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During the past three years, Bay Area Rapid Transit (BART) has cut 418 positions and reduced expenses by $60 million. In fiscal-year 2006, agency officials expect to continue the trend. Last week, BART released a $523 million preliminary operating budget that projects a $30 million shortfall.
In January, officials projected a $51 million FY2006 budget deficit. The proposed budget includes measures to reduce the shortfall to $30 million, mostly by trimming expenses and cutting another 115 positions, half of which would be eliminated through attrition.
In FY2006, officials expect expenses to exceed revenue growth by a three-to-one margin due to increasing labor, health care, benefits and retiree medical care costs.
4/6/2005
Rail News: Rail Industry Trends
BART's $523 million FY2006 budget anticipates more costs, fewer jobs
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During the past three years, Bay Area Rapid Transit (BART) has cut 418 positions and reduced expenses by $60 million. In fiscal-year 2006, agency officials expect to continue the trend. Last week, BART released a $523 million preliminary operating budget that projects a $30 million shortfall.
In January, officials projected a $51 million FY2006 budget deficit. The proposed budget includes measures to reduce the shortfall to $30 million, mostly by trimming expenses and cutting another 115 positions, half of which would be eliminated through attrition.
In FY2006, officials expect expenses to exceed revenue growth by a three-to-one margin due to increasing labor, health care, benefits and retiree medical care costs.
