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EVERETT TRANSIT <br />MEMO <br />TO: <br />Deb Williams <br />FROM: <br />Joyce Hill, Financial Analyst <br />SUBJECT: <br />Page 10 Update to the TDP Draft <br />DATE: <br />8/24/2015 <br />The following changes are reflected in the 8/20/2015 Update to the Everett Transit TDP 2015- <br />2020 and 2014 Annual Report draft, which will be presented to Council on August 26th: <br />• Farebox Revenues 2016 — 2020 Estimated (lower due to expectations closer to actual <br />2015 revenues received year to date) <br />• 2017 & 2018 Transfer to Capital Reserve — Operating Expenses (Transfer to Capital for <br />design and pre -construction of Operations Base) <br />• 2017 & 2018 Transfer from Operating Reserve — Capital Revenue (draw from reserves <br />for design and pre -construction of Operations Base) <br />• 2017 & 2018. New.Operations Base— Capital Expenditures (new estimate based on <br />reserve requirements —Design and pre -construction only) <br />