Agency finance staff report November surplus vs. budget but flag a $7M prior‑year shortfall for county discussion
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Summary
Finance reported revenues through Nov. 30 are about $3.9M above budget with passenger revenue up ~$1.1M; expenses are below budget and November net was about $5.6M, but staff said a $7M shortfall from the prior year requires a joint committee discussion with the county.
The commission received a financial update through Nov. 30 showing improved revenue performance but an unresolved prior‑year shortfall.
Finance staff reported year‑to‑date revenue roughly $3.9 million above budget, with passenger revenue up about $1.1 million. On the expense side, actual spending through the period was approximately $143.0 million compared with a budgeted $149.6 million, producing lower expenses year‑to‑date and a reported net income for November of about $5.6 million (staff said some of the positive figures stem from timing differences in reporting).
Staff said sales‑tax receipts have swung month to month and remain a monitoring priority. They also said the agency is coordinating with St. Louis County to schedule a 'committee of the whole' meeting in January to address a roughly $7 million shortfall from the prior year; no firm date was set at the meeting.
Commissioners asked whether there is a contingency if the $7 million is not resolved; staff said they have provided requested supporting documents to the county and are hopeful the committee meeting will occur in January.