Title:
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Approve/Propose amendments to the Central Florida Commuter Rail Commission’s Tentative Budget for FY2025-26. Countywide. (Kristian Swenson, Assistant County Manager)
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Division:
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County Manager Office
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Authorized By:
Lorie Bailey Brown, CFO, Resource Management Director
Contact/Phone Number:
Lorie Bailey Brown/407-665-7176
Background:
On March 26, 2024, the Seminole County Board of County Commissioners (“Board”) approved the Third Amendment to Interlocal Governance Agreement to further revise the obligation of the Local Government Partners (Orange, Osceola, Seminole, Volusia Counties and City of Orlando) to fund the Annual System Deficit of the Commuter Rail System.
On November 12, 2024, the Board approved the Locally Funded Agreement (“LFA”) between the State of Florida, Department of Transportation (“FDOT”) and the Central Florida Commuter Rail Commission (“CFCRC”), providing a mechanism of funding SunRail as of December 31, 2024, the Financial Transition Date.
For calendar year 2025, the LFA provides an estimated CFCRC budget of $65,344,339 and Seminole County’s allocation is $12,098,668. For calendar year 2026, the LFA provides an estimated CFCRC budget of $61,785,926 and Seminole County’s allocation is $11,338,104.
The operating and capital budget information provided by FDOT was used to prepare the tentative CFCRC budget for FY26 of $73,728,598. The tentative budget is comprised of $250,000 interest income, $10,000,000 State of Good Repair funds, and Local Government Partner contributions of $63,478,598. Seminole County’s allocation is $11,559,833, which is a 2% increase ($221,729) over the estimated allocation for 2026 in the LFA.
In accordance with the Third Amendment to the Interlocal Governance Agreement, on or prior to May 15, each Local Government Partner is entitled to propose amendments to the CFCRC’s tentative annual budget. Such proposals must be presented to the CFCRC at the next monthly meeting for consideration. If, for any reason, a Local Government Partner fails to make all, or any portion of the quarterly payment required, the difference between the required quarterly payment and the actual amount paid shall be taken by FDOT from the Work Program in the geographic area of such Local Government Partner and paid to the CFCRC.
The FY26 Tentative Budget and the presentation of the Tentative Budget provided to the CFCRC is included with this agenda item.
Requested Action:
Staff requests the Board approve or propose amendment to the Central Florida Commuter Rail Commission’s Tentative Budget for FY2025-26.