Agenda - 11-01-1993 - VII-A - Laserfiche WebLink

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Triangle Transit Authority Budget and Cash Flow Assumptions October 1, 1993 • Bus mileage is budgeted at 600,000 miles for year one. For FY 95 through FY 98 bus mileage is budgeted to increase 7 percent each year. • Cost rates are projected to increase by five percent per year to account for inflation. • With the delivery of 20 CNG buses in late FY 94 the 15 mid sized buses will be used for service to outlying communities. The service to the outlying communities is planned to be operated like large vanpools. Expenses are estimated to be for twelve routes, at 50 miles per day and $2.50 per mile. Revenues are estimated to be 1/2 of operating expenses. • Planning expenses in FY 93, FY 94 and FY 95 include a $1,000,000 regional planning project. A designated federal grant will pay$750,000 towards the study and is included under grant revenues. • Vanpool operating revenues and expenses increase by 20 percent each year. • Investment interest is 3% of prior year fund balance • Capital Purchases 20 medium duty buses, supervisor's van and maintenance truck were delivered in March 1993. Financing is for five years at 4.19 percent interest rate. FY 93 bus capital expenses are 4/12 of the annual amount. Fareboxes, and office equipment are included in the equipment line item. The operating facility will house bus operations and maintenance. It is assumed to cost $4,500,000 and will be financed 80 percent by an FTA grant, 10 percent by a state grant and 10 percent from TTA fund balance. Ten ridesharing vans are purchased each year (except 8 in FY 93). Five are assumed to be replacement vehicles and five are assumed to be expansion vehicles. Financing for vans purchased in FY 93 is 4.19% and assumed to be 5% for FY 94 - FY 98. The 20 CNG buses and fueling facility are estimated to cost$7,000,000. Funding will be 80% FTA, 10% NCDOT and 10% TTA. Grant contracts are projected to be received in late 1993 with vehicle delivery in mid 1994. The park and ride lots, the interactive ridesharing computer and the bus location system are assumed to financed from the CMAQ program at a rate of 80% federal, 10% state, and 10% local. • NCDOT is expected to provide grant funds for 1/2 of the ridesharing program, ten percent of the capital costs and one half the local share for the planning grant. • Vehicle registration tax funds are projected to increase at a rate of two percent per year.