For the first quarter of FY 2011, farebox revenue was $48.1 million, $343,000 more than forecast in June 2010. Farebox revenues were 1.7% higher ($812,000) than the same quarter last year.
Farebox recovery improved from a level of 63.8% in FY 2009 (farebox only) to 70.5% in FY 2010.
When other miscellaneous revenues were counted (concessions, advertising, galleys, etc.), the total revenue recovery rate went up from 65.3% in FY 2009 to 72% in FY 2010. The balance was paid primarily from a portion of the gas tax, motor vehicle registration and combined licensing fees, and a subsidy from the state Motor Vehicle fund.
Farebox recovery is the percentage of operating costs supported by farebox revenues. This measure is more meaningful on an annual basis due to timing of payments for operating expenses, which are not spread evenly across the year.