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; Eligible operating e xpenses include the following: <br /> (i) empl oyee wages and benefi ts; (i i) materi al s, fuel s and <br /> supplies; (iii) rental of facilities; (iv) taxes other than <br /> income taxes; (v) pa�yment for debt service (including principal <br /> and interest) on equipment or facilities owned by the applicant; <br /> (vi ) equipment purchases which do not exceed $300; (vii ) <br /> a�ninistrative costs associated with capital projects which are <br /> not reimbursed el sewhere; (vi ii) repairs to bui 1 dings , equi pment <br /> or vehicles which do not extend the useful life of same; (ix) <br /> reasonable expenses and compensation for applicant's board <br /> members or trustees; (x) and any other expenditure which the <br /> Department determines is an eligible operating expense according <br /> to generally accepted standard accounting prac tices for public <br /> transportation operations. <br /> ITEM 5. DEFICITS <br /> Operating deficits means the amount by which eligible ' <br /> operating expenses exceed (1 ) revenue from fares, reduced fare <br /> reimbursements, rental of property, advertising and any other <br /> amounts collec ted and received by the provider of public <br /> transportation which , under standard accounting practices , are <br /> properly classified as operating revenues or operating income <br /> attributed to providing public transportation, and (2) revenue <br /> from any federal financial assistance received to def ray <br /> operating expenses and deficits. Local taxes generated by <br /> participants shall not be included when computing operating <br /> deficits. <br /> 4 <br />