The Annual Budget for the fiscal year 2016 is balanced, and reflects the vision and strategic goals of Trinity Metro to provide effective multi-modal transportation that meets the wishes of our customers.
The Annual Budget and was adopted by the Board of Directors on September 28, 2015 and includes the operating and capital budgets.
Total operating revenue is budgeted at $91.8 million. Sales tax and grant revenues are Trinity Metro’s main sources of revenue representing approximately 73.9% and 14.3%, respectively, of the total operating revenue budget. Operating expenses are budgeted at $67.9 million. Salaries and fringe benefits are Trinity Metro’s largest expense category at $36.5 million.
Service type expenses of $22.7 million primarily consist of purchased transportation, which includes payments to third-party contractors. Third-party contractors operate Trinity Metro’s commuter rail service called the Trinity Railway Express and certain grant funded programs. Additionally, Trinity Metro’s paratransit service called Mobility Impaired Transportation Service (MITS) contracts approximately 60% of its trips.
Trinity Metro’s projected capital expenditures for fiscal 2016 are $413.9 million; and Trinity Metro’s share, from local funds, is expected to be $192.4 million. Our federal capital grant reimbursement revenue is anticipated to be $194.3 million.
The Trinity Metro Board of Directors and staff are committed to achieving our established goals while operating within the approved annual budget.