City of Cincinnati

Fund 455 Streetcar Operations Fund Projection

For Fiscal Year 2020 Preliminary, Assumes Amended SORTA Budget

FY 2018 FY 2019 FY 2020 Notes

Budget Approved Sorta Request

Beginning Balance Fund 455 $ 2,018,458 $ 1,135,458 $ 684,997

Streetcar Revenue:
Streetcar Fare Box 444,789 406,138 323,834
Sponsorship/Naming Rights 629,600 901,000 300,571 Does not include $444K for station advertising, SORTA to Provide 5/16
FTA Grants - 196,379
Total Streetcar Revenue 1,074,389 1,307,138 820,784

Other Sources:
Incremental Parking Meter Revenue 1,500,000 1,500,000 1,500,000
VTICA 36,000 130,000 340,000 Dan Bower updated via email on 2/19/19
Haile Foundation 900,000 900,000 900,000
Misc.: Reimbursement Prior Yr. Exp
Total Other Revenue Sources 2,436,000 2,530,000 2,740,000

Total Sources 3,510,389 3,837,138 3,560,784

Estimated Operating Costs:

TransDev Contract 3,301,791 3,450,306 3,593,573 Per TransDev Contract, if penalties continue, savings of up to $396K
SORTA Direct Costs 393,519 190,584 527,604
SORTA OVERHEAD 264,143 276,026 287,486 8% of TransDev Contract
Total SORTA Costs 3,959,453 3,916,916 4,408,663

City Direct Costs 337,936 481,352 445,018 FY 2020 Projected in CBS less Parking Enforcement

City Additional Costs Parking Enforcement 96,000 74,328 72,772

Total City Costs 433,936 555,680 517,790

Total Expenditures 4,393,389 4,472,596 4,926,453

Surplus (Deficit) (883,000) (635,458) (1,365,669)

End of Year Fund 455 Balance $ 1,135,458 $ 500,000 $ (680,672)

Fund Balance as % of Revenue 32.35% 13.03% -19.12%

Notes:
Haile Foundation Support is $900K/yr for 10 years per contract
City Pledged $1.5M from meter revenue (201400196)
VTICA estimates are updated based on revised projections as of 2/28/19