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| TOWN OF CARY |
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| TRANSIT FUND SUMMARY |
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| The
Town of Cary began a demand responsive transit service for Cary's Senior
Citizens and those with disabilities on July 1, 2001 (the beginning of Fiscal
Year 2002). The Town Council approved
expansion of the transit service to the general public on July 1, 2002 (the
beginning of Fiscal Year 2003).
Because of the program's expansion and its eligibility for restricted
funding, this Transit Fund has been created to capture all related revenues
and expenditures. Prior to Fiscal Year
2003, costs and ticket sale revenues were included in the General Fund. On February 24, 2005 Council approved a new
service design for C-Tran in Cary in which the general public portion of the
service was approved to become a fixed-route system effective in November,
2005. The demand responsive portion of
the service continues as originally designed for Cary's Senior Citizens and
those with disabilities. |
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| The
new fixed route transit service began December 16, 2005. Staff began tracking ridership through
March 2006, and also solicited customer feedback through a survey conducted
in February 2006. The Transit Planning
Coordinator also received verbal feedback directly from speaking with
customers on the buses and as a result, an additional Maynard Loop route was
approved by Town Council in May 2006 and was implemented July 2006. |
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Actual |
Actual |
Actual |
Estimated |
Budget |
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2005 |
2006 |
2007 |
2008 |
2009 |
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| REVENUES |
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| Vehicle License Fees |
413,168 |
427,592 |
444,596 |
455,520 |
469,186 |
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| Federal Transit Grant |
856,573 |
165,614 |
668,139 |
857,700 |
1,100,000 |
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| State Grant (Allocation) |
290,909 |
236,296 |
253,480 |
177,000 |
240,000 |
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| State Grant (Earmark) |
--- |
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| State Grant (New Freedom Act) |
--- |
--- |
--- |
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| Transportation C-Tran Tickets |
111,682 |
94,536 |
124,020 |
151,304 |
247,639 |
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| Transfer from General Fund |
599,717 |
804,361 |
935,596 |
1,587,903 |
1,466,490 |
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| Appropiation from Fund
Balance |
--- |
125,000 |
--- |
--- |
300,000 |
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| TOTAL REVENUES |
2,272,049 |
1,853,399 |
2,425,831 |
3,229,427 |
3,823,315 |
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| OPERATING
EXPENDITURES |
1,776,190 |
1,965,757 |
2,642,446 |
3,105,042 |
3,823,315 |
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| OTHER FINANCING SOURCES (USES) |
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| Appropriation from Fund Balance |
--- |
0 |
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| TOTAL OTHER FINANCING
SOURCES |
--- |
--- |
--- |
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| Revenues and Other Sources Over (Under) |
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| Expenses and Other Uses |
495,859 |
(112,358) |
(216,615) |
124,385 |
--- |
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| Fund Balance - Start of Year |
340,149 |
836,008 |
598,650 |
382,035 |
506,420 |
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| Fund Balance - End of Year |
836,008 |
598,650 |
382,035 |
506,420 |
206,420 |
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