Updated in December 2022
Total system-generated revenue was $24.1 million, or 5.3%, favorable to the amended budget through October, as each mainline Service Board reported favorable to budget results. Due to lagging ancillary revenue caused by the delayed re-start of RTA certification trip reimbursements, Pace ADA Paratransit’s system-generated revenue finished 17.2% unfavorable to budget. Year-to-date system ridership through October finished close to the amended budget at 0.4% favorable, with 238.5 million rides provided throughout the region. The Service Boards continue to keep operating expenses under control resulting in a combined $206.2 million, or 8.0%, overall operating cost savings relative to budget.
The strong expense performance combined with favorable operating revenue resulted in favorable to budget operating deficits for each Service Board and ADA Paratransit. The operating deficit for the region as a whole was favorable to budget by $230.3 million, or 10.8%. Pace Suburban Service and ADA Paratransit had the most favorable operating deficit results due to more favorable expense performance relative to budget.
Total public funding through October was $32.4 million, or 2.0%, favorable to the amended budget, with favorable sales tax results offset by lower than anticipated relief funding requisitions at Pace. RTA sales tax collections continued to show strength as August results came in at $134.7 million, surpassing the amended April funding projection by 4.5%. Year-to-date PTF and RETT receipts were 4.5% and 2.2% favorable to budget, respectively. The region has drawn down 43.0% of the total available federal relief funding through October, with the remaining $2.018 billion expected to last through most of the 2025 RTA fiscal year.
The system-wide net result of negative $20.9 million was $15.1 million or 0.6% unfavorable to budget through October due solely to lower than anticipated relief funding drawdowns. The year-to-date regional recovery ratio of 46.4% was 1.0 percentage points below the amended budget.