NRoute books showing surplus for ‘14
Published 11:01 am Friday, September 26, 2014
NRoute has an $18,799 surplus heading into the close of the 2014 fiscal year, giving its board of commission hope that the city’s bus system will finish in the black when the final numbers are totaled.
According to the transit system’s balance sheet, NRoute had $31,273.99 in available cash, but Nathan Cummins of May & Co., the accountant for NRoute, said that total did not include outstanding bills that must be paid before the end of the month. He said additional revenue is also expected before the fiscal year ends Tuesday.
“At the next meeting, we’ll have the final balance sheet (for 2014), so we’ll have good end of the year picture for you,” Cummins said.
The system’s profit and loss statement for August showed a $6,401.89 deficit, which he said was expected because the month featured three payrolls, adding, “It’s pretty hard to break even with a three-payroll month.”
Looking at NRoute’s total financial picture, he said expenses for NRoute were down in August, pointing out a $14,178 drop in expenses for oil and gas.
“Overall, I think you’re going to end the year on a positive note,” he said.
In other action, the board:
• Learned ridership was down compared the same period in 2013. As of Wednesday, ridership for September totaled 3,087, compared with 4,017 for the same period last year. Year to date, 43,881 passengers took the buses, which was 979 people less than the 44,860 who rode during the same period in 2013.
Total revenue was $108,080.65, which was $28,365.79 more than the $79,714.86 collected for the same period in 2013. Part of the increase was due to NRoute’s contract with Warren-Yazoo Mental Health.
Under the contract, Warren-Yazoo pays NRoute a total of $9 per person per day to take clients to and from the center for programs. NRoute executive director Evelyn Bumpers said the buses average about 30 to 40 trips to Warren-Yazoo per week.
• Renewed NRoute’s contract with Warren-Yazoo Mental Health.