You may a PDF of the budget and overview statement here
Transcription
You may a PDF of the budget and overview statement here
Oregon Travel Experience & Travel Information Council 1500 Liberty St. SE, Suite 150 Salem, Oregon 97302 503-378-4508 1-800-574-9397 503-378-6282 FAX Kate Brown, Governor PUBLIC COMMENT INVITED ON TIC/OTE BUDGET The Travel Information Council (TIC), doing business as Oregon Travel Experience (OTE), is charged with operating, maintaining, improving and developing safety rest areas owned by the Oregon Department of Transportation (ODOT). Funding for these rest areas comes from ODOT under 2012 Senate Bill 1591 and subsequent interagency agreements. The funding level set in SB 1591 to fund these operations is $6.55 million each calendar year. In December 2013, the Oregon Transportation Commission (OTC) voted to reduce that amount to $4.96 million because of revenue shortfalls in the funding stream used by ODOT for TIC’s rest area operations. Interagency agreements filled the $1.59 million gap for calendar years 2014 and 2015, while alternate funding would be sought. As part of the agreement, the Travel Information Council agreed to operate two additional rest areas along with the five rest areas the Legislature had directed it to operate prior to the OTC’s decision to reduce funding. This brings the total rest areas covered by the agreement to seven and TIC’s overall responsibility to 29 rest areas. That $1.59 million gap funding is scheduled to end on December 31, 2015. However, both ODOT and TIC committed to pursue funding through the Legislature to fund rest areas (see Oregon Transportation Commission Minutes of the Regular Monthly Meeting December 18, 2013). The Travel Information Council remains cautiously optimistic that funding will be secured for ongoing rest area operations at current levels, enabling the agency to continue to operate safe, clean facilities for travelers in Oregon. By statute, TIC is required to develop a biennial budget. However, it is unfeasible to formally adopt a 24-month budget based on undetermined variables, including the number of rest areas the agency will continue to operate if funding levels are not restored. Under current assumptions of funding being reduced to $4.96 million, the agency would need to lay off staff, reduce services, and modify the interagency agreement with ODOT. Those cuts, if realized, would not go into effect until January 1, 2016. Accordingly, the Travel Information Council can continue to operating rest areas through the first six months of the 2015-17 biennium at current levels, and the TIC is considering this six-month continuing resolution budget submitted for public comment. This budget represents conservative spending, with no capital improvements to rest areas planned within the period. Restricted reserves are conserved. When actual funding and required service levels are finalized in a revised interagency agreement, TIC will OTE:5/19/15 have the information needed to develop an accurate biennial budget. That budget will be adopted through the formal public comment and adoption process before the end of the calendar year. The public is invited to comment on this budget, which will be discussed and adopted at the Council’s meeting at its Salem office on June 24, 2015. Written comments must be received by Monday, June 22, 2015, and can be mailed to: Oregon Travel Information Council Attn: Executive Director 1500 Liberty St. SE, Suite 150 Salem, Oregon 97302 If you have questions about this continuing resolution budget or other matters, please email them to OTE Executive Director Nancy DeSouza at [email protected] or call 503-373-1042. OTE:5/19/15 Oregon Travel Experience Summary of Draft Continuing Resolution Valid July 1, 2015 thru December 31, 2015 Created/Last Modified: 5/1/2015 Continuing Resolution Budget REVENUES Other‐Unrestricted Rest Area Total Revenue $1,142,938 $3,278,802 $4,421,740 EXPENSES Payroll Expenses Other‐Unrestricted Rest Area Total Payroll Expenses Direct Selling Expenses Other‐Unrestricted Rest Area Total Direct Selling Expenses General and Administrative Expenses Other‐Unrestricted Rest Area Total General and Administrative Expenses Legal and Professional Expenses Other‐Unrestricted Rest Area Total Legal and Professional Expenses Depreciation and Amortization Expenses Other‐Unrestricted Rest Area Total Depreciation and Amortization Expenses Total Expenses Other‐Unrestricted Rest Area Total Expenses Interest Revenue and Expense Other‐Unrestricted Rest Area Total Interest Revenue and Expense Other Revenue and Expense Other‐Unrestricted Rest Area Total Other Revenue and Expense Disposal of Assets Other‐Unrestricted Rest Area Total Disposals of Assets NET PROFIT (LOSS) Other‐Unrestricted Rest Area Total Net Income (Loss) $888,694 $1,165,150 $2,053,844 $23,876 $13,992 $37,868 ‐$160,146 $1,870,571 $1,710,425 $66,804 $0 $66,804 $236,109 $56,936 $293,045 $1,055,337 $3,106,649 $4,161,986 $0 $0 $0 $595 $0 $595 ‐$48,270 $0 ‐$48,270 $39,926 $172,153 $212,079 BEGINNING CASH BALANCE Other ‐ Unrestricted Other ‐ Reserve Other ‐ Restricted Rest Area Rest Area ‐ Reserve Total Beginning Cash Balance $718,348 $250,000 $66,338 $3,999,366 $750,000 $5,784,052 CASH INFLOW Other ‐ Unrestricted ‐ Fee Income Other ‐ Unrestricted ‐ RA Operating Expense Recapture Other ‐ Restricted Rest Area Total Cash Inflow $1,122,374 $491,250 $0 $3,804 $1,617,428 OPERATING CASH OUTFLOW Payroll Expenses Other ‐ Unrestricted Other ‐ Restricted Rest Area Total Payroll $893,418 $0 $1,169,804 $2,063,222 Operating Expenses Other ‐ Unrestricted Other ‐ Restricted Rest Area Total Operating Expenses $460,243 $200 $1,885,095 $2,345,538 Capital Investment Other ‐ Unrestricted Other ‐ Restricted Rest Area Total Capital Outflow $142,000 $0 $0 $142,000 Debt Reduction Other ‐ Unrestricted Other ‐ Restricted Rest Area Total Debt Reduction $0 $0 $0 $0 Increases in Inventories Other ‐ Unrestricted Other ‐ Restricted Rest Area $0 $0 $2,700 $2,700 TOTAL CASH OUTFLOW Other ‐ Unrestricted Other ‐ Restricted Rest Area Total Cash Outflows $1,495,661 $200 $3,057,599 $4,553,460 ENDING CASH BALANCE Other ‐ Unrestricted Other ‐ Restricted Rest Area Total Ending Cash Balance $1,086,311 $66,138 $1,695,571 $2,848,020