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Rail News: Passenger Rail
4/24/2009
Rail News: Passenger Rail
San Francisco MTA facing $130 million budget deficit in FY2010
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The economic downturn, elimination of state funding for transit operations and steep city budget deficit have resulted in a highest-ever budget shortfall for the San Francisco Municipal Transportation Agency (SFMTA) in FY2010 — $128.9 million.
To make up the deficit, the board is considering service reductions, as well as raising the single-ride cash fare by 50 cents to $2 beginning July 1. SFMTA also has proposed raising the price of an Adult Fast Pass to $60, after previously approving a pass increase from $45 to $55, effective July 1.
The board still is reviewing the agency's cost-cutting and revenue-generating options and is expected to vote on a plan to balance the budget on April 30.
To make up the deficit, the board is considering service reductions, as well as raising the single-ride cash fare by 50 cents to $2 beginning July 1. SFMTA also has proposed raising the price of an Adult Fast Pass to $60, after previously approving a pass increase from $45 to $55, effective July 1.
The board still is reviewing the agency's cost-cutting and revenue-generating options and is expected to vote on a plan to balance the budget on April 30.
