HomeMy WebLinkAbout05-18-26 GREATER ROANOKE TRANSIT COMPANY
BOARD OF DIRECTORS
May 11 , 2026
Joseph L. Cobb, President, and Members
of the Greater Roanoke Transit Company
Board of Directors
Dear President Cobb and Members of the Board:
The regular meeting of the Greater Roanoke Transit Company Board of Directors will be
held on Monday, May 18, 2026 at 12:30 p.m., in the HR Learning Center, 3rd Floor
North, Room 309, Noel C. Taylor Municipal Building, 215 Church Avenue, S. W., Roanoke,
Virginia.
Sincerely,
Cecelia F. McCoy
Secretary
c: Valmarie Turner, City Manager
Angela O'Brien, Deputy City Manager
Laura M. Carini, General Counsel, GRTC
Troy A. Harmon, Municipal Auditor
Kevin Price, General Manager, Valley Metro
Ron Parker, Assistant General Manager, Valley Metro
GREATER ROANOKE TRANSIT COMPANY
BOARD OF DIRECTORS
Monday, May 18, 2026
12:30 P.M.
HR Learning Center
3rd Floor North
ROOM 309
ACTION AGENDA
1. Call to Order— Roll Call — Director Richard Peters, Jr. was absent.
2. Approval of Minutes: Regular meeting of GRTC held on Monday, March 16, 2026.
Without objection, the reading of the Minutes were dispensed with and approved.
3. Reports of Officers:
A. General Manager- Management Update:
1. Transit Diesel Fuel Costs
2. Walmart Transit Stop Update
3. TPAC Meeting Update
4. GRTC Ridership Update
Without objection, the Management Update was received and filed.
4. Authorization to approve and adopt Fare Free Election Day Service.
Adopted Resolution. (6-0)
5. GRTC Fare Increase Discussion.
Brief discussion held.
6. GRTC Financial Report.
Without objection,the Financial Report was received and filed.
7. Other Business.
8. Next Meeting: Special meeting to be held on Monday, June 8, 2026, at 7:00 p.m., at
Valley Metro, Third Street Station, 307 Salem Avenue, S.W.,for a Public Hearing to
receive public comments on proposed fare adjustments; and Monday, June 15,
2026,At 1:00 p.m., in the City Council Conference Room.
9. Recessed: Monday, June 8, 2026 at 7:00 p.m., at 1:45 p.m.
ArCEII y „Age
Greater Roanoke Transit Company(GRTC)
Board of Directors Meeting
Management Update
May 18, 2026
Planning and Special Projects
Transit Diesel Fuel Costs
The price per gallon for low-sulfur diesel has doubled over the last 90 days because of the on-going conflict in the Middle
East and related supply chain interruptions related to the Strait of Hormuz. Prior to the conflict,GRTC's cost per gallon
averaged approximately$2.20 per gallon. On average, GRTC is currently paying$3.85 to$4.00 per gallon.There have
been fluctuations in price over the same period (increase/decrease).To address this matter, GRTC is deploying all three
electric buses, reducing engine idle times, and exploring any additional revenue or cost saving opportunities.
Walmart/Valley View Transit Stop—UPDATE
On-site transit bus testing and ADA compliance matters have been successfully completed.Valley Metro has since
recommended to Walmart that instead of installing one extra-large shelter,the installation of two large shelters with a
cart corral and leaning rails would better suit the current passenger activity levels.Walmart has agreed to this
recommendation and incorporated this change into their plans. Construction activities have begun,which required the
temporary relocation of the existing stop.The temporary stop is located just north of the former location adjacent to the
Walmart fuel station.
TPAC Meeting Update
On April 9, 2026,TPAC held a virtual meeting via Zoom Meeting. Updates on transit bus shelter installs, route detours,
ridership, andtmiscellaneous follow-up items were the topics of discussion. Staff also responded to questions from TPAC
members.The minutes from the April 9, 2026, meeting are included in the GRTC Board Packet.
Greater Roanoke Transit Company
P.O.Box 13247 Roanoke,Virginia 24032 Phone:(540)982-0305 Fax:(540)982-2703 www.valleymetro.com
GRTC Ridership Update
I1
I 1 i
1FY2026 = ,r - .July' August ,September October November December_ January FeFbruary • March ;April • May ` June•" YearTotal.
(City Routes ri100,603 1 99,299 100,173 109,175 1 94,058 195,588 85,001 95,903 L 99,875__I I 879,675
'S�martWay-Base:-_ 3,010" 3,171 3;467 4,532 " 3,372'~ 3,459 3,129'_ 3,296 4,782 ,° 32,2181
!Smart Way-Amtrak r221 325 � 519 634 1 1,060 1 1,364 550 J 428 1 315� a - 5,416
Smart,WayExpress 1,092" -1,372 2,054 2,265 1,509 1,144 _1,273 1,890 1,976, 14,575 1
1Star Line Trolley T 5,229 1 5,782 5,299 5,044_1 4,368 4,750 I 4456 4,621 4,753 �� 1 44,302
!STAR 8,155 `.8,453 - 7,115 6;745 7,176_ 5,362 _ 5745. 5,869 ` 6,171; 60;791 1
1MetroFLX 1 1,728 1 1,772 1,638 1 1,637 1 1,712 1 1,462 I 1,437 507 ! 1,652 1� I 1 14,545
ITotal ? °`120;038 120,174 _ 120,265 I 130,032 , 113,255 ,113,129 101591 113,514 , 119,524 0 0 0. 1,051,5221
IYTDTotal 1 120,038 240,212 ! 360,477 i 490,509 603,764 ! 716,893 l 818,484 931,998 11,051,52211,051,52211,051,52211,051,5221_
I
FY2025 ° . :_ July August September, October, November- December January- February -March` April " -:`„May- - June- " YearTotal
!City Routes _ 1 108,763 [ 112,615 [ 103,468 118,88 0 ; 106,260 1 97,756 1_95,917 L 84,954 [ 92,131 1 103,398 1 100,004 1 95,190" 1,219,336
Smart Way_Base - 2,906 3,771 3,577i 4,327 1. . 3,599 4,069 -- 3,286 .3,052 3,795- 3,967 ' 3 861 2,941 43,1511
Smart Way-Amtrak I 689 L 754 642 1 887 614 j 291 r 562 517 I904 785 1 424 7,707
ismart Way Express ,1,597� 1796 1,548 2,233 _1,677 - _1,082 1,305 1,726 1526 _2,33_3 1,183 950 18,_956 -1
Star Line Trolley 5,372 1 µ 5,585 E _ 5;289 5,934 5,248 I 5,073 5,031 4,957 1 5,428 1 5,902_�5 500 ? 5103 W64,422
6` ARl- ' 1 ! _' -7,016 _ 7,150 7,852 7,803 7,504 6,4561 6,339 `6,220 7 252. 8,167 1 6,800 7,424:' 85,983 _11MetroFLX I 1,0661 1,180 1 1,316 1 1,285 T-1,453 -1 1,361 1 1,457 1- 1,445 1,475 1 1,812 1,502 I 1,525- 16,877
'Total' '; :127,409. 1132,735 ,123;804 1 141,104 .126,628 116,411 . •113,626 102,916-.112,124- 126;483 - 119,635- 113,557 1,456,43211
YTD Total 127,409 1 260,144 383,948 1 525,052 j 651,680 768,091 1881,717 984,633 1,096,757 1,223,24011,342,875 1,456,432
.., t ;,. � • r „ fir .y s�°?, �L-i--. ,.,MI-
FY2024 July August a Sepfembe1 October `November`Deeembe`rJanuar February `MV rch Apnl ;.,May ; June =�YearTotal_
!City Routes I 90,824 1 101,999 1 93,429 1 97,155 �97,893 ,_97,679 L92,928 1 103,864 1-98,019 1 105,3961 108,287 1 101,320 _ 1,188,793_
,Smart Way Base _2,641. 4,202 . 2,816 11,2,578 3,718. 2 242" 884 806 895- ' 2,170 - 3,700 3 038- •. 29,690
Smart Way-Amtrak 586 _r 877^�~ 955 1 1,258 1,264_1 942i 579 L 4421 .503 I 694 1�864 I^ 408LL 9,372_
Smart Way Express 851 1,115 1294 2,350 2,053 1,188 1,835 _2,295 1,891 1,860 _ 11,257 1656 19,645 j
;Star Line Trolley 1�4,979 L 5,401 i 4 825 .�-5,311 �4,905 1 3,915 4,928J 5,173 j5,046,1 5,440J 5,417 I 5,004 60,344
`STAR 6,196 6,969 I . -6,608 7,004, - 7,092 6,652- _6,508. 7,363 _ 7,025 -'7,586 7,396 :,_ 6,746_ 83-145 .I
,MetroFLX i~ 1- --I- �+j I I I 20 1- 743 7 802 1 922 1 1,073 ? 1,199 4,759
,Total 1` 106,077 120,563 109,9271" 115,656 116,925 , 112,618 107,682 120,686 114,181 124,068 127,994 119,371 - 1,395,748I
1YTDTotal ! 106,077 1 226,640 1 336,567 1 452,223 1 569,148 1 681,766 1789,448 1 910,134 11,024,31511,148,38311,276,37711,395,7481
vin . Price
Gen al Manager
Copy: Vice President of Operations
Assistant Vice President of Operations
Treasurer
Secretary
GRTC General Counsel
Municipal Auditor
Greater Roanoke Transit Company
P.O.Box 13247 Roanoke,Virginia 24032 Phone:(540)982-0305 Fax:(540)982-2703 www.valleymetro.com
1108 Campbell Ave SE
' Roanoke,VA 24013
VsaIUey P : 540-982-2222/F : 540 982 2703
www.valleymetro.com
'MeetVC,
TPAC Meeting Notes from A ri19, 2026
April 9, 2026—6:30pm
Virtual Meeting
1. Welcome/Roll Call
TPAC Member Present
Steve Grammer X
Laura Hartman X
Cole Kiester
Sean McGinnis X
Ginny Pannabecker
Alison Stinnette X
Hope Trachtenberg-Fifer X
Sharon Fritz X
Vacant
GRTC
William Long X
Guest
Yvonne French X
Jeff Richards X
b. Approval of the February Notes
• Notes from last time - got approved via email
2. GRTC Updates
a. Stop/Shelter Updates
• New design for signs. This project has multiple steps.
o New signs will feature: bus icon and logo and"bus stop"text(roughly 7 feet);
and lower sign with specific information like bus stop sign, routes served, braille,
snow route indicator
o Smart Way sins may be somewhat different.
o Trolley signs may be somewhat different. (It's hard to keep these up to date as
route frequency changes!)
o Rollout: original plan was to pilot it along one route (especially a route whose
signs use"own poles"rather than signs being placed on other structures -that
would require(permissions etc.)
o Discussion of now route indicator and how much it needs to be spelled out for
riders.
o Discussion of braille - lower part of sign, needs to be narrow so it doesn't stick
into the sidewalk too far. Braille portion includes stop number and phone number.
o How much is a sign and where does the money come from?Answer: don't know
specifically, could be from some COVID money that was allocated for shelters
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1108 Campbell Ave SE
�� Roanoke,VA 24013
Weil I I y P : 540-982-2222/F : 540 982 2703
INOWMII.CD www.valleymetro.com
and screens; but also there is a line item in the budget for capital improvements.
(We will need to have new poles in addition to the signs, so yes it will be a lot of
money.)
o Alison has some information about stop improvements allocations.
o As far as we know there is not a financial deadline for this project.
• Bus stop placement
o Williamson Road pilot project is causing us to ask why the stops are where they
are. Many are legacies of older era.
o Stop at 7-11 on Williamson- creating a situation where cars were passing it on
the right.
o Bringing up this stop caused Valley Metro folks to consider other stops'
placement as well. This is potentially a big project.
o Melrose EB at 1 eck did get moved but it was moved to a place where the business
had closed so permission was easier to get to.
o Alison asks: how is it going, to work in coordination with Williamson Road
project? William has been attending the steering committee meetings. 6 month
pilot is completed, waiting on crash data to see if collisions are down, so we are
waiting on that(3 more months to get data). End of summer is deadline -repaving
is scheduled and striping will be impacted.
o Alison asks: is there a role for RVARC to help find funds for bus stop
improvements along Williamson or elsewhere?Answer-yes, will reach out and
work on this.
b. Routes/Schedules
• Riverland Road Detour- 41/42 affected. Closed for 300 days. Starting this month
sometime.
o Question from Hope: could we use alternate size vehicles?Rent them?
o Garden City area doesn't get much ridership. Unclear how important it is to
leverage funds to service this area.
o Perhaps any affected riders can call a supervisor to pick them up.
o We are concerned about riders' needs.
o Riders are being informed on the app and the website.
o Suggestion: contact drivers who drive this route and ask if they know of anybody
who might be affected by this, and figure out accommodations on a case by case
basis.
• Wasena bridge set to open in early June.
• We anticipate some street closures related to spring/summer events (e.g. Grandin
chillage). Alerts go out on the app, social media, web.
o Question: why not Valley Metro as a shuttle for events at Berglund Center?We
think we are low on staffing and that's why VM doesn't get that gig any more.
c. Ridership
• Somewhat lower-weather related in January
• Laura asks - slight reduction in trolley usage
• STAR is getting a little dip as well
Page 2
1108 Campbell Ave SE
' Roanoke,VA 24013
Vealley P : 540-982-2222/F : 540 982 2703
WW1"VC, www.valleymetro.com
• Laura asks whether incrleasing ridership is a stated goal within Valley Metro. William
mentions ridership/coverage tradeoff. Coverage does seem to be a higher priority overall.
• Alison is offering to help with advertising if we do want increased ridership! They are
doing some advertising for RADAR and will note how it works.
• Hope is suggesting we could do partnerships with businesses that could resell our bus
passes
• Steve asks if we have made progress on bus service extensions into the County. William
says that long term we think so,but blames COVID for derailing everything, and unlikely
to change in the shorter term.
• Steve asks if there is an update about Valley View Wal Mart Bus stop.
o William: they dd meet with construction crew about parking lot renovations.
Seems very likeily there will be a new stop at Walmart and one route will service
Walmart more directly than it does now. It will be ON the Walmart property
rather than where it is now. (In the parking lot, which will be somewhat
challenging on busy shopping days, and we need to make sure the pavement is
ready for it.) There will be a new stop but the final form/location is not finalized.
Timeline relate to their construction plans.
o Steve asks: Would it be possible to get someone from Walmart to meet with us?
Recommend no!xt time a connection is made, please include us
o They have done testing with buses to make sure they will fit
d. Follow-up Items
• There was a question about MetroFLX operators and their relationship with the union. If
MetroFLX was brought in-house,then operators would be part of the union. But as a
contracted service,they are not.
o Hope brings up the driver shortage. What is the status?
o Hope wishes we had been informed about the article in advance.
o Driver shortage discussion: Laura strongly asserts that a system that relies on
overtime is not sufficient and is not fair or good. Riders need a more reliable
system. What are we doing to get more drivers?The time of pointing to COVID
and having an excuse of understaffing is well past. We deserve better(and so do
the drivers).
o Back to MetroFLX-why was it not brought"in house" after the 2 year pilot
program? We think it was determined that we had money to keep it going as is, so
that's what we did.
• TPAC applications are open! Spread the word!
• Moorman at 8th and 9th
o These stops need larger accessibility investments -we need a sidewalk... and then
a bench etc.
o Laura: Can GTTC board please lobby the city for better sidewalks around bus
stops??
o These stops are on the list, and have been ranked.
4. Questions/Comments
Page 3
1108 Campbell Ave SE
Roanoke,VA 24013
Walley ' P : 540-982-2222 I F : 540 982 2703
MOIM1111.14X www.valleymetro.com
• City budget open meetiljig, 6:30-8, April 16, South Roanoke United Methodist. There is
also a public hearing onl April 23.
• Hike to fares to $2... how does this affect rates for other types of tickets (discount fare,
STAR service, etc.)?Llura notes that through BRRAG we have not heard complaints;
most people shrug and say it's still a good deal.
• Board member attending this TPAC meeting?They just didn't delegate someone to do it
last time in the GRTC meeting- oops! We hope someone can join us next time.
• Rumored: some routes nay need to be cut due to reduced budgets/low staffing. William
says no,he has not heard about this.
• Sharon: there is a new bench and cover at Lewis Gale (fabric sun shade) -we love it and
are curious who is responsible so we can thank them! William thinks it was probably
Lewis Gale, not city of Salem. Justin Graham at CBRE may be the guy behind it.
5. Next Meeting-June 11 at 6:30 pm
6. Adjourn
Additional Notes
Discussion items in need of follow up for the next meeting:
• We would like a board member to attend our TPAC meeting in June
• We would like updates on the Valley View Wal Mart bus stop, and if anyone from Wal
Mart meets with Valle Metro we would like to be invited to join the meeting to offer a
rider perspective
• We would like to know how the fare hike will affect discounted fares and STAR fares
• We would like the GRTC board to lobby the city for better sidewalks around bus stops.
Bus stops should be top priority for sidewalk construction, since we know that people
must walk to and from the bus stop.
• We would like to know what the GRTC board is doing to recruit more bus drivers.
• We would like to know whether increasing ridership is something Valley Metro is tasked
with doing, or whether we are content with our current numbers. If increasing ridership is
a goal,we are curious about current plans for publicity and for making ticket acquisition
easier. If it is not a goal, we are curious why not.
Page 4
Wes,ley -.1011,11111hl
Greater Roanoke Transit Company
Board of Directors Meeting
May 18, 2026
Honorable Joseph L. Cobb, President, and Members and Officers of the Board of Directors
Greater Roanoke Transit Company Roanoke, Virginia
Subject: Authorization—Fare Free Election Day Service—April 21, 2026
August 4, 2026
November 3, 2026
Background
On Tuesday April 21, 2026 (Special Election), Tuesday August 4, 2026 (Virginia Primary Election), and
Tuesday November 3, 2026(General Election), Valley Metro will provide fare free transit service on all
services. The lack of affordable t iansportation to polling locations is often mentioned as an obstacle in a
citizen's quest to exercise their right to vote. On the Election Days mentioned earlier, registered voters
can exercise their right to vote a 'd select transit as their mode of transportation.
Fare Free Election Day Transit Service provides an affordable option for citizens looking to access their
local polling location to cast their ballot.
Recommendation
Authorize the provision of Fare Free Election Day Transit Service on Tuesday April 21, 2026 (Special
Election), Tuesday August 4, 2026 (Virginia Primary Election), and Tuesday November 3, 2026(General
Election).
Respectfull .ubmitted,
evil . Price
Ge , ral Manager
Cc: Vice President of Operations
Assistant Vice President of Operations
Treasurer
Secretary
General Counsel
Municipal Auditor
Greater Roanoke Transit Company
P.O.Box 13247 Roanoke,Virginia 24032 Phone:(540)982-0305 Fax:(540)982-2703 www.valleymetro.com
BOARD OF DIRECTORS OF GREATER ROANOKE TRANSIT COMPANY
•
A RESOLUTION ratifying, approving, and adopting Fare Free Election Day Service for
• Tuesday, April 21, 2026; Tuesday, August 4, 2026; and on Tuesday, November 3, 2026, for the
Greater Roanoke Transit Company (GRTC) DBA Valley Metro; and authorizing the General
Manager of GRTC to take appropriate action to implement such Fare Free Election Day Service
for Tuesday, April 21, 2026; Tuesday, August 4, 2026; and on Tuesday, November 3, 2026 for
Election Day.
WHEREAS, at the March 16, 2026, Board of Directors meeting, the Board moved,
seconded, and approved Fare ree Election Day Service for Tuesday, April 21, 2026; Tuesday,
August 4, 2026; and on Tuesday, November 3, 2026, for the Greater Roanoke Transit Company
(GRTC) DBA Valley Metro; and
WHEREAS, this Resolution is intended to formally memorialize and ratify that prior
action.
BE IT RESOLVED by the Board of Directors of the Greater Roanoke Transit Company
as follows:
1. The Board of Directors hereby ratifies, approves, and adopts Fare Free Election Day
Service for Tuesday, April 21, 2026; Tuesday, August 4, 2026; and on Tuesday, November 3,
2026.
2. The above passenger Fare Free Election Day Service shall be effective on Tuesday,
April 21, 2026; Tuesday, August 4, 2026; and on Tuesday,November 3, 2026.
3. The General Manager of GRTC is hereby authorized to take appropriate action to
implement and administer the Fare Free Election Day Service for Tuesday, April 21, 2026;
Tuesday, August 4, 2026; and on Tuesday, November 3, 2026, set forth above, subject to any
needed approval by the Council of the City of Roanoke.
ATTEST:
- Ge-
Secretary.
GREATER ROANOKE TRANSIT COMPANY
PROPOSED TRANSIT FARE INCREASES
CASH CURRENT FARE PROPOSED FARE Cost per ride
ADULT FARE 0.75 $2.00 n/a
DISCOUNT FARE $0.85 $1.00 n/a
VWCC(FREE/ID) $11.75 $2.00 n/a
RCPS STUDENTS $0.85 $1.00 n/a
1
TICKETS 1
1 RIDE BASIC $1.75 $2.00 n/a
1 RIDE $0.85 $1.00 n/a
DISCOUNT/STUDENTS
1
PASSES 1
24 HR. - BASIC $3.50 $4.00 n/a
24 HR. DISCOUNT $1.70 $2.00 n/a
1
15 RIDE- BASIC $20.00 $24.00 $1.60 •
15 RIDE-DISCOUNT $10.00 $12.50 $0.83
7 DAY- BASIC $16.00 $18.00 Unlimited
7 DAY- DISCOUNT $8.00 $9.00 Unlimited
31 DAY- BASIC $56.00 $60.00 Unlimited
31 DAY- DISCOUNT $28.00 $30.00 Unlimited
1
STAR-SINGLE RIDE $3.50 $4.00 n/a
STAR-MONTHLY UNL $112.00 $128.00 Unlimited
unCA I Cn IWMIV VIC I fM1V31 I I.UJVII MIV T
(A Component Unit of the City of Roanoke,Virginia)
Statement of Net Position(Unaudited)
As of February 28,2026
Assets
Current Assets: February FY26 February FY25 $Change %Variance Commentary
Cash and Cash Equivalents $ 2,005,218 $ 1,985,630 19,588 1%
Cash and Cash Equivalents MetroFlex 304 679 609,907 ARPA funding exhausted as of 12/1/2025.DRPT pilot program cash has to be
q (305,228) -50%
applied for.
Grants Receivable Operating&Capital 1,121,297 1,121,297 #DIV/0! Grant draw requests were behind/lagging in FY25.A flurry occurred later at year
end 6/30/25 to catch up.
In FY26 collection practices have improved immensely leading to less outstanding
General Accounts Receivable 101,416 192,330 (90,914) -47% accounts.Revenue is also down year over year resulting in less to bill to receivables
accounts.
Our local assistance partners and advertising are billed under this account(Salem,
Other Accounts Receivable 37,615 147,085 (109,470) -74% Vinton,VWCC,etc.).In FY26 collection practices have improved immensely leading
to less outstanding accounts.
Inventory-Fuel,Lubricants&Parts 569,532 491,865 77,667 16% Carrying-more-bus-parts-instocksince Februacy_of FY25.1n_or_de.t_to keep up with an
aging fleet of buses ordering practices were improved.
Total Current Assets $ 4,210,886 $ 3,491,687 $ 719,199 21%
Capital Assets:
Land $ 1,627,487 $ 1,627,487 - 0%
Leased Assets 80,497 - 80,497 #DIV/0! RJ Young Leased Asset on the books now per GASB 87.Audit Requirement.
Buildings,Structures and Improvements 22,151,963 22,151,963 - 0%
Buses&Related Equipment 26,409,163 24,392,343 2,016,821 8% 3 new electric buses acquired in April 2025
Shop and Garage Equipment 3,592,535 3,467,839 124,695 4%
Office Equipment and Furnishings 702,285 702,285 - 0%
Construction in Progress 281,591 84,915 196,676 232% Bus shelter construction really ramped up near the end of FY25(Post February)
coupled with the new Valley Metro website design costs.
Accumulated Depreciation (26,770,417) (24,571,217) (2,199,200) 9%
Accumulated Amortization (14,758) (14,758) #DIV/0! Lease Liability-RJ Young Printer/Copier per GASB 87.This account nets against the
original asset value of$80,497 to present a"carrying amount."
Capital Assets,Net $ 28,060,345 $ 27,855,614 $ 204,731 1%
Total Assets $ 32,271,231 $ 31,347,301 $ 923,930 3%
Liabilities
Current Liabilities:
Accounts Payable 909,634 414,350 495,285 120% In FY25 Metro-Flex&Radar purchased svcs were accrued under the line below.
When combining these two lines the difference is reasonable year over year.
Other Accrued Purchases 8,022 408,867 (400,846) -98% See explanation on Accounts Payable line above.
Lease Liabilities 65,444 - 65,444 #DIV/0! Lease Liability-RJ Young Printer/Copier per GASB 87.
Accrued Leave 203,516 235,212 (31,696) -13% Trued up annually at year end.
Unearned Revenue 336 609,906 (609,570) -100% ARPA funding exhausted as of 12/1/2025 •
Total Current Liabilities $ 1,193,200 $ 1,679,679 $ (486,479) #DIV/0!
Net Position
Net Investment in Capital Assets $ 28,060,345 $ 27,855,614 204,731 1%
Unrestricted 3,017,686 1,812,008 1,205,678 67%
Total Net Position $ 31,078,031 $ 29,667,622 $ 1,410,409 5%
(.RtAI ER ROANOKE TRANSIT COMPANY
(A Component Unit of the City of Roanoke,Virginia)
Statement of Revenues,Expenses and Changes in Net Position(Unaudited)
For the Eight Months Ended February 28,2026
(A)-(B) (A-B)/B (C) (A)-(C) (A)-(C)/C
(A) (B) Actuals Budget
Feb FY26 Feb FY25 $Change %Variance Feb FY26 $Variance %Variance Commentary
Operating Revenues:
Charges for Passenger Fares $ 725,370 $ 824,058 (98,688) -12% $ 958,997 $ (233,627) -24% March&April reported ridership higher than same month in prior year.
Operating Expenses:
Labor-Salaries,Wages and Fringe Benefits $ 4,888,405 $ 4,555,047 333,358 7% 5,055,119 166,714 3%
Purchased Services-Transportation 2,963,768 2,945,367 18,401 1% 2,452,733 (511,035) -21% Under-budgeted for this in FY26
-Materials&Supplies 879,813 753,283 126,530 17% 913,530 33,717 4% Fuel Prices
Purchased Services-Other 672,441 608,089 64,352 11% 775,648 103 207 -13% Under-budget.FY2Tbudgt ser13%!oWer.
Utilities and Insurance 389,466 366,603 22,863 60/0 322,635 (66,831) -21% Inflationary Pressure
Other 72,246 59,288 12,958 22% - (72,246) #DIV/0!
Amortization 8,050 8,050 #DIV/0! (8,050) #DIV/01 No budget nor prior year data for this line item.Capitalized Leases are
new accounting territory for GRTC.
Depreciation 2,091,763 1,999,978 91,785 5% - (2,091,763) #DIV/0! Non-cash expense,haven't historically budgeted for depreciation
expense.
Total Operating Expenses $ 11,965,951 $ 11,287,655 678,296 6% 9,519,665 (2,446,286) 26%
Operating Loss $ (11,240,581) $ (10,463,597) (776,984) 7%
Nonoperating Revenues(Expenses):
Operating Assistance-Federal $ 2,734,138 $ - 2,734,138 #DIV/0! Federal grant revenues are lagging behind budget.Accordingly,FY27
Federal Capital Maintenance Grants 478,871 521,249 (42,378) -8% 3,936,074 (608,599) -15% budget for this particular subsidy hasn't increased.
Capital Contributions-Federal 114,466 - 114,466 #DIV/0!
Operating Assistance-Commonwealth 2,594,477 3,000,183 (405,706) -140/0 FY27 Commonwealth subsidy budget projection much higher than FY26
Capital Contributions-Commonwealth - - - #DIV/0! 2,128,895 1,344,887 63% (27%),
Operating Assistance-Metro Flex 879,305 845,397 33,908 4%
Operating Assistance-City of Roanoke 2,370,586 2,162,308 208,278 10% 2,370,586 - 0% Expected to drop per FY27 budget
Operating Assistance-Other Localities and NonProfits 536,978 558,566 (21,588) -4% 748,981 (212,003) -28%
Advertising Income 82,442 121,931 (39,489) -32% 133,333 (50,891) -38%
Interest and Miscellaneous Income 60,348 29,074 31,273 108% 1,900 58,448 3076%
Total Nonoperating Revenue $ 9,851,609 $ 7,238,707 2,612,902 36% 9,319,769 531,841 6%
Change in Net Position $ (1,388,972) $ (3,224,890) 1,835,918 -57%
Total Net Position,Beginning $ 32,467,003 $ 32,892,512 (425,509) -1%
Total Net Position,Ending $ 31,078,031 $ 29,667,622 1,410,409 5%
GREATER ROANOKE TRANSIT COMPANY
(A Component Unit of the City of Roanoke,Virginia)
Statement of Cash Flows(Unaudited)
As of February 28,2026 and Year Ended June 30,2025
Year-Ended
February FY26 6/30/2025 Commentary
RECONCILIATION OF OPERATING LOSS TO NET CASH USED IN OPERATING ACTIVITIES
Operating Loss (11,099,109) (16,076,764)
Adjustments to reconcile operating loss to net cash used in operating activities:
Depreciation and amortization 2,099,813 . 3,034,039 non-cash expenses
Changes in assets and liabilities:
Decrease(increase)in accounts receivable 203,120 187,984 Improved collections
Decrease(increase)in supplies,materials&inventory (68,099) (28,073) More inventory on hand
—Decrease-(increase)-in-other-assets (64,670) (2,750)
Increase(decrease)in cash overdraft - (102,127) Positive cash balance in the bank at both 6/30/25&2/28/2026
Increase(decrease)in trade accounts payable (10,166) (684,129)
Increase(decrease)in accrued salaries and benefits (218,171) 16,214
Increase(decrease)in unearned revenue and due to FTA (293,128) (1,081,341) ARPA money exhausted
Net cash used in operating activities (9,450,410) (14,736,947)
NONCAPITAL FINANCING ACTIVITIES
Non-capital grants received 9,115,483 15,752,597 Operating from commonwealth,feds,COR and local partners
CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets(net of disposals) (169,236) (3,261,240) Garage Equipment;smaller items
Capital contributions 593,337 2,767,722 Preventative Maintenance Federal&Federal Capital grants
Principal paid for lease liability (7,573) (7,481)
Net cash used in capital and related financing activities 416,528 (500,999) •
INVESTING ACTIVITIES
Interest income received 1,318 2,207
Net increase(decrease)in cash,cash equivalents and restricted cash 82,919 516,858
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of year 2,230,688 1,713,830
End of Reporting Period 2,313,607 2,230,688
Change in cash balance 82,919 516,858
RECONCILIATION TO CASH ON THE STATEMENT OF NET POSITION
Cash and cash equivalenets 2,008,928 1,754,268
Restricted cash and cash equivalents 304,679 476,420
$ 2,313,607 $ 2,230,688