Agenda - 04-01-1991 - Laserfiche WebLink

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M 12 Will fund about forty -eight percent of the operating deficit. In anticipation of the decreases in federal funds, fare and pass prices were increased about twenty percent in FY 1990 -91. To date, there has not been any corresponding decrease in ridership related to this fare increase. The system should see an increase in the revenue cost ratio if ridership continues to remain stable. The Town increased parking fees and dedicated some parking revenue towards transit. The University is also phasing in a re- structuring of parking fees to make them more competitive with market conditions. The increase in parking fees may stimulate additional transit usage. For FY 1991 -92, the Section 9 operating assistance allocation will only fund about forty percent of the deficit. The decrease in federal funding comes when a recessionary economy is causing budget constrains at the local and state levels. Given the funding restrictions on all levels, the Transportation staff is looking at alternatives to continue to provide service at the level requested by the Chapel Hill community with minimal increases . in costs. The alternatives being considered include: increasing user fees to generate more operating revenue, eliminating unproductive or marginal service, and changes in policy to stimulate transit use. Since the local for Chapel Hill Transit comes from three sources; the Town of Chapel .Hill, the University of North Carolina and the'Town of Carrboro, this provides multi- financial resources for local funding. All three entities seem to be committed_ to devoting the necessary local financial resources to continue effective and efficient transit operations. Long range forecasting of operating, capital and planning funding needs is done through several documents within the Town. Five year projections of funding needs are prepared annually for submission to the N.C. Department of Transportation, Public Transportation Division. The Town also prepares an annual element to its Capital Improvement Program which includes all transit capital projects and forecasts additional capital needs for a five year period, This document is reviewed and approved by the Town Council. The 1987 -1993 Chapel Hill Transit Short Range Transit Plan was Approved in 1988 by the Town's Transportation Board. This Plan provides an assessment of current service and anticipated funding, capital and service needs fora five year period. The Transportation Report to the Town's Comprehensive Plan also discusses possible service and capital improvements for a 15 to 20 year period. The recommendations included in the SRTP have been incorporated into the Town's Capital Improvement Program and Comprehensive Plan. The 1987 -1993 SRTP was updated in 1988 to reflect programmatic changes.