By: Diane Benjamin
Connect Transit did show a 10.5% increase for October in fixed route boarding per hour!
Unfortunately, 10.5% is an increase of 2.4 people.
PDF page 12: https://drive.google.com/file/d/1fCvCpZaHKD0VP2ihG3uOL8t0OlsOZEQZ/view
PDF page 8:
Operating Revenue of $130,684
Operating Expenses of $1,021,598
Loss for October: $890,914
YOUR tax dollars are covering that loss!
PDF page 37 claims this fiscal year they have served 864,188 customers. I believe they mean that many people boarded a fixed route bus. The number means nothing since every boarder forced to change buses is counted twice. They are counted twice again for the return trip. With many charts and statistics included at the link above, one would think the ACTUAL number of people who use the bus would be easy to obtain.
The joke is on taxpayers!
One more:
PDF page 9 shows the Capital Account has loaned $2,980,249 to the operating fund. It’s poor management when that happens because capital funds are a savings account for big-ticket items in the future.
PDF page 7 shows at the end of October they had cash of over $7 million. Was the loan repaid? I bet it wasn’t, taxpayers are always there to fleece when needed.
Arena, Connect Transit, BCPA, GTG, UPTOWN, etc. IF an accountant were to look at all these losses SERIOUSLY, they would be in total disbelief and wind up in the funny farm by noon!!
THIS is NOT sustainability! This is spending run AMUCK!!
Contract your DC rep and tell them to knock it off! The GOP is anything but fiscally responsible.
This is a lot of money! I could think of some better uses for this money. Smart leadership would be looking for alternatives to Transit Disconnect…. If we had smart leadership of course…. which we don’t.
Looks like a desperate move, borrowing from the capital account to pay operating expenses. This is especially troubling given (Dis)Connect Transit operates in a capital-intensive industry. Big expenses are much more common in an organization with equipment in the hundreds of dollars. Don’t worry, Koos and Renner will spend our taxpayer money to pay a consultant to get a TIGER grant to pay for larger expenses when they come up now that it seems the well is going dry. This is unsustainable!
Yes borrowing from a capital account for operating expenses is a sign….. not a good sign… this a desperation move for a private company. But when you have tax payer pockets to pick, maybe it’s no big deal?
They borrowed it a while ago, it’s very disturbing to not pay it back
Diane – The supporters of Connect Transit alleged that the cost is minimal to the community because it’s paid for by the federal government. (Flawed logic, I agree.) That notwithstanding, can you explain the big picture breakdown between federal funding and local funding? I get the sense Bloomington and Normal are a financial backstop to cover cost overruns but remain unsure. Some percentage and dollar figures would help. Thanks!
Bloomington gave them $50,833 – Normal gave them $32,500. Illinois gave them $656,867, probably from the feds. Something called FTA 5307 chipped in $135,744
Dont reside in Bloomington, but I do wonder, should the Chairman of the Bloomington Planning Commission have passed a petition for a City Council Seat candidate ?
Because the cabal is small. They only win because most voters stay home,
Any chance those two new riders are Koos and Renner? Maybe Koos, since he’s waiting for his Rivian to arrive.
That’s an average of 2.4 boardings PER REVENUE HOUR. You failed to make that point.
TWO people is impressive! NOT