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42 <br /> Chapter 2: Costs and Funding <br /> OPT is eligible for Federal Transit Administration (FTA) Section 5307 urban funding which can <br /> be used for capital in the future. For services that will operate completely within the urbanized <br /> area, the vehicles must be funded with a source other than CTP Section 5311 funding, either <br /> Section 5307 or CMAQ. This is currently being considered. Up until this point, no Section 5307 <br /> capital applications have been submitted. <br /> FUNDING AND REVENUES <br /> Table 2-2 presents a summary of the funding and revenue sources used by OPT, with the dollar <br /> values for FY 2014. As can be seen, the revised FY 2014 budget shows $638,227 in budgeted <br /> funding to support OPT while the actual receipts were lower at $56o,196. Much of the <br /> difference is due to the fact that revenues from the regional transit sales tax and local vehicle <br /> license fees were budgeted, but no revenues were collected from these sources (which will <br /> occur in the future). Also in FY 2014, there were staffing transitions that resulted in delays in <br /> submitting invoices to funding agencies, including NCDOT-PTD. For example, a significant <br /> share of the CTP administrative grant funding was not posted in the accounting system within <br /> the period of performance. <br /> Table 2-2: Estimate of FY2014 Grant and Contract Funding for Orange Public <br /> Transportation <br /> OPT FY 2014 FY 2014 <br /> Title Budget Actual <br /> FUNDING <br /> Federal <br /> Section 5311-CTP Funds -Administrative $ 140,000 $ 35,911 <br /> Section 5311-CTP Funds -Operating <br /> Section 5310 <br /> Section 5316 <br /> Section 5317 (New Freedom) <br /> Section 5307 <br /> Section 5307 Flex Funds -STP-DA <br /> Section 5307 Flex Funds -CMAQ $ 60,000 $ 52,699 <br /> Other(Enter Name) <br /> KFH <br /> NCDOT Orange County 26 <br /> Transit Assessment Study <br />