|
|||||||||||||||||||||||||
|
|||||||||||||||||||||||||
| |||||||||||||||||||||||||
|
|||||||||||||||||||||||||
| |||||||||||||||||||||||||
1 | AN ACT concerning public transportation.
| ||||||||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||
4 | Section 5. The Regional Transportation Authority Act is | ||||||||||||||||||||||||
5 | amended by changing Section 4.11 as follows:
| ||||||||||||||||||||||||
6 | (70 ILCS 3615/4.11) (from Ch. 111 2/3, par. 704.11)
| ||||||||||||||||||||||||
7 | Sec. 4.11. Budget Review Powers.
| ||||||||||||||||||||||||
8 | (a) The provisions of this Section
shall only be applicable | ||||||||||||||||||||||||
9 | to financial periods beginning after December 31,
1983. The | ||||||||||||||||||||||||
10 | Transition Board shall adopt a timetable governing the | ||||||||||||||||||||||||
11 | certification
of estimates and any submissions required under | ||||||||||||||||||||||||
12 | this Section for fiscal
year 1984 which shall control over the | ||||||||||||||||||||||||
13 | provisions of this Act. Based
upon estimates which shall be | ||||||||||||||||||||||||
14 | given to the Authority by the Director of
the Illinois
| ||||||||||||||||||||||||
15 | Governor's Office of Management and Budget (formerly
Bureau of | ||||||||||||||||||||||||
16 | the Budget ) of the receipts to be received by the
Authority | ||||||||||||||||||||||||
17 | from the taxes imposed
by the Authority and the authorized | ||||||||||||||||||||||||
18 | estimates of amounts
to be available from State and other | ||||||||||||||||||||||||
19 | sources to the Service Boards, and
the times at which such | ||||||||||||||||||||||||
20 | receipts and amounts will be available, the Board
shall, not | ||||||||||||||||||||||||
21 | later than the next preceding September 15th prior to the | ||||||||||||||||||||||||
22 | beginning
of the Authority's next fiscal year,
advise each | ||||||||||||||||||||||||
23 | Service Board of the amounts estimated by the Board to be | ||||||||||||||||||||||||
24 | available
for such Service Board during such fiscal year and | ||||||||||||||||||||||||
25 | the two following fiscal
years and the times at which such | ||||||||||||||||||||||||
26 | amounts will be available. The Board
shall, at the same time, | ||||||||||||||||||||||||
27 | also advise each Service Board of its required
system generated | ||||||||||||||||||||||||
28 | revenues recovery ratio for the next fiscal year which
shall be | ||||||||||||||||||||||||
29 | the percentage of the aggregate costs of providing public
| ||||||||||||||||||||||||
30 | transportation by or under jurisdiction of that Service Board | ||||||||||||||||||||||||
31 | which must be
recovered from system generated revenues. In | ||||||||||||||||||||||||
32 | determining
a Service Board's system generated revenue |
| |||||||
|
|||||||
1 | recovery ratio, the Board shall
consider the historical system | ||||||
2 | generated revenues recovery ratio for the
services subject to | ||||||
3 | the jurisdiction of that
Service Board. The Board shall not | ||||||
4 | increase a Service Board's system generated
revenues recovery | ||||||
5 | ratio for the next fiscal year over such ratio for the
current | ||||||
6 | fiscal year disproportionately or prejudicially to increases | ||||||
7 | in
such ratios for other Service Boards. The Board may, by | ||||||
8 | ordinance,
provide that (i) the cost of research and | ||||||
9 | development projects in the
fiscal year beginning January 1, | ||||||
10 | 1986 and ending December 31, 1986
conducted pursuant to Section | ||||||
11 | 2.09 of this Act, and (ii) up to $5,000,000
annually of the | ||||||
12 | costs for passenger security, may be exempted from the
farebox | ||||||
13 | recovery ratio or the system generated revenues recovery ratio | ||||||
14 | of
the Chicago Transit Authority, the Suburban Bus Board, and | ||||||
15 | the Commuter
Rail Board, or any of them. For the fiscal year | ||||||
16 | beginning January 1, 1986
and ending December 31, 1986, and for | ||||||
17 | the fiscal year beginning January
1, 1987 and ending December | ||||||
18 | 31, 1987, the Board shall, by ordinance, provide
that:
(1) the | ||||||
19 | amount of a grant, pursuant to Section 2705-310 of the
| ||||||
20 | Department of Transportation Law (20 ILCS 2705/2705-310), from | ||||||
21 | the Department of Transportation for
the cost of services for | ||||||
22 | the mobility limited provided by the Chicago
Transit Authority, | ||||||
23 | and (2) the amount of a grant, pursuant to Section
2705-310 of | ||||||
24 | the Department of Transportation Law (20 ILCS
2705/2705-310), | ||||||
25 | from the Department
of
Transportation for the cost of services | ||||||
26 | for the mobility limited by the
Suburban Bus Board or the | ||||||
27 | Commuter Rail Board, be exempt from the farebox
recovery ratio | ||||||
28 | or the system generated revenues recovery ratio. For the fiscal | ||||||
29 | years beginning in 2004 and thereafter, all expenses incurred | ||||||
30 | by a Service Board related to the complimentary paratransit | ||||||
31 | service, as required by 49 CFR 37.121 through 49 CFR 37.133, to | ||||||
32 | ADA paratransit-eligible individuals shall be exempted from | ||||||
33 | the farebox recovery or the system-generated revenues recovery | ||||||
34 | ratio of the Service Board and the system-generated revenues | ||||||
35 | recovery ratio of the Authority.
| ||||||
36 | (b)(1) Not later than the next preceding November 15 prior |
| |||||||
|
|||||||
1 | to the
commencement of such fiscal year, each Service Board | ||||||
2 | shall submit to the
Authority its proposed budget for such | ||||||
3 | fiscal year and its proposed
financial plan for the two | ||||||
4 | following fiscal years. Such budget and
financial plan shall | ||||||
5 | not project or assume a receipt of revenues from the
Authority | ||||||
6 | in amounts greater than those set forth in the estimates | ||||||
7 | provided
by the Authority pursuant to subsection (a) of this | ||||||
8 | Section.
| ||||||
9 | (2) The Board shall review the proposed budget and | ||||||
10 | financial plan submitted
by each Service Board, and shall adopt | ||||||
11 | a consolidated budget and financial
plan. The Board shall | ||||||
12 | approve the budget and plan if:
| ||||||
13 | (i) the Board has approved the proposed budget and cash | ||||||
14 | flow plan for
such fiscal year of each Service Board, | ||||||
15 | pursuant to the conditions set forth
in clauses (ii) | ||||||
16 | through (vii) of this paragraph;
| ||||||
17 | (ii) such budget and plan show a balance between (A) | ||||||
18 | anticipated revenues
from all sources including operating | ||||||
19 | subsidies and (B) the costs of providing
the services | ||||||
20 | specified and of funding any operating deficits or | ||||||
21 | encumbrances
incurred in prior periods, including | ||||||
22 | provision for payment when due of
principal and interest on | ||||||
23 | outstanding indebtedness;
| ||||||
24 | (iii) such budget and plan show cash balances including | ||||||
25 | the proceeds of
any anticipated cash flow borrowing | ||||||
26 | sufficient to pay with reasonable
promptness all costs and | ||||||
27 | expenses as incurred;
| ||||||
28 | (iv) such budget and plan provide for a level of fares | ||||||
29 | or charges and
operating or administrative costs for the | ||||||
30 | public transportation provided
by or subject to the | ||||||
31 | jurisdiction of such Service Board sufficient to allow
the | ||||||
32 | Service Board to meet its required system generated revenue | ||||||
33 | recovery ratio;
| ||||||
34 | (v) such budget and plan are based upon and employ | ||||||
35 | assumptions and
projections which are reasonable and | ||||||
36 | prudent;
|
| |||||||
|
|||||||
1 | (vi) such budget and plan have been prepared in | ||||||
2 | accordance with sound
financial practices as determined by | ||||||
3 | the Board; and
| ||||||
4 | (vii) such budget and plan meet such other financial, | ||||||
5 | budgetary, or fiscal
requirements that the Board may by | ||||||
6 | rule or regulation establish.
| ||||||
7 | (3) In determining whether the budget and financial plan | ||||||
8 | provide a level
of fares or charges sufficient to allow a | ||||||
9 | Service Board to meet its required
system generated revenue | ||||||
10 | recovery ratio under clause (iv) in subparagraph (2),
the Board | ||||||
11 | shall allow a Service Board to carry over cash from farebox
| ||||||
12 | revenues to subsequent fiscal years.
| ||||||
13 | (4) Unless the Board by an affirmative vote of 9 of the | ||||||
14 | then Directors
determines that the budget and financial plan of | ||||||
15 | a Service Board meets the
criteria specified in clauses (ii) | ||||||
16 | through (vii) of subparagraph (2) of
this paragraph (b), the | ||||||
17 | Board shall not release to that Service Board any
funds for the | ||||||
18 | periods covered by such budget and financial plan except for
| ||||||
19 | the proceeds of taxes imposed by the Authority under Section | ||||||
20 | 4.03 which
are allocated to the Service Board under Section | ||||||
21 | 4.01.
| ||||||
22 | (5) If the Board has not found that the budget and | ||||||
23 | financial plan of a
Service Board meets the criteria specified | ||||||
24 | in clauses (i) through (vii)
of subparagraph (2) of this | ||||||
25 | paragraph (b), the Board shall, five working
days after the | ||||||
26 | start of the Service Board's fiscal year adopt a budget and
| ||||||
27 | financial plan meeting such criteria for that Service Board.
| ||||||
28 | (c)(1) If the Board shall at any time have received a
| ||||||
29 | revised estimate, or revises any estimate the Board has made, | ||||||
30 | pursuant to
this Section of the receipts to be collected by the | ||||||
31 | Authority which, in
the judgment of the Board, requires a | ||||||
32 | change in the estimates on which the
budget of any Service | ||||||
33 | Board is based, the Board shall advise the affected
Service | ||||||
34 | Board of such revised estimates, and such Service Board shall | ||||||
35 | within
30 days after receipt of such advice submit a revised | ||||||
36 | budget incorporating
such revised estimates. If the revised |
| |||||||
|
|||||||
1 | estimates require, in the judgment
of the Board, that the | ||||||
2 | system generated revenues recovery ratio of one or
more Service | ||||||
3 | Boards be revised in order to allow the Authority to meet its
| ||||||
4 | required ratio, the Board shall advise any such Service Board | ||||||
5 | of its revised
ratio and such Service Board shall within 30 | ||||||
6 | days after receipt of such
advice submit a revised budget | ||||||
7 | incorporating such revised estimates or ratio.
| ||||||
8 | (2) Each Service Board shall, within such period after the | ||||||
9 | end of each
fiscal quarter as shall be specified by the Board, | ||||||
10 | report to the Authority
its financial condition and results of | ||||||
11 | operations and the financial condition
and results of | ||||||
12 | operations of the public transportation services subject
to its | ||||||
13 | jurisdiction, as at the end of and for such quarter. If in the | ||||||
14 | judgment
of the Board such condition and results are not | ||||||
15 | substantially in accordance
with such Service Board's budget | ||||||
16 | for such period, the Board shall so advise
such Service Board | ||||||
17 | and such Service Board shall within the period specified
by the | ||||||
18 | Board submit a revised budget incorporating such results.
| ||||||
19 | (3) If the Board shall determine that a revised budget | ||||||
20 | submitted by a
Service Board pursuant to subparagraph (1) or | ||||||
21 | (2) of this paragraph (c)
does not meet the criteria specified | ||||||
22 | in clauses (ii) through (vii) of
subparagraph
(2) of paragraph | ||||||
23 | (b) of this Section, the Board shall not release any monies
to | ||||||
24 | that Service Board except the proceeds of taxes imposed by the | ||||||
25 | Authority
under Section 4.03 or 4.03.1 which are allocated to | ||||||
26 | the Service Board under
Section 4.01. If the Service Board | ||||||
27 | submits a revised financial plan and
budget which plan and | ||||||
28 | budget shows that the criteria will be met within
a four | ||||||
29 | quarter period, the Board shall continue to release funds to | ||||||
30 | the
Service Board. The Board by a 9 vote of its then Directors | ||||||
31 | may
require a Service Board to submit a revised financial plan | ||||||
32 | and budget which
shows that the criteria will be met in a time | ||||||
33 | period less than four quarters.
| ||||||
34 | (d) All budgets and financial plans, financial statements, | ||||||
35 | audits and
other information presented to the Authority | ||||||
36 | pursuant to this Section or
which may be required by the Board |
| |||||||
|
|||||||
1 | to permit it to monitor compliance with
the provisions of this | ||||||
2 | Section shall be prepared and presented in such
manner and | ||||||
3 | frequency and in such detail as shall have been prescribed by
| ||||||
4 | the Board, shall be prepared on both an accrual and cash flow | ||||||
5 | basis as
specified by the Board, and shall identify and | ||||||
6 | describe the assumptions and
projections employed in the | ||||||
7 | preparation
thereof to the extent required by the Board. Except | ||||||
8 | when the Board adopts
a budget and a financial plan for a | ||||||
9 | Service Board under paragraph (b)(5),
a Service Board shall | ||||||
10 | provide for such levels of transportation services
and fares or | ||||||
11 | charges therefor as it deems appropriate and necessary in the
| ||||||
12 | preparation of a budget and financial plan meeting the criteria | ||||||
13 | set forth
in clauses (ii) through (vii) of subparagraph (2) of | ||||||
14 | paragraph (b) of this
Section. The Board shall have access to | ||||||
15 | and the right to examine and copy
all books, documents, papers, | ||||||
16 | records, or other source data of a Service
Board relevant to | ||||||
17 | any information submitted pursuant to this Section.
| ||||||
18 | (e) Whenever this Section requires the Board to make | ||||||
19 | determinations with
respect to estimates, budgets or financial | ||||||
20 | plans, or rules or regulations
with respect thereto such | ||||||
21 | determinations shall be made upon the affirmative
vote of at | ||||||
22 | least 9 of the then Directors and shall be incorporated in a
| ||||||
23 | written report of the Board and such report shall be submitted | ||||||
24 | within 10
days after such determinations are made to
the | ||||||
25 | Governor, the Mayor of Chicago (if such determinations relate | ||||||
26 | to the
Chicago Transit Authority), and the Auditor General of | ||||||
27 | Illinois.
| ||||||
28 | (Source: P.A. 91-239, eff. 1-1-00; revised 8-23-03.)
|