Wave Transit’s operating budget for the fiscal year beginning July 1, 2010, is about $7.3 million.
Wave gets its money from several different sources, including fares from passengers and government funding. According to the budget, $755,000, or about 10 percent, comes from passenger fares.
The Federal Transit Administration is expected to pay about $2.4 million in 2010-11, or about 33 percent of the budget. The city of Wilmington is chipping in $1,175,000, about 16 percent. The University of North Carolina Wilmington is paying $797,500 for the Seahawk Shuttle, which takes students around campus. The N.C. Department of Transportation is paying about $1.1 million. New Hanover County and various county agencies that use Wave services are paying a total of just more than $1 million. Brunswick County and the towns of Leland, Belville and Navassa are paying a combined $31,500 for the Brunswick Connector, which connects Brunswick and New Hanover counties with a bus.
Where does the money go?
Here’s a breakdown of where the money goes, according to Wave’s budget for the current fiscal year. Salaries and benefits, and fuel are the big expenses.
Labor: $3.8 million.
Fringe benefits: $965,317.
Purchased services: $212,000.
Repairs and maintenance: $387,000.
Tires and tubes: $90,000.
Taxicab and leases: $63,000.
Office supplies: $12,000.
Other operating expenses: $285,854.
Date posted: October 7, 2010
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