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SF2886 (Legislative Session 94 (2025-2026))

Metropolitan Council transportation services financial reporting requirements consolidation and modification

Related bill: HF2204

AI Generated Summary

Purpose of the Bill

The bill aims to consolidate and modify financial reporting requirements for transportation services managed by the Metropolitan Council in Minnesota. This is intended to enhance transparency and accountability in financial planning and reporting for transit programs and services.

Main Provisions

  • Budget Adoption: By December 20 each year, the Metropolitan Council must adopt a detailed budget for anticipated receipts and disbursements, including proposed ad valorem tax levies.
  • Financial Plan: Every two years, a financial plan for the next three years must be prepared for transit programs, outlining user charges and any planned changes.
  • Annual Financial Review: By January 15, a financial review detailing revenues and expenditures for transportation must be submitted. This will include actual and budgeted figures for revenue, expenditures, transfers, reserves, and balances. Additionally, a financial review update is due by August 15.
  • Detailed Information Requirements: The financial reviews must break down transportation funding sources (such as legislative appropriations, federal funds, and sales taxes) and operating budget categories (such as bus, light rail, and commuter rail).
  • Methodology and Policies: The reviews need to provide methodologies for cost allocation, revenue assumptions, reserve policies, and conversion between fiscal and budget years.

Significant Changes to Existing Law

  • The bill amends existing sections of the Minnesota Statutes to require more detailed and periodic financial reporting from the Metropolitan Council.
  • It repeals a section of the statute related to financial reporting, simplifying and focusing the requirements specified public transportation services.

Relevant Terms

  • Metropolitan Council
  • Financial reporting
  • Transportation services
  • Transit programs
  • Ad valorem tax levies
  • Financial plan
  • Revenue and expenditures
  • Legislative appropriations
  • Sales tax
  • Bus, light rail, commuter rail

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 23, 2025SenateFloorActionIntroduction and first reading
March 23, 2025SenateFloorActionReferred toTransportation

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill modifies the budgeting process for the Metropolitan Council under section 473.13.",
      "modified": [
        "New detailed budgeting requirements, including capital expenditures and ad valorem tax levies."
      ]
    },
    "citation": "473.13",
    "subdivision": "subdivision 1"
  },
  {
    "analysis": {
      "added": [
        "Annual financial review submission requirements, including detailed revenue and expenditure reports."
      ],
      "removed": [],
      "summary": "This legislation consolidates financial reporting requirements for the transportation services of the Metropolitan Council under section 473.13.",
      "modified": [
        "Updates to the timeline and content of financial review submissions to legislators."
      ]
    },
    "citation": "473.13",
    "subdivision": "subdivision 6"
  },
  {
    "analysis": {
      "added": [
        "Inclusion of special transportation service financials in the financial review."
      ],
      "removed": [],
      "summary": "The bill amends financial reporting related to special transportation services under section 473.386.",
      "modified": []
    },
    "citation": "473.386",
    "subdivision": "subdivision 10"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Modification of financial requirements for transportation and transit operations under section 473.412.",
      "modified": [
        "Requirements for capital maintenance and transit capital data in financial reviews."
      ]
    },
    "citation": "473.412",
    "subdivision": "subdivision 3"
  }
]

Sponsors