1. FY2020 Tentative HART Budget – Revenue Overview
HART Finance and Audit Committee
June 17, 2019

2. Presentation Highlights
Budgetary priorities for FY2020
Existing service revenue projections
Sales tax revenue projections
Preliminary expenditure planning
Next Steps

3. Budgetary Priorities for FY2020
Balanced FY2020 Budget
Stewardship of Sales Tax Revenue
Capital Program Development
Cash Flow and Reserves
Increases in Cost of Doing Business
Service Enhancements
Innovative Mobility Solutions

4. FY2020 Operating Revenues (without sales tax)
$2,800,000 net increase in FY2020 budget
9% growth in Ad Valorem - $4,000,000
Modest 3% fare revenue increase - $335,000
State grant revenues net decrease: $411,000
Loss of Route 48 funding $293,000
Loss of Route 275LX funding $1,093,000
Award of Uptown on-demand service funding $270,000
Award of Downtown on-demand service funding $615,000
Increase in Block Grant $90,000
Local contributions decrease $1,475,000
Loss of County support for Mission Max routes $2,300,000
County and PPP support of Uptown on-demand service $825,000

5. FY2020 Operating Revenues (without sales tax)
* net of dropping $3M+
increase to fund balance
*net of $3M contribution to fund balance
$81,724,589

6. New Sales Tax Revenue 30-Year Capacity
Collection initiated in January; HART received first distribution in April
Collections to date: $28 million
Held in reserves until CY2020
Total estimated 30-year sales tax collections (all jurisdictions):
$14.6 billion
30-Year estimated capacity of HART’s 45% allocation:
$6.5 billion
Average growth rate of 3.27% annually
Note: estimates based HART PRAG analysis and align with earlier MPO LTRP estimates

7. New Sales Tax Revenue 30-Year Capacity
30-year estimates by Charter allocations:
45% for Enhancing Bus Service:
$2.9 billion
35% for Fixed-Guideway:
$2.3 billion
20% for Any Project to Improve Public Transportation:
$1.3 billion

8. FY2020 New Sales Tax Revenue
Annual State forecast:
$135.9 million
Currently trending:
$124.2 million
Estimated Annual Interest earnings:
$2 million
FY2020 Budget will include FY2019 full year collections; 9 months of CY2020 collections due to revenue on a Calendar Year basis
Fiscal Year
Enhancing Bus Service
45%
Expanding Public Transit Options (FG)
35%
Remaining Funds – Improvement of Public Transportation
20%
Total
2019
$55.89M
$43.47M
$24.84M
$124.2M
2020
(9 months)
$42.49M
$33.82M
$19.33M
$96.65M

9. FY2020 New Sales Tax Revenue
Total FY2020 Budgeted Revenue $220,875,131
* net of dropping $3M+
increase to fund balance

10. FY2020 Preliminary Sales Tax Centric Expenditures
IOC Program of Projects due prior to September, 2019
Board will consider in August
Basis for budgeting expenditures supported by sales tax revenue in FY2020
Preliminary Sales Tax Centric Expenditures
Operating
FY2018/FY2019 Hillsborough County Funded Service (7 current routes)
FDOT defunded 275LX
Mobility circulator services (Downtowner/Uptowner/Westshore)
Advance and support of 5-year TDP (enhancement of 8 routes; 1,129,054 additional miles)
Rail corridor and fixed-guideway studies
Capital
State of Good Repair back-log
Facilities/real property acquisition
Fixed-Route CNG buses
Proterra electric buses and infrastructure
Farebox replacement (to compliment Flamingo deployment)
Bus shelter infrastructure
Paratransit vans
Non-revenue vehicles
* net of dropping $3M+
increase to fund balance

11. Next Steps
July 1st – Final Certification of property values provided by Property Appraiser
July 15th – Board to consider Tentative FY2020 millage rate
August 5th – Board to consider IOC Program of Projects
August 19th – F&A Committee to consider Preliminary FY2020 Operating and Capital Budgets
September (TBD) - Public Hearings on Fiscal Year Millage Rate And Annual Budget