Title
Fiscal Year 2021-22 Budget Amendment and Fiscal Years 2021-22 and 2022-23 Business Plan Amendment
Overview
The Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s annual business plan submittal for fiscal year 2021-22 and 2022-23 was approved by the Board of Directors on March 15, 2021. Included in the approval was the draft budget request for fiscal year 2021-22. The business plan was submitted to the Secretary of the California State Transportation Agency on April 1, 2021, as required. To incorporate revised federal fiscal year 2021-22 revenue and expense estimates, the California State Transportation Agency allows for a revised budget and resubmittal of the business plan by June 30, 2021, for final approval.
Recommendation(s)
A. Amend the Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s Fiscal Year 2021-22 revenue and expense budget to reflect revised revenue and expenses in operating, administration, and grants programs.
B. Amend Chapter 11 of the Los Angeles - San Diego - San Luis Obispo Rail Corridor Agency’s business plan for fiscal years 2021-22 and 2022-23 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 2021-22 and 2022-23 to the Secretary of the California State Transportation Agency for approval.
D. Authorize the Managing Director to execute all Master Fund Transfer Agreement annual supplements for funds approved in the budget and revised business plan, as necessary.