For the fourth quarter of FY 2011, farebox revenue was $39.4 million, $54,000 (0.1%) below the projected levels. Farebox revenues were about $209,500 (0.5%) lower than the same quarter in 2010.
As noted in the last edition of the Gray Notebook, ridership and farebox revenues are now presented on a quarterly basis, comparing the current quarter to the same quarter one year earlier. In this way, it is possible to provide a direct comparison that accounts for seasonality and offers a more accurate look at overall trends in ridership and in revenue.
- For FY 2009 - 2011 actual farebox revenue was $294.5 million, only slightly under the target of $295 million. The target for FY 2011 - 2013 is $310 million. Farebox revenue is linked to both ridership and fare schedules.
- A fuel surcharge mechanism was approved by the Washington Transportation Commission as of October 1.
- WSF is also working on increasing non-fare revenues through increasing concession and advertising revenue and through a new agreement with the Washington State Lottery.