METRO Board Passes 2010 Budget
Friday, September 18, 2009 4:44 PM
The METRO Board of Directors approved a $1.26 billion budget for fiscal year 2010 at yesterday's board meeting, while keeping the operating budget flat.
Our fiscal year begins Oct. 1.
The bulk of the budget covers the METRO Solutions program of building light-rail lines.
The operating budget remains at FY09's level of $330 million.
The components of the FY10 budget include:
- Operating budget - $330 mm
- General Mobility Fund - $152 mm
- Capital budget - $683 mm
- Debt service - $99 mm
The business plan for FY2010 features 16 initiatives that improve service, efficiencies, and cash flow or decrease costs.
The FY2010 budget includes new bus service, including the 288 Brazoria Park & Ride in Pearland; Missouri City where the 262 Westwood will extend along Highway 59 and attract commuters along Texas Highway 6; and a new local route, the Eldridge Crosstown, which will run north and south on Eldridge Parkway between Westheimer and the Energy Corridor District.
METRO will also strengthen new routes added in FY09: the Pasadena Park & Ride, the 402 Bellaire Quickline, the 32 Renwick Crosstown and 426 Swiftline.
We will be adding 100 new hybrid-electric buses to our fleet, along with 100 new bus shelters.
METRO Solutions will cost $498 million in FY10, and debt service payments will be $99 million.
Factors that helped METRO keep its operational budget flat include locking in its diesel fuel at a price lower than last fiscal year and eliminating 118 staff positions that had been budgeted but many of which had gone unfilled.
METRO receives 1 percent of the sales tax and allocates 25 percent of that to the General Mobility Fund, which finances transit-related projects for surrounding cities and Harris County.
To be on the conservative side, Metro budgeted sales tax revenues the same as the prior year, $481 million.
We will post the summary of the budget on our Web site soon.