FY2021 Proposed Budget: (Actual Budget approval will take place during the Finance, Budget and Audit Committee meeting immediately following the hearing.) SUBJECT: FISCAL YEAR 2021 (FY21) BUDGET CONSIDER: A. ADOPTING the proposed FY21 Budget as presented in the budget document (provided in a separate transmittal and posted on metro.net); 1. AUTHORIZING $6.0 billion annual consolidated expenditures to achieve goals and objectives set forth by the Board adopted Metro Vision 2028 strategic plan; and 2. AUTHORIZING a total of 10,219 FTEs with 8,482 Represented FTEs and 1,737 Non-Represented FTEs which did not change from FY20 authorized levels; and 3. AUTHORIZING a 3.5% merit-based increase deferred for at least 3 months (2.6% annualized average) per CEO discretion for Non-Represented employees except for the CEO; and 4. APPROVING the Life of Project (LOP) budgets for new capital projects with LOP exceeding $5.0 million presented in Attachment A; and 5. AMENDING the proposed budget to include $165.2 million for Gold Line Foothill Extension 2B for a total of $265.2 million, finalized after budget closed; and B. APPROVING the Reimbursement Resolution declaring Metro's intention to issue debt in FY21 for capital projects, as shown in Attachment B, with the provision that actual debt issuance will require separate Board approval.