| Fund | LRS | Wheel Tax |
|---|---|---|
| 2020 | 9,055 | 15,875 |
| 2021 | 9,235 | 15,990 |
| 2022 | 9,420 | 16,100 |
| 2023 | 9,610 | 16,215 |
| 2024 | 9,800 | 16,325 |
| Total | $ 47,120 | $ 80,505 |
The Town of Selma uses its MVH funds, averaging over $30,000 per year, for the salaries, operation and maintenance costs for its highway department. The LRS and/or Wheel Tax funds are available for use as local funds matching federal funds toward road improvements.
*Abbreviations: CUMBR - Cumulative Bridge Fund, LRS - Local Road & Street Account, MVH - Motor Vehicle/Highway Account, EDIT is Economic Development Income Tax.
The DMMPC, in accordance with the requirements of Federal Transit Administration (FTA) Circular 7008.1, has made an assessment of the financial capacity of the Muncie Indiana Transit System (MITS). The following narrative and tables show that MITS clearly has sufficient capacity to undertake its projects programmed within this document.
The tables below show the estimated cash flow for MITS, indicating that its projects in this program are financially constrained. The local matching required is within available funds. The costs are expected to increase at 2 percent per year in the future due to inflation. The future transit revenues are expected to keep pace with inflation. The estimated future MITS expenses were calculated using historic patterns.
| EXPENSE ITEMS | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Salaries | $ 3,345,022 | $ 3,411,920 | $ 3,480,160 | $ 3,549,765 | $ 3,620,760 |
| Fringe Benefits | 2,168,835 | 2,212,210 | 2,256,455 | 2,301,585 | 2,347,615 |
| Contract Services | 722,088 | 736,530 | 751,260 | 766,285 | 781,610 |
| Materials & Supplies | 1,143,645 | 1,166,520 | 1,189,850 | 1,213,645 | 1,237,920 |
| Utilities | 159,250 | 162,435 | 165,685 | 169,000 | 172,380 |
| Casualty/Liability | 315,000 | 321,300 | 327,725 | 334,280 | 340,965 |
| Machinery & Equipment | 287,510 | 293,260 | 299,125 | 305,110 | 311,210 |
| Other & Training | 628,400 | 640,970 | 653,790 | 666,865 | 680,200 |
| Total Eligible Expenses | $ 8,769,750 | $ 8,945,145 | $ 9,124,050 | $ 9,306,535 | $ 9,492,660 |