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Multiyear financial plan footnotes <br />1. Sales tax projections provided by City of Everett. <br />2. Fare revenues appear to be slowly recovering from pandemic lows. <br />3. The application of FTA formula grant funds is included in FTA preventive maintenance for the <br />years 2021-2027. <br />4. Pandemic relief funds. <br />5. State operating grants for paratransit assistance as well as Move Ahead WA state funding. <br />6. Everett Station revenue will increase slightly due to the new lease with the Bezo's Academy <br />7. Other investments, advertising, and misc. revenue. <br />A. Costs are expected to increase substantially in 2023 due to inflation after 2023 we expect <br />inflation back to 3%. <br />B. Everett Transit and Community Transit entered into an interlocal agreement from December <br />2007 through December 2022 to share sales and use tax at 0.005% of sales and use activity in <br />the City of Everett. This tax share therefore fluctuates according to sales and use activity as <br />projected in sales tax (1). <br />C. Transfers are made from operating reserves to capital reserves as required for local match of <br />anticipated federal grant funds. <br />D. Established a $5M operations reserve to assure continuity of service in poor economic times. <br />*ET has adopted Resolution 5513 that requires a fund balance of 20% of operating <br />revenues. This resolution applies specifically to general government but governs ET budget <br />projections. Section X keeps projections within that target. <br />Projects of Regional Significance <br />None at this time <br />Everett Transit 2022 TDP — DRAFT <br />