Enhancements and a balanced budget were the theme of the first public hearing and HART Board of Directors Regular Meeting on the Proposed FY2015 millage rate and annual budget held Sept. 8. The HART Board of Directors voted to adopt the tentative FY2015 budget, tentative levying of ad valorem taxes, and a tentative millage rate of .5000 for FY2015.
The $83.8 million proposed operating and capital balanced budget is 3.1 percent lower than the current one and includes cost-saving measures that allow the agency to expand service on five bus routes.
- The FY2015 budget is based on projected revenue of $65.8 million for operations, which is $2.1 million higher than the current budget.
- The FY2015 Proposed Operating Budget is $65,813,577, which is $2.1 million higher than the FY2014 Amended Budget and the FY20145 Capital Budget is $18,084, 814, which is $4.7 million less that the FY2014 Amended Budget.
FY2015 Budget goals were established based on the reality of available resources, to provide a stable foundation for HART for five years.
Primary FY2015 Budget Goals:
- Maintain current service levels and support continued increases in ridership, while providing enhancements to selected existing services based on Transit Development Plan (TDP).
- Long-term fiscal sustainability will include a plan to migrate the reliance on Federal funds for operations.
- Prepare HART for future growth.
- Focus overall on "forward-thinking" innovative programs; making HART an "employer of choice," and reinvesting new revenues.
In other matters, the board of directors also approved all the action items on the agenda, including reaffirming HART vision, mission, core values and goals and the proposed Key Performance Indicators (KPIs) for FY2015, and keeping the fare structure as Status Quo for FY2015. The FY 2015-2024 Transit Development Plan (TDP), is an annual update submitted by HART to the Florida Department of Transportation (FDOT).