Board of Directors Regular Meeting Agenda


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Meeting Date: 02/26/2014  

SUBJECT MATTER:
Receive, consider and act upon a Transportation Fund budget amendment;
FISCAL IMPACT:
See attached
BACKGROUND:
Due to data not being available at the time the 2014 budget was adopted, the current budget does not include a Transportation Fund wherein all transportation-related revenues and expenditures are recorded. Various revenues and expenditures for the trolleys, waterway cruisers, transit consultant, transit initiatives and other miscellaneous items are recorded in different departmental budgets throughout the consolidated financial statements. Revenues and expenditures related to the Park and Ride program are not reflected at all.

Now that the Township has more solid projections regarding transportation-related revenues and expenditures, a 2014 budget amendment creating a dedicated Transportation Fund is recommended. This fund will capture all applicable financial transactions to facilitate the FTA grant process and annual audit as well as aid in accurate program analysis. A worksheet projecting the various revenue and expenditure components for the proposed 2014 Transportation Fund is attached for the Board’s review.
RECOMMENDATION:
Approve 2014 Transportation Fund Budget Amendment as presented.
Attachments
Tran Fund Budget
Deferral


    

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