A proposed $57 million budget for 2012 has been introduced by the Indianapolis Public Transportation Corp. Board of Directors.
The seven-member bipartisan board will review the proposed financial plan, including comments from the community at a public hearing scheduled for Aug. 18 at 5 p.m. at IndyGo’s headquarters, 1501 W. Washington St.
Highlights of the proposed budget include:
• Budgeted expenses of $57 million.
• Projected revenue shortfall of approximately $6.4 million.
• Gap analysis includes shortfalls in federal, state and local funding, a loss of one-time funding, and fuel increases.
The IPTC board will review all its available options to address the budget shortfall including excess levies, service reductions (Fixed Route and Open Door), fare increases and the use of capital funds.
Upon final adoption by the IPTC board, the budget will be given Aug. 31 to the City-County Council for review and approval.
