RTC board approves $594 million budget

By Kyle B. Hansen

Thursday, May 20, 2010 | 1:40 p.m.

The board of the Regional Transportation Commission of Southern Nevada approved the agency’s $594 million budget during a public hearing Thursday.

About half of the budget goes toward operating the commission, its transportation services and servicing debt, while about $296 million goes to capital projects.

Director of Finance Marc Traasdahl said the commission expects revenue to be up slightly in the next fiscal year, but only because of an increase in fares charged to transit riders.

The commission generates revenue from taxes on fuel, sales and jet aviation fuel. Income from those three taxes was down in the 2010 fiscal year, but Traasdahl said he expects the taxes to generate the same amount next year as they did this year.

Revenue from the farebox was up 11.7 percent in fiscal year to $61.7 million and is expected to be up another 2.4 percent next year to $63.2 million.

The increase is largely due to an increase in fare rates and in the number of premium services offered by the commission, including the ACE and ACExpress rapid bus routes and the Deuce on the Strip.

The RTC board also approved a resolution asking the Clark County Board of Commissioners to issue $270 million worth of highway improvement revenue bonds.

The bonds would be paid with a 1/8th-cent sales tax extended by the Legislature during a special session earlier this year.

The funds from the bonds would be used for transit projects throughout Clark County, including construction of the North Fifth Street interchange at the Las Vegas Beltway.

Board members praised the RTC’s efforts to create construction jobs, both through the bonds and through the commission’s regular budget.

“This really is about job creation, and our economy needs jobs created today,” said Las Vegas City Councilman Steven Ross, who is a member of the RTC board.

Funds from the bonds would be available for projects in August, RTC officials said.

The board also approved a list of community groups that will receive Job Access Reverse Commute and New Freedom funds from the federal grants. The funds go to expanding transit services to low-income residents and to people in rural areas who need access to employment.

At the beginning of Thursday’s meeting, the RTC board helped give away 40 laptops and backpacks to graduating Clark County School District students.

The 40 students honored at the meeting participated in a contest sponsored by Coca-Cola, which donated the laptops and backpacks.

More than 50 students submitted essays on how they can reduce their carbon footprint by using services offered by the RTC. Board members selected their 40 favorite essays and passed out the Compaq computers and backpacks.