The previous post asked the question, "What is it Sound Transit's not telling us?", They've refused to release any 2021 financial reports and their October 28th meeting was "off-air". This post details one of the answers is the October 29th release of Sound Transit's "2022 Financial plan and Recommended Budget".
Sound Transit normally allows comments to the Board via emailallboardmembers@sound transit.com. With this budget they limited public comments to between 9:30 and 10:00 a.m. on November 4th. Doing so required going into Seattle to their "sign-up" window between 8:00 and 9:25 a.m. to comment on a first-come first-served basis.
Since the meeting was "virtual" those wishing to comment had to return home or someplace with access to website. Sound Transit planned to record any comments and post on their website 24 to 48 hours after the meeting. The likely result was very few chose to do so and I've been unable to find any video of those who did.
Yet the budget is surely worthy of critical comments. The most blatant example is the fact the 199-page document includes a great detail on where they will get the money and how it will be spent. However, it fails to provide any details as to the service each transit mode will provide, how many will chose to use the service, and how much the service will cost. Rather basic information for any transit system budget.
For example, Sound Transit's 2021 Financial Plan and Proposed Budget included "ST 2021 Budget Highlights" for each transit mode for 2019 actual, 2020 budget, 2020 actual, and 2021 budget predictions, (The 2020 actual results were, "preliminary and unaudited") The budget highlights for each mode included "Transit Mode Service Provided". "Service Consumed", "Service Performance Measures" and "Financial Performance Measures".
Each of these was broken down with "Service Provided" detailing "Revenue Vehicle Hours Operated", "Revenue Vehicle Miles Operated", and "Trips Operated". The "Service Consumed" included "Total Boardings" and "Average Weekday Boardings". The "Service Performance Measures" included "Total Boardings/Revenue Vehicle Hour", "Total Boardings/Trip" and "On-time Performance".
"Financial Performance Measures" included "Fare Revenue", "Operating Costs", and "Farebox Recovery". Again, the 2021 budget provided a detailed explanation of Sound Transit services, ridership, and cost for past, current, and predictions for the next year's operation.
By contrast, Sound Transit's 2022 Financial Plan and Recommended Budget" neglects to include any transit system information regarding 2020 actual, 2021 budget, 2021 actual, and 2022 budget predictions concerning what service each transit mode will provide, how many will use it, and what will it cost.
The likely reason is the same reason they've refused to release any "Quarterly Financial Reports" in 2021 and the Sound Transit Board's decision for an "off-air" response to the 10/21/21 "CFO Report" to the Board's Finance and Audit Committee. It reported ridership YTD through August was 39% below budget and fare revenue 50% less than budget. YTD farebox recovery for the Link, 6%, Sounder, 4%, and STX, 6%, were fractions of the 15%, 13%, and 15%, in 2021 budget predictions and 40%, 23%, and 20% Sound Transit policy targets.
Clearly Sound Transit failed to provide the Board accurate budget estimates for ridership, fares, and farebox recover in their 2021 Financial Plan and Recommended Budget. Again the CFO report is YTD through August. Any 2022 budget should reflect Sound Transit's predictions for Northgate Link operation. not only in terms of 2021"actual" transit results, but 2022 budget predictions.
The bottom line is on October 29th Sound Transit released a 199-page 2022 Financial Pan and Recommended Budget that neglected to predict how many commuters will ride the Link and how much each ride will cost. They did so because the Northgate Link debut finally demonstrated the failure of light rail routed through DSTT to accommodate riders needed to reduce congestion into Seattle. Sound Transit compounded that problem by refusing to add parking for access, choosing instead to use the Link to replace buses. (A clear precursor to East Link debut with half DSTT capacity, again without adding parking.) That Sound Transit made a monumental blunder extending Central Link beyond UW, across I-90 Bridge, and beyond SeaTac Airport.
Their October budget is their attempt to continue doing so. And the Seattle Times Traffic Lab continues to abet them.
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