Budget and Financial Information
Budget and Financial Information
Our Board dedicates a substantial amount of time and energy to adopt a yearly operating budget before the beginning of each fiscal year. The budget serves as a policy document, an operations guide, a financial plan and a communication device. The board also adopts an annual capital budget. The process for developing our budgets typically begins with Board strategic planning in June or July and, through a series of meetings and analysis, results in an operating budget and a prioritized capital budget prior to the beginning of the fiscal year. Your CCRTA may not spend more than the approved operating budget, and must approve increases to the budget. The CEO may permit movement of funds within the approved budget. If these reallocations are significant, Board approval is obtained. Here you will find a Budget Summary as well as links to budgets for the last five years and ways to contact Board Members and appropriate management for questions.
Compehrensive Annual Financial Reports (CAFR)
Budget Last 5 Years
Managing Director of Operations
Director of Finance
Managing Director of Customer Services
Director of Planning
Director of Transportation
Director of Maintenance
Director of IT
Director of Safety & Security
Director of Human Resources
Managing Director of Administration
A group of amazing people like our Board of Directors deserves an introduction.
An eleven member Board of Directors governs the Corpus Christi Regional Transportation Authority (CCRTA), which was created in 1985 by the vote of the public to provide quality accessible and affordable transportation to the residents of Nueces and San Patricio Counties. The CCRTA Service Area covers 838 square miles. The CCRTA, also known as the ‘B,’ provides fixed route service, tourist, commuter, public event, and van/car pool services. Additionally, the CCRTA offers Paratransit Bus Service called B-Line, which provides shared-ride public transportation for people whose disabilities prevent them from using fixed route bus services.
Audits and Reviews
The Corpus Christi Regional Transit Authority is critical to keeping this area moving—both in a literal sense and in support of affordability, accessibility, equity and protecting our environment. The Mission that we established so many years ago, hasn’t changed. We were created by the people to provide quality transportation and enhance the regional economy in a responsible manner consistent with its financial resources and the diverse needs of the people. We know we have an incredible responsibility in helping plan for our city’s future. Each year we strive to improve our reliability as well as develop procedures, training and technologies to reduce any type of accidents. We are dedicated to planning and building a transportation network that provides excellent choices and safely connects people to the places they need to go, now and in the future. Attached you’ll find the annual reports for the last five years that chronicle our efforts and successes.
Comprehensive Annual Financial Reports
The Corpus Christi Regional Transportation Authority operates year in and year out almost constantly. The resources we employ to get our riders from destination to destination safely, and on time in the most cost-efficient ways is nothing short of daunting. We bid vendors and audit their invoices then have them justify costs whenever anything is in question. It is our duty to employ such scrutiny so that we keep the costs low for our riders. With such attention to the bottom line we have no problem opening our books to the public. In this section you will have access to financial reports, AP records and check registries for the last three years. We welcome your inspection and any questions you have based on what you find. We strive for complete transparency and honesty in all our dealings. Being accountable to the people of this area is a responsibility we don’t take lightly. We know we must earn your trust every day.
Accounts Payable Check Registers
Claims Check Registers
Annual Claims Check Registers
Vendor Annual Check Register
Vehicle Fuel Furniture Computer Equipment Lubricants
Paving & Concrete Work Bus Shelter Construction General Construction
Uniforms Shelter Maintenance Printing Landscaping Waste Disposal A/C & Heating Repair
Training Architectural Engineering General Consulting Accounting & Auditing
The employees at the Corpus Christi Regional Transit Authority are a close knit group that come to work each day living up to our high standards. The tenure of our employees obviously runs the gambit from newly hired to employees that have been with us for decades. We do whatever we can to hold onto these incredible employees, they are our best assets. Rewarding them for their passion and dedication is something we take pride in. In establishing a Pension program, we did so with the desire of financially compensating our tenured employees to the level that they so rightly deserve. Enclosed you will find our investment methodology and policies, we have also included a Summary of EDBP Eligibility and Pension Management Statements. In this way CCRTA shows the public as well as those in our organization how we value our employees for years to come.
Capital Project Financing Strategies
CCRTA utilizes a variety of methods for financing transit improvements that include fleet replacement, garage facilities, and bus stop improvement and amenities. These projects may be funded 100% by CCRTA or partially funded through a cost sharing arrangement. Cost sharing arrangements may include government grant awards or from joint developments between. Grants typically require the Authority to provide a local match ranging from 15-20%. Joint development is a strategic partnership between the public and private sectors to maximize the utility and value of the transit system. CCRTA utilizes current revenues for project costs that are expected to be completed within the current budget year. Internal reserves for funding large, multi-year projects have been established by Board approved reserve policies to address the capital needs of the Authority.
Long-term debt is only used to source financing for authorized multi-year infrastructure related projects as in the case of the revenue bonds that were issued to fund the new Customer Service Center and transfer station projects.
Debt Obligations. Financing Structure and Purpose
The revenue bonds are serial bonds maturing in 25 years and are issued in $5,000 units with staggered maturity date. The first optional call date for these bonds is December 1, 2024.
To view the bond contract, click here.
Series 2013 (AMT) Tax-Exempt Revenue Bonds – $11,525,000
- Renovation of the existing Staples Street bus transfer station.
- Construct and equip a portion of a new multi-use building adjacent to the Staples Street bus transfer station, and.
- Construct a new parking lot to serve the Staples Street bus transfer station and the multi-use building, and;
- Pay the costs of issuing the Tax-Exempt Bonds.
Series 2013 Taxable Revenue Bonds – $10,500,000
- Construct and equip a portion of a new multi-use building adjacent to the Staples Street bus transfer station and.
- Pay the costs of issuing the Taxable Bonds.
The multi-uses of the facilities being constructed called for a financing structure that would include both taxable and tax-exempt revenue bonds.
The 25-year bonds are first lien revenue bonds, and will be repaid, semi-annually from the pledged operating revenues of the Authority. Pledged revenues, as defined by the bond resolution, include the net operating revenues, plus any additional revenues, income, receipts, or other revenues which are pledged by the issuer. The interest rates adjust periodically during the life of the bonds.
S&P Underlying Rating (SPURs) affirmed its ‘A+’ rating on the Corpus Christi Regional Transportation Authority (CCRTA), Texas ‘ series 2013 system revenue bonds. At the same time, S&P affirmed ‘A+’ issuer credit rating (ICR) on CCRTA.
To view the S&P report click here
CCRTA will provide certain updated financial information and operating data to EMMA (Electronic Municipal Market Access) annually. EMMA is a service of the Municipal Securities Rulemaking Board which is the official repository for information on virtually all municipal bonds providing free access to official disclosures and other data about the municipal securities market.
Revenue Recovery Ratio/Debt Capacity
The revenue recovery ratio measures the cash available from operating revenues to the current debt obligation of interest and principal payments. A ratio greater than 1 means there is sufficient funds to cover the annual debt payment. CCRTA began repaying the debt in 2014 and since then has maintain a revenue recovery ratio greater than 1.
AGGREGATE PAYROLL EXPENDITURES
CONTRACTS & PROCUREMENT SUMMARY
Corpus Christi Regional Transportation Agency (CCRTA) Procurement Department is tasked with working with all of CCRTA departments to purchase goods and services that support our goals, vision and value.
Our duty is to instill integrity into all aspects of the procurement process and make them as fair, accountable and efficient as possible.
In the Fiscal Year 2017, CCRTA spent a total of 3,998,058.30 on procurement and contracting activities. That signifies $11.06 per capita (per resident) based on the Nueces County Texas Government’s 2016 population estimate of 361,350. In the FY 17, the CCRTA publicly posted 12 competitive bidding and contracting opportunities, of that 8 were awarded, which represents a total of $3,045,467.80 in awarded contracts.
Total dollar amount of bids received from invitations for bids or request for proposals: $15,223,510.41.
Transparency in public procurement at CCRTA means that information on the public procurement process is available to everyone: contractors, suppliers, service providers and the public at large unless there are valid and legal reasons to keep certain information confidential.
When a public procurement requirement is published or made available to the market by any means (electronically, press, internet portal, etc.), the announcement will contain sufficient details for interested contractors, suppliers and service providers to compete for the job.
Please follow the instructions contained in the procurement request documents.