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8E.y. AP i ® ww <br /> esaiet... .1 ,° ' P' <br /> 1 <br /> 2013 OPERATING BUDGET ASSUMPTIONS <br /> REVENUES: <br /> Federal, State, and,Local: Given past and continued success in securing adequate <br /> capital funds through congressionally designated funding for major capital projects, we <br /> are able to continue to avail ourselves of annual federal capital formula grant funds <br /> toward preventative maintenance and education/training, making such funds available to <br /> the operations budget. In 2012, the State of Indiana has fixed PMTF rate for the next two <br /> years and has made it a line item in the State's Budget. We based the 2013 PMTF <br /> revenue on 2012 actual approved budget. This caused our budget figure to be <br /> decreased 20% from 2012 budget. Property Tax revenue was budgeted at $199,200 <br /> more than prior year, due to the receipt of tax revenue in June 2012 that was over <br /> budgeted figures for the first installment. <br /> • <br /> Ridership and Leases: Farebox revenues from regular services include a 4.03% <br /> increase from our 2012 forecasted levels. The revenue increase is due the service <br /> changes that occurred April 2012. They did not have as drastic of an effect on ridership <br /> that was originally estimated. However, TRANSPO ACCESS has realized an increase <br /> in ridership since 2008 and is expected to continue this trend in future years. Lease <br /> revenues reflect current tenant agreements and renewals of existing contracts. <br /> EXPENSES: <br /> Employee Wages and Benefits: TRANSPO will see an increase in wages for <br /> bargained for employees in 2013, due to the finalization of a three year collective <br /> bargaining agreement. Employee benefits reflect an estimated seven percent increase <br /> over 2012. This increase is mainly due to an estimated increase of five percent in health <br /> insurance. Other benefits reflect current bargaining agreement terms and contingencies <br /> for future premiums given their historical trends. <br /> Vehicular and Operating: Vehicular and commercial insurance costs decrease from <br /> the 2012 budget. Diesel fuel has been budgeted at an average of $3.06 per gallon and <br /> gasoline at $3.30 per gallon. Both of these markets have been extremely volatile and it is <br /> projected that future world developments could cause costs to increase. <br /> Utilities: Utility costs have been budgeted at 1% less than 2012 forecasted levels, due <br /> to TRANSPO cost savings experienced in the new Administration, Maintenance and <br /> Operations facility. <br /> 4 <br />