FY 2013 Operating and Capital Budget - Metro Transit

JARC grants include anticipated revenues from Job Access and Reverse Commute
Programs. This funding is expected to be $772.6 thousand for FY 2013.
Non-Capital federal assistance grants administration and Other Federal assistance
anticipated funding is expected to be $1.2 million for FY 2013.
Non-Operating Revenue (Expense)
Investment income, which includes interest earned on invested funds, is expected to remain
low in FY 2013 due to unattractive money market rates.
Capital lease revenue and expense recognize the revenue and expense associated with
capital leases. The revenue and expense offset exactly. For FY 2013, these amounts are
$5.2 million in both revenue and expense.
Interest on debt results primarily from interest paid on bonds issued to finance the Cross
County expansion, and reflects the refinancing of Series 2005 bonds at lower interest rates.
Sheltered workshop expense is 2% of the Missouri ½ cent sales tax and is budgeted at $1.1
million in FY 2013. This expense is remaining nearly the same as the FY 2012 projection.
Depreciation and Amortization
Depreciation and amortization in public transit systems is generally not funded by
operating income, which is different than private industry that must generate profits for
purchase/replacement of property and equipment. Depreciation is presented as required
by generally accepted accounting principles. Depreciation is not funded to provide
equity for capital replacements because such capital assets are predominately funded by
federal grants. For FY 2013, depreciation is expected to decrease 4.5% compared to the
FY 2012 projection as a result of minimal capital spending and maturing assets.
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