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CFTE Glossary
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- F -
Face Amount
The par value (i.e., principal or maturity value) of a security.
FAR
See “Floor-area ratio.”
Fare
The required payment for a ride on a public transportation vehicle. It must be paid by an acceptable means, for example, using cash, token, ticket, transfer, farecard, voucher, pass or user's fee.
Fare box revenue per passenger
A financial performance indicator that is influenced by number of riders, fare structure, rider profile and transfer rate. For example, a low regular fare and a large number of riders eligible for discounted fares, coupled with a high transfer rate, would result in a low farebox revenue per passenger.
Fare box revenue per total expenses
A financial performance indicator of the users' share of the total cost of service. A higher number is more favorable. Factors that affect this indicator are the amount of the base fare, number of riders, number of passengers eligible for a discounted fare and ability to sell advertising.
Fare collecting
Another name for ticketing.
Fare elasticity
The extent to which ridership responds to fare increases or decreases.
Fare evasion
Unlawful use of transit facilities by riding without paying the applicable fare.
Fare structure
The system set up to determine how much is to be paid by various passengers using a transit vehicle at any given time.
Farebox revenue
Money, including fares and transfer, zone and park and ride receipts, paid by transit passengers; also known as "passenger revenue.”
Fare-recovery ratio
(Or "fare box recovery ratio") Measure of the proportion of operating expenses covered by passenger fares; found by dividing fare box revenue by total operating expenses for each mode and/or systemwide.
Fast-fill
Refers to how quickly a vehicle can be refueled, generally three to four minutes for a car, seven to 10 minutes for a bus. A fast fill typically is metered for fuel resale or fleet accounting and requires adequate fuel storage volumes.
Federal Highway Administration (FHWA)
A component of the U.S. Department of Transportation, provides funding to state and local governments for highway construction and improvements, including funds must be used for transit. FHWA also regulates the safety of commercial motor vehicle operations (vehicles which require a CDL to drive). FWHA is the lead agency in federal intelligent transportation activities and regulated interstate transportation.
Federal Register
Daily publication which provides a uniform system for making regulations and legal notices issued by the Executive branch and various departments of the federal government available to the public.
Federal Transit Administration (FTA)
Formerly known as the Urban Mass Transportation Administration (UMTA); FTA is the agency of the U.S. Department of Transportation which administers the federal program of financial assistance to public transit.
Feeder bus
A bus service that picks up and delivers passengers to a rail rapid transit station or express-bus stop or terminal.
Feeder service
Bus service providing primary connections with other bus or rail transit services.
Ferryboat
A boat providing fixed-route service across a body of water.
FFV
Flexible fuel vehicle
Financing account
A non-budget account associated with each credit program account. The financing account holds fund balances, receives the subsidy cost payment from the credit program account, and includes all other cash flows to and from the government resulting from post-1991 direct loans or loan guarantees. (OMB Circular No. A-11, and OMB Circular No. A-34, "Instructions on Budget Execution," Part VI, "Credit Apportionment and Budget Execution," hereafter cited as OMB Circular No. A-34.)
Fiscal year
For the federal government, denotes the yearly federal accounting period beginning October 1 and ending September 30 of the subsequent calendar year. However, prior to FY 77, the federal fiscal year started on July 1 and ended the following June 30.
Fixed cost
An indirect cost that remains relatively constant, irrespective of the level of operational activity.
Fixed guideway
An exclusive travelway used by a particular mode of public transportation.
Fixed operating cost
Expenditures that are independent of the amount of vehicle or equipment usage, such as insurance costs, licensing and registration fees, depreciation and finance charges.
Fixed route
Service provided on a repetitive, fixed-schedule basis along a specific route with vehicles stopping to pick up and deliver passengers to specific locations; each fixed-route trip serves the same origins and destinations, unlike demand-response and taxicab services.
Fixed-guideway system
A system of vehicles that can operate only on its own guideway constructed for that purpose (e.g., rapid rail, light rail). Federal usage in funding legislation also includes exclusive right-of-way bus operations, trolley coaches and ferryboats as "fixed guideway" transit.
Fixed-route system
A system of designated public transportation services for which a vehicle is operated along a prescribed route according to a fixed schedule.
Flag stop
Intercity or commuter rail transportation stops that are not stations with regularly scheduled stops but at which trains will stop to board or detrain passengers only by advanced signal or notice.
Fleet
The vehicles in a transit system. Usually "fleet" refers to highway vehicles and "rolling stock" refers to rail vehicles.
Flexible funds
Federal funds which can be used for highway, transit or other transportation projects, as decided by regional metropolitan planning organizations (MPOs) and state governments. Examples of flexible funds include the Surface Transportation Program (STP) and the Congestion Mitigation and Air Quality (CMAQ) fund.
Floating Zone
A floating zone is a zoning district that is defined in an ordinance, but not used for a particular location until enacted for a specific project. Floating zones are used to anticipate certain types of uses for which locations will not be designated on the zoning map until developers apply for zoning.
Floating Zone
A floating zone is a zoning district that is defined in an ordinance, but not used for a particular location until enacted for a specific project. Floating zones are used to anticipate certain types of uses for which locations will not be designated on the zoning map until developers apply for zoning.
Floor Area Ratio (FAR)
Abbreviated as FAR, this is a measure of development intensity. FAR is the ratio of the amount of floor area of a building to the amount of area of its site. For instance, a one-story building that covers an entire lot has an FAR of 1. Similarly, a one-story building that covers 1/2 of a lot has an FAR of 0.5.
FMS
Fleet management system
Focal point
In land-use and transit planning, an object such as a statue, fountain, architectural element or building to which the eye is drawn. A unique planting element or tree also may create a focal point.
Focused Public Investment Plan (FPIP)
A plan that focuses public investments in specific areas and requires developers to provide services outside the investment area.
Forbearance
The act of a creditor who refrains from enforcing a debt when it falls due. Various government credit programs, under specific conditions, offer borrowers certain protections against foreclosure.
Force Majeure
Events that are beyond the control of a contractor, such as earthquakes, epidemics, blockades, wars, acts of sabotage, and archeological site discoveries.
Forgive
To grant relief from all or part of a debt under statutory authority. When an agency forgives a debt, or some portion thereof, it is deciding that the amount being waived is not now part of the government's claim.
For-hire
Refers to a vehicle operated on behalf of or by a company that provides transportation services to its customer(s).
Formula funds
Funds distributed or apportioned to qualifying recipients on the basis of formulas described in law; e.g., funds in the Section 18 program for Small Urban and Rural Transit Assistance, which are distributed to each state based on the state's percentage of national rural population.
Fossil fuel
Any naturally occurring organic fuel, such as petroleum, coal and natural gas. (DOE)
Fringe parking
An area for parking usually located outside the central business district and most often used by suburban residents who work or shop downtown.
FTA
See: “Federal Transit Administration”
Fuel cell
A device that produces electrical energy directly from the controlled electromechanical oxidation of fuel. It does not contain an intermediate heat cycle, as do most other electrical generation techniques.
FY
See: “Fiscal year”
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