FY21 OPERATING BUDGET February 18, 2020 GMT is an independent - - PowerPoint PPT Presentation

GREEN MOUNTAIN TRANSIT FY21 OPERATING BUDGET

February 18, 2020

BUDGET OVERVIEW

 GMT is an independent Municipal Corporation chartered

by State statute

 Budget is approved by the GMT Board of Commissioners

(13 members)

 Fiscal Year – July 1 to June 30  Combined Urban & Rural Budget

 Urban – Chittenden County Service Area plus Link routes  Rural – Washington, Franklin and Grand Isle County Service

Area

BUDGET OVERVIEW (CONTINUED)

 FY21 Budget Assumptions

 Flat funding in State and Federal Funding  Some service modifications and internal cost savings,

including fare structure (paratransit)

 Higher transfer to the Local Capital Match Fund  Increased costs for personnel wage and benefits  Stable costs for workers compensation insurance  Increasing fuel costs and insurance

FY21 REVENUES

FY21 Expenses

FY21 REVENUES & EXPENSES SUMMARY

Municipal assessments are approximately 14% of total revenues.

FY21 MUNICIPAL ASSESSMENTS

• GMT’s Charter includes assessments of GMT’s member municipalities:
• Burlington, South Burlington, Winooski, Essex, Shelburne, Williston, Milton,

& Hinesburg

• Colchester pays a Paratransit Assessment and began a three year

contract in FY15 for services along the Milton commuter. This initial contract expired on 6/30/17, however Colchester committed to another 3 year contract starting with FY18 which will expire on 6/30/2020.

• Assessment Components
• Fixed Route – based on level of service in community
• Capital Match – Capital funding for support of fixed route services and

facilities

• Special Assessments - Non-Fare Services or other service agreements,

generally affiliated with fixed route services

• ADA Paratransit – based on number of trips taken by residents of a

community in the previous year

FY21 PROJECTED ASSESSMENTS

FY21 VS. FY20 ASSESSMENTS

Questions?