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File #: 20-598   
Type: Lossan Status: Agenda Ready - Regular Calendar
File created: 9/30/2020 In control: Board
On agenda: 11/16/2020 Final action: 11/16/2020
Title: Fiscal Year 2020-21 Budget Amendment
Sponsors: Jason Jewell
Attachments: 1. Staff Report, 2. Attachment A

Title

Fiscal Year 2020-21 Budget Amendment

 

Overview

The Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s fiscal year 2020-21 budget and the Business Plan for Fiscal Year 2020-21 and Fiscal Year 2021-22 were approved by the Board of Directors on May 18, 2020.The California State Transportation Agency approved the administrative and marketing components of the fiscal year 2020-21 budget on July 9, 2029 and the operations component on September 23, 2020. Staff is seeking Board of Directors’ approval to amend the fiscal year 2020-21 budget to include the Amtrak Federal Fiscal Year 2020-21 operating forecast and funding levels approved by the California State Transportation Agency, as well as revisions to the administrative, marketing, and grant budgets. 

 

Recommendation(s)

A.                     Amend the Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s Fiscal Year 2020-21 revenue and expense budget to reflect the revised Amtrak operating revenue and expense forecast and State-approved operating funding levels through January 2021, as well as the revised administrative, marketing, and grant budgets.

 

B.                     Authorize the Managing Director to make amendments to the Master Fund Transfer Agreement annual supplements for operating funds, minor capital improvement projects funds, administrative, and marketing funds.