Whether you use transit in Oklahoma City or not, there are many ways that public transit supports the Greater Oklahoma City area. Public transit reduces traffic congestion, helps to improve the air quality, stimulates the economy, and provides an essential lifeline to many seniors, youth and the disabled.
One of the biggest issues facing our region is how to effectively fund and provide an affordable public transportation system that is responsive to the diverse demands of the metropolitan area.
METRO Transit's Five Year Budget History
FY 10-11
|
|
$21,359,469 |
FY 09-10
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$21,712,940
|
FY 08-09
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$22,672,770 |
FY 07-08
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$20,598,573 |
FY 06-07
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$19,041,675 |
Funding Sources
Generally, transit funding comes from a variety of sources, including passenger fares, local tax revenue (general fund) and state and federal governments. Many federal grants require local entities to provide some matching funds.
Many people believe the costs of running a public transit system are recovered by passenger fares. While passenger fares don’t cover the operating cost of the transit service, they’re an important source of revenue.
The ratio between the passenger fares paid and the operating cost is called the “farebox recovery” ratio. Bus transit agencies typically have a farebox recovery ratio less than 15%, which means that 15% of the operating cost comes from passenger fares, and 85% is funded by other sources.