Budget Steering Committee 
 

DEPARTMENT:
Budget Steering Committee
REPORT NUMBER:
2018-22-BSC
PREPARED BY: Len Tapp, Division Manager, Transit Services 
REPORT DATE: 01/29/2018
MEETING DATE: Feb 05, 2018 04:00 PM - Budget
 
SUBJECT:Transit Subsidy Rate (2015-2018)


 



PURPOSE

To provide the Transit subsidy rate for the period 2015-2018 as requested at the meeting of January 25, 2018.



INFORMATION

The Committee requested information regarding the municipal subsidy rate for Transit Services.

The two charts below summarize the cost of operating expenditures and the revenue sources for Transit Services for 2015-2018. The percentage of Municipal funding has been relatively constant over the four year period, ranging from 59.0% to 61.2%.





The chart below indicates total ridership detailing ridership for both Conventional and Handi-Transit Services.


The municipal subsidy rate for both Conventional and Handi-Transit Services is based on the municipal contribution and ridership for each service. The blended rate provides the overall subsidy per fare based on the two transit services. For comparison purposes, the cost of a regular cash fare and ten-ride ticket has been included for each year.


Capital Funding

Over the past 15 years, capital projects for Transit Services have been funded from sources other than the tax base. These sources include Provincial Grants, Provincial Gas Tax funding, and debt financing (funded from Provincial Gas Tax).

For 2017 capital projects, included in the 2018 budget submission is tax base funding for debt financing of $112,738 and $8,900 (one month) debt financing for 2018 capital. In 2018, tax base funding is budgeted to fund two capital projects totalling $75,000.

The following chart outlines the tax base funding forecasted for 2018 through 2023. It is anticipated, and included in this table, that capital projects will qualify for funding through the Public Transit Infrastructure Fund at a 60/40 split (60% city cost).



















Approval

February 02, 2018 09:11 AM
John St Marseille
General Manager, Infrastructure and Municipal Works
February 02, 2018 09:14 AM
Tracey Bailey
General Manager, Financial Services
February 02, 2018 09:25 AM
Maureen Adams
Chief Administrative Officer