Debt Service & Metro FY 2019 PROPOSED BUDGET HIGHLIGHTS Fund - - PowerPoint PPT Presentation

FY 2019 PROPOSED BUDGET HIGHLIGHTS

County Board Work Session

Debt Service & Metro

April 5, 2018

Fund 101

Metro Operating Budget Overview

1

• Total WMATA FY 2019 operating budget of $1.8 billion (+3%)
• $73 million Arlington County share of subsidy (+3%)
• No fare increases or service reductions
• $12 million of management actions to reduce costs and improve efficiency
• General Fund increase of 12% due to reduction of “one-time” funds used in FY 2018

Summary of Metro Capital Budget

217 224 231 237 245 252 453 470 462 462 462 462 297 297 297 297 297 297 311 325 317 317 317 317 34 47 68 36 18 6 200 400 600 800 1,000 1,200 1,400 1,600 FY19 FY20 FY21 FY22 FY23 FY24

With $ h $500 Mi Millio ion D Dedic dicated F d Funding unding

Jurisdictions Dedicated Funding PRIIA (Fed & State) Federal MWAA / Other 637 631 693 850 893 930 297 297 297 297 297 297 311 325 317 317 317 317 34 47 68 36 18 6 200 400 600 800 1,000 1,200 1,400 1,600 1,800 FY19 FY20 FY21 FY22 FY23 FY24

Witho hout $ $500 Mi Millio ion D Dedic dicated F d Funding unding

Jurisdictions PRIIA (Fed & State) Federal MWAA / Other

33 33 32 32 32 32 32 32 34 34 34 34 Arlington Sha hare 59 59 57 57 61 61 75 75 79 79 82 82 Arlington Sha hare

• Total Metro FY 2019 capital budget of $1.3 billion
• Tentatively, $500 Million of dedicated funding may be approved by DC/MD/VA beginning in FY 2019
• With dedicated funding, FY 2019 Arlington Subsidy is $33 million
• $20 million jurisdictional subsidy & $13 million local share of new dedicated funding source
• If dedicated funding is not approved, FY 2019 Arlington subsidy is $59 million
• County only has enough Bonds and State Aid to meet $28 million of this ask
• County could consider “opting-in” to a Metro bond sale to meet the remaining $31 million need

$ Millions $ Millions

Summary of Metro Capital Budget

Impact to Arlington of New Dedicated Funding Proposal

• Redirected 30% Revenues are a reduction in future TCF annual revenues
• Additional Local Funds can come from any local funding source. To be addressed in

FY 2019 – FY 2028 Capital Improvement Plan

$ Millions

20 20 20 21 22 22 4.5 4.5 4.5 4.5 4.5 4.5 8.2 7.2 7.2 7.2 7.2 7.2 18 15 21 68 59 57 61 75 79 82 10 20 30 40 50 60 70 80 90 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024

Arling lington's W WMA MATA S Subs bsidy idy With & h & Witho hout a a Dedic edicated ed F Fund nding ing S Sour urce

Base Subsidy w Dedicated Redirected 30% Revenues Additional Local Funds Base Subsidy w/o Dedicated 32.7 31.7 31.7 32.7 33.7 33.7

Summary of Metro Capital Budget

7.59 7.78 7.98 8.22 8.46 8.72 1.40 1.40 1.40 1.40 1.40 1.40 3.06 3.12 3.20 3.28 3.36 3.45 8.2 7.2 7.2 7.2 7.2 7.2

• 2.00

4.00 6.00 8.00 10.00 12.00 14.00 16.00 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024

Impact o

• n

n TCF CF - NVTA L Local l 30% 30% R Revenues

Sales Grantors (Dedicated) TOT (Dedicated) Additional Local Funds

Funding that will go directly to Metro Additional Local Funds (required from any local funding source)

$ Millions

Debt Service Overview

5

• FY 2019 debt service budget is $67.8 million
• Includes debt service on a planned issuance of $80 million of general obligation

bonds for County projects in June 2018. Request to come before the Board in May.

• Projects include:

F Y 17 F Y 18 F Y 19 Actual Adopted Proposed Principal 44,712,972 41,644,012 43,670,189 Interest 17,323,432 22,981,617 25,792,094 Other 26,953 125,000 125,000 Total Expenditures 62,063,358 64,750,629 69,587,282 Less: Debt Service Supported by AHIF (1,788,192) (1,786,284) (1,787,282) Total Non-AHIF Supported Debt Service 60,275,165 62,964,345 67,800,000

Paving Lubber Run Community Center Parks Maintenance Capital Facilities Maintenance Capital Safe Routes to Schools BikeArlington Bridge Renovation Critical Systems Infrastructure Fleet Elementary Parking Deck WMATA WalkArlington Trail Maintenance Jennie Dean Park Parks Land Acquisition Other Approved County Projects