SUBJECT:
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Approval of a resolution adopting the Fiscal Year 2025 Operating and Capital Budget and Five-Year Capital Improvement Plan, and recommending no changes to the CapMetro Strategic Plan.
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FISCAL IMPACT:
Adoption of the proposed Fiscal Year (FY) 2025 budget will provide an appropriation of $704,769,612 in FY2025 for operating and capital expenses that are supported by projected revenue and other funding sources.
STRATEGIC PLAN:
Strategic Goal Alignment:
? 1. Customer ? 2. Community
? 3. Workforce ? 4. Organizational Effectiveness
Strategic Objectives:
? 1.1 Safe & Reliable Service ?1.2 High Quality Customer Experience ? 1.3 Accessible System
? 2.1 Support Sustainable Regional Growth ? 2.2 Become a Carbon Neutral Agency
? 2.3 Responsive to Community and Customer Needs ? 2.4 Regional Leader in Transit Planning
? 3.1 Diversity of Staff ? 3.2 Employer of Choice ? 3.3 Expand Highly Skilled Workforce
? 4.1 Fiscally Responsible and Transparent ? 4.2 Culture of Safety ? 4.3 State of Good Repair
EXPLANATION OF STRATEGIC ALIGNMENT: The proposed FY2025 budget includes funding to maintain CapMetro's current services while also adding new innovative mobility initiatives, customer service enhancements and building infrastructure needed to support the region's current and future growth. The five-year capital improvement plan identifies projects that support the achievement of CapMetro's strategic goals, ensures regulatory compliance and maintains assets in a state of good repair.
BUSINESS CASE: CapMetro has prepared a structurally balanced budget that provides the funding needed to continue delivering high-quality and efficient transportation services.
COMMITTEE RECOMMENDATION: This item was presented and recommended for approval at the Finance, Audit and Administration Committee meeting on September 11, 2024.
EXECUTIVE SUMMARY: The propose...
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