BY THE NUMBERS* $674,800: Chattanooga Area Regional Transportation Authority’s 2009-2010 fiscal year diesel fuel budget* $620,909: How much money CARTA has spent this fiscal year on diesel* $2.05: How much CARTA is now spending for a gallon of diesel fuelSource: Chattanooga Area Regional Transportation Authority
Rising diesel prices could be a concern for city transportation officials in coming months.
“We’re not going to end up with a lot of money at the end of this year,” said Tom Dugan, executive director of the Chattanooga Area Regional Transportation Authority.
CARTA’s board of directors met Thursday morning and was given a report on the financial status of the transportation authority. Mr. Dugan handed out a graphic to board members, showing a steady increase in diesel prices over the past year.
For example, the transportation authority spent about $1.50 this time last year for a gallon of diesel, compared with $2.05 now.
Steve Jett, chairman of the board, said the fallout from higher diesel prices could have been even worse. The graphic at least shows a gradual increase and not a huge spike, he said.
“We’ve been extremely lucky, so far,” he said.
Board member Joe Hutcherson raised a question about what could happen when tourism starts to increase and gas prices traditionally go up.
“What do we project for the summer months?” he asked.
Mr. Dugan replied that the transportation authority has enough money budgeted to last it until the end of the fiscal year on June 30.
“We’re under budget, so far, this year on diesel fuel,” he said.
CARTA has $674,800 budgeted for diesel fuel, records show. Mr. Dugan said so far $620,909 has been spent on fuel this year.
He said the transportation authority will begin budgeting for the 2010-11 fiscal year next month.