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King County Metro warns of looming $1.75 billion shortfall by 2035; leaders weigh preserving service vs. electrification timeline
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Summary
Metro officials told the Transportation District that while ridership has recovered and service expansion is planned, uncertain grant flows and legislative risk could push Metro to a $1.75 billion funding shortfall by 2035, forcing choices about service levels, capital projects and the pace of bus electrification.
King County Metro presented a financial outlook that officials described as stable in the near term but facing a substantial budget cliff over the coming decade.
Deanna Martin, chief of staff for Metro Transit, told supervisors Metro provides roughly 277,000 daily rides and has rebuilt service to nearly full trip delivery. She said the agency's 10-year financial plan projects it will fall short of reserve requirements and grow to a $1.75 billion deficit by 2035 under current assumptions. Martin also flagged pending state legislation that could repeal recent sales-tax changes and reduce Metro's revenue baseline.
"We will not be meeting our reserve requirements by 2031," she said, "and we're growing to a $1,750,000,000 deficit by 2035." Martin described program choices Metro may have to consider without new, sustained revenue: delaying rapid-ride and zero-emissions capital projects, slowing electrification of bus facilities, and possible future service reductions that would further depress ridership.
Metro officials said they have prioritized maintaining near-term service and safety investments, including operator protections and behavioral-health pilots, while slowing some capital elements to reduce the near-term deficit. Martin said local sales and property taxes are Metro's single largest funding source; partnerships and grants make up a meaningful share but are partly uncertain.
During questions, supervisors asked about reserves, which Martin said are governed by county fund-management policy and have not been updated on a regular schedule; Metro maintains a substantial reserve requirement that reduces near-term flexibility.
Metro urged the KCTD to consider revenue options that would stabilize near-term operations and allow the agency to continue rebuilding service and meeting climate and access goals. The board scheduled follow-up sessions to refine measures and determine whether to pursue councilmanic or voter-approved instruments.
