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Bay Area Rapid Transit (BART) officials recently adopted a $475.2 million fiscal-year 2005 budget that doesn’t include fare increases or service cuts despite a $41.5 million deficit.
The agency reduced operating expenses $20.4 million, primarily by eliminating 143 positions, 101 of which already were vacant.
BART also saved money by implementing one-time money transfers, reducing the capital budget and matching trains sizes to ridership demand.
The budget reflects a recent agreement reached with San Mateo County Transit District to share costs for BART’s new SFO extension to San Francisco International Airport.
However, the budget doesn’t include a $9.1 million cut to BART’s property tax revenue, which is included in Gov. Arnold Schwarzenegger’s proposed budget. The agency uses the revenue to help offset operating costs. If the revenue cut is approved, BART likely will have to reduce service, according to a prepared statement.
6/2/2004
Rail News: Rail Industry Trends
BART approves FY2005 budget
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Bay Area Rapid Transit (BART) officials recently adopted a $475.2 million fiscal-year 2005 budget that doesn’t include fare increases or service cuts despite a $41.5 million deficit.
The agency reduced operating expenses $20.4 million, primarily by eliminating 143 positions, 101 of which already were vacant.
BART also saved money by implementing one-time money transfers, reducing the capital budget and matching trains sizes to ridership demand.
The budget reflects a recent agreement reached with San Mateo County Transit District to share costs for BART’s new SFO extension to San Francisco International Airport.
However, the budget doesn’t include a $9.1 million cut to BART’s property tax revenue, which is included in Gov. Arnold Schwarzenegger’s proposed budget. The agency uses the revenue to help offset operating costs. If the revenue cut is approved, BART likely will have to reduce service, according to a prepared statement.
