Regional Cost Model

Draft regional cost model concept
This MPO-funded project will upgrade the current, single-factor regional cost model to a multiple-factor model to better meet Federal Transit Administration (FTA) cost allocation guidelines. This effort will be an upgrade of the RCM model to enhance cost-allocation functionality, add functionality/ features to provide mechanism for costing of new service addition(s), add features to support scenario analysis re. service changes such as service reductions/expansions, and add functionality to support the annual Transit Development Plan (TDP) update and reporting process. The model may include options incorporating affects of the MMTF, provide a method for addition of new service regions, supporting National Transit Database (NTD) reporting, and forecasting during mid year. Deliverables include: 1) Upgraded RCM program/application incorporating multi-factor methodology with specified functionality that meets FTA cost allocation guidelines, 2)  Implementation plan that includes transition plan and model calibration, 3)  User Guide with technical specifications, 4) A final report and presentation would also be provided for both financial and other staff/leadership that would include recommendations for future improvements. A draft scope of work was developed 5/17/13, and a 10/28/13 internal meeting was postponed. The proposed timeline was Feb. 2014 - June 2014. Goal is for 2/14/14 RFP. Note that foundational work on the RCM has been in progress since at least 2009 when the Town worked extensively with a financial consultant on a regional financial model for transit services. Further documentation of the need for an updated RCM exists in the June 2011 TDP, "BT's current regional cost model . . . lacks the precision required..." The 2012-13 Unified Planning Work Program (UPWP) for the NRVMPO adopted May 3, 2012 also documented that BT proposed the RCM effort with MPO funding support. Update 6/26/14: Plan is to edit the RFP, and release it during July 2014. As part of Route Analysis effort, consultant shared a 3-variable cost model template. A revised timeline is recommended (as of April 2014 the tentative plan was to issue RFP by May 15, 2014, launch the project June 2014, and complete by September 2014). The RCM RFP was issued July 31, 2014 with proposals due by August 27. No timeline was included in the RFP. For various reasons (perhaps, due in part to the fact that the BT director retired during this period), the project was delayed and progress was slow but steady. Foursquare Integrated Transportation was the selected consultant. After several internal meetings and exchanges, by May 2015 Finance was working closely with other town staff to review the current system relevant to a model. On June 23, 2016 Sandy Davis of Foursquare ITP facilitated an all-day (10 am - 5 pm) training for various staff at BT, with an overview of how the model can be used. Both budget and cost model tool demonstrations were provided. Further project updates will follow.
3-variable cost model

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