Bus

DART: Reduced sales tax forecast prompts review

Posted on March 25, 2010

Lagging sales tax receipts, resulting in lower long-term revenue forecasts in the 13 member cities, are prompting Dallas Area Rapid Transit (DART) to review all expenses including operations, administration and future capital projects, officials said.

"The current projection for sales tax receipts in fiscal year 2010 will be between $15 and $20 million below our original estimate of $387.8 million," said DART President/Executive Director Gary Thomas. "Combined with lower than anticipated sales tax receipts last year, and significantly reduced 20-year sales tax projections, we will have to evaluate all future expenses."

Updated 20-year sales tax projections provided by economist Ray Perryman show DART receiving approximately $3 billion less in sales tax income than the amount he projected as recently as May 2009. The revisions take into account not only the effect of the current economic downturn but, also, a comprehensive assessment of population and employment growth rates within the 13 member cities as compared to growth rates for the more rapidly growing emerging suburbs outside of the DART Service Area.

Thomas said the schedule for the planned bus purchase is not affected by the financial information. In addition, the DART Rail Green Line, and the Lake Highlands Station on the Blue Line, will open as scheduled in December 2010. The Blue Line extension from Garland to Rowlett will open as scheduled December 2012.

DART collected $378 million in sales taxes in fiscal 2009. The original sales tax projection for fiscal 2009 was $431 million and then revised downward to $385 million in May 2009.

To guide long-range planning DART develops 20-year financial and system plans. These two plans are reviewed and approved by the Board of Directors. Projects are not added to the system plan unless funding has been identified. The cost of designing, building, operating and maintaining the project is then included in the financial plan and divided according to the amounts needed in a specific year.

 

View comments or post a comment on this story. (0 Comments)

More News

FTA confirmed to speak on new bus testing rule, more at BusCon 2016

A Transit Maintenance Forum pass is $98 and includes the forum as well as access to BusCon’s full educational program, the exhibit hall full of buses, networking event at the Indianapolis Motor Speedway Museum and much more.

Forest River ranks Top 3 Spots in Ford's top volume accounts

Starcraft Bus, Elkhart Coach and Glaval Bus finished first, second and third, respectively.

Tripling of insurance premiums confronts bus drivers in labor dispute

The cost of Blue Cross Blue Shield of Michigan coverage for The Rapid drivers is proposed to spike 49 percent Oct. 1, pushing up monthly premiums for family coverage by $669.

CapMetro plan would nearly triple high-frequency routes

The changes recommended in the Connections 2025 draft plan would be implemented in phases over the next 10 years.

French bus operator becomes first in Europe to accept Bitcoin

Isilines, a new long-distance passenger transport division of Transdev Group, has been using Bitcoin as a method of payment alongside traditional credit card payments on its website since early August.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close