Capital Metro Approves FY2010 Budget
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Capital Metro Board of Directors Adopts
Operating Budget for Fiscal Year 2010
September 28, 2009
Capital Metro's Board of Directors adopted a balanced operating budget for the upcoming fiscal year on Monday, Sep. 28, 2009. The budget for FY2010, which begins on Thursday, Oct. 1, does not include additional major service reductions despite a projected five percent drop in sales tax revenue. Local sales tax revenue is Capital Metro's primary funding source.
Capital Metro balanced its operating budget by tapping $2.6 million in federal stimulus funding for operating expenses; however, the Capital Metro Board also directed staff to begin the public process to increase fares sooner than Aug. 2010, with the intention that the federal stimulus funding can be redirected to its original purpose: improvements to the Red Line.
"Our goal throughout this process has been to maintain as much service on the street as possible even with the ongoing decline in revenue," said Capital Metro President/CEO Fred Gilliam. "Capital Metro staff and board members have done an outstanding job with this budget under some very difficult and challenging circumstances."
The Board approved a $164.7 million operating budget. Capital Metro also plans a $21.65 million capital program for FY2010. Expected grant revenues of $42.35 million will support both operating expenses and capital projects to achieve the agency¿s core mission.
The balanced budget supports regional mobility projects with an allocation of $3.7 million to support projects by the City of Austin and other member cities. Additionally, through prudent management, Capital Metro will increase its cash reserves to a projected $10.59 million during FY2010.
Operating Budget
The operating budget supports core bus service, including local, express and UT Shuttle routes. The budget reflects a five percent decrease in fixed-route bus service hours due to the suspension of `Dillo routes and other routine schedule adjustments designed to maximize available resources.
The budget projects a modest increase in revenue from fares due to the anticipated opening of the Red Line and the planned fare increase in August 2010. Capital Metro anticipates giving more than 33 million rides next year.
Given the volatility of the economy, revenue projections as well as fuel, utility and other costs will be monitored carefully throughout the fiscal year.
Capital Program
The FY2010 capital program, while modest, still makes headway on several major projects and supports the agency's commitment to an immaculate fleet and improved and accessible facilities.
The capital budget supports the ongoing fleet modernization program for both bus and paratransit vehicles. Although Capital Metro is deferring a planned bus purchase from FY2010 to FY2011, because of federal stimulus funding, forty new buses have already been ordered and will be added to the fleet later this year.
Capital Metro will improve pedestrian and bicycle mobility and access to transit facilities by developing hike and bike paths between Highland Station north along Airport Boulevard to Morrow Street. The agency will use $1.9 million of federal stimulus funding in this Rails with Trails project. Eventually, trails, sidewalks, and bike lanes will connect all nine stations of the 32-mile Capital MetroRail Red Line.
The capital budget also includes $1.5 million in bus stop improvements, including shelters, benches, and paving/curb access, with an emphasis on increasing bus stop accessibility.
Capital Metro will also continue the development of Capital MetroRapid and make enhancements to the MetroRail system.
Learn more about the budget process.
ABOUT CAPITAL METRO Capital Metro's mission is to provide quality public transportation choices for our community that meet the needs of our growing region. With the highest per capita ridership in Texas, Capital Metro serves more than 3,000 bus stops with metro, flyer and express routes, and UT Shuttle service. Capital Metro also provides MetroAccess service for passengers with disabilities, van and carpool coordination, and freight rail service.
Capital MetroRail is a new passenger rail system expected to begin soon between the City of Leander and the Convention Center in Downtown Austin. MetroRail is part of the All Systems Go Long-Range Transit Plan that includes expanded local and express bus service, MetroRapid bus service, and new and improved park and ride lots. For more information, including an online trip planner and a commute cost calculator, visit www.capmetro.org or call (512) 474-1200.
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Capital Metropolitan Transportation Authority
2910 East 5th Street | Austin, Texas 78702 | (512) 389-7400
Specific Route Information | (512) 474-1200