HomeMy WebLinkAboutAgenda Statement 1977/02/08 Item 07CITY OF CNULA VISTA ITEM N0. ~
COUNCIL AGENDA STATEtvIENT~ ; / $ /7
FOR MEETING OF: "
ITEM TITLE~'Resolution 8500: Authorizing the Submittal of an.Arnended Local
Transportation Fund C'la'-n for FY 1975-76
SU6;IAITTED BY~ Director of Public 6~orks Cit ''
/ y Engineer
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ITEPA EXPLANATION ' ~~ai ~~ ~~ ~s
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The City's FY 75-76 LTF Claim was based on estimated costs for that year.
The estimated costs totaled $315,736 which included $120,720 for the
purchase of ttao transit buses and ancillary equipment. Based on the
estimates, the Cit~a's FY 75-76 LTF claim was determined to be $137,584.
This amount was later amended to include reimbursement to the City for
the cost of the Transit i~Teeds Study ($18,250). Total LTF receipts for
1•'Y 75-76 were $155, 334.
The rules and regulations of the Transportation Development Act stipu-
late that LTr claims will be adjusted on the basis of a year-end audit
of the transit operation. The audited expenses for FY 75-76 were con-
siderably lower tha17 originally estimated, partly because the transit
buses were not pure}used. Total expenses for FY 75-76, including the
consultant study, were $204,739.
ThE City, as a municipal transit operator, is entitled to receive L•TF
assistance equal to the difference between expanses and local revenues
(i.e. passer_ger fares, required City assistance, and interest income)
up to a limit which is established by various regulations. Based on
tl~e audited costs and revenues for FY 75-76 the City was entitled to
receive $119,750. Actual LTF receipts for the year totaled $155,834,
an excess of $36,084 which must be repayed to the City's LTF account.
(Continued nn Supplemental Page 2)
EXH(f31T~ ATTACHED
Agreement Resolution X Ordinance Plat Other
Environmenfal Document: Attached Submitted on
STAFF RECO,~+MENDATiON:
. Appropriate $29,280 from the unappropriated balance of the Federal Anti-
kecession Fui:ds and transfer it to the ~3us Service Operation Fund.
Approve submittal of an amended FY 75-76 LTF for $119,750.
Authorize repayment of the excess FY 75-76 LT>:' receipts ($36,084) from
the Bus Service Operation Fund.
BOARD/ COIv1h~1SSlON RECG~~irvtENDATIOy~
COUNCIL ACTION Approved as amended - deletion of last paragraph of
resolution.
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Item No. 7
Supplemental Page 2
During FY 75-76 payments from the LTF were sufficient to meet the
demands for cash and it was not necessary to transfer money from City
funds. Therefore, the required City contribution ($29x280) was not
transferred to the Bus Service Fund; a transfer is now required to repay
the City's LTF account. The Finance Department has recommended the use
of Federal Anti-Recession Funds.