new text begin Subd. 6. new text end

new text begin Transportation financial review. new text end

new text begin (a) By April 1 annually, the council must
prepare and submit a financial review in consultation with the commissioner of management
and budget that details revenue and expenditures for the transportation components under
the council's budget. The council must submit the financial review to the chairs and ranking
minority members of the legislative committees and divisions with jurisdiction over
transportation policy and finance.
new text end

new text begin (b) At a minimum, the financial review must identify:
new text end

new text begin (1) the actual revenues, expenditures, transfers, reserves, and balances in each of the
previous four budget years;
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new text begin (2) budgeted and forecasted revenues, expenditures, transfers, reserves, and balances in
the current year and each budget year within the state forecast period;
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new text begin (3) for the most recent completed budget year, a comparison between the budgeted and
actual amounts under clause (1); and
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new text begin (4) for the most recent completed budget year, fund balances for each replacement service
provider under section 473.388.
new text end

new text begin (c) The information under paragraph (b), clauses (1) to (3), must include:
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new text begin (1) a breakout for each transportation funding source identified by the council;
new text end

new text begin (2) a breakout for each transportation operating budget category established by the
council, including but not limited to bus, light rail transit, commuter rail, planning, special
transportation service under section 473.386, and assistance to replacement service providers
under section 473.388; and
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new text begin (3) data for operations, capital maintenance, and transit capital.
new text end

new text begin (d) The financial review must summarize reserve policies, identify the methodology for
cost allocation, and describe revenue assumptions and variables affecting the assumptions.
new text end