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Rail News: Financials

WMATA revises FY2012 budget


On Thursday, Washington Metropolitan Area Transit Authority (WMATA) Chief Executive and General Manager Richard Sarles reported the proposed budget for fiscal-year 2012 has been adjusted to reflect a $6 million "improvement" based on nine months of spending data, job and ridership growth forecasts.

The revision means that estimated operating expenses would be $2 million less than the budget proposed in January, Sarles said in a prepared statement. The update also includes a revised request for an increase in operating subsidies from the agency's jurisdictions from the original request of $72 million down to $66 million.

Although the proposed budget includes $74.2 million in operating cost reductions, it does not include fare increases or major service cuts, agency officials said.

WMATA has scheduled six hearings in May to solicit public opinion on the budget plan. The board is scheduled to act on it in June. Any adopted service changes would take effect in September.

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More News from 4/29/2011