This past Tuesday’s meeting of Bloomington Transit’s five-member board included a first look at the 2024 budget for the city’s public transportation agency.
The biggest chunk of the draft 2024 budget is about $12.5 million for acquisition of land to expand BT’s bus storage and maintenance facility.
At around $26.3 million, the draft 2024 budget is about $9 million less than the $35 million the board approved last year.
But that’s still $11 million more than the roughly $15-million budgets for the previous three years.
BT board chair James McLary called the 2024 plan a “very aggressive budget.”
The roughly $15-million budgets for the three years starting in 2020 already reflected a substantial increase, compared to the roughly $9- to $10-million budgets before that.
For each of the last four years, the biggest increases have come in the category of capital expenditures. Bloomington Transit is purchasing battery-electric buses as replacements for buses that have reached the end of their useful life—with a goal of running an all-electric fleet by 2050.
Last year, BT put extra money into electric bus acquisition, just to add to the size of its fleet—to prepare for running a new east-west express route, after a study is completed to analyze the route’s exact alignment and scheduling.
This year, the capital expense category is still the biggest fraction of the budget, but that’s mostly because there’s a $12.5-million item in that category labeled “land acquisition.”
The idea is to use about $2.5 million of local money to match a hoped-for federal grant that will cover the cost of the roughly $12.5-million project. Continue reading “2024 local govt budget season kickoff: Draft plan for Bloomington Transit includes $12M for land purchase”