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9 <br /> olessismonow <br /> [millionl w t. " Bagel' e Costs nd euenifes <br /> $90 <br /> $80 <br /> $70 <br /> $60 I <br /> $50 <br /> ye e <br /> $30 I <br /> $20 <br /> $10 <br /> V <br /> CO CD O O O C. O CO O CO O O O O O O O O O N NC N <br /> N N W N N N CO N w U V O <br /> CO � O N A C.11O� ...CI N .L Ul CO �O <br /> Baseline Op Cost —— Baseline Revenues 'Costs include operations costs and planned <br /> capital funds needed for vehicle purchases <br /> Incorporating both operating expenses and expected fleet replacement costs,the Baseline Scenario projections <br /> identified a gap between revenues and expenses as early as 2022.Costs are primarily made up of wages and <br /> benefits for staff and operators and these costs historically have outpacedthe growth in revenues.This is a <br /> common issue for most transit agencies.Additionally, buses must be replaced every 12 to 15 years, and the <br /> increasing costs for fleet purchases are typically covered by operating revenue due to reduced grant funding <br /> opportunities. Finally,sales tax currently makes up almost 80 percent of operating revenue. In the future, sales <br /> tax revenue growth will fluctuate because of a number of factors, including: <br /> ► Changes to consumer spending trends <br /> ► Shifting share of Everett-based retail sales versus broader Snohomish County <br /> ► Uncertainty of growth in Everett versus the Puget Sound Region <br /> ►�- ► -> <br /> 1 00 Everett Transit Draft Long Range Plan 17 <br />