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CapMetro reports 2024 preliminary finances; long-range plan outlines timing for reserve pressure
Summary
CapMetro reported preliminary, unaudited 2024 year-end financials showing sales-tax receipts near budget and underspending on capital; staff presented a 10-year financial model that could require expense adjustments by the late 2020s under conservative growth assumptions.
Capital Metropolitan Transportation Authority staff on Monday presented preliminary, unaudited 2024 year-end financial results and a 10-year long-range financial forecast that highlights timing risks to reserves under conservative sales-tax growth assumptions.
Catherine Walker, CapMetro's executive vice president and chief financial and risk officer, said the agency recorded year-to-date sales-tax remittances of about $389 million, which she said represented 98.1% of budgeted sales-tax receipts. Operating expenses were about $404 million, or 94% of the year-to-date operating budget,…
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