A sum of $2 million will be applied to public transportation services in the Wood River Valley over the next fiscal year.
The KART/PEAK board of directors approved a budget for fiscal year 2006-2007 during a meeting Wednesday, Sept. 20.
Projected revenue of $2,024,000 includes $520,000 from the city of Ketchum, $346,000 from the city of Sun Valley, $1,000 from Bellevue, $15,000 from Hailey and $73,000 from Blaine County.
The sum also includes $550,000 in grant money, $81,500 in fare-box revenue, and revenue from other sources such as apartment rental income and advertising.
KART/PEAK's operating plan identifies a plan of action to:
· Maintain existing services and bus routes through the winter season.
· Develop a marketing plan.
· Secure grants for bus shelters, signs and a jitney service.
· Develop a new vehicle replacement plan.
· Study route restructuring and expansion of service.
· Develop a long-term, valley-wide transit plan.
An increase in funding from the county will allow south valley commuter service to include two additional peak morning trips and one peak afternoon trip, which means 30-minute service during those times of day.
On the expenses side, KART anticipates $408,000 in administration costs, $244,500 for bus expenditures, $152,000 in shop expenses and $1,039,900 for personnel-related costs.
Total projected administration and operation costs come to $1.64 million. With capital expenses figured at $372,500, the total expenditure amount is $2,013,500.
Once budget adjustments are done, KART will be in line with this fiscal year's budget, KART Manager Terry Crawford reported.
