DATE: June 22, 2016
TO: South Hayward BART Joint Powers Authority
FROM: Assistant City Manager
BART Real Estate & Property Development Manager
SUBJECT
Title
Adoption of FY 2017 Proposed Budget and Prioritization of Access Improvement Projects for the Fiscal Year Beginning July 1, 2016
End
Body
DISCUSSION
Attachment II provides the complete Proposed FY2017 Operating Budget.
ANTICIPATED AUTHORITY REVENUE
The FY 2017 budget forecasts parking revenue at $640,185 for all daily non-reserved and permit parking and $25,149 in on-street parking citation revenue. Staff anticipates $665,334 in total revenue for the fiscal year. Parking revenue assumes parking rates stay at their current levels and that parking demand remains consistent with previous years. Citation revenue assumes citations remain consistent with the past two fiscal years.
ANTICIPATED AUTHORITY EXPENDITURES
Operating Expenses
The City's Maintenance Services Department (MSD) estimates annual parking enforcement activities will cost approximately $22,000. Additionally, MSD is requesting an additional $10,000 to bolster graffiti abatement and illegal dumping cleanup activities within the boundaries of the JPA. The JPA will continue to retain Goldfarb & Lipman, LLP as legal counsel for FY 2017 at an annual estimated cost of $7,000. The JPA will utilize the City's auditor Maze and Associates to conduct the annual audit of the Authority at a cost of $6,000. BART projects the electricity costs for lighting in the parking lot to be $24,000.
All staffing and operating expenses will be paid to each agency on a reimbursement basis based on documented expenses.
Maintenance
Hayward MSD identifies three maintenance activities to take place every five years at a cost of $50,000. Each year, the JPA will budget $10,000 to develop the fund balance to complete these maintenance activities. Table 1 below breaks down the budget for these activities.
TAB...
Click here for full text