Bucks County Transport, Inc. Status FY 2011-12 Current Financial Position Current Operations Service Statistics/Trends Funding Statistics/Trends Other Information/Assumptions Capital Status Review 1 Bucks County Transport, Inc. Current Financial Position: Unrestricted Net Assets Source Balance Lottery (1,401,781) MATP (175,011) MH/MR (519,055) Area Agency on Aging 0 Other $4,226,816* Total $2,130,969 Included in this number is TMA Services, WTW and Capital Additions.
2 Bucks County Transport, Inc. Outstanding Debt Schedule Balance Loan Description Lending Institution Maturity Date Interest Rate As of 12/31/2011 Vehicle Loan Bucks Country Bank (20 Veh. Loan) Bucks County Bank 10/4/2012 6.90% $ 27,333.30 Univest Loan ( 721- 740) Univest Bank 10/14/2014 6.25% $ 103,770.72 Univest Loan (#709-720) Univest Bank 10/1/2013 4.25% $
29,675.14 Univest-Insur Loan 1 Year Univest Bank 1/15/2013 4.50% $ 75,000.00 Ford Vehicle Loan Ford Motor 11/27/2015 9.24% $ 46,718.00 Line of Credit Line of Credit Max $600,000 Univest Line of Credit max $200,000 Univest Prime +1 $ 7% $ 375,000.00 - 3 Bucks County Transport, Inc. Aged Accounts Payable
as of 2/6/2012 Current $ 148,149.81 1 - 30 Days Past Due $ 156,834.27 31 - 60 Days 61 - 90 Days Past Past Due Due $ $ 11,201.20 Over 90 Days Past Due $ (300.00) Total $ 315,639.5 (245.70) 8 Company policy is to pay net 30 days from date of invoice received 4 Bucks County Transport, Inc. Aged Accounts Receivable as of 1/31/2012 Accounts Receivable Past due 90 days and over Program/ Agency
MATP Amount Past Due $102,113 Date Requisitione d 7/1/2011 Estimated Pay Date Feb/March 2012 5 Bucks County Transport, Inc. Current Operations: Staffing Level Contract Provisions Healthcare Pension Fuel Fares Other major factors producing cost increases above inflation Cost Savings Initiatives 6 Bucks County Transport, Inc. Staffing Level/Org Chart Vince Volpe Executive Director Jim Raymond CFO Accounting Art Harzell Glenn Dornsife
Terminal Managers Grace McCausland Executive Secretary Ben Brigaman HR Manager Cindy Hadden Furst Operations Director ED Hackett Director of Maintenance Bryan Knight IT Manager Ladonna Synder Reservations Bristol Main. Facility Terminal Vehcile Main 7 Bucks County Transport, Inc. Personnel Drivers Current 2012-13 Starting wage $9.00 non CDL
$9.50 CDL $9.00 non CDL $9.50 CDL Top wage $16.20 $16.68 Average wage $10.25 $10.55 Contract wage Job Classification increase Number- Full Time Drivers 45 Mechanics 5 Dispatchers/ Schedulers/ Reservations 19 Clerical 10 Terminal Staff
6 Number-Part Time 52 8 Bucks County Transport, Inc. Personnel BCT has implemented a hiring policy to hire more part-time employees for the following reasons: Reduces overtime Reduces benefits cost Increases productivity of work force Work force is more flexible BCT employs 100 drivers and 52% of drivers are part- time. Goal is to have a ratio of 75% part time drivers. BCT currently has 6 contractors 9 Bucks County Transport, Inc. Health Care Effective 1/1/2011 Bucks County Transport Inc., changed the health care plan from an HMO plan to an HSA high deductible plan. (Blue Cross) New plan maintains current level of benefits. Annual Savings were $70,000. 2012 renewal rate decreased by approximately 6%. There are 43 employees enrolled in plan. Employee pays 10% of monthly premium 10 Bucks County Transport, Inc. Pension Plan: Effective 1/1/2011 - BCT change Pension Plan from a Defined Contribution Pension
Plan to a 401K Plan. Matching contribution is determined by the Board on a quarterly basis. Currently there are 22 people enrolled in the plan. Projected annual savings $130,000. Employees have internet access to their funds. Plan in administered By Expert Plan Investing option is Vanguard Funds. 11 Bucks County Transport, Inc. Fuel Current Cost per Gallon as of 2/14/2012 Diesel - $4.49 Gas - $3.89 CNG - $2.54 Projected Cost per Gallon and Basis for Projection For budget purposes, Diesel and Gas prices are projected to increase 10% per year In the next two years, we plan to replace 20 diesel vehicles with cng vehicles. Projected annual fuel saving per vehicle would be $4,000. 12 Bucks County Transport, Inc. Shared Ride Fares: Date of Last Fare Increase April 2008 Current Fares (include $2.15 fuel surcharge) $20.15 per in county trip $34.15 per out of county trip $29.15 per 2 or more riders out of county AAA
- AAA passenger pays $1.00, remaining fare paid by AAA Planned Changes April 2012 $22.00 per in county trip $36.00 per out of county trip $31.00 per 2 or more riders out of county AAA - AAA passenger pays $1.00, remaining fare paid by AAA 13 Bucks County Transport, Inc. Cost Increases Beyond Inflation: Factors Current Amount Projected Future Amount Explanation Work Compensation $285,000 $350,000 Loss runs/change of rating paratransit drivers Fuel $875,000 $936,250 10% increase offset by CNG fuel 14
Bucks County Transport, Inc. Cost Savings Initiatives: Initiative Current Cost Planned Action and Implementation Date Projecte d Savings Heath Care Change $600,000 1/1/2011 $70,000 Pension Plan Change $240,000 1/1/2011 $130,000 Adding CNG to Fleet(Fuel) $811,000 4/1/2012 $24,000 Increase part time workforce to decrease overtime.
$ 3,861,522 $ 3,955,660 $ 4,136,888 4,124,400 4,178,022 Balance $ (13,955) $ (87,611) - - - 16 Bucks County Transport, Inc. Shared Ride Statistics/Trends Included (shared ride/MATP/MHMR/WTW) Total Veh. Miles Cost per Mile Total Veh. Hours Cost per Hour $ Total Pass. Trips Cost per Trip
$ 16.25 $ 16.59 $ 17.08 $ 16.98 $ 16.65 $ 16.25 2.42 2.36 2.34 2.34 2.34 17 Other Information/Assumptions: 18 Capital Status Review FIVE YEAR CAPITAL SPENDING PLAN AGENCY NAME: Bucks County Transport, Inc. AGENCY NAME: Bucks County Transport Inc
DATE: FY2010-11 FY2011-12 FY2012-13 FY2013-14 FY2014-15 Actual Budget Forecast Forecast Forecast Sources of Funds Federal - Capital - 5310 - FTA Senior and 1 PWD 2 Federal - Capital - 5316 - FTA JARC 3 State - Community Transportation Capital 4 State - Capital - Other 5 Local Contribution 6 Other Financing Transaction Proceeds* 7 Internal Working Capital* 8 Proceeds from Disposition of Assets 9 Foundations 10 Private AFIG 11 Other 12 Total Sources of Funds 13 14 15 16 17 Uses of Funds Vehicle and Equipment Purchases Vehicle Overhauls Technology Other Support Programs Total Uses of Funds 18 Sources Less Uses** $505,600 $126,400 $120,000 $900,000 $990,000 $1,089,000 $1,197,900
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