Fare Policy. Discussion Document November 23, 2015
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1 Fare Policy Discussion Document November 23, 2015
2 Key legislation regarding fare levels 2013 Session Law Chapter 46 SECTION 6A. Set goal of an increase in the farebox recovery ratio of at least 10 per cent for each rolling 5-year period SECTION 61. (a) The authority s budget as approved by the board of directors ensure that the budget includes sufficient revenue from [own] sources of revenue to meet the following benchmarks: (iv) in fiscal year 2017, the authority shall contribute per cent of the authority s operating budget; (d) The authority shall not increase fares at intervals of less than 24 months or at an annual rate greater than 5 per cent. 2
3 Fare Policy objectives Increase Revenue - Increase ridership with affordable fares that are easy to pay - Reduce costs of fare collection - Maximize collection of all fares Improve Service - Facilitate quick and easy boardings - Shift ridership to off-peak times -Minimize customeremployee conflicts Advance Regional Goals - Promote regional mobility - Assist in meeting mode shift goals -Be equitable and meet all civil rights requirements - Respect customer privacy 3
4 Trade-offs There are explicit tensions in meeting all of the fare policy objectives Increasing revenue can be at odds with regional goals for public transport Fare levels need to be set to increase ridership and to collect revenue necessary to provide the service for that ridership 4
5 Farebox Recovery Goal Should the MBTA have a Farebox Recovery Ratio goal? How do we meet the legislatively set goal of increasing FRR by 10% every 5 years? 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% Farebox Recovery Ratio 2013 (NTD Data) 49.99% 47.83% 45.15% 42.49% 38.57% 32.95% 30.43% 5
6 Means-Tested Fares Should residents who can t afford the fare be able to pay less? How is eligibility in such a program defined? Who pays for the subsidy and how is the program administered? 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Income Distribution of Riders by Mode 72% 21% 47% 29% 13% 29% 30% 21% 20% 5% 11% 2% Commuter Rail Rapid Transit Bus Notes: Stated household income from systemwide survey, Area Median Income (AMI) in 2008 approximately $68,000 $75,000 or more (over 120% AMI) $40,000-$74,999 (60-120% AMI) $20,000- $40,000 (30-60% AMI) Under $20,000 (under 30% AMI) 6
7 Pass Multiples Should the MBTA set a multiple for each of its pass products? What level encourages pass usage and maximizes 25,000 Multiple: 35.7 linked trips on Rapid Transit 20,000 15,000 10,000 5,000 Number of LinkPasses LinkPass unlinked validations per pass per month July - December 2014 Mean validations ("taps") per pass, October 2014: Median validations: 45 Linked trips median approximately 40, for an effective price of $1.88 per trip revenue? 0 Number of Validations / Month
8 Fare Change Levers A. Raise/Lower Rate Across the Board: Adjust cost for all fare products at a similar percent increase across the board B. Adjust Pass Multiple Rates: Increase pass multiple for passes when under a target multiple set by the policy Agency City Multiple MBTA Boston 35.7 MUNI San Francisco 36.9 MARTA Atlanta 38.0 SEPTA Philadelphia 40.4 MTA New York 42.4 CTA Chicago 44.4 C. Selective Adjustments to rates/multiples: Targeted changes to cash/ticket rates and pass multiples 8
9 Timeline November 23, Draft Fare Policy released for FMCB and public comment December 8, 2015 Stakeholder meeting for comments on Fare Policy December 15, Public comment period ends December 21, FMCB votes on Fare Policy January 6, FMCB reviews Fare Change options and releases for public comment January Series of public meetings on Fare Changes February FMCB votes on Fare Changes Draft for Discussion & Policy Purposes Only 9
10 Appendices Draft for Discussion & Policy Purposes Only 10
11 Ridership by FY ,000 MBTA Ridership, all modes by Fiscal Year (thousands) 400, , , , , , , , , , , , , , , ,000 Vertical lines represent fare increases 50, Draft for Discussion & Policy Purposes Only 11
12 Pass Multiple The Multiple is the number of full single-ride fares needed to reach the price of a monthly pass. o Calculation: Monthly Pass price / CharlieCard Single-Ride Price o Current LinkPass multiple: $75 / $2.10 = Most peer agencies have a multiple between 40 and 44 Median linked trips for LinkPass users is estimated at 40 Unlinked trips are misleading if rider was paying per-ride, a trip with one transfer would cost the same as one with none. Linked trips is a better comparison when setting multiple. One fare increase scenario is to move the pass multiple up more than the percent increase of the fare Draft for Discussion & Policy Purposes Only 12
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