| Description:
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Transportation financial review update that provides, for the most recent completed budget year: actual revenues; expenditures; transfers; reserves; balances; and a comparison between the budgeted and actual amounts, with: (1) a breakdown by each transportation funding source identified by the Metropolitan Council, including but not limited to legislative appropriations; federal funds; fare collections; property tax; and sales tax, including sales tax used for active transportation; (2) a breakdown by each transportation operating budget category established by the Metropolitan Council, including but not limited to bus, light rail transit, commuter rail, planning, special transportation service, and assistance to replacement service providers; and (3) data for operations, capital maintenance, and transit capital
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| Note:
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This report mandate is effective the day following final enactment and applies in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington.
This financial review update is due annually by the accounting close of a budget year or August 15, whichever is earlier.
This financial review update must provide information or a methodology that is sufficient to establish a conversion between state fiscal years and budget years, summarize reserve policies, identify the methodology for cost allocation, and describe revenue assumptions and variables affecting the assumptions.
The sales tax used for active transportation in Clause 1 of the Description above is that provided under Minn. Stat. 473.4465 Subd. 2(a)(1).
The special transportation service in Clause 2 of the Description above is that provided under Minn. Stat. 473.386.
The replacement service providers in Clause 2 of the Description above are those provided under Minn. Stat. 473.388.
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