Title
Fiscal Year 2019-20 Budget Amendment and Fiscal Years 2019-20 and 2020-21 Business Plan Amendment
Overview
The Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s Fiscal Year 2019-20 budget and the fiscal years 2019-20 and 2020-21 business plan were approved by the Board of Directors on March 18, 2019. The business plan was submitted to the Secretary of the California State Transportation Agency on March 29, 2019, prior to the April 1 deadline. In order to incorporate the federal fiscal year 2019-20 revenue and expense forecast received from Amtrak on April 1, 2019, the California State Transportation Agency has allowed for a revised budget and resubmittal of the business plan by June 30, 2019, for final approval.
Recommendation(s)
A. Amend the Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s Fiscal Year 2019-20 revenue and expense budget to reflect the revised Amtrak operating revenue and expense forecast and other adjustments.
B. Amend the Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s business plan for fiscal years 2019-20 and 2020-21 to reflect the revised budget.
C. Direct staff to submit the Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency revised business plan for fiscal years 2019-20 and 2020-21 to the Secretary of the California State Transportation Agency for approval.
D. Authorize the Managing Director to make amendments to the Master Fund Transfer Agreement annual supplements for fiscal year 2019-20 operating funds, minor capital improvement projects funds, administrative, and marketing funds.
E. Authorize the Managing Director to approve total advertising expenditures to exceed $100,000 in Fiscal Year 2018-19 and Fiscal Year 2019-20 each with Facebook and Google for digital ad placements.