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

GREEN MOUNTAIN TRANSIT FY21 OPERATING BUDGET February 18, 2020

 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

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

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