MN SF3418

Legislative auditor must perform transit financial activity reviews twice yearly (April 1 and October 1) covering Metropolitan Council's Transportation Division, including monthly financial statements, obligations, expenditure commitments, and fiscal viability analysis; subdivision expires April 15, 2023.

Metropolitan area transit account money is annually appropriated to the Metropolitan Council for transit system operating expenditures in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties.

Metropolitan Council must adopt transportation budgets by June 15 annually for fiscal years starting July 1, with detailed expenditure statements, five-year capital programs, and financial plans prepared every even-numbered year.

Council must submit summaries of budget amendments to legislative committees with transportation policy and finance jurisdiction and to the Legislative Commission on Metropolitan Government.

Council must prepare financial overviews and forecasts in February and November showing actual and projected revenues, expenditures, transfers, and reserves by transportation operating category, and review this information with legislative committee chairs and staff within two weeks of release.

Transportation policy plan must include three revenue scenarios: fully constrained (no revenue increase, no inflation), partially constrained (no revenue increase, reasonable inflation), and envisioned revenue scenario identifying necessary increases for maintenance, improvements, and expansion.