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May financials: fare revenue beats budget; $9.3M supplemental local income tax boosts May results
Summary
CFO Justin Burkhoff reported that Indigo’s May fare revenue exceeded budget by about $68,000 (13.9%) and year-to-date revenue is $186,000 (7.5%) above budget; the agency also received a $644,000 reimbursement and a $9.3 million supplemental local income tax distribution in May.
Justin Burkhoff, chief financial officer, presented the May 2026 financial report and said fare revenue for the month exceeded budget by approximately $68,000 (13.9%) and is about $186,000 (7.5%) above budget year-to-date. He also said Indigo received a $644,000 reimbursement from the city for sanitary utility relocation work related to the Blue Line and a $9.3 million supplemental local income tax distribution during May that materially increased revenue for the month.
Burkhoff described expense variances: fringe benefits were over budget for the month due to two invoices for on-site and off-site medical clinic services, and claims expense caused other services and charges to be over budget for the month, though offsets in other categories left Indigo under budget overall. He said Indigo finished May approximately $1.4 million under budget and $9.9 million under budget year-to-date.
Board members asked about overtime trends; Burkhoff said ongoing shortages in operations have driven overtime higher but that the increase has been partially offset by underspending on salary.
