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Finance/Budget

A message from our CEO, Phil A. Washington:

When the state of California was locked down earlier this year, the magnitude of the impact on sales tax revenues Metro and the region relies on were uncertain. Thanks to tight budget controls and emergency relief funding granted to Metro through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, this year’s budget is balanced, streamlined, and fiscally responsible. The [FY21 budget] is $6.0 billion, a decrease of 16.5% from the prior year, due in large part to the economic challenges of the pandemic. Despite economic challenges, the budget does not include staffing reductions, demonstrating Metro’s commitment to preserving jobs. This budget also illustrates our enduring commitment to provide critical transportation services throughout the County. Metro has a significant impact on the local economy and on the lives of all County residents. With this in mind, we must make careful choices focused on equity, sustainability, and reimagining the future. If we are willing to break out from established ways and get creative, we can and will make it through this pandemic and its recovery together, bigger and better than before.

In light of the COVID-19 outbreak, the public outreach for the FY21 budget was temporarily put on hold in mid-March. We resumed all FY21 budget public engagement in the summer by soliciting meaningful input from the public and stakeholders via public community meetings, a public hearing, English and Spanish questionaires and via email. In the last 25 years, we’ve made progress in creating more transportation options for everyone. But there is still more to do. We listened to you, LA. Click here to view the FY21 adopted budget.


Metro has developed this financial section to provide relevant and timely information for individuals interested in its financial data. Here you will find information about Metro's debt and investment policies and programs, bond issuance, annual reports, the annual budget, and other matters of financial interest.

Metro financial information is produced by the Finance departments of Accounting, Management & Budget (OMB), Revenue and Treasury. The Finance departments analyze fiscal issues and advise Metro Board of Directors in the areas of short-term and long-term financing, fund planning, revenue forecasting, operating and capital budgets and compliance with accounting standards.

Management



Investment Policy

Per California State Law, Metro adopts an investment policy annually. Metro's investment policy affords Metro a broad spectrum of investment opportunities as long as the investment is deemed prudent and is authorized under the California Government Code Section 53600, et seq.

Metro has invested in U. S. Treasury Securities, Commercial Paper, Corporate Notes and Bonds and other secure investments. Operating funds are maintained in commercial banks where idle balances are invested as permitted by State law in certificates of deposit, money market accounts and other investments.

Restricted cash and investments with fiscal agents represents restricted monies held by Trustees for payment of debt service principal and interest expense, also included are funds set aside for cost overruns on capital projects, and self-insurance reserves for worker's compensation and public liability/property damage claims.

View complete policy

Investment Program

Metro’s Investment Program encompasses those assets managed internally by Treasury Department staff and by external investment managers. The short-term portfolios managed internally are earmarked to cover near-term operating expenses. The externally managed portfolios are invested in medium to long-term higher-yielding investments.

https://www.metrobonds.net/metro-investor-relations-ca/i3144

Investor Relations