; but (B) does not include the interpretation and application of rights arising from an existing collective bargaining agreement. (2) Arbitrator The term arbitrator refers to either a single arbitrator, or a board of arbitrators, chosen under applicable procedures. (3) Interstate compact agency operating in the national capital area The term interstate Compact agency operating in the national capital area means any interstate Compact agency that provides public transit services and that was established by an interstate Compact to which the District of Columbia is a signatory. (4) Financial stress The term financial stress means that at least 2 of the following 3 financial issues are affecting an interstate Compact agency operating in the national capital area: (A) The interstate Compact agency’s ratio of operating revenues (excluding any subsidy payment or budgetary assistance) to operating expenses (as measured on the last date of each fiscal year) has decreased in the aggregate over the preceding 2-year period. (B) The interstate Compact agency has taken at least one of the following measures during the preceding 2-year period: (i) Reduced service. (ii) Increased fares. (iii) Diverted capital funds to pay for operating expenses during a period in which the interstate Compact agency’s ratio of capital backlog to system value is greater than the average ratio of capital backlog to system value for other United States transit systems. (C) It is not reasonably foreseeable that the interstate Compact agency will be in a state of good repair within the following 2 years as determined by the Federal Transit Administration’s Transit Economic Requirements Model or any other alternative model that the Federal Transit Administration may utilize in the future. 18303. Standards for arbitrators (a) Definition In this section, the term public welfare means, with respect to arbitration under an interstate Compact— (1) the ability of the interstate Compact agency to finance wages and benefits resulting from an arbitrator’s