|
Dear Community Partners:
Like many of you, DART looks at our finances at the start of a new year and plans projects for the year ahead. The good news is that we have things figured out – not just for next year but for the next 20!
DART embraces our responsibility to be a good steward of public funds. We are focused on our financial future, which is why DART’s Point B Strategic Plan, Transit System Plan, and 20-Year Financial Plan guide our investments to improve the DART transit system and services for our communities.
Each year, DART’s Board members receive projections of how much we expect to receive and spend over the next two decades. Those spending expectations reflect the initiatives detailed in the Point B Strategic Plan and include major initiatives, like the DART Transform System Modernization Program. The bottom line? We plan and budget well within our means – and we have a long history of doing so.
All our budgets and plans are accessible to the public online, and I thought it would also be helpful to give you a high-level overview in this month’s newsletter.
Sales tax is our largest source of funds at 74%, so our funding projections rely on well-informed estimates that are validated by economists who are experts in the field. As many of you know, in 1983, voters approved a 1% sales and use tax to build, operate, and maintain the DART System. The State of Texas collects sales tax generated in DART’s service area and distributes DART’s portion directly to the agency.
You may be surprised to learn that DART does not receive money from the State of Texas or the Texas Department of Transportation except on rare occasions for special capital projects. We do receive federal funding, which provides an additional 7.3% of our revenue. Most of our federal funding comes from formula funds dedicated to preventive maintenance, security, and safety initiatives. Because discretionary grants are competitive and limited, our plans only include discretionary funds already awarded to us.
These funds will support more than 65 million trips this year across all DART transportation modes – bus, light rail, TRE, paratransit, and GoLink. We are also working to complete the construction of the Silver Line and hundreds of capital projects necessary to keep our system safe, clean, and reliable. Finally, we dedicate about 25% of our sales tax revenues ($222 million) to paying back the debt that helped us build our sophisticated, modern transportation network.
In addition to learning more about how DART is putting these funds to work, this newsletter includes information about:
Finally, the end of January also marks the start of the Lunar New Year, which is significant for me. This is the Year of the Wood Snake, representing wisdom, creativity, and personal growth. As we move forward into 2025, may we all benefit from these blessings. As always, thank you for the gift of your ongoing support and advocacy for DART.
| 
