Recently, we worked on our new budget. On Monday, September 24, 2012, the Capital Metro board of directors adopted a $274.5 million project and operating budget for Fiscal Y2013, which takes effect Oct. 1, 2012. The budget was approved in a unanimous vote, which went into effect this month.
In our continued efforts in maintaining financial transparency online, we updated our website with the latest budget information available. View all the in’s-and-out’s of the new budget at capmetro.org/budget2013 or download the full version here.
What you’ll find online:
– A breakdown of where our budget goes
– Charts of revenue and operating expenditures
– Past annual and monthly budget reports
The FY2013 budget was balanced without reducing service levels or increasing fares, and allows us to continue building our reserves, which will keep us strong and financially stable in the years to come.
The $274.5 million FY2013 budget consists of a:
- $193.9 million operating budget, and
- $64.3 million capital budget, and
- $16.2 million to fund interlocal agreements and other expenses.
As a result of both board and public feedback, $250,000 in additional funding was added to the Basic Transportation Needs Fund, which provides financial support to organizations such as One Voice Central Texas to assist low-income transit-dependent riders, along with an additional $482,235 for the Bus Stop Accessibility Improvement Project (bringing the total commitment for the project to $2,478,130).
“We’ve made much progress during the last few years to strengthen our financial position and enhance our business practices. We’ve changed our labor structure, made bus service more efficient and adopted rigorous financial policies, all in an effort to improve the way we do business,” said Capital Metro President/CEO Linda Watson.