FY24 Adopted Budget

The Transit Property Tax Levy (including State backfill funds), estimated at $4,112,978, will be transferred into the Transit fund from the General fund in fiscal year 2024. Combined with funding from other governments, $8,707,725 of the $10,675,246 in revenues and transfers in (not including reserve transfers) or 81.6% 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 3.0% 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 and 2.25 FTE’s added in fiscal year 2023. This is offset by a decrease in the amount transferred to the replacement reserves.

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