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Financial Conditions <br /> Since 2007, Everett Transit has faced a difficult fiscal situation.Although operating revenues have increased <br /> since 2011 it is still recovering from a decrease from 2007 to 2011 due to the recession. During this time, its <br /> operational expenditures have slowly increased.As a result,the agency had to use its operating reserves to <br /> cover any shortfalls for annual operating expenses. Overall, Everett Transit's operating reserves have declined <br /> since 2009.Along with this decline, revenue hours and boardings have also decreased from 2007 to 2016. <br /> Throughout, Everett has been committed to providing as much service as feasible and will continue to <br /> provide services to the degree that they are supported by Everett's residents. <br /> In 2016, Everett Transit's operating expenditures totalled to $22 million which includes Everett Station <br /> operations, administration, paratransit, and fixed-route transit.The capital expenditures totaled $3.8 million <br /> which primarily includes spending on bus replacement but can also include right-of-way improvements and <br /> operational bases/facility improvements. From 2007 to 2016 Everett Transit has received on average $1.7 <br /> million in capital grant revenues per year.The $25 million operating revenues come from a variety of sources <br /> which are shown in the Operating Revenues by Type figure below. <br /> $22 citcapitat <br /> ioin <br /> operating ilfon'in capital grant revenues \MII�Ioperating <br /> expenditures 12016) expenditures[2016) [yearly average from 2007-2016) revenues[20161 <br /> Fl 1,1 res 0 1 j 1 '�F 0 e 'B B ° y� * k:4 T • '�'� <br /> J I!1,4, aft fila a <br /> $25,000,000 <br /> :::: <br /> , , .— -_..._ .._����:�� <br /> • �■ • <br /> �•�-'I11 II_ • <br /> 017- - <br /> - •A • - <br /> $5,000,000 <br /> 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 <br /> ❑Everett Station Operations ❑Administration i- Paratransit a Fixed-Route <br /> This figure shows the breakdown of Operational Expenditures from 2007 to 2016. In 2007 Everett Transit <br /> completed the payment the City's general fund, for a $8.1 million loan, used to complete the Everett Station. <br /> The expenditures for that year reflect that one-time transaction. <br /> 14 Connecting Your Future 97 <br />