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Committee moves to amend Coast RTA FY25 budget and allow short-term loans
Summary
Committee reviewed Coast RTA's revised FY25 budget, heard the agency request temporary loan authority to bridge timing gaps in road-use and sales-tax receipts, and staff read a resolution to amend the FY25 budget and consent to loan arrangements.
County staff read a resolution that would amend Coast RTA's fiscal year 2025 budget to adjust for inflationary impacts and to permit Coast RTA to acquire loans to cover operating expenditures during the period between final funding payments and receipt of sales-tax revenues. A committee member indicated support and the committee moved the item forward ('All the favor').
Coast RTA's presenter told the committee the revised budget restores previously proposed service cuts and increases expenses by about $500,000; the presenter said the county will recognize roughly $3,000,000 in sales-tax revenue for May–September and that road-use fees stop on June 30, creating a timing gap that may require short-term borrowing to maintain operations.
The resolution was described as varying the agreement timing between final funding payment and receipt of payment and, per staff, would authorize Coast RTA to acquire loans to cover operations during that window. No formal roll-call vote was recorded in the transcript; the committee voiced general agreement and moved the resolution forward for consideration.
