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Bi-State Development Operating and Capital Budget Approved For Fiscal Year 2018

Bi-State Development Operating and Capital Budget Approved For Fiscal Year 2018
April 28, 2017 Jerry Vallely

The Board of Commissioners of Bi-State Development (BSD) approved the operating and capital budget for the Fiscal Year (FY) that begins July 1, 2017, at the Board meeting this morning.

The budget outlines operational expenses before depreciation of $361 million for FY 2018, and projected operational expenses before depreciation of $372.1 million for FY 2019 and $382.1 million for FY 2020. An additional $20 million was added to the FY 2018 budget to enhance security on the Metro transit system. The budget does not include a fare increase for the Metro transit system in FY 2018.

The approved budget allocates resources to operate Bi-State Development; the Metro transit system; operations at the Gateway Arch and the Gateway Arch Riverfront Attractions; St. Louis Downtown Airport; the St. Louis Regional Freightway, the region’s freight district; the Bi-State Development Research Institute; and Arts In Transit, a non-profit entity that supports public art and community engagement programs.

“Fiscal responsibility is a top priority for Bi-State Development, and we manage our financial resources in a way that ensures we are making the best investment with the funds entrusted to us,” said John Nations, President and Chief Executive Officer of Bi-State Development. “At the same time, we provide our enterprises and employees with the resources they need to continue making an impact in our communities and improving the quality of life for everyone in the region.”

BSD also outlined a three-year capital budget totaling $709.1 million, with $681.7 million allocated to Metro transit, $2 million to the Gateway Arch and $25 million to St. Louis Downtown Airport. Major capital expenditures planned for this period include completion of the expanded and redesigned Civic Center Transit Center, rehabilitation of the MetroLink tunnel below Union Station, construction of a new MetroLink station at Boyle Avenue and the extension of the Central West End MetroLink platform, and upgrades to MetroLink light rail vehicles. The development of a new Tucker Theatre experience at the Gateway Arch and construction of new taxiways and other infrastructure improvements at St. Louis Downtown Airport are also included in the three-year capital budget.

The budget includes operational projections for multiple fiscal years to provide a better resource for long-range planning and strategy development. Each year, these projections will be reassessed to ensure their accuracy, and they will be evaluated and adjusted, if necessary. The budget must be approved by the Bi-State Development Board of Commissioners each year.

About Bi-State Development

Bi-State Development (BSD) owns and operates St. Louis Downtown Airport and the Gateway Arch Riverboats, as well as operates the Gateway Arch Revenue Collections Center and Gateway Arch trams. BSD is the operator of the Metro public transportation system for the St. Louis region, which includes the 87 vehicle, 46-mile MetroLink light rail system; a MetroBus vehicle fleet of approximately 400 vehicles operating on 79 MetroBus routes; and Metro Call-A-Ride, a paratransit fleet of 120 vans. BSD also operates the Bi-State Development Research Institute and the St. Louis Regional Freightway, the region’s freight district.