A.G. Gancarski
The afternoon begins in the Lenny Curry Transition Team Budget marathon, as Chief Administrative Officer Sam Mousa leads a review of the Jacksonville Transportation Authority budget. It’s more of a holistic overview with Henry Li from the JTA.
1:17: This is different from the budget reviews, as the JTA Board has authority over the budget.
1:18: Budget guidelines. The budget supports strategic goals and objectives. The objective: “best in class” transportation solutions.
1:19: JTA has been “transformed to a much higher level through a host of strategic initiatives,” such as “route optimization initiatives,” and “road projects,” financed via bond issuance.
1:22: As Li goes through his presentation, Mousa checks his phone.
1:22: They are converting diesel buses, also.
1:23: “Strive for excellency.”
1:24: “Enhance revenue potential.” They are taking advantage of the bond rate.
1:24: A system is being developed to tell “customers when their bus will come.” They’ve “reduced inventory items,” saving $250,000.
1:25: There are employee courses available; more than 600, to allow them to “learn and grow.” They’ve also gotten federal money for a bus simulator, which allows drivers to learn to drive buses.
1:26: Mousa’s asking him to speed up so there is time for Q & A.
1:27: Financial performance. More than 90 percent of their pension liability is covered.
1:27: Funding sources. Field revenue, grants, and gas taxes.
1:28: Revenue assumptions. They locked in a low diesel price for next year.
1:30: Budget increase is 2.18 percent without the Ferry; with the Ferry, it’s 4.3 percent. Enhancements are driven mostly by implementation of the Oracle system. Debt service will be $5M more than next year.
1:35: Discussion of the Ferry. Revenue is $1.3M. The Feds give $900,000 operating grants, over next two years. The total operating expense. JTA funds the balance of the operating costs with the local option gas tax.
1:39: JTA has a five year plan. They are fiscally sound. Capital improvements planned of $330M over five years are 85 percent grant funded.
1:40: A discussion of the gas tax continues. There is a 3 percent revenue increase per annum. Currently, it is around $1.3M per year.
1:44: Mousa wonders if they can do without the General Fund contribution, given how well they are doing otherwise. Starting in September 2016, the state will give the JTA $2M more per year.
1:46: Looks like the JTA will take over the Mayport Ferry in October of this year.
1:48: They are trying to negotiate the costs of repairs to the ferry down, to mitigate risk of financial shortfall. As well, pursuit of grants.
1:49: Mousa has more questions, but they are “too detailed for this setting.” This is a wrap.
Looks like, though, the Mayport Ferry will be cut from the COJ budget, given this today.
