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COPTA accepts financial reports, highlights streetcar savings and approves $243,750 CDBG award
Summary
The board accepted financial reports showing revenues exceeding expenditures by $2.1 million for the four months ending Oct. 31, 2025; staff highlighted nearly $939,000 in streetcar savings from bringing operations in-house and the board approved a $243,750 Community Development Block Grant operating agreement to support passes for low- and moderate-income residents.
The Central Oklahoma Transportation and Parking Authority accepted its financial reports for the four-month period ending Oct. 31, 2025, and approved a Community Development Block Grant (CDBG) operating agreement and grant award with City of Oklahoma City Transportation Services.
Financial highlights: Staff reported that revenues exceeded expenditures by about $2.1 million for the period but noted revenues are roughly 2% below budget while expenditures are about 6% under budget (about $914,000 under). Staff identified unbudgeted business-development revenue (about $1,212,700 in actuals) and a timing variance of $621,501 related to a transfer from the general fund; staff also said an anticipated state subsidy payment of $648,000 was posted on Dec. 1. On the streetcar, staff and trustees noted savings from bringing operations in-house, with staff saying year-to-date expense reductions of about $939,000.
CDBG operating agreement: The board approved an operating agreement and grant award for the City of Oklahoma City Transportation Services to provide transportation benefits for low- and moderate-income citizens. The item cited an estimated program cost of $243,750 with estimated revenue of $105,000 and a retroactive period of 07/01/2025 through 06/30/2026. Staff said an earlier one-time in-kind contribution helped distribute an additional 8,000 passes during the prior year and recommended making the in-kind contribution permanent while continuing to monitor demand.
Board direction: Trustees expressed appreciation for staff work on revenue and cost-savings and asked for continued monitoring of any budget gaps; staff said they would return to the board if gaps grow.
Votes and procedure: The board moved, seconded and approved the financial reports and the CDBG agreement; the transcript records that motions passed but does not include a detailed roll-call tally.
