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BART officials warn of a multihundred-million-dollar annual deficit; urge regional funding support
Summary
BART officials told the SFCTA board that pandemic-driven ridership loss produced a large fiscal gap (more than $400 million cited for FY24 and a structural shortfall in the low hundreds of millions annually), and outlined revenue and cost strategies while endorsing regional funding efforts including SB 63 and Prop L support.
BART representatives briefed the San Francisco County Transportation Authority on March 25 about the transit agency’s fiscal outlook and the need for new regional revenue.
Pam Herhold introduced the presentation, and Joe Beach, BART’s newly announced chief financial officer, told commissioners the system faces a significant funding shortfall driven by pandemic-era ridership declines. "That is the fiscal cliff that we face," Beach said, summarizing a gap the presentation put at more than $400,000,000 in fiscal year 2024 and a structural deficit he described on…
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