Pikes Peak Rural Transportation Authority
Revenue and Expense Summary
For Year End December 31, 2024
June 21, 2024
Modified Cash Basis
(in dollars)
| Category | Year-to-date Actual | Year-to-date Budget | Percent of YTD Budget | Annual Budget Including Estimated Carryover | Actual Difference from Annual Budget | Annual Percent of Budget Expended | Notes |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Total Tax Revenue | 48,036,562 | 45,525,813 | 106% | 150,000,000 | (101,963,438) | 32% | 1 |
| Other Revenue Sources: | |||||||
| Public Transportation fare & advertising revenue | 986,077 | 954,044 | 103% | 2,862,133 | (1,876,056) | 34% | |
| Interest Earnings | 8,023,440 | 2,000,000 | 401% | 6,000,000 | 2,023,440 | 134% | |
| Gross Revenue | 57,046,079 | 48,479,857 | 118% | 158,862,133 | (101,816,054) | 36% | |
| Sales and Use tax collection costs | (55,912) | (90,000) | 62% | (270,000) | 214,088 | 21% | |
| Net Revenue | 56,990,167 | 48,389,857 | 118% | 158,592,133 | (101,601,966) | 36% | |
| Expenditures | |||||||
| Administrative | 233,213 | 380,133 | 61% | 1,116,400 | 883,187 | 21% | |
| Public Transportation | 6,355,778 | 19,385,402 | 33% | 58,156,207 | 51,800,429 | 11% | |
| Maintenance | |||||||
| Town of Green Mountain Falls | 15,462 | 0% | 50,946 | 50,946 | 0% | ||
| City of Manitou Springs | 89,848 | 0% | 296,033 | 296,033 | 0% | ||
| City of Colorado Springs | 9,252,025 | 13,888,376 | 67% | 45,759,895 | 36,507,870 | 20% | |
| El Paso County | 993,434 | 7,270,013 | 14% | 23,953,488 | 22,960,054 | 4% | |
| Town of Ramah | 16,111 | 0% | 53,082 | 53,082 | 0% | ||
| Town of Calhan | 24,309 | 0% | 80,094 | 80,094 | 0% | ||
| 10,245,459 | 4,833,305 | 212% | 70,193,538 | 59,948,079 | 15% | ||
| Capital | |||||||
| Initial “A” list projects | |||||||
| City of Colorado Springs | |||||||
| Roadway Safety and Traffic Operations | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Pikes Peak Greenway Improvements | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Marksheffel Road (PAFB to Black Forest) | (116,855) | 264,000 | -44% | 264,000 | 380,855 | -44% | |
| (116,855) | 264,000 | -44% | 264,000 | 380,855 | -44% | ||
| El Paso County | |||||||
| Meridian Rd Ext. (Falcon to US 24) | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Marksheffel Road (Mesa Ridge to SH94) | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Marksheffel Road (PAFB to Black Forest) | (269,609) | 0 | #DIV/0! | 0 | 269,609 | #DIV/0! | |
| Baptist West & Baptist Rd (Mitchell to I-25) | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| (269,609) | 0 | #DIV/0! | 0 | 269,609 | #DIV/0! | ||
| Total for Initial “A” list | (386,464) | 264,000 | -146% | 264,000 | 650,464 | -146% | |
| Capital Renewal “A” list Projects | |||||||
| Town of Green Mountain Falls | |||||||
| Belvidere Avenue | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Stilling Basins | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| 0 | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| City of Manitou Springs | |||||||
| Manitou Avenue W. End Ped & Drainage Improvements | 2,340 | 33,442 | 7% | 100,326 | 97,986 | 2% | |
| Manitou Downtown Sidewalk, Drainage & Utilities | 97,539 | 0% | 292,616 | 292,616 | 0% | ||
| W. Co. Ave. reconstruction: 31st St. to US 24 Joint project | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Transit Shuttle Parking | 7,371 | 682,053 | 1% | 2,046,159 | 2,038,788 | 0% | |
| 9,711 | 813,034 | 1% | 2,439,101 | 2,429,390 | 0% | ||
| City of Colorado Springs | |||||||
| 8th St. Imps.: Motor City Way to Fountain Creek | 170,078 | 1,411,448 | 12% | 4,234,345 | 4,064,267 | 4% | |
| Academy Blvd. Bijou St. to Airport Rd Reconstruction | 3,233,214 | 4,415,160 | 73% | 13,245,480 | 10,012,266 | 24% | |
| Academy Blvd. Fountain to Proby Pkwy Reconstruction | 1,367,068 | 14,525,103 | 9% | 43,575,309 | 42,208,241 | 3% | |
| Academy Over Cottonwood Creek Bridge Rehab. | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Airport Rd. over Spring Creek Bridge replacement | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Barnes Rd-Solar Ridge to Powers Blvd. | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Black Forest Rd.-Woodmen to Research (Joint Project) | 3,040,972 | 4,267,847 | 71% | 12,803,540 | 9,762,568 | 24% | |
| Centennial Blvd. Ext.: Fillmore-Fontanero | 55,375 | 717,933 | 22% | 2,153,798 | 1,998,423 | 7% | |
| Centennial: G. of G. to Fillmore Pavement Reconstruction | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Chestnut over S.Douglas Creek Bridge Replacement | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Circle Drive projects combined | 5,674,385 | 15,327,700 | 37% | 45,983,100 | 40,308,715 | 12% | |
| Circle Drive EB over Fountain Creek Bridge Replacement | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Circle Drive EB over Hancock Bridge Rehabilitation | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Circle Drive WB over Fountain Bridge Rehabilitation | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Circle Drive WB over Hancock Bridge Rehabilitation | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Companion Drainage Improve. for roadway Projects | 13,245 | 137,333 | 10% | 412,000 | 398,755 | 3% | |
| Dublin Rd. : Bridle Pass Way to Powers Blvd. | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| El Paso Bridge Over Fountain Creek Tributary Replacement | 493,509 | 379,396 | 130% | 1,138,188 | 644,679 | 43% | |
| Emergency Bridge Fund | 138,061 | 2,850,699 | 5% | 8,552,098 | 8,414,037 | 2% | |
| Enchanted Circle Over Sand Creek Bridge Replacement | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Galley Rd. over Sand Creek Bridge Replacement | (339,422) | 1,460,217 | -23% | 4,380,652 | 4,720,074 | -8% | |
| I-25 Ramps: S. Nevada/Tejon St. Corridor Improvements | 313,191 | 2,839,338 | 11% | 8,518,014 | 8,204,823 | 4% | |
| Las Vegas St./Royer UPRR Crossing Relocation | 30,474 | 4,481,684 | 1% | 13,445,052 | 13,414,578 | 0% | |
| Midland Trail Improvements: Ridge Rd. to Columbia St. | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Old Ranch Rd. Improvements & Bridge Reconstruction | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Pikes Peak Ave: Colo. To Printers Pkwy Reconstruction | 4,215 | 0% | 12,644 | 12,644 | 0% | ||
| Platte Ave. Connection to I-25 Study | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Platte-W. Bound over Sand Creek Bridge Replacement | 812 | 36,487 | 2% | 109,462 | 108,650 | 1% | |
| Rock Island Trail Corridor Improvements | 333,333 | 0% | 1,000,000 | 1,000,000 | 0% | ||
| S. Cheyenne Canyon Rd over Creek Bridge Replacement | 2,038,098 | 961,210 | 212% | 2,883,630 | 845,532 | 71% | |
| Shook’s Run Bridge Corridor Improvement Study | 14,304 | 0% | 42,911 | 42,911 | 0% | ||
| Shook’s Run Trail corridor Improvements | 266,667 | 0% | 800,000 | 800,000 | 0% | ||
| Stapleton Dr./Briargate Blvd Corridor Study (Joint project) | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Tutt Blvd Extension: Dublin to Templeton Gap | 35,222 | 1,446,416 | 2% | 4,339,247 | 4,304,025 | 1% | |
| Union Pacific RR: Mainline over Fontanero Bridge Replace | 90,744 | 3,871,864 | 2% | 11,615,593 | 11,524,849 | 1% | |
| Union Pacific RR: Nevada & Tejon Crossing -design only | 117 | 748,027 | 0% | 2,244,081 | 2,243,964 | 0% | |
| W. Fillmore over Unnamed Channel Bridge Replacement | 1,772,739 | 935,200 | 190% | 2,805,601 | 1,032,862 | 63% | |
| W. Co. Ave. reconstruction: 31ST ST. TO US 24 Joint proj. | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Woodmen Rd Improve.: Union Continuous Flow Intersection | 5,460 | 84,085 | 6% | 252,255 | 246,795 | 2% | |
| Pikes Peak Greenway Corridor Improvements | 134,167 | 945,181 | 14% | 2,835,542 | 2,701,375 | 5% | |
| Platte Ave. Corridor Improvement Study | 8,450 | 25,590 | 33% | 76,769 | 68,319 | 11% | |
| Sinton Trail Corridor Improvements | 173,618 | 0% | 520,853 | 520,853 | 0% | ||
| Templeton Gap Trail Corridor Improvements | 191,667 | 0% | 575,000 | 575,000 | 0% | ||
| Citywide Capital | |||||||
| Citywide Intersection Improvement Ph. I | 5,675,240 | 4,395,159 | 129% | 13,185,477 | 7,510,237 | 43% | |
| Citywide On-Street Bikeway Improvements-Ph. I | 15,796 | 554,777 | 3% | 1,664,332 | 1,648,536 | 1% | |
| Citywide Ped Transportation Improvements-Ph. I | 81 | 736,222 | 0% | 2,208,665 | 2,208,584 | 0% | |
| Citywide Roadway Safety, Traffic Ops, & Maint. Ph. I | 3,874,085 | 7,319,994 | 53% | 21,959,982 | 18,085,897 | 18% | |
| Citywide School & Neighborhood Ped Improvements Ph. I | 138,837 | 266,177 | 52% | 798,531 | 659,694 | 17% | |
| Citywide Congestion and Incident Mgmt. Signal Imp. Ph. I | 129,804 | 438,234 | 30% | 1,314,701 | 1,184,897 | 10% | |
| Citywide Traffic Signal System Upgrade | 190,490 | 0% | 571,471 | 571,471 | 0% | ||
| Transit Capital | |||||||
| ADA-Par transit Bus system Vehicle Replacement | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Fixed-Route Bus System Vehicle Replacement | 1,839,143 | 0% | 5,517,430 | 5,517,430 | 0% | ||
| Sidewalk/Bus stop program- Existing Routes | 17,175 | 0% | 51,526 | 51,526 | 0% | ||
| Vanpool Vehicle Replacement | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| 28,209,802 | 78,609,093 | 36% | 235,827,279 | 207,617,477 | 12% | ||
| EL Paso County | |||||||
| Beacon Lite Road-Highway 105 to County Line Rd. | 383,717 | 7,401,951 | 5% | 22,205,852 | 21,822,135 | 2% | |
| Deer Creek, Base Camp, Microscope Way (Emigrant Trail) | 113,958 | 1,403,075 | 8% | 4,209,226 | 4,095,268 | 3% | |
| Eastonville Road-McLaughlin Rd. to Latigo Blvd. | 4,325,397 | 0% | 12,976,190 | 12,976,190 | 0% | ||
| Fontaine Blvd at Security Blvd At Widefield Rd | 64,989 | 0% | 194,966 | 194,966 | 0% | ||
| Highway 105: I25 to Highway 83 | 986,803 | 7,760,170 | 13% | 23,280,509 | 22,293,706 | 4% | |
| Main St. at Security Blvd. | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Meridian/McLaughlin Roundabout | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Mesa Ridge Parkway: Powers to Marksheffel | 2,568 | 3,116,667 | 0% | 9,350,000 | 9,347,432 | 0% | |
| Monument Hill Road: County Line to Woodmoor | 103,225 | 0% | 309,674 | 309,674 | 0% | ||
| New Meridian/US-24 | 2,020 | 216,894 | 1% | 650,681 | 648,661 | 0% | |
| S. Academy Blvd-I-25 to Bradley Rd Ramps | 2,920,823 | 20,156,251 | 14% | 60,468,753 | 57,547,930 | 5% | |
| Stapleton Dr./Briargate Blvd. Corridor Study (Joint Project) | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| Tutt Blvd Extension Dublin to T-Gap (Joint project) | 0 | #DIV/0! | 0 | 0 | #DIV/0! | ||
| West Colorado Ave (Joint project) | 10,067 | 0% | 30,200 | 30,200 | 0% | ||
| 4,409,889 | 44,558,684 | 10% | 133,676,051 | 129,266,162 | 3% | ||
| Town of Ramah | |||||||
| Ramah Street Overlay project | 11,181 | 0% | 33,544 | 33,544 | 0% | ||
| Total ‘renewal Capital “A” list funding | 32,629,402 | 123,991,992 | 26% | 371,975,975 | 339,346,573 | 9% | |
| Total Capital Expenditures | 32,242,938 | 124,255,992 | 26% | 372,239,975 | 339,997,037 | 9% | |
| Total Projects and Transportation expenses | 48,844,175 | 148,474,699 | 33% | 500,589,720 | 451,745,545 | 10% | |
| Total Expenditures | 49,077,388 | 148,854,832 | 33% | 501,706,120 | 452,628,732 | 10% | |
| Revenue Over/(Under) Expenditures | 7,912,779 | (100,464,975) | -8% | (343,113,987) | (554,230,698) | -2% | |
| Beginning fund balance | 0 | 343,157,727 | 343,157,727 | 343,157,727 | |||
| Net Activity including prior year carryover | 7,912,779 | 242,692,752 | 3% | 43,740 | (211,072,971) | ||
| Reserves: | |||||||
| Addition to Reserve | (14,580) | (14,580) | 100% | (43,740) | (29,160) | 33% | |
| Net Reserve balance adjustment | (14,580) | (14,580) | 100% | (43,740) | (29,160) | 33% | |
| Net Activity Less Reserve adjustment | $7,898,199 | $242,678,172 | 3% | $0 | $7,898,199 | N/A |
Notes:
1: Tax revenues from the State are received by the PPRTA two months in arrears. This statement includes April sales and use tax received in June 2024.