Possible surplus thanks to lower than expected fuel prices

DRT could be seeing a surplus this year, thanks to fuel prices that are lower than what was budgeted for.

According to a report presented to the transit executive committee, the service is facing an operating deficit of approximately $1 million, “based upon a review of actual expenditures and revenues to date and forecasts to the end of the year.”

However, thanks to lower fuel prices, the service stands to save approximately $1.5 million on the year, meaning that the projected operational deficit could be offset, leaving DRT with a surplus of $500,000.

The report details the $1 million shortfall coming from $325,000 less than budgeted for fare revenues and $675,000 for specialized services.