Published August, 10 2011

For Immediate Release

IndyGo’s 2012 Budget Process Begins

Indianapolis, IND (August 5, 2011) – In last evening’s IPTC (Indianapolis Public Transportation Corporation) Board of Directors’ meeting the 2012 budget was presented. The 7-member bipartisan board will have nearly the entire month to review the proposed financial plan, including comments from the community at a public hearing scheduled for Thursday, August 18 at 5:00 p.m. at IndyGo’s headquarters.

Highlights of the proposed budget include:

• Budgeted expenses of $57 million
• Projected revenue shortfall of approximately $6.4 million
• Gap analysis includes shortfalls in federal, state and local funding; loss of one-time funding; fuel increases

IndyGo’s budget constraints are not new to the corporation. With year-to-year uncertainty regarding revenue streams, the IPTC Board will review all its available options to address the budget shortfall including excess levies, service reductions (Fixed Route and Open Door), fare increases, and the use of capital funds.

Upon final adoption by the IPTC Board of Directors, the budget will then be given to the City County Council for review and final approval.

The IPTC budget process/timeline:

• August 4, 2011 – Proposed budget introduced to IPTC Board of Directors
• August 18, 2011 – Public Hearing – specifically for 2012 budget input
• August 29, 2011 – Final IPTC Board of Directors adoption of budget
• August 31, 2011 – IPTC files adopted budget with City County Council
• September 19, 2011 – IPTC budget introduced at City County Council, Public Hearing
• October 10, 2011 – Municipal Corporation Committee final budget review & recommendation
• October 17, 2011 – City County Council approval of IPTC budget

The proposed budget plan can be downloaded here.

All IPTC Board meetings are held at 1501 W. Washington Street and City County Council meetings are conducted in downtown’s City County Building on Market Street.

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 29 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.”

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