While the San Francisco Municipal Transportation Agency is facing a daunting hole in its upcoming two-year budget, its current financial outlook isn’t getting any prettier.
The SFMTA, which manages Muni, recently adjusted its budget deficit for this fiscal year — which ends on June 30 — from $23 million to $28 million. Based on new figures compiled last month, the agency’s expenditures — $818.6 million — are forecast to far outpace its projected revenue of $790.8 million.
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This Thursday, the Government Audit and Oversight Committee will hold a hearing to discuss a recent audit by the Office of the Budget and Legislative Analyst. The subject of the audit is The City’s advertising policies and practices. The report covers all departments that receive advertising revenue, but the harshest criticism is reserved for the San Francisco Municipal Transportation Agency.
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In a move seen by drivers and taxi owners as the latest insult to their industry, San Francisco Municipal Transportation Agency officials have considered taking a slice of the revenue generated by backseat advertising.
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Facing mammoth budget deficits for 20 years to come, the San Francisco Municipal Transportation Agency may ask city voters to increase vehicle registration fees, raise parcel and sales taxes, hike off-street parking rates or create a new “transportation utility fee.”
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