BART reports strong financial picture for first quarter of fiscal year

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BART reports strong financial picture for first quarter of fiscal year

Buoyed by strong ridership figures and growing revenue from sales tax figures, BART posted a solid financial report for the first quarter of this fiscal year.

The regional rail operator carried an average of 363,539 passengers each day, a total that was 6 percent more than projected for the first quarter — which covered July through September of 2011.

Also, for the sixth straight quarter, BART recorded positive growth from sales tax proceeds. Funding from regional sales tax grew by 6 percent for the first quarter — about $1.9 million more than was projected.

With ridership and sales tax both up, BART’s revenue for the first quarter was actually $8.3 million more than expected.

Unlike other transit agencies across the country, BART has not experienced crippling budget deficits in recent years. In fact, the agency finished last fiscal year with a $21.4 million surplus.

wreisman@sfexaminer.com


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URL: http://www.sfexaminer.com/blogs/under-dome/2012/01/bart-reports-strong-financial-picture-first-quarter-fiscal-year