Intercity Transit’s (IT) board of directors voted to adopt its 2024 budget and capital improvement plan on Wednesday, December 6.
The agency is looking to spend $89,573,091 in operating expenses and $65,263,836 in capital expenditures in 2024.
In its capital budget, $32,025,052 has been allocated for new projects, while the remainder is for ongoing projects.
New major projects in 2024 include its hydrogen demonstration project in which IT would spend $5.6 million to purchase three hydrogen fuel-cell electric buses and $520,000 in necessary site upgrades for the maintenance and fueling of these buses.
After this demonstration project, the agency is also looking to start its hydrogen pilot project which involves the purchase of another two hydrogen fuel-cell electric buses for $3.4 million and designing, purchasing, and installing hydrogen fueling equipment for $5.2 million.
Another major capital expense is $7.4 million for replacing dial-a-lift vans that have exceeded their useful lifespan.
IT is also acquiring a new enterprise resource planning (ERP) software, which would cost around $3 million. The agency has been using FleetNet as its ERP software since 1993 and is currently in discussion with Avail Technologies, owner of FleetNet, to transition to cloud-based software.
Other new capital expenses include $3.5 million for additional shop equipment for fleet operations, $982,385 for purchasing non-revenue vehicles and equipment, and $923,498 for replacing old vanpool vehicles.
In terms of revenue, IT is expecting to generate $85 million in sales tax, $2.8 million in non-transportation revenue, and $510,000 in vanpool fares. The agency would also benefit from grants amounting to $45 million.
The agency’s net cash is projected to decline from $215 million to $194 million in 2024.
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TonyW33
And now that they no longer charge for a bus ride the tax payers will be forced to pay the whole amount. I would like to see a study that relates to the number of riders use the system daily. Building a Cadillac system that few people use seems foolish to me.
Tuesday, December 12, 2023 Report this
Tractor1
Hmmmm ... Hydrogen, isn't that what powered the Hindenburg?
Tuesday, December 12, 2023 Report this
FordPrefect
Intercity Transit is a colossal waste of our resources.
Wednesday, December 13, 2023 Report this