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Bucks County Transport, Inc. Status FY 2011-12

Bucks County Transport, Inc. Status FY 2011-12. Current Financial Position Current Operations Service Statistics/Trends Funding Statistics/Trends Other Information/Assumptions Capital Status Review. Bucks County Transport, Inc. Current Financial Position:. Unrestricted Net Assets

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Bucks County Transport, Inc. Status FY 2011-12

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  1. Bucks County Transport, Inc. Status FY 2011-12 • Current Financial Position • Current Operations • Service Statistics/Trends • Funding Statistics/Trends • Other Information/Assumptions • Capital Status Review

  2. Bucks County Transport, Inc.Current Financial Position: • Unrestricted Net Assets • Included in this number is TMA Services, WTW and Capital Additions.

  3. Bucks County Transport, Inc.Outstanding Debt Schedule

  4. Bucks County Transport, Inc.Aged Accounts Payable as of 2/6/2012 Company policy is to pay net 30 days from date of invoice received

  5. Bucks County Transport, Inc.Aged Accounts Receivable as of 1/31/2012 • Accounts Receivable – Past due 90 days and over

  6. Bucks County Transport, Inc. Current Operations: • Staffing Level • Contract Provisions • Healthcare • Pension • Fuel • Fares • Other major factors producing cost increases above inflation • Cost Savings Initiatives

  7. Bucks County Transport, Inc. Staffing Level/Org Chart Vince Volpe Executive Director Jim Raymond CFO Grace McCausland Executive Secretary Ben Brigaman HR Manager Accounting Art Harzell Glenn Dornsife Terminal Managers Cindy HaddenFurst Operations Director ED Hackett Director of Maintenance Bryan Knight IT Manager Ladonna Synder Bristol Main. Facility Terminal Vehcile Main Reservations

  8. Bucks County Transport, Inc.Personnel

  9. Bucks County Transport, Inc.Personnel • BCT has implemented a hiring policy to hire more part-time employees for the following reasons: • Reduces overtime • Reduces benefits cost • Increases productivity of work force • Work force is more flexible • BCT employs 100 drivers and 52% of drivers are part-time. Goal is to have a ratio of 75% part time drivers. • BCT currently has 6 contractors

  10. Bucks County Transport, Inc. Health Care • Effective 1/1/2011 Bucks County Transport Inc., changed the health care plan from an HMO plan to an HSA high deductible plan. (Blue Cross) • New plan maintains current level of benefits. • Annual Savings were $70,000. • 2012 renewal rate decreased by approximately 6%. • There are 43 employees enrolled in plan. • Employee pays 10% of monthly premium

  11. Bucks County Transport, Inc. Pension Plan: • Effective 1/1/2011 - BCT change Pension Plan from a Defined Contribution Pension Plan to a 401K Plan. • Matching contribution is determined by the Board on a quarterly basis. • Currently there are 22 people enrolled in the plan. • Projected annual savings $130,000. • Employees have internet access to their funds. • Plan in administered By Expert Plan • Investing option is Vanguard Funds.

  12. Bucks County Transport, Inc. Fuel • Current Cost per Gallon as of 2/14/2012 • Diesel - $4.49 • Gas - $3.89 • CNG - $2.54 • Projected Cost per Gallon and Basis for Projection • For budget purposes, Diesel and Gas prices are projected to increase 10% per year • In the next two years, we plan to replace 20 diesel vehicles with cng vehicles. Projected annual fuel saving per vehicle would be $4,000.

  13. Bucks County Transport, Inc. Shared Ride Fares: • Date of Last Fare Increase April 2008 • Current • Fares (include $2.15 fuel surcharge) • $20.15 per in county trip • $34.15 per out of county trip • $29.15 per 2 or more riders out of county • AAA - AAA passenger pays $1.00, remaining fare paid by AAA • Planned Changes • April 2012 • $22.00 per in county trip • $36.00 per out of county trip • $31.00 per 2 or more riders out of county • AAA - AAA passenger pays $1.00, remaining fare paid by AAA

  14. Bucks County Transport, Inc. Cost Increases Beyond Inflation:

  15. Bucks County Transport, Inc. Cost Savings Initiatives:

  16. Bucks County Transport, Inc. Shared Ride Funding

  17. Bucks County Transport, Inc. Shared Ride Statistics/TrendsIncluded (shared ride/MATP/MHMR/WTW)

  18. Other Information/Assumptions:

  19. Capital Status Review

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