HomeMy WebLinkAbout06-10-2014 B2c PPP 2014 Transit Fund Review Presentation.pdf2013 - 2014 Fund Review
City Council Presentation June 10, 2014
•ACOMPLISHMENTS
•REVENUES
•EXPENSES
•FORECASTS
Accomplishments
Ridership – 1.1 Million Riders, up 3% from last year
Student Pass - Sales up 103% (from 11,433 trips to
24,450 trips)
Senior Mobility Training – Continuing training
courses for seniors via RDC
Solar Powered Bus Stop Lighting – Improved
visibility at 12 of 26 bus stops with solar powered
lights
FREE Wi-Fi – Introduced Free Wi-Fi on the Double
Decker bus and one other vehicle
40th Anniversary
Revenues & Expenses (FY 14/15)
Revenues:
o Federal 5307 - Lower than
projected
o State TDA - Higher than
projected
o Farebox - At projected level
Expenditures:
o Purchased Transportation - At
projected level
o Governance - At projected
level
o Capital Improvements (CIP)
FTA
5307
36%
State
TDA
48%
Fares
21% Other
1%
Purch
Trans
79%
Staff
8%
CIP
13%
CHANGES IN FINANCIAL POSITION - TRANSIT FUND
2013-14 2013-14 2014-15 2014-15
Mid Year Budget Revised Budget Budget Revised Budget
Revenues
Investment and Property Revenues 5,800 5,800 5,800 5,800
Subventions and Grants
TDA Grants (LTF) 1,799,700 1,715,494 1,065,694 1,941,563
TDA Grants (STA)- 177,706 177,706 176,137
Other Grants (ARRA, Prop 1B, Other)395,900 22,100 30,300 30,300
FTA Grants 1,918,700 1,725,342 1,764,000 1,570,000
Service Charges 650,700 650,800 669,500 669,500
Other Revenues 20,400 5,000 4,000 4,000
Total Revenues 4,791,200 4,302,242 3,717,000 4,397,300
Expenditures
Operating Programs
Transportation 2,965,809 2,968,425 2,930,900 2,939,600
General Government 320,400 320,400 329,300 290,742
Total Operating Programs 3,286,209 3,288,825 3,260,200 3,230,342
Capital Improvement Plan Projects 1,052,993 1,052,993 528,500 497,200
Total Expenditures 4,339,202 4,341,818 3,788,700 3,727,542
Revenues and Other Sources (Over/Under)
Expenditures and Other Uses 451,998 (39,576) (71,700) 677,658
Working Capital, Beginning of Year 986,100 986,147 1,238,400 946,571
Working Capital, End of Year Fund Reserves 1,438,098 946,571 1,166,700 1,624,229
20% Minimum Reserve Fund Balance - Operating 657,242$ 657,765$ 652,040$ 646,068$
Available WC for 1x Capital Expenses or oth 780,856$ 288,806$ 514,660$ 978,161$
Farebox Ratio (20% State Transit Development Act Requirement)
Total Fares / Total Operating Expenditure 19.8%19.8%20.5%20.7%
Synopsis
Federal Funding is slightly down
State revenue for FY 14-15 are significantly up
Upcoming SRTP to help identify best use for un-
programmed funds
The Transit Fund is in a solid position for FY 13-14
And more so into FY 14-15.
No rates changes are needed in FY 14-15