Resolution 14-07-37
Board Memorandum
Attachment A
Purpose of TriMet’s Strategic Financial Plan
Strategic financial planning sets the course to grow transit and
ensure a healthy, sustainable future
TriMet bus, light rail, commuter rail, streetcar and Lift service offers flexible and affordable
service for people in the Portland region to get from their homes to jobs, shops, schools and
recreation.
Our region believes successful transit is critical to sustain our diverse, innovative and growing
economy. TriMet, along with the citizens of our region and their leaders, hope to triple the
share of trips taken on transit, walking or by bicycle by 2035. We want to bring 50 percent more
destinations within reach of transit and other driving alternatives. We’re building our transit
system to serve the needs of all our people and our businesses equitably.
TriMet faces financial challenges that could impede our ability to meet present and future
expectations for transit service. A Strategic Financial Plan (SFP) can explain the challenges and
outline the financial and operational policies that can guide TriMet forward.
By developing and implementing financial and operational policies by means of a Strategic
Financial Plan, we can navigate near-term challenges and achieve a sustainable future. Using
the Guidelines we not only provide a clear context for making financial and operational
decisions, but set a path to maintain and grow service. The ultimate outcome results in building
customer and public trust in the sustainability and predictability of TriMet’s financial future.
Strategic financial plan highlights fiscal best practices and sound
financial policies
In 2013, a subcommittee of TriMet’s Finance and Audit Committee began working with staff to
develop the foundation of a Strategic Financial Plan. Included in this process were
conversations with stakeholders and an opportunity for the general public to share their
thoughts online. In January 2014, the Secretary of State’s Audit of TriMet also referenced the
importance of TriMet’s work on this plan.