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On May 22, Bay Area Rapid Transit (BART) plans to hold public hearings on the agency’s proposed fare increase and preliminary fiscal-year 2004 operating budget.



BART officials have proposed a 10 percent fare increase to help make up a projected $38.8 million FY 2004 budget shortfall. A $25.3 million loss in revenue due to decreasing ridership and sales tax receipts, combined with $13.5 million in increased expenses, have contributed to the shortfall.



Agency officials also have proposed a five-cent surcharge on tickets, or equivalent percentage for basic fares, and a biennial productivity-adjusted, Consumer Price Index-based fare increase beginning in 2006 to help revenue keep pace with inflation.



Following the public hearing, the board may adopt any, all or none of the agency’s proposals.