MST Operating and Capital Budget FY 2025 Summary

The MST Operating and Capital Budget for FY 2025 focuses on maximizing revenues, increasing bus advertising rates, promoting transit services, seeking grants for capital projects, and maintaining stable staffing levels. The budget priorities also include operating a Better Bus Network at Board-adopted levels. Revenues for FY 2025 include a variety of funding sources such as federal operating funds, local transportation fund, passenger fares, advertising revenue, and more. Expenses primarily consist of labor and benefits, services, fuel, parts, supplies, utilities, insurance, leases, purchased transportation, among others.

• Budget
• Operating
• Capital
• Revenues
• Expenses

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1. MST Operating and MST Operating and Capital Budget Capital Budget FY 2025 FY 2025 FY 2026 FY 2026 Prepared for: MST Board of Directors MST Board of Directors Prepared by: Lisa Rheinheimer, Assistant General Manager Andrea Williams, Finance Manager

2. Outline Outline FY 2024 Year End Forecast FY 2024 Year End Forecast FY 2025 Operating Budget Priorities FY 2025 Operating Budget Priorities FY 2025 Operating Budget Revenues and Expenses FY 2025 Operating Budget Revenues and Expenses Service Operations Highlights, Economic Impact Service Operations Highlights, Economic Impact FY 2025 Capital Improvement Program FY 2025 Capital Improvement Program

3. FY 2024 FY 2024 Year End Forecast Year End Forecast Revenues +$56,718,850 Expenses $53,224,500 Surplus +$3,494,350 Unrestricted reserve +$46,321,184 Note: Forecast as of June 30, 2024. Does not include capital.

4. FY 2025 FY 2025 Operating Budget Priorities Operating Budget Priorities Maximize revenues Increase bus advertising rates Promote transit services Seek grants for capital projects Continue fares at existing rates, no increases Foster and maintain partnerships Operate Better Bus Network at Board-adopted levels Continue stable levels of staffing

5. FY 2025 FY 2025 Operating Budget Revenues Operating Budget Revenues FY 2024 in $M FY 2024 in $M FY 2025 in $M FY 2025 in $M % Change % Change Description Description $0 $4,399,430 $4,399,430 NA SB 125 funding $ 11,749,850 $ 11,765,850 0.14% Federal operating funds $ 26,315,500 $ 26,441,340 0.48% Local Transportation Fund, State Transit Assistance $ 12,900,000 $ 13,200,000 2.33% Measure Q for mobility programs, paratransit operations $ 381,500 $ 365,400 -4.22% Partnership revenue for Monterey Trolley, EcoSmart Pass $ 5,372,000 $ 4,639,120 -13.64% Passenger fares, advertising revenue, other (interest) $56,718,850 $56,718,850 $56,411,710 $56,411,710 - -0.54% 0.54% Revenue Total Revenue Total (does not include unrestricted reserve or SB 125 funding)

6. FY 2025 FY 2025 Operating Budget Expenses Operating Budget Expenses FY 2024 in $M FY 2024 in $M FY 2025 in $M FY 2025 in $M % Change % Change Description Description $30,211,000 $ 33,954,400 12.39% Labor and benefits $ 3,465,000 $ 4,070,790 17.48% Services $ 5,005,000 $ 6,141,510 22.71% Fuel, parts, and supplies $ 4,062,500 $ 4,734,440 16.54% Utilities, insurance, leases, and other $10,481,000 $11,910,000 13.63% Purchased transportation $53,224,500 $53,224,500 $60,811,140 $60,811,140 14.25% 14.25% Expenses Total Expenses Total

7. Service Operations Highlights Service Operations Highlights Medium scenario of Better Bus Network Circulator service in Greenfield, Soledad, and Gonzales New 10-year contract for Monterey Trolley service Continue School Pass Program, subsidized vanpools Continue free fare zone in Pajaro through December 2024 Launch BOGO and free bus pass promotion with last of CARES act funding

8. Economic Impact Economic Impact MST Local Economic Impact FY 2025 Operating and Capital Budget 180 160 20.07 20.07 140 46.31 46.31 120 100 $166.18 M 80 12.66 12.66 6.97 6.97 20.03 20.03 20.12 20.12 60 99.8 99.8 $84.20 M $78.37 M 40 51.51 51.51 51.28 51.28 20 0 Labor Income ($M) Added Value ($M) Total Output ($M) Direct Effect Indirect (Supplier) Effect Induced (Income Respending) Effect

9. Capital Improvement Program Capital Improvement Program MST Major Capital Projects in FY 2025: $46.7 M Funded, $26.5 M Unfunded SURF! Busway and Bus Rapid Transit Project Salinas Operations and Maintenance Facility Project Zero-emissions Vehicles, Charging Units Paratransit Vehicle Replacements Facilities, IT, Other Support Equipment

10. Questions? Questions?