If you're concerned about the future of Tampa's public bus system, there's some good news.
New data projects that the Hillsborough Area Regional Transportation Authority isn't in as bad of a financial situation as expected in previous years.
Consultants for HART say the transit system no longer needs to worry about a fiscal cliff in the near future. Previous models predicted the authority could see that happen as soon as this year.
“This is good news,” Sharone Greene, of Infrastrategies, said during a presentation Monday.
Infrastrategies had given previous years’ projections as well.
HART board member and county commissioner Joshua Wostal says the bus system was very close to hitting rock-bottom.
"We were going to be bankrupt, and the state was imminent to step in and close this organization down,” Wostal said Monday at a HART board meeting.
But many pots of money for HART, like ride fares, were bigger than projected, while operating cost expenses were lower.
However, Greene also said the newest projections are acting as though HART is “continuing the status quo,” which would mean no change to levels of bus service, capital projects that are needed, and any other potential improvements.
“It's also mixed news, that unless there are more funds available to us, we're very constrained,” Greene said.
HART board member and Temple Terrace council member Gil Schisler says that there's still plenty of ways the transit system can improve financially.
“Yes, there is no cliff right now,” Schisler said. "But there is no growth either, and we're not going to get any better, we're just going to stay the way we are. And while that's OK, that's not good enough for our citizenry."
Schisler says the board is continuing to look for ways to cut costs and improve their revenue streams.
Officials for HART say right now, the system has about $36 million stored in reserves. The authority is required to have at least 90 days of reserves, which is around $27 million.
Officials agreed that now it's time for HART to figure out how to increase revenues so it can get some big-ticket projects done, most notably building a new heavy maintenance facility.
HART’s next fiscal year begins Oct. 1.
