TFLEx Treasury SIG Call – First / Last Mile connections – February 8, 2024, 3:00 CST

Posted on by themousepadtexas

Finance role & challenges associated with third-party arrangements

The “First and Last Mile” is the distance a transit rider needs to travel from a transit (bus or rail) stop to their destination, and vice versa.  This presents a challenge when the stop is far from where the rider is going.  Recently, it has become more of a problem as agencies look to eliminate stops to speed up service and shorten travel times. This has increased the use of third-party rideshare and micro-transit service providers for first / last mile distances.

Join us for a transit-agency-only discussion on the role of the finance officer role and financial challenges associated with these third-party arrangements.

Participants will:

  • Learn the first / mile problems faced by other transit agencies as well as the impact of recent initiatives to eliminate stops to speed up service and shorten travel times.
  • Understand what agencies are doing to provide first / last mile service.
  • Hear the challenges and solutions relating to:
    • Pricing the rider’s journey;
    • Collecting revenue as well as revenue distribution between the parties providing service; and
    • Passenger counting, and other data collection, for NTD and agency metrics.
  • Explore the impact on federal requirements and grant opportunities.
  • Examine the approach of sister agencies to develop sustainable financial strategies.

TFLEx members may join this call free of charge.  In the Zoom app enter the meeting ID and passcode provided in the emailed message and invite. For more information contact Joe Costello, Costello Consulting, (708) 606-0811, costelloconsultingcorporation@gmail.com.

Participants will earn 1.0 CPE credit.

Additional Information
Field of Study: Finance
Prerequisites:  None
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based

The Transit Finance Learning Exchange (2300 Downing Avenue, Westchester, IL) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#108644) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.NASBARegistry.org