AAATA FY 2014 Budget OK’d: $33.97M

A $33.97 million expenditure budget for fiscal year 2014 has been approved by the board of the Ann Arbor Area Transportation Authority. The budget for FY 2014, which starts on Oct. 1, includes revenues that almost exactly balance those expenditures, leaving an excess of $20,500. The approval came at the board’s Sept. 26, 2013 meeting.

The FY 2014 budget restores a three-month operating reserve. The board previously had authorized dipping below that level after the state of Michigan’s allocation for operating support last year was less than expected. During the past year, however, the state legislature made an additional appropriation increasing the percentage of operating expenses subsidized by the state from 27.11% to 30.65%.

According to CEO Michael Ford’s monthly written report to the board, the budget will fund 200,000 fixed-route service hours, 64,000 paratransit service hours, 19,000 NightRide service hours, 9,000 AirRide service hours and over 2,000 ExpressRide service hours.

That translates into 7 million total passenger trips for the next year.

The FY 2014 budget reflects about a 4.9% increase compared to last year

AAATA FY 2014 Revenue Budget

AAATA FY 2014 Budget: Revenue. (Chart by The Chronicle with data from AAATA)

AATA FY 2014 Budget: Expenses

AAATA FY 2014 Budget: Expenses. (Chart by The Chronicle with data from AAATA)

This brief was filed from the downtown location of the Ann Arbor District Library, where the AAATA board holds its meetings. A more detailed report will follow: [link]