PVTA Fiscal Year 2009 Annual Report
Message from the Administrator
The new team that was developed in the previous two years produced many achievements in FY 09. This Annual report highlights some of the more significant accomplishments including bringing bus advertising in-house and generating an additional $128,000 in annual revenue.
PVTA had to implement a fare increase at the start of FY 09. The good news was that fixed-route ridership actually increased 1% over FY 08. It is highly unusual in the transit industry to have ridership increase after a fare increase.
There were two significant positive changes in cost savings and revenue enhancement. The restoration of the full faith and credit clause in our state enabling legislation resulted in a half-million dollar savings with a reduction in our interest rate on our borrowings. PVTA received $16.2 million dollars in stimulus funds and we were able to use 10% of the stimulus funding for operations and the balance was used for the purchase of badly needed buses, vans and other capital projects.
Another significant occurrence for FY 09 was the successful negotiation of a new three-year labor contract for the employees of SATCo and VATCo.
I am confident that the PVTA team will embark upon more successful ventures in FY 10.
Mary L. MacInnes
Administrator, Pioneer Valley Transit Authority