Sponsor: Public Works
Title
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Use of Regional Rail Authority High Speed Rail Commission Fund Balance
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Recommendation
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Authorize the County Manager to transfer $11,424 of Regional Rail Authority High Speed Rail Commission fund balance to the 2024 Great River Rail Commission Work Plan and Budget.
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Background and Rationale
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The Great River Rail Commission (Commission) is a joint powers board established under Minnesota Statutes, Section 471.59. Member parties on the Commission include the regional railroad authorities from Ramsey County, Goodhue County, Wabasha County, Washington County and Winona County, the La Crosse Area Planning Committee, the cities of Cottage Grove, Goodview, Hastings, Lake City, Newport, Red Wing, Saint Charles, Saint Paul, Saint Paul Park, Utica, Wabasha and Winona, and Wacouta Township. Ramsey County Regional Railroad Authority serves as the fiscal agent to the Commission, using services from several County departments.
The Commission actively supported implementation of the Borealis service, a new daily round-trip passenger train operated by Amtrak between Union Depot in Saint Paul and Union Station in Chicago. The Borealis service started revenue service on May 21, 2024.
Pursuant to the members’ Joint Powers Agreement (JPA), the five regional railroad authorities and the La Crosse Area Planning Committee are financial parties, responsible for payment of dues that fund the Commission’s Work Plan and Budget, which is adopted annually by the Commission and accepted by the Ramsey County Regional Railroad Authority (RRA) Board. Revenues in prior years that were received in excess of the originally approved budget, such as insurance dividends, refunds, and contributions from partners that joined the commission after the annual budget was established, were swept into fund balance. This Board action serves to return those funds to the Commission within its 2024 Work Plan and Budget.
The Commission budget, and available fund balance, is located within the RRA High Speed Rail Commission Fund (F35105) and is presented on the Annual Comprehensive Financial Report under the Custodial Funds - Joint Powers.
More information on the Great River Rail Commission can be found at:
<https://www.greatriverrail.org/>
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County Goals (Check those advanced by Action)
☐ Well-being ☒ Prosperity ☒ Opportunity ☒ Accountability
Racial Equity Impact
The Commission advocates for the implementation of faster and more frequent passenger train service between Saint Paul, Minnesota and Chicago, Illinois. The Twin Cities-Milwaukee-Chicago Second Train Project will add another affordable and accessible travel option that is better connected to urban centers and other destinations. Demographic data for the entire service area is undetermined; however, Union Depot is the only passenger train station in the Twin Cities, serving all of Ramsey County and the entire metro area population.
Community Participation Level and Impact
The Commission discussed the draft 2024 Work Plan and Budget at their meeting on June 1, 2023 and adopted the final version at its meeting on September 7, 2023. This board action serves to inform the public of the Ramsey County RRA’s commitment to serving the Commission as its fiscal agent
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
Fund balance of $11,424 is available in the RRA High Speed Rail Commission Fund. This fund is a custodial fund and Ramsey County acts as the fiscal agent for the Commission. The available fund balance is the result of revenues in excess of the originally approved budget, such as insurance dividends, recovery of current or prior year expenditures, and/or contributions from partners that joined the Commission after the annual budget was approved.
The use of fund balance will appropriate these funds into the 2024 Great River Rail Commission Work Plan and Budget.
Last Previous Action
On April 9, 2024, Ramsey County Regional Railroad Authority accepted the Great River Rail Commission’s 2024 Work Plan and Budget and approved the payment of $16,400 to the Great River Rail Commission for its financial commitment to the 2024 Commission budget (Resolution R2024-009).
Attachments
1. Fund Statement