Intercity Transit Authority adopts 2023 budget

The Intercity Transit Authority adopted a $182.7 million budget for 2023 during a meeting held on Wednesday, October 7.

The board adopted the operating budget of $86,923,723 and a capital budget of $95,780,517, totaling $182,704,240, almost the same amount it had for the 2022 budget.

The 2023 operating budget is $10.8 million more than the 2022 operating budget, which was $78,065,738.

As for revenues, Intercity Transit expects to earn $84,907,398 from operating revenues such as sales tax, vanpool fares, and interest income. It also expects $54,143,442 from grants, meaning total revenue projections are at $139,050,840, higher than 2022’s projected revenue of $95,376,146.

As Intercity Transit estimates a beginning cash balance of $190 million, they project that their fund balance would close at $146,346,600 by the end of next year’s fiscal year.

New capital projects

Out of the $95.8 million set aside for capital projects, only $3,490,000 is earmarked for new projects. This amount includes $2,000,000 for the replacement of the Routematch scheduling application being used for the Dial-a-Lift service.

At the same meeting, the board authorized general manager Ann Freeman-Manzanares to sign a contract with Via Mobility LLC to replace the Routematch scheduling platform. Procurement coordinator Jeff Peterson said that an evaluation team chose Via Mobility after reviewing other proposals and interviewing other potential service providers.

Though the budget sets aside $2 million for the new software, the contract with Via Mobility is only for $1,380,000.

Another new capital project is the new bus terminal facility to be located at Meridian-Martin Way in Lacey. The budget sets aside $950,000 for engineering work, design, environmental planning, and right-of-way acquisition needed for the new building.

Pavers and crossings on a transit island near the Olympia Transit Center will also have to be replaced as they have become a trip hazard. The budget includes $330,000 for the needed replacement.

Lastly, there is also $210,000 for the purchase of three new trucks that facilities specialists would use.