HomeMy WebLinkAbout05/29/2001, 4 - TRANSIT FUND REVIEW FOR 2001-02 ALCouncil WS D, o
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CITY OF SAN LUIS OBISPO
FROM: Michael D. McCluskey, Public Works Director
Prepared By: David Elliott, Administrative Analyj
SUBJECT: Transit Fund Review for 2001-02
CAO RECOMMENDATIONS
Consider and accept the Transit Fund Review
DISCUSSION
The attached worksheet, "Changes in Working Capital - Transit Fund", projects sources of
revenue and uses of revenue for the transit fund over the five-year period from 2001-02 to
2005-06. Worksheet projections are based on the following assumptions:
1. State Transportation Development Act(TDA) grant apportionments will increase about
three percent each year.
2. Federal Transit Administration (FTA)grant apportionments will stay at the level
currently approved - $807,000 per year.
3. Cash fares will increase as necessary to ensure that total fare revenue amounts to at least
20 percent of operating cost, as required by TDA regulations.
4. The annual contribution from Cal Poly will be $233,100 in 2001-02 based on preliminary
negotiations to renew the contract. Cal Poly's annual contributions will increase about
three percent each year.
5. CEP project appropriations will include:
• Capital Cost of Contracting @ $50,000 each year
• North Area Regional Facility- Transit @ $100,000 in 2001-02, $1,000,000 in
2002-03, and $1,400,000 in 2004-05
• Short Range Transit Plan @ $38,000 in 2001-02
• Wheelchair Lift Replacement @ $134,000 in 2001-02
• Emission Reduction Equipment @ $39,000 in 2003-04
• Vehicle Replacement-Buses @ $825,000 in 2004-05
6. There will be no formal significant operating program changes, although operating
program costs will rise from$1,641,400 in 2000-01 to $2,028,400 in 2001-02 because of
the increased costs of purchased transportation under the recently awarded contract.
From the worksheet Public Works has concluded that current transit fares, anticipated FTA and
TDA grant apportionments, and discretionary capital grants will cover all planned operating
expenses and capital outlays from 2001-02 through 2005-06, including replacement of three
buses. Despite this, in July 2002 the regular cash faze will probably have to be increased from
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Council Agenda Report—Transit Fund Review for 2001-02
Page 2
$.75 to $1.00 and the senior/disabled cash fare will probably have to be increased from $.35 to
$.45 in order to keep the level of total fare revenue above 20 percent, as required by TDA
regulations.
ATTACHMENT: Changes in Working Capital -Transit Fund
Council Agenda ReportsUransit Fund Review 01-02
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