Key West Transit Development Plan FY2025-2034

9.1 Short-Term Operating and Capital Improvements

Table 9-4: Short-Term Financial Plan (cont.)

Short Term Total

Cost/Revenue

2025 2026 2027

2028

2029

2030

Total Operating and Capital Program Costs & Revenue Summary

Total Revenues

$13,045,595 $10,663,188 $10,935,143 $10,416,772 $10,623,945 $55,684,643 $12,104,818 $11,070,150 $10,399,354 $10,633,070 $16,225,653 $56,645,980

Total Costs

Revenues Minus Costs Rollover from Prev. Year

$940,777 $(406,962)

$535,790 $(216,297)

$(5,601,708)

$(961,337)

— $940,777 $(4,748,401) Surplus/Shortfall $940,777 $533,815 $1,069,605 $853,307 $(4,748,401) $(1,350,897) $533,815 $1,069,605 $853,307

Short-Term Financial Plan Summary (2025-2029) The Short-Term Financial Plan provides a 5-year picture of the estimated costs and revenues for the FY 2025-29 timeframe. The Financial Plan offers a look at potential cost and revenue estimates related to implementing all the recommended Short-Term Plan alternatives. The operating costs for maintaining existing services are projected to increase steadily from $7,195,980 in 2025 to $7,789,160 in 2029, totaling $37,448,169 over the five years. Additional costs are anticipated for expanding services under the “Key West - On the Move” priorities, including the Duval Loop expansion starting in 2027, the North Connector service beginning in 2028, and the Lower Keys Shuttle expansion in 2029. The total operating costs are expected to rise from $7,195,980 in 2025 to $12,650,653 in 2029, amounting to $42,406,892 over the period. The capital expenditures include investments in vehicles, infrastructure, and equipment. The costs for new and replacement vehicles are significant, with a peak of $3,500,000 in 2029 due to the deployment of On the Move priorities in FYs 27-29. Other capital costs include infrastructure improvements, park and ride rehabilitation, and transit facility enhancements. The total capital costs are projected to decrease

from $4,908,838 in 2025 to $3,575,000 in 2029 due to the completion of the Park and Ride Rehabilitation and other capital projects currently underway. The total operating revenues are expected to increase from $6,712,530 in 2025 to $7,839,423 in 2029, amounting to $37,166,687 over the short-term period. The total capital revenues are projected to decrease from $6,333,065 in 2025 to $2,784,522 in 2029, totaling $18,517,956 over the five years due to the completion of the Park and Ride Rehabilitation and other capital projects currently underway which the grant funding will be closed by the end of the Short-Term Planning period. The total revenues (operating and capital) are expected to decrease from $13,045,595 in 2025 to $10,623,945 in 2029, totaling $55,684,643 over the period. The total costs (operating and capital) are projected to increase from $12,104,818 in 2025 to $16,225,653 in 2029, amounting to $56,645,980 over the five years. This results in a surplus in the initial years, but a shortfall of $5,601,708 is expected in 2029, leading to an overall deficit of $961,337 by the end of the period.

Transit Development Plan FY 2025–2034

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