TITLE
Title
5307 FEDERAL TRANSIT ADMINISTRATION FY2024 FUNDING ALLOCATION
end
SPONSOR
Sponsor
Sharon Barlow, Social Services Director
end
BACKGROUND
Background
The Federal Transit Administration (FTA) allocates funds to each Urbanized Area (UZA) in the United States with a population greater than 50,000 people by way of the Urbanized Area Formula Program (Section 5307). Guilford County Transportation applied for and has been approved for these grants for many years. Normally, the is grant is included in the annual budget each year, with the grant year lagging one year behind the County’s fiscal year - for example, the FY 2025 budget would normally reflect FY 2024 grant funding. Due to changes by the State Department of Transportation (NCDOT) in their role in administering the grant funding and the associated timeline delays authorizing Guilford as a direct recipient, the County did not utilize the FY 2023 grant in County FY 2024 as normal so the County has both the FY 2023 and FY 2024 grants to spend in County FY 2025. The adopted FY 2025 budget only included the FY 2023 grant in the amount of $105,000 so a budget amendment is needed to reflect the FY 2024 grant revenues in the amount of $94,198. There are already sufficient funds in the existing budget for both the FY 2023 match of 100% of $105,000 and the FY 2024 match of 100% or $94,198 ($199,198 total). In addition, the Board of Commissioners also needs to approve the receipt of both the FY 2023 and FY 2024 grants due to the County match requirements.
5307 grant allocations are determined through a formula that considers population size, population density, low-income population, reported revenue miles, passenger miles, and operating cost. Guilford County has 4 years to draw down funds once they are allocated and noticed in a NCDOT 5307 Small Urbanized Area Split Letter. This means the County has until September 2028 to use FY 2023 grant funds and until September 2029 to use FY 2024 grant funds. St...
Click here for full text