To All Commissioners
Re: Financial Update – Specialized Transit Services – Operating Budget – March 31, 2018
Recommendation
That the report be NOTED and FILED.
Background
Set out in the table below is the Statement of Operations for Specialized Transit Services for the three month period ending March 31, 2018. The statement sets out actual to budget performance for the period.
London Transit Commission
Statement of Operations – Specialized Transit Services
Three Months Ending March 31, 2018
(000’s omitted)
| Amount | Percent | ||||
| Better | Better | ||||
| Description | Actual | Budget | (Worse) | (Worse) | |
| Revenue | |||||
| Transportation | $ 137.9 | $ 154.1 | $ (16.2) | (10.5)% | |
| Province – provincial gas tax | 527.4 | 527.4 | – | 0.0 % | |
| City of London | 1,234.2 | 1,234.2 | – | 0.0 % | |
| Total revenue | 1,899.5 | 1,915.7 | 16.2) | (0.8)% | |
| Expenditure | |||||
| Personnel cost | 227.5 | 222.6 | (4.9) | (2.2)% | |
| Contract service cost | 1,659.9 | 1,661.9 | 2.0 | 0.1 % | |
| All other material expense | 29.4 | 31.2 | 1.8 | 5.8 % | |
| Total expenditure | 1,916.8 | 1,915.7 | 1.1) | (0.1)% | |
| Net favourable/(unfavourable) | $ (17.3) | $ – | $ (17.3) | (0.9)% | |
As indicated, the service has a net unfavourable operating budget performance to-date of 0.9% or $17,300.
Ridership
The unfavourable Transportation Revenue amount of $16,200 is attributable to actual ridership and average fare being lower than expected. The table below sets out actual to budget ridership and other performance related measures as well as a comparison to the same period in the previous year.
| % | 2017 | % | |||||
| Description | Actual | Budget | Variance | Variance | Actual | Variance | |
| Eligible passenger trips | 71,790 | 76,800 | (5,010) | (6.5)% | 69,203 | 3.7 % | |
| Attendant/companion trips | 8,536 | 8,800 | (264) | (3.0)% | 7,251 | 17.7 % | |
| Total Trips | 80,326 | 85,600 | (5,274) | (6.2)% | 76,454 | 5.1 % | |
| Average fare | $ 1.717 | $ 1.800 | $ (0.083) | (4.6)% | $ 1.771 | (3.0)% | |
| Service Hours | 35,037 | 35,055 | 18 | 0.1 % | 32,799 | 6.8 % | |
| EPT per service hour | 2.05 | 2.19 | (0.14) | (6.5)% | 2.11 | (2.9)% | |
| Total trips per service hour | 2.29 | 2.44 | (0.15) | (6.1)% | 2.33 | (1.6)% | |
| Registrants to-date vs. annual basis | 8,548 | 8,900 | (352) | (4.0)% | 8,115 | 5.3 % | |
Administration will continue to monitor operating budget performance reporting on same on a monthly basis including providing recommendations as may be appropriate.
Recommended by:
Mike Gregor – Director of Finance
Concurred in by:
Kelly S. Paleczny – General Manager