MN SF5285

Requires the Metropolitan Council to prepare and submit an annual financial review by April 1 detailing revenue and expenditures for transportation components, in consultation with the commissioner of management and budget.

Financial review must be submitted to chairs and ranking minority members of legislative committees and divisions with jurisdiction over transportation policy and finance.

Minimum requirements include actual revenues, expenditures, transfers, reserves, and balances for the previous four budget years; budgeted and forecasted amounts for current and future budget years; comparisons between budgeted and actual amounts for the most recent completed budget year; and fund balances for each replacement service provider.

Review must include breakouts by transportation funding source, operating budget category (bus, light rail, commuter rail, planning, special transportation service, and replacement service provider assistance), and by operations, capital maintenance, and transit capital.

Review must summarize reserve policies, identify cost allocation methodology, and describe revenue assumptions and variables affecting the assumptions; applies to Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties.