6.
Metra 2024 Budget Overview
Metra Board of Directors' Dir. Joe McMahon stated he sent the Metra FY24 Proposed
Budget via e-mail to the Transportation Committee Members. He noted that the
proposed budget was voted on and passed by the Metra Board. A Public Hearing will
be held at the Kane County Government Center on November 2, 2023 from 4:00 p.m.
to 6:00 p.m. for public review and/or comment on the FY24 Budget. McMahon
explained that last week the Metra Board voted on a budget of approximately $1B. This
is a 4.9% increase over the FY23 budget, mostly due to inflation, insurance costs,
labor, and employment. Additionally, the Metra Board proposed an operating budget of
$575M for next year. The majority of that investment is in the Capital Structures, such
as rolling stock, trains, engines, and bridge work. The average age of Metra bridges are
approximately 70 years old. Some bridges exceed 100 years. Maintenance is crucial.
Metra has proposed a new fair structure across 13 zones in the region. The proposed
structure would reduce the 13 zones down to four. McMahon provided the proposed
fare structure for Metra Ticket Options and Fares. He reviewed the new options in
relation to the four zones. He spoke on the Return of Ridership. McMahon provided
information on the changes in ridership patterns. The majority of ridership is on
Tuesdays, Wednesdays, and Thursdays. McMahon reviewed CMAP's Plan of Action
for Regional Transit (PART) Report. There are a number of issues that need to be
dealt with and will be addressed within the report. One major challenge is to find a
funding source for public transportation. Once the funding source is decided upon, the
Governance Model will fall into place. If the funding source and Governance Model are
not decided upon, there is concern that service cuts would need to be made. If Metra
cuts services, it will cause a downward spiral in ridership. McMahon addressed
questions and comments from the Committee. Much discussion ensued.
7.
Finance
September Transportation Committee Finance Reports
A.
KDOT Deputy Dir. Rickert stated the monthly financial reports were on file. He
introduced KDOT's new Chief Financial Officer (CFO), Justin Vanvooren.