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Whatcom Transportation Authority

The Whatcom Transportation Authority's 2014 Proposed Budget reflects promising financial trends. Year-to-date, sales tax receipts have increased by 6.8% compared to 2012. The transition from self-insurance to AWC health insurance has resulted in a $1.1 million expense reduction. Operating revenue exceeds budget by $1 million, while expenses remain $1.5 million below projections. Key initiatives for 2014 include Smart Bus Planning, MAP-21 compliance, and Lean training for business process improvement. Local economic signs are positive, although potential risks remain.

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Whatcom Transportation Authority

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Presentation Transcript

  1. Whatcom Transportation Authority 2014 Proposed Budget October 17, 2013

  2. 2013 Financial Highlights • Sales Tax receipts are up 6.8% YTD from 2012 • The move from self-insurance to AWC health insurance reduced expense approximately $1.1m • Stability: • Expenses are $1.5m below budget • Operating revenue is $1m more than budget • Fuel cost is on target • Ridership is stable

  3. 2014 Fiscal Environment • Biggest threat: US tax & budget policy • Whatcom County housing market improves, although higher interest rates could affect affordability • Local Employment improves • Local construction activity and car sales are up • Slow steady sales tax revenue growth expected • Cross border economic exchange continues • Overall: less risk (see first bullet)

  4. 2014 Assumptions

  5. 2014 Operating Budget Initiatives • Smart Bus Planning • MAP21 Compliance • Business Process Improvement (Lean) Training • Trapeze PLAN & InfoAgent version maintenance • Fleet Diesel Mechanic intern • Two additional staff positions: • IT Applications Administrator • Revenue Analyst

  6. End

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