Sunday, December 30, 2012


Full financial report is HERE!

Total operating and non-operating revenues were $488,360 for fiscal year 2012, an increase of 19.0 percent.

Passenger revenue increased 5.5 percent, to $102,240, during fiscal year 2012, as a result of a fare increase implemented in September 2011, a 2.2 percent increase in annual light rail ridership, and a 2.0 percent increase in bus ridership.

Total payroll and other tax revenues increased $21,928, or 9.7 percent, compared to fiscal year 2011. Employer payroll tax revenue increased $21,475, or 10.2 percent, while self employment and other tax revenues increased $1,745, or 12.9 percent, over fiscal year 2011

Grant revenue increased $51,780, or 130.6 percent, compared to fiscal year 2011

Total operating and non-operating expenses increased 1.0 percent to $553,894, during fiscal year 2012

OK lets take a look at these numbers,
1-operating revenues were up 19%
2-expenses increased 1%

Operationally Trimet is doing very well, as I have indicated in previous posts.

Then there is this:
The District’s total net assets at June 30, 2012, were $1,822,565, an increase of $69,438 or 4.0 percent from June 30, 2011
(see Table 1). Total assets increased $83,572, or 2.9 percent, and total liabilities increased $14,134 or 1.2 percent. The
increase in total assets is due primarily to increases in capital assets, offset by decreases in cash and investments of
$81,466 associated with the payment of debt service principal and interest and the utilization of restricted funds for
construction costs related to the Portland to Milwaukie light rail project
The increase in total liabilities is due primarily to
increases in Other postemployment benefits liability of $67,707, partially offset by principal payments made on bonds during
the year. 

It's hard to make heads or tails out of any of this without being someone 'from the inside"
Numbers can always be moved around to fit the agenda of the person preparing the report

No comments: