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File #:
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AB2024-163
Version:
1
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Type:
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Discussion
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Status:
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Discussed
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On agenda:
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3/5/2024
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Final action:
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3/5/2024
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Enactment date:
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Enactment #:
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Title:
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Discussion regarding the 2024 forecasted shortfall of the Ferry Operating Fund
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Department
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Public Works Department
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Primary Contact Email: sdraper@co.whatcom.wa.us
TITLE FOR AGENDA ITEM:
TITLE
Discussion regarding the 2024 forecasted shortfall of the Ferry Operating Fund
BODY
SUMMARY STATEMENT OR LEGAL NOTICE LANGUAGE:
Preliminary reports show that the 2023 Ferry revenues are approximately 22% under budget without a corresponding expense drop. Currently, 2024 is showing continued lower ridership. We will discuss fund projections and options to address this fund balance issue, including utilizing ARPA and a 2024 increase in fare revenue. Please see the attachment for more information and fund projection graphs
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