Title
Budget Update
Summary
MEETING DATE: May 5, 2021
DEPARTMENT: Housing & Community Development
CONTACT: Akia Pichon, Transit Administrator
ITEM SUMMARY:
• Budget update for FY2021.
• An FY21 allocation of $3,135,729 is available to the MUTD. This is an expected allocation of FTA 5307 grant funds. We receive these funds directly from the FTA due to the size of our urbanized area. Funds are available the year appropriated (FY2021) plus five years (FY2026). Funds available may be used for operating assistance, preventative maintenance, capital investments, and planning development. Funds available have a local match requirement that differs based on the use of funds.
• MUTD has received an FY21 allocation of $477,778 from TXDOT. MUTD has a rollover balance of $100,000 in TXDOT funds, totaling $577,778 for FY21. TXDOT funds are available for the year appropriated.
• An additional allocation of $62,344 in FTA grant monies is available to the MUTD under the American Rescue Act. Funds available may be used with no local match required. Funds must be used for public transit payroll, operating costs, and administrative leave during the COVID-19 public health emergency. We are not obligated to apply for these funds. Funds must be obligated by September 30, 2024 and disbursed by September 30, 2029.
• Complete FY22 budget will be presented to MUTD for approval at next board meeting.