PUBLIC TRANSIT
PROJECTED FY2009
PUBLIC TRANSPORTATION OPERATING BUDGET:
|
Total Operating Budget |
Local Share |
Percent Local Share of Total |
Federal Share |
Percent Federal Share of Total |
State Share |
|
|
$4,080,000* |
$2,508,966 |
62% |
$1,496,307 |
37% |
$74,727 |
1% |
Note:
Ø
Assumes status quo
level of service
Ø
Excludes capital
expenditures
Ø
Federal share
based on FY08 funding level assuming no increase.
Ø
State share
represents only the portion spent on operating expenditures, the balance of state
funds received are allocated for T Lift vehicle replacement.
Ø
Local share
factors all funding sources including local taxes, fund balance, fares and bus
pass sales revenue.
Ø
*Assumes
approximately $3 M transit contract plus fuel.
BUDGETED FY2008
PUBLIC TRANSPORTATION OPERATING BUDGET:
|
Total Operating Budget |
Local Share |
Percent Local Share of Total |
Federal Share |
Percent Federal Share of Total |
State Share |
|
|
$3,300,000 |
$1,715,193 |
52% |
$1,496,307 |
45% |
$88,500 |
3% |
Note:
Ø
Excludes capital
expenditures
Ø
Federal share
based on actual FY08 funding level.
Ø
State share
represents only the portion spent on operating expenditures, the balance of
state funds received are allocated for T Lift vehicle replacement.
Ø
Local share
factors all funding sources including local taxes, fund balance, fares and bus
pass sales revenue.
Ø
MV contract
$2,883,504 budgeted for 2008, with fuel included.
NEW RESOURCES NEEDED
TO FUND PROJECTED FY2009 OVER FY2008
|
Difference |
Local Share |
|
Federal Share |
|
State Share |
|
|
$780,000 |
$793,773 |
|
$ 0 |
|
($13,773) |
|
In
summary, the projected local cost for FY09 as compared to FY08 increases by
approximately $800,000 to maintain existing levels of service. In addition, the City will need to factor an
additional $232,000
in local funding that was taken from the transit system equipment reserve in
FY08 to maintain current service levels.
$793,773 + $232,000
= $1,025,773 in new local resources