operating revenue summary

pie charts Passenger Revenues – For the first time in 14 years CDTA raised its base fare. This, in addition to increased ridership, will account for the significant increase in passenger revenue.

Mortgage Recording Tax – MRT collections totaled over $14.8 million in fiscal year 2006. Since then we have seen a significant reduction in MRT collections each year. While we still hope to end FY2009 with $11 million in MRT, it seems unlikely at this point. Accordingly we have reduced this revenue line by $1 million. Given the current local and national economies, we expect this figure to drop further next fiscal year.

Operating Assistance – The reduction in operating assistance is attributed to the expected 11% decrease in state operating assistance. We used more Federal capital dollars to partially compensate for the loss.

Rail Station Income – Along with our fare increase, parking rate increases went into place for the beginning of fiscal year 2010 at the Rensselaer Rail Station. With ridership on the Albany to New York City route consistently ranking in the top 15 for Amtrak, we expect a significant increase in parking fare collected.

85 Watervliet Ave – CDTA acquired more space “up the hill” at 85 Watervliet Ave. This building houses our consolidated call center and operator training personnel. Rent from existing tenants will provide CDTA with an additional source of revenue.

Interest - CDTA expects a decrease in interest revenue associated with the general downturn in the economy.

Transfers from Reserves – CDTA has exhausted excess reserves. We will not be able to cover operating expenses with this fund source in the foreseeable future.