Budget work is officially complete for the Denton County Transportation Authority’s 2014 fiscal year.
Board members unanimously approved the budget during Thursday’s monthly meeting, setting the course for increased services and continued financial stability for the agency in the future.
The budget included $25.1 million in operating expenses, an increase of a little more than 10 percent over last year; $2.4 million in debt service; and $29.1 million in projected revenue, an increase of 8 percent over last year.
“One thing I think is key about the budget — it is structurally sound. Current-year expenditures are being paid with current-year revenue and [we] actually exceed reserves requirements set out in agency policies,” said DCTA President Jim Cline.
The agency is set to move forward with the plan laid in place for years and continue to improve service, he said.
DCTA board President Charles Emery said the budget was thoroughly vetted before the vote Thursday.
“We had three or four finance committee meetings and great participation from the whole committee [and] others there,” he said. “I just think we’re blessed with great support from our cities. I feel like we’re being good stewards of those funds. This budget reflects the partnership we have with the cities and I think it’s a good budget.”
Emery said the budget process is one the agency is used to at this point, making it run smooth with little to no issues.
“We’re a mature agency,” he said, adding that budgets are always intensive efforts to make sure that things are fairly reasonable and workable. “I’m glad we’ve gotten it done and I appreciate the input of staff and board in that process.”
The new fiscal year starts Oct. 1.
BJ LEWIS can be reached at 940-566-6875 and via Twitter at @BjlewisDRC.