southeastern pennsylvania transportation …the regular meeting of the board of the southeastern...

MINUTES OF REGULAR BOARD MEETING OF

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY JANUARY 23, 2014

The Regular Meeting of the Board of the Southeastern Pennsylvania Transportation Authority was held on Thursday, January 23, 2014 at 3:00 PM, in the Board Room of the Authority, with the Chairman in the Chair.

Present

Attending the meeting were the following Board members:

Pasquale T. Deon, Sr., Chairman Thomas E. Babcock, Vice Chairman Beverly Coleman Rina Cutler Thomas Jay Ellis, Esquire Christopher H. Franklin Honorable Stewart J. Greenleaf Kevin L. Johnson, P.E. John I. Kane Daniel J. Kubik (via telephone) Kenneth E. Lawrence, Jr. Honorable Charles H. Martin Honorable Leslie S. Richards James C. Schwartzman, Esquire Cuyler H. Walker, Esquire

Present from the staff:

Joseph M. Casey, General Manager James B. Jordan, Esquire, General Counsel Richard G. Burnfield, Chief Financial Officer/Treasurer Jeffrey D. Knueppel, Deputy General Manager Stephen A. Jobs, Controller Carol R. Looby, Secretary Kim Scott Heinle, AGM, Customer Service Ronald G. Hopkins, AGM, Operations Francis E. Kelly, AGM, Government & Public Affairs Susan Van Buren, AGM, Human Resources

Mr. Deon called the Regular Meeting of the Board to order. Mr. Deon said the Special Meeting, which was noticed, was cancelled.

Mr. Deon announced that Danny Kubik would be participating by phone. Mr. Kubik acknowledged his presence.

Pledge of Allegiance was observed.

Minutes of Regular Board Meeting January 23, 2014

Mr. Deon announced that the Board met in Executive Session just prior to the meeting to discuss legal matters.

Mr. Deon stated that if there were speakers who wished to address agenda items they would be called before the Board voted on the i tern and asked that they limit their remarks to three minutes. He said speakers wishing to address i terns not on the agenda would be called after the regular business of the Board was completed.

Approval of Minutes

Mr. Deon entertained a motion regarding the Minutes of the December 19 Regular Board meeting, which had been circulated. Mr. Ellis moved, Mr. Kane seconded, and the Minutes were unanimously approved.

Financial Report

Mr. Burnfield reported that in December, regional rail ridership continued to be strong with ridership 4 percent above last year and city transit ridership was essentially level with last year.

Mr. Burnfield reported that the total operating revenue was $550, 000 above budget. He said that operating expenses were $240, 000 under budget for this period. Mr. Burnfield reported that for the month there was a budget surplus of $790, 000 and year-to-date there was a budget surplus of $24 0, 000. He said that with the extreme weather conditions to date, in January, he expected less favorable results for the current month.

Mr. Deon entertained a motion to adopt the Financial Report. Mr. Ellis moved, Mr. Lawrence seconded and it was unanimously adopted.

The December Financial Report is received and filed and is attached to these Minutes as Exhibit "A."

Mr. Deon then called for speakers wishing to address agenda items. There was no response.

Consent Calendar

Mr. Deon consisted of:

then presented the

"Award of Various Proposals;"

Contracts

Consent Calendar,

Pursuant to Request

"Authorization to Execute a Consultant Amendment;"

2

which

for


"Lease to Ali Akber of Space No. 621 of 69th Street Terminal;"

"Authorization to Award Contracts for Various Procurements;"

"Award of Various Contracts for Sole Source Procurements;"

and

"Authorization to Execute an Amendment."

Mr. Deon noted that Item I.A.1., Award of Various Contracts Pursuant to Request for Proposals had been revised, and that a copy of the revised resolution had been provided to the Board. He stated that all of the remaining items on the Consent Calendar were reviewed by the appropriate Board Committees in public session.

Mr. Deon entertained a motion to adopt the resolutions. Mr. Ellis moved, Ms. Coleman seconded and the following resolutions were unanimously adopted with Mr. Schwartzman abstaining on Item I .A. 2.

I.A. AWARD OF VARIOUS CONTRACTS PURSUANT TO REQUEST FOR PROPOSALS

"WHEREAS, SEPTA, which has need for the services as described below, has advertised and solicited proposals from firms wishing to propose; and

WHEREAS, SEPTA staff has requested that the General Manager recommend that the Board authorize the award contracts to the firms listed below because said firms were the successful proposers in the areas for which the request for proposals was issued; and

WHEREAS, the General Manager recommended that the Board authorize the award of the contracts.

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes SEPTA to award subject to the following conditions and the General Manager to execute the following contracts, in form approved by the Office of General Counsel, subject to the concurrence of the funding agencies, if required, and contingent upon and subject to the proposers satisfactorily meeting all requirements of the terms and conditions of the relevant request for proposals, including the provision of any required insurance certificates and full compliance with any applicable Disadvantaged Business Enterprise (DBE) requirements:

1. To conservation

Constellation measures at

NewEnergy, Inc., to provide energy SEPTA' s Berridge Shop (including

3


Courtland Shop), Southern Garage, Fern Rock Shop and Germantown Garage in accordance with Pennsylvania Guaranteed Energy Savings Acts, including an Investment Grade Audit ( IGA), with services scheduled to commence upon issuance of Notice-to-Proceed pending final negotiations of an Investment Grade Audit ( IGA+ Agreement and CESA contract and receipt of required performance bond and insurance certificate, as described in the staff summary on this subject, for a total contract amount for the IGA not to exceed $69,545, Request for Proposals No. 13-036-JFK - ESCO Projects.

2. To Public Financial Management, Inc., to provide financial advisory services to the Authority, with services to be performed on an "as needed" basis over a period of five years scheduled to commence on March 1, 2014, as described in the staff summary on this subject, for a total estimated contract amount not to exceed $600, 000, Request for Proposals No. 13-058-TMF -Financial Advisory Services."

I.B. AUTHORIZATION TO EXECUTE A CONSULTANT AMENDMENT

"WHEREAS, additional work is required to complete the project identified below; and

WHEREAS, staff reviewed the additional work and the General Manager recommended that the Board authorize SEPTA to enter into the amendment for the additional work.

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes SEPTA to award and the General Manager or his designee to execute the consultant amendment identified below in form approved by the Office of General Counsel, subject to the concurrence of the funding agencies, if required, and to any applicable Disadvantaged Business Enterprise requirements:

1. To Parsons Transportation Group, Inc., for Amendment No. 5, which provides for updates to construction bid documents on the SEPTA - Margaret-Orthodox Station Rehabilitation Project, at an increase in cost not to exceed $240,684, bringing the total contract price, including all amendments to date, to an amount not to exceed $3,620,158."

II.A. LEASE BY SEPTA TO ALI AKBER OF SPACE NO. 621 OF 69TH STREET TERMINAL

"WHEREAS, SEPTA owns the 69u Street Terminal ("Terminal"), which is located in Upper Darby, Delaware County, and within the Terminal are various spaces that SEPTA leases to commercial tenants; and

WHEREAS, SEPTA invited sealed bids for Space No. 621 of the Terminal, comprised of 963 square feet of space, with the intent to recommend that the Board award a lease ("Lease") to the highest responsive and responsible bidder; and

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WHEREAS, Ali Akber ("Tenant") submitted the highest responsive and responsible bid for Space No. 621 of the Terminal, to use the demised premises as a check cashing and convenience store; and

WHEREAS, the initial term of the proposed Lease is for a period of five years commencing March 1, 2014, with two consecutive five-year renewal options, at an initial annual rental of $25, 200 ($2, 100 per month) during the base five-year term, with annual increases thereafter of three percent (3%); and

WHEREAS, SEPTA will waive the rent for the first six months of the initial term of the Lease as consideration for Tenant's securing necessary approvals and completion of fit-out work; and

WHEREAS, Tenant will be responsible for improvements, maintenance and repairs, including ventilation and air conditioning systems, as well metered utilities and trash removal; and

all interior the heating,

as separately

WHEREAS, staff requested that the General Manager recommend that the Board authorize SEPTA to enter into the proposed Lease with Ali Akber, subject to Federal Transit Administration (FTA) concurrence, under the terms set forth above and more fully described in the pertinent staff summary; and

WHEREAS, the General Manager made the recommendation.

NOW, authorizes will lease under the summary.

THEREFORE, BE IT RESOLVED, that the Board hereby SEPTA to enter into the proposed Lease by which SEPTA Space No. 621 of the 69th Street Terminal to Ali Akber

terms set forth above and within the pertinent staff

FURTHER RESOLVED, that the Board General Manager to execute all documents, Office of General Counsel, and to do any shall be deemed necessary and proper in purpose of this Resolution."

hereby authorizes the in form approved by the and all other things as order to effectuate the

II.B. AUTHORIZATION TO AWARD CONTRACTS FOR VARIOUS PROCUREMENTS

"WHEREAS, SEPTA advertised and invited bids for the supplies identified below; and

WHEREAS, the firms listed below were the lowest responsive and responsible bidders to the invitation for bids; and

WHEREAS, staff requested that the General Manager recommend that the Board authorize SEPTA to award the contracts identified below; and

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WHEREAS, the General Manager made the recommendation to the Board.

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes SEPTA to award and for the General Manager or his designee to execute the contracts identified below in form approved by the Office of General Counsel, subject to and contingent upon the concurrence of the funding agencies, if required, and contingent upon and subject to the vendors satisfactorily meeting all requirements of the bid terms and specifications, including full compliance with any applicable Disadvantaged Business Enterprise requirements:

1. To Stouch Lighting, Inc., for the purchase of linear LED bulbs for lighting improvements to be installed at 2nct Street, 11th Street, and 13th Street MFSE stations as part of the Stainless Steel Fixtures and LED Conversion Project, with delivery of material scheduled for four weeks following issuance of Notice-to-Proceed, as described in the staff summary on this subject, for a total contract amount not to exceed $110,489.48, Sealed Bid No.13-118-JJC - Lighting - LED Tubes.

2. To EHC Global, Inc. (and its subsidiaries) for the provision of all labor, supervision, tools, labor, equipment, material, permits and insurance to perform escalator handrail services at various SEPTA locations, with services to be performed on an "as required" basis over a period of five years scheduled to commence in January 2014, as described in the staff summary on this subject, for a total contract amount not to exceed $27 5, 44 8, Sealed Bid No. 13-07 9-DJM - Escalator Handrail Services.

3. To Kirk's Automotive, Inc., for the purchase of 1200 remanufactured Delco-Remy Generator Modules, to be used in the general maintenance of SEPTA' s bus fleets, at a unit price of $549, with delivery of material within 30 calendar days of receipt of the SEPTA' s cores following issuance of Notice-toProceed, as described in the staff summary on this subject, for a total contract amount not to exceed $658,800, Sealed Bid No. 13-131-BJV - Remanufactured Delco-Remy Generator Modules."

II.C. AWARD OF VARIOUS CONTRACTS FOR SOLE SOURCE PROCUREMENTS

"WHEREAS, SEPTA has need for the described below and those supplies and only from the firms listed below; and

supplies and services services are available

WHEREAS, staff reviewed the cost of the supplies and services and the General Manager recommended that the Board authorize SEPTA to award the contracts.

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes SEPTA to award and the General Manager or his designee

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to execute the contracts identified below, all in form approved by the Office of General Counsel, subject to the concurrence of the funding agencies, if required, and contingent upon and subject to each vendor I contractor satisfactorily providing any required bonds, insurance certificates and/or other documents, and complying with any applicable Disadvantaged Business Enterprise requirements:

1. To Wabtec Passenger Transit, Westinghouse Air Brake Technologies Corporation, for the purchase of 650 disc brake rebuild kits to be used on SEPTA's Silverliner V rail car fleet, at a unit price of $132. 60 including freight, with delivery of materials commencing in May 2014, as described in the staff summary on this subject, for a total contract amount not to exceed $86,190.

2. To Dellner Couplers, Inc., for the purchase of 400 rubber mechanical springs to be used on the Coupler Overhaul Program on the B-IV car fleet, at a unit price of $575 including freight, with delivery of material scheduled to commence in May 2014, as described in the staff summary on this subject, for a total contract amount not to exceed $230,000.

3. To Vapor Stone Rail Systems, for Items Nos. 1 and 2, for the purchase of six each center left-hand and center right-hand air door engines to be used on SEPTA's B-IV car fleet, at unit prices of $7,136.05 and $7,802.65, respectively, with delivery of material scheduled in July 2014, as described in the staff summary on this subject, for a total contract amount not to exceed $89,632.20.

4. To Bombardier Transportation (Holdings) USA, Inc., for the purchase of spare printed circuit boards of various wayside functionality to be used in replenishing failed boards on the Communications Based Train Control (CBTC) System, with delivery of material 180 days after issuance of purchase order, as described in the staff summary on this subject, for a total contract amount not to exceed $114,310."

II.D. AUTHORIZATION TO EXECUTE AN AMENDMENT

"WHEREAS, additional work is required to complete the projects identified below; and

WHEREAS, staff reviewed the cost of the additional work and the General Manager recommended that the Board authorize SEPTA to order the additional work.

NOW, authorizes to execute Office of

THEREFORE, BE IT RESOLVED, that the Board hereby SEPTA to award and the General Manager or his designee the amendment identified below in form approved by the General Counsel, subject to the concurrence of the

7


funding agencies, if required, and to Disadvantaged Business Enterprise requirements:

any applicable

1. To MV Contract Transportation, Inc., for Amendment No. 2, which provides for additional revenue hours and close-out of the contract for paratransit services in Philadelphia County, at an increase in cost not to exceed $57, 100, bringing the total contract price, including all amendments to date, to an amount not to exceed $23,623,418.u

Report of General Manager

Mr. Casey said that 2014 has been shaping up to be an extreme weather year, with everything from both unseasonably warm and cold temperatures to snow, ice and high winds. He said that because we know that so many people count on SEPTA when the weather is bad, we spend countless hours in fine tuning our preparations so that we are ready when storms hit.

Mr. Casey reported that for the past several weeks, many SEPTA employees have spent long hours in extremely frigid temperatures monitoring the system, making vehicle and infrastructure repairs, cleaning platforms and parking lots and operating vehicles under difficult circumstances. He said that SEPTA employees take great pride in their commitment to customer service.

Mr. Casey said that while staff makes every effort to keep the SEPTA system in the state of good repair, until recently there was very little staff could do to replace much of our old technology, infrastructure or vehicle because of severely limited capital funding. He said that the recently announced "Catching Up Planu made possible by the passage of the Pennsylvania Transportation Fund Bill will now make it possible to remedy many of the weather created situations we have been dealing with.

Mr. Casey said that future improvements include overhead wire replacements on the trolley lines on the Media-Sharon Hill Line, catenary replacement to the tunnel for the trolleys, and significant fleet upgrades to replace city and suburban trolleys and buses and regional rail vehicles.

Mr. Casey said that the bitter cold forecasted for the next several days will continue to pose challenges for service operations, but employees are prepared to meet those challenges.

Mr. Deon commented that it has been a couple of difficult days and that the employees have done a good job.

Adjournment

There being no further business to come before the Board at this Regular Meeting, it was moved by Mr. Babcock seconded by Mr.

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Johnson, and unanimously adopted that the meeting be adjourned at 3:08 PM.

A transcript of this meeting was made by an official court reporter and is made a part of the original Minutes.

Carol R. Looby Secretary

9

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY

FINANCIAL REPORT

DECEMBER 2013

For Period Ended December 28, 2013

January 10, 2014 rj ~ :t: -i ;j -i -:3

l>

FINANCIAL REPORT - DECEMBER 2013

COMMENTARY

Summary of Financial Results and Commentary

GROUP 1 -CONSOLIDATED OPERATIONS

(1.1) Consolidating Statement of Income - (YTD) (1.2) Consolidating Statement of Revenue and Expense - (YTD) (1.3) Consolidating Statement of Income - (One Month) (1.4) Consolidating Statement of Revenue and Expense - (One Month)

GROUP 2 - CITY TRANSIT DIVISION

(2.1) Comparative Statement of Income (2.2) Detail Income Statement - (One Month) (2.3) Detail Income Statement - (YTD)

GROUP 3 - VICTORY DIVISION


GROUP 4 - FRONTIER DIVISION


GROUP 5 - REGIONAL RAIL DIVISION



COMMENTARY

Summary of Financial Results and Commentary

SUMMARY

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY DECEMBER AND YEAR-TO-DATE RESULTS OF OPERATIONS

The following is a summary of Divisional operating results (i.e. deficit before operating subsidies) and consolidated

results after subsidies for December 2013 and the six-month period then ended. The results are compared to the Fiscal

Year 2014 budget and to the prior year results in the accompanying financial statements.

(IN THOUSANDS) DIVISION MONTH OF DECEMBER SIX MONTHS ENDED DECEMBER

2013 2012 2013 2012

City Transit $ (41,992) $ (44,790) $ (252,672) $ (265,046)

Victory (5,837) (5,417) (34,087) (33,580)

Frontier (2,173) (2,035) (12,952) (12,674)

Regional Rail (11,953) (13,096) (68,101) (72,332)

Total Deficit Before Subsidies (61,955) (65,338) (367,812) (383,632)

Operating Subsidies 62,739 65,557 368,052 382,093

Surplus/(Deficit) After Subsidies 784 219 240 (1,539)

Unrealized Investment Gain/(Loss) (250) - (490)

Surplus/(Deficit) After Investment $ 534 $ 219 $ (250) $ (1,539)

Gain/Loss

The surplus after subsidies for the month of December was $784 thousand and the cumulative surplus for the six

months was $240 thousand. Passenger revenue for the month was $487 thousand (or 1.4%) better than budget.

Passenger revenue for the six months of Fiscal 2014 was $2.1 million (or 0.9%) worse than budget. Shared Ride

Program revenue was $42 thousand worse than budget for the month of December and was $347 thousand (or 3.8%)

better than budget for December year-to-date. Operating expenses for the month of December were $238 thousand

better than budget. For the six-month period, operating expenses were $2.9 million (or 0.5%) better than budget.

- 1 -


DIVISIONAL COMMENTARY ON DECEMBER AND YEAR-TO-DATE RESULTS

CITY TRANSIT DIVISION

The Division's operations for December 2013 resulted in a deficit before subsidies of $42.0 million for the month

and a year-to-date deficit before subsidies of $252. 7 million, which is 1.2% worse than budget.

Passenger revenue for the month of December was $119 thousand (or 0.5%) worse than budget. For the six

months of Fiscal 2014 total passenger revenue was $5.5 million (or 3.8%) worse than budget. Shared Ride Program

revenue for December year-to-date was $347 thousand (or 3.8%) better than budget. Operating expenses for the six

month period were better than budget.

For the first six months of the fiscal year, the operating surplus after subsidies was $176 thousand.

VICTORY DIVISION

The Division's operations for December resulted in a deficit before subsidies of $5.8 million bringing the cumulative

deficit before subsidies for the six months of the fiscal year to $34.1 million, which is 4.0% worse than budget.

Passenger revenue for December was $28 thousand (or 1.6%) better than budget and for the six months of Fiscal

2014 was $21 thousand (or 0.2%) worse than budget. Operating expenses for the six-month period were worse than

budget.


- 2 -

FRONTIER DIVISION


Operations for the month of December resulted in a deficit before subsidies of $2.2 million bringing the cumulative

deficit before subsidies for the six months of the fiscal year to $13.0 million, which is 2.1 % better than budget.

Passenger revenue for December was $4 thousand (or 0.8%) better than budget and for the six months of Fiscal

2014 was $157 thousand (or 5.1%) better than budget. Operating expenses for the six-month period were better than

budget.


REGIONAL RAIL DIVISION

Operations for the month of December resulted in a deficit before subsidies of $12.0 million bringing the cumulative

deficit before subsidies for the six-month period to $68.1 million, which is 5.9% better than budget.

December passenger revenue was $574 thousand (or 5.2%) better than budget and year-to-date passenger

revenue was $3.3 million (or 4.6%) better than budget. Operating expenses for the six-month period were better than

budget.


- 3 -


GROUP 1 - CONSOLIDATED OPERATIONS

(1.1) Consolidating Statement of Income - (YTD) (1.2) Consolidating Statement of Revenue and Expense - (YTD) (1.3) Consolidating Statement of Income - (One Month) (1.4) Consolidating Statement of Revenue and Expense - (One Month)

OPERATING REVENUES

Passenger Revenue

Other Operating Revenue

Sub-Total - Operating Revenue

Shared Ride Program

TOTAL REVENUE AVAILABLE FOR OPERATIONS

OPERATING EXPENSES

DEFICIT BEFORE SUBSIDIES

OPERATING SUBSIDIES

SURPLUS AFTER SUBSIDIES

Unrealized Investment Galn/(Loss)

SURPLUS/(DEFICITl AFTER INVESTMENT LOSS

Page 1.1 1/10/14

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF INCOME SIX MONTHS ENDED DECEMBER 28, 2013

(THOUSANDS)

CITY REGIONAL TRANSIT VICTORY FRONTIER RAIL DIVISION DIVISION DIVISION DIVISION

s 141,457 s 11,255 s 3,265 s 73,779 s 9,300 1,131 316 6,335

150,757 12,386 3,581 80, 114 9,384 - - -

160,141 12,386 3,581 80,114

412,813 46,473 16,533 148,215

(252,672) (34,087) (12, 952) (68, 101)

252,848 34,112 12,961 68, 131

s 176 s 25 s 9 s 30 s (138) (14) (5) (333)

s 38 s 11 s 4 s (303) s

BUDGET VARIANCE TOTAL BUDGET SEPTA AMOUNT AMOUNT PERCENT

229,756 s 231,901 s (2, 145) (0.92) 17,082 17,929 (847) (4.72)

246,838 249,830 (2,992) (1.20) 9,384 9,037 347 3.84

256,222 258,867 (2,645) (1.02)

624,034 626,970 2,936 0.47

(367,812) (368, 103) 291 0.08

368,052 368,103 (51) (0.01)

240 s - s 240

(490) - (490)

(250) s - s (250)

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF REVENUES AND EXPENSES

SIX MONTHS ENDED DECEMBER 28, 2013

(THOUSANDS)

CITY TRANSIT VICTORY FRONTIER REGIONAL RAIL DIVISION DIVISION DIVISION DIVISION TOTAL SEPTA

OPERATING REVENUES BUDGET ACTUAL BUDGET ACTUAL BUDGET ACTUAL BUDGET ACTUAL BUDGET ACTUAL

Passenger Revenue $ 147,001 $ 141.457 $ 11,276 $ 11.255 $ 3,108 $ 3,265 $ 70,516 $ 73,779 $ 231,901 $ 229,756 Shared Ride Program 9,037 9,384 - - - - - - 9,037 9,384 Investment Income 209 465 9 16 3 5 279 241 500 727 Other Income 8,772 8,835 1.004 1.115 323 311 7,330 6,094 17.429 16,355

TOTAL OPERATING REVENUE 165,019 160,141 12.289 12.386 3.434 3.581 78, 125 80,114 258,867 256,222

OPERATING EXPENSES

Labor, including Paid Absences 187,519 184,927 19,940 21.082 8,341 8,083 57,519 58,733 273,319 272,825 Fringe Benefits 116.408 113,746 11,631 11,658 3,967 4,055 34,331 33,488 166,337 162,947 Material & Services 60,526 64,706 8,323 8,556 1,824 1,860 40,910 38,974 111,583 114,096 Injuries & Damages 16,844 16,844 1,687 1,687 647 647 2.430 2.430 21,608 21.608 Propulsion Power 7,649 7,506 681 672 - - 9,546 9,029 17,876 17,207 Fixed Rent 1,016 996 58 53 22 20 293 269 1,389 1,338 Fuel 18,526 17,891 2,662 2,672 1,836 1,843 357 315 23,381 22,721 Depreciation 6.259 6,197 98 93 26 25 5,094 4,977 11.477 11.292

TOTAL OPERATING EXPENSES 414.747 412.813 45,080 46,473 16,663 16,533 150.480 148,215 626,970 624,034

DEFICIT BEFORE SUBSIDIES (249,728) (252,672) (32,791) (34,087) (13,229) (12,952) (72,355) (68, 101) (368, 103) (367,812)

OPERATING SUBSIDIES

Federal 12,723 12,894 1,771 1,842 699 685 2.470 2,242 17,663 17,663

State 193,396 195,992 26,918 28,005 10,627 10,407 37,546 34,083 268.487 268.487 Local 29,009 29,399 4,038 4,201 1,594 1.561 5,632 5,112 40,273 40,273 Lease Cost/Debt Service 13,925 13,925 64 64 18 18 26,244 26,244 40,251 40,251 other-Route Guarantees 675 638 - . 291 290 463 450 1.429 1,378

TOTAL SUBSIDIES 249,728 252,848 32,791 34,112 13,229 12,961 72.355 68, 131 368,103 368,052

SURPLUS AFTER SUBSIDIES $ $ 176 $ . $ 25 $ . $ 9 $ . $ 30 $ . $ 240

Unrealized Investment Gain/(Loss) . (138) . (14) . (5) - (333) . (490)

SURPLUS/CDEFICITl AFTER INVESTMENT LOSS l . $ 38 $ . $ 11 $ . $ 4 $ . $ (303) $ - $ (250)

Page 1.2 1/10/14

OPERATING REVENUES

Passenger Revenue Other Operating Revenue

Sub-Total - Operating Revenue

Shared Ride Program


OPERATING EXPENSES


OPERATING SUBSIDIES

SURPLUS AFTER SUBSIDIES

Unrealized Investment Galn/(Loss)

SURPLUS/CDEFICIT} AFTER INVESTMENT LOSS

Page 1.3 1/10/14

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF INCOME ONE MONTH ENDED DECEMBER 28, 2013

(THOUSANDS)

CITY REGIONAL TRANSIT VICTORY FRONTIER RAIL DIVISION DIVISION DIVISION DIVISION

s 22,570 s 1,740 s 489 s 11,643 s 1,741 170 58 1,009

24,311 1,910 547 12,652 1,308 - - -

25,619 1,910 547 12,652

67,611 7,747 2,720 24,605

(41,992) (5,837) (2, 173) (11,953)

42,566 5,918 2,203 12,052

s 574 s 81 s 30 s 99 s (9) - - (241)

s 565 s 81 s 30 s (142) s

BUDGET VARIANCE TOTAL BUDGET SEPTA AMOUNT AMOUNT PERCENT

36,442 s 35,955 s 487 1.35 2,978 2,870 108 3.76

39,420 38,825 595 1.53 1,308 1,350 (42) (3.11)

40,728 40,175 553 1.38

102,683 102,921 238 0.23

(61,955) (62,746) 791 1.26

62,739 62,746 (7) (0.01)

784 s s 784

(250) - (250)

534 s - s 534

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF REVENUES AND EXPENSES

ONE MONTH ENDED DECEMBER 28, 2013

(THOUSANDS)

CITY TRANSIT VICTORY FRONTIER REGIONAL RAIL DIVISION DIVISION DIVISION DIVISION TOTAL SEPTA

OPERATING REVENUES BUDGET ACTUAL BUDGET ACTUAL - BUDGET ACTUAL BUDGET ACTUAL BUDGET ACTUAL

Passenger Revenue s 22,689 s 22,570 s 1,712 1.740 485 s 489 s 11,069 s 11,643 s 35,955 s 36,442 Shared Ride Program 1,350 1,308 - - - - - - 1,350 1.308 Investment Income 35 294 1 2 - 1 47 51 83 348 Other Income 1,368 1,447 143 168 54 57 1,222 958 2,787 2,630

TOTAL OPERATING REVENUE 25,442 25,619 1,856 1,910 539 547 12,338 12,652 40,175 40,728

OPERATING EXPENSES

Labor, including Paid Absences 29,900 30,138 3,100 3,380 1,306 1,282 9,105 9,738 43.411 44,538 Fringe Benefits 20, 109 19,686 2,052 2,138 656 635 5,706 5,380 28,523 27,839 Material & Services 9,665 10,037 1,320 1.418 294 429 7,412 6,692 18,691 18,576 Injuries & Damages 2,590 2,590 259 259 99 99 375 375 3,323 3,323 Propulsion Power 1.483 1.462 141 136 - - 1.651 1.510 3,275 3,108 Fixed Rent 176 128 9 8 4 3 49 41 238 180 Fuel 2,794 2,534 411 392 280 268 55 38 3,540 3,232 Depreciation 1,043 1,036 16 16 4 4 857 831 1.920 1,887

TOTAL OPERATING EXPENSES 67,760 67,611 7,308 7,747 2,643 2,720 25,210 24,605 102, 921 102,683

DEFICIT BEFORE SUBSIDIES (42,318) (41.992) (5.452) (5,837) (2, 104) (2, 173) (12,872) (11,953) (62,746) (61,955)

OPERATING SUBSIDIES

Federal 1.758 1,764 240 263 89 96 361 325 2.448 2,448 State 33,004 33,217 4,522 4,908 1.708 1.788 6,723 6,044 45,957 45,957 Local 4,949 4,983 679 736 256 268 1,009 906 6,893 6,893 Lease Cost/Debt Service 2.494 2,494 11 11 3 3 4,702 4,702 7,210 7,210 Other-Route Guarantees 113 108 - - 48 48 77 75 238 231

TOTAL SUBSIDIES 42,318 42,566 5.452 5,918 2,104 2,203 12,872 12,052 ~746 62,739

SURPLUS AFTER SUBSIDIES s - s 574 s - s 81 s - s 30 s - s 99 s - s 784

Unrealized Investment Gain/(Loss) - (9) - - (241) - (250)

SURPLUS/CDEFICITl AFTER INVESTMENT LOSS s - s 565 s s 81 s s 30 s s (142) s ~ 534

Page 1.4 1/10/14


GROUP 2 - CITY TRANSIT DIVISION


BUDGET

AMOUNT --$ 22,689

$

1,403

24,092

1,350

25.442

67,760

(42,318)

42,318

4,838

431

14,162

54

Page 2.1 1/10/2014


THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/

ACTUAL (WORSE) ACTUAL (WORSE)

AMOUNT BUDGET% AMOUNT LAST YEAR%

$ 22,570 (0.52) $ 20,718 8.94

1,741 24.09 1,494 16.53

24,311 0.91 22,212 9.45

1,308 (3.11) 1,305 0.23

25,619 0.70 23,517 8.94

67,611 0.22 68,307 1.02

(41,992) 0.77 (44,790) 6.25

42,566 0.59 44,953 (5.31)

574 163

(9)

-$ 565 $ 163

4,865 0.56 4,855 0.21

439 1.86 450 (2.44)

14,152 (0.07) 14,326 (1.21)

53 (1.85) 57 (7.02)

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CITY TRANSIT DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED DECEMBER 28 2013

(THOUSANDS)


THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/

BUDGET ACTUAL (WORSE) ACTUAL (WORSE)

AMOUNT AMOUNT BUDGET% AMOUNT LAST YEAR%

OPERATING REVENUES

Passenger Revenue $ 147,001 $ 141,457 (3.77) $ 133,110 6.27

Other Operating Revenue 8,981 9,300 3.55 9,315 (0.16)

Sub-Total - Operating Revenue 155,982 150,757 (3.35) 142.425 5.85

Shared Ride Program 9,037 9,384 3.84 9,013 4.12

TOTAL REVENUE AVAILABLE FOR OPERATIONS 165,019 160,141 (2.96) 151,438 5.75

OPERATING EXPENSES 414,747 412,813 0.47 416,484 0.88

DEFICIT BEFORE SUBSIDIES (249,728) (252,672) (1.18) (265,046) 4.67

OPERATING SUBSIDIES 249,728 252,848 1.25 263,921 (4.20)

SURPLUS/(DEFICIT) AFTER SUBSIDIES 176 (1,125)

Unrealized Investment Gain/(Loss) (138) --

SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ 38 $ (1,125)

TOTAL VEHICLE MILES 31,402 31,735 1.06 30,892 2.73

SHARED RIDE PROGRAM IN ABOVE 2,876 2,886 0.35 2,734 5.56

REVENUE PASSENGER JOURNEYS 93,795 92,818 (1.04) 93,579 (0.81)

SHARED RIDE PROGRAM IN ABOVE 366 388 6.01 372 4.30

$

$

LAST YEAR AMOUNT

20,718 30

1,464 22,212

~ 23,517

49,276 10,164 3,538 1,440

191 2,666

~ 68,307

(44,790)

2,204 35,011

5,251 2,368

119 44,953

163

163

Page 2.2 1/10/2014

$

$

THIS YEAR ACTUAL BETTER (WORSE) LAST YEAR AMOUNT %

1,852 8.94 264 (17) (1.16)

2,099 9.45 3 0.23

2,102 8.94

(548) (1.11) 127 1.25 948 26.79 (22) (1.53) 63 32.98

132 4.95 (4) (0.39)

696 1.02

2,798 6.25

(440) (19.96) (1,794) (5.12)

(268) (5.10) 126 5.32 (11) (9.24)

(2,387) (5.31)

411

~

402.


DETAIL INCOME STATEMENT ONE MONTH ENDED DECEMBER 28, 2013

(THOUSANDS)

THIS YEAR THIS YEAR ACTUAL BUDGET ACTUAL BETTER(WORSE)BUDGET AMOUNT AMOUNT AMOUNT %

OPERATING REVENUES Passenger Revenue $ 22,689 $ 22,570 $ (119) (0.52) Investment Income 35 294 259 Other Income 1,368 1,447 79 5.77

SUB-TOTAL 24,092 24,311 219 0.91 Shared Ride Program 1,350 1,308 (42) (3.11)

TOTAL REVENUE AVAILABLE FOR OPERATIONS 25,442 ~619 177 0.70

OPERATING EXPENSES Labor & Fringe Benefits 50,009 49,824 185 0.37 Material & Services 9,665 10,037 (372) (3.85) Injuries & Damages 2,590 2,590 Propulsion Power 1,483 1,462 21 1.42 Fixed Rent 176 128 48 27.27 Fuel 2,794 2,534 260 9.31 Depreciation 1,043 1,036 7 0.67

TOTAL OPERATING EXPENSES 67,760 ___§1611 149 0.22

DEFICIT BEFORE SUBSIDIES (42,318) _(41,992) 326 0.77

OPERATING SUBSIDIES Federal 1,758 1,764 6 0.34 State 33,004 33,217 213 0.65 Local 4,949 4,983 34 0.69 Lease CosUDebt Service 2,494 2,494 Other - Route Guarantees 113 108 (5) (4.42)

TOTAL OPERATING SUBSIDIES 42,318 42,566 248 0.59

SURPLUS/(DEFICIT) AFTER SUBSIDIES 574 574

Unrealized Investment Gain/(Loss) (9) (9)

SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ 565 $ 565

$

$

LAST YEAR AMOUNT

133,110 396

8,919 142,425

9,013 151,438

297,094 62,725 22,989

7,587 900

19,033 6,156

416,484

(265,046)

12,931 205,488

30,823 13,803

876 263,921

(1,125)

(1,125)

Page 2.3 1/10/2014

$

$


8,347 6.27 69 17.42

(84) (0.94) 8,332 5.85

371 4.12 8,703 5.75

(1,579) (0.53) (1,981) (3.16) 6,145 26.73

81 1.07 (96) (10.67)

1,142 6.00 (41) (0.67)

3,671 0.88

12,374 4.67

(37) (0.29) (9,496) (4.62) (1,424) (4.62)

122 0.88 (238) (27.17)

(11,073) (4.20)

1,301

(138)

1,163


DETAIL INCOME STATEMENT SIX MONTHS ENDED DECEMBER 28, 2013

(THOUSANDS)

THIS YEAR THIS YEAR ACTUAL BUDGET ACTUAL BETTER (WORSE) BUDGET AMOUNT AMOUNT AMOUNT %

OPERATING REVENUES Passenger Revenue $ 147,001 $ 141,457 $ (5,544) (3.77) Investment Income 209 465 256 Other Income 8,772 8,835 63 0.72

SUB-TOTAL 155,982 150,757 (5,225) (3.35) Shared Ride Program 9,037 9,384 347 3.84

TOTAL REVENUE AVAILABLE FOR OPERATIONS 165,019 160,141 (4,878) (2.96)

OPERATING EXPENSES Labor & Fringe Benefits 303,927 298,673 5,254 1.73 Material & Services 60,526 64,706 (4,180) (6.91) Injuries & Damages 16,844 16,844 Propulsion Power 7,649 7,506 143 1.87 Fixed Rent 1,016 996 20 1.97 Fuel 18,526 17,891 635 3.43 Depreciation 6,259 6,197 62 0.99

TOTAL OPERATING EXPENSES 414,747 412,813 1,934 0.47

DEFICIT BEFORE SUBSIDIES (249,728) (252,672) (2,944) (1.18)

OPERATING SUBSIDIES Federal 12,723 12,894 171 1.34 State 193,396 195,992 2,596 1.34 Local 29,009 29,399 390 1.34 Lease Cost/Debt Service 13,925 13,925 Other - Route Guarantees 675 638 (37) (5.48)

TOTAL OPERATING SUBSIDIES 249,728 252,848 3,120 1.25





GROUP 3 - VICTORY DIVISION


BUDGET

AMOUNT ---

$ 1,712

$

144

1,856

7,308

(5,452)

5,452

861

1,042

Page 3.1 1/10/2014


SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY VICTORY DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED DECEMBER 28 2013

(THOUSANDS)

THIS YEAR LAST YEAR

ACTUAL

AMOUNT

$ 1,740

170 --1,910

7,747

(5,837)

5,918

81

$ 81

869

1,026

ACTUAL

BETTER/

(WORSE)

BUDGET%

1.64

18.06

2.91

(6.01)

(7.06)

8.55

0.93

(1.54)

ACTUAL

AMOUNT

$ 1,690

174

1,864

7,281

(5,417)

5,440

23

$ 23

846

1,063

ACTUAL

BETTER/

(WORSE)

LAST YEAR%

2.96

(2.30)

2.47

(640)

(7.75)

8.79

OPERATING REVENUES

Passenger Revenue

Other Operating Revenue


OPERATING EXPENSES


OPERATING SUBSIDIES

SURPLUS/(DEFICIT) AFTER SUBSIDIES

Unrealized Investment Gain/(Loss)

SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS)

2.72 TOTAL VEHICLE MILES

(3.48) REVENUE PASSENGER JOURNEYS

BUDGET

AMOUNT

$ 11,276

1,013

12,289

45,080

(32,791)

32,791

$

5,621

6,944


THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/


AMOUNT BUDGET% AMOUNT LAST YEAR% -- ---$ 11,255 (0.19) $ 10,772 4.48

1,131 11.65 1,024 10.45

12,386 0.79 11,796 5.00

46,473 (3.09) 45,376 (2.42)

(34,087) (3.95) (33,580) (1 51)

34,112 4.03 33,429 2.04

25 (151)

(14) --

$ 11 $ (151)

5,683 1.10 5,447 4.33

6,891 (0.76) 6,970 (1.13)

$

$

LAST YEAR AMOUNT

1,690 2

172 1,864

5,253 1,135

331 162

9 376

15 7,281

(5,417)

282 4,477

672 9

5,440

23

23

Page 3.2 1/10/2014

$

$


50 2.96

-(4) (2.33) 46 2.47

(265) (5.04) (283) (24.93)

72 21.75 26 16.05

1 11.11 (16) (4.26)

(1 l (6.67) (466) (6.40)

(420) (7.75)

(19) (6.74) 431 9.63

64 9.52 2 22.22

478 8.79

58

58



(THOUSANDS)


OPERATING REVENUES Passenger Revenue $ 1,712 $ 1,740 $ 28 1.64 Investment Income 1 2 Other Income 143 168 25 17.48

TOTAL REVENUE AVAILABLE FOR OPERATIONS __ 1,856 1,910 54 2.91

OPERATING EXPENSES Labor & Fringe Benefits 5,152 5,518 (366) (7.10) Material & Services 1,320 1,418 (98) (7.42) Injuries & Damages 259 259 Propulsion Power 141 136 5 3.55 Fixed Rent 9 8 1 11.11 Fuel 411 392 19 4 62 Depreciation 16 16

TOTAL OPERATING EXPENSES 7,308 7,747 (439) (6.01)

DEFICIT BEFORE SUBSIDIES (5,452) (5,837) (385) (7.06)

OPERATING SUBSIDIES Federal 240 263 23 9.58 State 4,522 4,908 386 8.54 Local 679 736 57 8.39 Lease Cost/Debt Service 11 11 Other - Route Guarantees

TOTAL OPERATING SUBSIDIES 5,452 __ 5,918 466 8.55




$

$

LAST YEAR AMOUNT

10,772 16

1,008 11,796

31,428 8,233 2, 152

740 47

2,686 90

45,376

(33,580)

1,731 27,513

4,127 58

33,429

ill.!l

(151)

Page 3.3 1/10/2014

$

$


483 4.48 -

107 10.62 590 5.00

(1,312) (4.17) (323) (3.92) 465 21.61

68 9.19 (6) (12.77) 14 0.52 (3) (3.33)

(1.097) (2.42)

(507) (1.51)

111 6.41 492 1.79

74 1.79 6 10.34

683 2.04

176

(14)

__ 162



(THOUSANDS)


OPERATING REVENUES Passenger Revenue $ 11,276 $ 11,255 $ (21) (0.19) Investment Income 9 16 7 77.78 Other Income 1,004 1, 115 111 11.06

TOTAL REVENUE AVAILABLE FOR OPERATIONS 12,289 12,386 97 0.79

OPERATING EXPENSES Labor & Fringe Benefits 31,571 32,740 (1,169) (3.70) Material & Services 8,323 8,556 (233) (2.80) Injuries & Damages 1,687 1,687 Propulsion Power 681 672 9 1.32 Fixed Rent 58 53 5 8.62 Fuel 2,662 2,672 (10) (0.38) Depreciation 98 93 5 5.10

TOTAL OPERATING EXPENSES 45,080 46,473 (1,393) (3.09)

DEFICIT BEFORE SUBSIDIES (32,791) (34,087) (1,296) (3.95)

OPERATING SUBSIDIES Federal 1,771 1,842 71 4.01 State 26,918 28,005 1,087 4.04 Local 4,038 4,201 163 4.04 Lease Cost/Debt Service 64 64 Other - Route Guarantees

TOTAL OPERATING SUBSIDIES 32,791 34, 112 1,321 4.03





GROUP 4 - FRONTIER DIVISION


BUDGET AMOUNT

$

$

485 54

539

2,643 (2, 104)

2, 104

396

270

Page 4.1 1/10/2014

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY FRONTIER DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED DECEMBER 28. 2013

(THOUSANDS)


THIS YEAR LAST YEAR

ACTUAL ACTUAL BETTER/ BETTER/

ACTUAL (WORSE) ACTUAL (WORSE) BUDGET

AMOUNT BUDGET% AMOUNT LAST YEAR% AMOUNT OPERATING REVENUES

$ 489 0.82 $ 474 3.16 Passenger Revenue $ 3,108

58 7.41 62 (6.45) Other Operating Revenue 326

547 1.48 536 2.05 TOTAL REVENUE AVAILABLE FOR OPERATIONS 3,434

2,720 (2.91) 2,571 (5 80) OPERATING EXPENSES 16,663

(2, 173) (3.28) (2,035) (6.78) DEFICIT BEFORE SUBSIDIES (13,229)

2,203 4.71 2,043 7.83 OPERATING SUBSIDIES 13,229

30 8 SURPLUS/(DEFICIT) AFTER SUBSIDIES


$ 30 $ 8 SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $

410 3.54 397 3.27 TOTAL VEHICLE MILES 2,601

224 (17.04) 281 (20.28) REVENUE PASSENGER JOURNEYS 1,761


THIS YEAR LAST YEAR

ACTUAL ACTUAL BETTER/ BETTER/

ACTUAL (WORSE) ACTUAL (WORSE) AMOUNT BUDGET% AMOUNT LAST YEAR%

$ 3,265 5.05 $ 2,936 11.21 316 (3.07) 353 (10.48)

3,581 4.28 3,289 8.88

16,533 0.78 15,963 (3.57) (12,952) 2.09 (12,674) (2 19)

12,961 (2.03) 12,618 2.72

9 (56)

(5)

$ 4 $ (56)

2,691 3.46 2,575 4.50

1,713 (2.73) 1,812 (5.46)

$

$

LAST YEAR AMOUNT

474 1

61 536

1,966 209 110

3 279

4 2,571

(2,035)

103 1,630

244 3

63 2,043

8

8

Page 4.2 1/10/2014

$

$


15 3.16

(4) (6.56) 11 2.05

49 2.49 (220)

11 10.00

11 3.94

~ (5.80)

(138) (6.78)

(7) (6.80) 158 9.69

24 9.84

(15) (23.81) 160 7.83

22

22



(THOUSANDS)


OPERATING REVENUES Passenger Revenue $ 485 $ 489 $ 4 0.82 Investment Income - 1 1 Other Income 54 57 3 5.56

TOTAL REVENUE AVAILABLE FOR OPERATIONS 539 547 8 1.48

OPERATING EXPENSES Labor & Fringe Benefits 1,962 1,917 45 2.29 Material & Services 294 429 (135) (45.92) Injuries & Damages 99 99 Fixed Rent 4 3 1 25.00 Fuel 280 268 12 4.29 Depreciation 4 4

TOTAL OPERATING EXPENSES 2,643 2,720 (77) (2.91)

DEFICIT BEFORE SUBSIDIES (2,104) (2,173) (69) (3.28)

OPERATING SUBSIDIES Federal 89 96 7 7.87 State 1,708 1,788 80 4.68 Local 256 268 12 4.69 Lease Cost/Debt Service 3 3 Other - Route Guarantees 48 48

TOTAL OPERATING SUBSIDIES 2,104 2,203 99 4.71




$

$

LAST YEAR AMOUNT

2,936 5

348 3,289

12,011 1,255

711 17

1,944 25

15,963

(12,674)

638 10,135

1,520 16

309 12,618

@l.

(56)

Page 4.3 1/10/2014

$

$


329 11.21

(37) (10.63) 292 8.88

(127) (1.06) (605) (48.21)

64 9.00 (3) (17.65)

101 5.20

(570) (3.57)

(278) (2.19)

47 7.37 272 2.68

41 2.70 2 12.50

(19) (615) 343 2.72

65

(5)

60



(THOUSANDS)


OPERATING REVENUES Passenger Revenue $ 3,108 $ 3,265 $ 157 5.05 Investment Income 3 5 2 66.67 Other Income 323 311 (12) (3.72)

TOTAL REVENUE AVAILABLE FOR OPERATIONS __ 3,434 3,581 147 4.28

OPERATING EXPENSES Labor & Fringe Benefits 12,308 12, 138 170 1.38 Material & Services 1,824 1,860 (36) (1.97) Injuries & Damages 647 647 Fixed Rent 22 20 2 9.09 Fuel 1,836 1,843 (7) (0.38) Depreciation 26 25 1 3.85

TOTAL OPERATING EXPENSES 16,663 16,533 130 0.78

DEFICIT BEFORE SUBSIDIES (13,229) (12,952) 277 2.09

OPERATING SUBSIDIES Federal 699 685 (14) (2.00) State 10,627 10,407 (220) (2.07) Local 1,594 1,561 (33) (2.07) Lease Cost/Debt Service 18 18 Other - Route Guarantees 291 290 (1) (0.34)

TOTAL OPERATING SUBSIDIES 13,229 12,961 (268) (2.03)





GROUP 5 - REGIONAL RAIL DIVISION


BUDGET

AMOUNT

$

$

11,069

1,269

12,338

25,210

(12,872)

12,872

1,550

2,646

Page 5.1 1/10/2014

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY REGIONAL RAIL DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED DECEMBER 28. 2013

(THOUSANDS)


THIS YEAR LAST YEAR ---

ACTUAL ACTUAL

BETTER/ BETTER/

ACTUAL (WORSE) ACTUAL (WORSE) BUDGET

AMOUNT BUDGET% AMOUNT LAST YEAR% AMOUNT

OPERATING REVENUES

$ 11,643 5.19 $ 10,270 13.37 Passenger Revenue $ 70,516

1,009 (20.49) 979 3.06 Other Operating Revenue 7,609

12,652 2.54 11,249 12.47 TOTAL REVENUE AVAILABLE FOR OPERATIONS 78,125

24,605 2.40 24,345 (1.07) OPERATING EXPENSES 150,480

(11,953) 7.14 (13,096) 8.73 DEFICIT BEFORE SUBSIDIES (72,355)

12,052 (6.37) 13,121 (8.15) OPERATING SUBSIDIES 72,355

99 25 SURPLUS/(DEFICIT) AFTER SUBSIDIES --(2412_ Unrealized Investment Gain/(Loss)

-$ (142l, $ 25 SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $

1,544 (0.39) 1,515 1.91 TOTAL VEHICLE MILES 10,172

2,737 3.44 2,447 11.85 REVENUE PASSENGER JOURNEYS 17,376


THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/


AMOUNT BUDGET% AMOUNT LAST YEAR%

$ 73,779 4.63 $ 67,178 9.83

6,335 (16.74) 6,879 (7.91)

80, 114 2.55 74,057 8.18

148,215 1.51 146,389 (1 25)

(68,101) 5.88 (72,332) 5.85

68,131 (5.84) 72,125 (5.54)

30 (207)

(333)

$ (303) $ (207)

10,096 (0 75) 9,791 3.12

18,043 3.84 17,352 3.98

$

$

LAST YEAR AMOUNT

10,270 93

886 11,249

15,351 6,494

187 1,518

40 29

726 24,345

(13,096)

446 7,105 1,066 4,429

75

13,1~

25

25

Page 5.2 1/10/2014

$

$

THIS YEAR ACTUAL BETTER (WORSE) LAST YEAR

AMOUNT %

1,373 13.37 (42) (45.16) 72 8.13

1,403 12.47

233 1.52 (198) (3.05) (188)

8 0.53 (1) (2.50) (9) (31.03)

(105) (14.46) (260) (1.07)

1, 143 8.73

(121) (27.13) (1,061) (14.93)

(160) (15 01) 273 6.16

(1,069) (8.15)

74

(241)

(167)



(THOUSANDS)

THIS YEAR THIS YEAR ACTUAL

BUDGET ACTUAL BETTER (WORSE) BUDGET AMOUNT AMOUNT AMOUNT %

OPERATING REVENUES Passenger Revenue $ 11,069 $ 11,643 $ 574 5.19 Investment Income 47 51 4 8.51 Other Income 1,222 958 (264) (21.60)

TOTAL REVENUE AVAILABLE FOR OPERATIONS ~338 12,652 314 2.54

OPERATING EXPENSES Labor & Fringe Benefits 14,811 15, 118 (307) (2.07) Material & Services 7,412 6,692 720 9.71 Injuries & Damages 375 375 Propulsion Power 1,651 1,510 141 8.54 Fixed Rent 49 41 8 16.33 Fuel 55 38 17 30.91 Depreciation 857 831 26 3.03

TOTAL OPERATING EXPENSES 25,210 24,605 605 2.40

DEFICIT BEFORE SUBSIDIES (12,872) (11,953) 919 7.14

OPERATING SUBSIDIES Federal 361 325 (36) (9.97) State 6,723 6,044 (679) (10.10) Local 1,009 906 (103) (10.21) Lease Cost/Debt Service 4,702 4,702 Other - Route Guarantees 77 75 (2) (2.60)

TOTAL OPERATING SUBSIDIES 12,872 12,052 __ (820) (6.37)



SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (142) $ (142)

$

$

LAST YEAR AMOUNT

67, 178 442

6,437 74,057

93,673 37,540

1,202 9,076

230 311

4,357 146,389

(72,332)

2,378 37,798

5,670 25,814

465 72,125

(2072_

(207)

Page 5.3 1/10/2014

$

$


6,601 9.83 (201) (45.48) (343) (5.33)

6,057 8.18

1,452 1.55 (1,434) (3.82) (1,228)

47 0.52 (39) (16.96)

(4) (1.29) (620) (14.23)

(1,826) (1.25)

4,231 5.85

(136) (5.72) (3,715) (9.83)

(558) (9.84) 430 1.67 (15) (3.23)

(3,994) (5.54)

237

(333)

(96)



(THOUSANDS)


OPERATING REVENUES Passenger Revenue $ 70,516 $ 73,779 $ 3,263 4.63 Investment Income 279 241 (38) (13.62) Other Income 7,330 6,094 (1,236) (16.86)

TOTAL REVENUE AVAILABLE FOR OPERATIONS 78,125 80,114 1,989 2.55

OPERATING EXPENSES Labor & Fringe Benefits 91,850 92,221 (371) (0.40) Material & Services 40,910 38,974 1,936 4.73 Injuries & Damages 2,430 2,430 Propulsion Power 9,546 9,029 517 5.42 Fixed Rent 293 269 24 8.19 Fuel 357 315 42 11.76 Depreciation 5,094 4,977 117 2.30

TOTAL OPERATING EXPENSES 150,480 148,215 2,265 1.51

DEFICIT BEFORE SUBSIDIES (72,355) (68,101) 4,254 5.88

OPERATING SUBSIDIES Federal 2,470 2,242 (228) (9.23) State 37,546 34,083 (3.463) (9.22) Local 5,632 5,112 (520) (9.23) Lease Cost/Debt Service 26,244 26,244 Other - Route Guarantees 463 450 (13) (2.81)

TOTAL OPERATING SUBSIDIES 72,355 68, 131 (4,224) (5.84)



SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (303) $ (303)

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