Some Numbers in Kitsap Transit Deficit

Wednesday’s story was meant to be an introduction to a process that I’ll get into in greater detail over the next month. Some questions were raised in comments, however, that I can try to answer now. Also, I suggest you go check out the numbers for yourself at http://www.kitsaptransit.org/Board/Board.html.
The board meetings usually start at 9:15 a.m., but I see on the KT Web site that the ones Nov. 18 and Dec. 16 will begin at 9:45 a.m.
Keep in mind that nothing is cast in stone. It’s just the beginning of the process and these are suggestions the board can look at to cut the budget.
Fares increases being looked at:
Increase vanpool fares to the low level of other Puget Sound transit agencies
Institute a 50-cent peak-hour surcharge before 8 a.m. and after 3:30 p.m.
Double the fare, to $3, for outlying area Access service.
Sales Tax Revenues:
From what I can gather from the numbers, the 2008 budget showed sales tax revenues budgeted at $32,370,000 (I don’t think they’ll get that much, but that’s what was budgeted). They’re projecting $28,690,000 in 2009, a drop of $3,680,000 from what was budgeted for this year. That tells me they would be $3.7 million in the hole plus whatever they fall short this year.
Ridership Increase Revenues
I can’t tell how much revenue they’ve gained from the 7.3 percent increase in ridership. This might give an indication. The budgeted amount of operating revenue for 2008 was $4,529,500 (The increased ridership will make the actual amount higher).   That’s mostly fares but includes parking fees, advertising revenue and rental income. They’re projecting that to go up to $7,7410,066 in 2009, not counting any fare increases, an increase of $2,880,566.
That would tell me that would have an extra $2.9 million from new riders to use to cut the deficit, plus whatever extra they bring in over what they budgeted this year.
I can’t find right now what diesel cost they’re budgeting for next year. It is $2.70 this year.
Fast ferries
The records show that of the $10.3 million in capital expenses for passenger ferries spent over the years, including both the Port Orchard-Bremerton route and the wake research/boat purchase, all but $200,000 came out of federal grants. That $200,000 was a match for Bremerton Transportation Center dock equipment that could still be reimbursed by the state.
Like I said, I’ll get into a lot better detail as this goes along, and be able to rely on a better numbers guy than myself. Let me know if there are any obvious goofs in my math.

2 thoughts on “Some Numbers in Kitsap Transit Deficit

  1. WSDOT puts out a report covering the state, but it naturally isn’t about this year, or even last year. The latest I found on their site is this for 2006:
    http://www.wsdot.wa.gov/NR/rdonlyres/843DC6CE-B0F7-4560-B734-DD8B9DB80248/0/41Appendix_5.pdf

    It can give you a rough idea of the portion of operating expenses paid from the fares.

    It’s too bad KT doesn’t spell it out on their web site, so it would be easy to see what effect the higher fares and greater number of riders has had this year already — and what effect could be anticipated in 2009.

  2. Here’s where you can find the actual sales tax distributions at DOR:
    http://dor.wa.gov/Content/AboutUs/StatisticsAndReports/stats_localsales.aspx

    Click the link named “Find distributions for a single location,” then choose which tax you want to see, which year, which month, and which jurisdiction.

    If KT projected $32.37 million for this year, they were anticipating an increase of more than 6 percent. I don’t know anyone else who projected such a big increase in sales tax revenue. Maybe that’s one reason they’re in a bind.

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