Community Transit financial documents are provided to give easy access to important information about agency revenues, expenditures
The Community Transit Board of Directors approved the 2018 Budget on Dec. 7, 2017. That budget continues to deliver on the agency's promise to provide more service, more often to more places. While the approved budget document is being finalized, there are no substantive changes from the 2018 Proposed Budget v2 (PDF).
The 2018 Budget allocates agency resources to strategic priorities, including those initiatives to support service expansion, and ensures adequate reserves to protect customer services in the event of an economic downturn.
This budget projects a 9 percent increase in sales tax revenue over 2017 while expenditures are projected to grow at 5.5 percent.
Funding will go towards:
The 2018 Budget assumes operating revenue of $184 million, including operating expenses of $142 million and $59.5 million for capital projects.
The annual adopted budget provides detail of Community Transit's plans and projections for the current fiscal year. This includes agency operating revenue, department-level expense budgets, capital projects and other non-operating activity. The Board of Directors adopts an annual budget in December of the preceding year. Each spring, the board adopts an amended budget updating that year's projected revenues and expenses.
Comprehensive Annual Financial Reports (CAFRs) provide audited financial information for past years, including financial statements, grants, key performance indicators, comparative financial information and economic data. Each spring, the agency publishes the previous year's audited CAFR.
Community Transit's primary funding comes from a voter-approved 1.2 percent sales tax within the service district. That’s 12 cents of every $10 taxable purchase.
Sales tax revenue typically accounts for 65 to 70 percent of Community Transit’s operating budget. Rider fares account for about 20-25 percent of the operating budget, and grants,
Source: 2017 Budget