If you think that the fares we charge cover the cost of delivering the service, you will be in good company and wrong.
The proposed budget to deliver transit service in 2011 is $22.2 M. It was $20.7 M in 2010.
The increase in the 2011 is due to increases in variety of elements including fuel, utilities and compensation as well as the opening of the new Transit Terminal, which accounts for about $200,000 of the increase.
In 2010, this is where the money came from:
Riders (and other sundry revenue) 43% ($9.0M)
Municipal property taxpayers 43% ($8.9 M)
Provincial Gas Tax 14% ($2.8 M)
In 2011, this is what is being proposed:
Riders (and other sundry revenue) 46% ($10.1 M)
Municipal property taxpayers 41% ($9.2 M)
Provincial Gas Tax 13% ($2.9 M)
The increase in percentage from riders is primarily due to higher fees for the U-Pass program ($700,000) with a small proportion ($200,000) from the general fare increase being proposed.
The fares being proposed for 2011 appear in a posting a couple of days ago.