2011/04/20 Council Agenda Packet

2011 Operating Grant and Formula Funding Detail Passenger Fares 2011 Federal Funding To offset declining revenues, Community Transit raised fares in October 2008 Competitive* and again in June 2010. In 2011,the fare revenue forecast of$15.2 million is $53,400 Homeland Security grant for transit security training expected to cover 14 percent of the agency's operational costs.This revenue $50,000 FTA funds for Swift bus rapid transit service is declining slightly as recession-based job losses and service cuts cause $30,000 FTA funds for job seeker program ridership to fall. Noncompetitive* $3,300,000 FTA formula funds for preventive maintenance $4,603,000 FTA formula funds for DART paratransit service What Have We Done to Bridge $398,000 FTA formula funds for general operations the Recession Cycle? 2011 State Funding Reduced Expenses Increased Revenues Competitive* • Contained costs(2008-2011) • Increased fares twice since 2008 • Deferred capital projects • Obtained new state and $1,200,000 Regional Mobility grant for Swift BRT operations • Reduced service levels federal grants Noncompetitive* • Eliminated 103 staff positions • Expanded advertising $126,000 State funds for Commute Trip Reduction program sales program Used Reserves • Shifted FTA grant funds away $602,700 State funds for DART Paratransit service from capital to operating budget • Transferred excess funds from . Shifted interest income *Competitive funding results from a one-time competitive grant application process that workers'compensation(1x) to operating budget usually funds a specific project only one time.During the next grant cycle,the agency may • Transferred funding compete fora grant fora different project. Noncompetitive funding means the agency can to operating budget Issued Debt expect this funding based on criteria such as the amount of service provided,the population • Refinanced 2004 bonds in our service area,etc. This type of"formula"funding can recur each year. • Preserved future debt capacity 2011 Local Funding One Time Only $62,000 Compensation for project management services for construction of four Swift BRT stations in Everett Recurring by contract $275,000 Compensation for providing transportation demand management(TDM) services on behalf of Snohomish County $1,200,000 Everett annual contribution for Swift BRT $175,000 Sound Transit reimbursement for maintenance of shared park& ride facilities $1,000 Sound Transit reimbursement for Travel Training program on Sound Transit service 6 • Community Transit Economics Community Transit Economics • 7