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Recommended FY 2025 Wake Transit Work Plan Update
Ben Howell, CAMPO Staff
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The Recommended FY 2025 Wake Transit Work Plan is under development and is expected to be presented to the Transit Planning Advisory Committee (TPAC) at their meeting on May 29th. The development and presentation of the Recommended FY 2025 Wake Transit Work Plan has been delayed due to the work of the Wake Transit Conference Committee, which will meet next on Monday, May 20, 2024. The Wake Transit Conference Committee is expected to provide guidance to staff on the amount of the regional vehicle rental tax revenue that will be included in the revenue assumptions for the Recommended FY 2025 Wake Transit Work Plan.
The expected adoption schedule for the Recommended FY 2025 Wake Transit Work Plan is as follows:
* May 29th - TPAC meeting to consider the Recommended Work Plan
* May 30th - June 12th: 14-day Public Comment Period for the Recommended Work Plan
* June 5th - GoTriangle Board of Trustees Committee consideration of the Recommended Work Plan
* June 6th - CAMPO TCC consideration of the Recommended Work Plan
* June 12th - CAMPO Executive Board Public Hearing and consideration of the Recommended Work Plan
* June 26th - GoTriangle Board of Trustees Public Hearing and consideration of the Recommended Work Plan
The Recommended FY 2025 Wake Transit Work Plan projects $140 Million of revenue from the 1/2 Cent sales tax, approximately $10 Million of revenue the Vehicle Registration Fees, and up to $5 Million of revenue from the Wake County portion of the Regional Vehicle Rental Tax, depending on the guidance of the Wake Transit Conference Committee. With the expected expenses (outlined below), the Recommended FY 2025 Work Plan may require $10 Million - $15 Million of Fund Balance.
The Recommended Work Plan includes a budget of $47.4 Million for operations. New and continuing operating projects include:
* Funding for the City of Raleigh and the Town of Cary for additional sa...
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