. Louis Downtown Airport based aircraft 300 297 305Source: Annual Performance Indicators*Service area decreased despite increased service due to the cancellation of bus runs to JeffersonCounty and Gray Summit.Factors Affecting Financial Condition Local EconomyThe information presented in the financial statements is perhaps best understood when it isconsidered from the broader perspective of the economic environment in which Metro operates.Metro is funded by a combination of regional sales taxes, service contracts, passenger fares, federalfunds, advertising, investment and auxiliary revenues. Business Enterprises primarily generatesoperating revenues through business segment operations.St. Louis is a diverse economic environment, but it is not immune from broader economic trends.Major employers in the region include healthcare, supermarkets, and universities and they haveremained stable. St. Louis is the world headquarters for 21 Fortune 1000 companies includingviii
Emerson Electric, Express Scripts and Monsanto. (See page 99 in the statistical section for St. Louismetro area major employers.)The St. Louis region is located near the geographic and population center of the nation and hasaccess to four modes of transportation; air, rail, road, and water. We have four interstate highwaysand four interstate highway linkages. Lambert International Airport, a dozen regional airports andMetroLink provide options for local commuting. St. Louis is one of the nation’s largest rail centers andis home to six Class I railroads and several smaller industrial lines, along with Amtrak service. St.Louis, the second largest inland port, offers more than 100 docks and terminal facilities servingapproximately 2,500 barges annually.The annual average 2010 unemployment rate of 10.0 percent fell to 9.0 percent in June 2011 in theSt. Louis, MO-IL Metropolitan Statistical Area (MSA), but was still significantly higher than the 2008annual average of 6.4 percent. (See annual unemployment rates by county in the StatisticalSection of this document.) While national home sales showed some improvement over the pastyear, improved home sales in the St. Louis region came with deflated home prices.Regional sales taxes are the largest source of subsidy for public transportation in Missouri.Unemployment clearly impacts sales taxes as illustrated by the fall of retail sales. The regionexperienced some recovering in sales taxes at the end of FY2011. Sales tax collections increased by3.0% in St. Louis County between 2011 and 2010 and also increased in the City of St. Louis by 1.5%over the same period. While trending upward, sales taxes are still considerably below levels prior to2008. With the State of Missouri experiencing economic budget pressures due to declining revenues,the state has reduced its operating subsidy to the Agency almost entirely providing support under$200,000 in FY2011.The economic climate has also impacted Business Enterprise units. In recent years, the GatewayArch, Arch Parking Facility, Riverboats, and the St. Louis Downtown Airport have experienced mixedchanges in business volume. The St. Louis Downtown Airport has been affected by the sloweconomy and the Riverboats have been plagued by high flood waters, forcing them to close forbusiness during portions of their busy season.ix
Page 1 and 2: 2011Comprehensive AnnualFinancial R
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Page 5 and 6: October 26, 2011Vincent C. Schoemeh
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for) operating activities $ (343,73
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for) operating activities $ 142,907
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Ticket prices are: All: $62.00"Sund
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707 N. First StreetSt. Louis, MO 63
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Comprehensive Annual Financial Report - Metro Transit

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