The FY 08 MIDAS Operating Budget was set by the Executive Board at $2,536,373, an increase of $90,785 (or 3.58%) over the previous year’s budget. Additionally, $689,450 was budgeted for capital expenditures; primarily for six RTA buses and one DART bus, although there were also funds identified for an Interactive Voice Response (IVR) telephone system for transit.

Funding for MIDAS comes from several sources. In the planning department, Government Assistance, in the form of grants and dues, accounts for $324,534 of the projected revenues. The bulk of the rest, or $105,473, is generated through contracted administrative service fees. The remainder is $300 from interest generated from banked funds. Membership dues make up 16.7% of the total planning revenues.

The MIDAS Executive Board receives and reviews the MIDAS financial report at the monthly Executive Committee meeting, and approves expenditures at the same time. The MIDAS financial system is audited on an annual basis, usually in July or August. The FY 08 audit has not been received at the time this report was published.