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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Kensey Kunkel, Manager Fare Strategy |
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TITLE:
title
Fare Agreement: Funding for Salt Lake School District Passes (Salt Lake City Corporation)
end
AGENDA ITEM TYPE:
Service or Fare Approval
RECOMMENDATION:
Authorize the Executive Director to execute a Funding Agreement for Salt Lake School District Passes with the Salt Lake City Corporation
BACKGROUND:
The Salt Lake Education Foundation, Salt Lake School District, and Utah Transit Authority will enter into a one-year education pass agreement to provide local transit passes to all students, faculty, staff, and one parent or guardian per household for the upcoming 2023/24 school year. The details of the agreement can be found in contract no. 22-F0280-1.
The total value of the Education Pass Agreement is $493,209. Of the total, the District and the Foundation will pay $279,000 through contract 22-F0280-1. The remainder of the agreement ($214,209) will be subsidized through a funding agreement (23-F0355) with the Salt Lake City Corporation.
DISCUSSION:
UTA will enter into a Funding Agreement for Salt Lake School District Passes with Salt Lake City Corporation in the amount of $214,209.
CONTRACT SUMMARY:
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Contractor Name: |
Salt Lake City Corporation |
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Contract Number: |
23-F0355 |
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Base Contract Effective Dates: |
August 1, 2023 through July 31, 2024 |
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Extended Contract Dates: |
NA |
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Existing Contract Value: |
NA |
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Amendment Amount: |
NA |
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New/Total Contract Value: |
$214,209 |
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Procurement Method: |
NA |
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Budget Authority: |
NA |
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ALTERNATIVES:
Do not approve the funding agreement with Salt Lake City Corporation to subsidize passes for the Salt Lake School District, subsequently losing revenue and ridership
FISCAL IMPACT:
Additional $114,000 in contract revenue as compared to previous 2022/23 school year.
ATTACHMENTS:
Funding Agreement