NCSU Transportation lost $2.8 million in revenue due to parking permit refunds and diminished visitor parking, according to Holt Craven, assistant director of finance for NCSU Transportation. Despite reducing their budget, NCSU Transportation will continue to provide services and maintenance during the pandemic.
Craven said for this academic year, their budget was $17.9 million, but they incurred revenue losses due to the pandemic. He said NCSU Transportation does not receive any funding from NC State, and makes their money from entirely visitor parking, parking permits and student transit fees.
Despite their loss in revenue, they continue to provide limited transportation services. Yolanda Jones, communications director for NCSU Transportation, said Wolfine will still be running, but at limited hours. She said because of the pandemic, between 500-1,000 people are riding the Wolfline each day.
Craven said NCSU Transportation spent around $6.1 million on the Wolfline alone before March 2020. Now, it is expected they will spend around $1.5 million between April and June, or around $500,000 per month.
In addition to transportation services, Craven said NCSU Transportation is still providing maintenance services on campus.
“Really, the most expenses that are still going on are our fixed costs, such as landscaping service, stormwater service, cellphones, internet, basically all of the fixed costs, we still pay every single month,” Craven said.
Another fixed expense Craven mentioned were payments to TransDev, the company that owns and operates the WolfLine. Each month, NCSU Transportation pays them a flat rate of around $393,000 and a variable service rate per hour.
Craven also said NCSU Transportation is paying to repave roads, repair decks and change lights to LEDs. It is expected the maintenance and fixed expenses will cost around $2.9 million for the remaining academic year from April to June.
However, NCSU Transportation is finding ways to save money. One way is through the Wolfline. The buses aren’t running as often, so they are able to save on fuel cost. Prior to the pandemic, NCSU Transportation was spending around $35,000 monthly refueling the buses. Now, they are expected to spend only $30,000 total for April, May and June.
Another way NCSU Transportation is saving money is by not being in the office. Craven said they have saved around $200,000 across all efforts.
As of now, Jones said NCSU Transportation does not have any plan for the next academic year.
“We are still in the throes of this event,” Jones said. “So, we do not have anything. Obviously, the university hasn’t made any decisions going forward or for a future, so at this point, we’re just waiting for a directive.”
NCSU Transportation is now focused on keeping students and staff safe during the pandemic. For those wondering about parking refunds, here is an article that has directions on how to receive it.
