Capital projects take up majority of RTC’s nearly $1B budget

Expanded transit service, new buses and several road improvement projects are planned under the Regional Transportation Commission of Southern Nevada’s $900.5 million budget for 2017-18 fiscal year, representing a 10 percent increase.

Without discussion, the RTC’s board of directors unanimously approved the spending plan Thursday.

About $533.3 million — accounting for 59.2 percent of expenditures — will go toward capital projects including road work, bus operations and building new bus shelters during the next fiscal year, set to begin July 1.

Plans also call for buying about 35 new 40-foot buses for $20.8 million, roughly 20 new 60-foot buses for $18.1 million and 120 new paratransit buses used by disabled riders for $14.4 million, RTC Finance Director Marc Traasdahl said. The transit agency also plans to expand bus service by 60,000 hours.

The RTC is projected to generate $724.4 million in revenue, with 28 percent of the funds generated by the local sales tax, 21.2 percent from bond proceeds, 15 percent from grants and 12.2 percent from fuel revenue indexing, according to a report presented this week to the RTC’s board of directors.

The RTC’s budget will be balanced with a $242 million carryover of fuel tax and sales tax from the current fiscal year to the next year, Traasdahl said.

Contact Art Marroquin at amarroquin@reviewjournal.com or 702-383-0336. Follow @AMarroquin_LV on Twitter.