For the second straight year, BART is projecting a very healthy operating budget. But despite bucking nationwide trends again, the transit agency is still likely to move forward with ousting its general manager.
Even with flat ridership numbers and sales tax revenue that is below 2001 levels, the agency projects a budget surplus this fiscal year, and is not projecting any deficit for the upcoming fiscal year, which starts July 1, according to BART documents.
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The good news just keeps coming for BART, and that could mean more benefits for passengers.In the past several months, while nearly every other transit agency in the country grappled with budget deficits, BART was wrestling with how to spend a $4.5 million surplus, made possible in large part because of an unexpected funding allocation from the state.
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Virginia Governor Bob McDonnell announced today that the commonwealth is on pace to post a surplus when the fiscal year ends on June 30. The news vindicates McDonnell’s decision earlier this year to slash spending – and not raise taxes – to deal with an unprecedented $4 billion deficit in Virginia’s biennial budget.
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