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SolTrans closes year under budget but flags Clipper reconciliation shortfall
Summary
SolTrans reported it closed the fiscal year under budget, but staff warned that fare revenue underperformance and unresolved Clipper reconciliation issues create a material near-term concern.
Finance staff reported that the fiscal year ended with expenses approximately 7% under budget and that operating revenues (fare revenue) were below projections.
Key points: expenses were under budget largely because contracted transit services improved and fuel costs were lower (credits from biogas for CNG fleets and delayed electric bus fuel charges). Fare revenue was lower than budgeted; staff said part…
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