MINUTES OF REGULAR BOARD MEETING OF SOUTHEASTERN ...Kevin L. Johnson, P. E. John I. Kane Obra S ....

MINUTES OF REGULAR BOARD MEETING OF

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY MAY 28, 2020

The Regular Meeting of the Board of the Southeastern Pennsylvania Transportation Authority was held on Thursday , May 28 , 2020 convening at 3 : 02 p.m . via teleconference, with the Chairman in the Chair .

Attending the meeting were the following Board Members :

Pasquale T . Deon , Sr ., Chairman Honorable Kenneth Lawrence , Vice Chairman Thomas E . Babcock Joseph E. Brion , Esquire Michael A . Carroll , P . E . Mark H. Dambly Robert D. Fox , Esquire Honorable Stewart J . Greenleaf Kevin L. Johnson , P . E . John I. Kane Obra S . Kernodle , IV William J . Leonard , Esquire Deborah Mahler Honorable Charles H. Martin

Present from the staff :

Leslie S . Richards - General Manager Richard G. Burnfield - Deputy General Manager/Treasurer Robert L. Lund - Deputy General Manager Gino Benedetti , Esquire - General Counsel Stephen A . Jobs - Controller Carol R. Looby - Secretary Stephanie Deiger - AGM , Employee Development Relations Kim Scott Heinle - AGM , Customer Experience & Advocacy Francis E . Kelly - AGM , Government & Public Affairs Scott A. Sauer - AGM , Operations

Mr. Deon called the Regular Meeting of the Board to order . He said the Special Meeting , which was noticed , was canceled . He then conducted a roll call and welcomed Ms . Mahler to the Board .

The Pledge of Allegiance was observed .

Mr . Deon announced that the Board met in Executive Session just prior to the meeting to discuss legal matters . He thanked the riders and residents who were in attendance at the meeting .

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Minutes of Regular Board Meeting May 28, 2020

Mr . Deon stated that SEPTA was facing unprecedented challenges due to the COVID- 19 crisis . He reported that we were seeing some positive signs as we look ahead to a recovery for our region , but we know there was still a long way to go. He mentioned that SEPTA ' s workforce has been a source of pride for all of us during this crisis and that thanks to their heroic efforts , essential travel and services have been preserved . Mr . Deon stated that we were mourning the loss of employees who have died during this pandemic . He then asked for a moment of silence in their honor .

Mr . Deon stated that there was a long and difficult recovery ahead , but noted that we were thankful for our funding partners at the federal , state and local levels for their continued support . He said funding from the federal CARES Act would play a big role as we work to maintain operations . But , he said , we know it will take additional resources to preserve the public transportation that drives our region .

Mr . Deon remarked that we were all looking forward to getting back closer to normal routines , including a time when we could once again gather at SEPTA Headquarters for these meetings . He said that until that would be possible , we will continue to conduct remote meetings to help ensure that this Authority has the resources it needs to continue providing essential service to our region.

Mr . Deon announced that there were no comments received regarding the agenda items on the Consent Calendar . He said there were also no comments , correspondence , e-mails or voice mail messages received . (Note : a voice mail message was received from 215 . 537 . 3190 , but there was static on the line . Board Secretary Looby subsequently tried to contact the caller without success . ) Mr . Deon added that feedback from the April 23rct Board meeting was posted on the Board section of the SEPTA website , along with the official April Board Meeting Transcript . He stated that the transcript from this meeting would also be posted on the website , a copy of which is attached to the Minutes as Exhibit "A". Mr . Deon then added that that comments from the recently held Operating Budget and Capital Budget hearings were could also be found on the SEPTA website .

Mr . Deon closed by saying that he greatly appreciated the thoughtful engagement and advocacy for public transportation , and he again thanked all the riders and residents who were attending the Board Meeting .

Approval of Minutes

Mr . Deon entertained a Motion regarding the Minutes of the April 23rct Regular Board meeting , which had been circulated . Vice Chairman Lawrence moved , Mr . Kane seconded , and the Minutes were

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unanimously approved .

Financial Report

Mr . Burnfield stated that the April financial results reflect the continued impact of the COVID- 19 pandemic . He reported that for the month , fare box and other revenue was $36 million below budget with ridership falling 92 percent on transit and 98 percent on the railroad for the majority of the month with shelter - in - place orders throughout the month .

Mr . Burnfield reported that expenses were $18 million under budget as both transit and regional rail service levels were reduced to serve essential trips only. He said subsides were also below budget by $8 . 3 million and for the month , there was a deficit of $26 . 2 million .

Mr . Burnfield reported that the year - to - date financial results record a deficit of $33 . 1 million and it was expected that this deficit would continue to increase for the balance of the fiscal year with Federal CARES funding to offset the deficit .

Mr . Deon entertained a Motion to adopt the Financial Report . Mr. Brion moved , Mr . Kane seconded and it was unanimously adopted .

The April Financial Report is received and filed and is attached to these Minutes as Exhibit " B."

Consent Calendar

Mr . Deon consisted of :

then presented the Consent Calendar , which

"Award of Contract Pursuant to a Request for Proposals ;"

" Reimbursement Agreement Between SEPTA and the Pennsylvania Department of Transportation Relating to the Reconstruction of JFK Boulevard in Philadelphia County ;"

"Acquisition from T . S . T . M. LLC of a Parcel of Property Located at 4901 - 03 Ridge Avenue to be Used in the Expansion and Improvement of the Wissahickon Transportation Center in Philadelphia ;"

"Authorization to Award Contracts for Various Procurements ;"

"Award of Contracts for Sole Source Procurements ;"

and

" Authorization to Execute Amendments ."

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Mr . Deon noted that Item I . A. l ., " Award of Contract Pursuant to a Request for Proposals to Easton Coach Company ," was revised and that copies of the revised Resolution were provided to the Board . Mr . Deon stated that all of the remaining i terns on the Consent Calendar were reviewed by the appropriate Board Committees in public session .

Mr . Deon then entertained a Motion to adopt the Resolutions . Mr . Babcock moved , Mr . Carroll seconded and the Resolutions were unanimously adopted .

Report of General Manager

Ms . Richards stated that when she had addressed the Board on April 2Jrd , we were deep into the pandemic and SEPTA was really struggling with so many employees out sick . She mentioned that the Authority had lost seven members of the SEPTA family over two months : Ted Nixon and Michael Holt , both mechanics ; Phil Williams , a fue l er ; Yolanda Woodberry and Terrance Burton , both bus operators ; and conductors Michael Hill and Steve McFadden , who all died from complications related to COVID-19 .

Ms . Richards stated that we have come a long way since April 23rd . She noted that service was restored to a spring schedule and 150 of our 284 employees , who were out sick , were now healthy and have returned to work . She remarked that the SEPTA team has conquered daunting challenges every day , but added that we were in a place where we are planning for the future . She explained that from the front lines to the General Manager ' s team , SEPTA has seized this crisis to think boldly , prioritizing people in a much more intentional way as well as changing how we communicate with employees and customers .

Ms . Richards stated that staff has emphasized equity in our fare proposal and how we have conducted our virtual budget hearings , which concluded the day before this meeting . She said she was proud to say that for the first time we welcomed comments by phone and email in three different languages , ensuring greater inclusivity than ever before .

Ms . Richards mentioned that staff was innovative in order to keep our employees safe by engineering bus and trolley shields to separate operators from unnecessary exposure . She added that they also have collaborated with our industry peers and partners to test and evaluate sanitizing technology . Ms . Richards announced that we would be imp l ementing temperature testing to ensure employees were healthy and giving them confidence in the safety of their workplace .

Ms . Richards said that in looking to the future , SEPTA would be reevaluating every aspect of our business to help lead the region ' s recovery . She said we were anticipating changes in

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customer needs and behavior as everyone eases back to work , while identifying opportunities for continued improvement and innovation . Ms . Richards stated that SEPTA would open back up in steps over the next few months and that we would meet the needs of our employees , riders , and the region no matter what the future would bring . She said we want our customers to feel comfortable every time they make the decision to ride SEPTA and for them to know that cleanliness and safety were their big concerns . She said we want riders to know they could expect safe and clean vehicles and stations , with healthy bus operators and train crews who use the appropriate PPE . Ms . Richards also said customers should expect service on a frequent schedule that would allow for social distancing and for them to know that we expect riders to wear facial coverings . She stated that we understand we need to work to build the trust of the public and restore their confidence that they would be safe on our system .

Ms . Richards closed by thanking all her SEPTA colleagues and stated that she was fortunate to have inherited an incredibly talented and committed team who were truly doing amazing work .

Chairman Deon then thanked the Board for being a great resource and the senior managers and employees who have stepped up to the challenge during this time .

Adjournment

There being no further business to come before the Board at this Regular Meeting , it was moved by Mr . Brion , seconded by Mr . Carroll , and unanimously adopted that the meeting be adjourned at 3 : 13 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

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EXHIBIT "A"

VERITEXT ~LEGAL SOLUTIONS

Deposition of:

Board Meeting

May 28, 2020

In the Matter of:

SEPTA- Board Meeting

Veritext Legal Solutions 888.777.6690 I [email protected] I 215-241-1000

1 SOUTHEASTERN PENNSYLVANIA TRANSPOR T AT I ON

2 AUTHORITY

3 REGU L AR MONTHLY BOARD MEE TIN G

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9 May 28 , 2020

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1 5 3 : 02 P . M .

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20 Via Telep h o n e

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Yeritext Legal Solutions 215-241-1000 - 610-434-8588 - 302-571-0510 - 202-803-8830

1 A P P E A R A N C E S 2

3 ATTENDANCE OF BOARD MEMBERS 4 Pasquale T . Deon , Chairman

Kenneth Lawrence , Vice Chairman 5 Thomas E . Babcock

Joseph E . Brion , Esquire 6 Michael A . Carroll , P . E .

Mark H . Dambly 7 Robert D . Fox , Esquire

Honorable Stewart J . Greenleaf 8 Kevin L . Johnson , P . E .

John I . Kane 9 Obra S . Kernodle , IV

William J . Leonard , Esquire 10 Deborah Mahler

11 12 13

14

Honorable Charles H . Martin

ATTENDANCE OF STAFF MEMBERS :

Leslie S . Richards , General Manager

Page 2

15 Richard G . Burnfield , Deputy General Manager I Treasurer

16 Robert L . Lund , Deputy General Manager Gino Benedetti , Esquire - General Counsel

17 Carol R . Looby , Board Secretary Stephen A . Jobs , Controller

18 Scott A . Sauer , AGM , Operations Francis E . Kelly , AGM , Government & Public

19 Affairs

20

21 22 23 24

Stephanie Relations Kim Scott Advocacy

Deiger , AGM , Employee Development

Heinle , AGM , Customer Experience

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1 CHAIRMAN DEON : Welcome

2 everybody . Thank you .

3 The Regular Meeting of the Board

4 will now come to order . The Special

5 Meeting which was noticed has been

6 canceled .

7 Let me go over the attendance of

8 the Board members on the phone :

9 Vice Chairman Ken Lawrence?

10 VICE CHAIRMAN LAWRENCE : Here .

11 CHAIRMAN DEON : Tom Babcock?

12 MR . BABCOCK : Here .

13 CHAIRMAN DEON : Skip Brion?

14 MR . BRION : Here .

15 CHAIRMAN DEON : Mike Carroll?

16 MR . CARROLL : Present .

17 CHAIRMAN DEON : Mark Dambly?

18 MR . DAMBLY : Here .

19 CHAIRMAN DEON : Robb Fox?

20 MR . FOX : Here .

21 CHAIRMAN DEON : Senator

22 Greenleaf?

23 SENATOR GREENLEAF : Here .

24 CHAIRMAN DEON : Kevin Johnson?

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1 MR . JOHNSON : Here .

2 CHAIRMAN DEON : John Kane?

3 MR . KANE : Here .

4 CHAIRMAN DEON : Obra Kernodle?

5 MR . KERNODLE , IV : Here .

6 CHAIRMAN DEON : Bill Leonard?

7 MR . LEONARD : Here .

8 CHAIRMAN DEON : Charlie Martin?

9 MR . MARTIN : Yes .

10 CHAIRMAN DEON : And I would like

11 to welcome our newest Board member ,

12 Debbie Mahler , from the Governor ' s --

13 almost Governor - - from the Mayor ' s

14 I Office . Welcome Debbie to the Board .

15 MS . MAHLER : Thank you .

16 CHAIRMAN DEON : Representative

17 Toepel -- she is going to be in

18 Harrisburg voting today , so I just read

19 that little note here .

20 We ' ll start off with the Pledge

21 of Allegiance .

22 Pledge of Allegiance

23 CHAIRMAN DEON : Thank you ,

24 everybody . The Board met in executive

Veritext Lega l Solutions 215-241-1000 - 610-434-8588 - 302-571-0510 - 202-803-8830

1 session just prior to this meeting to

2 discuss legal matters . I would like to

3 thank. the riders and other residents who

4 are attending today ' s meeting .

5 I SEPTA is facing unprecedented

6 challenges due to the COVID-19 crisis .

7 We are seeing some positive signs as we

8 look ahead to recovery for our region ,

9 but we know there is still a long way to

10 go .

11 SEPTA ' s workforce has been a

12 source of pride for all of us during this

13 I crisis . Thanks to their heroic efforts ,

14 essential travel and services have been

15 preserved .

16 As many of you know , we are

17 mourning the loss of employees who have

18 died during the pandemic . I would like

19 to ask. everyone for a moment of silence

20 in their honor .

21 (Whereupon , a moment of silence

22 was observed . )

23 CHAIRMAN DEON : Thank. you . We

24 have a long and difficult recovery ahead


I

Page 6

1 of us . We are thankful for our funding

2 partners at the federal , state and local

3 levels for their continued support .

4 Funding from the Federal CARES

5 Act will play a big role as we work to

6 I maintain operations , but we know it is

7 going to take additional resources to

8 preserve the public transportation that

9 drives our region .

10 We are looking forward to

11 getting back closer to the normal

12 routine , including a time when we can

13 once again gather at SEPTA headquarters

14 in these meetings .

15 Until this is possible , we will

16 continue to conduct remote meetings to

17 help ensure that this Authority has the

18 resources it needs to continue providing

19 essential service for the region .

20 Please note there are no

21 comments received regarding Agenda items

22 today on the Consent Calendar . There

23 were no comments , correspondence , e-mails

24 or voice messages received this month .


1 (Whereupon , an attempt was made

2 to leave a message by a caller from

3 215 - 537 - 3190 , but there was static on the

4 line .

5 The Board Secretary subsequently

6 tried to contact the caller without

7 success . )

8 Feedback from the April 23rd

9 Board Meeting has already been posted on

10 the Board section of the SEPTA website

11 for public review , along with the

12 official April Board Meeting Transcript .

13 The transcript of today ' s meeting will

14 also be posted on the website along with

15 comments from the recently held Operating

16 Budget and Capital Budget Hearings .

17 We greatly appreciate your

18 thoughtful engagement and advocacy for

19 public transportation , and I would like

20 to again thank all the riders and other

21 residents who are attending today ' s

22 meeting .

23 First item on the Agenda is the

24 approval of the minutes of Apr i l 23rd

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1 Regular Board Meeting . I ' ll entertain a

2 motion .

3 VICE CHAIRMAN LAWRENCE : So

4 moved . Ken Lawrence , I ' 11 make the

5 motion .

6 MR . KANE : Second .

7 CHAIRMAN DEON : Moved and

8 second . Any comments or correction?

9 NO RESPONSE

10 CHAIRMAN DEON : I ' ll call the

11 question . All in favor say , " aye ."

12 ALL: Aye .

13 CHAIRMAN DEON : Opposed .

14 NO RESPONSE

15 CHAIRMAN DEON : Hearing none ,

16 the minutes are approved .

17 The Financial Report , Rich , can

18 you give us the Financial Report?

19 MR . BURNFIELD : Thank you , Mr .

20 Chairman .

21 The April Financial results

22 reflects the continued impact of the

23 COVID - 19 pandemic . For the month , fare

24 box and other revenue was $36 million

Veritext Legal Solutions 215-241-1000 ~ 610-434-8588 ~ 302-571-0510 ~ 202-803-8830

1 below budget , with ridership falling 92

2 percent on transit , and 98 percent on the

3 railroad , with the majority of the

4 month ' s shelter - in - place orders

5 throughout the month . Expenses were $18

6 million under budget as both transit and

7 regional rail service levels were reduced

8 to serve essential trips only . Subsidies

9 were also below budget by $8 . 3 million .

10 For the month , there was a deficit of

11 $26 . 2 million . The year - to - date

12 financial results record a deficit of

13 $33 . 1 million . It is expected that this

14 deficit will continue to increase for the

15 balance of the fiscal year with Federal

16 CARES funding to offset the deficit .

17 That concludes my report , Mr .

18 Chairman .

19 CHAIRMAN DEON : Thank you , Rich .

20 I ' ll entertain a motion for the Financial

21 Report be received and filed .

22 MR . BRION : So moved .

23 MR . KANE : Second .


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1 second . Any comments?

2 NO RESPONSE

3 I CHAIRMAN DEON : Hearing none ,

4 I ' ll call the question . All in favor

5 say , " aye ."

6 ALL : Aye .

7 CHAIRMAN DEON : Opposed?

8 I NO RESPONSE


10 the April Financial Report is received

11 and filed .

12 Moving on to the Consent

13 Calendar which consits of :

14 " Award of Contract Pursuant to a

15 Request for Proposals ;"

16 " Reimbursement Agreement Between

17 SEPTA and Transportation Relating to the

18 Reconstruction of JFK Boulevard in

19 Philadelphia County ;"

20 " Acquisition from T . S . T . M., LLC

21 of a Parcel of Property located at

22 4901 - 03 Ridge Avenue , to be used in the

23 expansion and improvement of the

24 Wissahickon Transportation Center in


1 Philadelphia ;"

2 " Authorization to Award

3 Contracts for Various Procurements ;"

4 " Award of Contracts for Sole

5 Source Procurements ;"

6 " Authorization to Execute

7 Amendments. "

8 Please note that Item I.A.1,

9 " Award of Contract Pursuant to a Request

10 for Proposals to Easton Coach Company ,"

11 has been revised . Copies of the revised

12 Resolution have been provided to the

13 Board .

14 The remaining items on the

15 Consent Calendar have been reviewed by

16 the appropriate Board Committees in the

17 public session .

18 I ' ll entertain a Motion to Adopt

19 these Resolutions .

20 MR . BABCOCK : Moved .

21 MR . CARROLL : Second .


23 second.

24 Any abstentions?


1 NO RESPONSE

2 CHAIRMAN DEON : Hearing no

3 further discussions , I ' ll call the

4 question . All in favor say , " aye ."

5 ALL : Aye .

6 CHAIRMAN DEON : Opposed?

7 NO RESPONSE


9 the Resolutions are adopted .

10 Moving on to the report of the

11 General Manager , Richards . Ms . Richards?

12 GENERAL MANAGER RICHARDS : Yes .

13 Thank you , Chairman Deon .

14 When I addressed the Board , this

15 Board on April 23rd we were deep into

16 this pandemic and SEPTA was really

17 struggling with so many employees out

18 sick . As Chairman Deon already

19 mentioned , we lost seven members of our

20 SEPTA family over two months : Ted Nixon

21 and Michael Holt , both mechanics ; Phil

22 Williams , a fueler ; Yolanda Woodbury and

23 Terrence Burton , both bus operators ; and

24 conductors : Michael Hill and Steve

Veritext Legal Solutions 215-24 1-1000 - 610-434-8588 - 302-571-0510 - 202-803-8830

1 McFadden . They all died from

2 complications related to COVID-19 .

3 We have come a long way since

4 April 23rd . We have restored service for

5 the spring schedules ; 150 of our 284

6 employees who were out sick are now

7 healthy and have returned to work . This

8 SEPTA team concurs daunting challenges

9 every day , but we ' re also in a place

10 where we are planning for the future .

11 From the front lines to the GM team ,

12 SEPTA has seized this crisis to think

13 boldly , prioritizing people in a much

14 more intentional way. We have changed

15 how we communicate with employees as well

16 as our customers . We have emphasized

17 equity in our fare proposal , and how we

18 conducted our virtual budget hearing

19 which concluded yesterday . I ' m proud to

20 say that for the first time we welcomed

21 comments by phone and e - mail in three

22 different languages , ensuring greater

2 3 I inclusivity than ever before . We have

24 innovated to keep our employees safe ,

Veritext Legal Solutions

215-241-1000 - 610-434-8588 - 302-571-0510 - 202-803-8830

1 engineering bus and trolley shields to

2 separate operators from unnecessary

3 exposure . We have collaborated -- been

4 collaborating with our industry peers and

5 partners to test and evaluate sanitizing

6 technology . We ' re implementing

7 temperature testing to ensure employees

8 are healthy , and give them the confidence

9 in safety of their workplace .

10 Looking to the future , SEPTA is

11 reevaluating every aspect of our

12 business , to help lead the region ' s

13 recovery . We are anticipating changes in

14 customer needs and behavior as everyone

15 eases back to work . Identifying

16 opportunities for continued improvement

17 and innovation .

18 SEPTA will open back up in steps

19 over the next few months , and we will

20 meet the needs of our employees , riders

21 and the region , no matter what the future

22 brings .

23 We want our customers to feel

24 comfortable every time they make the

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decision to ride SEPTA . And we know that

cleanliness and safety are their big

concerns . We want riders to know they

can expect safe and clean vehicles and

stations . Healthy bus operators and

t rain crews who use the appropriate PPE

all the time . They should expect service

on a frequent schedule that al l ows for

social distancing , and know that we

expect riders to wear facial cove r ing .

We unde r stand we need to build the trust

of the publ i c and restore the ir

confidence that they are safe in our

system .

To close , I want to thank all of

my SEPTA colleagues . I am fo r tunate to

h ave inherited an incredibly ta l ented a n d

co mmitted team . They exceed my

expectations and have risen to the

occasion every single time . They are

doing tr u ly amazing work .

Thank you .

CHAIRMAN DEON : Great . Than ks ,

Leslie . And let me top o ff wit h, you


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Page 16 l know , I ' d like to thank the Board because

this Board is a great resource , you know ,

for myself especially , and every one of

the senior managers in the different

aspects of what we need , and a l so again ,

point out that we do have , I think one of

t h e premier organizations in the country ,

on how we ' re progressing with this thing ,

and with the spectacu l a r employees that

we have down there at S E PTA , I think i t ' s

a ha r d r un , but I think they have stepped

up to the chal l enge .

So without any further ado , do I

hear a motion to adjourn?

MR . BRION : So moved .

CHAIRMAN DEON : Second?

MR . CARROLL : Second .

CHAIRMAN DEON : There we go .

Thank you , guys . Stay safe . I' m sure

we 'l l be ta l k i ng soon .

(Deposition concluded at 3 :1 3 p . m . )


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C E R T I F I C A T E

Page 17

3 COMMONWEALTH OF PENNSYLVANIA :

4 COUNTY OF PHILADELPHIA :

5

I do hereby certify that I am a Notary

6 Public in good standing , that the aforesaid

meeting was taken by me , pursuant to notice ,

7 via telephone ; that the information presented

was correctly recorded in machine shorthand by

8 me and thereafter transcribed under my

supervision with computer - aided transcription .

9

WITNESS my hand and official seal this

10 4t-h rlriv nf ,T11nP. ?n?n .

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Paulette Cox , Court Reporter

Notary Public


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i --& --- ado 16:13 ----~--- -----1----------1 I adopt 11 :18 & 2:18,20

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2 agenda 6:21 7:23 >-----------<

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4 approved 8: 16 4901-03 10:22 april 7:8,12,24 4th 1 7: 10 8: 21 10: 10 12: 15

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1----------1 aspects 16:5 1-----8-----1 attempt 7: 1

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balance 9: 15 behavior 14: 14 benedetti 2:16 big 6:5 15:2 bill 4:6 board 1 :3 2:3 , 17

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boldly 13: 13 boulevard 10: 18 box 8:24 brings 14:22 brion 2:5 3:13,14

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challenge 16: 12 challenges 5:6

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acquisition 10:20 award 10:14 11:2 call 8:10 10:4 12:3 act 6:5 11 :4,9 caller 7:2,6 additional 6:7 aye 8:11 ,12 10:5,6 canceled 3:6 addressed 12: 14 12:4,5 capital 7: 16 adjourn 16:14 cares 6:4 9:16


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committed 15: 18 committees 11: 16 commonwealth

17:3 communicate

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I c~mpany 11:10 -complications

13:2 computer 17:8 concerns 15 :3 concluded 13: 19

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215-241-1000 ~ 610-434-8588 - 302-571-0510 ~ 202-803-8830

[secretary - yolanda]

secretary 2: 17 7:5 section 7: 10 seeing 5:7 seized 13: 12 senator 3:21,23 senior 16:4 separate 14:2 septa 5:56:137:10

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215-241-1000 ~ 610-434-8588 ~ 302-571-0510 ~ 202-803-8830

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY

FINANCIAL REPORT

APRIL 2020

For Period Ended April 25, 2020

May 15, 2020 m >< :r: -llJ =i t:q

FINANCIAL REPORT - APRIL 2020

COMMENTARY

Summary of Financial Results and Commentary

GROUP 1 - CONSOLIDATED OPERATIONS

(l . l) Consolidating Statement of Income - (YTD) (1.2) Consolidating Statement of Revenue and Expense - (YTD) (1 .3) Consolidating Statement oflncome - (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

(3 .1) Comparative Statement of Income (3 .2) Detail Income Statement - (One Month) (3.3) Detail Income Statement - (YTD)

GROUP 4 - FRONTIER DIVISION

( 4.1) Comparative Statement of Income (4.2) Detail Income Statement - (One Month) ( 4.3) Detail Income Statement - (YTD)

GROUP 5 - REGIONAL RAIL DIVISION

(5 .1) Comparative Statement of Income (5.2) Detail Income Statement - (One Month) (5.3) Detail Income Statement - (YTD)


COMMENTARY

Summary of Financial Results and Commentary

SUMMARY

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY APRIL 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 April and the ten-month period then ended . The results are compared to the Fiscal Year 2020

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

(IN THOUSANDS) TEN MONTHS

DIVISION MONTH OF APRIL ENDED APRIL 2020 2019 2020 2019

City Transit $ (56 ,905) $ (43,258) $ (514,002) $ (4 78 ,886)

Victory (6,078) (5,829) (64,316) (61 ,923)

Frontier (2,160) (2,047) (23,904) (22,827)

Regional Rail (25,929) (14,437) (203,430) (173,606)

Total Deficit Before Subsidies (91,072) (65,571) (805,652) (737,242)

Operating Subsidies 64,803 62 ,694 772,546 741 ,283

Surplus/(Deficit) After Subsidies (26,269) (2,877) (33, 106) 4,041

Unrealized Investment Gain/(Loss) 5 (345} 1,237 320 Surplus/(Deficit) after Investment Gain/(Loss) $ (26,264) $ (3,222) $ (31,869) $ 4,361

The deficit after subsidies for the month of April was $26.3 million and the cumulative deficit for the ten months was

$33 .1 million. Passenger revenue for the month was $33.0 million (or 88.2%) lower than budget. Passenger revenue for the

ten months of Fiscal 2020 was $50.3 million (or 13.1 %) lower than budget. Shared Ride Program revenue was $1 million

lower than budget for the month of April and was $1 .1 million (or 8.6%) lower than budget for April year-to-date . Operating

expenses for the month of April were $18.0 million lower than budget. For the ten-month period, operating expenses were

$24 .6 million (or 2.0%) lower than budget. State and local subsidies show a variance of $8.7 million for April and $12 .7

- 1 -


million year-to date . On March 27 , 2020, the U.S. Congress passed and the President signed into law the Coronavirus Aid ,

Relief, and Economic Security (CARES) Act. The CARES Act provides emergency assistance and health care response

for individuals , families and businesses affected by the COVID-19 pandemic. The Authority is eligible to receive $644 million

in CARES Act funding , a portion of which will offset a reduction in state and local subsidies from the Service Stabilization

Fund when such CARES funding is made available

DIVISIONAL COMMENTARY ON APRIL AND YEAR-TO-DATE RESULTS

CITY TRANSIT DIVISION

The Division's operations for April resulted in a deficit before subsidies of $56.9 million for the month and a year-to-

date deficit before subsidies of $514.0 million, which is (1 .1 %) higher than budget.

Passenger revenue for the month of April was $20.2 million (or 87.5%) lower than budget, and for the ten months of

Fiscal 2020 was $34.8 million (or 14.5%) lower than budget. Shared Ride Program revenue for April year-to-date was $1.1

million (or 8.6%) lower than budget. Operating expenses for the ten-month period were lower than budget.

For the ten months of the fiscal year, the operating deficit after subsidies was $22.4 million .

VICTORY DIVISION

The Division's operations for April resulted in a deficit before subsidies of $6 .1 million bringing the cumulative deficit

before subsidies for the ten months of the fiscal year to $64.3 million, which is 1.8% higher than budget.

Passenger revenue for April was $1.8 million (or 86 .6%) lower than budget, and for the ten months of Fiscal 2020 was

$2 .5 million (or 11 .8%) lower than budget. Operating expenses for the ten-month period were lower than budget.

For the ten months of the fiscal year, the operating deficit after subsidies was $2.9 million.

- 2 -

FRONTIER DIVISION


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

before subsidies for the ten months of the fiscal year to $23.9 million, which is 2.6% higher than budget.

Passenger revenue for April was $455 thousand (or 88.4%) lower than budget, and for the ten months of Fiscal 2020

was $803 thousand (or 14.7%) lower than budget. Operating expenses for the ten-month period were lower than budget.


REGIONAL RAIL DIVISION

Operations for the month of April resulted in a deficit before subsidies of $25.9 million bringing the cumulative deficit

before subsidies for the ten-month period to $203.4 million, which is 11.2% higher than budget.

April passenger revenue was $10.6 million (or 90.0%) lower than budget, and for the ten months of Fiscal 2020

passenger revenue was $12.2 million (or 10.3%) lower than budget. Operating expenses for the ten-month period were

higher than budget.


- 3 -


GROUP 1 - CONSOLIDATED OPERATIONS

(1 .1) Consolidating Statement oflncome - (YTD) ( 1.2) Consolidating Statement of Revenue and Expense - (YTD) (1.3) Consolidating Statement oflncome - (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

DEFICIT AFTER SUBSIDIES

Unrealized Investment Gain/(Loss)

DEFICIT AFTER INVESTMENT GAIN/(LOSS)

Page 1.1 5/15/20

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF INCOME

TEN MONTHS ENDED APRIL 25, 2020

(THOUSANDS)

CITY REGIONAL TRANSIT VICTORY FRONTIER RAIL DIVISION DIVISION DIVISION DIVISION

s 205,303 s 18,601 s 4,667 $ 105,791 $ 20 ,894 2,509 709 11,649

226, 197 21,110 5,376 117,440 11,918

238,115 21,110 5,376 117,440

752,117 85,426 29,280 320,870

(514,002) (64,316) (23,904) (203,430)

491,570 61 ,378 22,836 196,762

s (22,432) $ (2,938) $ p ,068) $ !6,668) $ 529 26 5 677

s (21,903) $ (2,912) $ (1,063) s (5,991) $

BUDGET VARIANCE TOTAL BUDGET SEPTA AMOUNT AMOUNT PERCENT

334,362 s 384,652 $ (50,290) (13.07) 35,761 36,701 (940) (2.56)

370,123 421 ,353 (51,230) (12.16) 11,918 13,044 (1,126) (8 .63)

382,041 434,397 (52,356) (12.05)

1,187,693 1,212,263 24,570 2.03

(805,652) (777,866) (27,786) (3.57)

772,546 777,866 (5,320) (0.68)

(33,106) $ $ (33,106)

1,237 1,237

(31,869) $ $ (31,869)

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF REVENUES AND EXPENSES


(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 $ 240,125 $ 205,303 $ 21,077 $ 18,601 $ 5,470 $ 4,667 $ 117,980 $ 105,791 $ 384,652 $ 334,362 Shared Ride Program 13,044 11,918 . 13,044 11,918 Investment Income 1,556 1,425 73 62 21 18 1,353 1,275 3,003 2,780

Other Income 19,150 19,469 2,421 2,447 746 691 11,381 10,374 33,698 32,981

TOTAL OPERATING REVENUE 273,875 238, 115 23,571 21,110 6,237 5,376 130,714 117 ,440 434,397 382,041

OPERATING EXPENSES

Labor, including Paid Absences 364,420 347,394 41,662 41,153 15,734 15,611 122,459 126,867 544,275 531 ,025

Fringe Benefits 229,011 221,871 22,318 21,751 7,545 7,777 64,922 64,365 323,796 315,764

Material & Services 132, 152 127,613 17,619 15,941 3,825 3,473 101,092 100,041 254,688 247 ,068

Injuries & Damages 14,836 13,183 735 2,401 263 503 3,782 9,318 19,616 25 ,405

Propulsion Power 10,132 8,494 1,051 975 . 13,493 12,834 24,676 22 ,303 Fixed Rent 3,302 4,936 161 203 51 65 1,821 1,874 5,335 7,078

Fuel 19,084 16,652 3,022 2,811 2,067 1,807 516 331 24 ,689 21,601

Depreciation 13,356 11,974 200 191 46 44 5,586 5,240 19, 188 17 ,449

Budget Reduction (4,000) (4,000)

TOTAL OPERATING EXPENSES 782 ,293 752,117 86,768 85,426 29,531 29,280 313,671 320,870 1,212,263 1,187,693

DEFICIT BEFORE SUBSIDIES (508,418) (514,002) (63,197) (64 ,316) (23,294) (23,904) (182,957) (203,430) (777,866) (805,652)

OPERATING SUBSIDIES

Federal 20,862 20 ,347 2,650 2,621 955 953 5,401 5,947 29,868 29 ,868

State 407' 126 389,408 52,565 51 ,011 18,943 18,543 107,148 115,746 585,782 574,708

Local 61,069 58,411 7,885 7,652 2,841 2,781 16,072 17,362 87 ,867 86 ,206

Lease CosUDebt Service 22,251 22,260 97 94 25 25 52,956 56,142 75,329 78,521

Other-Route Guarantees 1, 110 1,144 530 534 1,380 1,565 3,020 3,243

State and Local Budget Reduction (4,000) (4 ,000)

TOTAL SUBSIDIES 508,418 491 ,570 63,197 61,378 23,294 22,836 182,957 196,762 777,866 772 ,546 -

DEFICIT AFTER SUBSIDIES s $ (22,432) s s (2 ,938) s $ (1,068) s $ (6,668) s $ (33,106) Unrealized Investment Gain/(Loss) 529 26 5 677 1,237

DEFICIT AFTER INVESTMENT GAIN/( LOSS) $ $ (21,903) $ $ (2,912) $ $ (1,063) s $ (5,991) $ $ (31,869)

Page 1.2 5/15/20

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

DEFICIT AFTER SUBSIDIES


DEFICIT AFTER INVESTMENT GAIN/(LOSS)

Page 1.3 5/15/20

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF INCOME

ONE MONTH ENDED APRIL 25, 2020

(THOUSANDS)

CITY REGIONAL TRANSIT VICTORY FRONTIER RAIL DIVISION DIVISION DIVISION DIVISION

$ 2,895 $ 272 $ 60 $ 1,177 $ 1, 133 152 18 468

4,028 424 78 1,645 224

4,252 424 78 1,645

61, 157 6,502 2,238 27,574

(56,905) (6,078) (2,160) (25,929)

39, 125 3,761 1,319 20,598

$ (17,780) $ (2,317) $ (841) $ (5,331) $

(9) - 14 $ (17 ,789) $ (2,317) $ (841) $ (5,317) $

BUDGET VARIANCE TOTAL BUDGET SEPTA AMOUNT AMOUNT PERCENT

4,404 $ 37,453 s (33,049) (88.24) 1,771 3,585 (1,814) (50.60)

6,175 41,038 (34,863) (84.95) 224 1,228 (1,004) (81.76)

6,399 42,266 (35,867) (84.86)

97,471 115,452 17 ,981 15.57

(91,072) (73, 186) (17,886) (24 .44)

64,803 73,186 (8,383) (11.45)

(26,269) $ $ (26,269)

5 5

(26,264) $ $ (26,264)

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CONSOLIDATING STATEMENT OF REVENUES AND EXPENSES


(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 $ 23,139 $ 2,895 $ 2,027 272 515 $ 60 $ 11,772 s 1,177 $ 37,453 $ 4,404 Shared Ride Program 1,228 224 . 1,228 224 Investment Income 130 74 7 3 2 1 131 62 270 140

Other Income 1,930 1,059 236 149 75 17 1,074 406 3,315 1,631

TOTAL OPERATING REVENUE 26,427 4,252 __ 2_,270 424 592 78 12,977 1,645 42,266 6,399

OPERATING EXPENSES

Labor, including Paid Absences 34,339 25,962 3,946 2,939 1,499 1,092 11,428 9,059 51 ,212 39,052

Fringe Benefits 21 ,744 22,190 2,104 1,960 705 652 6,170 5,243 30,723 30 ,045

Material & Services 12,838 8,641 1,720 755 367 261 9,729 9,819 24,654 19,476

Injuries & Damages 1,379 923 68 527 24 90 381 1,907 1,852 3,447

Propulsion Power 962 760 101 84 1,321 751 2,384 1,595

Fixed Rent 289 333 13 11 4 5 174 167 480 516

Fuel 1,708 1,134 275 205 190 1;13 48 34 2,221 1,506

Depreciation 1,342 1,214 20 21 5 5 559 594 1,926 1,834

Budget Reduction

TOTAL OPERATING EXPENSES 74,601 61, 157 8,247 6,502 2,794 2,238 29,810 27,574 115,452 97 ,471

DEFICIT BEFORE SUBSIDIES (48,174) (56,905) (5,977) (6,078) (2,202) (2,160) (16,833) (25,929) (73,186) (91 ,072)

OPERATING SUBSIDIES

Federal 1,961 1,829 251 190 90 65 493 711 2,795 2,795 State 38,277 30,524 4,972 3,098 1,788 1,041 9,781 12,558 54,818 47,221 Local 5,742 4,578 746 465 268 158 1,467 1,884 8,223 7,085

Lease CosUDebt Service 2,083 2,083 8 8 3 2 4,954 5,408 7,048 7,501

Other-Route Guarantees 111 111 53 53 138 37 302 201

State and Local Budget Reduction TOTAL SUBSIDIES 48,174 39, 125 5,977 3,761 2,202 1,319 16,833 20,598 73,186 64,803

DEFICIT AFTER SUBSIDIES $ $ (17,780) $ $ (2,317) $ $ (841) $ $ (5,331) s s (26,269) Unrealized Investment Gain/( Loss) (9) 14 5

DEFICIT AFTER INVESTMENT GAIN/( LOSS) $ $ (17,789) $ $ (2,317) $ $ (841) $ s (5,317) $ $ (26,264)

Page 1.4 5/15/20


GROUP 2 - CITY TRANSIT DIVISION

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

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY CITY TRANSIT DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED APRIL 25, 2020

(THOUSANDS)


THIS YEAR

BUDGET ACTUAL

AMOUNT AMOUNT

$ 23 ,139

$

2,060 --25 ,199

1,228

26,427

74 ,601 --(48 ,174)

48 , 174

4,993

405

12 .768

44

Page 2. 1 5/15/2020

$ 2,895

1, 133

4,028

224

4,252

61 ,157

(56 ,905)

39 , 125 ---

(17 ,780)

(9 )

$(17 .789)

2,472

93

1,697

9

ACTUAL

BETTER/

(WORSE)

BUDGET % --

(87.49)

(45 00)

(84 .02 )

(8176)

(83 .91)

18.02

(18 12)

(1878)

(50.49)

(7704)

(86 .71)

(79.55)

LAST YEAR

ACTUAL

AMOUNT

$ 23 ,211

1,991

25 ,202

1,297

26,499

69 ,757

(43,258)

41 ,283

(1 ,975)

(184)

$ (2 ,159)

5,030

368

12,699

48

ACTUAL

BETTER/

(WORSE)

LAST YEAR %

OPERATING REVENUES

(87 .53) Passenger Revenue

(43 .09) Other Operating Revenue

(84 02) Sub-Total - Operating Revenue

(82 .73) Shared Ride Program

(83 95) TOTAL REVENUE AVAILABLE FOR OPERATIONS

12.33 OPERATING EXPENSES

(31 .55) DEFICIT BEFORE SUBSIDIES

(5 23) OPERATING SUBSIDIES

SURPLUS/(DEFICIT) AFTER SUBSIDIES


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

(50.85) TOTAL VEHICLE MILES

(74 .73) SHARED RIDE PROGRAM IN ABOVE

(86.64) REVENUE PASSENGER JOURNEYS

(81.25) SHARED RIDE PROGRAM IN ABOVE

BUDGET

AMOUNT

$ 240 ,125

20,706

260,831

13,044

273,875

782,293

(508,418)

508,418

$

52 ,469

4,239

132,438

484

TEN MONTHS ENDED APRIL 25 , 2020

THIS YEAR

ACTUAL

AMOUNT

$

$

205 ,303

20,894

226, 197

11,918

238 ,115

752 , 117

(514 ,002)

491 ,570

(22 ,432)

529

(21 ,903)

49,181

3,538

114,336

442

ACTUAL

BETTER/

(WORSE)

BUDGET %

(14 .50)

0.91

(13 28)

(8 .63)

(13 .06)

3.86

(1 .10)

(3 31 )

(6 .27)

(16 54)

(13 67)

(8 .68)

LAST YEAR

ACTUAL

AMOUNT

$ 236,881

$

21,464

258 ,345

13, 119

271,464

750,350

(478 ,886)

481 ,675

2,789

256

3.045

52 ,254

3,849

130,275

486

ACTUAL

BETTER/

(WORSE)

LAST YEAR %

(13 33)

(2 66)

(1244)

(9. 15)

(12 28)

(0.24)

(7 33)

2.05

(5.88)

(8 08)

(12 23)

(9 05)


CITY TRANSIT DIVISION DETAIL INCOME STATEMENT

ONE MONTH ENDED APRIL 25 2020

(THOUSANDS)

THIS YEAR ACTUAL THIS YEAR THIS YEAR ACTUAL

LAST YEAR BETTER (WORSE) LAST YEAR BUDGET ACTUAL BETTER (WORSE) BUDGET

AMOUNT AMOUNT % AMOUNT AMOUNT AMOUNT %

OPERATING REVENUES $ 23 ,211 $ (20,316) (87 53) Passenger Revenue $ 23, 139 $ 2,895 $ (20,244) (87.49)

101 (27) (26.73) Investment Income 130 74 (56) (43 .08) 1,890 (831) (43.97) Other Income 1,930 1,059 (871) (45 .13)

25 .202 (21 ,174) (84.02) SUB-TOTAL 25,199 4,028 (21,171) (84 .02) 1.297 (1,073) (82.73) Shared Ride Program 1,228 224 (1,004) (8176)

26,499 (22,247) (83.95)_ TOTAL REVENUE AVAILABLE FOR OPERATIONS 26,427 4,252 (22.175) (83 91 )

OPERATING EXPENSES 53 , 184 5,032 9.46 Labor & Fringe Benefits 56,083 48,152 7,931 14.14 11 ,844 3,203 27 .04 Material & Services 12,838 8,641 4,197 32 .69

590 (333) (56.44) Injuries & Damages 1,379 923 456 33 07 953 193 20 .25 Propulsion Power 962 760 202 21.00

320 (13) (4 .06) Fixed Rent 289 333 (44) (15 22 )

1,676 542 32 .34 Fuel 1,708 1,134 574 33 .6 1

1.190 (24) (2 .02) Depreciation 1,342 1,214 128 9. 54

Budget Reduction 69 ,757 8.600 12 .33 TOTAL OPERATING EXPENSES 74,601 61 ,157 13,444 18 02

(43.258) (13 ,647) (31 .55) DEFICIT BEFORE SUBSIDIES (48, 174) _J56,905) (8,731 ) (18 12)

OPERATING SUBSIDIES 2,076 (247) (11 .90) Federal 1,961 1,829 (132) (6.73)

31 ,873 (1 ,349) (4 .23) State 38,277 30 ,524 (7,753) (20 25 ) 4.782 (204) (4 .27) Local 5,742 4,578 (1 .164) (20 .27)

2,440 (357) (14 .63) Lease Cost/Debt Service 2,083 2,083 112 (1) (0 .89) Other - Route Guarantees 111 111

State and Local Budget Reduction 41,283 (2 , 158) (5 .23) TOTAL OPERATING SUBSIDIES 48,174 39,125 (9,049) __ (18.78)

(1.975) (15,805) SURPLUS/(DEFICIT} AFTER SUBSIDIES (17.780) (17 ,780)

(184) 175 Unrealized Investment Gain/(Loss) (9) (9)

$ (2.159) $ (15,630) SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (17,789) $ (17,789)

Page 2.2 5/15/2020


CITY TRANSIT DIVISION DETAIL INCOME STATEMENT

TEN MONTHS ENDED APRIL 25 . 2020

(THOUSANDS)

THIS YEAR ACTUAL THIS YEAR THIS YEAR ACTUAL

LAST YEAR BETTER (WORSE) LAST YEAR BUDGET ACTUAL BETTER (WORSE) BUDGET

AMOUNT AMOUNT % AMOUNT AMOUNT AMOUNT % --

OPERATING REVENUES $ 236 ,881 $ (31,578) (13 .33) Passenger Revenue $ 240, 125 $ 205,303 $ (34 ,822) (14 .50)

1,551 (126) (8 .12) Investment Income 1,556 1,425 (131) (842)

19.913 (444) (2 .23) Other Income 19,150 19,469 319 1.67

258 .345 (32 ,148) (1244) SUB-TOTAL 260,831 226,197 (34 ,634) (13 28)

13,119 (1,201) (9.15) Shared Ride Program 13,044 11,918 (1 ,126) (8 63)

271 ,464 (33 ,349) (12 .28) TOTAL REVENUE AVAILABLE FOR OPERATIONS 273,875 238,115 (35,760) (13.06)

OPERATING EXPENSES

563 ,610 (5,655) (1.00) Labor & Fringe Benefits 593,431 569,265 24 ,166 4.07

129,615 2.002 1.54 Material & Services 132,152 127,613 4,539 343 14 ,414 1,231 8.54 Injuries & Damages 14,836 13,183 1,653 11 .14

9,449 955 10.11 Propulsion Power 10,132 8,494 1,638 16.17

3,868 (1,068) (27 .61 ) Fixed Rent 3,302 4,936 (1 ,634) (494 9)

17,563 911 5. 19 Fuel 19,084 16,652 2,432 12 .74

11 ,831 (143) (1 .21 ) Depreciation 13,356 11 ,974 1,382 10.35

Budget Reduction {4,000) (4,000)

750,350 (1 ,767) (0 .24) TOTAL OPERATING EXPENSES 782 ,293 752 ,117 30, 176 3. 86

(478 ,886) (35 .116)_ (7 .33) DEFICIT BEFORE SUBSIDIES (508 ,418) (514 ,002) (5,584) (1 10)

OPERATING SUBSIDIES

21 .028 (681 ) (3.24) Federal 20 ,862 20 ,347 (515) (247)

379, 41 8 9,990 2.63 State 407 , 126 389 ,408 (17 ,71 8) (4.35)

56 .914 1,497 2.63 Local 61 ,069 58,411 (2 ,658) (4.35)

23 .222 (962) (4 14) Lease Cost/Debt Service 22,251 22 ,260 9 0. 04

1,093 51 4.67 Other - Route Guarantees 1, 110 1,144 34 3 06

State and Local Budget Reduction (4,000) 4,000

481 ,675 9,895 2.05 TOTAL OPERATING SUBSIDIES 508 ,418 491,570 (16 ,848) (3.31 )

2,789 (25 ,221) SURPLUS/(DEFICIT) AFTER SUBSIDIES (22,432) (22 ,432)

256 273 Unrealized Investment Gain/(Loss) 529 529

$ 3,045 $ (24 ,948) SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (21 ,903) $ (21,903)

Page 2.3 5/15/2020

FINANCIAL REPORT-APRIL 2020

GROUP 3 - VICTORY DIVISION

(3. I) Comparative Statement of Income (3.2) Detail Income Statement - (One Month) (3.3) Detail Income Statement - (YTD)

BUDGET

AMOUNT

$

s

2.027

243

--2.270

8,247 --(5,977)

5,977

900

1,052

Page 3.1 511512020

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY VICTORY DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED APRIL 25 2020

(THOUSANDS)

ONE MONTH ENDED APRIL 25 , 2020

THIS YEAR LAST YEAR ---

ACTUAL ACTUAL

BETTER/ BETTER/

ACTUAL (WORSE) ACTUAL (WORSE) BUDGET

AMOUNT BUDGET% AMOUNT LAST YEAR% AMOUNT

OPERATING REVENUES

$ 272 (86 .58) $ 1,998 (86 .39) Passenger Revenue $ 21,077

152 (37.45) 242 (37.19) Other Operating Revenue 2,494

424 (81 .32) 2,240 (81 .07) TOTAL REVENUE AVAILABLE FOR OPERATIONS 23,571

6,502 21 .16 8,069 19.42 OPERATING EXPENSES 86,768

(6,078) (1 .69) (5 ,829) (4 .27) DEFICIT BEFORE SUBSIDIES (63, 197)

3,761 (37 .08) 5,563 (32 .39) OPERATING SUBSIDIES 63,197 --

(2,317) (266) SURPLUSl(DEFICIT) AFTER SUBSIDIES

(10) Unrealized Investment Gain/(Loss)

$ (2.317) $ (276) SURPLUS/( DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $

414 (54 .00) 903 (54 .15) TOTAL VEHICLE MILES 9,513

141 (86 .60) 1,024 (86 .23) REVENUE PASSENGER JOURNEYS 10,975

TEN MONTHS ENDED APRIL 25 . 2020

THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/

ACTUAL (WORSE) ACTUAL (WORSE)

AMOUNT BUDGET% AMOUNT LAST YEAR %

$ 18,601 (11 .75) $ 20,756 (10 38)

2,509 0.60 2,500 0.36

21,110 (10.44) 23,256 (9 .23)

85,426 1.55 85 ,179 (0.29)

(64 ,316) (1 .77) (61 ,923) (3.86)

61,378 (2 .88) 62 .302 (1 .48)

(2,938) 379

26 13

$ (2 ,912) $ 392

8.864 (6.82) 9,481 (6.51 )

9,643 (12.14) 10,716 (10.0 1)

LAST YEAR

AMOUNT

$ 1,998

$

1

241 --2,240

6,061

1,555

27

116

9

283

18 --8,069

(5,829)

288 4,572

686 17

5,563

(266)

(10)

(276)

Page 3.2 5/15/2020

$

$

THIS YEAR ACTUAL

BETTER (WORSE) LAST YEAR

AMOUNT %

(1,726) (86.39)

2

(92) (38.17)

(1,816) (81.07)

1,162 19.17

800 51.45

(500)

32 27 .59 (2) (22.22)

78 27 .56

(3) (16 .67)

1.567 19.42

(249) (4 27)

(98) (34.03) (1,474) (32.24)

(221) (32.22) (9) (52.94)

(1,802) (32.39)

(2,051)

10

(2,041)


VICTORY DIVISION DETAIL INCOME STATEMENT


(THOUSANDS)

THIS YEAR THIS YEAR ACTUAL

BUDGET ACTUAL BETTER (WORSE) BUDGET

AMOUNT AMOUNT AMOUNT %

OPERATING REVENUES

Passenger Revenue $ 2,027 $ 272 $ (1,755) (86.58)

Investment Income 7 3 (4) (57 14)

Other Income 236 149 (87) (36.86)

TOTAL REVENUE AVAILABLE FOR OPERATIONS 2,270 424 (1,846) (81 32)

OPERATING EXPENSES

Labor & Fringe Benefits 6,050 4,899 1,151 19 02

Material & Services 1,720 755 965 56 .10

Injuries & Damages 68 527 (459)

Propulsion Power 101 84 17 16.83

Fixed Rent 13 11 2 15.38

Fuel 275 205 70 25.45

Depreciation 20 21 (1) (5 00)

TOTAL OPERATING EXPENSES 8,247 6,502 1,745 21.16

DEFICIT BEFORE SUBSIDIES (5,977) (6,078) (101) (169)

OPERATING SUBSIDIES Federal 251 190 (61) (24.30)

State 4,972 3,098 (1,874) (37 69)

Local 746 465 (281) (37.67)

Lease Cost/Debt Service 8 8

Other - Route Guarantees

TOTAL OPERATING SUBSIDIES 5,977 3,761 (2,216) (37 08)

SURPLUS/(DEFICIT) AFTER SUBSIDIES (2,317) (2,317)


SURPLUS/(DEFIC\T) AFTER INVESTMENT GAIN/(LOSS) $ $ {2,317) $ (2,317)

$

$

LAST YEAR AMOUNT

20.756

68 2,432

23,256

63,315 16,799

701 1,073

159

2.947 185

85,179

(61,923)

2,792 51 ,644

7,747 119

---62,302

379

13

392

Page 3.3 5/15/2020

$

$

THIS YEAR ACTUAL BETTER (WORSE) LAST YEAR

AMOUNT %

(2, 155) (10.38) (6) (8.82) 15 0.62

(2,146) (9.23)

411 0.65 858 5.11

(1,700) 98 9.13

(44) (27.67) 136 4.61

(6) (3.24) (247) (0.29)

(2,393) (3.86)

(171) (6.12) (633) (1.23)

(95) (1.23) (25) (21.01)

(924) (1.48)

(3,317)

13

(3,304)

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY VICTORY DIVISION

DETAIL INCOME STATEMENT TEN MONTHS ENDED APRIL 25 . 2020

(THOUSANDS)




OPERATING REVENUES Passenger Revenue $ 21,077 $ 18,601 $ (2,476) (1175)


Other Income 2,421 2,447 26 1 07

TOTAL REVENUE AVAILABLE FOR OPERATIONS 23,571 21 ,110 (2.461) (10 44)

OPERATING EXPENSES Labor & Fringe Benefits 63,980 62,904 1,076 1.68 Material & Services 17,619 15,941 1,678 9.52 Injuries & Damages 735 2.401 (1,666) Propulsion Power 1,051 975 76 7.23 Fixed Rent 161 203 (42) (26.09)

Fuel 3,022 2,81 1 211 6.98 Depreciation 200 191 9 4.50

TOTAL OPERATING EXPENSES 86,768 85,426 1,342 1.55

DEFICIT BEFORE SUBSIDIES (63, 197) (64,316) (1,119) (1.77)

OPERATING SUBSIDIES Federal 2,650 2,621 (29) (1.09)

State 52,565 51 ,011 (1,554) (2.96) Local 7,885 7,652 (233) (2 95) Lease Cost/Debt Service 97 94 (3) (3 09) Other - Route Guarantees

TOTAL OPERATING SUBSIDIES 63, 197 61,378 (1,819) (2 88)


Unrealized Investment Gain/(Loss) 26 26

SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (2,912) $ (2,912)


GROUP 4 - FRONTIER DIVISION

(4.1) Comparative Statement oflncome (4.2) Detail Income Statement - (One Month) (4.3) Detail Income Statement - (YTD)

BUDGET

AMOUNT

$

$

515

77

--592

2,794 --(2,202)

2.202

-

441

257

Page 4.1 5/15/2020

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY FRONTIER DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED APRIL 25. 2020

(THOUSANDS)


THIS YEAR LAST YEAR ---

ACTUAL ACTUAL

BETTER/ BETTER/


AMOUNT BUDGET% AMOUNT LAST YEAR% AMOUNT

OPERATING REVENUES

$ 60 (88 35) $ 504 (88.10) Passenger Revenue $ 5,470

18 (76 62) 59 (69.49) Other Operating Revenue 767

78 (86.82) 563 (86.15) TOTAL REVENUE AVAILABLE FOR OPERATIONS 6,237

2,238 19.90 2,610 14.25 OPERATING EXPENSES 29,531

(2.160) 1.91 (2,047) (5.52) DEFICIT BEFORE SUBSIDIES (23,294)

1,319 (40.10) 1,950 (32.36) OPERATING SUBSIDIES 23.294 --

(841) (97) SURPLUS/(DEFICIT) AFTER SUBSIDIES

(2) Unrealized Investment Gain/(Loss)

$ (841) $ (99) SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $

249 (43.54) 439 (43.28) TOTAL VEHICLE MILES 4,608

26 (89.88) 252 (89.68) REVENUE PASSENGER JOURNEYS 2,728


THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/


AMOUNT BUDGET% AMOUNT LAST YEAR% --

$ 4,667 (14.68) s 5,340 (12.60) 709 (7.56) 641 10.6 1

5,376 (13.80) 5,981 (10 12)

29,280 0.85 28.808 (164)

(23,904) (2.62) (22.827) (4 72)

22 ,836 (1.97) 22 ,964 (0.56)

(1,068) 137

5 3

$ (1,063) $ 140

4,377 (5.01) 4,617 (5.20)

2,347 (13.97) 2.683 (12.52)

$

$

LAST YEAR

AMOUNT --

504

59 -

563

2.089

317

16

3 180

5 --2,610

(2,047)

99

1,559

233

6

53 -

1,950

(97)

(2)

(99)

Page 4.2 5/15/2020

$

$

THIS YEAR ACTUAL


AMOUNT %

(444) (88.10)

1 (42) (71.19)

(485) (8615)

345 16.52

56 17.67

(74)

(2) (66.67)

47 26.11

372 14.25

(113) (5.52)

(34) (34.34)

(518) (33.23)

(75) (32.19)

(4) (66.67)

(631) (32.36)

(744)

2

(742)


FRONTIER DIVISION DETAIL INCOME STATEMENT


(THOUSANDS)



AMOUNT AMOUNT AMOUNT % --

OPERATING REVENUES

Passenger Revenue $ 515 s 60 $ (455) (88 35) Investment Income 2 1 (1) (50 00)

Other Income 75 17 (58) (7733)

TOTAL REVENUE AVAILABLE FOR OPERATIONS 592 78 (514) (86 82)

OPERATING EXPENSES

Labor & Fringe Benefits 2,204 1,744 460 20.87

Material & Services 367 261 106 28 .88

Injuries & Damages 24 90 (66)

Fixed Rent 4 5 (1) (25 00)

Fuel 190 133 57 30.00

Depreciation 5 5 ---------

TOTAL OPERATING EXPENSES 2,794 2,238 556 19.90

DEFICIT BEFORE SUBSIDIES (2,202) (2,160) 42 1.91

OPERATING SUBSIDIES

Federal 90 65 (25) (27.78)

State 1,788 1,041 (747) (41.78)

Local 268 158 (110) (41.04)

Lease Cost/Debt Service 3 2 (1) (33 33)

Other - Route Guarantees 53 53

TOTAL OPERATING SUBSIDIES 2,202 1,319 (883) (40.10)

SURPLUS/(DEFICIT) AFTER SUBSIDIES (841) (841)

Unrealized Investment Gain/(Loss) --

SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (841) $ (841)

$

$

LAST YEAR AMOUNT

5,340

21

620 --5,981

22.789 3,667

291

51

1,966

44 ---28,808

(22.827)

1,006

18,603

2.790

32

533 ---22,964

137 -3

140

Page 4.3 5/15/2020

$

$

THIS YEAR ACTUAL


AMOUNT %

(673) (12.60)

(3) (14.29)

71 11.45

(605) (10 122_

(599) (2.63)

194 5.29

(212) (72.85)

(14) (27.45)

159 8.09

(472) (1 64)

(1,077) (4 722_

(53) (5.27) (60) (0.32)

(9) (0 32)

(7) (2 1.88)

1 0.19

(128) (0.56)

(1.205)

2

(1,203)


FRONTIER DIVISION DETAIL INCOME STATEMENT


(THOUSANDS)




OPERATING REVENUES

Passenger Revenue $ 5,470 $ 4,667 $ (803) (14.68)


Other Income 746 691 (55) (7.37)

TOTAL REVENUE AVAILABLE FOR OPERATIONS 6,237 5,376 (861) (1380)

OPERATING EXPENSES

Labor & Fringe Benefits 23,279 23 ,388 (109) (0.47)

Material & Services 3,825 3,473 352 9.20

Injuries & Damages 263 503 (240) (91 25)

Fixed Rent 51 65 (14) (27.45)

Fuel 2,067 1,807 260 12.58

Depreciation 46 44 2 4.35

TOTAL OPERATING EXPENSES 29,531 29,280 251 0.85

DEFICIT BEFORE SUBSIDIES (23,294) _J23 ,904) (610) (2 62)

OPERATING SUBSIDIES

Federal 955 953 (2) (0 .21)

State 18,943 18,543 (400) (2 11 )

Local 2,841 2,781 (60) (2 11)

Lease Cost/Debt Service 25 25 Other - Route Guarantees 530 534 4 0.75

TOTAL OPERATING SUBSIDIES 23,294 22,836 (458) (1 97)



SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (1,063) $ (1,063)

FINANCIAL REPORT-APRIL 2020

GROUP 5 - REGIONAL RAIL DIVISION

(5.1) Comparative Statement oflncome (5.2) Detail Income Statement - (One Month) (5.3) Detail Income Statement - (YTD)

BUDGET

AMOUNT --

$ 11 ,772

$

1,205

12,977

29 ,810 --(16,833)

16,833

1,688

2,787

Page 5.1 5/15/2020

SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY REGIONAL RAIL DIVISION

COMPARATIVE STATEMENT OF INCOME PERIOD ENDED APRIL 25, 2020

(THOUSANDS)

ONE MONTH ENDED APRIL 25 , 2020

THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/


AMOUNT BUDGET % AMOUNT LAST YEAR % AMOUNT --OPERATING REVENUES

$ 1,177 (90 .00) $ 11,708 (89 .95) Passenger Revenue $ 117,980

468 (6116) 1,133 (58 .69) Other Operating Revenue 12,734

1,645 (87 32) 12,841 (87 .19) TOTAL REVENUE AVAILABLE FOR OPERATIONS 130,714

27,574 7.50 27,278 (1.09) OPERATING EXPENSES 313,671

(25,929) (54 .04) (14,437) (79.60) DEFICIT BEFORE SUBSIDIES (182 ,957)

20,598 22 .37 13,898 48.21 OPERATING SUBSIDIES 182,957 --

(5,331) (539) SURPLUS/(DEFICIT) AFTER SUBSIDIES

14 (149) Unrealized Investment Gain/(Loss)

$ (5 ,317) $ (688) SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $

426 (74 .76) 1,678 (74 .61) TOTAL VEHICLE MILES 17 ,837

247 (91 .14) 2,778 (91 .11 ) REVENUE PASSENGER JOURNEYS 28 ,767

TEN MONTHS ENDED APRIL 25 , 2020

THIS YEAR LAST YEAR

ACTUAL ACTUAL

BETTER/ BETTER/


AMOUNT BUDGET % AMOUNT LAST YEAR %

$ 105,791 (10 33) $ 117,410 (9 90)

11,649 (8 .52) 12 ,070 (3.49)

117,440 (10 .15) 129,480 (9.30)

320,870 (2 .30) 303,086 (5 .87)

(203 ,430) (11.19) (173,606) (17 .18)

196,762 7.55 174,342 12 .86

(6 ,668) 736

677 48

$ (5 ,991) $ 784

16,575 (7 .08) 17 ,522 (5.40)

25 ,971 (9.72) 28,294 (8.2 1)

LAST YEAR

AMOUNT

$ 11 ,708

96

1,037

12,841

22,290

8,419 (5 ,418)

1,311

85 29

562

27 ,278

(14 ,437)

472

7.209 1,081

4.994

142 --

13,898

(539)

(149)

$ (688)

Page 5.2 5/15/2020

$

$

THIS YEAR ACTUAL


AMOUNT %

(10 ,531) (89 .95)

(34) (35.42)

(631) (60.85) (11,196) (87 .19)

7,988 35.84

(1,400) (16 .63)

(7,325)

560 42 .72

(82) (96 .47)

(5) (17 .24)

(32) (5 .69)

(296) (1 .09)

(11 ,492)_ (79 .60)

239 50 .64

5,34 9 74 .20

803 74 .28

414 8.29

(105) (73 .94)

6.700 48 .21

(4,792)

163

(4 ,629)


REGIONAL RAIL DIVISION

DETAIL INCOME STATEMENT


(THOUSANDS)


BUDGET ACTUAL BETTER(WORSE)BUDGET


OPERATING REVENUES

Passenger Revenue $ 11,772 $ 1,177 $ (10,595) (90.00)

Investment Income 131 62 (69) (52 .67)

Other Income 1,074 406 (668) (62.20)

TOTAL REVENUE AVAILABLE FOR OPERATIONS 12,977 1,645 (11 ,332) (87 .32)

OPERATING EXPENSES

Labor & Fringe Benefits 17,598 14,302 3,296 18.73

Material & Services 9,729 9,819 (90) (0 93)

Injuries & Damages 381 1,907 (1 ,526)

Propulsion Power 1,321 751 570 43 .15

Fixed Rent 174 167 7 4.02

Fuel 48 34 14 29 .17

Depreciation 559 594 (35) (6.26)

TOTAL OPERATING EXPENSES 29 ,810 27 ,574 2.236 7.50

DEFICIT BEFORE SUBSIDIES _J16,833) (25 ,929) (9,096) (54 .04)

OPERATING SUBSIDIES

Federal 493 711 218 44 .22

State 9,781 12,558 2,777 28 .39

Local 1,467 1,884 417 28.43

Lease Cost/Debt Service 4,954 5,408 454 9.16

Other· Route Guarantees 138 37 (101 ) (73 19)

TOTAL OPERATING SUBSIDIES 16,833 20 ,598 3,765 22 .37

SURPLUS/(DEFICIT) AFTER SUBSIDIES (5 ,331 ) (5,331 )


SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (5,317) $ (5.317)

LAST YEAR

AMOUNT

$ 117,410

1,303

10.767

129.480

187,675

96,743

(2 ,304)

14,769

1,056

387 4,760

303 ,086

(173,606)

5,417

100.195 15,029

52 ,284

1,417

174.342

736 -

48

$ 784

Page 5.3 5/15/2020

$

$

THIS YEAR ACTUAL BETTER (WORSE) LAST YEAR

AMOUNT %

(11 ,619) (9.90) (28) (2.15)

(393) (3.65) (12 ,040) (9 .30)

(3 ,557) (1 .90) (3 ,298) (3.41)

(11 ,622) 1,935 13.10

(818) (77.46)

56 14.47

(480) (10 .08) (17 ,784) (5.87)

(29 ,824) (17.18)

530 9.78 15,551 15.52 2,333 15.52

3,858 7.38

148 10.44

22,420 12.86

(7.404)

629

(6 .775)


REGIONAL RAIL DIVISION DETAIL INCOME STATEMENT


(THOUSANDS)




OPERATING REVENUES

Passenger Revenue $ 117,980 $ 105,791 $ (12 ,189) (10.33)

Investment Income 1,353 1,275 (78) (5.76)

Other Income 11 ,381 10,374 (1 ,007) (8. 85)

TOTAL REVENUE AVAILABLE FOR OPERATIONS 130,714 117.440 (13,274) (10. 15)

OPERATING EXPENSES

Labor & Fringe Benefits 187,381 191 ,232 (3 ,851 ) (2.06) Material & Services 101 ,092 100,041 1,051 1.04 Injuries & Damages 3,782 9,318 (5,536) Propulsion Power 13,493 12,834 659 4.88

Fixed Rent 1,821 1,874 (53) (2.91)

Fuel 516 331 185 35.85

Depreciation 5,586 5,240 346 6.19

TOTAL OPERATING EXPENSES 313,671 320,870 (7,199) (2.30)

DEFICIT BEFORE SUBSIDIES (182,957) (203,430) (20.473) (11 .19)

OPERATING SUBSIDIES

Federal 5.401 5,947 546 10.1 1

State 107,148 115,746 8,598 8.02 Local 16,072 17,362 1,290 8.03 Lease Cost/Debt Service 52 ,956 56,142 3, 186 6.02

Other - Route Guarantees 1,380 1,565 185 13.41

TOTAL OPERATING SUBSIDIES 182,957 196,762 13.805 7.55

SURPLUS/(DEFICIT) AFTER SUBSIDIES (6,668) (6 .668)


SURPLUS/(DEFICIT) AFTER INVESTMENT GAIN/(LOSS) $ $ (5 ,991) $ (5 .991 )

MINUTES OF REGULAR BOARD MEETING OF SOUTHEASTERN ...Kevin L. Johnson, P. E. John I. Kane Obra S ....

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