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Virginia's Metro board rep says transit systems $300 million shortfall could double by 2019
Last edited Fri Mar 17, 2017, 04:41 PM - Edit history (1)
Virginia’s Metro board rep says transit system’s $300 million shortfall could double by 2019
Friday, Mar. 17, 2017 by Sydney Kashiwagi, [email protected]
If you thought the numbers were high already, it looks like things could get worse for Metro. ... Virginia’s representative on the Metro (WMATA) Board, Second Vice Chairman Jim Corcoran, said Thursday during a State of Transportation event in Loudoun County that the transit system’s nearly $300 million fiscal 2018 operating shortfall could double by 2019.
“If things don’t change, it will be impossible,” Corcoran said. “We’re at $300 million this year ... but next year it’s going to be $500-$600 million.”
Last week, the Metro board’s finance committee approved General Manager Paul Wiedefeld’s proposed operating budget that includes service cuts and fare hikes. The full board is expected to take a final vote on that budget later this month. ... If Corcoran's predictions are correct, the increase would come just a year before Metro comes to Loudoun in 2020.
Corcoran, who is also the CEO of the Fairfax County Chamber of Commerce, told the Times-Mirror that Metro’s year-long SafeTrack maintenance program is one of the main culprit’s of the budget woes. He said the transit authority "overspent" its long-term budget capacity with the recent SafeTrack initiative. ... “For next year, that bonding capacity is not there,” he said.
Friday, Mar. 17, 2017 by Sydney Kashiwagi, [email protected]
If you thought the numbers were high already, it looks like things could get worse for Metro. ... Virginia’s representative on the Metro (WMATA) Board, Second Vice Chairman Jim Corcoran, said Thursday during a State of Transportation event in Loudoun County that the transit system’s nearly $300 million fiscal 2018 operating shortfall could double by 2019.
“If things don’t change, it will be impossible,” Corcoran said. “We’re at $300 million this year ... but next year it’s going to be $500-$600 million.”
Last week, the Metro board’s finance committee approved General Manager Paul Wiedefeld’s proposed operating budget that includes service cuts and fare hikes. The full board is expected to take a final vote on that budget later this month. ... If Corcoran's predictions are correct, the increase would come just a year before Metro comes to Loudoun in 2020.
Corcoran, who is also the CEO of the Fairfax County Chamber of Commerce, told the Times-Mirror that Metro’s year-long SafeTrack maintenance program is one of the main culprit’s of the budget woes. He said the transit authority "overspent" its long-term budget capacity with the recent SafeTrack initiative. ... “For next year, that bonding capacity is not there,” he said.
