Published August, 30 2011

Board Adopts 2012 Budget

Indianapolis — Tuesday, August 30, 2011 - The Indianapolis Public Transportation Corporation (IndyGo) has adopted a balanced budget for 2012 as of Monday, August 29, 2011, that will be sent on to the City County Council for review. The IndyGo budget will be introduced at the City County Council on September 19, 2011, at 7:00 p.m. in the CCB Public Assembly Room. The budget incorporated an excess property tax levy of $0.023/$100 assessed valuation which will net $6.4 million necessary to fund the revenue and expense gap.

The President and CFO both presented information about the 2012 budget, including revenue and expense assumptions, to the Board of Directors.

“This year’s revenue deficit is due to a combination of reduced federal, state and local income in addition to the loss of one-time funding options such as a shortfall appeal and use of the IndyGo capital match fund,” explains Mike Terry, President and CEO of IndyGo. “Our budgeted expenses are increasing more than $2 million due to expected increases in health benefits and fuel costs.”

With more than 50 people in attendance at the August 18 Public Hearing, the Board heard comments from passengers and advocates. The Board’s decision to incorporate the excess property tax levy was greatly influenced by the public’s desire to not increase fares or reduce service for fixed route and/or paratransit services, a budget balancing trend with most transit agencies across the country.

“Funding for public transit in Indianapolis is a long-standing problem,” says Terry. “Despite a 7.3% increase in ridership, we have become well-versed at adjusting operations to meet our limitations resulting from dwindling public revenue.”

The next steps with the City County Council:
• Monday, September 19 - IPTC budget introduced
• Tuesday, September 20 - IPTC budget presentation to the Municipal Corporation Committee and PUBLIC HEARING
• Monday, October 10 - Final budget review and action by Municipal Corporation Committee
• Monday, October 17 - City County Council’s approval of IPTC budget

All City County Council meetings on the proposed budget will be held at the City County Building, located at 200 E Washington Street, in the Public Assembly Room, at 7:00 p.m. All City County Council meetings are accessible via several IndyGo routes.

View the entire adopted budget.

About IndyGo:
IndyGo, the Indianapolis Public Transportation Corporation, provides public bus transit services to residents and visitors throughout Marion County. IndyGo is led by President and Chief Executive Officer, Mike Terry, and a seven-member, bipartisan board appointed by the Mayor of Indianapolis and the City-County Council of Indianapolis and Marion County. With 30 Fixed Routes and a Flexible Services Department, which includes an ADA-compliant paratransit service, IndyGo provides an average of nine million trips per year to our city’s workforce, students, seniors and visitors. Visit www.indygo.net or call 317-635-3344 for more information. Follow IndyGo on Twitter at IndyGoBus. Be an IndyGo Facebook Fan; search pages “IndyGo.”