TFLEx Forum Call – Property and Liability Insurance – April 25, 2024, 3:00 CST

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Renewal challenges in an increasingly difficult and expensive market

Transit agencies purchase property insurance on their large investment in fleet and infrastructure to provide financial reimbursement for damage and theft, and liability insurance that provides protection against claims resulting from injuries and damage to people and property from their numerous vehicles in operation daily.  The market for property insurance has become increasingly difficult driven by rising inflation and interest rates, and natural catastrophe losses, as well as for liability insurance stemming from increased litigation, escalating medical expenses and rising verdicts.

Join us for a transit-agency-only discussion on the role of the finance officer in assessing renewal options and providing the financial support and budget.

Participants will:

  • Learn the challenges agencies are facing, such as:
    • Cost of insurance premiums
    • Reduced number of firms bidding.
    • Separate coverage for specific events (e.g., cybercrime) or high dollar claims.
  • Examine agency strategies regarding property insurance, including self-insurance exposure and pooling with other governments.
  • Explore agency liability insurance cost saving actions involving reducing coverage and improving claims experience.
  • Hear market assessment of the impact of emerging use of AI (artificial intelligence).
  • Understand the short-term and long-term approach of sister agencies encompassing multi-year renewal periods, coverage bundling, and funding plans.

TFLEx members may join this call free of charge.  In the Zoom app enter the meeting ID and passcode provided on the emailed invite.  For more information contact Joe Costello, TFLEx Executive Director, at (708) 606-0811, costelloconsultingcorporation@gmail.com.

Participants will earn 1.0 CPE credit.

Field of Study: Finance

Additional Information
Prerequisites: None
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based

The Transit Finance Learning Exchange (2300 Downing Avenue, Westchester, IL) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#108644) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.NASBARegistry.org.

TFLEx Treasury SIG Call – First / Last Mile connections – February 8, 2024, 3:00 CST

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Finance role & challenges associated with third-party arrangements

The “First and Last Mile” is the distance a transit rider needs to travel from a transit (bus or rail) stop to their destination, and vice versa.  This presents a challenge when the stop is far from where the rider is going.  Recently, it has become more of a problem as agencies look to eliminate stops to speed up service and shorten travel times. This has increased the use of third-party rideshare and micro-transit service providers for first / last mile distances.

Join us for a transit-agency-only discussion on the role of the finance officer role and financial challenges associated with these third-party arrangements.

Participants will:

  • Learn the first / mile problems faced by other transit agencies as well as the impact of recent initiatives to eliminate stops to speed up service and shorten travel times.
  • Understand what agencies are doing to provide first / last mile service.
  • Hear the challenges and solutions relating to:
    • Pricing the rider’s journey;
    • Collecting revenue as well as revenue distribution between the parties providing service; and
    • Passenger counting, and other data collection, for NTD and agency metrics.
  • Explore the impact on federal requirements and grant opportunities.
  • Examine the approach of sister agencies to develop sustainable financial strategies.

TFLEx members may join this call free of charge.  In the Zoom app enter the meeting ID and passcode provided in the emailed message and invite. For more information contact Joe Costello, Costello Consulting, (708) 606-0811, costelloconsultingcorporation@gmail.com.

Participants will earn 1.0 CPE credit.

Additional Information
Field of Study: Finance
Prerequisites:  None
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based

The Transit Finance Learning Exchange (2300 Downing Avenue, Westchester, IL) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#108644) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.NASBARegistry.org

TFLEx Workshop – Spring 2024 – Houston, Texas – April 8-9, 2024

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“Mission Control”
Refocusing Agency Resources in a post-COVID world

Transit finance officers from across the nation will gather in Houston to understand the financial challenges of “Mission Control” in the post-pandemic transit environment. The current landscape reflects changes to the level and nature of service provision, innovations to encourage demand for transit, and increasingly costly capital investment – all within the context of an expanded view of the mission of public transportation. This Transit Finance Learning Exchange workshop will center on the budget impact and budget trade-offs of mission refocusing in a post-pandemic world.

Workshop objectives – After attending this conference, participants will be able to:

  • Develop a realistic and comprehensive assessment of the changed transit industry mission, considering aspects ranging from transit-oriented development to homeless outreach.
  • Assess the budget impact of changes in the agency services operated, and agency capacity to sustain pre-pandemic service levels.
  • Inventory expanded reduced-fare and free-fare programs, as well as innovations to improve service quality and effectiveness to increase transit usage and understand the financial impact of these initiatives in light of lower ridership.
  • Explore capital cost drivers and sister agencies’ budget balancing efforts to maintain state-of-good-repair, support service expansion, and meet other requirements such as decarbonization.
  • Synthesize workshop information to develop financial strategies to advance and support agency near-term and longer-term plans. Evaluate the impact on agency ability to meet its more typical goals.
  • Identify and share best practices through structured, participative, conversation sessions with other transit agencies.

Group-Live Delivery Method
Program Level: Advanced
No Pre-Conference Reading Material Provided
No Prerequisites*
Earn 14 CPE credits

*This program is at an advanced level of continuing education.  Although no prerequisite course or work experience is needed to participate in this program, working knowledge of finance and transportation practices and policies, and knowledge of the program topic, is required.

NOTE: The workshop is open to TFLEx member agencies only, and their guests. If you are a transit agency and wish to attend as a guest, please contact smurdock@octa.net

To register visit https://tflexspring2024.eventbrite.com. For information regarding refund, complaint and cancellation policies, contact Joe Costello, Costello Consulting, 708-606-0811 costelloconsultingcorporation@gmail.com.

Transit Finance Learning Exchange is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Recommended Hotel

Moxy Houston Downtown, 412 Main Street, Houston 855-487-6699

Website

TFLEx Forum Call – Decarbonization – Financial impact of efforts to reduce emissions – January 11, 2024, 3:00 CST

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Public transportation has always provided a beneficial impact to air quality.  Transit agencies have been taking this to the next level by reducing their carbon footprint.   One of the more visible initiatives is the conversion of agency fleets to zero emission vehicles.  This impacts vehicle cost and range, as well as fleet size and supporting infrastructure.

Join us for a transit-agency-only discussion on the role of the finance officer in developing an operating and capital investment budget that supports agency decarbonization initiatives. Participants will:

  • Learn the drivers of decarbonization initiatives, including responding to state laws, public pressure, and Board goals.
  • Understand the fleet-related financial impact from:
    • Increased vehicle costs – upfront and life cycle.
    • Vehicle range issues resulting in increased fleet size – mitigated by reduced fixed route service and increased micro transit.
  • Examine the infrastructure requirements – considering energy provider challenges and escalating capital costs while maintaining a state of good repair.
  • Explore federal grant opportunities accessed by the transit industry.
  • Hear the short-term and long-term approach of sister agencies to develop sustainable overall strategies that support agency decarbonization initiatives.

TFLEx members may join this call free of charge.  In the Zoom app enter the meeting ID and passcode distributed via email to the membership.  For more information contact Joe Costello, Costello Consulting, (708) 606-0811, costelloconsultingcorporation@gmail.com.

Participants will earn 1.0 CPE credit.

Field of Study: Finance

Additional Information
Prerequisites: None
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based

The Transit Finance Learning Exchange (2300 Downing Avenue, Westchester, IL) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#108644) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.NASBARegistry.org.

Save these dates for upcoming TFLEx events

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Continuing Education Credits:  1 hour for Forum & SIG Calls – 14 hours for workshops

December 14, 2023, 3:00 CSTTFLEx Accounting SIG Call – Software Hacks and Horrors! – Finance software success and challenges.
January 11, 2024, 3:00 CST                       Forum Call (via Zoom) Decarbonization – financial impact of efforts to reduce emissions including vehicle cost, range issues, fleet size
February 8 3:00 CSTTreasury SIG Call (via Zoom)  First / Last Mile connections.  Finance role & challenges associated with these third-party arrangements
March 7 3:00 CSTForum Call (via Zoom) Artificial intelligence (AI) usage & potential in financial management, as well as agency financial impact
April 8-9 Metro Houston, TXSpring Workshop Mission Control – Refocusing Agency Resources in a Post-COVID World.
April 25 3:00 CST Forum Call (via Zoom) Agency strategy for, and use of, federal section 5307 funds for capital cost of contracting
June 13 3:00 CSTAccounting SIG Call (via Zoom) Update on the implementation of GASB 87, 94 & 96 on leases, PPPs, APAs, & SBITAs
July 11 3:00 CSTForum Call (via Zoom) Budgeting for surging healthcare benefit costs – impact of new technologies, COVID strains, & high inflation
August 8 3:00 CSTTreasury SIG Call (via Zoom) Payment systems.  Changes to fare-capping and fare structure to respond to post-pandemic travel patterns.
September 5 3:00 CSTForum Call (via Zoom) Current agency technology, construction, and business improvement projects
October 3 3:00 CSTForum Call (via Zoom) Fiscal Cliffs – Where are we now?  Update on rising costs, falling revenues, & relief funds depletion
October 28-29 DART Dallas, TXFall Workshop BIG – Financial impact of big events.  Measuring and maximizing the short-term and long-term positives.
December 12 3:00 CSTAccounting SIG Call (via Zoom)  Accounting versus federal regulations regarding funding programs and NTD reporting – financial impact  
updated 12/3/2023

TFLEx Accounting SIG Call – Software Hacks and Horrors! Finance software successes & challenges – December 14, 2023 – 3:00 p.m. CST

Posted on by themousepadtexas

Join us for a transit-agency-only discussion on Finance experiences with software implementation.

Finance is called upon to play a critical role in all aspects of employing technology to improve system processes, from software selection to data gathering to integration with other systems. This involvement can range from enterprise-wide software, such as a transit asset management system, to more narrowly focused software, such as for new accounting standards implementation. This TFLEx call discussion will focus on successes encountered by your sister agencies, and as well as unexpected obstacles that resulted in falling short of expectations – with a view to repeating the successes and avoiding the pitfalls.

On this TFLEx special interest group (SIG) call, participants will learn agencies’ “hacks and horrors” regarding the following objectives:

  • Choosing the appropriate software: Excel versus everybody else.
  • Avoiding garbage-in, garbage-out (GIGO): Finding the needed data, testing it, and converting it for input.
  • Seamless integration into other systems – often costly and overlooked.
  • Containing costs (& scope!)
  • Devoting sufficient implementation and technical support.

TFLEx members may join this call free of charge. In the Zoom app enter the meeting ID and passcode distributed via email to the membership. For more information contact Joe Costello, Costello Consulting, (708) 606-0811, costelloconsultingcorporation@gmail.com.

Participants will earn 1.0 CPE credit.

Field of Study: Finance

Additional Information
Prerequisites: None
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based

The Transit Finance Learning Exchange (2300 Downing Avenue, Westchester, IL) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors (sponsor #108644). State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.NASBARegistry.org.