Fiscal Year 2020 Budget Overview
Our budget shows how we manage our community’s public transportation, roadways and infrastructure spending. Our online fiscal year budget information is a means to share the costs of public transportation, services, and roadway funding.
There will be fiscal years where the funding uses will exceed the funding sources. In those situations the RTC will use its available reserves or issue bonds to cover the funding gap.
The RTC’s budgeting is an annual process that is presented to the public and approved by the RTC Board of Commissioners. The fiscal year 2020 budget was presented during the RTC Board Meeting May 23, 2019.
The fiscal year 2020 budget started on July 1, 2019 and ends on June 30, 2020.
Where our funding comes from
The RTC will take in $593.8 million in funding during FY 2020. The RTC’s largest funding source (38%) is collected from sales tax, while funding collected from farebox revenue (money paid to ride the bus) accounts for only 11% of the agency’s funding. View the chart below for a complete breakdown of the RTC’s funding sources.
In 1991 the RTC was authorized to receive 1/4 of a percent Sales Tax due to Question 10 and then again in 2003 the RTC was authorized to receive 1/8 of a percent of question 10 funds to help fund our public transportation costs.
The RTC receives 9 cents of every gallon of gasoline purchased in Clark County. This is referred to as the Motor Vehicle Fuel Tax.
As Southern Nevada emerged from the recession of 2007-09, the needs of our transportation infrastructure that were put on hold due to lack of funding demanded more attention. To cover a growing gap in funding, in 2013 Nevada passed legislation, and Governor Brian Sandoval signed into law, a funding program to tie motor vehicle fuel tax to inflation for a three-year period. The Clark County Board of Commissioners followed with an ordinance to put that funding program in place from January 2014 through December 2016. Fuel Revenue Indexing (FRI) was designed to keep pace with material and labor costs, generate funds for critically needed transportation projects and create jobs.
To learn more oabout FRI visit rtcsnv.com/fri
During the November 2016 election, ballot Question 5 asked Clark County voters if they wanted to continue to tie fuel tax to the rate of inflation for an additional 10 years. This was approved by a majority of voters and the FRI program was extended through 2026.
Learn more about FRI and the FRI extension online at rtcsnv.com/fri.
Transit fares is the revenue collected from passengers each time the purchase an RTC bus pass.
In 2019 the RTC piloted the on-demand “Trip to Strip” service that takes you where you want to go along the Las Vegas Strip and key places of interest downtown. Due to financial constraints facing our overall transit system, the RTC made the decision to discontinue the pilot program, effective Tuesday, Dec. 31, 2019.
The RTC receives 1 cent from each gallon of jet fuel that is purchased in Clark County.
Where our money is spent
The RTC’s operating budget pays for the contracted public transit service, capital projects, employee salaries, debt service and day-to-day operations, such as maintenance equipment, software, and other basic expenses that every business needs to operate efficiently. View the chart below for a complete breakdown of the RTC’s operating and capital outlay.
Capital outlay is money spent to acquire, maintain, repair or upgrade capital assets, which can include vehicles, equipment, network hardware, computer software, roadway construction projects and others.
Transit operations budget
The RTC contracts transit service and security operations with private-sector companies. While the RTC owns all the vehicles, we do not operate or maintain them. During fiscal year 2020, the RTC has budgeted $247.8 million to cover all the operational expenses. The chart below provides a breakdown of the budget.
Online Document Library
Below you can view previous fiscal year budgets, financial statements, and audit reports.
FY2019 Audited Component Unit Financial Statements– June 30, 2019
FY2018 Audited Component Unit Financial Statements – June 30, 2018
FY2017 Audited Component Unit Financial Statements – June 30, 2017
FY2016 Audited Component Unit Financial Statements – June 30, 2016
FY2015 Audited Component Unit Financial Statements – June 30, 2015
FY2014 Audited Component Unit Financial Statements – June 30, 2014
FY2013 Audited Component Unit Financial Statements – June 30, 2013
FY2012 Audited Component Unit Financial Statements – June 30, 2012
FY2011 Audited Component Unit Financial Statements – June 30, 2011
FY2010 Audited Component Unit Financial Statements – June 30, 2010
FY2009 Audited Component Unit Financial Statements – June 30, 2009
FY2008 Audited Component Unit Financial Statements – June 30, 2008
FY2007 Audited Component Unit Financial Statements – June 30, 2007