FY2024 Proposed Budget

The Transit Property Tax Levy (including State backfill funds), estimated at $4,221,512, will be transferred into the Transit fund from the General fund in fiscal year 2024. Combined with funding from other governments, $8,816,259 of the $10,783,780 in revenues and transfers in (not including reserve transfers) or 81.8% is from sources of revenue not generated by transit operations. This is lower than fiscal year 2023 funding due to the COVID-19 relief and electric bus grant revenue. Expenditures: Fiscal year 2024 budgeted expenditures represent a 1.3% increase from the fiscal year 2023 revised expenditure budget. The increase is due to capital outlay expenses to replace the fare box system in the buses. This is offset by a decrease in the amount transferred to the replacement reserves.

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