encyclopedia

FORECAST YEAR

In planning, the terminal year for a projection. Usually designates the year in the future for which the improvement embraced in the (transportation) plan are to be designed. (TRB)

FORECASTING

In planning, the process of determining the future conditions, magnitudes, and patterns within the urban area, such as future population, demographic characteristics, travel demand. (TRB)

FOREIGN

Not of the particular railroad company being referenced (e.g. on the Union Pacific, a Conrail car is a foreign car).

FOREIGN BUS (FB)

A bus assigned to one division which is temporarily located at another division. A bus temporarily operated in revenue service by a division before being returned to its own division.

FOREIGN LINE

When a bus operates in revenue service on another line, that line is termed a foreign line. Example: A line 33 bus works seven trips on line 33 then one trip on line 436. The line 436 trip is described…

FORMAL ADVERTISING (SEALED BIDDING)

The procurement process by which sealed bids are publicly solicited and a firm-fixed-price Contract (lump sum or unit price) is awarded to the Responsible Bidder whose Bid, conforming with all the material terms and conditions of the Bid Solicitation Package,…

FORMULA CAPITAL GRANTS

Federal transit funds for transit operators; allocation of funds overseen by FTA.

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 Assistance which are distributed to each state based on the states percentage of national rural…

FORWARD CONTRACT

A cash transaction common in many industries, including commodity merchandising, in which a commercial buyer and seller agree upon delivery of a specified quality and quantity of goods at a specified future date. Terms may be more “personalized” than is…