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WHAT HAPPENED?
In the July IndyGo board of directors meeting, the 2025 budget was announced totaling $342.2 million.
Chief Financial Officer Bart Brown said the total proposed budget is $342.2 million. Of the 2025 budget, $146.8 million is operating expenses, $179.5 million is capital budget, and $15.9 million is debt service.
Brown said a little over 60% of the operating budget comes from tax revenue, while fares account for $5.9 million. And 20% of the proposed operating budget comes from federal stimulus money. Brown said these funds should last through 2029.
TAKEAWAY
According to IndyGo, the funding sources for the 2025 capital budget include $92.4 million in capital grants, $24.4 million in cash from local project funds and $62.7 million in bond proceeds.
Brown said the presentation is an introduction. There is a public hearing for residents to share thoughts on Aug. 8. The board will vote to adopt the budget on Aug. 21.
WHAT’S NEXT?
The next IndyGo board of directors meeting is 11 a.m. Aug. 8 at 9503 E 33rd St. in the B board room.
This brief is adapted from notes taken by Documenters Nathaniel Eichenhorn and Bréone Dupree, who covered the July IndyGo board of directors meeting. Read more about what happened here. Want to join Documenters? Learn more here.
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