Finance

The Alameda Corridor Transportation Authority (ACTA) is a Joint Powers Authority created by the Cities of Los Angeles and Long Beach.  ACTA operates on revenues without taxpayer support.  Its revenues are generated from user fees and container charges from rail cargo using the Alameda Corridor, and on a limited contingency basis by shortfall advances from the Port of Los of Los Angeles and Port of Long Beach (Ports).

ACTA’s financial affairs are overseen and managed by its Chief Financial Officer and the ACTA Finance Team. Primary responsibilities include overall planning, managing and reporting of financial transactions, including: the performance of general accounting activities; development and implementation of the annual budget; issuance of annual financial statements, audits and bond disclosures; and performing financial analysis, strategy and performance measurement.

The Finance Team is also responsible for the issuance and management of ACTA’s bond indebtedness.  ACTA’s debt has always carried strong, investment grade credit ratings based on the unique limited financial backing of the Ports.[1]Should ACTA revenues, as generated by user fees and container charges, be insufficient to meet debt service on a year-by-year basis, the Ports are contractually bound to ACTA to make up the … Continue reading The most recent credit ratings for ACTA and the two Ports are as follows:

References
1 Should ACTA revenues, as generated by user fees and container charges, be insufficient to meet debt service on a year-by-year basis, the Ports are contractually bound to ACTA to make up the difference via “shortfall advances” up to 40% of ACTA’s annual debt service.