LTD’s FY25 Annual Budget aimed at boosting service, operating and maintenance personnel

June 14, 2024
The $219.5 million budget represents a 20 percent increase from the FY24 amended budget due to increased operating costs and reserves for future capital projects.

Lane Transit District’s (LTD) Board of Directors approved the district’s Annual Budget for Fiscal Year (FY25) 2024-2025 during its June 12 meeting. LTD’s new fiscal year begins July 1, 2024. 

The LTD FY25 Annual Budget is comprised of six funds:  

  1. General Fund ($90.9 million) 
  2.  Specialized Services Fund ($14.9 million) 
  3.  Medicaid Fund ($18 million) 
  4.  Point2point Fund ($699,875) 
  5.  Capital Projects Fund ($36.6 million) 
  6.  Sustainable Services Reserve Fund ($500,000) 

The total approved budget is $219.5 million (including unappropriated reserves). The approved FY25 Annual Budget represents a 20 percent increase from the FY24 amended budget due to increased operating costs and reserves for future capital projects. 

The General Fund Operating budget represents an 8.6 percent increase, reflecting LTD’s commitment to increasing resources for operations and frontline employees. 

LTD’s budget is funded through a combination of fares, taxes paid by local employers and employees and state and federal sources, including government grants. 

Made up of community volunteers and board members, LTD’s Budget Committee met to review the proposed budget before it went to a public hearing on May 28. 

“LTD’s budget process is transparent and made stronger with community input,” said LTD Board President Gino Grimaldi. “LTD staff worked meticulously to create this budget that will allow the district to focus on what's important - increasing service and recruiting more bus operators, fleet mechanics and public safety officers."  

The LTD Board has also adopted three additional items. With LTD’s River Road Station closed, regulations stipulate the property must be declared “surplus” before LTD can market or sell it (the proceeds would be used for a future Federal Transit Authority-funded project). Appraised in 2024, the value of the 1.92-acre property is $2.7 million. The board has declared the property a surplus and delegated authority to Chief Executive Officer Jameson Auten to negotiate its sale at or above its appraised value. 

The final items are two of the three key documents that allow LTD to develop its budget. The LRFP offers the necessary information to create a timeline for community investment projects and projects the anticipated resources and expenditures during a 10-year period, aligning LTD with the Strategic Business Plan. The CIP has two fundamental objectives:  

  1. To make efficient use of LTD’s financial resources 
  2.  To implement regional priorities that anticipate the need for public transportation in the future 

Both were adopted by LTD’s Board of Directors.