INDIANAPOLIS (Aug. 5, 2014) – IndyGo introduced its proposed 2015 budget at the board of directors meeting Monday night, kicking off a series of public meetings on the financial plan.
“Our annual operating budget for 2015 is balanced,” says Michael Terry, president and CEO of IndyGo. “Although healthcare and fuel costs are rising nearly 10%, our operational efficiencies are allowing us to increase our budget by only 1% over 2014.”
Highlights of the proposed 2015 budget include:
- Total budget of $66.7M
- Increased revenue from fares due to rising ridership
- Service levels and fare structure to remain at current levels
- $11M in federal capital grants to subsidize operating costs
- Projected increase in costs for healthcare, fuel and wages
Members of the public interested in learning more about the proposed 2015 budget can attend a public hearing on Thursday, Aug. 14 at 5 p.m. The meeting will be held at IndyGo’s administrative offices, located at 1501 W. Washington St, accessible via Route 8 – Washington Street or Open Door. Comments voiced at the public hearing will be reviewed by IndyGo and taken into consideration before final approval at the Aug. 28 board of directors meeting.
Upon board approval, IndyGo’s budget will move through the City-County Council budget approval process for municipal corporations. Details of the financial plan, including the full budget and all meeting dates are available at IndyGo.net.
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. On its 31 local service fixed routes IndyGo provided 10.2M passenger trips in 2013. Visit IndyGo.net or call 317.635.3344 for more information. Find IndyGo on Twitter @IndyGoBus or Facebook by searching pages “IndyGo.”