TheRide Introduces Fiscal Year 2024 Budget Proposal, Welcomes Public Comment

TheRide Introduces Fiscal Year 2024 Budget Proposal, Welcomes Public Comment

people looking at a budget document, close up of their hands.

ANN ARBOR, MI – The Ann Arbor Area Transportation Authority (TheRide) will present their Fiscal Year 2024 draft budget at the August 17 Board of Director’s meeting and will hold a public meeting at this meeting for all persons interested in the budget. TheRide’s 2024 fiscal year runs October 1, 2023 through September 30, 2024.

The Fiscal Year 2024 Draft Budget is balanced and provides financial stability and funding for services to retain and attract new riders. The budget supports TheRide’s business plan objectives of maintaining current services, expanding services programmed in the approved Long-Range Plan, and process improvement. The budget supports operating at full service levels and does not incorporate any fare changes.

“With the proposed budget, we are excited to begin implementing expanded services that were approved by TheRide’s Board of Directors and supported by voters through approval of property tax millage rates in August 2022,” Deputy CEO of Finance and Administration, Dina Reed said. “Our Fiscal Year 2024 budget complies with all policies and furthers TheRide’s vision for public transportation.”

TheRide’s Fiscal Year 2024 draft budget proposal issue brief is available for review at: https://www.theride.org/about/performance/business-plan-budget.

A copy of the proposed budget and additional background materials will be available for public inspection starting Monday, August 7 from 8:00 a.m. to 5:00 p.m. Monday through Friday at the Ann Arbor Area Transportation Authority Main Office, 2700 South Industrial Highway, Ann Arbor, Michigan 48104 and at TheRide.org.

Members of the public are encouraged to comment:

The Fiscal Year 2024 budget will be formally adopted at the September 21 Board of Directors Meeting.