07 CAFR cover FINAL.p65 - WMATA.com

Washington Metropolitan Area Transit AuthorityFY 2007 Comprehensive Annual Financial ReportManagement’s Discussion and AnalysisStatements of Revenues, Expenses, and Changes in Net Assets (Continued)RevenuesCurrent YearTotal revenues for Fiscal Year 2007 totaled $744.9 million. Operating revenues, which include passengerrevenue, totaled $625.1 million, an increase of $17.6 million or 2.9 percent as described below.Passenger revenue, a significant portion of the Authority’s operating revenues, increased by $8.1 million or 1.5percent. The increase can be attributed to higher ridership, which reached record levels in Fiscal Year 2007.Metrorail ridership climbed to a record level of over 207 million annual trips for an increase of 1.1 percent.Metrobus ridership grew to 131.5 million annual trips resulting in an increase of 0.5 percent. Sporting events,such as the Washington Redskins and the Washington Nationals home games, and national capital events, suchas the Independence Day Celebration and the Cherry Blossom Festival, contributed to the increase in passengerrevenue and ridership. Additionally, record gas prices and construction or closure of several main roadwaysleading into the District of Columbia also attributed to the increase in annual trips.A strong regional economy and the Authority’s ability to attract and retain riders contributed to higher transitusage. Passenger trips for the last three years are shown below:Passenger Trips(in thousands)35,00030,00025,00020,00015,00010,0005,000FY05 FY06 FY070JulyAugustSeptemberOctoberNovemberDecemberJanuaryFebruaryMarchAprilMayJune15