Dustin Purinton, CPA, Accounting Manager
Sacramento Transportation Authority
Sacramento Transportation Authority
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(Chicago, Illinois)—Government Finance Officers Association is pleased to announce that Sacramento Transportation Authority, California received GFOA's Distinguished Budget Presentation Award for its budget.
The award represents a significant achievement by the entity. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive the budget award, the entity had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity's budget serves as:
Budget documents must be rated "proficient" in all four categories, and in the fourteen mandatory criteria within those categories, to receive the award.
There are over 1,700 participants in the Budget Awards Program. The most recent Budget Award recipients, along with their corresponding budget documents, are posted quarterly on GFOA's website. Award recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America.
Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 22,500 members and the communities they serve.
For more information, contact:
Technical Services Center
Phone: (312) 977-9700
Email:
budgetaward@gfoa.org
(SACRAMENTO, CA, February 21, 2024) – The Sacramento Transportation Authority (STA) is thrilled to announce the launch of its investor relations website in collaboration with BondLink.
The newly unveiled platform, SACTA-Investor-Relations.com, marks a significant step forward for STA in enhancing communication with the investment community and the broader municipal market.
This comprehensive platform provides easy access to well-organized financial documents, detailed project updates, ratings reports, recent news, and additional information about the Authority's impactful initiatives.
Dustin Purinton, STA’s Accounting Manager, expressed his optimism about the partnership. “We’re working towards improving and expanding information available to our investors to build our relationships. The individuals and firms who accelerate our capital improvement program deserve this level of transparency. We’re excited to continue building on this foundation with BondLink to establish even more trust in our market.”
STA now joins a growing list of prominent issuers utilizing investor relations platforms to differentiate their capital programs. Other notable entities who’ve implemented similar initiatives include the Los Angeles County Metropolitan Transportation Authority, Orange County Transportation Authority, and County of Sacramento.
“Sacramento Transportation Authority is serving as a great model for similar issuers across the country,” said Colin MacNaught, CEO and Co-Founder of BondLink. “We always enjoy supporting such forward-thinking organizations, and we believe their current approach will continue to benefit the communities they care about serving.”
Market participants are invited to explore the newly launched website and sign up for future alerts from the Sacramento Transportation Authority at SACTA-Investor-Relations.com.
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About Sacramento Transportation Authority
Sacramento Transportation Authority (STA) is a county-wide transportation agency, governed by a 16-member Board of Directors. STA was created in 1988 when Sacramento County voters approved Measure A, the half-cent sales tax for transportation improvements in Sacramento County. The original 20-year measure (Original Measure A) was approved in 1988 and began in April 1989. In 2004, voters approved a 30-year extension of Original Measure A beginning in April 2009 (Measure A). All sales tax revenue is restricted for public roadway improvements and maintenance, procuring open space mitigation, public transit, air quality, and elderly and handicapped transportation programs, with a 0.75% allocation for program administration costs.
About BondLink
BondLink, a cloud-based investor relations and debt management platform for the municipal bond market, helps issuers engage more bond investors through transparency and actionable insights. Founded by CEO Colin MacNaught, who spent seven years issuing nearly $25 billion in bonds on behalf of the Commonwealth of Massachusetts, and CTO Carl Query, BondLink went live in 2016. BondLink clients issued more than $50 billion in bonds in 2023. BondLink provides its issuer clients with tools to manage their capital financing programs more efficiently while providing investors with the interim financial reports and data they need to close information gaps and make informed decisions through a single platform. The company is backed by top investors within the municipal bond market, including Intercontinental Exchange and Franklin Templeton. Headquartered in Boston, BondLink was recently named to the 2024 GovTech 100, marking its sixth consecutive appearance on the annual list.
BondLink Contact Information:
Colin Jacob
Director of Marketing
cjacob@bondlink.com
(Chicago, Illinois)—Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to Sacramento Transportation Authority for its annual comprehensive financial report for the fiscal year ended June 30, 2022. The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and
financial reporting, and its attainment represents a significant accomplishment by a government and its
management.
Fitch Ratings - Austin - 14 Jun 2023: Fitch Ratings has assigned a 'AAA' rating to $306.1 million sales tax revenue refunding bonds (limited tax bonds) series 2023 to be issued by the Sacramento Transportation Authority, CA (STA or the authority).
The Rating Outlook is Stable.
Bond proceeds will be used to refund the authority's outstanding series 2009C, 2014A, and 2015A sales tax revenue bonds and terminate all or a portion of the swaps associated with the bonds for net present value (NPV) savings
Fitch has also affirmed the following outstanding STA debt at 'AAA':
--Sales tax revenue bonds (limited tax bonds), series 2014A (to be refunded);
--Sales tax revenue bonds (limited tax bonds), series 2015A (to be refunded);
--2022 sales tax revenue bonds.
ENGLEWOOD (S&P Global Ratings) June 13, 2023--S&P Global Ratings assigned its 'AAA' long-term rating to the Sacramento Transportation Authority (STA), Calif.'s proposed $301.6 million Measure A sales tax revenue refunding bonds, series 2023.
At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the authority's Measure A sales tax revenue bonds outstanding, including the 'AAA' long-term component of its dual rating on the authority's series 2015A and 2014A Measure A sales tax revenue bonds (AAA/A-1), reflecting the authority's priority lien pledge and a standby letter of credit provided by Sumitomo Mitsui Banking Corp., and on the authority's series 2009C Measure A sales tax revenue bonds (AAA/A-1), reflecting the authority's priority lien pledge and a standby bond purchase agreement provided by U.S. Bank National Assn.
The outlook is stable.
Bond proceeds will be used to refund the $318.3 million in series 2009C, 2014A, and 2015A variable-rate bonds outstanding, terminate the interest rate swaps relating to the bonds, and pay cost of issuance.
"The rating reflects our view of such factors as STA's very strong economic fundamentals, extraordinarily strong maximum annual debt service coverage, and general creditworthiness," said S&P Global Ratings credit analyst Kayla Smith.
The stable outlook reflects our expectation that coverage will remain what we consider extraordinarily strong given strong sales tax revenue growth and a lack of additional debt plans.
CENTENNIAL (S&P Global Ratings) Aug. 5, 2022--S&P Global Ratings raised its long-term rating to 'AAA' from 'AA+' on the Sacramento Transportation Authority (STA), Calif.'s Measure A sales tax revenue bonds outstanding. At the same time, S&P Global Ratings raised the long-term component of its dual rating to 'AAA' from 'AA+' on the authority's series 2015A and 2014A Measure A sales tax revenue bonds (AAA/A-1), reflecting the authority's priority lien pledge and a standby letter of credit provided by Sumitomo Mitsui Banking Corp., and on the authority's series 2009C Measure A sales tax revenue bonds (AAA/A-1+), reflecting the authority's priority lien pledge and a standby bond purchase agreement provided by U.S. Bank National Assn. Finally, we assigned our 'AAA' long-term rating to the authority's proposed $23 million Measure A sales tax revenue refunding bonds, series 2022. The outlook is stable.
"The rating action reflects our expectation that STA will maintain extraordinarily strong maximum annual debt service coverage at more than 4x given the lack of additional debt plans, sales tax revenue growth, and the voter-approved expenditure plan ordinance that limits debt service." said S&P Global Ratings credit analyst Kayla Smith.
Bond proceeds will be used to refund the $30.4 million series 2012A bonds outstanding for an estimated net present value savings of $1.5 million.
The stable outlook reflects our expectation that coverage will remain what we consider extraordinarily strong (at more than 4x) given strong sales tax revenue growth and a lack of additional debt plans.
We view physical risks as moderately negative in our credit rating analysis given the authority's exposure to wildfire and seismic risks. We analyzed the authority's social and governance risks and determined that they are credit neutral.
Fitch Ratings - Austin - 05 Aug 2022: Fitch Ratings has assigned a 'AAA' rating to $23 million sales tax revenue refunding bonds (limited tax bonds), series 2022, to be issued by the Sacramento Transportation Authority, CA (STA or the authority).
In addition, Fitch has upgraded the bank bond ratings corresponding to the following sales tax bonds to 'AAA' from 'AA+':
--$106.1 million sales tax revenue bonds (limited tax bonds), Series 2014A;
--$106.1 million sales tax revenue bonds (limited tax bonds), Series 2015A.
The Rating Outlook is Stable.
Effective Monday, June 13, 2022, Kevin Bewsey, PE will be serving as the Sacramento Transportation Authority Executive Director.
Kevin Bewsey is a licensed civil engineer with two decades of engineering experience in transportation. He started his career at Sacramento County Department of Transportation in design and then spent the next 10 years at a national consulting firm. During his time as a consultant he worked on the design and management of transportation projects for cities and counties throughout northern and central California. He also helped agencies navigate and obtain Highway Bridge Program Funding and led an effort to allow California State Parks to be eligible for this same funding. In 2016, he rejoined the public sector eventually becoming the Capital Program Manager for the City of Elk Grove where he oversaw their $170 million five- year Capital Improvement Program. While at the City he created several partnerships with Caltrans, the City of Sacramento, and other agencies to obtain additional grant funding. He also oversaw several high profile projects funded with grants and bond funding such as the Old Town Plaza and Railroad Street Project. He has recently returned to Sacramento County where he was a Principal Civil Engineer over programming and alternative modes.
Kevin received his BSME from California State University, Sacramento and is a registered professional engineer in California. He lives in the Sacramento, California region with his wife and two children.
The Sacramento Transportation Authority (STA) STA is primarily responsible for administering the Measure A program. Measure A is a voter-approved 30-year sales tax program providing funding for local transportation services and capital projects. Budgeted revenue is approximately $150 million annually, most of which is passed through to local agencies. Policy direction is provided by a 16-member governing board of local elected officials.
This morning marked the celebration of the grand opening of the Blue Line to Cosumnes River College! The Sacramento Regional Transit is now able to reach those seeking transportation to and from Cosumnes River College. This great milestone was achieved ahead of schedule and approximately $10 million dollars under budget.
"We have been waiting years, for this day to arrive. This project is truly an accomplishment for higher education and public transit.” – Mike Wiley, General Manager and CEO of the Sacramento Regional Transit District.
Community members, students, various City Council Members, and many others joined in on this grand celebration as the Valley High marching band performed and cannons of confetti covered the sky. This was a joyous event to celebrate a project that had been a decade in the works.
The federal government granted 135 million dollars for the 4.5 mile extension of the light rail and the project itself was able to provide 1,700 jobs. The Blue Line marks a step forward in transforming Sacramento into a city with a fully integrated transportation system.
The light rail project does not stop with the Cosumnes River College extension. Wiley was excited to share that new projects are underway. A few of them include the Blue Line Phase 3, which will reach Elk Grove, and an extension of the light rail to the Sacramento International Airport.
Looking to ride the Blue Line train? Check out the schedule here.
Sacramento, CA. March 14, 2014 – The Sacramento County Department of Transportation is alerting motorists that there will be overnight ramp closures for the US-50 @ Watt Avenue Interchange Project tonight. Information about overnight ramp closures and detours is listed below:
Night of March 14: There will be closures of the following ramps between the hours of 11 p.m. and 6 a.m.:
Expect possible 5 to 10 minute delays during the detour period.
Overnight Project Work: Project work during this closure period includes installation of portable concrete barriers (K-rail) for worker protection.
Completed Project: The completed project will provide: a reduction in overall delay through the interchange; much easier and safer access on and off the freeway for all motorists; dedicated transit facilities; and, improved access and safety for bicyclists and pedestrians. It is anticipated that the project will be completed by mid-summer, 2014.
Patience is Appreciated: The patience and cooperation of the traveling public is appreciated as work to construct the interchange project continues.
Please contact Dan Regan, Communications & Media Officer, at 916-874-7056 (office) or 916-591-0047 (cell), or regand@saccounty.net if you have any additional questions.
The Sacramento County Department of Transportation (SACDOT) is making changes to the lanes and signal timing to improve traffic flow as construction moves forward on the Watt Avenue at US-50 interchange. This is an active construction zone with 90,000 cars per day driving through the site, and at times, construction activities will lead to traffic delays.
The recent reconfiguration of US-50 off-ramps and the installation of new traffic signals on Watt Avenue caused an increase in congestion throughout the interchange last Monday. To improve the flow of vehicles, additional lanes on Watt Avenue were opened up to traffic and timing adjustments were made to the traffic signals. These changes have improved traffic conditions such that the congestion and delay problems experienced on Monday have been solved and traffic conditions have returned to normal.
SACDOT staff is taking the following measures to improve the flow of traffic through the interchange:
Traffic Signal Timing: Each day since Monday (12-16-13), traffic signal adjustments have been made to the new Watt Avenue traffic signals to improve traffic flow. SACDOT will continue to closely monitor traffic flows and make additional adjustments as appropriate.
Additional Traffic Lanes: In early January, an additional traffic lane will be opened on northbound Watt Avenue and a third right turn lane will be opened on the westbound off-ramp. This additional capacity will also improve the flow of traffic through the interchange.
Motorists are advised to reduce speed and drive carefully through the interchange as construction activities, signal adjustments and lane openings continue.
It is important to note that the configuration of the interchange today is not the final result. Significant improvements have been implemented this week to reduce delays and SACDOT will continue to make further improvements in the next few weeks. In the coming months, the completed interchange project will result in a significant reduction in overall delay through the Watt Avenue corridor and much easier and safer access on and off the freeway for everyone.
Patience is Appreciated: SACDOT understands the challenges and inconvenience that motorists may experience during this project work. The patience and cooperation of the traveling public is appreciated as work to construct the interchange project continues.
Interchange Construction Goal: The Watt Avenue at US-50 interchange project will reduce congestion, install dedicated transit facilities, and improve access and safety for bicyclists and pedestrians.
The Central Galt Interchange project will be the largest and most expensive project in the city’s history.
The city will build a new overpass connecting A Street across Highway 99. Once that is complete, the city will demolish the current C Street overpass and build a new bridge. The project is scheduled to be completed in fall 2012 as long as there is not high rainfall, Public Works Director Gregg Halladay said.
The Galt City Council awarded the construction project to Teichert Construction for more than $4 million less than estimated costs. The city originally planned to spend $25.15 million on construction, but Teichert was the low bidder at $20.93 million.
The city will hold a public informational meeting at 6 p.m. Oct. 28 in the Galt Police Department community room to discuss the project. Residents will receive information on access to the Galt Market and downtown businesses, other detours and a timeline for work.
Replacing an existing freeway overcrossing, one of the oldest interchanges on SR 99, while accommodating local and freeway traffic throughout construction is no small feat. Yet that’s just what Nolte did. By widening the two-lane structure to accommodate eight lanes, the new Grant Line Road interchange yielded improved traffic circulation and motorist safety on the highway and along the arterial roads. The project also included six new on/off ramps, four new signalized intersections, and realignment of local roadways to accommodate the new interchange.
The project was named Interchange Project of the Year, by the California Transportation Foundation, earning a TRANNY Award in recognition of excellence in transportation.
