News

Nearly $300M in relief funding needed to balance BART budget, officials say

Rider-generated revenue still lagging considerably

BART finished the 2021-22 fiscal year with a balanced budget due in large part to federal relief funding and more sales tax revenue than expected, budget officials with the transit agency said last week.

A BART train arrives at an East Bay station. (Photo by Ray Saint Germain/BCN Foundation)

While daily fare revenue across the system remained low, generating $30.6 million less than the transit agency had expected in the final budget it adopted in June 2021, BART received $49 million more than expected in sales tax revenue.

That increase was driven partially by inflation, according to BART budget officials. Meanwhile, total passenger trips fell roughly 20% short of the totals expected in the adopted budget.

The transit agency also spent $61 million less than expected, with roughly two-thirds of that total due to unfilled labor positions.

Even with the increased revenue and savings, though, BART still faced a $286.7 million deficit before federal relief funding was applied to close the gap.

Help sustain the local news you depend on.

Your contribution matters. Become a member today.

Join

BART received $57.5 million more than expected in federal relief, with $275.9 million coming from the federal American Rescue Plan Act of 2021 and $167.3 million in one-time relief from the Coronavirus Response and Relief Supplemental Appropriations Act of 2021.

Budget officials had originally planned to need $385.7 million in relief funding, according to Katherine Alagar, BART's manager of operating budgets.

"The saving will be applied to costs in future years, thus extending the district's fiscal runway," Alagar told the transit agency's Board of Directors on Thursday.

Earlier this year, BART officials projected the agency's fiscal cliff to come some time in mid-2025 considering current ridership trends and the amount of federal relief funding to which the agency still has access.

Stay informed

Get daily headlines sent straight to your inbox in our Express newsletter.

Stay informed

Get daily headlines sent straight to your inbox in our Express newsletter.

Looking for more Livermore stories? The Livermore Vine will be your new source of vital news and information. Sign up to be among the first to get our daily local news headlines sent to your inbox for free.

Follow PleasantonWeekly.com and the Pleasanton Weekly on Twitter @pleasantonnews, Facebook and on Instagram @pleasantonweekly for breaking news, local events, photos, videos and more.

Stay informed on important political news. Sign up for our FREE daily Express newsletter.

Nearly $300M in relief funding needed to balance BART budget, officials say

Rider-generated revenue still lagging considerably

by Eli Walsh / BCN Foundation /

Uploaded: Wed, Nov 23, 2022, 8:22 pm

BART finished the 2021-22 fiscal year with a balanced budget due in large part to federal relief funding and more sales tax revenue than expected, budget officials with the transit agency said last week.

While daily fare revenue across the system remained low, generating $30.6 million less than the transit agency had expected in the final budget it adopted in June 2021, BART received $49 million more than expected in sales tax revenue.

That increase was driven partially by inflation, according to BART budget officials. Meanwhile, total passenger trips fell roughly 20% short of the totals expected in the adopted budget.

The transit agency also spent $61 million less than expected, with roughly two-thirds of that total due to unfilled labor positions.

Even with the increased revenue and savings, though, BART still faced a $286.7 million deficit before federal relief funding was applied to close the gap.

BART received $57.5 million more than expected in federal relief, with $275.9 million coming from the federal American Rescue Plan Act of 2021 and $167.3 million in one-time relief from the Coronavirus Response and Relief Supplemental Appropriations Act of 2021.

Budget officials had originally planned to need $385.7 million in relief funding, according to Katherine Alagar, BART's manager of operating budgets.

"The saving will be applied to costs in future years, thus extending the district's fiscal runway," Alagar told the transit agency's Board of Directors on Thursday.

Earlier this year, BART officials projected the agency's fiscal cliff to come some time in mid-2025 considering current ridership trends and the amount of federal relief funding to which the agency still has access.

Comments

There are no comments yet. Please share yours below.

Post a comment

In order to encourage respectful and thoughtful discussion, commenting on stories is available to those who are registered users. If you are already a registered user and the commenting form is not below, you need to log in. If you are not registered, you can do so here.

Please make sure your comments are truthful, on-topic and do not disrespect another poster. Don't be snarky or belittling. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

See our announcement about requiring registration for commenting.