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SFMTA CFO: fares buoy revenue even as grants lag; $307M multiyear gap looms
Summary
CFO told the board the agency is projected to end the fiscal quarter on budget thanks to stronger-than-expected passenger fares (about $13'14M over budget) and parking revenue, but operating grant shortfalls and rising costs produce a multiyear structural deficit beginning FY26'27; staff outlined revenue, one-time resources and efficiency strategies to close the gap.
Brie Mahorder (identified in the transcript as CFO) presented a quarterly financial update showing that, as of Sept. 30, the agency is projected to end the year on budget if current revenue and expenditure trends hold. "So as of September 30, we are projected to end on budget, assuming that our revenue continues to perform as it has during the first 3 months of the year and that we continue to maintain strong expenditure control," the CFO said.
Key points from the presentation:
- Transit passenger fares are beating budget by roughly $13'14 million for the year-to-date, which the CFO called a strong sign of…
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