2013 PROP K STRATEGIC PLAN BASELINE

The 2013 Strategic Baseline served as an interim step towards a full update in 2014, pending completion
of the 2014 Prop K 5YPPs. The baseline incorporated actual revenues and expenditures (including
financing costs), updated revenue projections, updated other Strategic Plan model assumptions such as
interest costs related to debt issuance, and up-to-date de-obligations (costs savings or unneeded funds
from cancelled projects) and updated expected project cash flows (reimbursement schedules) for
existing allocations with large remaining unexpended balances. The 2013 Prop K Strategic Plan
Baseline also incorporated programming and cash flow changes for the major capital projects and the
paratransit category because 1) they are the primary drivers of financing need due to their size and 2)
they have no 5YPP requirement. The major capital projects include: 3rd Street Light Rail, Central
Subway, Transbay Transit Center, Caltrain Electrification, and Doyle Drive/Presidio Parkway. Further,
as Prop B grandfathered projects, Central Subway and 3rd Street Light Rail have their associated
financing costs covered by the program as a whole. Thus, they impact funds available for all the other
Prop K projects and programs.
 

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