The Port Authority’s 2014-15 fiscal year budget shows that operating assistance—money from the state and County governments that combine with passenger revenue and government operating grants—will be up $20 million over FY13-14. That is the result of the passage of Act 89, the transportation bill, by the state.
When we wrote about the passage of Act 89 earlier this year we asked a few questions that dealt with additional state aid the Governor promised in return for contractual savings, the County’s match responsibilities, and the inclusion of RAD dollars.
Here is what the Authority’s operating assistance portion of the balance sheet looked like in the past two fiscal years and the current one (values in millions):
|
|
2012-13 |
2013-14 |
2014-15 |
|
State |
$155 |
$162.8 |
$212 |
|
Additional State |
$30 |
$30 |
—- |
|
County |
$29.1 |
$29.1 |
$28.8 |
|
RAD |
$3 |
$3 |
$3 |
|
Total |
$217.7 |
$225 |
$244.3 |
The $30 million amount that came as additional state aid is now gone—that’s likely due to what PENNDOT stated when we wrote our Brief that the passage of Act 89 satisfied the Governor’s promise. Money is coming as operating and capital dollars, but the dollars can be shifted with PENNDOT’s approval. But in the operating assistance section state money is up $20 million over what the Authority received in FY13-14.
The County’s match comes from taxes on alcohol and car rentals and those taxes have been bringing in well above the amount needed for the 15% match. In FY14-15 the $28.8 million from the County, along with $3 million from RAD, provides $31.8 million, or 15% of the $212 million from the state. The RAD board expressed in 2013 when originally asked to make transit an asset that the Authority “…continue to find alternative, reliable, transit funding sources”.
