Comprehensive Annual Financial Report for the ... - WMATA.com

Washington Metropolitan Area Transit AuthorityFY 2009 Comprehensive Annual Financial ReportManagement's Discussion and AnalysisStatements of Revenues, Expenses, and Changes in Net Assets (Continued)RevenuesCurrent YearTotal revenues for fiscal year 2009 totaled $820.2 million. Operating revenues, which include passengerrevenue, totaled $745.3 million, an increase of $54.7 million or 7.9 percent as described below.Passenger revenue, a significant portion of the Authority's operating revenues, increased by $57.7 millionor 9.2 percent. The increase can be attributed to a mid-year fare increase effective January 2008 as wellas higher ridership, which reached record levels in fiscal year 2009.Metrorail ridership climbed to a record level of over 222.9 million annual trips for an increase of 3.7 percent.Metrobus ridership grew to 133.8 million annual trips resulting in an increase of 0.8 percent. Nationalcapital events, such as the 2009 Presidential Inauguration, which set historic ridership records, theIndependence Day Celebration, the Cherry Blossom Festival, and regional professional sporting eventscontributed to the increase in passenger revenue and ridership.A strong regional economy and the Authority's ability to attract and retain riders for the first three quartersof fiscal year 2009 contributed to higher transit usage. The effects of a weaker regional economy and theJune 22, 2009 rail car accident negatively impacted the fourth quarter. Passenger trips for the last threeyears are shown below:Passenger Trips(in thousands)35,00030,00025,000---=r-r-- r-.-1--;:: - ,..--- - -- - -r-- ..- r-r--I--- - I- -- ~- i--;: - I---20.000I--- - I-- - -I-- ~ - -I--15.000- I-- - I- - - l- f-- - l- I-10,0005,000I""I--- - I-- ~ - I-- I--FY07 .FY08 CFY09....I--- - I-- - -I-- ~ - I-- I--o'-'-15