King County - File #: 2016-0313

• File #: 2016-0313
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 7/5/2016
• In control: Budget and Fiscal Management Committee
• Final action: 7/18/2016
• Enactment date: 8/1/2016
• Enactment #: 18320
• Title: AN ORDINANCE relating to transportation-related funds; revising provisions in the transportation capital and operating funds and creating the revenue stabilization fund and the transit revenue fleet capital fund; amending Ordinance 17527, Section 83, and K.C.C. 4A.200.530, Ordinance 17527, Section 82, and K.C.C. 4A.200.540 and Ordinance 17527, Section 83, as amended, and K.C.C. 4A.200.530 and adding new sections to K.C.C. chapter 4A.200.
• Sponsors: Dave Upthegrove
• Indexes: Funds, Transportation
• Staff: Resha, John

Date	Ver.	Action By	Action	Result
7/18/2016	1	Metropolitan King County Council	Hearing Held
7/18/2016	1	Metropolitan King County Council	Passed	Pass
7/13/2016	1	Budget and Fiscal Management Committee	Recommended Do Pass	Pass
7/5/2016	1	Metropolitan King County Council	Introduced and Referred

Drafter
Clerk 06/24/2016
Title
AN ORDINANCE relating to transportation-related funds; revising provisions in the transportation capital and operating funds and creating the revenue stabilization fund and the transit revenue fleet capital fund; amending Ordinance 17527, Section 83, and K.C.C. 4A.200.530, Ordinance 17527, Section 82, and K.C.C. 4A.200.540 and Ordinance 17527, Section 83, as amended, and K.C.C. 4A.200.530 and adding new sections to K.C.C. chapter 4A.200.
Body
STATEMENT OF FACTS:
1. Adopted transit fund management policies provide a framework to ensure the financial health and viability of the public transportation fund.
2. In 2011, by Ordinance 17225, council adopted fund management policies for the public transportation fund.
3. During the 2015/2016 budget development, both the executive and council called for a review of the fund management policies, especially with regard to reserve levels, uses, and replenishment.
4. During 2015, a workgroup consisting of executive, office of performance, strategy and budget, transit division, department of transportation director's office and council staff reviewed the existing policies and hired a consultant to provide recommendations on reserve types, levels, uses and replenishment.
5. The consultant's report was completed in December 2015, and these findings were presented to the workgroup.
6. In 2016, the executive convened the special committee on transit to review the consultant's recommendations and the workgroup's draft fund management policy recommendations.
7. In May 2016, the special committee on transit reached consensus on revised fund management policies for the public transportation fund.
8. Successful implementation of these new policies depends or is supported by the establishment of a transit revenue fleet capital fund and a transit revenue stabilization fund. Implementation of the transit revenue fleet capital fund will require a transition period and will be complete by the beginni...