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Final Design |
Medium |
FTA considers the applicant to be in reasonably sound financial condition based upon the reviews outlined in FTA's Financial Capacity Circular. |
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The applicant has committed or dedicated sufficient funds to cover the entire non-Federal share of the overall undertaking, including provision for contingent cost overruns. |
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Low |
FTA does not consider the applicant to be in reasonably sound financial condition. |
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The applicant has not yet committed or dedicated sufficient funds to cover the entire non-Federal share of the overall undertaking, including provision forcontingent cost overruns. For example, an "unacceptable" rating would be given where significant events such as the renewal of expiring authorizing legislation, satisfactory resolution of conditions imposed by funding entities the passage of new legislation, or a referendum still must occur to put adequatelocal funding in place. |
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Preliminary Enineering |
High |
FTA considers the applicant to be in sound financial condition based upon the reviews outlined in FTA's Financial Capacity Circular. |
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The applicant has committed or dedicated sufficient funds to cover all or nearly all of the non-Federal share of the overall undertaking, including provision for contingent cost overruns. |
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Medium |
FTA considers the applicant to be in reasonably sound financial condition based upon the reviews outlined in FTA's Financial Capacity Circular. |
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The applicant has adopted a realistic capital finance plan that adequately covers projected non-Federal capital costs. The plan may be vulnerable to economic downturns and other funding uncertainties, but these vulnerabilities can probably be managed without significant disruptions to capital programs and/or operations. |
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Low |
FTA does not consider the applicant to be in reasonably sound financial condition based upon the reviews outlined in FTA's Financial Capacity Circular. |
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The applicant has not adopted a capital finance plan, or FTA considers the adopted finance plan to be inadequate or infeasible. The plan may be so vulnerable to economic downturns and other funding uncertainties that implementation of the project would put capital programs and operations at significant risk. |
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System Planning and Other |
High |
FTA considers the implementing agency to be in reasonably sound financial and Other condition based upon the reviews outlined in FTA's Financial Capacity Circular. |
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The applicant has adopted a realistic capital finance plan that adequately covers projected non-Federal capital costs. The plan is based on reasonably conservative assumptions and provides for contingent cost overruns. |
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Medium |
FTA considers the implementing agency to be in reasonably sound financial condition based upon the reviews outlined in FTA's Financial Capacity Circular. |
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The applicant's capital finance plan or preliminary funding stragey is considered by FTA to be adequate to successfully undertake one or more of the proposed major transit investment alternatives. Uncertainties may exist in the agency's ability to implement new funding sources as well as cash flow implications and the plan's sensitivity to risk and uncertainty. |
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Low |
FTA does not consider the proposed implementing agency to be in reasonably sound financial condition based upon the reviews outlined in FTA's Financial Capacity Circular. |
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The applicant's capital finance plan or preliminary funding strategy that would be adequate to sucessfully undertake a major investment alternative. If a plan or strategy exists, a "low" rating may also be given where the region has previously demostrated an unwillingness to adopt new transit funding sources with the capacity that would be required to implement a new start. |
