RTC approves $767.3M budget for next fiscal year
The Regional Transportation Commission of Southern Nevada on Thursday adopted a $767.3 million spending plan for the 2018-2019 fiscal year that calls for purchasing vehicles, building bus shelters and completing several road improvement projects.
The transit agency’s budget, set to start July 1, represents a 15 percent spending decrease from the past year because of $135 million less being budgeted for roadway projects, RTC Finance Director Marc Traasdahl said.
About $397.6 million — accounting for 52 percent of expenditures — will go toward capital projects, including roadwork and bus operations. About $2.5 million will pay for bus shelters and safety enhancements.
Plans also call for buying 15 new 40-foot buses for $8.8 million, 40 new 60-foot buses for $36.3 million and 50 new paratransit buses used by disabled riders for $5.7 million, Traasdahl said.
The RTC is projected to generate $578.2 million in revenue, with 37 percent of the money coming from the local sales tax, 18 percent from grants, 17 percent from fuel revenue indexing, 13 percent from the motor vehicle fuel tax, 11 percent from bus fares, 1 percent from aviation fuel tax and 3 percent from “other funds.”
The fuel revenue indexing tax, which was extended by Clark County voters in November 2016, stands at 10 cents, Traasdahl said. The RTC receives 8.8 cents of that tax, while the remaining 2.2 percent is split between the county and cities.
Traasdahl said the transit agency’s budget will be balanced with either cash reserves or a carryover of funds from the current fiscal year.
Contact Art Marroquin at amarroquin@reviewjournal.com or 702-383-0336. Follow @AMarroquin_LV on Twitter.
RTC $767.3 million spending plan for fiscal 2019
Capital Projects: $397.6 million
Contracted Services: $237.7million
Debt Service: $90.6 million
Salaries and Benefits: $41.4 million
Source: Regional Transportation Commission of Southern Nevada
