{"response":{"docs":[{"id":"dlg_ggpd_y-ga-bt730-b-pa1-b2001-belec-p-btext","title":"Annual report [2001]","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia Regional Transportation Authority."],"dcterms_spatial":["United States, Georgia, 32.75042, -83.50018"],"dcterms_creator":["Georgia. 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Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-bt730-b-pa1-b2001-belec-p-btext"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-bt730-b-pa1-b2001-belec-p-btext"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"01 \nGeorgia Regional Transportation Authority Annual Report \n \n Contents \n \n1 Mission and Vision Statements \n \n2 Letter from the Chairman \n \n3 Letter from the Executive Director \n \n4 Board of Directors \n \n5 Goals and Objectives \n \n6 History GRTA 2001 MILESTONES \n \n8 Getting on the Road C-Tran/Quicklink/Land Use Reviews: Policy and Procedures for Developments of Regional Impact (DRIs) \n10 Getting in the Fast Lane-- The Transportation Choices Initiative Arterial Road Improvements/Northwest Corridor Transit Line/ Commuter Rail/Regional Express Bus/Commuter Bus/Regional Vanpool/Activity Center Circulator Systems (ACCESS) \n12 Setting the Pace for Regional Stewardship Atlanta's Transportation Improvement Program (TIP)/Atlantic Station Green Light Team/Buckhead Transportation Management Association (BATMA)/Citizens' Academy/Georgia Joint Federal Transit Agenda/ Annual Air Quality Report/GRTA State \u0026 Regional Cabinet/ GRTA Performance Measures/The Clean Air Campaign \n17 Mapping the Future The Regional Transit Action Plan/ The Perimeter Circulator Study/ Northern Sub-Area Study \u0026 GA 400 Corridor Analysis/Value Pricing Task Force/ SMARTRAQ/Alternative Fuel Infrastructure Projects/ Atlanta Heavy-Duty Vehicle and Equipment Emissions Study \n \n Georgia Regional Transportation Authority/ Governor's Development Council \n \nVision Statement \nThe Authority will work to plan and implement a transportation system that is multi-modal, seamless, and accessible to all citizens. \nThe Authority will encourage land use policies that promote efficient use of infrastructure investments. \n \nMission Statement \nIt is the mission of GRTA/GDC to provide the citizens of Georgia with transportation choices, improved air quality, and better land use in order to enhance their quality of life and promote growth that can be sustained by future generations. \n \nThe Authority will operate within a decision-making framework that values public participation and connects transportation choices, land use and the overall Quality of Life. \n \nThe Authority will serve the best interests of the region by working in cooperation with other agencies \ntransportation choices and governments that are involved in planning and transportation. \nThe Authority will measure its effectiveness in improving air quality, traffic, accessibility and land use. \n \nimprove air quality \n \nbetter land use \n \nenhance quality of life \n \npromote sustainable growth \n \n To the People of Georgia \nThe Board of Directors of the Georgia Regional Transportation Authority (GRTA) is leading this agency into a new era of infrastructure development and economic prosperity for the Metropolitan Atlanta region and the State of Georgia. \nAs a member of this Board since its inception, and its Chairman for the most part of 2001, I am proud to see this 15-member Board come together in its formative years and forge a team representing diverse backgrounds and working on a common mission. \nIn his executive order appointing the Board of Directors in June 1999, Governor Roy E. Barnes said the purpose of GRTA is \"to address in a comprehensive manner the coordination, planning, construction and operation of transportation systems and facilities in federal nonattainment areas of this state with the goal of improving quality of life in the 21st century by increasing the efficiency of transportation systems and reducing overall vehicle emissions.\" \n \nWe take this responsibility seriously. As you can see from the pages to follow, GRTA has hit the ground running by establishing new transportation services, such as the C-Tran Clayton County bus service, working with the private sector to provide the electric shuttle for the Buckhead Transportation Management Association, establishing a new level of public accountability with a series of performance measures and implementing ground-breaking land use guidance with our Development of Regional Impact Review Policy and Procedures. Another important accomplishment was the development of a \"Green Light Team\" to forge a partnership between public and private sector to keep the innovative Atlantic Station mixed-use project on track. \nAs we begin a new year, we are on the cusp of an exciting and dramatically new time for the Atlanta region as we begin to implement part of Governor Roy Barnes' $8 billion Transportation Choices Initiative in cooperation with the Atlanta Regional Commission, the Georgia Department of Transportation (GDOT), \n \nthe State Road and Tollway Authority (SRTA), the Metropolitan Atlanta Rapid Transit Authority (MARTA) and the cities and counties of our 13-county region. \nIn November 2001, our Board reorganized its structure to establish better policy guidance and oversight for what lies ahead. We intend to make our mark \"the GRTA way\" based on quality and efficiency, customer satisfaction, fairness, public empowerment, openness and accountability, a collaborative and partnering nature and a clear, 360-degree vision. \nThese are our watchwords. On behalf of the Board of Directors, I ask you to join us in a commitment to this region and state to enhance our quality of life and promote growth that can be sustained by future generations. All aboard! \nSincerely, \nWalter \"Sonny\" Deriso Chairman Board of Directors GRTA \n \n0 2 \n \n To Supporters of Improved Mobility and Air Quality \nWelcome to the inaugural Annual Report of the Georgia Regional Transportation Authority. I hope that you will find this report useful in demonstrating where we have been in our short two years since our creation by Governor Roy E. Barnes and the Georgia General Assembly, and where we are going. \nOur mission is \"to provide the citizens of Georgia with transportation choices, improved air quality and better land use to enhance their quality of life and promote growth that can be sustained by future generations.\" So how do you we get there? \nFirst, we work hard to win approval of a Transportation Improvement Program (TIP) for the Atlanta region that conforms to the Clean Air Act and other federal law. Mission accomplished, July 2000. \nSecond, we lay the groundwork for how a new agency like GRTA will operate, and most important, hold itself accountable. We have instituted a set of performance measures that will be our yardsticks on air quality improvements, mobility, jobs access, safety and other measures as we begin to implement new transportation services. We will keep a minimum staff and operating budget, putting our resources mostly into projects. We will have an open, clearly visible method of operating by webcasting our Board meetings. \n \nThird, we give people clean-fuel transportation choices that do not worsen air pollution and over time will begin to reduce levels of nitrogen oxide, which helps form the groundlevel ozone that is our most common form of air pollution in Atlanta. \nIn 2001 we were getting on the road, launching the first new bus service in metro Atlanta in 12 years with C-Tran and beginning the Maconto-Atlanta commuter bus service with the Greyhound Quicklink. We are getting in the fast lane with the Transportation Choices Initiative-- rail, express and commuter bus, shuttle systems and major arterial road improvements--on line a lot sooner than expected even a year ago. We are mapping the future with new investment studies of the GA 400 corridor and sub-area, a Northwest transit line, improved traffic circulation for the Perimeter Center area and a Regional Transit Action Plan that will be the blueprint for a convenient, reliable and truly regional transit system. Finally, we are setting the pace for regional stewardship by moving along the biggest Transportation Improvement Program in the \n \nAtlanta region's history, setting performance targets and reaching out to citizens and elected officials in the region and state to ensure that they are on board with our activities. \nWe want to get from our homes to our jobs, our schools and other destinations without delay. We need our communities to be connected by a safe, efficient system of roads, highways, busways and rail lines. We must--if we can't or don't want to drive--be able to get in a vanpool, on a bus or on a train and go where we need to go. Most of all, we must have clean air. Our goal is a balanced transportation system that serves the needs of the people of Georgia. \nTo put it simply, when you wake up in the morning and want to drive to work--you can. If you don't want to drive--you don't have to! The choices will be there. \nSincerely, \nDr. Catherine L. Ross Executive Director GRTA \n \n0 3 \n \n GRTA Goals and Objectives \nGoal One: Improve Air Quality Defined as: The increase in the number of days per year in the \"good\" and \"moderate\" range and the decrease in the severity of \"bad\" air days. \nObjectives  Minimize the negative impacts \nof motorized transportation on air quality.  Increase accessibility to and use of walk, bike, carpool, vanpool, bus or rail transportation options, especially clean fuel options. \nMeasures  Air Quality Index (under \ndevelopment with EPD).  Percentage of low emission \nvehicles in public fleets.  Regional VMT (vehicle miles \ntraveled) and VMT by county (methodology to be determined). \nGoal Two: Improve Mobility and Accessibility Defined as: The need to move people and goods throughout the region, taking into consideration: \n Choices (highway, transit, bicycle and pedestrian systems), \n Accessibility (ability to travel between different activities by highway, transit, and other modes), \n Travel time (highway and transit),  Reliability (highway incidents and \ntransit on-time performance),  Safety. \nObjectives  Increase accessibility to and use \nof bus and rail transportation options.  Improve user mobility and accessibility on all transportation modes.  Encourage diverse and complementary land uses that increase the \n \nopportunity for transportation options.  Provide transportation options throughout the region.  Enhance the efficiency and effectiveness of the transportation system for users, including travel time, transfers between modes and reliability.  Develop and promote safety for all modes in the land transportation system.  Minimize transportation system user costs.  Increase the availability of information about transportation options. \nMeasures  Total transit ridership.  Total lane miles of HOV facilities.  Number of miles of designated \nbicycle facilities.  Total number of vanpools in \noperation.  Average travel time per trip \n(highway and transit).  Total duration of highway and \ntransit incidents.  Transit on-time performance. \nGoal Three: Improve the coordination of land use (the built and natural environments) and transportation decisions. Defined as: Developing regional planning processes to consider land use decisions in relation to regional transportation investments, such that neighborhoods, environmentally sensitive areas and vital regional corridors are protected. \nObjectives  Improve accessibility to jobs and \nessential activities and services.  Encourage diverse and complemen- \ntary land uses that increase the opportunity for transportation options. \n \n Protect neighborhoods, transportation corridors, and transportation investments while supporting appropriate development adequately served by existing or planned transportation infrastructure. \n Minimize development in environmentally sensitive areas. \nMeasures  Percentage of population within \n.25 mile of a bus route.  Percentage of employment within \n.25 mile of a bus route.  Percentage of population within \n.5 mile of a rail transit station.  Percentage of employment within \n.5 mile of a rail transit station.  Percentage of population within \n5 miles of a designated park and ride facility. \nGoal Four: Improve Equitable Transportation Defined as: Striving to provide opportunities for community involvement and acceptable levels of mobility to everyone while minimizing disproportionate negative impacts of transportation decisions. \nObjectives  Increase accessibility to and use \nof bus and rail transportation options.  Improve user mobility and accessibility on all transportation modes.  Improve accessibility to jobs and essential activities and services.  Increase public involvement opportunities.  Consider the benefits and burdens of regional transportation investments. \nMeasures  Number of opportunities for public \ninvolvement (meetings, presentations, written comments, etc.). \n \n0 4 \n \n Board of Directors \nGeorgia Regional Transportation Authority \n \nWalter M. \"Sonny\" Deriso Chairman \n \nSharon A. Gay Vice Chair \n \nAndrella Baylis \n \nSteven F. Bruning, PE \n \nTim Connolly \n \nEric R. Hovdesven \n \nShi Shailendra \n \nJohn A. Sibley III James E. Stephenson \n \nKen F. Thigpen \n \nRichard L. Tucker \n \nMichael Tyler \n \nCarolyn Williams \n \nJohn Williams \n \n0 5 \n \n Establishing the Georgia Regional Transportation Authority \nCourtesy Brian O'Keary \n \nSurging population growth, rapidly expanding commercial and residential development, limited transportation alternatives to the single-occupant vehicle, and one of the highest ratios of miles traveled per vehicle in the country threaten Metropolitan Atlanta's continued high quality of life. With 1.1 million new residents in the past decade, the region grew the fourth fastest of any metropolitan area in the United States. The region includes three of the four fastest growing counties in the nation outside the West. \nThe growth in population, and resulting traffic, has kept the 13county region's air quality classification as \"serious\" for nitrogen oxide, a key component in ground-level ozone known as \"smog.\" The region pumps about 214 tons of nitrogen oxide a day into the atmosphere. In 2000, the region ranked sixth in the nation in the number of days the air exceeded safe ozone standards. \nThe problem reached a crisis in 1997 when Federal transportation funding for the region was cut off because the region could not win Federal approval of a transportation program that could conform to the air quality requirements of the federal Clean Air Act. \nActing in response to the crisis, Georgia Governor Roy E. Barnes called on the state Legislature to create a new transportation agency for the region that would have powers to establish new transportation services, control regionally significant private \n \nand public developments and review transportation planning in the region. The Legislature approved Senate Bill 57, creating the Georgia Regional Transportation Authority in March 1999, and the governor appointed its 15-member Board in June. \nUnder the law, GRTA has the authority to manage, or cause to be managed, transportation and air quality in areas of Georgia that are in nonattainment of federal air quality standards, currently 13 counties in Metropolitan Atlanta. The governor may delegate to GRTA his authority to approve the Transportation Improvement Program (TIP) for the region. The GRTA Board also serves as the Governor's Development Council statewide for purposes of implementing the State Planning Act. \nIn addition, no local government may spend state or Federal funds for transportation services, or access to, a Development of Regional Impact (DRI) unless approved by GRTA. This responsibility allows GRTA to promote compliance with regional transportation plans. \nIn June 1999, the Georgia Department of Transportation settled a federal environmental lawsuit filed by the Georgia Conservancy, the Sierra Club and Georgians for Alternative Transportation, challenging 61 road projects in the Atlanta Region. Under the terms of the settlement, 17 projects were allowed to proceed. Further new construction waited on the approval of a new TIP. In June 2000, GRTA approved a new TIP and helped win approval of the 2001 2003 TIP by the U.S. Department of Transportation a month later. \n \n0 6 \n \n Former GRTA Chairman Joel Cowan (seated on left) and Clayton County Commission Chairman Crandle Bray \n(seated on right) sign the GRTAClayton County contract for GRTA to \noperate a local bus service in the county as Governor Roy E. Barnes (far left) looks on. Members of the Clayton County Commission, state legislators and GRTA Board members attended the historic occasion in the \nstate Capitol in February 2001. \nGRTA 2001 MILESTONES \n \n Getting on the Road \n \nC-Tran A 12-year drought of new mass transit service for metropolitan Atlanta ended October 1, 2001, when 12 clean-fuel buses began rolling in Clayton County as the new GRTAprovided C-Tran bus service began operations. Fourteen months after Clayton County voters said they wanted local bus service, GRTA responded to the Clayton County Board of Commissioners' request by purchasing the initial bus fleet and contracting with MARTA for drivers and facilities. \nThe initial C-Tran fleet includes 12 ADA-compliant, 43-passenger buses. These vehicles travel along two regular routes covering the cities of Riverdale, Forest Park, Jonesboro, Morrow, Lake City, and portions of College Park. Additional services are provided to activity centers of Clayton College and State University, Southlake Mall, and the Southern Regional Medical Center. Both routes connect to the MARTA rail system at Atlanta Hartsfield International Airport. \nSince the launch, ridership has exceeded all expectations. In the first morning of operation, 830 passengers boarded the buses at Hartsfield Airport, the busiest station for both routes. By early November, ridership had increased to more than 1,400 passengers per weekday. \nOver the next three years, the fleet will grow to 36 buses and three additional routes will be added, possibly including an express route to downtown Atlanta. \n \nQuicklink A month after introducing C-Tran, GRTA responded with further congestion relief for the busy Interstate 75 corridor with an innovative private/ public partnership between GRTA and Greyhound Lines, Inc. The Quicklink commuter bus service runs between Macon and Atlanta with two stops in Henry County and one in the City of Forsyth. Quicklink provides four buses with eight weekday travel options, giving middle-Georgians a transportation alternative for their long commutes. \nBuses began rolling on November 12, 2001, providing riders safety, reliability, and long-term savings. After leaving downtown Macon, the buses briefly pull off I-75 exits in the cities of Forsyth, Locust Grove \n \nABOVE Members of the GRTA Board of Directors and the Clayton County Commission gather to cut the ribbon and launch C-Tran--the first local bus service in Metro Atlanta in 12 years. \nLEFT Lt. Governor Mark Taylor (on right) was the featured speaker for the Quicklink kick off in November. GRTA Executive Director Ross greets him at the podium. Greyhound Lines President and CEO Craig Lentzsch (far left) and Locust Grove Mayor Lorene Lindsey joined them on the grounds of the State Capitol in November 2001. \nand McDonough and then roll on to Hartsfield Atlanta International Airport. There are five stops in Atlanta, including the Sam Nunn Federal Building area, the MARTA Five Points station and Midtown. The Greyhound buses include comfortable upgrades with added legroom, seat trays and cup holders. Riders receive complimentary newspapers and all buses are wheelchair accessible. \n \n0 10 \n \n In addition to convenience for commuters, the buses help improve air quality in Metro Atlanta. Each fully loaded bus means more than 31 single-occupant vehicles are not on the road. \nLand Use Reviews: GRTA's Policy and Procedures for Developments of Regional Impact Transportation investments that fail to consider the associated impact of land use are a major contributor to increased air pollution and traffic congestion, according to most transportation planning experts. Unchecked, automobile-dependent development ultimately leads to more vehicle travel and air quality problems. GRTA was created \"for the purposes of managing or causing to be managed land transportation and air quality within certain areas of this state... .\" To carry out this responsibility, the Legislature granted GRTA the power to review major projects known as Developments of Regional Impact (DRIs), in order to determine, and potentially control, their impact on transportation and air quality. State and federal funding for transportation services to such projects are prohibited unless the funding is approved by GRTA. As a check on this power, the local county commission may overturn a GRTA decision on a DRI if at least three fourths of the commissioners vote to do so. \nIn November 2001, the GRTA Board of Directors adopted the GRTA Policy and Procedures for Review of Developments of Regional Impact, setting the stage for implementing one of the more far-reaching and innovative transportation investment tools in the United States. \nThe GRTA review criteria address the extent to which a proposed DRI is likely to improve or worsen regional mobility and air quality. The review \n \ncriteria primarily address trip generation, reduced trip lengths and use of alternative modes of transportation as a means of improving and/or avoiding adverse impacts on regional mobility and air quality. \nThe GRTA Board's DRI Committee developed the policies and procedures over the period of a year, dramatically shortening a process from concept development to implementation that usually takes two to three years. A nationally recognized land use expert was brought in to provide technical advice. Three series of extensive workshops were held with local business groups, governments, Regional \n \nDevelopment Center (RDC) staffs and technical experts. The final product represents input from a variety of interests and achieves the goal that the process be conducted in parallel and in coordination with the current RDC reviews as much as possible. Before final implementation in January 2002, an additional series of public meetings was held with local governments to go over the procedures. \nIn addition to the transportation impact analysis, in 2002 GRTA staff will recommend to the Board DRI criteria for an air quality analysis. \n \nThe GRTA Policy and Procedures for reviewing Developments of Regional Impact emphasize criteria that promote \"live-work-play\" communities which reduce traffic generation and enhance air quality. \n \n0 11 \n \n Getting in the Fast Lane-- The Transportation Choices Initiative \n \nOn June 28, 2001, Governor Roy E. Barnes announced an eight billion dollar program to catapult Georgia transportation infrastructure investment into the fast lane for implementation over the next five years. The Governor directed about half of that funding to metro Atlanta. \nThe Governor said: \nWe all know that our existing transportation system is now facing some challenges. We've seen Atlanta's congestion problems grow from bad to worse--with other metro areas in the state not far behind. \nAnd we know that the only way we can move development into other areas of the state is to build the kinds of roads and highways that companies can use to move both products and people. \nSolving all of these problems hasn't been easy--and it probably never will be. The solutions take time, planning and most of all-- funding. That is why what we are announcing today is so incredible. We are here to tell you about the most comprehensive transportation program this state has ever seen. \nThe proposed $4 billion for the Atlanta region doubled the amount previously planned for the Transportation Improvement Program. The plan will help build a truly regional transportation system. The major components include the following: \n \nImplementing the Transportation Choices Initiative--(from left) Emory McClinton, chairman of the State Transportation Board; Dr. Ross; and Jim Croy, executive director of the State Road and Tollway Authority, confer at the state Capitol about Governor Barnes' $8 billion state transportation initiative. \nArterial Road Improvements The Atlanta region has long suffered from a poor arterial network that has resulted in more local traffic using interstate highways to move within the region. The primary cause of some of the region's worst congestion lies in this lack of infrastructure. In addition, arterial roads do not provide adequate access to transit stations in the region. GRTA proposes spending $350 million to improve key arterial roads within its 13-county jurisdiction. The project objectives will be to eliminate choke points, improve major intersections and build other improvements that will help reduce traffic congestion throughout the region. \nIn the fall of 2001, GRTA Executive Director Catherine L. Ross and her senior project manager met with each County Commission Chairman and his or her top staff to discuss their county priorities. As a result of those discussions, intergovernmental agreements will be developed in early 2002. \n \nKey to congestion relief in metro Atlanta is upgrading its system of arterial roadways. Working in close collaboration with the metro counties, GRTA is providing funds for the counties' priorities in exchange for locally funded operating assistance for the Express Bus System. \nNorthwest Corridor Transit Line Leapfrogging growth along the I-75 and I-575 corridors northwest of Atlanta continues to drive the need for alternative transportation to serve the activity centers at Cumberland, Marietta, and Town Center. A transit line connecting to the MARTA rail line at the Arts Center station in the Midtown area will provide the longsought non-highway link to this important sector of the region. \nGRTA awarded the contract for a two-year study of the Northwest corridor in August of 2001. The Northwest Connectivity Study will determine a preferred alignment for this new transit service and recommend the appropriate technology, such as light rail or bus rapid transit. \nThe governor's funding program provides $2.8 billion for the first phase of this line to be opened in late 2006. \n \n1 0 \n \n Commuter Rail In 2001 talk turned into action on the development of metro Atlanta's commuter rail service. Linking the commercial and governmental center in the heart of Atlanta to its outlying suburbs and regional activity centers --and beyond via a statewide passenger rail network--has been a long-standing goal for the region. In 2001, working in partnership with the Georgia Department of Transportation (GDOT) and the Georgia Rail Passenger Authority (GRPA), GRTA helped move that goal closer to reality. A Program Management Team (PMT), consisting of two board members each from GDOT, GRPA and GRTA and chaired by GRTA member Sonny Deriso, supervises the Georgia Rail Passenger program. GRTA Board member Sharon Gay also represented the agency on the PMT in 2001. In June, the PMT determined a Macon-to-Griffin-toAtlanta line would be the first priority and approved a preferred alignment for the route. Governor Barnes pledged $446 million in funding through his TCI for funding the line including initial construction of a Multi-Modal Terminal in downtown Atlanta. \nIn November, the federal government, which is expected to fund the lion's share of the commuter rail construction, approved the environmental documentation allowing the project to proceed. In December, the PMT approved the locally preferred alternative alignment for the Athensto-Atlanta line, beginning with a GRTA commuter bus service. \n \nRegional Express Bus The key link between the region's rail systems and suburban activity centers will be an express bus system serving all 13 counties. In conjunction with the major expansion of the region's network of High Occupancy Vehicle lanes by the Georgia Department of Transportation, the express bus system provides a transportation alternative for communities not served by passenger rail. GRTA proposes to buy the buses, build the infrastructure to support them and operate the regional express bus service for about $159 million. In December 2001, GRTA kicked off the Regional Transit Action Plan that will recommend measures to implement the express bus system in 2002. \nRegional Express Bus--GRTA proposes a system of express buses connecting all 13 counties with the MARTA rail system. \nCommuter Bus Following the lead of the pilot Quicklink commuter bus program from Macon to Atlanta, GRTA proposes a $162 million plan to provide similar commuter bus services from Athens to Atlanta and from Canton to Atlanta. In December 2001, the Georgia Rail Passenger Program Management Team recommended an early start express \n \nbus service in the Athens to Atlanta corridor to establish a customer base for the future alternative transportation service in the corridor. \nRegional Vanpool To ensure that everyone in the region has access to job opportunities GRTA will develop a regional vanpool program. This program primarily will serve people who need to travel at times outside of the traditional rush hours and in areas where an express bus service might not be feasible. \nGRTA anticipates creating a variety of partnerships with this program. Major employers are already using vanpools successfully in the region and with GRTA's help even more companies should agree to participate. GRTA will also partner with public agencies to create service in some areas and in other cases GRTA may contract with private vanpool companies to provide the service. \nThe anticipated cost for vanpool services over the next five years is $11 million. This smaller scale service addresses mobility needs that are not always appropriate for fixed route public transportation. \nACCESS Activity Center Circulator Systems Getting around the shopping and commercial center after you have arrived by passenger rail will be a lot easier with GRTA's proposed ACCESS-- Activity Center Circulator Systems. Shuttle buses will link transit centers and the major employment and shopping centers in Buckhead, Perimeter Center, Cumberland, Town Center, Hartsfield Atlanta International Airport, and Atlanta's Midtown and Downtown areas. The estimated cost of implementing this program will be $38 million over the next five years. Planning for this project will begin in early 2002. \n \n113 1 \n \n Setting the Pace for Regional Stewardship \nApproval of the 20022004 Transportation Improvement Program for the Atlanta Region \nGovernor Roy Barnes proposed the creation of GRTA as a regional agency to work across local jurisdictions to improve mobility and air quality. From left, GRTA Board member Ken Thigpen, Atlanta Regional Commission Executive Director Chick Krautler, Governor Barnes and GRTA Board member Steve Bruning discuss regional issues. \nIn November 2001, the GRTA board of directors approved the 20022004 fiscal year Transportation Improvement Program (TIP) for the Atlanta region. The $4.7 billion three-year program is the largest ever approved for metropolitan Atlanta and reflects fundamental shifts in the direction of transportation investment in the region. More than a third of the spending will be used for public transportation projects. About 30 percent is set aside for new roads, widenings and bridge and interchange improvements primarily benefiting single-occupant vehicles. Approximately 18 percent of the funding will go for High Occupancy Vehicle (HOV) lanes used for carpooling, express buses and alternative-fuel vehicles. \nThe Atlanta Regional Commission (ARC) is responsible for the development of the TIP for 10 counties in metro Atlanta. The Georgia Department of Transportation (GDOT) programs project funding for the three additional \n \ncounties in metro Atlanta (Paulding, Coweta and Forsyth) that also do not meet federal air quality standards (a condition classified as \"nonattainment\") but are not members of the ARC. The Atlanta Regional Commission prioritizes federally funded highway, public transportation, bicycle and pedestrian facilities, transportation demand management and emission reduction projects for inclusion in the TIP in consultation with state and local transportation agencies, local governments and other project sponsors. Projects in the TIP are drawn from a longer range Regional Transportation Plan that conforms to the level of air pollution permitted by the U.S. EPA. For a transportation project to receive federal transportation funds, it must be included in an approved TIP. The ARC Board approved the TIP in October 2001. \nThe GRTA Board approved the TIP on November 14, 2001. GRTA's authority to approve the TIP was delegated by the governor as provided under legislation which created the agency. \nAtlantic Station Green Light Team In 2001, GRTA continued to fashion a new model in cooperation among various government agencies, the private sector and community groups. In early 2000, Governor Barnes asked Executive Director Catherine Ross to lead a \"Green Light Team,\" an interagency group involved in re-developing the abandoned Atlantic Steel mill site on Atlanta's Westside. To turn this brownfield into a major residentialcommercial-entertainment complex requires the cooperation of several state and federal agencies and the City of Atlanta. The project will be linked to midtown Atlanta by a new, multi-modal bridge at 17th Street. \n \nThe Atlantic Station 'live-work-play' community, designed as a major new western gateway for Midtown Atlanta, will showcase transportation alternatives and in-fill redevelopment features that will be a model for new urban developments across the country. GRTA Executive Director Catherine Ross leads the Atlantic Station \"Green Light\" Committee, an interagency group that keeps the project on track. \nThe Green Light Team has kept the project on track by ensuring that the public agencies meet their commitments. GRTA staff also worked to assuage community concerns and avoid litigation. In 2001, the GRTA worked with GDOT on design changes to the bridge project to establish broader public acceptance of this new gateway to central Atlanta. \nGRTA will continue to use the \"Green Light\" model to create a new mindset of cooperation between government agencies and the private sector. \nBuckhead Transportation Management Association (BATMA) Key to the success of new transportation alternatives is not only the support but also the active involvement of the business community. GRTA is assisting the Buckhead Improvement District, through its transportation management association known as BATMA, to purchase an electric shuttle system linking MARTA's two rail stations in this premier commercial and entertainment district. \n \n141 2 \n \n GRTA Projects in the fiscal year 20022004 Transportation Improvement Program (November 2002) \n \nARC number AR 251 A, A2 AR 251 B, B2 AR 251 C, C2 AR 259 AR 259 B AR 365 A AR 365 D \nAR 365 B AR 365 E AR 365 C AR 365 F \nAR 367 A AR 367 B AR 367 C AR 368 AR 369 A AR 369 B AR 370 AB AR 371 A AR 371 B AR 375 AR 375 BE AR 385 AB AR 389 AR 390 AB AR 391, 392, 393 \n \nProject description Midtown to Town Center Fixed Guideway \nCumberland Fixed Guideway FY 0304 \nBuckhead Transportation Management Association (BATMA) Shuttle System Start-Up and Southern Coalition for Advanced Technology Earmark for Alternative Fuel Vehicle Acquisition Emory Area Shuttle System Vehicle Purchase and Southern Coalition for Advanced Technology Earmark for Alternative Fuel Vehicle Acquisition Atlantic Station Shuttle System Vehicle Purchase and Southern Coalition for Advanced Technology Earmark for Alternative Fuel Vehicle Acquisition Regional Transit Study (GRTA) Phase 13 Comprehensive Study of Regional Transit Needs \nRegional Vanpool Program (GRTA)--13-County Non-Attainment Area Perimeter Rail Circulator Analysis: Phase 12 \nNorthwest Connectivity Study \nPurchase of Clean Fuel Buses for Express Service \nPurchase of Compressed Natural Gas Buses MARTA West Line Draft Environmental Impact Study (DEIS) Purchase of Regional Express Buses Facilities to Support Express Bus Service- Year 13 \n \ncontinued on next page \n \n1 3 \n \n GRTA Projects in the fiscal year 20022004 Transportation Improvement Program (November 2002) \ncontinued from previous page \n \nARC number Project description \n \nAR 394 \n \nSmart Card Study and Implementation for Express Bus Service \n \nAR 395 \n \nAtlantaMacon Prototype Bus Service \n \nAR 396 AR 397 \n \nPurchase Vehicles for Access Program--Phase III \n \nAR 398, 399, 400 \n \nFacilities to Support Access Program-Year 13 \n \nAR 401 \n \nAccess Planning and Vehicle Specification Study \n \nAR 402 \n \nNorthwest Corridor Financing and Development Process Analysis \n \nAR 403 \n \nArterial Improvement Program Refinement Study \n \nAR 404 \n \nRegional Express Bus Congressional Earmark \n \nAR 405 \n \nRegional Smart Corridors Congressional Earmark \n \nAR 406 \n \nTrip Planning Congressional Earmark \n \nCL-AR 238AE \n \nClayton County Public Transportation System Compressed Natural Gas Bus and Paratransit Vehicles Purchase, Phase 13 \n \nCL-AR 239AB Clayton County Public Transportation System--Operations Phase 12 \n \nCL-AR 240AB Clayton County Bus System-- Eight Paratransit Vehicles and Maintenance/Support Vehicle \n \nCL-AR 241AB Clayton County Bus System-- Start-Up/Operational Planning and Paratransit Operating Assistance \n \nCL-AR 242A \n \nClayton County Bus System Bus Stop Amenities including Shelters and Benches \n \nCL-AR 242B \n \nClayton County Bus System-- Preventive Maintenance \n \nCL-AR 242C \n \nClayton County Bus System-- Fare Collection/Advanced Vehicle Locators/Radios/APC \n \n1 4 \n \n GRTA Citizens' Academy The Citizens' Academy (CA) was created as a part of GRTA's public outreach to involve citizen volunteers in the regional transportation planning process. The Academy, with more than 300 citizen members, is divided into four issue groups: air quality, transportation, \"green\" infrastructure and planning/land use. Each group has worked to develop policy recommendations, which include issue papers, reports and surveys for use by GRTA staff in specific policy areas and for consideration by the GRTA Board. \nAlternative Street Design Comprising concerned citizens, engineers and planners committed to expanding the use of safe, pedestrianand environmentally-friendly street design, this group is focusing on regional standards for street designs that accommodate pedestrian, bicycle, transit, and automobile use in urban, suburban and rural settings. For the past year, the alternative street design group has worked with area groups such as PATH to enhance alternative street design concepts for current and future regional developments. \nPublic Involvement Comprising business and other civic leaders, lay people and representatives from various grassroots organizations, the public involvement committee provides the GRTA Board of Directors and staff with policy recommendations that reflect GRTA's commitment to broad public involvement. The committee, at present, is developing a Best Practices manual and performance measures for evaluating public outreach effectiveness \n \nFormer DeKalb County CEO Liane Levitan speaks to GRTA's Citizens' Academy. The Academy uses experts and lay people to help advise the agency on air quality, transportation and land use issues. \nTransportation Greenways Project Focusing on establishing a platform for advocating a regional network for non-motorized transportation modes, the Greenways group has worked in conjunction with the Greenspace Program of the Department of Natural Resources to identify funding mechanisms for acquisition of land. Current projects include the development of a map outlining a regional network to support pedestrian use of nonmotorized transportation mode alternatives. \nRegional Performance Indicators As an advocate of regional stewardship, the effective implementation of programs to address regional concerns is a part of the planning process for GRTA. For the past year, this team of citizen experts has drafted a matrix for performance evaluation for projects ranging from air quality to public involvement. These recommendations were presented to the GRTA Board and further refined by GRTA staff as a component of the strategic planning process and internal performance measures. \n \nGeorgia Federal Transit Agenda Alternative transportation is not only a metro Atlanta solution, but also a growing need for urban areas throughout the state of Georgia. In recognizing strength in unity, GRTA joined with MARTA, the Georgia Department of Transportation Office of Intermodal Programs, Cobb Community Transit and Gwinnett County to produce a booklet, the Georgia Joint Federal Transit Agenda, in early 2001. \nThe booklet's purpose was to demonstrate to the state's congressional delegation and the powerful appropriations committees the growing need for bus transit funding in the state and to put Georgia on par with the level of funding in other states. The booklet included an overview of the growing population in the state and the need for bus funding to help reduce air pollution and congestion. Each agency provided specific project requests. As a result, the federal transportation appropriations bill provided public transportation agencies in the state $19.6 million in earmarked funding for bus and bus facilities for fiscal year 2002-- more than double the state's fiscal year 2001 total of $8.25 million. \nFor fiscal year 2002, GRTA received $6 million funding for its express bus program, $1 million for a Smart Corridors traffic technology project, and $400,000 for trip planning technology. \n \n1 5 \n \n GRTA is responsible for an annual Air Quality Report that presents a set of measures and targets to track the progress made toward improving air quality in metro Atlanta. \nGRTA Air Quality Report In January 2002, GRTA submitted to the governor its first Annual Air Quality Report, as required by GRTA's authorizing legislation. The report is the result of a collaborative effort between the staffs of GRTA and the Air Protection Branch of the Georgia Environmental Protection Division. A panel of four technical experts from across the country reviewed the report. The report provides a brief background on air quality issues in the Atlanta area and how they led to the formation of GRTA and discusses GRTA's roles and responsibilities. The report also presents a set of measures and targets developed by GRTA and its planning partners designed to track the progress made toward improving air quality in the Atlanta area. The report contains practical information to design strategies to reduce air pollution from transportation sources. Finally, the report provides an overview of existing and potential air quality related initiatives in the Atlanta area. \nGRTA will track the air quality measures during 2002 and report on progress made toward achieving the targets in the 2002 Annual Air Quality Report, which GRTA will submit to the Governor in December 2002. \n \nGRTA Executive Director's State \u0026 Regional Cabinet It always helps to hear from a variety of people who are experienced in the public arena. That was the thinking behind the establishment of the State \u0026 Regional Cabinet, composed of local elected officials who meet quarterly with GRTA Executive Director Catherine L. Ross. The 17-member Cabinet provides advice, counsel and feedback on the air quality and transportation activities of the Authority and assists Authority staff to better understand the needs and concerns of local government with regard to these issues. Representatives from the Georgia Municipal Association and the Association County Commissioners of Georgia also participate. \nGRTA Performance Measures Legislation creating GRTA requires the agency to formulate measurable targets for air quality improvements and standards within the Atlanta ozone nonattainment area. In March 2001, the GRTA Board of Directors adopted the agency's performance measures system's goals and objectives. The GRTA Performance Measures provide a regional snapshot of progress made towards goals and objectives related to air quality, mobility and accessibility, coordination of transportation and land use decisions, and equitable transportation. \nA set of performance measures, along with specific near-term and long-term targets, where quantifiable, is being developed in order to assess progress toward improving air quality, mobility and accessibility, and land use in the region. These measures are not static, but able to change, depending upon the available data, collection methodologies or the establishment of new standards. In June 2001, the board adopted preliminary air quality measures. \n \nA performance measures report will be published annually as both a technical and an educational document. The GRTA Citizens' Academy Regional Performance Indicators group will be providing citizen guidance throughout the process. Next steps include meeting with GRTA's planning partners in the region to identify data sources, and their availability for analysis by GRTA, and to begin discussion regarding a long-term data collection strategy. \nA preliminary report will be produced in 2002. \nThe Clean Air Campaign Raising awareness of air-friendly commuting options and other actions that benefit the quality of our air will contribute significantly to GRTA's success in improving our region's air quality. In Atlanta, the Clean Air Campaign serves as a clearinghouse for organizations that have programs in place to improve air quality and reduce traffic congestion. The Campaign is best known for its series of television and radio advertisements promoting alternative commuting options--actions that can contribute significantly to improved air quality. GRTA plays an active role in The Clean Air Campaign with Dr. Catherine Ross serving on its board of directors and Mr. Nayef Haddad, GRTA's manager for transportation operations, serving on the executive committee. \n \n1 6 \n \n Mapping the Future \n \nThe Regional Transit Action Plan How do you connect the current and future rail and bus transit systems in metro Atlanta into a seamless regional transportation network? How do you establish a regional fare structure that is equitable to the transit providers and affordable and convenient to the customers? How do you implement a regional express bus system for 13 counties of metro Atlanta where only five counties currently have public transportation of any kind? And, what is an equitable and practical way of financing transit operations and maintenance in this region? \n \nlaying the foundation for the future of Georgia transit \n \nOdalys Delgado, a member of GRTA's consultant team on the GA 400 project, leads a work session of its regional steering committee to recommend improvements to the major transportation corridor. \n \nFirst, develop a blueprint for the region. This is the intent of the Regional Transit Action Plan, a twoyear study that will recommend the foundations for an Atlanta regional public transportation network. Representatives from public transportation providers in the region, the Atlanta Regional Commission, the Federal Transit Administration, the metro counties and other experts serve on a steering committee to help guide the study. The study began in December 2001 and is expected to produce an implementation plan for the express bus system by the summer of 2002. Additional elements include a short-range transit action plan up to the year 2010, a longrange plan for 2025, a recommended regional fare collection strategy, and a framework for integrating local transit services into a seamless regional system. \n1 7 \n \nGA 400 \nThe Perimeter Connectivity Study One of the key activity centers in metro Atlanta is the Perimeter Center area in North DeKalb County. This center is home to one of the largest concentration of Fortune 500 company offices in the Southeast and lies at a major crossroads at Interstate 285, GA 400 and the MARTA North Springs line. The Perimeter Connectivity Study, to begin in early 2002, will evaluate fixed guide-way and bus alternatives to provide vital connecting links between MARTA stations and local trip generators within the Perimeter Center Major Activity Area. The study comprises a detailed assessment of the transportation alternatives and associated costs, along with comprehensive public input, and a detailed environmental assessment of the selected alternatives. \n \n Northern Sub-Area Study \u0026 GA 400 Corridor Analysis In 2001, GRTA, in cooperation with the Georgia Department of Transportation, began one of the most comprehensive land-use and transportation studies ever conducted of the Atlanta region. The Northern Sub-Area Study \u0026 GA 400 Corridor Analysis features a \"micro\" study of transportation alternatives for the GA 400 corridor and a \"macro\" study of the larger North Atlanta region, called the \"sub-area.\" This area is a fan-shaped section that extends from three miles west of I-75 to three miles beyond I-85 on the east and from three miles beyond GA 20 on the north to I-285 on the south. \n \nThe purpose of the study is to evaluate transportation, land use, economic growth and air quality issues in the study area; fulfill the requirements of the Georgians for Transportation Alternatives v. Shackleford legal agreement; and provide recommendations for the Transportation Improvement Program and Regional Development Plan. Workshops and public meetings were held throughout the GA 400 corridor area in the fall of 2001 to help prepare recommendations by March 2002 on near-term improvements to the GA 400 congestion and air quality problems. GRTA's consultants then will turn their attention to potential mid- and long-term transportation, land use and environmental strategies for the Northern Sub-Area. The recommendations also will include financial plans for three strategic options developed by the study. \nFinal study recommendations are expected in early 2003. \n \nGA 400 Corridor and Northern Sub-Area \n \nbringing together \n \nValue Pricing Task Force In October 2001, the Federal Highway Administration (FHWA), GRTA, and the Georgia Department of Transportation (GDOT) sponsored a one-day regional forum on value pricing, an innovative approach that applies market pricing concepts to traffic congestion problems. The forum brought together local, regional and national experts and leaders to share strategies and formulas for using value pricing as a tool for regulating transportation demand during peak hours. While there are no cookie-cutter formulas, value pricing can be applied to parking, transit passes, under-utilized HOV lanes-- even car insurance--wherever demand exceeds supply. The same concept is used routinely to purchase theater tickets and make telephone calls. \nFollowing the forum, an Advisory Task Force was convened, bringing together community and transportation leaders to discuss value pricing initiatives in the Metro Atlanta region. State Senator Gloria Butler and Terry Lawler, president of Georgians for Better Transportation, co-chair the task force. Members are currently investigating traffic congestion in Atlanta and exploring the potential of pricing and other market-based solutions in reducing traffic congestion regionally. \n \ncommunity and transportation leaders \n \nSMARTRAQ The distances between where people live, work, shop and recreate in the Atlanta region are high when compared with national averages. This high dispersion of development and lack of intermixing of uses in the Atlanta region has resulted in one of the highest vehicles miles traveled (VMT) per capita in the U.S., a distance of more than 32 miles per day in 1999. As a result, \n \n1 8 \n \n Atlantans in the 13-county study area travel, on average, more than 100 million miles a day, a distance greater than from the sun to the earth. \nTo better understand the relations between land use and transportation, GRTA, the Georgia Department of Transportation, the Federal Highway Administration, the Atlanta Regional Commission, the U.S. Environmental Protection Agency, the Turner Foundation, the U.S. Centers for Disease Control and Prevention, the Georgia Division of Public Health, the Metro Atlanta Chamber of Commerce and the Urban Land Institute formed a partnership. Its goal is to develop a framework for assessing land use and transportation policies having the greatest potential for reducing the level of auto dependence and vehicle emissions in the Atlanta metropolitan area while sustaining the economic vitality and environmental health of the region. \nConducted by researchers at Georgia Tech, SMARTRAQ will produce state of the art activity-based travel data representing travel patterns for all socioeconomic classes in the 13county Atlanta region. When matched with data from the detailed land use data bases (Geographic Information System) and a series of survey data, SMARTRAQ will produce results that will be critical in developing a comprehensive regional transportation plan and in evaluating regional land use and transportation investment policies. \n \nAlternative Fuel Infrastructure Project GRTA has joined with MARTA, Fulton County and the Clean Cities program administered by the U.S. Department of Energy to conduct a project to promote alternative fuel infrastructure in the region. In October 2001, GRTA finalized contracts for four projects:  Electric Charging Stations \nMARTA and Georgia Power will construct infrastructure to support electric vehicle chargers at nine MARTA stations.  Fulton County CNG Station Fulton County and Atlanta Gas Light Company will provide CNG (compressed natural gas) fueling at Fulton County Airport just off Fulton Industrial Boulevard.  Propane Fueling Facilities Suburban Propane and U-Haul International will install six facilities at existing designated U-Haul locations in the Atlanta area.  Buckhead Multi-Fuel Station The first facility in the Atlanta region providing three fuels: electric, CNG and propane. \nGRTA has joined with MARTA, Fulton County and the Clean Cities program under the U.S. Department of Energy to conduct a project to provide alternative fuel infrastructure in the Atlanta region. \n \nAtlanta Heavy-Duty Vehicle and Equipment Inventory Emissions Study In collaboration with the Georgia Environmental Protection Division and the Georgia Department of Transportation, GRTA is conducting a study of the potential benefits and costs of reducing emissions from heavy-duty on-road vehicles and offroad vehicles and equipment in the Atlanta area. Heavy-duty vehicles and equipment (both highway and offroad), emit significant amounts of fine particulate matter air pollution and the precursors that lead to ground-level ozone and particulate matter pollution formation in the Atlanta area. \nIn 2001, GRTA developed a scope for the study that will be conducted by a private sector consultant(s). The consultant will perform a detailed inventory of the heavy-duty on-road vehicles and off-road vehicles and equipment operating in the prospective 21-county Atlanta 8-hour ozone nonattainment area. The inventory will include the numbers, types, ages, and current and anticipated future levels of activity of the vehicles and equipment. In addition, the selected consultant(s) will utilize the inventory to develop a costbenefit analysis (e.g., dollars per ton of emissions reduced) of controlling emissions from these sources in the Atlanta region. The consultant(s) will use the results of this analysis to identify strategies and make recommendations to GRTA and the Georgia Environmental Protection Division regarding which emissions reductions strategies are cost-effective and feasible and should receive further consideration for implementation. \nThe study will be completed in 2003. \n \n1 9 \n \n Dr. Catherine L. Ross Executive Director Jim Ritchey Deputy Director \nThe Georgia Regional Transportation Authority 245 Peachtree Center Ave., NE Atlanta, GA 30303 404-463-3000 www.grta.org \n \n  The Georgia Regional Transportation Authority 245 Peachtree Center Ave., NE Atlanta, GA 30303 \n404-463-3000 www.grta.org \n \n "},{"id":"dlg_ggpd_y-ga-bt730-b-pa1-b2001-h2002","title":"Comprehensive annual financial report for the fiscal year ended June 30, 2002","collection_id":"dlg_ggpd","collection_title":"Georgia Government Publications","dcterms_contributor":["Georgia Regional Transportation Authority."],"dcterms_spatial":["United States, Georgia, 32.75042, -83.50018"],"dcterms_creator":["Georgia. 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Map and Government Information Library"],"edm_is_shown_by":["https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-bt730-b-pa1-b2001-h2002"],"edm_is_shown_at":["https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-bt730-b-pa1-b2001-h2002"],"dcterms_temporal":null,"dcterms_rights_holder":null,"dcterms_bibliographic_citation":null,"dlg_local_right":null,"dcterms_medium":["state government records","financial statements","financial records","official reports"],"dcterms_extent":null,"dlg_subject_personal":null,"iiif_manifest_url_ss":null,"dcterms_subject_fast":null,"fulltext":"GA \n-r, :,0 \n,,A-\\ :Zoo I~;tco-;;i \nGEORGIA REGIONAL TRANSPORTATION AUTHORITY \nA COMPONENT UNIT OF THE STATE OF GEORGIA \nCOMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \n -r \n..... - \nGEORGIA REGIONAL TRANSPORTATION AUTHORITY \nA COMPONENT UNIT OF THE STATE OF GEORGIA \nCOMPREHENSIVE ANNUAL FINANCIAL REPORT For The Fiscal Year Ended June 30, 2002 \nPrepared By: Finance and Administration Department \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \nTABLE OF CONTENTS \nINTRODUCTORY SECTION Letter of Transmittal .........................................................................................................3 Organizational Chart ........................................................................................................ 11 List of Principal Officials................................................................................................. 12 List of Staff Members of Finance and Administration Department ................................ 13 Vicinity Map of Metro Atlanta Nonattainment Area....................................................... 14 \nFINANCIAL SECTION Independent Auditor's Report.......................................................................................... 17 Management's Discussion and Analysis ......................................................................... 19 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets .......................................................................................32 Statement of Activities .........................................................................................33 Fund Financial Statements: Balance Sheet - Governmental Funds .................................................................34 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds ..........................................................35 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........ .36 Statement of Net Assets -Proprietary Fund ....................................................... .37 Statement of Revenues, Expenses and Changes in Fund Net Assets - Proprietary Fund ............................................................. .38 Statement of Cash Flows - Proprietary Fund ..................................................... .39 Notes to the Financial Statements ............................................................................. .40 Combining Fund Statements and Schedules: Combining Balance Sheet-Nonmajor Governmental Funds ...................................59 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds ...............................................60 Capital Assets Used in the Operation of Governmental Funds:  Comparative Schedules By Source ......................................................................62 Schedule By Function ..........................................................................................63 Schedule of Changes By Function and Asset Classification ...............................64 Schedule of Expenditures By Object and FunctionGovernmental Activities ......................................................................................65 \n- iii - \n_J__ - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \nTABLE OF CONTENTS \nSTATISTICAL SECTION Government-wide Information: Government-wide Expenses By Function .................................................................68 Government-wide Revenues ......................................................................................69 Fund Information: General Governmental Expenditures By Classification ............................................70 General Governmental Revenues By Source.............................................................71 Demographic Information: Population Growth of Counties in Nonattainment Ara Comparison of 2000 and 1990 Census Data........................................................72 Member Counties ofthe Atlanta Regional Commission (ARC)Calculation of Population Density (Persons Per Acre)Comparison of2000 and 1990 Data ..............................................................73 Atlanta Metropolitan Area Miscellaneous Transportation Statistics ..............................................................74 \nCOMPLIANCE SECTION Report on Compliance and On Internal Control Over Financial Reporting Based Upon An Audit of Financial Statements Performed in Accordance with Government Auditing Standards ...................................................77 \n- iv - \n \n INTRODUCTORY SECTION \n-1- \n \n (.~--AGeo,g;a Regfonal TransportaUon AuthorHy \nNovember 6, 2002 \nMr. Walter M. \"Sonny\" Derise, Chairman, Members of the Board of Directors, And the Citizens of the State of Georgia \nLadies and Gentlemen: \nThe Georgia Regional Transportation Authority's enabling legislation, Senate Bill 57, requires that it issue annually a report on its financial position and activity. That statute also contains a requirement that this report be audited by an independent auditing firm selected by the Board of Directors on or about the end of the State of Georgia's fiscal year. Pursuant to those statutory requirements, we are pleased to present the Comprehensive Annual Financial Report of the Georgia Regional Transportation Authority (Authority/ GRTA) for its fiscal year ended June 30, 2002. \nThis report consists of management's representations concerning the finances of the Georgia Regional Transportation Authority. Consequently, management assumes full responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures. To provide a reasonable basis for making these representations, management of the Authority has established a comprehensive internal control network that is designed both to protect its assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the Georgia Regional Transportation Authority's financial statements in conformity with generally accepted accounting principles (GAAP). Because the cost of internal controls should not outweigh their benefits, the Georgia Regional Transportation Authority's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert, that to the best of our knowledge and belief, this financial report is complete and reliable in all material respects. \nThe Georgia Regional Transportation Authority's financial statements have been audited by the Georgia Department of Audits and Accounts. The goal of the independent audit was to provide reasonable assurance that the financial statements of the Georgia Regional Transportation Authority for the fiscal year ended June 30, 2002, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unqualified opinion that the Georgia Regional Transportation \n245 Peachtree Center Avenue, NE Suite 900 \nAtlanta, Georgia 30303-1223 404-463-3000 \n404-463-3060 fax wv:w:,~a.org \n \n Authority's financial statements for the fiscal year ended June 30, 2002, are fairly presented in conformity with GAAP. The independent auditor's report is presented as the first component of the financial section of this report. \nThe independent audit of the financial statements of the Authority was part of a broader, federally mandated \"Single Audit\" designed to meet .the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government's internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards. These reports can be found in the \"Single Audit Report ofthe State ofGeorgia\". \nGAAP require that management provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (MD\u0026A). This letter of transmittal is designed to complement the contents of the MD\u0026A and thus should be read in conjunction with it. The Georgia Regional Transportation Authority's MD\u0026A can be found immediately following the report of the independent auditors. \nOVERVIEW OF THE COMPREHENSIVE ANNUAL FINANCIAL REPORT \nThis Comprehensive Annual Financial Report (CAFR) is prepared such that it can be used and understood by a broad array of people. Toward that end, this report is presented in four sections: Introductory, Financial, Statistical and Compliance. \n1. The Introductory Section - The purpose of this section, which is unaudited, is to introduce the reader to the repo_rt and provide some general information about the operations of the GRTA. Included in this part of the CAFR are this transmittal letter, a vicinity map, an organization chart and list of the principal officials. \n2. The Financial Section - This section provides all of the financial information about the Authority. It contains the independent auditors' report; management's discussion and analysis; basic financial statements, and the combining statements for nonmajor funds. The reader will also find other schedules that provide detail information relative to the basic financial statements. \n3. The Statistical Section - The statistical section provides selective financial, economic and demographic information about the State of Georgia and the ambient air quality nonattainment area for which the Georgia Regional Transportation Authority is responsible. This information provides the user with relevant historical operating data and identifiable trends that can be extrapolated over future periods. \n4. The Compliance Section - This last section primarily relates to the federal grant monies that are received by GRTA. The Single Audit Act requires that the independent auditor report on the government's system of internal controls and its compliance with the legal requirements set forth by the various grantor agencies. The required report from the auditors is found in this section. \n-4- \n \n PROFILE OF THE GEORGIA REGIONAL TRANSPORTATION AUTHORITY \nThe Georgia Regional Transportation Authority was created in March 1999, under the auspices of Senate Bill 57 and given the power to establish new transportation services, control regionally significant private and public developments, and review transportation planning in the region. In June 1999, the Governor appointed the initial 15 member board of directors and GRTA began operating as a new entity. Under its enabling legislation, the Georgia Regional Transportation Authority has the authority to manage, or cause to be managed, transportation and air quality in areas of Georgia that are in nonattainment of federal air quality standards. Currently, that area includes the following 13 counties located in the Metropolitan Atlanta region: Cherokee, Clayton, Cobb, Coweta, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, Paulding, and Rockdale. \nThe Georgia Regional Transportation Authority is an instrumentality of the State of Georgia and is a body corporate and politic. The overall management of the business and affairs of the Authority is vested in a Board of Directors. The fifteen members that comprise the Board serve on a part-time basis and are appointed by the Governor for specific periods of time with the terms of appointment being staggered. The Board of Directors appoints an Executive Director who is responsible for the day-to-day operations of the Authority. \nMAJOR INITIATIVES OF THE AUTHORITY \nDue to unprecedented growth, the lack of regional planning and inadequate funding in the past, the Atlanta region finds its roads stretched beyond their capacity. An undesirable byproduct of those congested roadways has been the failure of the area to attain compliance with the ambient air quality standards established by the federal government. As a result of that failure, Federal transportation funding for the region was withheld in 1997 because the region could not win Federal approval of a transportation program that could conform to the air quality requirements of the Clean Air Act. \nIn an attempt to quickly address this financial and environmental crisis, Governor Roy E. Barnes called on the State Legislature during their 1999 session to create the Georgia Regional Transportation Authority and they responded accordingly. In the executive order appointing the Board of Directors in June 1999, Governor Barnes indicated that the purpose of GRTA was \"to address in a comprehensive manner the coordination, planning, construction and operation of transportation systems and facilities in federal nonattainment areas or this State with the goal of improving quality of life in the 21 st century by increasing the efficiency of transportation systems and reducing overall vehicle emissions.\" \nIn the three short years since its inception, the Georgia Regional Transportation Authority has quickly begun to tackle Atlanta's transportation problems and address the air quality issue. Several of the major initiatives that were undertaken during the Authority's fiscal year ended June 30, 2002 are identified individually in the discussion that follows. As you will see from some of the projects that were initiated during the year, a great deal of effort is being spent to provide an overall framework for transportation systems in the Atlanta area and to identify the best possible solutions for the citizens of Georgia. \n-5- \n \n Clayton County Bus Service (C-Tran) \nA 12-year drought of new mass transit service for Metropolitan Atlanta ended on October 1, 2001, when 12 clean-fuel buses began rolling in Clayton County as the new GRTA-provided C-Tran bus service began operations. Only fourteen months after Clayton County voters said that they wanted local bus service, the Georgia Regional Transportation Authority responded to the Clayton County Board of Commissioners' request by purchasing the initial bus fleet and contracting with the Metropolitan Atlanta Rapid Transit Authority (MARTA) for drivers and bus maintenance facilities. \nThe initial C-Tran fleet includes 12 ADA-compliant, 43-passenger buses which serve two regular routes. Both routes connect to the MARTA rail system at the Atlanta Hartsfield International Airport. Over the first year of operation, ridership has been more than twice as much as the initial projections. And during the next three years, the fleet is programmed to grow to 36 buses with three additional routes being added. An express bus route to downtown Atlanta is also being studied as one possible option. \nQuickLink Bus Service \nOne month after introducing C-Tran, the Georgia Regional Transportation Authority responded with another program to provide congestion relief for the busy Interstate 75 corridor. An innovative private/public partnership between GRTA and Greyhound Lines, Inc., called QuickLink, provides commuter bus service between the cities of Macon and Atlanta. \nThe QuickLink commuter bus service runs between Macon and Atlanta with two stops in Henry County and one in the City of Forsyth. QuickLink provides four buses with eight weekday travel options, giving middle-Georgians a transportation alternative for their long commutes. The Greyhound buses include comfortable upgrades with added legroom, seat trays and cup holders. Riders also receive complimentary newspapers and all buses are wheelchair accessible. \nNorthwest Corridor Connectivity Study \nTremendous growth along the 1-75 and 1-575 corridors northwest of Atlanta continues to drive the need for alternative transportation to serve the activity centers at Cumberland, Marietta and Town Center. A transit line connecting to the MARTA rail line at the Arts Center station in the Midtown area will provide the much needed non-highway link to this important sector of the reg10n. \nIn August of 2001, GRTA awarded a contract to a consulting firm to perform an in-depth transportation study of the Northwest corridor that will take about two years to complete. The Northwest Connectivity Study will determine a preferred alignment of this new transit service and recommend the appropriate technology, such as light rail or bus rapid transit, to meet the transportation needs of this corridor. As a way of expediting the project, GRTA has also contracted with the consultants to assist with the preliminary environmental impact studies that are required by the federal government. \n-6- \n \n Northern Sub-Area Study \u0026 Ga 400 Corridor Analysis \nIn concert with the vision of the Northwest Connectivity Study, GRTA, in cooperation with the Georgia Department of Transportation, began in 2001 one of the most comprehensive land-use and transportation studies ever conducted of the Atlanta region. The Northern SubArea Study \u0026 Ga 400 Corridor Analysis features a \"micro\" study of transportation alternatives for the Ga 400 corridor and a \"macro\" study of the larger North Atlanta region, called the subarea. This area is a fan-shaped section that extends three miles west of I-75 to three miles beyond I-85 on the east and from three miles beyond Ga 20 on the north to I-285 on the south. \nThe principal purposes for conducting this study were to evaluate transportation, land use, economic growth and air quality issues in the study area; fulfill the requirements of the Georgians for Transportation Alternatives V. Shackleford legal agreement; and provide recommendations for the Transportation Improvement Program and Regional Development Plan. The final recommendations from the study are expected in early 2003. \nRegional Transit Action Plan (RTAP) \nIn order to develop a seamless regional transportation network, there needs to be a comprehensive, integrated plan for the region. The development of such a blueprint is the intent of the Regional Transit Action Plan. In December of 2001, GRTA selected consultants to perform a two-year long study that will culminate in recommendations for an Atlanta regional transportation network. Representatives from public transportation providers in the region, the Atlanta Regional Commission, the Federal Transit Administration, the Metro Counties and other transportation experts are all serving on a steering committee to help guide the study. \nWhen completed, the Regional Transit Action Plan study will produce an implementation plan for the express bus system. Additional elements include a short-range transit action plan through the year 2010, a long-range plan covering this period through 2025, a recommended regional fare collection strategy, and a framework for integrating transit services into a seamless regional system. \nPerimeter Connectivity Study \nOne of the key activity centers in Metro Atlanta is the Perimeter Center area in north DeKalb County. This center is home to one of the largest concentration of Fortune 500 companies in the Southeast and lies at a major transportation crossroads of Interstate 285, Ga 400 and the MARTA North Springs line. Being centered around a large, regional shopping mall and having a heavy concentration of office buildings, hotels and restaurants, this area also experiences a great deal of traffic congestion. \nIn 2002, a consultant was selected to perform the Perimeter Connectivity Study. This study will evaluate fixed guide-way and bus alternatives to provide vital connecting links between MARTA stations and local trip generators within the Perimeter Center Major Activity Area. The consultant's work includes a detailed assessment of the transportation alternatives and their costs as well as an environmental assessment of the selected alternatives. \n-7- \n \n FACTORS AFFECTING FINANCIAL CONDITION \nThe information presented in the financial statements is perhaps best understood when it is considered from the broader perspective of the specific environment within which the Georgia Regional Transportation Authority operates. Some of the more significant environmental factors that have the potential to impact the Authority's ability to obtain funding to carry out its mission in the future are discussed below. \nState of Georgia's Economy \nLike the rest of the nation, the State of Georgia has been experiencing the effects of the prevailing unfavorable economic conditions. Based on the revenue numbers recently reported by the Georgia Department of Revenue, the State of Georgia's revenue collections for the fiscal year ended June 30, 2002 was about $686 million or 5% less than the previous period. In terms of dollar amounts, the largest revenue decreases for the most recent fiscal year were in the \"Individual Income Tax\" category (down $438 million or 6.3%), the \"Corporate Income Tax\" category (down $136 million or 18.8%) and the \"Sales and Use Tax\" category (down $100 million or 2.0%). \nWith the resulting imbalance in State government revenues and expenditures, the Governor's Office of Planning and Budget has been forced into making some budget reductions in State supported programs. Fortunately, the State has accumulated \"rainy day\" funds of about $1.5 billion that represents an existing $735 million budgetary reserve fund and another $815 million in surplus collections from the 2001 fiscal year. The availability of these funds is critical to the State's ability to reduce the impact of a sour economy on its operating budget.  However with much of this financial cushion possibly evaporating during the 2003 fiscal year, budget cuts could become much more severe in subsequent fiscal years. \nIn the first quarter's edition of the newsletter, Georgia Business and Economic Conditions, Mr. Jeffrey Humphrey, the Director of Economic Forecasting for the University of Georgia's Terry College of Business, provided his economic forecast for the 2002 year. His prediction back in March was that the economy of the State of Georgia would continue to experience a synchronous recession with the rest of the nation. In addition, he felt like the recession would continue for a relatively long period of time but would be shallow in nature. \nMr. Humphrey is of the opinion that the underlying forces of recession in Georgia and the nation are basically the same. Some of those causes include the purging of structural imbalances (i.e., excesses in business investment and staffing, bubbles in the equities market) and the collapse of consumers' and businesses' confidence. In addition, the unique characteristics of this recession are viewed as working against the State's economy. It is felt that Georgia's unusually large air transportation, hospitality and information technology clusters are certain to face difficult market conditions in the coming months. \nIn terms of significant economic trends for the 2002 year, the Real Gross State Product is projected to decrease by about 0.9%. The unemployment rate for the State is expected to increase from 4.2% to 6.1 % by the end of the year. And with fewer jobs available, real personal \n-8- \n \n income is expected to decrease by an estimated 0.4% and housing permits are projected to drop significantly by 11.4% compared to the previous year. \nMetropolitan Atlanta's Economy \nWithin the context of the current economic conditions, the Atlanta area's technologydriven economy is particularly at a disadvantage. The region is expected to lose about 22,200 jobs by the end of 2002 which represents a decrease of about 1% compared to the previous year's total. It is anticipated that job losses will be concentrated in the high tech, air transportation and hospitality industries. And when compared to recent years, construction activity is also expected to decline sharply. \nIrrespective of the current economic conditions, the Metropolitan Atlanta region ranks high on the list of the nation's best locations for business. The large pool of talented workers, the industrial diversity and the growth of several major research universities combine to foster economic prosperity for the immediate area. And historically, transportation has been the linchpin for the region's growth. Hartsfield Atlanta International is the second busiest passenger airport in the world, and its extensive schedule of daily flights to domestic and international destinations makes Atlanta a prime location for headquarters operations, foreign direct investment, trade shows and conventions. The convergence of major fiber optic trunk lines here also attracts telecom and IT firms, which increasingly power the economy for the Atlanta region. \nCash Management Policies and Practices \nCash temporarily idle during the year was invested in the State Investment Pool which is operated by the Office of Treasury and Fiscal Services. The State Investment Pool (Georgia Fund 1) is an external investment pool that is not registered with the Securities and Exchange Commission (SEC) but does operate in a manner consistent with the SEC's Rule 2a7 of the Investment Company Act of 1940. The State of Georgia's Office of Treasury and Fiscal Services (OTFS) manages Georgia Fund 1 in accordance with policies and procedures established by State law and the State Depository Board, the oversight Board of OTFS. Investments of Georgia Fund 1 are generally comprised of federally backed securities with maturities of less than 90 days. The Authority can access these funds as they are needed with just cine day's notification to the fund manager. \nRisk Management \nThe Department of Administrative Services (DOAS) has the responsibility for the State of Georgia of making and carrying out decisions that will minimize the adverse effects of accidental losses that involve State government assets. The State believes it is more economical to manage its risks internally and set aside assets for claim settlement. Accordingly, DOAS processes claims for the risk of loss to which the State is exposed, including general liability, property and casualty, workers' compensation, unemployment compensation, and law enforcement officers' indemnification. Limited amounts of commercial insurance are purchased applicable to property, employee and automobile liability, fidelity and certain other risks. \n-9- \n \n The Authority is part of the State of Georgia reporting entity, and as such, is covered by the State of Georgia risk management program administered by DOAS. Premiums for the risk management program are charged to the various state organizations by DOAS to provide claims servicing and claims payment. \nACKNOWLEDGEMENTS \nThe preparation of this report would not have been possible without the efficient and dedicated services of the entire staff of the finance and administration department. We would like to express our appreciation to all members of the department who assisted and contributed to the preparation of this report..Credit also must be given to the Chairman and the entire Board of Directors for their unfailing support for maintaining the highest standards of professionalism in the management of the Georgia Regional Transportation Authority's finances. \n \nRespectfully Submitted, \n{2~/12'5 \nDr. Catherine L. Ross Executive Director \n \n~1H~~, JT \nf Emory McHugh, III, CPA \nDirector of Finance and Administration \n \n-10- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY ORGANIZATIONAL CHART \n \nBOARD OF \nDIRECTORS \n \n--------, \n \nEXECUTIVE DIRECTOR CATHERINE L. ROSS, Ph.D. \n \nBoard Secretary Deborah Johannes \n \nDirector of External Affairs Robert B. Alexander \n \nDeputy Director James M. Ritchey \n \nChief Legal Counsel Kirk R. Fjelstul \n \nDirector of Finance and Administration Emory L. McHugh, Ill \n \nTransit Director Jerome Parker \n \nEngineering and Project Director Marvin Woodward \n \nTransportation Planning Manager \nDania Aponte \n \n-11 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY LIST OF PRINCIPAL OFFICIALS JUNE 30, 2002 \nBoard of Directors Chairman....................................................................Walter M. \"Sonny\" Deriso Vice Chair ..................................................................Sharon A. Gay Director ......................................................................Andrella Baylis Director ......................................................................Steven F. Bruning, PE Director ......................................................................Tim Connolly Director ......................................................................Eric R. Hovdesven Director ......................................................................Shi Shailendra Director ........................................... .\"..........................John A. Sibley, III Director ..................................................................... .James E. Stephenson Director ......................................................................Ken F. Thigpen Director ......................................................................Richard L. Tucker Director ......................................................................Michael Tyler Director ......................................................................Carolyn Williams Director ......................................................................John Williams \nAppointed Officials Executive Director .....................................................Catherine L. Ross, PhD Deputy Director .........................................................James M. Ritchey Chief Legal Counsel ..................................................Kirk R. Fjelstul Director of External Affairs .......................................Robert B. Alexander Director of Finance and Administration ....................Emory L. McHugh, III, CPA Projects Manager .......................................................Marvin Woodward Transit Manager .........................................................Jerome Parker Passenger Rail Manager.............................................Crew Heimer Planning Manager .......................................................Dania Aponte Communications Manager .........................................William Mecke Information Technology Manager .............................Charles Fleming \n- 12 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY FINANCE AND ADMINISTRATION DEPARTMENT STAFF MEMBERS JUNE 30, 2002 \nDirector ......................................................................Emory L. McHugh, III, CPA Accounting Manager..................................................Kathryn Huger Budget Officer ...........................................................Paul B. Williams Procurement and Contracts Manager. ........................Laurie Heinze Human Resources Manager .......................................Renee' Wheeler Information Technology Manager .............................Charles Fleming Network Administrator ..............................................John McMahan Receptionist. ........................ :......................................Wanda Van Zandt \n-13- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY VICINITY MAP OF METRO ATLANTA NONATTAINMENT AREA \n- 14- \n \n FINANCIAL SECTION \n-15 - \n \n THIS PAGE \nIS INTENTIONALLY \nBLANK \n-16- \n \n w. RUSSELL \n \nHINTON \n \nSTATE AUDITOR \n \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nNovember 6, 2002 \n \nHonorable Roy E. Barnes, Governor Members of the General Assembly of Georgia Members of the Georgia Regional Transportation Authority \nand Honorable Catherine L. Ross, Executive Director \n \nINDEPENDENT AUDITOR'S REPORT ON BASIC FINANCIAL STATEMENTS ACCOMPANIED BY REQUIRED SUPPLEMENTARY INFORMATION AND SUPPLEMENTARY INFORMATION \n \nLadies and Gentlemen: \n \nWe have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Georgia Regional Transportation Authority, a component unit of the State of Georgia, as of and for the year ended June 30, 2002, which collectively comprise the Authority's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Authority's management. Our responsibility is to express opinions on these financial statements based on our audit. \n \nWe conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. \n \nIn our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the businesstype activities, each major fund, and the aggregate remaining fund information of the Georgia Regional Transportation Authority, as of June 30, 2002, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. \n-17- \n \n As discussed in Note 5 to the basic financial statements, the Georgia Regional Transportation Authority adopted Governmental Accounting Standards Board Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments; Statement No. 37, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments: Omnibus; and Statement No. 38, Certain Financial Statement Note Disclosures, as of June 30, 2002. \nIn accordance with Government Auditing Standards, we have also issued a report dated November 6, 2002, on our consideration of the Georgia Regional Transportation Authority's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. \nThe management's discussion and analysis on pages 19 through 30 is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. \nOur audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Georgia Regional Transportation Authority's basic financial statements. The introductory section, combining fund statements and schedules, and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining fund statements and schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. The introductory section and statistical section have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion on them. \nRespectfully submitted, \n~~w~ ~ell W. Hmton, CPA, CGFM State Auditor \nRWH:rgs \n-18- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nAs management of the Georgia Regional Transportation Authority (Authority, or GRTA), we offer our readers and the various users of the Authority's financial statements this narrative overview and analysis of the financial activities of the Georgia Regional Transportation Authority for the fiscal year ended June 30, 2002. We encourage readers of our financial statements to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal that can be found earlier in the Introductory Section of this report and the basic financial statements that immediately follow. \n \nFINANCIAL HIGHLIGHTS . \n \n \n \nThe assets of the Georgia Regional Transportation Authority exceeded its \n \nliabilities at the close of the most recent fiscal year by $15,175,265.61 (net \n \nassets). Of this amount, $4,482,245.32 (unrestricted net assets) may be used to \n \nrrieet the Authority's ongoing obligations to citizens and creditors. \n \n \n \nThe Authority's total net assets at June 30, 2002 increased by $2,335,883.01 or \n \nabout 18.2% over the previous year's balance. The largest single, contributing \n \nfactor to this increase in net assets was the purchase of the new buses and support \n \nvehicles for the Clayton County Bus Service. \n \n \n \nAs of the close of the current fiscal year, the Georgia Regional Transportation \n \nAuthority's governmental funds reported combined ending fund balances of \n \n$10,570,915.36, a decrease of $2,096,411.07 in comparison to the prior fiscal \n \nyear. Approximately 82.6% of this total amount, $8,734,879.70, is available for \n \nspending at the Authority's discretion (unreservedfund balance). \n \n \n \nAt the end of the current fiscal year, unreserved fund balance for the General \n \nFund was $1,499,858.37. This level of unreserved fund balance represents about \n \n29 percent of total general fund expenditures for the current fiscal year and thus \n \nprovides working capital coverage for a period of about 15 weeks in the event that \n \nit is needed. \n \n \n \nAt no time during the current fiscal year did the Georgia Regional Transportation \n \nAuthority incur any outstanding debt. \n \nOVERVIEW OF THE FINANCIAL STATEMENTS \n \nThis discussion and analysis is intended to serve as an introduction to the Georgia Regional Transportation Authority's basic financial statements. The Authority's basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. \n \n-19- \n \n Government-wide Financial Statements \nThe government-wide financial statements are designed to provide readers with a broad overview of the Georgia Regional Transportation Authority's finances, in a manner similar to a private-sector business. \nThe Statement ofNet Assets presents information on all of the Georgia Regional Transportation Authority's assets and liabilities, with the difference between the two reported as Net Assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the Georgia Regional Transportation Authority is improving or deteriorating. \nThe Statement ofActivities presents information showing how the Authority's net assets have changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., earned but unused vacation leave). \n; \nBoth of the government-wide financial statements distinguish functions of the Georgia Regional Transportation Authority that are principally supported by taxes paid to the State and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the Georgia Regional Transportation Authority are limited to providing transportation related services. The business-type activity of the Georgia Regional Transportation Authority is represented by the operation of a van pool program that is actually being initiated during the first quarter of the 2003 fiscal year. \nThe government-wide financial statements only include the operations of the Georgia Regional Transportation Authority. The Authority is considered a component unit of the State of Georgia for financial reporting purposes because of the significance of GRTA's legal, operational and financial relationships with the State of Georgia. These reporting entity relationships are defined in Section 2100 of the Governmental Accounting Standards Board's Codification of Governmental Accounting and Financial Reporting Standards. \nFund Financial Statements \nA fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Georgia Regional Transportation Authority, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Georgia Regional Transportation Authority can be classified into one of two categories: governmental funds or proprietary funds. \n-20- \n \n Governmental Funds. Governmentalfunds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances ofspendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements. \nBecause the focus of governmental funds is narrower than that of the governmentwide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the Authority's near term financing decisions. Both the governmental fund Balance Sheet and the governmental fund Statement of Revenues, Expenditures and Changes in Fund Balances provides a reconciliation to facilitate this comparison between governmental funds and governmental activities. \nThe Georgia Regional Transportation Authority maintains ten individual governmental funds. Information is presented separately in the governmental fund \"Balance Sheet\" and in the governmental fund \"Statement of Revenues, Expenditures and Changes in Fund Balances\" for the General Fund, Clayton County Bus Special Revenue Fund and the Restricted Income Special Revenue Fund; each of which are considered to be major funds. Data from the other seven governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. \nThe Finance staff of the Georgia Regional Transportation Authority prepares an annual budget for the General Fund to monitor the status of its results of operations during each fiscal year. However, this internal budget is for management purposes only and is not subject to review or approval by the Legislature of the State of Georgia, and therefore, is a nonappropriated budget. Accordingly, there is no need to provide a budgetary comparison statement to demonstrate compliance with this internal budget. As an administrative control, GRTA's Board of Directors is provided with budget-to-actual comparison information on a monthly basis. \nBecause of the very nature (i.e., transportation type projects) of GRTA's Special Revenue Funds, many of the expenditure plans will take place over multiple fiscal periods. For example, some transportation studies may take as many as three years to complete and the expenditures related to that study could occur in four different fiscal years. Again as an internal administrative control, a project-length financial plan is programmed for each of those Special Revenue Funds falling into this category to track the cumulative activity over the length of the project. \nProprietary Funds. The Georgia Regional Transportation Authority only maintains one of the two different types of proprietary funds. The type used by the \n- 21 - \n \n Authority, Enterprise Funds, is used to report the same functions as those presented as business-type activities in the government-wide financial statements. The Georgia Regional Transportation Authority will be using an enterprise fund to account for the operation of its van pool program that will be initiated in the 2003 fiscal year. \nProprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide information for the Van Pool Program and since there is only one fund in this category, it is considered to be a major fund of the Georgia Regional Transportation Authority. \nNotes To The Financial Statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found in the Basic Financial Statements section of this report. \nOther Information. In addition to the basic financial statements and accompanying notes, this report also presents certain supplementary information concerning the Georgia Regional Transportation Authority. The combining statements referred to earlier in connection with nonmajor governmental funds are presented as supplementary information. \nGOVERNMENT-WIDE FINANCIAL ANALYSIS \nAs noted earlier, net assets may serve over time as a useful indicator of a government's financial position. The reader can think of the Georgia Regional Transportation Authority's net assets as the difference between its assets (i.e., what the Authority owns) and its liabilities (i.e., what the Authority owes) at the end of a fiscal year. This balance represents one way to measure the Authority's financial health or its financial position. In the case of the Georgia Regional Transportation Authority, assets exceeded liabilities by $15,175,265.61 at the close of the most recent fiscal year. \nTo better understand the Authority's actual financial position and ability to deliver services in future periods, the reader will also need to review the various . components of the net asset category. For example, the vast majority of the Georgia Regional Transportation Authority's net assets ($11,717,266.65 or approximately 77 percent of the total) reflect financial resources that are available for the provision of transportation services in the ensuing fiscal year. Generally, those financial resources are in the form of either readily available cash or receivables due from other government agencies (e.g., Federal Transit Administration, Georgia Department of Transportation, etc.). In the majority of instances, these intergovernmental receivables represent the reimbursement of expenditures already incurred by the Authority on various transportation projects for which those agencies have agreed to provide funding. \nIn further refining the availability of $11,717,266.65 in net assets to provide future transportation services, $7,235,021.33 or about 61.7% of the available financial \n-22 - \n \n resources actually represent financial resources that are subject to external restrictions on how they can be used. The remaining balance of unrestricted net assets ($4,482,245.32) may be used to meet the Authority's ongoing obligations to citizens and creditors. \n \nThe remaining 23 percent of net assets represents the Authority's investment in capital assets (e.g., buses, automobiles, and computer equipment). The Georgia Regional Transportation Authority uses these capital assets to provide services to those citizens served by the Authority. Because of the very nature and on-going.use of the assets being reported in this component of net assets, it must be recognized that this portion of the net assets is not available for future spending. \nThe tabular information below provides a comparison of the Georgia Regional Transportation Authority's net assets at June 30, 2002 and 2001. The schedule provides comparative information for both the governmental and business-type activities. For presentation purposes, the amounts shown have been rounded to the nearest dollar. \n \nComparative Schedule OfGRTA's Net Assets \n \nCurrent Assets: Cash and Cash Equivalents Receivables \nCapital Assets Total Assets \n \nGovernmental \n \nActivities \n \nFY2002 \n \nFY 2001 \n \nBusiness-Type Activities \nFY 2002 FY 2001 \n \nTotal \n \nFY 2002 \n \nFY 2001 \n \n$ 8,686,208 3,484,679 3,457,999 \n~15,628,886 \n \n$10,194,661 3,013,590 172,056 \n$13,380,307 \n \n$1,250,000 $ \n- \n~1,250,000 $ \n \n- $ 9,936,208 $10,194,661 \n \n- 3,484,679 3,013,590 \n \n- 3,457,999 \n \n172,056 \n \n- $16,878,886 $13,380,307 \n \nNoncurrent Liabilities Current Liabilities \nTotal Liabilities \n \n$ 103,648 1,599,972 \n~1,703,620 \n \n$ 48,444 $ 492,480 $540,924 $ \n \n-$ -$ \n \n- $ 103,648 \n- 1,599,972 \n- H,703,620 \n \n$ 48,444 492,480 $540,924 \n \nNet Assets: Invested in Capital Assets Restricted Unrestricted Total Net Assets \n \n$ 3,457,999 $ 172,056 $ 7,235,022 7,958,369 \n \n-$ - \n \n3,232,245 4,708,958 1,250,000 \n \n$13,925,266 $12,839,383 $1,250,000 $ \n \n- $ 3,457,999 $ 172,056 \n \n- 7,235,022 7,958,369 \n \n- 4,482,245 \n \n4,708,958 \n \n- $15,175,266 $12,839,383 \n \nAt the end of the current fiscal year, the Georgia Regional Transportation Authority is able to report positive balances in all three categories of net assets, both for the Authority as a whole, as well as for its separate governmental and business-type activities. Net assets for governmental activities were also positive for the prior fiscal year. The current fiscal year represents the initial year of the van pool program which is shown as a business-type activity. \nThe following table provides a comparison of the changes in the Georgia Regional Transportation Authority's net assets for the fiscal years ended June 30, 2002 and 2001. The schedule provides comparative information for both the governmental and business-type activities. For presentation purposes, the amounts shown have been rounded to the nearest dollar. \n \n- 23 - \n \n Comparative Schedule Of Changes In GRTA's Net Assets \n \nRevenues: Program Revenues: Charges For Services Operating Grants And Contributions Capital Grants and Contributions General Revenues: State Appropriations Investment Earnings Total Revenues \n \nGovernmental \n \nActivities \n \nFY 2002 \n \nFY 2001 \n \n$ 457,235 $ \n \n- \n \n9,088,279 2,964,506 \n \n200,000 \n- \n \n4,518,807 301,405 \n$17,330,232 \n \n8,777,338 620,642 \n$9,597,980 \n \nBusiness-Type Activities \nFY 2002 FY 2001 \n \nTotal \n \nFY 2002 \n \nFY 2001 \n \n$ \n \n-$ \n \n- $ 457,235 $ \n \n- \n \n- \n \n- 9,088,279 \n \n200,000 \n \n- \n \n- 2,964,506 \n \n- \n \n- \n \n- 4,518,807 8,777,338 \n \n- \n \n- \n \n301,405 \n \n620,642 \n \n$ \n \n-$ \n \n- $17,330,232 $9,597,980 \n \nExpenses: Transportation Van Pool Operations Total Expenses \n \n$14,994,349 $4,630,173 $ \n \n- \n \n- \n \n$14,994,349 $4,630,173 $ \n \n-$ \n- \n-$ \n \n- $14,994,349 \n \n- \n \n- \n \n- $14,994,349 \n \n$4,630,173 - \n$4,630,173 \n \nIncrease in Net Assets Before Transfers \nTransfers Increase in Net Assets \nNet Assets - Beginning \n \n$ 2,335,883 $4,967,807 $ \n \n-$ \n \n-1,250,000 \n \n- 1,250,000 \n \n$ 1,085,883 $4,967,807 $1,250,000 $ \n \n12,839,383 7,871,576 \n \n- \n \n- $2,335,883 $4,967,807 \n \n- \n \n- \n \n- \n \n- $ 2,335,883 $4,967,807 \n \n- 12,839,383 7,871,576 \n \nNet Assets - Ending \n \n$13,225,266 $12,832,383 $1,250,000 $ \n \n- $15,125,266 $12,832,383 \n \nAs indicated in the \"FY 2002 Total\" column above, the Authority's net assets increased by $2,335,883.01 during the current fiscal year. The principal factor in this increase for FY 2002 was the acquisition of buses and support vehicles that were required for GRTA to begin operating the Clayton County bus service during the period. The financial impact of this particular transaction on net assets is that the Authority was reimbursed by the Federal Transit Administration and the Clayton County Board of Commissioners for ninety-percent of the cost of these capital assets. \n \nGovernmental Activities \nIn comparing the net assets of the governmental activities for the last two fiscal years, the most significant change represents the Authority's investment in capital assets. As additional transit services such as the Clayton County bus service come on line in the future, a corresponding increase in this component of net assets is anticipated. \nGovernmental activities increased the Georgia Regional Transportation Authority's net assets by $1,085,883.01, thereby accounting for about 47 percent of the total growth in net assets of the Georgia Regional Transportation Authority. The key elements of this increase include the following items: \n \n- 24- \n \n  \n \nCapital Grants and Contributions from the Federal Transit Administration in the \n \namount of $2,946,505.85 were used to purchase buses and support vehicles for \n \nthe Clayton County Bus Service. \n \n \n \nOperating Grants and Contributions increased by $8,888,278.96 as a result of \n \nGRTA's ability to initiate several transportation studies and the Clayton County \n \nbus service during the 2002 fiscal year. These program revenues were used to \n \nhelp offset the increase of $10,364,176.65 in expenses compared to the previous \n \nfiscal year. \n \n \n \nCharges For Services revenues, such as farebox collections from the Clayton \n \nCounty bus operations, in the amount of $457,235.29 were collected for the first \n \ntime in the 2002 fiscal year. \n \n \n \nInvestment Earnings in the amount of $301,405.23 provided additional General \n \nRevenues to support governmental activities. \n \nThe chart below provides a comparison of the major categories of revenues of governmental activities for the fiscal years ended June 30, 2001 and 2002. The significant increase in grant related revenues when compared to the previous period clearly demonstrates the level of expenditure activity resulting from the federally funded projects that were initiated during the current year. The additional State Appropriations that occurred in FY 2001 primarily represent local matching funds that were advanced for some of these federally funded projects. The decline in Investment Earnings is a direct result of lower interest rates during the current period. \n \nCOMPARISON OF REVENUES BY CATEGORY - GOVERNMENTAL ACTIVITIES \n \n$10,000,000 \n \n$9,000,000 \n \n$8,000,000 \n \n$7,000,000 \n \n$6,000,000 \n \n$5,000,000 \n \n$4,000,000 \n \n$3,000,000 \n \n$2,000,000 \n \n$1,000,000 \n \n$0-!!!2:E:i!!-!!I!!!~~ \n \nCharges for \n \nOperating \n \nServices \n \nGrants \n \nCapital Grants \n \nState \n \nInvestment \n \nAppropriations Earnings \n \n FY 2001 laFY2002 \n \nThe following chart is provided to illustrate the primary reason behind the significant increase in expenses for the 2002 fiscal year when compared to the previous period. The Georgia Regional Transportation Authority only came into existence in 1999 with FY 2000 being its first year of actual operations. As one might expect, it has taken an extended period of time to get the organization up and running, to determine \n \n- 25- \n \n what needs to be done to effectively address the traffic congestion problem and to lay all of the necessary groundwork for the implementation of those solutions that have been identified. \n \nCOMPARISON OF EXPENSES - GOVERNMENTAL ACTIVITIES \n \n$7,000,000 \n \n$6,000,000 \n \n$5,000,000 \n \n$4,000,000 \n \n$3,000,000 \n \n$2,000,000 \n \n$1,000,000 \n \n$0 \n \n~ ~ \n.s -~ \n13..J Q) Cl) \n5 ti) 0::, \nco \n \nti) \nco C: ::, \n0 \n\u003e,.2;- \n-ro c:::, \n(.) 0 (.) \n \ne? ~ \n \nQ) C: \n \nC: Q) \n \nu::., \n \n(!) \n \nl  FY 2001 l!IFY 2002 1 \n \nIn the fiscal year ended June 30, 2002, the Georgia Regional Transportation Authority was able to get several large transportation studies underway. They include the Northern Sub-Area Study \u0026 Ga 400 Corridor Analysis, the Northwest Connectivity Study, and the Regional Transit Action Plan Study. Two new bus services, the Clayton County system and QuickLink, were also started during the current fiscal year. \nBusiness-Type Activities \nBusiness-type activities increased the Georgia Regional Transportation Authority's net assets by $1,250,000.00, accounting for approximately 53 percent of the total growth in the Authority's net assets. This increase was the result of a transfer from the General Fund to provide the working capital that was needed to get the van pool program initiated. \nFINANCIAL ANALYSIS OF THE AUTHORITY'S FUNDS \nAs noted earlier, the Georgia Regional Transportation Authority uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Much of the financial activity of GRTA represents grants that are received from other governmental agencies with the expending of those monies being restricted to specific transportation-related purposes. \n \n- 26- \n \n Governmental Funds \nThe focus of the Georgia Regional Transportation Authority's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Authority's financing requirements. In particular, unreserved fund balance may serve as a useful measure of the Authority's net resources available for spending at the end of the fiscal year. \n. At the end of the current fiscal year, the Georgia Regional Transportation Authority's governmental funds reported combined ending fund balances of $10,570,915.36. This represents a decrease of $2,096,411.07 or about 16.5% less than the prior year's total of $12,667,326.43. This decline in the total fund balance from the prior year was fully anticipated by management as the local share of funding received in previous fiscal years is being expended on the federally funded projects as they are initiated. \n$8,734,879.70 or approximately 82.6 percent of this year's ending fund balance amount constitutes unreserved fund balance, which is available for spending at the Authority's discretion. The remainder of the fund balance is reserved to indicate that it is not available for new spending because it has already been committed to liquidate contracts and purchase orders of the prior period. \nGeneral Fund. The General Fund is the chief operating fund of the Georgia Regional Transportation Authority. At the end of the current fiscal year, unreserved fund balance of the General Fund was $1,499,858.37, while the total fund balance was $3,335,894.03. As a measure of the General Fund's liquidity, it may be useful for the reader to compare both unreserved fund balance and total fund balance to total General Fund expenditures for the previous fiscal year. Using that comparison, unreserved fund balance represents roughly 29 percent of total General Fund expenditures, while the total fund balance represents about 64.4 percent of that same amount. To put those percentages in perspective, the unreserved fund balance provides working capital to the Authority and is sufficient to cover an average amount of expenditures over a 15 week period should the need arise. \nThe fund balance of the Georgia Regional Transportation Authority's General Fund decreased by $1,373,063.75 or about 29 percent during the current fiscal year. The key factor to this decrease was the transfer of $1,250,000.00 to the Enterprise Fund to provide the necessary working capital to get the Van Pool Program started. \nSpecial Revenue Funds. The Special Revenue Funds of the Georgia Regional Transportation Authority are used to account for the proceeds of specific revenue sources, other than those provided for major capital projects, that are legally restricted to expenditures for specified purposes. By accounting for the restricted revenues and associated expenditures in a separate Special Revenue Fund, the Authority is better able to ensure that it remains in compliance with the grantors' requirements or restrictions on the use of these revenues. \n- 27- \n \n The aggregate of the fund balances of the Georgia Regional Transportation Authority's Special Revenue Funds decreased by $723,347.32 or about 9 percent during the current fiscal year. As discussed earlier, this decrease in fund balance coincides with the expending of the local match that has been programmed for those projects funded by federal grants. \nProprietary Fund \nThe Georgia Regional Transportation Authority's Proprietary Fund provides the same type of information found in the government-wide financial statements, but in more detail. \nUnrestricted assets of the Van Pool Operations Enterprise Fund at the end of the fiscal year amounted to $1,250,000.00. Because all of these assets represented the transfer of working capital from the General Fund at the end of FY 2002, there are no valid comparisons to be made since this is the first year for reporting this fund. \n \nCAPITAL ASSETS \nThe Georgia Regional Transportation Authority's net investment in capital assets for its governmental activities as of June 30, 2002, represents a total of $3,457,998.96. That net investment represents acquisition costs of $3,938,948.47 less accumulated depreciation of $480,949.51. This investment in capital assets includes machinery and equipment (e.g., buses, automobiles, computer equipment, etc.,) and improvements other than buildings (e.g., bus shelters). The total increase in the Georgia Regional Transportation Authority's net investment in capital assets was $3,285,942.79 or about 1,910 percent more than the previous year's total of$172,056.l 7. The primary reason for this significant increase was the purchase of the buses and support vehicles needed to provide Clayton County with bus service. \nThe following table provides a comparison of acquisition costs and accumulated depreciation of capital assets as of June 30, 2002 and 2001. \n \nSCHEDULE OF GRTA'S CAPITAL ASSETS \n \nImprovements Other Than Buildings Machinery and Equipment \nTotal Capital Assets \n \nAcQuisition Costs \n \n2002 \n \n2001 \n \n$ 40,406.85 $ \n \n- \n \n3,898,541.62 200,945.44 \n \n$3,238,248.41 $2QQ,245.44 \n \nAccumulated Denreciation \n \n2002 $( 3,244.69) (477,704.82) \n \n2001 \n \n$( \n \n-) \n \n(28,889.27) \n \n$(480,242.51 l $(28,882.21) \n \nECONOMIC FACTORS AND NEXT YEAR'S FINANCIAL ACTIVITY \nEconomic Factors \nAs in the case with the rest of the nation, the State of Georgia is also suffering from the effects of the prevailing unfavorable economic conditions. Total revenues for \n \n-28- \n \n the State for the 2002 fiscal year were down 5 percent compared to the previous period. This has forced the State's Office of Planning and Budget to begin reducing the budgets of the various government agencies. \n \nSome of the more significant economic indicators and conditions that could possibly impact GRTA's operations over the short-term include the following: \n \n \n \nThe State of Georgia's September 2002 unemployment rate was 4.8 percent. \n \nWhile this most recent rate is higher than the 4.2 percent from one year ago, it is \n \nlower than the 5.2% that was reported back in June of this year. Georgia's \n \nunemployment rate compares favorably with the national average of 5.7 percent. \n \n \n \nThe total employment numbers for the Metro-Atlanta region indicate that there \n \nare currently 2.13 million jobs. While this number is down about 60,000 from  \n \none year ago, the good news is that 4,300 new jobs were added in the month of \n \nSeptember 2002. \n \n \n \nThe Georgia Department of Labor's Index of Leading Economic Indicators (LEI) \n \nhas begun an upward trend that now covers the most recent three month period. \n \n \n \nInflationary trends in the region compare favorably to the national indices. For \n \nthe twelve-month period ending in June, the Consumer Price Index for all Urban \n \nConsumers in Atlanta increased only 0. 7 percent. \n \nNext Year's Financial Activity \n \nAs most observers will admit, part of the Atlanta region's transportation problems resulted from a lack of funding. On June 28, 2001, Governor Roy E. Barnes announced an eight-billion dollar program, the Transportation Choices Initiative (TCI}, to meet Georgia's current transportation needs. About half of the total program represents an investment in the transportation infrastructure of Metro-Atlanta. \n \nThe Governor has proposed to use revenue bonds to expedite many road and transit projects that are currently programmed for completion at least five or ten years down the road. By pledging future revenues that the State expects to receive from the Federal Highway Administration (FHWA) to pay off the debt, the bond proceeds that will be generated from the revenue bonds will allow for the completion of transportation projects much earlier than could be accomplished under the existing pay-as-you-go method. The two main benefits identified with this innovative program are that it will serve to improve congestion and the local economy in the short-term. \n \nMuch of the 2002 fiscal year has been spent trying to put the bond financing program together and coordinating the various transportation components of the TCI. Beginning with the 2003 fiscal year, GRTA's management expects to see a great deal more financial activity occurring as the State begins to implement this program. Funding has been designated in the Governor's program to make significant improvements in the region's arterial roads; to construct the Northwest Corridor Transit Line; to implement commuter rail in the region; to initiate express bus service and a regional van pool program; and to develop circulator systems for the major activity centers. \n \n-29- \n \n REQUESTS FOR INFORMATION This financial report is designed to provide a general overview of the Georgia Regional Transportation Authority's finances for all those individuals having an interest in the Authority's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Georgia Regional Transportation Authority, Director of Finance and Administration, 245 Peachtree Center Avenue, Suite 900, Atlanta, Georgia 30303-1223. \n-30- \n \n BASIC FINANCIAL STATEMENTS \n- 31 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY STATEMENT OF NET ASSETS JUNE 30, 2002 \n \nASSETS Cash And Cash Equivalents Accounts Receivable: Intergovernmental Other Capital Assets: Improvements Other Than Buildings Machinery And Equipment Accumulated Depreciation \n \nGovernmental Activities \n \nBusiness-Type Activities \n \nTotal \n \n$ 8,686,207.65 $ 1,250,000.00 $ 9,936,207.65 \n \n3,441,710.42 42,969.09 \n40,406.85 3,898,541.62 \n(480,949.51) \n \n3,441,710.42 42,969.09 \n40,406.85 3,898,541.62 (480,949.51) \n \nTotal Assets \n \n$ 15,628,886.12 $ 1,250,000.00 $ 16,878,886.12 \n \nLIABILITIES Accounts Payable Payroll Withholdings Noncurrent Liabilities: Compensated Absences Accrued FICA Payable \nTotal Liabilities \n \n$ 1,599,190.86 $ 780.94 \n96,283.06 7,365.65 \n$ 1,703,620.51 $ \n \n$ 1,599,190.86 780.94 \n96,283.06 7,365.65 \n$ 1,703,620.51 \n \nNET ASSETS Invested in Capital Assets Restricted for: Clayton County Bus Service Planning Studies Van Pool Program Other Purposes Unrestricted \nTotal Net Assets \n \n$ 3,457,998.96 $ \n \n$ 3,457,998.96 \n \n803,259.28 1,770,842.70 1,200,000.00 3,460,919.35 .3,232,245.32 \n \n1,250,000.00 \n \n803,259.28 1,770,842.70 1,200,000.00 3,460,919.35 4,482,245.32 \n \n$ 13,925,265.61 $1,250,000.00 $15,175,265.61 \n \nThe notes to the financial statements are an integral part of this statement. \n \n-32- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY STATEMENT OF ACTIVITIES \nFOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nFunctions / Programs Governmental Activity: Transportation \n \nExpenses \n \nCharges For Services \n \nProgram Revenues \n \nOperating \n \nCapital \n \nGrants And \n \nGrants And \n \nContributions Contributions \n \n$14,994,349.32 $457,235.29 $ 9,088,278.96 $ 2,964,505.85 \n \nBusiness-Type Activity: Van Pool \n \nNe_t (Expense) Revenue And \n \nChanges In Net Assets \n \nGovernmental Business-Type \n \nActivities \n \nActivities \n \nTotal \n \n$ (2,484,329.22) $ \n \n$ (2,484,329.22) \n \nTotal Activities \n \n$14,994,349.32 $ 457,235.29 $ 9,088,278.96 $ 2,964,505.85 $ (2,484,329.22) $ \n \n$ (2,484,329.22) \n \nGeneral Revenues: State Appropriations Unrestricted Investment Earnings \nTransfers \nTotal General Revenues and Transfers \nChange in Net Assets \nNet Assets - Beginning \nNet Assets - Ending \n \n$ 4,518,807.00 $ \n \n$ 4,518,807.00 \n \n301,405.23 \n \n301,405.23 \n \n(1,250,000.00) 1,250,000.00 \n \n$ 3,570,212.23 $ 1,250,000.00 $ 4,820,212.23 \n \n$ 1,085,883.01 $ 1,250,000.00 $ 2,335,883.01 \n \n12,839,382.60 \n \n12,839,382.60 \n \n$ 13,925,265.61 $ 1,250,000.00 $ 15,175,265.61 \n \nThe notes to the financial statements are an integral part of this statement. \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY BALANCE SHEET \nGOVERNMENTAL FUNDS JUNE 30, 2002 \n \nASSETS Cash And Cash Equivalents Receivables: Intergovernmental Other Due From Other Funds \n \nGeneral \n \nClayton Countx: Bus \n \nRestricted Income \n \nOther Governmental \nFunds \n \nTotal Governmental \nFunds \n \n$2,337,905.25 $ 847,754.05 $3,460,919.35 $2,039,629.00 $ 8,686,207.65 \n \n42,969.09 1,000,817.32 \n \n276,011.00 \n \n3,165,699.42 \n \n3,441,710.42 42,969.09 \n1,000,817.32 \n \nTotal Assets \n \n$3,381,691.66 $1,123,765.05 $3,460,919.35 $5,205,328.42 $13,171,704.48 \n \nLIABILITIES AND FUND BALANCES \n \nLiab ii ities: \n \nAccounts Payable \n \n$ \n \nPayroll Withholdings \n \nDue To Other Funds \n \nTotal Liabilities \n \n$ \n \n45,016.69 $ 320,505.77 $ 780.94 \n45,797.63 $ 320,505.77 $ \n \n$ 1,233,668.40 $ 1,599, 190.86 \n \n780.94 \n \n1,000,817.32 \n \n1,000,817.32 \n \n$2,234,485.72 $ 2,600,789.12 \n \nFund Balances: Reserved For: Encumbrances Rail Passenger Program Unreserved, Reported In: General Fund Special Revenue Funds \nTotal Fund Balances \n \n$ 894,491.97 $ \n \n$ \n \n$ \n \n$ 894,491.97 \n \n941,543.69 \n \n941,543.69 \n \n1,499,858.37 \n \n803,259.28 3,460,919.35 2,970,842.70 \n \n1,499,858.37 7,235,021.33 \n \n$ 3,335,894.03 $ 803,259.28 $3,460,919.35 $2,970,842.70 $ 10,570,915.36 \n \nTotal Liablities and Fund Balances \n \n$3,381,691.66 $ 1,123,765.05 $3,460,919.35 $5,205,328.42 \n \nAmounts reported for governmental activities in the statement of net assets are different because: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. Long-term liabilities, including Compensated Absences, are not due and payable in the current period and therefore are not reported in the funds. \nNet Assets of Governmental Activities \n \n3,457,998.96 \n(103,648.71) $ 13,925,265.61 \n \nThe notes to the financial statements are an integral part of this statement. \n \n-34- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nGOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nREVENUES Intergovernmental Charges For Services Investment Earnings Contributions and Donations Other Revenues \nTotal Revenues \n \nGeneral \n \nClayton County Bus \n \nRestricted Income \n \nOther Governmental \nFunds \n \nTotal Governmental \nFunds \n \n$ 5,050,489.74 $ 5,113,739.00 $ \n \n$ 6,402,363.07 $16,566,591.81 \n \n456,031.89 \n \n456,031.89 \n \n301,405.23 \n \n301,405.23 \n \n5,000.00 \n \n5,000.00 \n \n1,203.40 \n \n1,203.40 \n \n$ 5,056,693.14 $ 5,569,770.89 $ 301,405.23 $ 6,402,363.07 $17,330,232.33 \n \nEXPENDITURES Current: Transportation Capital Outlay: Transportation \nTotal Expenditures \n \n$ 5,143,362.71 $ 2,097,243.61 $ \n \n$ 7,198,034.05 $14,438,640.37 \n \n36,394.18 3,685,517.00 \n \n16,091.85 3,738,003.03 \n \n~ - - - - $ 5,179,756.89 $ 5,782,760.61 $ \n \n$ 7,214,125.90 $18,176,643.40 \n \nExcess (Deficiency) of Revenues Over (Under) Expenditures $ (123,063.75) $ (212,989.72) $ 301,405.23 $ (811,762.83) $ (846,411.07) \n \nOTHER FINANCING SOURCES (USES) \n \nTransfers In \n \n$ \n \n$ \n \n$ 2,411,266.00 $ \n \n$ 2,411,266.00 \n \nTransfers Out \n \n(1,250,000.00) (2,051,266.00) \n \n(360,000.00) (3,661,266.00) \n \nTotal Other Financing Sources and Uses \n \n$ (1,250,000.00) $ (2,051,266.00) $ 2,411,266.00 $ (360,000.00) $ (1,250,000.00) \n \nNet Change In Fund Balances $ (1,373,063.75) $ (2,264,255.72) $2,712,671.23 $ (1,171,762.83) $ (2,096,411.07) \n \nFUND BALANCES - BEGINNING \n \n4,708,957.78 3,067,515.00 . 748,248.12 4, 142,605.53 12,667,326.43 \n \nFUND BALANCES - ENDING \n \n$ 3,335,894.03 $ 803,259.28 $3,460,919.35 $ 2,970,842.70 $10,570,915.36 \n \nThe notes to the financial statements are an integral part of this statement. \n \n-35- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS \nTO THE STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nAmounts reported for governmental activities in the Statement of Activities (page 33) are different because: \n \nNet change in fund balances - total Governmental Funds (page 35) \n \n$ (2,096,411.07) \n \nGovernmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period. \n \n3,285,942.79 \n \nSome expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in ~\u003c?_vernmental funds. \n \n(103,648.71) \n \nChange in net assets of governmental activities (page 33) \n \n$ 1,085,883.01 \n \nThe notes to the financial statements are an integral part of this statement. \n \n-36- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY STATEMENT OF NET ASSETS PROPRIETARY FUND JUNE 30, 2002 \n \nASSETS Current Assets: Cash and Cash Equivalents \nLIABILITIES Current Liabilities: Accounts Payable \n \nBusiness-Type Activity - \n \nEnterprise Fund \n \nVan Pool \n \nVan Pool \n \nCurrent Year \n \nPrior Year \n \n$ 1,250,000.00 -$ - - - - - \n \n$ \n \n$ \n \nNET ASSETS Unrestricted \n \n$ 1,250,000.00 ~ $ = = ~ = = \n \nThe notes to the financial statements are an integral part of this statement. \n \n- 37- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS \nPROPRIETARY FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nOperating Revenues: Charges for Sales and Services: Passenger Fees \nOperating Expenses: Costs of Sales and Services Administration Depreciation Total Operating Expenses \nOperating Income \nNonoperating Expenses: Interest Expense \nIncome Before Transfers \nTransfers In \nChange In Net Assets \nTotal Net Assets - Beginning \nTotal Net Assets - Ending \n \nBusiness-Type Activity - \n \nEnterprise Fund \n \nVan Pool \n \nVan Pool \n \nCurrent Year \n \nPrior Year \n \n$ \n \n$ \n \n$ \n \n$ \n \n$ \n \n$ \n \n$ \n \n$ \n \n$ \n \n$ \n \n1,250,000.00 \n \n$ 1,250,000.00 $ \n \n$ 1,250,000.00 $ \n \nThe notes to the financial statements are an integral part of this statement. \n \n- 38- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY STATEMENT OF CASH FLOWS PROPRIETARY FUND \nFOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nCASH FLOWS FROM OPERATING ACTIVITIES Receipts From Customers and -Users \nCASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfer From General Fund \nCASH FLOWS FROM INVESTING ACTIVITIES Interest Received \nNet Increase in Cash and Cash Equivalents \nCash and Cash Equivalents, July 1 \nCash and Cash Equivalents, June 30 \nReconciliation of Operating Income to Net Cash Provided (Used) by Operating Activities: Operating Income \nAdjustments to Reconcile Operating Income to Net Cash Provided Used by Operating Activities: Depreciation Expense \nNet Cash Provided by Operating Activities \n \nBusiness-Type Activity - \n \nEnterprise Fund \n \nVan Pool \n \nVan Pool \n \nCurrent Year \n \nPrior Year \n \n$ \n \n$ \n \n$ 1,250,000.00 -$ - - - - - \n \n$ \n \n$ \n \n$ 1,250,000.00 $ \n \n$ 1,250,000.00 $ ====== \n \n$ \n \n$ \n \n$ \n \n$ \n \nThe notes to the financial statements are an integral part of this statement. \n \n-39- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nNOTE I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES \nA. Reporting Entity \nThe Georgia Regional Transportation Authority (Authority) is an instrumentality of the State of Georgia and a public corporation. The Authority was created by an Act of the General Assembly of the State of Georgia for the purposes of managing or .causing to be managed land transportation and air quality within certain areas of the State of Georgia. \nThe overall management of the business and affairs of the Authority is vested in a Board of Directors. The fifteen members that comprise the Board serve on a part-time basis and are appointed by the Governor for specific periods of time. The Board of Directors appoints an Executive Director who is responsible for the day-to-day operations of the Authority. \nThe Georgia Regional Transportation Authority is considered a component unit of the State of Georgia for financial reporting purposes because of the significance of its legal, operational and financial relationships with the State of Georgia. There are no component units of the Authority included in the accompanying financial statements. These reporting entity relationships are defined in Section 2100 of the Governmental Accounting Standards Board Codification of Governmental Accounting and Financial Reporting Standards. \nB. Government-wide and Fund Financial Statements \nThe government-wide financial statements (i.e., the statements of net assets and the statement of changes in net assets) report information on all of the nonfiduciary activities of the Authority. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. \nThe statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. \nSeparate financial statements are provided for governmental funds, and the proprietary fund. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. \n-40- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nC. Measurement Focus, Basis of Accounting and Financial Statement Presentation \nThe government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. State appropriatiof!S, grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. \nGovernmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Authority considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. \nInterest income associated with the current fiscal period is considered to be susceptible to accrual and so has been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the Authority. \nThe Georgia Regional Transportation Authority reports the following major governmental funds: \nThe General Fund is the Authority's primary operating fund. It accounts for all financial resources of the general government, except those that are required to be accounted for in another fund. \nThe Clayton County Bus Service Special Revenue Fund accounts for all financial resources that have been designated for the purpose of initiating and operating bus services in Clayton County. \nThe Restricted Income Special Revenue Fund accounts for those financial resources whose use is specifically restricted by statute to appropriation by the Authority. Interest income is the primary source of revenue and these monies are generally held in reserve to provide additional financial capacity if needed to supplement the funding of the numerous grant programs. \nThe Authority reports the following major proprietary fund: \nThe Van Pool Operations Proprietary Fund accounts for the operating activities of the van pool program. \n- 41 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nPrivate-sector standards of accounting and financial reporting issued prior to December 1, 1989, generally are followed in both the government-wide and proprietary fund financial statements to the extent that those standards do not conflict with or contradict guidance of the Governmental Accounting Standards Board. Governments also have the option of following subsequent private-sector guidance for their business-type activities and enterprise funds, subject to this same limitation. The Authority has elected not to follow subsequent private-sector guidance. \nAs a general rule the effect of interfund activity has been eliminated from the government-wide financial statements. The only exception to this general rule are in those instances where the elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. \nAmounts reported as program revenues include 1) charges to customers or applicants for goods, services or privileges provided; 2) operating grants and contributions; and 3) capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, the annual appropriations received from the State of Georgia are included in the general revenues category. \nProprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the Authority's enterprise fund are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. \nWhen both restricted and unrestricted resources are available for use, it is the Authority's policy to use restricted resources first, then unrestricted resources as they are needed. \nD. Assets, Liabilities, and Net Assets or Equity \nJ. Deposits and Investments \nThe Authority's Cash and Cash Equivalents are considered to be cash on hand, demand deposits with banks and other financial institutions, and the State investment pool that has the general characteristics of demand deposit accounts in that the Authority may deposit additional cash at any time and also may withdraw cash at any time without prior notice or penalty. \nThe State investment pool (Georgia Fund 1) is an external investment pool that is not registered with the Securities and Exchange Commission (SEC) but does operate in a manner consistent with the SEC's Rule 2a7 of the Investment Company Act of 1940. The State of Georgia's Office of Treasury and Fiscal Services (OTFS) manages Georgia Fund 1 in accordance with policies and procedures established by State law and the State Depository Board, the oversight Board of OTFS. This investment is valued at the pool's share price, $1.00 per share. \n-42 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nThe Authority does not have any risk exposure related to investments in derivatives or similar investments in Georgia Fund 1 as the investment policy of OTFS does not provide for investments in derivatives or similar investments through the Georgia Fund 1. \nThe Authority is authorized to invest in the following: (1) Bonds or obligations of the State of Georgia or obligations guaranteed by the State; (2) Bonds or obligations issued by the United States government or subsidiary corporations \nof the United States government fully guaranteed by such government; (3) Obligations of agencies of the United States government issued by the Federal Land \nBank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank and the Bank for Cooperatives; (4) Bonds or obligations issued by any public housing authority or municipality in the United States fully secured by a pledge of annual contributions under an annual contributions contract or contracts with the United States fully secured by requisition, loan, or payment agreement with the United States government; (5) Certificates of deposit issued by financial institutions located within the State of Georgia and insured by the Federal Deposit Insurance Corporation or any Georgia deposit insurance corporation; (6) Interest-bearing time deposits, repurchase agreements, reverse repurchase agreements, rate guarantee agreements, or similar banking arrangements within guidelines defined by statute; and (7) State operated investment pools. \nAt June 30, 2002, the Authority had no securities with a maturity of more than three months from the date of acquisition. \n2. Receivables and Payables \nActivity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either \"due to/from other funds\" (i.e., the current portion of interfund loans) or \"advances to/from other funds\" (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as \"due to/from other funds.\" Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as \"internal balances.\" \nAdvances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account in applicable governmental funds to indicate that they are not available for appropriation and are not expendable available financial resources. \n3. Inventories and Prepaid Items \nEven though the governmental funds had some expendable supplies (e.g., office and computer supplies) on hand at June 30, 2002, the quantities and dollar values were not material. \n- 43 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \n \nAccordingly, none are shown on the balance sheet at that date. The costs of such supplies are recorded as an expenditure at the time that the individual items are purchased. \n \nCertain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements. \n \n4. \n \nCapital Assets \n \nCapital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or businesstype activities columns in the government-wide financial statements. Capital assets are generally defined by the Authority as being those assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical costs or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. \n \nThe costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. \n \nMajor outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase of capital assets of business-type activities is included as part of the capitalized value of the assets constructed. \n \nProperty, plant, and equipment of the Authority is depreciated using the straight line method over the following estimated useful lives: \n \nGeneral Classification of Assets Improvements Other Than Buildings Vehicles Office Equipment Computer Equipment \n \nYears 7 \n5-7 5 - 10 3-5 \n \n5. Compensated Absences \n \nIt is the Authority's policy to permit employees to accumulate earned but unused vacation and sick pay benefits. There is no liability for unpaid accumulated sick leave since the government does not have a policy to pay any amounts when employees separate from service with the government. All vacation pay is accrued when incurred in the government-wide and proprietary fund financial statements. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee resignations and retirements. \n \n6. Long-term Obligations \n \nIn the government-wide financial statements and proprietary fund types in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the \n \n-44- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \napplicable governmental activities, business-type activities, or proprietary fund type statement of net assets. \n7. Fund Equity \nIn the fund financial statements, governmental funds report reservations of fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Designations of fund balance represent tentative management plans that are subject to change. \n8. Comparative Data I Reclassifications \nComparative total data for the prior year have been presented only for individual enterprise funds in the fund financial statements in order to provide an understanding of the changes in the financial position and operations of those funds. Also, certain amounts presented in the prior year data have been reclassified in order to be consistent with the current year's presentation. \n \nNOTE II: RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS \n \nA. Explanation of certain Differences Between the Governmental Fund Balance Sheet and the Government-Wide Statement of Net Assets \n \nThe governmental fund balance sheet includes a reconciliation between Jund balance - total governmental funds and net assets - governmental activities as reported in the government-wide statement of net assets. One element of that reconciliation explains that \"long-term liabilities, including compensated absences, are not due and payable in the current period and therefore are not reported in the funds.\" The details of this $103,648.71 difference are as follows: \n \nCompensated Absences Accrued FICA Payable \n \n$96,283.06 7,365.65 \n \nNet Adjustment to reduce Jund balance - total governmental \n \nfunds to arrive at net assets - governmental activities \n \n$103,648.71 \n \nB. Explanation of Certain Differences Between the Governmental Fund Statement of Revenues, Expenditures and Changes in Fund Balances and the Government-Wide Statement of Activities \n \nThe governmental fund statement of revenues, expenditures and changes in fund balances includes a reconciliation between net changes in fund balances - total governmental funds and changes in net assets ofgovernmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains that \"Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is \n \n-45- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \n \nallocated over their estimated useful lives and reported as depreciation expense.\" The details of this $3,285,942.79 difference are as follows: \n \nCapital Outlay Depreciation Expense \n \n$3,738,003.03 (452,060.24) \n \nNet Adjustment to increase net changes in fund balances - total governmental funds to arrive at changes in net assets of governmental activities \n \n$3,285,942.79 \n \nAnother element of that reconciliation states that \"Some expenses reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds.\" The details of this $103,648.71 difference are as follows: \n \nCompensated Absences Accrued FICA Payable \n \n$96,283.06 7,365.65 \n \nNet Adjustment to decrease net changes in fund balance - total governmental funds to arrive at changes in net assets of governmental activities \n \n$103,648.71 \n \nNOTE III: STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY \nA. Budgetary Information \nAn internal operations budget for the General Fund is prepared by the Authority for management purposes. The budget is not subject to review or approval by the Legislature of the State of Georgia and, therefore, is a nonappropriated budget. For each of the Special Revenue Funds, except for the Restricted Income Special Revenue Fund, a project-length budget is prepared for managementcontrol purposes. \nB. Encumbrance Recognition \nEncumbrance accounting is employed in the governmental funds. Encumbrances (e.g., purchase orders, contracts) outstanding at year-end are reported as reservations of fund balances and do not constitute expenditures or liabilities because the commitments will be honored during the subsequent fiscal year. \nNOTE IV: DETAILED NOTES ON ALL FUNDS \nA. Deposits and Investments \n1. State ofGeorgia Collateralization Statutes and Policies \n \n-46- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nFunds of the State of Georgia cannot be placed in a depository paying interest longer than ten days without the depository providing a surety bond to the State. In lieu of a surety bond, the depository may pledge as collateral any one or more of the following securities as enumerated in the Official Code of Georgia Annotated (OCGA) Section 50-17-59: \n(1) Bonds, bills, certificates of indebtedness, notes or other direct obligations of the United States or of the State of Georgia. \n(2) Bonds, pills, certificates of indebtedness, notes, or other obligations of the counties or municipalities of the State of Georgia. \n (3) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose. \n(4) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia. \n(5) Bonds, bills, certificates of indebtedness, notes, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest, or debt obligations issued by or securities guaranteed by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Corporation, or the Federal National Mortgage Association. \n(6) Guarantee or insurance of accounts provided by the Federal Deposit Insurance Corporation. \nAs authorized in the OCGA Section 50-17-53, the State Depository Board has adopted policies which allow agencies of the State of Georgia the option of exempting demand deposits from the collateral requirements. \nIn addition, laws governing the Authority require the portion of certificates of deposits invested in excess of Federal or State insurance to be secured by deposit of securities with the Federal Reserve Bank of Atlanta, or national or state bank located within the State of Georgia, in an aggregate principal.amount equal at least to the amount of such excess. Allowable securities are those as defined in Note I: D. 1. Deposits and Investments, items 1 through 4, and direct and general obligations of any county or municipality in the State of Georgia. \n2. Demand Deposit Balances \nAt year end, the Authority's carrying amount of deposits was $949,862.82 and the bank balance was $2,833,795.53. Of the bank balance, $100,000.00 was covered by federal depository insurance. The remaining balance of $2,733,795.53 was collateralized with securities held by the pledging financial institution's trust department or agent, but not in the Authority's name. \n-47- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \n \n3. Investment Balances \n \nThe carrying amount of the investment balance as of June 30, 2002 shown below is maintained \n \nin an investment pool by the Office of Treasury and Fiscal Services and is not subject to risk \n \ncategorization. \n \nFair Value/ \n \nType of Investment \n \nCarrying Amount \n \nState Investment Pool \n \n$8,986,244.83 \n \n. B. Receivables \n \nReceivables as of year end for the Authority's individual major funds and nonmajor funds in the aggregate are as follows: \n \nReceivables: Intergovernmental: Georgia Department of Transportation Federal Transit Administration State Road and Tollway Authority Total Intergovernmental Receivables \nOther \nTotal Receivables \n \nGeneral \n \nClayton County Bus \n \nNonmajor Funds \n \nTotal \n \n$ \n \n-$ \n \n$1,142,717.38 $1,142,717.38 \n \n276,011.00 1,917,095.00 2,193,106.00 \n \n105,887.04 \n \n105,887.04 \n \n$ \n \n- $276,011.00 $3,165,699.42 $3,441,710.42 \n \n42,969.09 \n \n42,969.09 \n \n$42,269.02  $216,Qll ,00 $3,165,692.42 $3,484,672.51 \n \nC. Capital Assets \n \nCapital Asset activity for the fiscal year ended June 30, 2002 was as follows: \n \nGovernmental Activities: Capital Assets, Being Depreciated: \nImprovements Other Than Buildings Machinery and Equipment Total Capital Assets Being Depreciated \nLess: Accumulated Depreciation For: Improvements Other Than Buildings Machinery and Equipment \nTotal Accumulated Depreciation \nGovernmental Activities Capital Assets, Net \n \nBeginning Balance \n \nIncreases Decreases \n \nEnding Balance \n \n$ \n \n$ 40,406.85 $ \n \n200,945.44 3,697,596.18 \n \n$200,945.44 $3,738,003.03 $ \n \n$ 40,406.85 3,898,541.62 \n$3,938,948.47 \n \n$ \n \n- $ (3,244.69) \n \n(28,889.27) (448,815.55) \n \nlli8,889.27) $(452,060.24) \n \n$112,Q56, 17 $3,285,942.72 \n \n$ \n \n- $ (3,244.69) \n \n(477,704.82) \n \n~$_ _ $(480,949.51) \n \n$ \n \n$3.45:Z,998,26 \n \n-48- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \n \nDepreciation expense for the fiscal year ended June 30, 2002 was $452,060.24 and the total amount was charged to the Transportation function of the Authority. \n \nD. Interfund Receivables, Payables and Transfers \n \nThe composition of interfund balances as of June 30, 2002, is as follows: Due To / From Other Funds: \n \nReceivable Fund General \n \nPayable Fund \nNonrnajor Fund: Northwest Connectivity Study Nonrnajor Fund: Northern Sub-Area Study Nonrnajor Fund: QuickLink Bus Service \n \nAmount \n$182,045.84 729,470.34 89,301.14 \n \nTotal Due To/ From Other Funds \n \n$1.000,817.32 \n \nInterfund Transfers: \nTransfers Out: General Fund Clayton County Bus Nonmajor Fund: Northwest Connectivity Study \nTotal Transfers Out \n \nRestricted Income \n$ 2,051,266.00 \n \nTransfers In: \nVan Pool $1,250,000.00 \n \nTotal Transfers In $1,250,000.00 2,051,266.00 \n \n360,000.00 $2.411.266.00 \n \n360,000.00 $1,250,000.00 $3.661.266.00 \n \nE. Operating Leases \n \nThe Authority has entered into certain agreements to lease real property and equipment that are classified as operating leases. These leases generally contain provisions that, at the expiration date of the original term of the lease, the Authority has the option of renewing the lease on a year-to-year basis. Amounts are included only for multi-year leases and for cancellable leases for which an option to renew for the subsequent fiscal year has been exercised. The future minimum commitments for operating leases as of June 30, 2002, are listed below. \n \nFiscal Year Ending June 30 2003 2004 2005 2006 \nTotal Operating Lease Payments \n \nAmount $ 347,240.09 \n372,729.78 383,861.86 327,929.80 \n$1,431,761.53 \n \n-49- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \n \nExpenditures for rental of real property and equipment under operating leases for the year ended June 30, 2002, totaled $377,666.40. \n \nF. Long-Term Debt \n \nAt the present time, the only noncurrent liability reported by the Authority relates to compensated absences. Compensated absences represent obligations of the Authority relating to employees' rights to receive compensation for future absences based upon services already rendered. This obligation relates only to vesting accumulating annual and compensatory leave in which payment is probable and can be reasonably estimated. \n \nChanges in Long-Term Liabilities \n \nLong-term liability activity for the fiscal year ended June 30, 2002, was as follows: \n \nGovernmental Activities: Compensated Absences Accrued FICA Payable \nGovernmental Activity Long-Term Liabilities \n \nBeginning Balance \n \nAdditions Reductions \n \nEnding Balance \n \nDue Within One Year \n \n$73,275.71 $68,009.57 $45,002.22 $96,283.06 $48,883.36 \n \n5,605.60 \n \n5,202.73 \n \n3,442.68 \n \n7,365.65 \n \n3,739.58 \n \n$78,881.31 $73,212.30 $48,444.20 $1Q3,648.:Zl $52,622.24 \n \nNOTE V: OTHER INFORMATION \nA. Public Entity Risk Pool \nThe Department of Community Health administered for the State of Georgia a program of health benefits during fiscal year 2002 for the employees of units of government of the State of Georgia, units of county government and local education agencies located within the State of Georgia. This plan is funded by participants covered in the plan, by employers' contributions paid by the various units of government participating in the plan, and appropriations made by the General Assembly of Georgia. The Department of Community Health contracted with Blue Cross Blue Shield of Georgia to process claims in accordance with the State Employees' Health Benefit Plan as established by the Department of Community Health. \nB. Other Risk Management \nThe Department of Administrative Services (DOAS) has the responsibility for the State of Georgia of making and carrying out decisions that will minimize the adverse effects of accidental losses that involve State government assets. The State believes it is more economical to manage its risks internally and set aside assets for claim settlement. Accordingly, DOAS processes claims for the risk of loss to which the State is exposed, including general liability, property and casualty, workers' compensation, unemployment compensation, and law enforcement officers' \n \n-50- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nindemnification. Limited amounts of commercial insurance are purchased applicable to property, employee and automobile liability, fidelity and certain other risks. \nThe Authority is part of the State of Georgia reporting entity, and as such, is covered by the State of Georgia risk management program administered by DOAS. Premiums for the risk management program are charged to the various state organizations by DOAS to provide claims servicing and claims payment. \nC.  Contingent Liabilities \nAmounts received or receivable from grant agencies are subject to audit and adjustments by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures that may be disallowed by the grantor cannot be determined at this time, although the Authority expects such amounts, if any, to be immaterial. \nLitigation, claims and assessments filed against the Authority, if any, are generally considered to be actions against the State of Georgia. Accordingly, significant litigation, claims and assessments pending against the State of Georgia are disclosed in the State of Georgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 2002. Although the outcome of these lawsuits is not presently determinable, in the opinion of the Authority's counsel the resolution of these matters will not have a material adverse effect on the financial condition of the Authority. \nD. Post Employment Benefits \nIn addition to the pension benefits described in Note V: E. that follows, the State of Georgia provides postretirement health care benefits through the State Health Benefit Plan to retirees pursuant to OCGA Section 45-18. An individual eligible for these benefits must have been a full time employee at the time of retirement of either the State of Georgia or a county social service agency and must be receiving monthly retirement benefits from either the ERS or a county employees' retirement system. \nThe State Heath Benefit Plan (Plan) is a public entity risk pool funded by employee and employer contributions. Employees and retirees subject to the Plan. contribute amounts determined by the Department of Community Health for various health insurance plans. The various agencies of the State contribute to the health insurance fund based upon amounts recommended by the Department on Community Health and set forth in the State of Georgia's Appropriations Act. The Plan is funded on a \"pay-as-you-go\" basis. Expenses of the Plan include provisions for incurred but not reported claims. The portion of the employer contributions and expenses attributable to postretirement health care benefits cannot be reasonably estimated. \n- 51 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nE. Employee Retirement Systems and Pension Plans \n1. Employees' Retirement System Of Georgia \nPlan Description \nThe Authority participates in the Employees' Retirement System of Georgia (\"ERS\"), a singleemployer, defined benefit plan established by the General Assembly of Georgia for the purpose of providing retirement allowances for employees of the State of Georgia. The benefit structure of ERS is defined by State statute and was significantly modified on July 1, 1982. Unless elected otherwise, an employee who currently maintains membership with ERS based upon State employment that started prior to July 1, 1982, is an \"old plan\" member subject to the plan provisions in effect prior to July 1, 1982. All other members are \"new plan\" members subject to the modified plan provisions. \nUnder both the old plan and the new plan, members become vested after 10 years of creditable service. A member may retire and receive normal retirement benefits after completion of 10 years of creditable service and attainment of age 65. If 10 years of service is completed and age 60 is reached, the member may retire with a reduced benefit. Additionally, there are certain provisions allowing for retirement after 25 years of service regardless of age. \nRetirement benefits paid to members are based upon a formula which considers the monthly average of the member's highest twenty-four consecutive calendar months of salary, the number of years of creditable service, and the member's age at retirement. Postretirement cost-of-living adjustments are also made to member's benefits. The normal retirement pension is payable monthly for life; however, options are available for distribution of the member's monthly pension at reduced rates to a designated beneficiary upon the member's death. Death and disability benefits are also available through ERS. \nIn addition, the ERS Board of Trustees created the Supplemental Retirement Benefit Plan (SRBP) effective January 1, 1998. The SRBP was established as a qualified governmental excess benefit plan in accordance with Section 415 of the Internal Revenue Code (IRC) as a portion of ERS. The purpose of SRBP is to provide retirement benefits to employees covered by ERS whose benefits are otherwise limited by IRC 415. \nThe ERS issues a separate stand alone financial audit report and a copy can be obtained through the Georgia Department of Audits and Accounts. \nFunding Policy \nAs established by State statute, all full-time employees of the State of Georgia and its political subdivisions, who are not members of other state retirement systems, are eligible to participate in the ERS. Both employer and employee contributions are established by State statute. The Authority's payroll for the year ended June 30, 2002, for employees covered by ERS was $1,846,633.54. The Authority's total payroll for all employees was $2,109,918.01. \n-52 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \n \nUnder the old plan, member contributions consist of 4% of annual compensation up to $4,200.00 and 6% of annual compensation in excess of $4,200.00. Of these member contributions, the employee pays the first 1.25% and the employer pays the remainder on behalf of the employee. Under the new plan, member contributions consist solely of 1.25% of annual compensation paid by employee. The Authority also is required to contribute at a specified percentage of active member payroll determined annually by actuarial valuation. For the year ended June 30, 2002, the ERS employer contribution rate for the Authority amounted to 10.75% of covered payroll and included the amounts contributed on behalf of the employee under the old plan referred to above. Employer contributions are also made on amounts paid for accumulated leave to retiring employees. \n \nTotal contributions to the plan made during fiscal year 2002 amounted to $226,175.53, of which $198,474.93 was made by the Authority and $27,700.60 was made by employees. These contributions met the requirements of the plan. There is no net pension obligation for the plan. Employer contributions (annual pension cost) for the current fiscal year and the preceding two fiscal years are as follows: \n \nFiscal Year \n2002 2001 2000 \n \nAnnual Pension Cost {APC} \n$198,474.93 220,599.81 106,884.12 \n \nPercentage OfAPC \nContributed \n100.00% 100.00% 100.00% \n \nNet Pension Obligation \nNIA NIA NIA \n \nActuarial and Trend Information \nActuarial and historical trend information is presented in the ERS June 30, 2002, financial audit report which may be obtained through the Georgia Department of Audits and Accounts. \n2. Teachers Retirement System Of Georgia \nPlan Description \nThe Authority also participates in the Teachers Retirement System of Georgia (TRS), a costsharing multiple-employer defined benefit pension plan established by the general Assembly of Georgia for the purpose of providing retirement allowances and other ben.efits for teachers of the State of Georgia. TRS provides service retirement and survivor's benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. \n \n-53 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS . JUNE 30, 2002 \n \nFunding Policy \n \nEmployees of the Authority who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Authority makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. \n \nFor fiscal year 2002, the employer contribution rate is 9.24% for covered employees. Employer contributions for the current fiscal year and the preceding two fiscal years are as follows: \n \nFiscal Year 2002 2001 2000 \n \nPercentage  Contributed \n100.00% 100.00% 100.00% \n \nRequired Contribution \n$16,471.24 $19,019.72 $12,419.04 \n \nF. Leave Policies \n \nEmployees earn ten hours of sick leave each month with a maximum accumulation of ninety days. Unused accumulated sick leave does not vest with the employee and is forfeited upon retirement or termination of employment. \n \nEmployees earn annual leave ranging from ten to fourteen hours each month depending upon the employees' length of continuous State service with a maximum accumulation of forty five days. Employees are paid for unused accumulated annual leave upon retirement or termination of employment. \n \nCertain employees who retire with one hundred and twenty days or more of forfeited annual and sick leave are entitled to additional service credit in the Employees' Retirement System of Georgia. \n \nG. Change in Accounting Pronouncements \n \nIn fiscal year 2002, the Authority implemented the following new accounting standards issued by the Governmental Accounting Standards Board (GASB): \n \n Statement 34, \"Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments\"; \n \n \n \nStatement 37, \"Basic Financial Statements - and Management's Discussion and Analysis \n \n- for State and Local Governments: Omnibus\"; and \n \n Statement 38, \"Certain Financial Statement Note Disclosures\". \n \n- 54- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2002 \nStatement 34, as amended by Statement 37, establishes new financial reporting requirements for state and local governments. It requires new information and restructures much of the information that governments have presented in the past. Comparability with reports issued in prior years is affected. Statement 38 requires certain note disclosures when Statement 34 is implemented. \n- 55- \n \n THIS PAGE \nIS INTENTIONALLY \nBLANK \n- 56- \n \n COMBINING FUND STATEMENTS \nAND SCHEDULES \n- 57- \n \n NONMAJOR GOVERNMENTAL FUNDS \nSpecial Revenue Funds \nSpecial Revenue Funds are used to account for specific revenues that are legally restricted to expenditures for particular purposes. \nNorthern Sub-Area Study Fund - This fund is used to account for the two federal grants that are restricted to conducting a comprehensive land-use and transportation study of the north Atlanta area and more specifically the Ga 400 Corridor. \nNorthwest Connectivity Study Fund - This fund is used to account for the federal grant and the local match that are restricted to conducting a study to determine the preferred alignment and appropriate technology for providing transit service in Atlanta's northwest corridor. \nRegional Van Pool Fund - This fund is used to account for the local match and federal grant monies that will be used to market the van pool program and to provide fare incentives to the private van pool operators. \nPerimeter Circulator System Fund - This fund is used to account for the federal grant and the local match that are restricted to conducting a study to evaluate fixed guideway and bus alternatives to provide vital connecting links between MARTA stations and local trip generators within the Perimeter activity area. \nRegional Transit Study Fund - This fund is used to account for the federal grant and the local match that are restricted to conducting a study to determine how best to connect the current and future rail and bus transit systems in metro Atlanta into a seamless regional transportation network. \nSMARTRAQ Project Fund - This fund is used to account for the federal grant and the local match that are restricted to conducting a study to obtain a better understanding of the relationship between land use and transportation. QuickLink Bus Service Fund - This fund is used to account for those funds which are restricted to help fund the pilot project of providing commuter bus service between Macon and Atlanta through a public/private partnership with Greyhound Lines, Inc. \n- 58- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY COMBINING BALANCE SHEET \nNONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2002 \n \nASSETS Cash And Cash Equivalents Receivables: Intergovernmental \n \nNorthern Sub-Area \nStudy \n \nNorthwest Connectivity \nStudy \n \nSpecial Revenue Funds \n \nRegional Van Pool \n \nPerimeter Circulator \nSystem \n \nRegional Transit Study \n \nSMARTRAQ Project \n \nQuicklink Bus \nService \n \nTotal \nNonmajor Governmental \nFunds \n \n$ \n \n$ \n \n$1,200,000.00 $400,000.00 $ 390,231.87 $ 49,397.13 $ \n \n$2,039,629.00 \n \n902,465.38 1,288, 111.00 \n \n628,984.00 240,252.00 105,887.04 3,165,699.42 \n \nTotal Assets \nI \nUl \\0 \n \n$902,465.38 $1,288,111.00 $1,200,000.00 $400,000.00 $1,019,215.87 $289,649.13 $105,887.04 $5,205,328.42 \n \nLIABILITIES AND FUND BALANCES \n \nLiabilities: \n \nAccounts Payable \n \n$172,995.04 $ 388,092.88 $ \n \nDue To Other Funds \n \n729,470.34 182,045.84 \n \n$ \n \n$ 540,179.91 $115,814.67 $ 16,585.90 $1,233,668.40 \n \n89,301.14 1,000,817.32 \n \nTotal Liabilities \n \n$902,465.38 $ 570,138.72 $ \n \n$ \n \n$ 540,179.91 $115,814.67 $105,887.04 $2,234,485.72 \n \nFund Balances: Unreserved, Undesignated \n \n717,972.28 1,200,000.00 400,000.00 479,035.96 173,834.46 \n \n2,970,842.70 \n \nTotal Liablities and Fund Balances \n \n$902,465.38 $1,288,111.00 $1,200,000.00 $400,000.00 $1,019,215.87 $289,649.13 $105,887.04 $5,205,328.42 \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES \nNONMAJOR GOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nREVENUES Intergovernmental \nTotal Revenues \n \nNorthern Sub-Area \nStud:t  \n \nNorthwest Connectivity \nStud:t \n \nSpecial Revenue Funds \n \nRegional Van Pool \n \nPerimeter Circulator S:tstem \n \nRegional Transit Stud:t \n \nSMARTRAQ Project \n \nQuicklink Bus \nService \n \nTotal \nNonmajor Governmental \nFunds \n \n$ 2,865,882.11 $ 1,288, 111.00 $ $ 2,865,882.11 $1,288,111.00 $ \n \n$ \n \n$ 963,858.00 $ 1,024,657.00 $ 259,854.96 $ 6,402,363.07 \n \n$ \n \n$ 963,858.00 $1,024,657.00 $ 259,854.96 $ 6,402,363.07 \n \nEXPENDITURES \n \nCurrent: \n \nTransportation \n \nCapital Outlay: \n \nI \n \nTransportation \n \n0\\ \n \n0 \n \nTotal Expenditures \n \n$ 2,865,882.11 $1,610,138.72 $ $ 2,865,882.11 $1,610,138.72 $ \n \n$ \n \n$1,204,822.04 $ 1,273,428.07 $ 243,763.11 $ 7, 198,034.05 \n \n16,091.85 \n \n16,091.85 \n \n$ \n \n$1,204,822.04 $ 1,273,428.07 $ 259,854.96 $ 7,214,125.90 \n \nDeficiency of Revenues Under Expenditures $ \nOTHER FINANCING USES Transfers Out \n \n$ (322,027.72) $ (360,000.00) \n \n$ \n \n$ (240,964.04) $ (248,771.07) $ \n \n$ (811,762.83) \n \n(360,000.00) \n \nNet Change In Fund \n \nBalances \n \n$ \n \nFUND BALANCES - BEGINNING \n \n$ (682,027.72) $ \n \n$ \n \n$ (240,964.04) $ (248,771.07) $ \n \n1,400,000.00 1,200,000.00 400,000.00 \n \n720,000.00 \n \n422,605.53 \n \n$ (1,171,762.83) 4,142,605.53 \n \nFUND BALANCES - ENDING \n \n$ \n \n$ 717,972.28 $ 1,200,000.00 $400,000.00 $ 479,035.96 $ 173,834.46 $ \n \n$ 2,970,842.70 \n \n CAPITAL ASSETS USED IN THE OPERATION OF \nGOVERNMENTAL FUNDS \n- 61 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS \nCOMPARATIVE SCHEDULES BY SOURCE JUNE 30, 2002 AND 2001 \n \nGovernmental Funds Capital Assets: Improvements Other Than Buildings Machinery and Equipment \nTotal Governmental Funds Capital Assets \n \nJune 30, 2002 June 30, 2001 \n \n$ 40,406.85 $ \n \n3,898,541.62 \n \n200,945.44 \n \n$ 3,938,948.47 $ 200,945.44 \n \nInvestments in Governmental Funds Capital Assets by Source: General Fund Special Revenue Funds \n \n$ 237,339.62 $ 3,701,608.85 \n \n200,945.44 \n \nTotal Governmental Funds Capital Assets \n \n$ 3,938,948.47 $ 200,945.44 \n \n- 62- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS \nSCHEDULE BY FUNCTION JUNE 30, 2002 \n \nFunction Transportation \n \nImprovements Other Than Buildings \n \nMachinery And \nEgui12ment \n \nTotal \n \n$ 40,406.85 $ 3,898,541.62 $ 3,938,948.47 \n \n- 63- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS \nSCHEDULE OF CHANGES BY FUNCTION AND ASSET CLASSIFICATION FOR THE FISCAL YEAR ENDED JUNE 30, 2002 \n \nGovernmental Funds Capital Assets: Transportation Improvements Other Than Buildings Machinery and Equipment \n \nGovernmental Funds Capital \nAssets Jul~ 1, 2001 \n$ \n200,945.44 \n \nAdditions \n$ 40,406.85 \n3,697,596.18 \n \nDeletions \n$ \n \nGovernmental Funds Capital \nAssets June 30, 2002 \n$ 40,406.85 \n3,898,541.62 \n \nTotal Governmental Funds Capital Assets $ 200,945.44 $ 3,738,003.03 $ \n \n$ 3,938,948.47 \n \n- 64- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY SCHEDULE OF EXPENDITURES BY OBJECT AND FUNCTION \nGOVERNMENTAL ACTIVITIES FISCAL YEAR ENDED JUNE 30, 2002 \n \nTRANSPORTATION Current: Personal Services: Salaries and Wages Employer's Contributions for: F.I.C.A. Retirement Health Insurance Unemployment Compensation Insurance Workers' Compensation Insurance Personal Tort Liability Total Personal Services \nRegular Operating Expenses: Motor Vehicle Expenses Printing, Publications and Media Supplies and Materials Repairs and Maintenance Accountable Equipment Rents (Other Than Real Estate) Other Operating Expenses Total Regular Operating Expenses \nTravel Expenses \nReal Estate Rentals \nPer Diem, Fees and Contracts Per Diem and Fees Reimburseable Expenses Contracts Total Per Diem, Fees and Contracts \nSoftware \nTelecommunications \n \nGENERAL FUND \n \nSPECIAL REVENUE \nFUNDS \n \nTOTAL \n \n$ 2,057,996.75 $ \n141,250.39 214,208.60 273,866.73 \n624.00 10,764.00 9,922.00 $ 2,708,632.47 $ \n \n6,919.04 $ 2,064,915.79 \n \n529.31 \n \n141,779.70 \n \n737.57 941.68 \n \n214,946.17 274,808.41 \n624.00 \n \n10,764.00 9,922.00 \n \n9,127.60 $ 2,717,760.07 \n \n$ 2,434.28 $ 42,522.69 76,472.43 19,591.72 46,012.76 32,154.16 89,070.69 \n$ 308,258.73 $ \n$ 52,511.42 $ \n$ 354,193.55 $ \n \n572.01 $ 1,397.98 3,834.96 48,876.96 12,486.39 10,910.00 134,634.92 212,713.22 $ \n252.10 $ \n$ \n \n3,006.29 43,920.67 80,307.39 68,468.68 58,499.15 43,064.16 223,705.61 520,971.95 \n52,763.52 \n354,193.55 \n \n$ 1,560,898.89 $ 8,755.64 \n$ 1,569,654.53 $ $ 85,228.94 $ $ 64,883.07 $ \n \n6,398,359.24 \n2,674,825.50 9,073,184.74 \n \n$ 7,959,258.13 8,755.64 \n2,674,825.50 \n$ 10,642,839.27 \n \n$ 85,228.94 \n \n$ 64,883.07 \n \nTotal Current Expenditures \nCapital Outlay: Computer Equipment Motor Vehicles Improvements Other Than Buildings Total Capital Outlay \n \n$ 5,143,362.71 $ \n$ 14,235.18 $ 22,159.00 \n$ 36,394.18 $ \n \n9,295,277.66 $ 14,438,640.37 \n \n3,661,202.00 40,406.85 \n3,701,608.85 \n \n$ 14,235.18 3,683,361.00 40,406.85 \n$ 3,738,003.03 \n \nTotal Expenditures $ 5,179,756.89 $ 12,996,886.51 $ 18, 176,643.40 \n \n- 65- \n \n THIS PAGE \nIS INTENTIONALLY \nBLANK \n- 66- \n \n STATISTICAL SECTION \n- 67- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY GOVERNMENT-WIDE EXPENSES BY FUNCTION LAST THREE FISCAL YEARS (NOTE 1 ) \n \nFiscal Year \n2000 2001 2002 \n \nT ransi;2ortation \n$ 2,619,273.34 $ \n4,887,567.14 , 14,994,349.32 \n \nVan Pool \n \nTotal Exi;2enses \n$ 2,619,273.34 \n4,887,567.14 14,994,349.32 \n \nTOTAL GOVERNMENT-WIDE EXPENSES \n \nFY 2000 \n \nFY 2001 \n \nFY 2002 \n \nNote 1: The 2000 fiscal year was the first year of operations for the Georgia Regional Transportation Authority. \n \n- 68- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY GOVERNMENT-WIDE REVENUES \nLAST THREE FISCAL YEARS (NOTE 1) \n \nFiscal Year \n2000 2001 2002 \n \nPROGRAM REVENUES \n \nOperating \n \nCapital \n \nCharges \n \nGrants \n \nGrants \n \nFor \n \nAnd \n \nAnd \n \nServices Contributions Contributions \n \nGENERAL REVENUES \n \nUnrestricted \n \nState \n \nInvestment \n \nAQQrOQriations \n \nEarnings \n \nTotal Revenues \n \n$ \n \n$ \n \n$ \n \n$10,307,139.00 $ 127,606.35 $ 10,434,745.35 \n \n200,000.00 \n \n8,777,338.00 \n \n620,641.77 \n \n9,597,979.77 \n \n457,235.29 9,088,278.96 2,964,505.85 \n \n4,518,807.00 301,405.23 17,330,232.33 \n \nGOVERNMENT-WIDE REVENUES BY TYPE \n \n$18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 \n$8,000,000 $6,000,000 $4,000,000 $2,000,000 \n$0 \n \nFY 2000 \n \nFY 2001 \n \nFY 2002 \n \n Investment Earnings GI State Appropriations  Capital Grants l!l Operating Grants rnJ Charges For Services \n \nNote 1: \n \nThe 2000 fiscal year was the first year of operations for the Georgia Regional Transportation Authority. \n \n- 69- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY GENERAL GOVERNMENTAL EXPENDITURES BY CLASSIFICATION \nLAST THREE FISCAL YEARS (NOTE 1 ) \n \nFiscal Year \n \nTransportation \n \nCapital Outlay \n \nTotal Expenditures \n \n2000 2001 2002 \n \n$ 2,554,101.87 $ 86,715.39 $ 2,640,817.26 \n \n4,608,552.91 \n \n116,028.52 \n \n4,724,581.43 \n \n14,438,640.37 3,738,003.03 18,176,643.40 \n \nTOTAL GOVERNMENTAL EXPENDITURES BY CLASSIFICATION \n \n$20,000,000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 \n$8,000,000 $6,000,000 $4,000,000 $2,000,000 \n$0 \n \nFY 2000 \n \nFY 2001 \n \nFY 2002 \n \nl!J Capital Outlay Im Transportation \n \nNote 1: The 2000 fiscal year was the first year of operations for the Georgia Regional Transportation Authority. \n \n- 70- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY GENERAL GOVERNMENTAL REVENUES BY SOURCE \nLAST THREE FISCAL YEARS (NOTE 1) \n \nFiscal Year \n \nIntergovernmental \n \nCharges For \nServices \n \nInterest Earned \n \nOther Revenues \n \nTotal Revenues \n \n2000 2001 2002 \n \n$ 10,307,139.00 $ \n \n$ 127,606.35 $ \n \n8,977,338.00 \n \n620,641.77 \n \n16,566,591.81 456,031.89 \n \n301,405.23 \n \n$ 6,203.40 \n \n10,434,745.35 9,597,979.77 \n17,330,232.33 \n \nGENERAL GOVERNMENTAL REVENUES BY SOURCE \n \n$18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 \n$8,000,000 $6,000,000 $4,000,000 $2,000,000 \n$0 \n \nFY 2000 \n \nFY 2001 \n \nFY 2002 \n \n Other Revenues  Interest Earned El Charges For Services l!I Intergovernmental \n \nNote 1: \n \nThe 2000 fiscal year was the first year of operations for the Georgia Regional Transportation Authority. \n \n- 71 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY POPULATION GROWTH OF COUNTIES IN NONATTAINMENT AREA \nCOMPARISON OF 2000 AND 1990 CENSUS DATA \n \nName Of Nonattainment \nJurisdiction \nCherokee County Clayton County Cobb County Coweta County DeKalb County Douglas County Fayette County Forsyth County Fulton County Gwinnett County Henry County Paulding County Rockdale County \nTotal Population of Nonattainment Area \n \nPoeulation Per Census Data \n \n2000 \n \n1990 \n \n141,903 236,517 607,751 \n89,215 . 665,865 \n92,174 91,263 98,407 816,006 588,448 119,341 81,678 70,111 \n \n90,204 181,436 447,745 \n53,853 546,174 \n71,120 62,415 44,083 648,776 352,910 58,741 41,611 54,091 \n \nPercent Change Over Period \n57.31% 30.36% 35.74% 65.66% 21.91% 29.60% 46.22% 123.23% 25.78% 66.74% 103.16% 96.29% 29.62% \n \nI 3,698,679 \n \nI 2,653,159 \n \n39.41%1 \n \nData Source: Bureau of the Census \n \n-72 - \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY MEMBER COUNTIES OF THE ATLANTA REGIONAL COMMISSION (ARC) \nCALCULATION OF POPULATION DENSITY (PERSONS PER ACRE) COMPARISON OF 2000 AND 1990 DATA \n \nName Of ARC Member \nJurisdiction \nAtlanta Region \nCherokee County Clayton County Cobb County DeKalb County Douglas County Fayette Gou nty Fulton County Gwinnett County Henry County Rockdale County \n \nLand Area (Number of Acres) \n \n2000 \n \nI I \n \n1990 \n \nDensity \n \nDensity \n \nEstimated (Persons Estimated (Persons \n \nPopulation Per Acre) Population Per Acre) \n \n1,911,396 \n271,200 91,294 \n217,741 171,700 127,560 126,333 338,364 277,032 206,522 \n83,645 \n \n3,304,000 \n143,500 224,400 585,800 622,300 \n96,100 94,700 798,300 549,800 120,000 69,100 \n \n1.73 \n0.53 2.46 2.69 3.62 0.75 0.75 2.36 1.98 0.58 0.83 \n \n2,557,800 \n91,000 184,100 453,400 553,800 \n71,700 62,800 670,800 356,500 59,200 54,500 \n \n1.34 \n0.34 2.02 2.08 3.23 . 0.56 0.50 1.98 1.29 0.29 0.65 \n \nData Source: Atlanta Regional Commission \n \n- 73- \n \n GEORGIA REGIONAL TRANSPORTATION AUTHORITY ATLANTA METROPOLITAN AREA \nMISCELLANEOUS TRANSPORTATION STATISTICS JUNE 30, 2002 \n \nAverage Number of Vehicles Per Household Average Commute Time In Minutes Fatal Accidents Per 100,000 Persons Daily Miles Driven Per Person (DVMT} Amount of Congested Travel (Percent of Peak Vehicle Miles Traveled) Percent of Commuters Using Transit Percent of Commuters Walking To Work Average Annual Traffic Delay In Minutes \n \n1.81 31.31 35.51 33.80 79.00% 3.92% 1.31% 32.69 \n \nData Source: The Sprawl Index Fact Sheet - Rutgers and Cornell Universities \n \n- 74- \n \n COMPLIANCE SECTION \n- 75- \n \n THIS PAGE \nIS INTENTIONALLY \nBLANK \n- 76- \n \n w. RUSSELL \n \nHINTON \n \nSTATE AUDITOR \n \n(404) 656-2174 \n \nDEPARTMENT OF AUDITS AND ACCOUNTS \n254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 \nNovember 6, 2002 \n \nHonorable Roy E. Barnes, Governor Members of the General Assembly of Georgia Members of the Georgia Regional Transportation Authority \nand Honorable Catherine L. Ross, Executive Director \nREPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS \nLadies and Gentlemen: \nWe have audited the financial statements of the Georgia Regional Transportation Authority, a component unit of the State of Georgia, as ofand for the year ended June 30, 2002, and have issued our report thereon dated November 6, 2002. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. \nCompliance As part of obtaining reasonable assurance about whether the Georgia Regional Transportation Authority's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. \nInternal Control Over Financial Reporting In planning and performing our audit, we considered the Georgia Regional Transportation Authority's internal control over financial reporting in order to determine our auditing procedures for the purpose ofexpressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be material \n \n- 77- \n \n weaknesses. A material weakness is a condition in which the design or operation ofone or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in. the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. \nThis report is intended solely for the information and use of the audit committee, management, members of the Authority, management of the State of Georgia, and federal and state awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. \n----Respectfully submitted, \n \nRWH:rgs \n \nRu ell W. Hinton, CPA, CGFM Sta e Auditor \n \n- 78- \n \n "}],"pages":{"current_page":1,"next_page":null,"prev_page":null,"total_pages":1,"limit_value":10,"offset_value":0,"total_count":2,"first_page?":true,"last_page?":true},"facets":[{"name":"type_facet","items":[{"value":"Text","hits":2}],"options":{"sort":"count","limit":16,"offset":0,"prefix":null}},{"name":"creator_facet","items":[{"value":"Georgia. 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