Ferry Annual Reports

Farebox Recovery Rate

Whatcom County Ordinance 2005-090 states in part: "Beginning January 1, 2006, a 55% Fare Box Recovery Rate shall be applied and evaluated continuously from that time forward. An annual review of Ferry System services, actual and projected Operating Costs, and actual and projected revenue from Ferry User Fees shall occur in order to verify the 55% Fare Box Recovery Rate is being achieved."

"In any given year the actual Fare Box Recovery Rate exceeds 55%, the excess revenue shall be retained in the Ferry System Fund and applied only to future Operating Costs."

"In any given year the actual Fare Box Recovery Rate is below 55%, the difference shall be recovered in a future Ferry User Fee increase, unless there is adequate excess Ferry User Fee revenue remaining in the Ferry System Fund collected during prior years."

Annual Ferry Financial Reports