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The Annual Operating Agreement has been approved by Kelowna Council, marking a net increased cost of over $700,000 from 2014/2015.
This operating agreement is effective for April 1, 2015 to March 21, 2016, and it includes the summary of budgeted revenues and costs for the Kelowna Regional Transit System. The main increased costs are from the operating company’s fixed costs, increased scheduled service hours, fleet maintenance, and new infrastructure and support for traffic signal priority and automatic vehicle locator systems.
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The City of Kelowna’s existing 2015 Provisional Budget, which was approved by Council in January, already provides for these Annual Operating requirements.
Costs for conventional transit increased 7.7 per cent from the amended 2014/15 Annual Operating Agreement (AOA), with Kelowna’s portion up by $734,334. However, increased revenue is $39,059 for a net increase of $695,729.
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Community transit costs increased $78,421, up by 3.28 per cent from 2014/15, while the City of Kelowna’s share is $21,298. Custom transit went up 2.81 per cent, with Kelowna’s portion equalling $3,017.
Kelowna Council approved a bus fare increase back in March for better cost recovery for transit service. This increase will come into effect on September 1st, 2015.
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