FY24 budget approvals for LTD, WeGo and Pittsburgh Regional Transit

Nashville’s WeGo, Lane Transit District (LTD) in Lane County, Ore., and Pittsburgh Regional Transit have all finalized their FY24 budgets in the past week.

Lane Transit District

During its June 21 monthly meeting, the LTD Board of Directors approved the district’s FY24 budget. The budget is comprised of six funds:

1. General Fund ($91.8 million)
2.  Specialized Services Fund ($14 million)
3.  Medicaid Fund ($16.5 million)
4.  Point2point Fund ($895,539)
5.  Capital Projects Fund ($59.5 million)
6.  Sustainable Services Reserve Fund ($238,919)

 Combined, the six funds total nearly $183 million. The approved FY24 budget represents a 10.3 percent decrease from FY23’s amended budget due to reductions in capital projects and reserves.

The General Fund Operating budget of $62.5 million represents a 10 percent increase, reflecting the district’s commitment to 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. Comprised of community volunteers and board members, LTD’s Budget Committee met to review the proposed budget before it went to a public hearing, Board of Directors review and then adoption.

“I want to thank the community members who serve on LTD’s Budget Committee for sharing their time and expertise with staff and board members,” said Jameson T. Auten, LTD’s CEO. “Their review of the budget and counsel provides LTD with an important level of budget transparency and accountability to the community.”

WeGo

The Metropolitan Council, which has legislative authority of the Metropolitan Government of Nashville and Davidson County, Tenn., approved its FY23-24 budget that will allow WeGo Public Transit and its operating body Nashville Metropolitan Transit Authority (Nashville MTA) to fully fund current service and fare levels and expand service in the upcoming year. It also includes $12.2 million in one-time funds to advance a high-capacity transit project in the Murfreesboro Pike Corridor to Antioch and Nashville International Airport.

“Combined with $2 million from a prior year capital spending plan appropriation, we have $14.2 million to advance the Murfreesboro Pike project. We expect to be into the development process later this year, soliciting proposals for the necessary environmental, planning, modeling and design services necessary to prepare the project for federal funding,” WeGo CEO Steve Bland said. “We thank Nashville Mayor John Cooper and his staff for the support for this important project.”

“This approved budget will allow WeGo to provide expanded frequency and service hours on our key routes based upon the Council-adopted Metro Nashville Transportation Plan. It is very good news for our riders,” said Nashville MTA Board Chair Gail Carr Williams.

The $71.9 million operating budget includes supplemental funding for extending service to Lawson High School in Bellevue.

Pittsburgh Regional Transit

PRT’s Board approved the agency’s FY24 operating and capital budgets on June 23. The FY24 budget, which runs from July 1, 2023, to June 30, 2024, includes no major service reductions, layoffs or fare hikes.

The FY24 operating budget totals $535.4 million. It is 1.8 percent higher than FY23’s operating budget. The FY24 capital budget totals $195.2 million. It includes $32.2 million toward the future rehabilitation of the Panhandle Bridge, $17.8 funding for 30 40-foot clean-diesel buses, $2 million to repave the Dr. Martin Luther King, Jr. East Busway and nearly $100 million for various improvements to fixed guideways, facilities and stations. PRT used $69.6 million in federal stimulus funds to balance the budget due to lower passenger revenue that can be attributed to the COVID-19 pandemic. Ridership continues to grow but remains 40 percent below pre-pandemic levels. For the second year in a row, PRT’s budget assumes a 15 percent increase in ridership.