Fiscal Note
In 2005, the City declared four "fare free" Clean Air Action Days. Metro's estimated loss of revenue for each day is $3,200, derived from 2004 experience in daily summer cash and ticket fares. Four days' of estimated revenue loss to Metro totals $12,800. This Resolution proposes an appropriation from the Contingent Reserve to Metro in the amount of $12,800. The currently available balance of the Contingent Reserve is $599,900.
Title
Authorizing a budget amendment appropriating $12,800 from the City General Fund Contingent Reserve to the Transit Utility for the provision of four "fare-free" Clean Air Action Days as requested by the City during 2005.
Body
WHEREAS Metro operates on a Fare Tariff established by the Transit and Parking Commission and "fare-free" Clean Air Action days declared by the City cannot be provided without reimbursement by the City;
WHEREAS subsidizing other programs, no matter how worthy, places a burden on the transit system at the expense of transit patrons;
WHEREAS the City requested Metro Transit to provide four "fare-free" days on Clean Air Action Days in 2005 and agreed to reimburse Metro in the amount of $3,200 for each such Clean Air Action Day in 2005;
WHEREAS Metro Transit agreed to provide "fare-free" days on Clean Air Action Days declared by the City in return for reimbursement in the amount of $3,200 for each such Clean Air Action Day in 2005;
NOW THEREFORE be it resolved that the Comptroller is authorized to transfer $12,800 from the General Fund Contingent Reserve to Metro Transit for the aforesaid purpose in 2005.